LatAmOil - Latin America Oil & Gas
Cash-strapped Ecuador has convinced a super-majority of the holders of three-year bonds issued by Petroamazonas, a state-controlled oil company, to accept a delay in payment.
Brazil’s national oil company (NOC) Petrobras may be in a unique position to weather the growing global oil glut, owing to its extensive storage capacity and its exports to China.
Guyana says it has already collected around $60mn in oil revenues under production-sharing agreements (PSAs) with the US super-major Exxon Mobil and other international firms.
Mexico and Aruba are looking into new options for expanding oil storage capacity.
Mexico’s national oil company (NOC) Pemex has reported a quarterly loss of more than $20bn, owing to the collapse in crude prices, the dramatic drop in global oil demand and the sharp depreciation of the Mexican peso.
Colombia’s National Hydrocarbons Agency (ANH) says the country is set to produce less oil than expected this year.
Mike Wirth, the CEO of Chevron, said last week that his company did not intend to make a complete exit from Venezuela.
Venezuela’s moves toward reform of PdVSA are not likely to bear much fruit in the near future.
Argentina’s oil refineries have been cutting throughput this month, and additional reductions are likely in May.
Brazil’s national oil company (NOC) Petrobras has won praise from Wood Mackenzie for its response to recent declines in domestic natural gas consumption.
Cenit, a subsidiary of Colombia’s national oil company (NOC) Ecopetrol, has offered to let oil producers postpone full payment of transportation tariffs in May and June.