LatAmOil - Latin America Oil & Gas
Trinidad and Tobago explores new natural gas deals with Venezuela amidst declining supply
Trinidad and Tobago is poised to strike additional agreements with Venezuela to bolster its natural gas reserves following a recent licence granting access to a former oil giant field.
ExxonMobil shifts sights to natgas production in Guyana
Following Guyana’s emergence as a global crude oil exporter, ExxonMobil is looking to delve into the nation’s extensive natural gas reserves. The focus is particularly on the eastern part of the Exxon-operated Stabroek Block offshore Guyana.
Petronas calls for incentives to boost Suriname's oil and gas sector
Malaysian energy firm Petronas has called on the government of Suriname to offer enhanced incentives to attract energy companies for oil and gas development in the country.
Costa Rica mulls ending RECOPE monopoly for fuel competition
US court greenlights creditors' $21bn claims on Venezuela's Citgo at upcoming auction
Petronas advocates for enhanced incentives in Suriname's oil and gas sector
Zamri Baseri, the head of Malaysia's Petronas in Suriname, has suggested that Suriname should provide increased incentives to energy companies involved in oil and gas developments
Brazil-Russia oil trade up 106% in December
Guyana expects $2.4bn in oil revenue in 2024 amid rising output
The government of Guyana is expecting the country to rake in $3.2bn in oil profits this year, along with an additional $320mn from royalties. This is a rise from the $1.4bn in profits and $218mn in royalties earned in 2023.
Guyana's Natural Resource Fund hits $1.6bn in 2023, sparking government budget review
Guyana's Natural Resource Fund (NRF) has earned a combined $1.6bn in royalties and profit oil revenues for 2023, Finance Minister Ashni Singh confirmed. This comes as the government seeks to fit the bill for its 2024 budget.
Eco Atlantic to assume full control of Guyana offshore block
Trinidad and Tobago opens talks with Europe on supply of LNG
Trinidad and Tobago is in the midst of negotiations with countries in Europe on supplying them with LNG produced from Venezuelan gas.
Guyana to consult with international advisors on 2024 oil blocks auction
The government of Guyana is set to consult with international advisors over the possibility of holding an oil blocks auction in 2024, Vice President Bharrat Jagdeo confirmed during a press conference.
Switzerland's ABB wins bid to build electrical system for Guyana's FPSO oil-producing vessel
Swiss automation technology provider ABB Energy Industries has won a bid to manufacture the complete electrical system for the Errea Wittu FPSO vessel, which is set to operate in ExxonMobil’s Uaru field.
Guyana may earn $6bn annually from ExxonMobil’s Whiptail project
Mexico’s private fuel companies lose market share in 2023
Brazil’s Petrobras aims to complete RNEST refinery expansion in early 2025
Brazilian state-owned energy major Petrobras has announced its plans to resume expansion works on Train One of the Abreu e Lima (RNEST) refinery in the first quarter of 2025.
Sao Paulo state gas market regulations fail to address key issues
The highly awaited revision of Sao Paulo state's wholesale natural gas market regulations, unveiled in the final hours of 2023, has left many industry participants dissatisfied as it fails to address critical concerns.
Pemex submits sustainability plan aimed at soothing green investors’ concerns
Mexican state-owned energy major Pemex has presented a sustainability plan which aims to address environmental, social, and corporate governance (ESG) concerns that have haunted the company.
Guyanese oil sector to add 1,600 local workers
Brazil’s Maha Energy acquires 5% of oil, gas producer 3R Petroleum
Maha Energy has acquired 5% of oil and gas producer 3R Petroleum via a secured derivative instrument that gives the purchaser exposure to 11,999,248 3R Petroleum shares, with a total investment of approximately $69mn.
Guyana on track to becoming largest non-OPEC oil producer by 2027
Guyana’s Finance Minister Ashni Singh stated during his 2024 budget reading that Guyana is on track to becoming the biggest non-OPEC oil and gas producer.
US Treasury grants Citgo temporary reprieve amidst auction proceedings
The US Treasury Department announced on January 16 the extension of temporary protection for Citgo Petroleum, shielding it from creditors until mid-April.
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