LatAmOil - Latin America Oil & Gas
Ecuador secures IDB financing to hire auditor to help put state Petroecuador's financials in order
Ecuador has secured financing from the Inter-American Development Bank to hire an international auditing firm to assist in putting state oil company Petroecuador's financials in order.
Tanker with Russian Arctic crude heads to Brazil
An oil tanker carrying Russian crude from a terminal in the Arctic Sea is approaching the coastline of Brazil. If the tanker discharges in Brazil, it would be the first time that Russian crude has been shipped there since at least 2016.
Russian oil trader expands in Mexico to displace US refiners
Lukoil PJSC’s trading unit, Litasco SA, is launching operations in Mexico as the oil major seeks new markets for Russian products under widespread sanction. If successful, the effort could see Russia displace the US as Mexico’s top fuel supplier.
Petrobras aims to make decommissioning of oil platforms more sustainable
Petrobras has signed an agreement with Porto do Acu (RJ) to provide support in the decommissioning of oil-and-gas platforms. The deal is part of Petrobras’s plan to decommission a total of 26 platforms by 2030.
Mexico’s Treasury cash injection into Pemex not enough, warn experts
Turkey’s Karpowership and Argentina’s Galileo to jointly develop floating liquefied natural gas solutions
Guyana playing pivotal role in reducing Europe's dependency on Russian oil
Guyana’s growing oil industry is playing a pivotal role in reducing Europe’s reliance on Russian supplies, said ExxonMobil Guyana President Alistair Routledge. He said ExxonMobil expects Guyana to produce more than 1mn barrels per day by 2028.
Gas purchase contract between Argentina and Bolivia to end sooner than expected
Argentina’s ambassador to Bolivia said an addendum to the gas purchase contract between the countries would move the end date from 2026 to mid-2024. Bolivia may not be able to meet capacity requirements should the initial end date remain enforced.
Guyana's oil and gas sector grew 98.4% in first half of 2023
Guyana’s president has announced that the country's oil-and-gas sector grew by 98.4% during the first six months of 2023. This industry was the main driver of Guyana’s 59.5% economic growth for the same period.
Guyana oil supply to surge until beyond 2028, the IEA claims
The International Energy Agency reported in its Oil 2023 (Analysis and Forecast to 2028) outlook that it expects Guyana’s global oil supply to explode in the coming years, with Guyanese oil accounting for 1.3% of global demand by 2028.
Brazil’s crude regulator interdicts FPSO Cidade de Santos on safety risk
After finding “critical deviations” in the vessel’s facilities, Brazil’s National Petroleum Agency has interdicted a floating production storage and offloading platform owned by the Japanese company MODEC and chartered to Petrobras.
Market weighs Petrobras thermal plant sales plans
Plans by Petrobras to sell its stakes in the Termocabo, Suape II and Araucaria thermal power plants are moving forward, but the state-controlled company could struggle to find interested buyers.
Paraguay summons Argentine ambassador to protest retention of tanker refusing to pay waterway toll
Paraguay is protesting Argentina’s retention of a oil tanker carrying 30mn litres of fuel to the Paraguayan capital for refusing to pay a recently implemented toll for using the Paraguay-Parana waterway.
Enauta’s FPSO in Brazil coming back on stream by October
Brazilian oil and gas player Enauta is anticipating the return of production from an FPSO vessel that is working at the Atlanta field off Brazil by October. Previously, production was expected to resume by early September.
Brazil’s Petrobras allocates $64bn to exploration, production in 2023-2027
Petrobras’ updated strategic plan for 2023 to 2027 now allocates $64bn for exploration and production investments, with 67% earmarked for pre-salt projects.
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