LatAmOil - Latin America Oil & Gas
UN Security Council to review Venezuela's territorial claim over Guyana's Essequibo region
Guyana president dismisses Venezuela's claims on oil sector and US military presence
Guyanese President Irfaan Ali has refuted Venezuela's “baseless allegations” regarding Guyana's oil industry, its ties with ExxonMobil, and the purported presence of US Southern Command military installations.
Guyana stands firm against Venezuela’s assertive claims, vice president says
Guyana maintains its unwavering vigilance as Venezuela persists in its aggressive assertions, particularly regarding the Essequibo region, which forms two thirds of Guyanese territory, Vice President Bharrat Jagdeo reiterated during a press briefing.
Venezuelan ex-oil minister arrested in corruption probe
Former Venezuelan Oil Minister Tareck El Aissami was arrested on April 9 by Venezuelan authorities in connection with a corruption investigation, following nearly a year of evading capture subsequent to his resignation as PDVSA chief.
TMC Compressors awarded contract from MODEC to supply air system for Guyana FPSO
Compressed air systems supplier TMC Compressors has been awarded a contract by MODEC to supply a large-capacity air compressor system for use in the Errea Wittu floating production, storage and offloading vessel.
Mexico to cut 330,000 bpd or more of oil exports in May
Mexico's national oil company Pemex plans to axe the exports of 330,000 or more barrels per day of oil in May, anonymous sources have told Reuters. The sources are traders.
LatAmOil: Former US officials, senators call on Biden to re-impose Venezuela sanctions
Former US officials, senators call on Biden to re-impose Venezuela sanctions
Former US officials are urging the administration of US President Joe Biden to reimpose oil and gas sanctions on Venezuela should the current regime fail to uphold its democratic commitments.
BP looks set to sell three ageing Trinidad fields to Perenco
Supermajor BP is closing in on a deal to sell some of its Trinidad and Tobago oil and gas assets to Perenco, three people familiar with the talks have said.
Two contractors in Guyana's gas-to-energy project file for arbitration over $90mn cost overruns
Two contractors involved in the construction of the Guyanese Government's gas-to-energy project filed for arbitration over cost overruns amounting to $90mn.
Guyana puts UN, OAS on notice amid renewed border tensions with Venezuela
Guyana's government has condemned Venezuelan President Nicolas Maduro's signing of the "Organic Law for the Defence of Guayana Esequiba", denouncing it as an attempt to annex over two-thirds of Guyana's sovereign territory.
Production in Argentina's Vaca Muerta rises 2.1% in February
Oil production in Vaca Muerta surged by 2.1% in February, reaching 353,044 barrels per day and comprising 37% of Argentina's total output, a report by Regional Investment Consulting stated.
Venezuelan oil exports to US surge 280% in January
Recent data from the US Energy Information Administration reveals a remarkable 280% surge in Venezuelan oil exports to the United States in January 2024, totalling 152,000 bpd, compared to the same period a year earlier (40,000 bpd).
Former US officials call on Biden administration to reinstate Venezuela sanctions over democratic concerns
Former US officials, including diplomats and politics experts, are urging the Biden administration to reimpose sanctions on Venezuelan oil exports should the current regime fail to uphold its democratic commitments ahead of an impending deadline.
ExxonMobil to halt Guyana offshore oil production in Q3 due to gas-to-energy project
ExxonMobil, Guyana's Stabroek Block operator, plans to halt oil production in the third quarter of 2024 to advance construction of the gas pipeline network for the gas-to-energy project.
SBM Offshore subsidiary seeks air diving services for Guyana FPSOs
SBM Offshore's subsidiary, Guyana Deepwater Operations Incorporated, is searching for partnerships to provide air diving services for its fleet of floating production storage and offloading vessels in the Stabroek Block.
US Senator Rick Scott urges Biden to reinstate Venezuela sanctions
US Republican Senator Rick Scott has called for immediate action from President Joe Biden to reimpose sanctions on Venezuelan oil exports, accusing the US administration of being misled by Maduro and his associates.
Guyana Natural Resource Fund earns $604mn in Q1 from oil activities
Funds totalling GYD126bn ($604mn) were deposited into Guyana’s Natural Resource Fund over the course of the first quarter of 2024.
Crude oil prices remain in motion amid Middle East uncertainty
Fresh talks between Israel and Hamas at the start of the week prompted Brent and WTI prices to slip from higher prices during the previous week, but a lack of progress in the talks by mid-week and a pending new attack by Israel prompted concern.
Venezuela backs OPEC+ decision to maintain oil supply amid market evaluation
Venezuela's Oil Minister and PDVSA chief, Pedro Tellechea, voiced support on April 3 for the OPEC+ Alliance's decision to maintain current oil supply levels, including voluntary production cuts, as reported by the Venezuelan government.
Petro-Victory Energy successfully completes oil rig transition at Brazil’s Tutoia formation
Petro-Victory Energy’s SPT-129 workover rig transitioned from the SJ-01 well to the SJ-06 in the Totoia formation located in the São João field in Brazil, initiating a workover program aimed at expanding the well's capabilities.
