LatAmOil - Latin America Oil & Gas
Peru sues Repsol over oil spill
The government of Peru has filed suit against Repsol (Spain), seeking $4.5bn in damages related to the oil spill that occurred on January 15 at one of the company’s four moorings at La Pampilla.
CADE greenlights Petrobras’ sale of REMAN refinery to Atem
CADE, the Brazilian government’s anti-trust agency, has authorised the national oil company Petrobras to proceed with the sale of the Refinaria Isaac Sabba (REMAN) plant to Atem, a domestic fuel distributor.
US seen easing sanctions on Venezuela to meet Europe’s need for additional oil supplies
The US government is reportedly gearing up to ease sanctions on Venezuela’s national oil company PdVSA in order to facilitate deliveries to Europe.
Petrobras cancels sale of stake in four Sergipe-Alagoas blocks
Brazil’s national oil company Petrobras has said it will not proceed with the planned sale of stakes in four deepwater sites in the Sergipe-Alagoas basin.
PetroReconcavo aims to sign direct gas supply contracts with Brazilian industrial clients
PetroReconcavo, the privately owned Brazilian company, has said it is looking to start signing natural gas supply contracts with industrial customers.
Guyana announces first withdrawal of oil earnings from sovereign wealth fund
Guyana’s Senior Finance Minister Ashni Singh announced last week that the government had made its first withdrawal from the Natural Resource Fund (NRF).
Former energy minister urges Trinidad and Tobago to take creative approaches to economy
Kevin Ramnarine, the former energy minister of Trinidad and Tobago, stated in a LinkedIn post last week that he believed creative thinking would be necessary for the island state to overcome the decline in its economic growth.
CGX needs more information before declaring Kawa-1 a commercial discovery
Canada’s CGX Energy, the operator of the Corentyne block offshore Guyana, has indicated that it is not ready to determine whether the hydrocarbon discovery at the Kawa-1 well is commercially viable.
Olmeca refinery may cost $14.5bn sources say
New reports have surfaced indicating that Mexico’s Pemex is on track to spend $14.5bn, or nearly twice as much as originally planned, on the construction of the 340,000 barrel per day Olmeca refinery.
Downstream impact
NewsBase takes a brief look at some of the economic and political fallout from the Russia-Ukraine war, with a focus on regional markets for jet fuel and diesel around the world.
LatAmOil: CGX not yet ready to declare Kawa-1 commercial
Canada’s CGX Energy, the operator of the Corentyne block offshore Guyana, is not yet ready to determine whether the hydrocarbon discovery at the Kawa-1 well is commercially viable.
Energy issues in Brazil’s upcoming elections
Fuel prices and the possible privatisation of Petrobras are likely to come under the spotlight as Bolsonaro seeks re-election this October.
PdVSA makes more Iranian feedstock available to domestic refiners
Venezuela has begun importing heavy crude oil from Iran in an effort to make more feedstock available to domestic refineries, according to documents from the national oil company PdVSA viewed by Reuters.
AMLO wants Pemex to divulge information on Vitol bribes
Mexican President Andres Manuel Lopez Obrador said on May 10 that he intended to ask the national oil company Pemex for information on bribes allegedly paid to government officials by Vitol.
Petro Rio set acquire 90% of Albacora Leste
Brazil’s Petro Rio is set to acquire a 90% share in the Albacora Leste field after striking a deal worth $1.951bn with the national oil company Petrobras.
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