LatAmOil - Latin America Oil & Gas
Saipem Guyana seeks health services for Stabroek Block operations
Saipem Guyana has issued an expression of interest (EOI) for occupational health and infirmary services in an effort to improve on-site medical services at the Stabroek Block offshore Guyana.
Oil majors bet big on Venezuela defying uncertainties over US sanctions relief
Oil executives from major global companies are rushing to seize opportunities in Venezuela following the recent easing of US sanctions.
Petrobras and European Energy mull e-methanol plant in Brazil
Petrobras and Danish firm European Energy have signed a MoU regarding building an e-methanol plant in Brazil. E-methanol has the potential to be used in industrial applications and as a fuel, particularly in maritime transport.
Brazil's Grepar to take Petrobras to court after cancellation of refinery sale
Grepar, the prospective buyer of Petrobras' Lubnor refinery in Fortaleza, Brazil, has announced its intention to take legal action and seek compensation after the state-owned energy major cancelled the sale on November 27.
Brazil’s Eneva aims to create energy major by merging with Vibra
YPF, Wintershall Dea, Dow to explore carbon capture and storage in Argentina
Argentina state oil form YPF has signed a Memorandum of Understanding (MoU) with German crude and natural gas producer Wintershall Dea and American material science leader Dow to explore carbon capture and storage (CCS) opportunities in Argentina.
Guyana crude exports to Europe rise significantly in 2023
Guyana’s crude exports to Europe rose to 215,000 barrels per day (bpd) during the first half of 2023, consisting of 63% of the nation's total exports 338,254 bpd.
Petrobras, Rio Grande do Norte’s Potigas sign Henry Hub-linked gas contract
The two firms formalised two new agreements for natural gas supply, along with a modification to an existing deal, as reported by Brazil’s oil and gas regulator the ANP.
Brazil’s oil, gas regulator authorises biodiesel imports
Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) has revised the regulations governing biodiesel imports heralding a shift which is to allow foreign biofuels to contribute up to 20% of the nation's overall supply.
Guyana to achieve oil payback in under ten years, WoodMac analyst says
A Wood Mackenzie industry analyst has projected that the Guyana basin should achieve payback within eight to 12 years with oil sales in the range of $60 to $80 per barrel. Wood Mac expects Guyana to show particularly strong upstream growth.
Brazil's Petrobras plans to invest $102bn by 2028
Brazil’s Vale and Petrobras aim to drive demand for green hydrogen
Brazil’s state-owned energy major, Petrobras, and mining major Vale have said the two firms have the potential to underpin Brazilian demand for green hydrogen.
Mexico’s investments in hydrocarbons at $65bn in September
As of September 2023, the sanctioned investment for exploration, assessment, and development plans in Mexico's hydrocarbons industry reached an impressive $65.19bn.
Mexico Pacific awards contract for Saguaro LNG pipeline
Mexico Pacific, the developer behind the planned $14bn Saguaro Energia LNG export project, has granted the engineering, procurement, and construction (EPC) contract for the pipeline that will supply natural gas to the proposed facility.
Milei's hopes to deregulate Argentine oil and gas sector hinge on economic stability
Milei faces stern test in effort to privatise energy company YPF
Argentine president-elect Javier Milei faces a stern challenge in his pursuit to fully privatise state oil firm YPF, particularly as he contends with the nation's oil provinces who hold interest in the company.
Guyana to train 2,000 workers for overseas ExxonMobil jobs
Guyana's European oil exports soar to 215,000 bpd in H1 2023
Guyana increased its share in the European oil market during the first half of 2023, exporting 215,000 barrels per day (bpd). This comprises 63% of Guyana’s total exports during the period, compared to 50% last year.
Chinese independent refiners 'in disarray' as US eases sanctions on Venezuelan oil
The unexpected lifting of US sanctions on Venezuelan oil has unsettled China's independent refiners, prompting a pause in new purchases due to significant discrepancies in offer prices, according to trading sources.
Brazil environment regulator to rule if Petrobras can drill near Amazon River in early 2024
Brazil's environment protection agency Ibama is expected to decide by early next year if state-owned energy major Petrobras can drill near the mouth of the Amazon River, according to the regulator’s president, Rodrigo Agostinho.
LatAmOil: PdVSA signs oil-for-debt agreement with France’s M&P
Natural gas costs rise in Brazil's north-east state of Pernambuco, Rio Grande do Norte
The north-eastern states of Pernambuco and Rio Grande do Norte in Brazil are witnessing a rise in natural gas costs, though they still remain among the lowest in the country.
Brazil’s cabinet seeking for Petrobras CEO replacement, say sources
Pemex’s Texas Deer Park refinery hits 16-year operational peak
The Deer Park refinery, nestled in Houston, Texas, has achieved its most impressive operational and financial performance in over 16 years after Mexico’s state-owned energy major Pemex took over the facility.
Colombia’s Ecopetrol stock soars as Constitutional court knocks oil, mining tax
Shares in Colombia’s state-owned energy major Ecopetrol surged after the Constitutional court invalidated a measure that had previously imposed increased taxes on oil and coal producers.
