LatAmOil - Latin America Oil & Gas

ExxonMobil remains focused on developing Guyanese oil resources amid border dispute

ExxonMobil remains focused on developing its hydrocarbon resources offshore Guyana, keeping in line with the government's energy development objectives, despite the ongoing border dispute with Venezuela.

Chevron triples crude production in Venezuela to 150,000 bpd amid sanctions relief and regional tensions

Chevron has successfully tripled its crude production in Venezuela to 150,000 barrels per day following last year’s first sanctions waiver granted by Washington, according to chief executive Mike Wirth.

Chevron CEO believes Guyana-Venezuela dispute will not devolve into military conflict

Chevron Corp.'s CEO Mike Wirth expressed his belief that the border dispute between Venezuela and Guyana is unlikely to escalate into a military conflict

ExxonMobil doubles down on commitment to Guyana amid border tensions

Guyana earns $90 million in 14th oil lift of 2023

Citgo auction faces limited appeal as major refiners exhibit cautious stance

CGX and Frontera promise oil production at Guyana's Corentyne Block by 2030

CGX Energy and Frontera Energy, partners in the Corentyne Block offshore Guyana, have announced their intention to begin oil production at the offshore block by 2030.

Output at Pemex’s Ku Maloob Zaap field falls nearly 30%

Ku Maloob Zaap, a field currently contributing nearly 40% to Mexico’s state-owned energy major Pemex’s output, has experienced a significant decline of 28.5% in production capacity.

Chevron faces setback in Venezuela as Maduro mulls Essequibo annexation

Venezuela’s PDVSA resumes India oil exports after three-year hiatus

Venezuela’s Maduro reiterates rejection of ICJ jurisdiction on Essequibo ahead of talks with Guyana

BrasFELS shipyard secures contract for modules for Brazil FPSO

BrasFELS Shipyard has clinched a significant contract from Offshore Frontier Solutions to make some sections of the topside modules for a floating production storage and offloading (FPSO) vessel for the Raia project in Brazil.

Brazil’s FPSO Pioneiro de Libra marks six years of production

The FPSO Pioneiro de Libra (PDL), a joint venture between Altera and Ocyan, has completed six years of operation coinciding with the 17th anniversary of the discovery of the Brazilian pre-salt reserves.

Brazil joins OPEC+ as advocate for green transition, says Lula

Brazil has announced its intention to join the OPEC+ alliance with the aim of encouraging other oil-producing nations to transition towards more sustainable alternatives, according to President Luiz Inacio Lula da Silva.

Brazil’s ethanol industry aims for global expansion

The Brazilian sugarcane industry association, Unica, and the foreign trade agency, ApexBrasil, plan to invest BRL19.5mn ($3.9mn) to present ethanol as the most viable path to phasing down fossil fuels.

Guyanese oil production continues as usual amid border dispute

Guyana's oil majors are continuing oil production as usual despite escalating tensions with Venezuela over the disputed Essequibo region, Guyanese President Irfaan Ali confirmed.

Venezuela seeking to reactivate gas field near Guyana border

Venezuela has entered into talks with energy companies over the reopening of the Plataforma Deltana gas field near its border with Guyana.

Guyana emerges as global leader in oil reserves per capita, IMF report finds

Guyana has emerged as a global leader in oil reserves per capita, the International Monetary Fund (IMF) confirmed in its report on the country, with over 11bn barrels of commercially recoverable petroleum.

Guyana to unveil gas strategy, aiming to turn into regional integration hub

Guyana's President, Irfaan Ali, confirmed that regulators are in the process of finalising the nation’s gas strategy, adding that a two-week consultation period was being conducted with a draft soon to be presented to the public for review.

COP28: vague and voluntary promises

To say that COP28 in Dubai has been eagerly awaited would be an understatement.

Brazil commits to methane reduction regulations by 2025

Brazil has pledged to introduce regulations aimed at reducing methane emissions from the oil and gas sector by the end of 2025. The announcement was made at the UN COP28 climate summit's Global Methane Pledge Ministerial.

Petrobras mulls Middle East unit to strengthen OPEC+ ties

Brazil's state-owned energy major Petrobras is exploring the possibility of opening a Middle East unit to strengthen commercial ties in the Persian Gulf region as the country prepares to join OPEC+'s cooperation charter.

