LatAmOil - Latin America Oil & Gas
Petrobras sells Cherne and Bagre fields to Perenco, Buzios surpasses 1bn barrels produced
Brazil's national oil company (NOC) Petrobras has reached an agreement to sell its entire stake in the Cherne and Bagre fields, situated in shallow waters in the Campos Basin, to Perenco.
New Fortress Energy signs EPC contract for Brazilian LNG power plant
New Fortress Energy (NFE) has finalised an Engineering, Procurement, and Construction (EPC) contract with a consortium comprising Mitsubishi Power Americas and Andrade Gutierrez for the construction of a 1.6 GW power plant.
Petrobras, CNCEC mull joint projects in oil, gas, and renewables
Petrobras has signed a memorandum of understanding (MoU) with the China National Chemical Energy Company (CNCEC), focusing on various areas, particularly renewable energies and energy transition.
Brazil faces indigenous resistance to Amazon oil drilling plans
Brazil’ national oil company (NOC) Petrobras is encountering escalating opposition from Indigenous communities and government bodies to its flagship exploration project, which aims to open up Brazil's northern coast.
LamAmOil: Biden reimposes oil sanctions on Venezuela
Biden reimposes oil sanctions on Venezuela
The US will re-impose sanctions on Venezuela’s oil and gas sector because President Nicolás Maduro’s socialist regime has “fallen short” on commitments to hold free and fair presidential elections, said the US State Department on April 17.
ExxonMobil's Whiptail Project facilitates shared reservoir extraction in Guyana's Stabroek block
ExxonMobil's newly approved Whiptail project is poised to extract oil from reservoirs overlapping with those of two other ventures within the Stabroek Block – Yellowtail and Uaru.
ExxonMobil Guyana makes final investment decision on Whiptail project
ExxonMobil greenlit its sixth development project in Guyana's Stabroek Block, named Whiptail, which commands an estimated investment of $12.7bn.
Pipe producer Strohm secures major contract with ExxonMobil for Whiptail Project in Guyana
Strohm, a leading provider of thermoplastic composite pipe (TCP) technology, has clinched a significant contract from ExxonMobil for the provision of pipes destined for the Whiptail project, situated offshore Guyana.
ExxonMobil executives earn salary increases as Stabroek Block output boosts profits
ExxonMobil's profits from its operations in Guyana's Stabroek Block have translated into hefty salary increases for its top executives, Kaieteur News reported, with chairman and CEO Darren Woods set to earn an additional $94,000 annually.
Guyana President urges swifter payment for oil contractors
Guyana's President, Mohamed Irfaan Ali, has voiced concerns over the 45-day payment period for oil companies to settle invoices with contractors, deeming it excessively lengthy.
UN Security Council to review Venezuela's territorial claim over Guyana's Essequibo region
Guyana has requested that the UN Security Council reassess Venezuela's territorial claims over the oil-rich Essequibo region, which has been under Guyana's jurisdiction since 1899. Caracas, however, annexed the region to its official maps in 2023.
Miko Marine to supply sea inlet coversfor Guyana's Errea Wittu FPSO
Miko Marine, a Norwegian company specialising in marine solutions, clinched a contract to supply sea inlet covers for Guyana's Errea Wittu FPSO.
LNG reigns supreme in low-carbon bunkering
ExxonMobil executives earn salary increases as Stabroek Block output boosts profits
ExxonMobil's profits from its operations in Guyana's Stabroek Block have translated into hefty salary increases for its top executives, Kaieteur News reported, with Chairman and CEO Darren Woods set to earn an additional $94,000 annually.
US likely to reimpose sanctions on Venezuela over election concerns
The United States will likely not renew a temporary licence that has provided significant relief from sanctions on Venezuela's oil and gas exports, unless President Nicolas Maduro makes notable strides towards free and fair elections this year.
Venezuela detains top energy officials amid probe into lost oil revenue
Venezuelan authorities apprehended two senior energy officials on April 14, following the recent arrest of a former oil minister, as part of an inquiry into substantial revenue losses at the national oil company PDVSA.
US Treasury extends Citgo creditor protection amid Venezuela debt talks
The US Treasury Department has granted an extension until mid-August for a licence safeguarding Venezuela-owned oil refiner Citgo Petroleum from creditors aiming to enforce judgments related to past expropriations and debt defaults.
