LatAmOil - Latin America Oil & Gas

15 March 2024

Brazilian drilling contractor Petroserv agrees to takeover by financial consortium

14 March 2024

Brazilian offshore drilling Petroserv Marine is poised to undergo acquisition by a consortium of financial investors.

US produced more oil in 2023 than any country for sixth consecutive year

14 March 2024

The US produced more oil than any country at any time for the past six years in a row, according to the US Energy Information Administration.

ExxonMobil Guyana aims to lift Payara output to 250,000 bpd

13 March 2024

ExxonMobil's Senior Vice President, Neil Chapman, outlined the company's aim to optimise the infrastructure of the Payara project offshore Guyana to achieve a production rate of 250,000 barrels per day (bpd).

YPF expects final investment decision on Argentine LNG project

13 March 2024

Argentine national oil company YPF is expecting to make a final investment decision (FID) on a liquified natural gas (LNG) export project in the Vaca Muerta shale formation it’s developing with Malaysia’s Petronas.

Mexico’s main opposition candidate plans refinery closures to reduce emissions

13 March 2024

Xóchitl Gálvez, the leading opposition candidate in Mexico's June presidential elections, has announced a commitment to close two out of the country's six refineries with the aim of reducing urban pollution levels.

Brazil government's Petrobras intervention sparks 10% shares drop

13 March 2024

Brazil's government has intervened in the national oil company (NOC) Petrobras, directing the state-run oil company to reinvest funds earmarked for dividends, which caused a 10% drop in the NOC’s shares.

Investment in infrastructure and training crucial to Guyana's economic growth, ExxonMobil chief claims

13 March 2024

ExxonMobil Guyana President Alistair Routledge claimed that investments in infrastructure and training initiatives are crucial for enhancing the competitiveness of Guyana's growing economy.

Blue Water secures Suriname logistics and shore base supply contract

13 March 2024

Blue Water has secured a contract with Noble Drilling for the provision of services for the latter’s exploration venture in Suriname.

YPF to invest $3bn in Vaca Muerta shale production

13 March 2024

Argentine national oil company YPF has announced plans to invest $3bn in its shale operations in the Vaca Muerta formation. As reported by Reuters, this $3bn investment will be derived from YPF’s $5bn capital expenditure for 2024.

Rystad Energy revises Venezuela’s crude output forecast amid uncertainty over sanctions

13 March 2024

Norwegian consultancy Rystad Energy has revised its near-term forecasts of Venezuela's crude output, citing reservations amid current global oil market dynamics.

Sweden’s Maha Energy finalises acquisition of stake in Venezuelan oil firm PetroUrdaneta

13 March 2024

Swedish energy company Maha Energy has finalised the signing of definitive agreements and the payment of €4.6mn, proceeding with the acquisition of an indirect equity interest in the Venezuelan oil firm PetroUrdaneta from Novonor Latinvest Energy.

YPF to make final investment decision on LNG export project

12 March 2024

Argentine national oil company YPF is set to make a final investment decision on the first phase of its planned liquified natural gas export project with Petronas in 2025.

Argentine Medanito crude hits three-month high

12 March 2024

Argentina's Medanito crude oil has surged to a three-month high of $2.50 per barrel, driven by rising demand from US West Coast refiners gearing up for the summer driving season.

Guyana one of four incremental oil suppliers, S&P reveals

12 March 2024

Carlos Pascual, senior vice president for Global Energy and International Affairs at S&P Global Commodity Insights, stated that countries outside OPEC, led by Guyana, are driving oil supply past demand.

Chevron resumes drilling operations in Venezuela amid US regulatory pressures

12 March 2024

US oil company Chevron Corp. has resumed drilling operations in the Orinoco belt region of Venezuela, aiming to bolster production amid looming regulatory pressures from Washington.

YPF plans to divest ageing oil fields in push to drive Vaca Muerta shale investment

11 March 2024

Argentina's national oil company YPF SA has unveiled its plan to divest ageing oil fields, potentially freeing up $800mn which it hopes to invest in shale reserve exploration in the Vaca Muerta formation.

Saipem Guyana to construct more subsea structures for oil industry

11 March 2024

Saipem Guyana is poised to acquire 81,000 square meters of land at the Vreed-en-Hoop Shore Base Inc. (VEHSI) facility by the third quarter of 2024 with the goal of building subsea structures to support the oil industry.

Petrobras awards Omni Taxi Aereo contracts for unmanned aerial missions

11 March 2024

Omni Taxi Aereo, a part of the Omni Helicopters International Group, has been awarded two contracts by Brazil’s national oil company Petrobras to operate unmanned aerial vehicles in offshore missions.

Petrobras expands sale of renewable diesel to Sao Paulo state

11 March 2024

Brazil's national oil company Petrobras has expanded the sale of renewable diesel, known as Diesel R5, to the state of Sao Paulo.

BP initiates drilling of pioneer well in Pau Brasil Block

11 March 2024

Energy major BP, the operator of the Pau Brasil block in Brazil’s Santos Basin pre-salt, is set to commence drilling the pioneer well on April 24.

Petrobras, MOL ink deals for cargo transfer vessels

11 March 2024

Japanese shipping company Mitsui O.S.K. Lines and Brazil's national oil company Petrobras have entered a charter contract for the cargo transfer vessel SeaLoader 2.

Pemex CEO criticises Moody's downgrade, commits $680mn for deep water exploration

8 March 2024

Octavio Romero, the CEO of Mexico’s national oil company Pemex, has criticised Moody's after the credit agency lowered the company’s rating.

Exxon seeks arbitration in Chevron take-over of Hess

8 March 2024

ExxonMobil has filed for arbitration to claims rights in the Chevron take -over of Hess, including Hess’ valuable rights to 30% of the Stabroek Block project off Guyana.