LatAmOil - Latin America Oil & Gas
Milei’s plans for YPF
Libertarian Javier Milei’s surprise win in Argentina’s August 13 primary elections raises questions about whether the government will retain control of the NOC.
ExxonMobil says world will fail to meet Paris goal in 2050
Oil supermajor ExxonMobil says that the world will fail to meet the Paris Agreement goal to keep global warming below 2 degrees Celsius by 2050.
Colombia cancels tender for Pacific LNG regasification project
The competitive bidding process for Colombia's proposed Pacific LNG regasification project has been invalidated due to insufficient interest, the government’s Mining and Energy Planning Unit (UPME) announced on August 28.
Venezuelan President Maduro appoints new PDVSA board, confirms Tellechea as chief
The government of Nicolás Maduro formally announced on August 28 the freshly constituted board of directors for the state-owned oil behemoth Petróleos de Venezuela (PDVSA), while also reaffirming Pedro Tellechea as the company's president.
Washington allows Eni and Repsol to strike ‘oil-for-debt’ deal with Venezuela’s PDVSA
Italy’s Eni and Spain’s Repsol, two leading European oil companies, have unveiled ambitious plans to broaden an oil-for-debt arrangement with Venezuela – a move that appears to have secured the blessings of US authorities.
Four companies show interest in Peru petrochemical project
Peru's Economy and Finance Minister Alex Contreras announced on August 29 that four companies have expressed interest in the construction of a petrochemical facility in the southern region of the country, reported Andina.
Dominican Republic seeks oil refinery deal with Guyana
The Dominican Republic is looking to build an oil refinery in Guyana. Dominican Energy Minister Antonio Almonte claims that this plan is crucial to the country’s plan to boost its energy security.
US oil trader hit again in Petrobras bribery case
President acknowledges nine-year slump in Bolivia’s gas production
Data from state energy company Yacimientos Petrolófilos Fiscales Bolivianos (YPFB) show Bolivia’s natural gas production peaked at 59.6mn cubic metres per day in 2014 but by the end of 2022 it had dropped to just 41.3 mcm per day.
Brazil’s Petrobras signs closing of Golfinho, Camarupim clusters
Petrobras has concluded the transfer to BW Energy Maromba do Brasil of its entire stake in the Golfinho Cluster and Camarupim Cluster maritime concessions located in the post-salt in the Espirito Santo Basin.
Guyanese government extends oil audit to seven years
The government of Guyana has decided to revamp its existing petroleum-agreement framework, extending the period for auditing oil companies’ expenses from two to seven years.
Oceaneering looks to enhance staff housing in Guyana in oil-and-gas push
Seeking to upscale the quality of housing for its workforce, Oceaneering has published a Request for Information from local real estate companies. The move suggests Oceaneering's desire to tighten its grasp on the Guyanese oil-and-gas sector.
Colombia increases LNG imports amid fears over El Niño
The Latin America had already bought 309,000 tonnes of LNG as of August 28, almost 60% higher than in the whole of 2022.
China’s CNOOC, Brazil’s Petrobras sign agreements on potential joint ventures
Chinese state-owned oil and gas major CNOOC has signed a strategic co-operation agreement with Brazilian state-owned energy major Petrobras, Offshore Engineer reported on August 29.
Pemex faces liquidity concerns as debt looms, says Fitch
Pemex represents the greatest concern in terms of liquidity and debt among Latin American oil companies, according to US credit rating agency Fitch, Mexico Business News reported on August 26.
Colombia’s Ecopetrol given go-ahead to take out $1bn loan
Colombian state energy company Ecopetrol has been given the go-ahead by the Ministry of Finance to contract a loan with international banks for up to $1bn to finance its 2023 organic investment plan, the company revealed on August 28, Reuters reports
Ecopetrol announces social investments of $186mn in Colombia
Ecopetrol is planning social investments of COP 767bn ($186mn) to contribute to improving Colombians' quality of life, and to facilitate a just and equitable energy transition.
Thousands join protest against fuel prices in Colombia
Thousands of motorists joined a protest in Bogota, Colombia over an increase in the price of petrol. Members of congress Jennifer Pedraza and Jonathan Ferney Pulido initiated the protest and accompanied the demonstrations.
Mexican regulator signs off Zama oil field development plan
The Pemex-led joint venture is now preparing to start the front-end engineering design and reassess cost estimates ahead of a potential final investment decision in 2024.
International oil companies closely watching US-Venezuela sanction-easing talks
The possible relaxation of US sanctions against Venezuela could rejuvenate long-awaited drilling projects involving Chevron, and could offer a window of opportunity to European counterparts such as Eni SpA, Repsol SA, and Maurel & Prom.
Bolivia’s energy minister outlines strategy to 2050
Bolivia does not intend to end the use of fossil fuels by 2050, but will combine fossil energy with renewable energy, achieving a more diverse energy mix, said Minister of Hydrocarbons and Energies Franklin Molina.
Oil industry is not the villain, says CEO of Brazil’s Petrobras
The oil-and-gas industry is essential for the global energy-transition process, according to Petrobras CEO Jean Paul Prates. “We need to understand that the industry is not only part of the problem, but also part of the solution."
BRICS MATERIALS: the flourishing intra-BRICS oil trade
The addition of the Kingdom of Saudi Arabia, UAE and Iran to the BRICS+ at a summit on August 24 came as a surprise to many, but it has also significantly increased the body's clout in international oil markets.
Mubadala’s oil refinery bonds take hit from Petrobras’s new pricing policy
The new fuel policy implemented by Brazil’s state-owned energy major Petrobras is causing trouble for a Mubadala Capital-owned oil refinery, handing bondholders one of the worst returns in Latin America.
Bolivia in preliminary talks with Russia's Gazprom on investments
Bolivia is in preliminary talks with Russia’s state gas producer Gazprom on investments, the South American country’s president Luis Arce said on August 25, according to the Moscow-based PRIME news agency.
Brazilian natural gas pipeline prices rise sharply
Contracts on the TAG network – Brazil's most extensive system in the north-eastern coastal states which initially had the lowest gas prices after the market opening in 2021 – have risen to prices similar to the TBG system in the south this year.
Follow us online