LatAmOil - Latin America Oil & Gas
SBM Offshore delivers latest Guyana FPSO ahead of schedule
SBM Offshore CEO Bruno Chabas announced that his company had successfully delivered and put into operation the Prosperity floating production storage and offloading (FPSO) vessel ahead of schedule.
Argentinian presidential candidates face $12bn energy subsidy challenge
The winner of Argentina’s presidential runoff between Sergio Massa and Javier Milei is set to face a monumental challenge in deciding what to do about state energy subsidies that are aimed at curbing consumers’ energy bills.
Peru’s President Boluarte expedites natural gas expansion in southern regions
Peruvian President Dina Boluarte asserted on November 13 that her administration has steadfastly prioritised the promotion and swift implementation of widespread natural gas usage since its inception.
Guyana's Natural Resource Fund hits $2bn
Guyana’s Natural Resource Fund (NRF) has reached a market value of $2bn for the first time since its establishment in 2019, a report from the Bank of Guyana showed.
Eco Atlantic receives government approval to operate in Guyana's Orinduik offshore block
Eco Atlantic Oil & Gas announced that it had received approval from Guyana’s Minister of Natural Resources for its transaction to acquire a 60% stake in the Orinduik offshore block.
Venezuelan coke gains traction in India as sanctions ease, narrowing discounts
The discount on Venezuelan petroleum coke in India's key market is narrowing after last month’s easing of US sanctions on Caracas. Indian cement makers are increasingly eyeing Venezuelan coke as an alternative to US and Saudi product.
North America’s LNG export capacity likely to more than double by 2027
North America’s LNG is likely to more than double by 2027, said the US Energy Information Administration (EIA). The agency considers the US, Canada and Mexico to be North America.
Petroecuador to shut Yasuni oil block following referendum
Ecuador's state-owned oil firm, Petroecuador, has announced its intention to cease operations in the expansive Yasuni ecological reserve within the Amazon rainforest by August of 2024.
Guyana demands that ExxonMobil accelerate gas development
Guyanese Vice President Dr Bharrat Jagdeo announced that the government wants ExxonMobil to accelerate its monetisation of Guyana’s growing gas assets.
ExxonMobil Guyana bolstered by arrival of three offshore terminal tugs
Maritime vessel manufacturer KOTUG confirmed that its subsidiary KOTUG Guyana has provided ExxonMobil Guyana with three new offshore terminal tugs for its offshore operations
Guyana is key to global liquids production, research firm suggests
Specialist market research and consultancy firm Westwood Global Energy Group believes that Guyana will play an instrumental role in driving liquids production, namely crude, condensate and NGLs, to a forecasted 100mn bpd globally by 2030.
PetroChina and Repsol to pivot from Canadian to Venezuelan crude amid US sanctions relief
In the wake of a temporary relaxation of oil sanctions on Caracas, two prominent purchasers of Canadian heavy crude exports from the US Gulf coast are positioned to escalate their intake of Venezuelan crude, potentially displacing Canadian crude.
Petrobras says Rota 3 domestic gas pipeline will be finished on schedule
Brazil's Petrobras says construction work on the Rota 3 pipeline, which will deliver natural gas from offshore fields in the Santos basin, is moving forward on schedule.
ExxonMobil begins production at Payara project offshore Guyana
ExxonMobil announced on Tuesday that it has begun producing oil at the Payara Development Project at the Stabroek block offshore Guyana
CGX and Frontera announce landmark discovery at Wei-1 well offshore Guyana
CGX Energy and Frontera Energy, partners in the Petroleum Prospecting Licence for the Corentyne block offshore Guyana, announced the discovery of 35 metres of net pay at the Wei-1 well around 200 kilometres from the Guyanese capital of Georgetown.
ExxonMobil completes $1.26bn purchase of Liza Unity FPSO
ExxonMobil has completed the purchase of the Liza Unity FPSO from SBM Offshore, used in the Liza Phase 2 development in the Stabroek block offshore Guyana
Petronas to drill two new wells offshore Suriname
Staatsolie confirms that Malaysia’s Petronas is planning to drill new wells offshore Suriname next year to gather more data for its field plans before submitting its final investment decision for Block 52.
Guyana VP admits state bent rules to include locals in maiden oil auction
Guyana Vice President Bharrat Jagdeo said that the government had decided to forego the requirement of experience to allow local bidders to participate in the nation’s first-ever oil bidding round.
LatAmOil: Suriname launches Shallow Offshore 2 Bid Round
US sets deadline for Venezuela to comply with deal and avoid sanctions reimposition
The United States may reintroduce sanctions targeting Venezuela's oil sector unless the nation makes strides towards democratic elections and proceeds with the release of additional political prisoners by November 30.
Abu Dhabi’s ADNOC launches fresh non-binding offer to acquire controlling stake at Brazil’s Braskem
Guyana's EPA introduces offloading measures for Payara FPSO
Guyana’s Environmental Protection Agency (EPA) has put in place a series of measures to guide the offloading procedures of the Prosperity floating production storage and offloading (FPSO) operated in ExxonMobil’s Payara offshore project.
What is pushing oil price down?
The price of crude oil has fallen 6.6% in the week ending November 10, with Brent closing below $80 a barrel for the first time since July. Only a few months ago analysts were predicting triple-digit prices. Now that looks like a dream.
What is pushing oil price down?
The price of crude oil has fallen 6.6% in the week ending November 10, with Brent closing below $80 a barrel for the first time since July. Only a few months ago analysts were predicting triple-digit prices. Now that looks like a dream.
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