US court suspends enforcement of Argentina's $16.1bn payment to YPF plaintiffs
US District Judge Loretta Preska suspended the enforcement of a $16.1bn ruling against the Argentine government in a case concerning the nationalisation of state oil firm YPF.
Argentina's president-elect selects new YPF chief
Argentina’s president-elect Javier Milei has selected Horacio Marín to be the next president and CEO of state oil firm YPF, a spokesperson for Milei’s La Libertad Avanza party confirmed
Petrobras, Shearwater sign deal for seismic exploration
Brazil’s state-owned energy major Petrobras and Norwegian marine seismic services firm Shearwater have sign a deal to jointly research seismic exploration and field developments, Offshore Engineer reported on November 22.
Trinidad company sees rise in freight forwarding demand in Guyana
The managing director of Trinidadian freight forwarding services Cargo Consolidators Agency has revealed that his company has seen an uptick in demand in the Guyanese market.
Guyana FPSO builder seeks supplier for water quality testing services
Guyana Deep Water Operations Incorporated (GDO), the local subsidy of FPSO builder SBM Offshore, released a request for proposals (RFP) for a supplier of water quality testing services for both the company’s onshore and offshore needs in Guyana.
US calls on oil companies to limit operations in Venezuela despite sanctions easing
The temporary easing of sanctions on Venezuela's oil sector must not be viewed as an endorsement for a full-scale resumption of operations, US Treasury officials have warned.
Subsea7 awarded decommissioning contract in Brazil
Subsea7 has announced the award of a sizeable contract by Shell for the decommissioning of subsea infrastructure associated with the FPSO Fluminense in the Bijupira and Salema fields of the Campos Basin, at 700m water depth.
BW Energy concludes acquisition of FPSO Cidade de Vitoria in Brazil
BW Energy has finalised the acquisition of the floating production storage and offloading (FPSO) Cidade de Vitoria from Saipem which is set to bolster oil production capabilities offshore Brazil.
Petrobras CEO under increasing pressure on gasoline prices, investment plans
Dissatisfaction with Petrobras CEO Jean Paul Prates is growing within President Luiz Inacio Lula da Silva's government, with calls for the company to align more closely with inflation-fighting measures and economic stimulus.
Guyana's minister of natural resources reveals name of sixth FPSO
Guyana's sixth floating production storage and offloading (FPSO) vessel has been named Jaguar. The vessel, set to boast a production capacity of 275,000 barrels, will be used in ExxonMobil’s upcoming Whiptail development.
Mexico Pacific and the state of Chihuahua partner on Sierra Madre pipeline
Mexico Pacific and the government of Chihuahua have signed a collaboration agreement to propel the development and operation of the Sierra Madre natural gas pipeline.
Pemex’s Dos Bocas refinery expects profitability in 20 years, executive says
The Dos Bocas oil refinery, a flagship project for the Mexican government in the energy sector, is projected to become profitable in 20 years. Yet concerns persist regarding its ability to meet production targets.
Mexican state of Tamaulipas secures nearly $19bn for hydrocarbon investments
The Mexican state of Tamaulipas has secured $18.96bn in investments from national and foreign oil companies for the hydrocarbons sector. This figure is expected to increase as more development plans in northeast Mexico are finalised.
Colombia and Venezuela explore oil and electricity collaboration
Colombian President Gustavo Petro announced potential collaboration between state oil company Ecopetrol and Venezuela's PDVSA oil company, while his Venezuelan counterpart expressed interest in importing Colombian electricity.
Guyana's 2023 oil production exceeds 100mn barrels in nine months
Stabroek Block operator ExxonMobil produced over 102mn barrels of crude offshore Guyana from January until September this year, with an average daily output of 374,000 barrels per day.
ExxonMobil on the hunt for more suppliers for its Guyana operations
ExxonMobil Guyana is looking to engage with multiple suppliers over the provision of a new set of onshore and offshore services as part of its Stabroek Block operations offshore Guyana.
Brazil's president urges Petrobras to adjust investment plan
Brazil's president, Luiz Inacio Lula da Silva, has reportedly urged the head of state-run oil firm Petrobras to adjust the company's 2024-2028 investment plan, with a focus on prioritising local job creation.
Mexico’s president requests weekly spending updates from Pemex
In an effort to curb excessive spending at Pemex, Mexico’s state-owned energy major, President Andres Manuel Lopez Obrador has directed the company to provide weekly spending updates to the head of the country's tax authority.
Brazil’s Braskem open to due diligence following ADNOC's offer for Novonor’s stake
Brazil’s petrochemicals major, Braskem, has expressed its willingness to undergo due diligence across all of its operations in response to an offer from Abu Dhabi's state-owned Adnoc for a controlling stake in the company.
Shell and Trinidad's NGC nearing approval for joint gas venture in Venezuelan waters
Venezuela is set to grant a licence to Shell and Trinidad and Tobago's National Gas Co. (NGC) to exploit a promising offshore natural gas field, with plans to export the production to Venezuela.
Incoming Argentine leader Milei pledges to privatise energy company YPF
Argentina’s president-elect Javier Milei has confirmed his plans to privatise state energy company YPF
Nigeria and Argentina look to partner on natural gas exploration, production projects
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is seeking a collaborative venture in natural gas exploration and production with Argentina, it has revealed.
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