LatAmOil - Latin America Oil & Gas

Quarantine hits Argentina’s oil and gas sector

Argentina’s oil and gas industry is already feeling the impact of the wide-ranging quarantine measures that the government imposed last week, according to the national oil company (NOC) YPF.

Sempra Energy postpones FID on Energía Costa Azul LNG

New York-listed Sempra Energy has delayed its final investment decision (FID) on the construction of an LNG export facility in Baja California, Mexico, and may do the same for a separate project in Texas.

US considers wading into Saudi-Russia supply war

Pemex to cut expenses, contracts amid oil price slide, CEO says

Mexico’s national oil company (NOC) Pemex is reportedly planning to reduce its administrative expenses and contracts this year in order to help deal with the impact of falling crude oil prices.

Petrobras asks to draw $8bn from revolving credit lines amid pandemic

Brazil’s state-controlled oil and gas company Petrobras has asked to draw $8bn from its revolving credit lines.

Curacao refinery operator seizes Bonaire terminal from PdVSA subsidiary

PdVSA has lost control of the BOPEC oil terminal in Bonaire to Refineria di Korsou (RdK), the owner of the Curacao oil-processing plant.

Price slide could cut Brazil exploration budgets by up to $600mn

The fall in crude oil prices could force Brazil to scale back oil and gas exploration budgets by $300-600mn this year.

YPF to suspend non-critical activities on coronavirus crisis

Argentina’s national oil company (NOC) YPF has said it will gradually suspend activities that are not critical to its business, as it takes emergency measures in response to the global coronavirus pandemic.

Fitch cuts oil price outlook for 2020 from 62.5/bbl to $41/bbl on global recession fears

Fitch Ratings has cut its short and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020.

Golar makes moves in Brazil

Golar Power is expanding its footprint in Brazil’s LNG industry, and has signed a “protocol of intentions” with the government of Pernambuco State to develop an LNG import terminal in the Port of Suape.

A tale of two neighbours

The plunge in crude oil prices has different implications for new oil producer Guyana and established oil producer Venezuela