LatAmOil - Latin America Oil & Gas
ExxonMobil on track for $14bn further earnings, cash flow growth by 2027
ExxonMobil expects to deliver $14bn annual earnings and cash flow growth from the end of 2023-2027, according to a new corporate plan.
IMF forecasts more oil profits for Guyana once ExxonMobil recovers costs from Stabroek Block
The International Monetary Fund (IMF) revealed in its country report on Guyana that it expects the nation’s oil profits to be boosted once ExxonMobil and its partners recover costs from their oil projects in the offshore Stabroek Block.
ExxonMobil commits to Guyanese oil production amid border dispute with Venezuela
ExxonMobil chief executive officer Darren Woods has assured that his company remains focused on continuing its oil production in Guyana in an effort to assist the nation amid its border dispute with Venezuela.
Mexico Pacific signs 20-year LNG supply deal with Woodside Energy
Mexico Pacific will supply Australian oil ang gas company Woodside Energy with 1.3mn tonnes per year of LNG for a 20-year period.
Peru LNG reports export volumes up slightly m/m in November
Peru LNG, the operator of a natural gas liquefaction plant and export terminal in Pampa Melchorita, saw export volumes rise by more than 7% month on month in November 2023.
J&F Group enters Argentine oil and gas sector
J&F Group, Brazil’s largest conglomerate, has acquired two oil and gas production fields from Pluspetrol, marking the company’s entry into Argentina’s oil and gas sector.
Saipem wins $1.9bn contracts with ExxonMobil Guyana and Equinor
Italian engineering, drilling and construction company Saipem has won two offshore contracts with ExxonMobil Guyana and Equinor with a combined value of $1.9bn, which will see the company become involved in the upcoming Whiptail project.
Brazil’s crude, gas output at 4.5mn barrels in October
Brazil's crude and gas regulator the National Agency of Petroleum, Natural Gas and Biofuels (ANP) said the country’s production of crude oil and natural gas in October averaged 4.502mn barrels of oil equivalent per day.
Brazil’s environmental regulator greenlights licence for FSO Pargo
The Brazilian Environmental Institute (Ibama) has granted an operating licence for the floating storage and offloading (FSO) unit Pargo, which will be operated by Perenco at the Pargo Complex in the Campos Basin.
Petrobras starts natural gas contracts with CEG, CEG Rio
Petrobras has announced it has entered into new natural gas contracts with Companhia Distribuidora de Gas do Rio de Janeiro (CEG) and CEG RIO, the Brazilian state-owned energy major said on December 1.
Bolivian president blames fuel shortages on smugglers, speculators
Bolivia’s President Luis Arce has blamed recent fuel shortages on speculators, claiming that black marketers are diverting large quantities of fuel.
Mexico’s hydrocarbons trade group welcomes regulator’s revisions
The Mexican Association of Hydrocarbon Companies (AMEXHI) has praised the changes made by the National Hydrocarbons Commission (CNH) to various provisions related to the exploration and extraction of hydrocarbons.
Petrobras installs wind measurement sensor in Pescada field
Petrobras has installed a LiDAR (Light Detection and Ranging) sensor on the PPE-1A platform in the Pescada field, located in Rio Grande do Norte, Brazil Energy Insight reported on December 1.
Brazilian Braskem's cash flow could be hit by more claims if Alagoas mine collapses: Fitch
COP28 leader defends controversial remarks
Sultan al-Jaber, the oil executive who is leading the COP28 climate summit in Dubai, has rocked the conference with highly controversial remarks that there is “no science” that phasing out fossil fuels is necessary.
IMF praises Guyana's modernised management of oil and gas sector
The International Monetary Fund concluded in its latest report on Guyana that the nation’s government has made significant progress in modernising its governance of the country’s oil and gas industry.
TotalEnergies to share methane detection, measurement technology with SOCAR, Sonangol, Petrobras
TotalEnergies will share its AUSEA methane detection, measurement technology with SOCAR, Sonangol and Petrobras.
COP28: Major oil companies pledge to cut methane emissions
About half of the world's oil firms, totalling almost 50 companies, have committed to achieving "near zero" methane emissions and discontinuing routine flaring in their operations by 2030, and achieving net zero by 2050.
Transition risks for petrostates higher than ever, says report
Petrostates are currently confronted with significant challenges arising from the ongoing energy transition. The diminishing demand for oil and gas is exerting downward pressure on commodity prices, which in turn threatens future revenue streams.
Liza Destiny ramps up output in October
Production at the Liza 1 project offshore Guyana rebounded in October, with the Liza Destiny floating production, storage and offloading (FPSO) vessel passing production levels of 150,000 bpd on several occasions.
US welcomes Venezuela's electoral concessions, demands release of political prisoners to avoid sanctions reimposition
Liquid content in Guyana gas fields could complicate LNG facility deployment
ExxonMobil Guyana president Alistair Routledge admitted that deployment of a floating LNG facility in the gassier fields of the Stabroek Block near the Suriname border could prove challenging due to the high variability of their liquid contents.
Shell decreases stake in Atlantic LNG as BP increases holding in restructuring deal
A restructuring agreement set to be signed before December 8 will see Shell reduce its ownership stake in Trinidad’s Atlantic LNG facility, while at the same time BP and Trinidad’s state-run National Gas Co. (NGC) will increase their stakes.
OPEC+ extends voluntary cuts as Brazil prepares to join
The group failed to agree on an additional cut that would apply to all members, so leading producers have once again decided to cut over and above the OPEC+ quotas
Petrobras seeks approval from regulator to renegotiate refinery sales terms
Brazil's state-owned energy major Petrobras has formally requested the renegotiation of terms related to the sale of certain oil refining and natural gas assets.
Oil sector expected to play major role Argentine economic recover under Milei administration
Argentine president-elect Javier Milei is poised to rely on the nation’s oil and gas industry to revitalize the struggling economy, Wood Mackenzie principal analyst Adrian Lara observed.
Follow us online