LatAmOil - Latin America Oil & Gas
Mexico’s national oil company Pemex is looking to pay off its debts using its own funds instead of turning to investors, two sources familiar with the matter confirmed.
Australia’s Karoon Energy will drill a second control well, Neon-2, at the Neon discovery in the Santos basin after achieving positive preliminary results at its first control well, Neon-1.
As Guyana’s government makes plans to reclaim 20% of the country’s only producing block, ExxonMobil looks into using the isolated Ranger oilfield as the basis for a new development project.
Vreed-en-Hoop Shore Base Inc. (VEHSI), a joint venture established by Guyanese and Belgian investors, expects the service base it is building to reduce the cost of delivering supplies for offshore oil projects by 12%.
AIM-listed Challenger Energy is on track to wrap up its work programme for the first four-year period of its exploration licence for the AREA OFF-1 block offshore Uruguay during the second quarter of 2023.
US-based Maxar Technologies has signed a three-year deal with Guyana’s Ministry of Natural Resources (MNR) for remote monitoring services to limit the negative environmental impact of offshore oil projects.
Guyana’s government has indicated that it sees the agreement that it has struck with ExxonMobil on covering the costs of the Gas-to-Energy (GTE) project as very advantageous.
Guyana’s Finance Minister Ashni Singh stated on February 16 that his government expects national economic growth to average at least 25% over the next three to four years.
The US major Chevron is on track to send eight cargoes of Venezuelan crude oil to the US in February, with delivery volumes averaging more than 100,000 barrels per day.
Argentina’s National Congress will debate a draft law designed to encourage investment in natural gas and LNG projects in March, a source in the country’s Energy Secretariat told Reuters.
According to the International Energy Agency, worldwide subsidies for fossil fuel consumption increased dramatically in 2022, surpassing $1 trillion for the first time.