LatAmOil - Latin America Oil & Gas

US official says Rosneft may be able to avoid sanctions for Venezuelan operations

A high-ranking US official says Washington is ready to lift sanctions on a subsidiary of Russia’s largest oil operator Rosneft, provided that the company can show that it is no longer doing business in Venezuela.

More gasoline and diesel going into storage facilities in Panama

Panama appears to be turning into a popular destination for traders looking for places to store their excess supplies of petroleum products, especially low-sulphur motor fuels.

Apache reports another oil discovery offshore Suriname

US-based Apache Corp. and its French partner Total have found oil again at Block 58, which lies offshore Suriname.

Four windows on OPEC-plus talks

Smaller oil-producing states will watch the upcoming Russian-Saudi discussions closely.

Mexico consulting other oil producers about output, price

The government of Mexico has been in communication with other major oil-producing countries to discuss measures for stabilising production and price levels.

Pemex says it will maintain current output levels despite pandemic

Mexico’s national oil company (NOC) Pemex has said it will maintain current crude production levels, in spite of the coronavirus-driven decline in demand and uncertainty over global oil prices.

Guyana’s oil output up by 58.2% in January, finance minister says

Guyana’s oil output jumped to 56,320 barrels per day in January, up by 58.2% on the December figure of 35,607 bpd, according to a report from the South American country’s finance ministry.

Oil price plunge has no impact on Guyana’s Liza project, ExxonMobil says

The recent drop in crude oil prices has had no impact on production at Guyana’s flagship Liza project, ExxonMobil has said.

Brazil suspends upcoming licensing round on coronavirus outbreak

Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has approved the temporary suspension of the next round of oil and gas auctions, citing the coronavirus crisis.

Trump signals Russia-Saudi truce

Russia, Saudi Arabia agree to slash oil production, Trump claims

Donald Trump said on April 2 that Russia and Saudi Arabia would be cutting their output, instead of continuing with a supply war that could result in hundreds of oil companies going out of business. The Kremlin denied his claim.

Saudi oil surge and the threat to the energy transition

The Saudi-led oil glut leaves the energy transition and decarbonisation efforts hanging in the balance

Predator set to push ahead with EOR project for Columbus in Trinidad

London-listed Columbus Energy Resources is preparing to move forward with an enhanced oil recovery (EOR) project in Trinidad, with help from Predator Oil & Gas Holdings.

Colombian insurgent group to suspend attacks on Ecopetrol’s pipelines

Colombia’s main insurgent group, the National Liberation Army (ELN), has pledged to suspend attacks on the national oil pipeline network as part of a unilateral cease-fire during the month of April.

Chevron JVs scale back contracting, procurement processes in Venezuela

Chevron is reportedly slowing the pace of its operations in Venezuela in response to the decline in crude oil prices.

Pan American Energy moves ahead with drilling at Vaca Muerta block

Argentina’s Pan American Energy is making progress on a drilling programme that targets Coiron Amargo Sur Este (CASE), a block within the Vaca Muerta shale basin.

Yinson finalises Marlim-2 FPSO contracts with Petrobras

Malaysia’s Yinson Holdings said last week that it had finalised a deal with Brazil’s national oil company (NOC) Petrobras for the use of a floating production, storage and off-loading (FPSO) at the offshore Marlim oilfield.

Brazilian offshore gas operators need joint infrastructure, ANP says

Brazil’s state oil and gas regulator ANP has said that domestic operators need to develop joint solutions to extract natural gas in offshore areas.

Latin refining demand evaporates on coronavirus pandemic

Demand for petroleum products across Latin America is reportedly drying up as the coronavirus pandemic spreads through the region.

S&P revises Mexico, Pemex ratings as coronavirus spreads

The US-based credit ratings agency S&P Global has downgraded Mexico’s credit rating, citing concerns about the impact of the coronavirus pandemic and falling crude oil prices on the country’s economy and on the national oil company (NOC) Pemex.

Petrobras cuts oil production by 200,000 bpd on pandemic

Brazil’s state-run oil and gas major Petrobras has said that it intends to cut crude production by 200,000 barrels per day.

Oil prices take another tumble

Rosneft sheds Venezuelan business as US sanctions loom

Sudden impact

Mexico, Guyana and Venezuela are all feeling the pinch as world oil prices slip.

Peru’s national lockdown leads to decline in gas production

Peru’s natural gas industry has seen production decline since March 15, when the government imposed a nationwide lockdown in the hope of containing the coronavirus pandemic.

GlobalData comments on Maka Central’s potential for Suriname

GlobalData has drawn up an estimate of Suriname’s potential earnings from Maka Central, a field within the offshore Block 58 where Apache and Total have found crude oil and gas condensate.