LatAmOil - Latin America Oil & Gas
Saudi, Russia to stick with voluntary output cuts
Saudi Arabia and Russia this week confirmed that they will extend their additional voluntary oil production restraint until the end of the year.
New Fortress Energy’s Santa Catarina, Brazil LNG export terminal obtains FSRU charter
New Fortress Energy has finalised a definitive agreement to charter the floating storage and regasification unit (FSRU) Energos Winter from Petrobras, scheduled to commence in December 2023.
Brazil’s ethanol exports fall in October
Brazilian ethanol exports experienced a notable decline in October, down a nearly a third compared to the same period in 2022. The primary factor contributing to this contraction were a seasonal reduction in demand for the biofuel in the US.
Petrobras faces dilemma over budget allocation between oil and renewables
Nearing the final stages of formulating its upcoming five-year business plan, Brazilian energy major Petrobras finds itself at a crossroads when it comes to allocating resources between energy-transition initiatives and oil-and-gas production.
Mexico’s Pemex, US New Fortress drop plans for deepwater natgas project
Mexico's state-owned energy major Pemex and US liquefied natural gas company New Fortress Energy have abandoned plans for a significant deepwater natural gas project in Mexico, according to sources familiar with the matter.
OPEC mulls expanding membership to include Brazil
OPEC is in discussions regarding the possibility of broadening its membership, and it appears that Brazil, a significant oil-producing nation, has expressed interest in joining the organisation.
Suriname's state oil company Staatsolie announces Shallow Offshore 2 Bid Round
Suriname's state oil company, Staatsolie, announced a new round of bidding for 11 new offshore oil blocks. Winners are expected to be announced in June of 2024. Suriname is hoping to achieve its first offshore oil output by 2028.
Argentina exploring use of gas to power Bitcoin mining
Massa and Milei both believe Bitcoin can play a role in stabilising Argentina’s economy.
New Fortress Energy Charters FSRU to start operations at Brazilian LNG terminal early
LNG developer New Fortress Energy will charter in December Petrobras’ floating storage and regasification unit Energos Winter for its LNG Terminal Gas Sul in Santa Catarina, Brazil.
Peru LNG’s exports down by nearly a third in October
Peru LNG saw export volumes decline by nearly 32% month on month in October 2023.
Venezuela’s PDVSA seeks foreign partners to fix infrastructure after sanctions easing
Chinese refineries face supply challenges amid rising bitumen blend costs, Venezuela sanctions easing
Oil prices defy analysts’ expectations and fall rather than rise after the outbreak of the Israeli-Hamas war
The oil price defied analysts’ expectations and fell rather than rose after the outbreak of the Israeli-Hamas war on October 7. A month later, despite a 3.7% drop in the price of a barrel of Brent, its value has returned to pre-war levels.
African Energy Chamber urges Guyana to maximise hydrocarbon production
Speaking at the AfriCaribbean Trade and Investment Forum, African Energy Chamber executive chairman NJ Ayuk urged Guyana to fully produce its hydrocarbon reserves in order to drive the country’s economic development.
Guyanese government seeks public approval before finalising gas monetisation strategy
The Guyanese government has released a “discussion paper” to gauge the opinions of the public before proceeding with its national gas strategy involving the monetisation of the country’s gas reserves.
Petronas makes significant oil discovery offshore Suriname
Malaysian state oil company Petronas announced that it made a significant oil discovery within the Roystonea-1 exploration well offshore Suriname. Petronas explained that an oil reservoir was found in Roystonea-1.
Brazil’s posts record high oil, gas production in September
Brazil posted in September record-breaking total production of oil and natural gas production as well as separate records for oil and natural gas production, Brazil Energy Insight reported on November 3.
Argentina exploring use of natural gas to power Bitcoin mining
Argentina’s Economy Minister and presidential candidate Sergio Massa has expressed an interest in using untapped natural gas from the Vaca Muerta shale formation to power bitcoin mining operations
New Fortress Energy mulls onshore LNG export terminal in Mexico
The announcement follows a letter dated October 30 sent to New Fortress by the US Department of Energy (DOE), which notified the company that their existing gas-export permit did not encompass the operation of an onshore facility.
MODEC and SBM Offshore fight to secure Suriname's first FPSO contract
SBM Offshore and MODEC are competing in a bidding war to secure the contract for Suriname’s inaugural floating production, storage, and offloading (FPSO) vessel, which will produce 200,000 barrels of oil per day.
SBM Offshore issues requests for information ahead of further Guyanese operations
SBM Offshore Guyana has issued several requests for information as it prepares to bring its third oil-production vessel in the country online before the end of the year.
Light Structures to equip Brazil-bound FPSOs with hull monitoring systems
Light Structures will provide its SENSFIB hull stress monitoring systems for two floating production storage and offloading (FPSO) units commissioned by Petrobras, destined for operations in Brazil.
Petronas discovers oil-bearing layers in well offshore Suriname
Surname’s state oil firm, Staatsolie, confirmed that Malaysian counterpart Petronas discovered several oil-bearing layers in an exploration well off the South American nation’s coastline.
Petrobras reports new crude discovery in Santos Basin's Sagitario prospect
Petrobras has discovered crude oil reserves at the Sagitario prospect, located in block S-M-623 in the Santos Basin. The discovery was identified during drilling at a well situated at a water depth of 1,866 metres in the pre-salt region of the basin.
New Fortress Energy may need to reapply for Mexico LNG project permit, says US
The US Department of Energy has issued a warning to New Fortress Energy, stating that if any component of its Altamira floating LNG project is situated on Mexican soil, the company will have to resubmit its its application for an export permit.
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