LatAmOil - Latin America Oil & Gas
As the coronavirus outbreak continues to drive global oil demand down, Brazil’s state-controlled oil company Petrobras has moved to operating its refineries at below full capacity, at an average level of around 60%.
Mexican President Andres Manuel Lopez Obrador has said that his administration’s oil hedging programme for 2020 may bring in 150bn pesos.
Ecuador is considering the possibility of lifting its costly fuel subsidies once again in response to the recent plunge in global oil prices, according to the country’s energy minister.
Shipments of crude oil from the Liza field offshore Guyana could be affected by the global storage glut that has resulted from the coronavirus pandemic.
Guyana has received a total of 34 bids for a new contract to market the government’s share of crude oil.
Houston-based Halliburton has pledged to wrap up most of its activities in Venezuela by December 1, in line with instructions from the US Treasury Department.
The head of Mexico’s National Hydrocarbons Commission (CNH) has given state-owned Pemex a green light to seek new joint venture partnerships in spite of the government’s decision to freeze farm-out deals.
The Guyanese government’s search for a marketing agent for its share of oil output has reportedly drawn interest from several trading companies.
Two Brazilian oil companies have asked the government to shutter 29 oilfields, which have a total production of 65,000 barrels per day.
Argentina’s government is reportedly mulling a proposal to establish an artificially high floor for domestic crude oil prices.
Washington has ordered Chevron to prepare for an exit from Venezuela.
Venezuela’s National Assembly is considering proposals for revising joint venture contracts to make the country’s oil sector more attractive to foreign investors.
Concerns about the impact of the coronavirus pandemic appear to be widespread among Colombian oil and gas producers.
The unprecedented crash in WTI prices into negative territory has been attributed primarily to the mechanics of futures contracts, but nonetheless illustrates an oversupply crisis as storage fills up.
Mexico’s oil export basket has joined WTI in trading below zero.
Ecuador’s Heavy Crude Pipeline (known locally as OCP) has resumed partial operations after being closed down due to a landslide in the Amazon region earlier this month.
Oil prices fell to less than zero for the first time in history as producers ran out of places to store crude on April 20.
The OPEC+ group has hammered out a new deal after agreeing to let Mexico make a smaller contribution.
The US Treasury department renewed a measure designed to prevent creditors of Venezuela’s national oil company (NOC) PdVSA from laying claim to Citgo, the US-based refiner that is PdVSA’s most valuable foreign asset.
Norway’s Equinor is reportedly experiencing delays as it attempts to install a third platform at the Peregrino field offshore Brazil.
BP Trinidad & Tobago (BPTT), the main supplier of natural gas to Trinidad and Tobago, claims that its operations have not been substantially affected by the coronavirus pandemic to date.
Argentina’s government has authorised the national oil company (NOC) YPF to set up a joint venture with Norway’s Equinor for an offshore exploration project.