Woodside and Mexico Pacific finalize 20-year LNG sales agreement

Brazil’s regulator ANP authorises biodiesel imports in January

Brazil commits to $40bn worth of investments in biofuels by 2037

Iranian oil sellers push up prices as Venezuelan crude rallies

Sellers of sanctioned oil from Iran are hiking offer prices to China after Venezuelan crude rallied following the suspension of US sanctions on the South American producer.

Colombia’s Ecopetrol plans to invest up to $6.7bn in 2024

Colombia insists on conditions for ceasing oil production

During the UN’s COP28 climate change conference in Dubai, Colombia urged the international community to bear the financial burden associated with President Gustavo Petro's strategic shift away from coal and oil towards renewable energy.

Brazil’s regulator ANP submits studies on pre-salt blocks Rubi and Granada

The board of directors of Brazil's National Petroleum Agency (ANP) has approved geological and economic studies that have led to the delineation of two new pre-salt exploration blocks, Rubi and Granada, situated in the Santos Basin.

Petrobras awards cabling firm Prysmian €100mn contract

Italian cabling firm Prysmian has secured a contract worth over €100mn with Brazil's state-owned oil and gas major Petrobras for the provision of 170 km of deep-water electro-hydraulic umbilicals and related specialised offshore and logistic services

Lakach Field development persists amidst Pemex, New Fortress Energy parting ways

Despite the recent separation between Mexico’s state-owned energy major Pemex and US producer New Fortress Energy (NFE), the development of the Lakach field continues to be an enticing prospect for Pemex and other companies.

Pemex approaches completion of Tula refinery's coking plant

Mexico state-owned energy major Pemex is on the verge of finalising preparations for the commencement of operations at the Tula coking plant, with a targeted completion date set for the end of December.

Pemex excluded from global crude majors’ agreement on emissions

Mexico state-owned energy major Pemex has been conspicuously omitted from an agreement signed by 50 prominent global oil companies, all pledging to attain zero pollutant emissions by 2050, S&P Global reported on December 5.

Mexico's first floating LNG plant advances as storage vessel sets sail

The storage vessel for Mexico's inaugural liquefied natural gas (LNG) plant has embarked on its journey from US waters to Altamira, Mexico, according to ship-tracking data.

Brazil’s regulator grants TGS licence for seismic research in Equatorial Margin

Brazil’s environmental regulator Ibama has granted TGS the environmental licence for a multi-client 3D seismic research activity in the Equatorial Margin region, covering the Para-Maranhao and Foz do Amazonas basins.

FTC probes $53bn Chevron-Hess deal

The US Federal Trade Commission is seeking additional information on the $53bn Chevron and Hess deal, the companies have said.

Guyana to continue oil development amid Venezuela border threat

Guyana's Vice President, Dr. Bharrat Jagdeo, dismissed Venezuelan President Nicolas Maduro's annexation plans for the Essequibo region, affirming it won't hinder Guyana's oil developments. “If we pause any of our developments, Maduro succeeds.

Guyana VP assures oil companies that Venezuela not a threat

Guyana's Vice President, Dr Bharrat Jagdeo, has urged oil companies operating in the country's exclusive economic zone (EEZ) to disregard Venezuelan President Nicolas Maduro's recent directive to vacate.

Iran to overhaul Syrian refinery after repair job in Venezuela

Iran will soon begin repair work at one of Syria’s only two oil refineries, an official with the National Iranian Oil Refining and Distribution (NIORDC) said.

Guyana agrees to bilateral talks with Venezuela as Essequibo dispute rages

Brazil expands natural gas capacity alongside offshore wind legislation

Brazil has approved a new legal framework for offshore wind energy, paving the way for the addition of 4.25 GW of natural gas thermoelectric plant capacity. This initiative is expected to support the integration of new pipeline networks.

Brazil's base oils output plummets 62% in October on maintenance schedules

According to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the country's output in October stood at 22,515 cubic metres (20,265 tonnes), down significantly from 52,370 cubic metres during the same period the previous year.

Colombia appoints new head of hydrocarbons regulator

LatAmOil: ExxonMobil committed to Guyana despite Venezuelan vote

Venezuelan President Maduro to grant oil exploration licences in disputed Essequibo

Guyana's oil revenues to hit $11 billion by 2028

US diesel shipper takes long route around South America amid Panama Canal drought-induced bottlenecks

Chevron announces $16bn 2024 capex budget

Chevron has announced a capital expenditure range of $15.5 to $16.5bn for consolidated subsidiaries, and an affiliate capex budget of around $3bn for 2024, an increase of 11% compared with 2023.