Mexico Pacific announces Sarah Bairstow as new CEO
LNG developer Mexico Pacific has announced the appointment of Sarah Bairstow as the company’s new CEO.
Chevron-Hess merger may be postponed due to arbitration over Guyana Stabroek block stake
Hess Corporation reported in a filing to the US Securities and Exchange Commission (SEC) that its acquisition by Chevron Corporation may be delayed until 2025.
S&P projects Guyana's oil exports to triple in revenue by 2030
S&P Global Commodity Insights stated in a report that it expects Guyana’s annual oil exports to triple in value from $11bn in 2023 to $33bn in 2030.
What next for oil markets after Iranian strike on Israel?
For the time being, traders have apparently shrugged off fears of a direct war between Israel and Iran, but escalation is still a significant risk.
Saipem authorised for Whiptail oilfield project in Guyana's Stabroek Block
Italian oilfield services company Saipem has received authorisation from ExxonMobil Guyana to proceed with its scope of work for the Whiptail oilfield development project in the Stabroek Block.
ExxonMobil advances drilling operations at the Uaru well site in the Stabroek Block
ExxonMobil Guyana is progressing with drilling operations at the Uaru well site within Guyana’s Exclusive Economic Zone, as confirmed by Guyana’s Maritime Administration Department on April 6, 2024.
Mexico’s regulator levies $32.1mn fine on Chevron for contract violation
Chevron Energía de México is facing a hefty penalty of $32.107mn imposed by the energy regulator the Comisión Nacional de Hidrocarburos (CNH) for its failure to meet the minimum work programme requirements in a deepwater contract.
ExxonMobil Guyana makes final investment decision on Whiptail Project
ExxonMobil greenlit its sixth development project in Guyana's Stabroek Block, named Whiptail, which commands an estimated investment of $12.7bn.
Petrobras’ leadership woes intensify as Prates faces suspension
Brazil’s national oil company (NOC) Petrobras finds itself embroiled in further turmoil as its government-appointed chairman, Jean Paul Prates, faces suspension over alleged conflicts of interest.
Petrobras finds oil near mouth of Amazon River, environmental concerns remain
Brazil’s national oil company (NOC) Petrobras has announced a significant oil discovery in the ultra-deep waters of the Potiguar Basin, with the Anhangá exploratory well yielding promising results.
Cartagena summit spotlights natural gas in Colombia's energy transition
The Colombian city of Cartagena witnessed the gathering of industry leaders, national and international experts, and government officials during the Arpel-Naturgás Week 2024 to deliberate on the future trajectory of natural gas in the energy mix.
Venezuela’s PDVSA commits to diversifying trade amid looming US sanctions deadline
State-owned oil company Petróleos de Venezuela is steadfast in its efforts to fortify trade models independent of international sanctions pressure, the company announced on April 11, just a week before the expiration of the sanctions relief.
Norway turns down Costa Rica's request for support on oil exploration studies
Costa Rica's Ministry of Environment and Energy revealed that Norway has declined the government's appeal for assistance in conducting studies on oil and natural gas exploration and exploitation.
Colombia explores oil and gas deal with Venezuela, President Petro reveals
Colombian President Gustavo Petro disclosed ongoing negotiations to embark on oil and natural gas production in Venezuela, following his recent visit to Caracas. Additionally, Colombia aims to export clean energy to its neighbouring nation.
Peru’s PetroTal reports strong Q1 2024 performance, production rises significantly
PetroTal, a key player in the Peruvian oil and gas sector, has unveiled its first-quarter 2024 operational, financial, and corporate updates, showcasing robust performance and strategic advancements.
Peru's oil regulator evaluates offers for Lot X operation in Talara Basin
Peru's hydrocarbons overseer, Perupetro, has garnered interest from two contenders in the race to secure operational control over Lot X, a substantial onshore asset situated in the Talara basin of Peru's north-western region.
GeoPark looks to acquire interests in Argentina's Vaca Muerta
New York-listed oil and gas exploration company GeoPark is looking to a non-operated working interest in unconventional blocks located in Argentina's Neuquen basin, part of the Vaca Muerta shale formation.
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