LatAmOil - Latin America Oil & Gas

Is Guyana about to make gas a higher priority?

ExxonMobil has been concentrating on oil at Guyana's Stabroek block, but there are signs that associated gas production may become more important than it has been in the past.

MPL expands scope of Puerto Libertad LNG project, targets FID in H2-2022

Mexico Pacific Ltd (MPL) has expanded the scope of its plan to build a new LNG export terminal at Puerto Libertad in Mexico’s Sonora State and will make a final investment decision in the second half of 2022.

Ecuador’s energy minister resigns

Ecuador’s Energy Minister Juan Carlos Bermeo stepped down from his cabinet post last week, announcing his decision in a letter to President Guillermo Lasso.

CDB head urges switch to renewable energy in order to reduce fuel import costs

The head of the Caribbean Development Bank (CDB) declared last week that Caribbean countries ought to speed up the transition to renewable energy sources in order to avoid the high costs associated with fuel imports.

Report: Olmeca refinery may cost $14bn

The final price tag for the 340,000 barrel per day refinery that Mexico’s Pemex is building in Tabasco State may be nearly twice the original figure of $8bn, according to a report from Reuters.

SENER restores Trafigura’s five fuel import permits

Trafigura, the Swiss-based commodities trader, reports that Mexico’s Secretariat of Energy (SENER) had restored the petroleum product import permits that it cancelled last September.

Petrobras signs PSCs for Atapu, Sépia

Petrobras announced on April 27 that it had signed production-sharing contracts (PSCs) for Atapu and Sépia, two of the four Santos basin sites within the offshore Transfer of Rights (TOR) area.

Indian refiners eye Brazilian crude, but few large-scale term supply deals are likely

Indian refiners are considering buying more Brazilian crude, but few large-scale term supply deals are likely.

LatAmOil: Olmeca refinery may cost as much as $14bn

The final price tag for the Olmeca refinery, which Mexico’s national oil company Pemex is building in Tabasco State, may be $14bn.

OPEC+ unlikely to alter its course

Iran looks to new avenues as nuclear talks stall

Jagdeo offers more information on government’s plans for unassigned blocks

Guyana’s Vice President Bharrat Jagdeo offered some additional details about the government’s plans for unassigned exploration blocks during a press conference on April 29.

Emerging basins, emerging tensions?

TechnipFMC’s shift of certain operations from Trinidad and Tobago to Guyana highlights the issues that can arise when one hydrocarbon basin matures and another moves to the forefront.

Argentina’s president marks start of construction on new pipeline for Vaca Muerta gas

Argentinian President Alberto Fernández marked the launch of construction work on the Néstor Kirchner natural gas pipeline last week during a ceremony at Loma Campana, a field in the Vaca Muerta shale formation.

Hess COO says Shell will spud Zanderij-1 exploration well at Block 42 in mid-2022

Shell (UK) is gearing up to drill a new exploration well at the Block 42 licence area offshore Suriname later this year, according to Hess (US), a non-operating partner in the project.

Finance Ministry steps up pressure on Pemex to resume payments on maturing securities

Pemex has reportedly come under more pressure from the Finance Ministry to resume payments on maturing securities, despite President Lopez Obrador's promise to cover the firm’s obligations until the end of his term in 2024.

Staatsolie, Chevron sign PSC for Block 7

Staatsolie, the national oil company of Suriname, has struck a deal that will allow the US major Chevron to add Block 7 to its portfolio of offshore assets.

ExxonMobil makes three new finds at Stabroek

ExxonMobil has made three new discoveries in the south-eastern section of the Stabroek block offshore Guyana, pushing the recoverable resource estimate up to nearly 11bn boe.

Petroperú revises price tag for Talara refinery modernisation project upward

Petroperú, the national oil company of Peru, is once again making upward revisions to its estimate of the total cost of modernising the Talara oil refinery.

Venezuela opposition says US should make lifting oil sanctions conditional on reform

Venezuela’s political opposition will continue to insist that the US make lifting sanctions on the oil sector conditional on significant political reform, an oil and energy advisor to opposition leader Juan Guaido has said.

Jagdeo says Guyana will make decision on formation of NOC by September

Guyana’s Vice President Bharrat Jagdeo said last week that Georgetown was on track to make a final decision regarding the potential formation of a national oil company in September 2022.

Shell farms into two blocks offshore Barbados under deal with BHP Billiton

BHP Billiton (Australia) revealed last week that it had sold part of its equity stakes in two exploration licences offshore Barbados to a subsidiary of Shell (UK).

Wärtsilä to support Eagle LNG Partners, APC in LNG-to-power project on Antigua

Finland’s Wärtsilä will provide support to the Caribbean LNG joint venture as it executes a small-scale LNG regasification project on the island of Antigua.