Angola and Brazil forge deeper ties in oil and gas collaboration
Angola and Brazil are poised to strengthen their collaboration within the oil and gas sectors, driven by their sustained growth trajectories and a shared vision for mutual development.
Clash between Petrobras CEO and Brazil’s minister of energy reaches critical point
The ongoing feud between Brazil’s Minister of Mines and Energy and the CEO at the country’s national oil company Petrobras has reached a critical juncture, exposing deep-seated tensions within Brazil's energy sector.
ExxonMobil output threatened as Guyana-Venezuela tensions return
Tensions between Venezuela and Guyana over a long-standing border dispute are resurfacing, thereby threatening ExxonMobil’s oil output.
Peru LNG increases shipments in March, eyes further growth
Peru LNG's liquefaction facility in Pampa Melchorita completed the shipment of five liquefied natural gas cargoes in March, marking a one-cargo increase compared to the previous month, according to data provided by Perupetro.
Shell seeks long-term US licence for Venezuela's Dragon Gas project
Shell is pursuing a long-term licence from the US before committing to the $1bn Dragon natural gas project in Venezuela near the maritime border with Trinidad and Tobago.
Fire at Pemex’s Akal-B Oil platform leaves one dead, two seriously injured
A fire that broke out at an offshore platform operated by Mexico's national oil company Pemex has resulted in at least one contractor killed and two others in grave condition.
Guyana Natural Resource Fund earns $604mn in first quarter
Funds totalling GYD$126bn ($604mn) were deposited into Guyana's Natural Resource Fund over the course of the first quarter of 2024, as reported by the government.
Noble Voyager to drill new exploration well offshore Suriname
Petronas Suriname E&P, a subsidiary of Malaysia’s state-owned energy giant Petronas, has extended its contract with Noble Corporation's Noble Voyager drillship for one additional well offshore Suriname.
Petrobras booming offshore crude output to support manufacturing of PSVs
Brazilian vessel owners and shipyards will be encouraged to build fleets of platform supply vessels (PSVs) and other support ships to cover rising demand from the nation’s booming offshore sector.
Mexico’s oil investments hit record in 2023
In 2023, both Mexico’s national oil company (NOC) Pemex and private oil companies operating in the country set a record for investments in migrated projects, associations, and blocks acquired through bidding rounds.
Pemex cancels some crude exports in April as Dos Bocas start-up inminent, output hit lows in Feburary
Mexico’s national oil company Pemex requested its trading unit to cancel up to 436,000 barrels per day of crude exports in April as it gets ready to process domestic oil at the new Dos Bocas refinery
Mexico’s oil production to rise by 45% by 2030, says government
Meixico's Ministry of Energy forecasts a notable surge in oil production by 2030, projecting a substantial increase to 2.390mn barrels per day, marking a 44.6% rise from 2023 levels.
Decisive week ahead for Petrobras CEO’s permanence on post
Brazil's government is considering candidates to potentially replace the CEO at the national oil company (NOC) Petrobras, Jean Paul Prates, in the coming days, although sources close to the state-run oil firm suggest his departure is not confirmed.
Mexican biofuels trade group urges Pemex to increase their use to decarbonise transport
In addition to urging national oil company Pemex to embrace biofuels, the Mexican Biofuel Mobility Association has highlighted the importance of collaboration between the public and private sectors to develop infrastructure
Brazil's oil and gas reserves grow in 2023 to 15.9bn barrels
Brazil posted sharply higher oil and gas reserves in 2023, with proven oil reserves up 6.98%, year on year, to 15.894bn barrels, according to the oil and gas regulator the ANP.
Mexico’s CFE, Engie sign $2bn agreement to expand Mayakan gas pipeline in Yucatan
Mexico’s state-owned utility CFE and Energía Mayakan, a subsidiary of the Engie group, have entered into an agreement to expand the Mayakan gas pipeline in Mexico’s Yucatan Peninsula with an investment of $2bn.
Brazil’s Enauta Q1 output surpasses 2.3mn barrels of oil equivalent
Enauta reported robust production figures for the first quarter of 2024, with total production exceeding 2.3mn barrels of oil equivalent.
Petronas to drill additional exploration well offshore Suriname
Petronas Suriname E&P has decided to extend its contract with Noble Corporation for the Noble Voyager drillship to drill an additional well offshore Suriname.
Brazil's Federal audit calls for suspension of Petrobras-Unigel contract
The technical area of Brazil's Federal Audit Court (TCU) has recommended the suspension of the contract between Petrobras and Unigel, citing irregularities that could result in significant losses.
Petrobras leads scientific expeditions in Equatorial Margin
Brazil’s national oil company (NOC) Petrobras, the Geological Survey of Brazil (SGB) as well as several universities have started scientific expeditions in the Equatorial Margin region seeking for crude oil.
Petrobras rejects BW and Ocyan proposals, cancels Albacora FPSO tender
Brazil’s national oil company (NOC) Petrobras has cancelled the tender for chartering a new Floating Production Storage and Offloading (FPSO) vessel for the Albacora field in the Campos Basin.
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