LatAmOil - Latin America Oil & Gas
Guyana's Gas-to-Energy project expected to boost wood production
Guyana’s Ministry of Natural Resources stated that the country’s landmark Gas-to-Energy project to boost the production of wood products.
Petrobras awards Baker Hughes contract for offshore fields in Brazil
US oilfield services company Baker Hughes has won a contract from Brazil's national oil company Petrobras for workover and plug and abandonment services in pre-salt and post-salt fields offshore Brazil.
Petrobras drills new well in the Jubarte field
Venezuela and Nigeria aim to strengthen ties in oil and gas sector
Pedro Rafael Tellechea, Minister of Petroleum and president of PDVSA, led the Venezuelan delegation in a meeting with Nigerian Prince Arthur Eze, who also serves as director of Atlas Oranto Petroleum.
Petrobras to resume operations at ANSA fertilisers plant
Petrobras has approved the resumption of operating activities of its fertilisers plant Araucária Nitrogenados S.A. in the state of Parana, Brazil’s national oil company said.
National oil companies of Trinidad and Tobago, Suriname sign memorandum of understanding
Suriname’s national oil company and Trinidad and Tobago’s National Gas Company signed a Letter of Intent and a Memorandum of Understanding focused on natural gas collaboration.
Guyana oil sector to require 5,828 additional workers by 2028
A report by The Greater Guyana Initiative found that demand for qualified workers in Guyana’s burgeoning oil and gas sector is set to skyrocket.
Guyana emerges as one of lowest-cost oil producers worldwide
In the Upstream Oil and Gas Investment Outlook report by the International Energy Forum and S&P Commodity Insights, Guyana emerged as one of the lowest-cost oil producers with a breakeven price of $36 per barrel of Brent crude.
Vista Energy to import new fracking equipment to boost output at Vaca Muerta
Vista Energy has entered into an agreement with SLB to import new fracking tools to boost output in Argentina's Vaca Muerta shale region.
Optimisation plan for Pemex proposed by Wellingence
Wellingence, a consulting firm, has recommended an optimisation strategy for PEMEX aimed at bolstering its financial health through targeted divestments.
Venezuela oil production sees increase despite sanctions return
Venezuela's oil production reached 910,000 barrels per day in May, marking a 3.6% increase from April, as reported by the Organization of Petroleum Exporting Countries on June 11. PDVSA has sustained growth this year, adding 32,000 bpd.
Petrobras to support Brazil’s development, increase GDP, says new CEO
The new CEO at Brazil’s national oil company Petrobras, Magda Chambriard, has said the company stands ready to support the country’s growth by increasing energy supply, including renewable energy, contributing to development and GDP growth.
Petrobras mulls ventures with China’s Sinosure
Moody's maintains Petrobras' credit rating with stable outlook
Moody's has opted to maintain Brazil’s national oil company Petrobras' credit rating at 'Ba2' with a stable outlook, citing the company's robust credit metrics within its rating category and consistent operational and financial performance.
Petrobras awards Vallourec contract for tubular services for offshore wells
French provider of tubular solutions Vallourec has been awarded a contract by Brazil’s national oil company Petrobras to supply tubes and services for offshore development wells in the Campos pre-salt basin.
Second Citgo auction closes amid significant interest
The second round of bids in the US-based auction of shares in the Venezuelan-owned US refiner Citgo Petroleum ended on Tuesday, with at least one confirmed credit offer received.
Pemex allocates $80mn for Etkal evaluation project
PEMEX Exploration and Production has secured approval from CNH for its evaluation programme targeting the Etkal-201EXP well, linked to the AE-0160-2M-Chalabil assignment.
Brazilian company Fluxus acquires Pluspetrol Bolivia
Fluxus, an oil and gas company owned by businessmen Joesley and Wesley Batista, finalised the acquisition of Pluspetrol Bolivia.
FID for Suriname's inaugural deepwater oil project in late 2024, TotalEnergies’ FPSO order issued
Suriname is closing in on its first offshore oil development, with a final investment decision for Block 58 expected later this year.
Venezuela-owned Citgo parent shares attract strong interest in US court auction ahead of elections
Prospective bidders had until June 11 to submit their proposals in a US court-mandated auction of shares in PDV Holding, the parent company of US refiner Citgo Petroleum. The auction is set to take place in July, just before the Venezuelan elections.
Ecuadorian government gears up for Amistad field tender
Ecuador's Ministry of Energy, under the interim leadership of Roberto Luque, is gearing up to initiate a tender for the blocks surrounding the Amistad field situated in the Gulf of Guayaquil.
Venezuela creditors seek JPMorgan's backing in $7bn Citgo bid
A consortium of creditors of Venezuela is reportedly seeking financial support from JPMorgan Chase & Co. to fund a $7bn bid for the parent company of US refiner Citgo Petroleum Corp.
Mexico Pacific reveals plans to invest a further $15bn in LNG projects in northern Mexico
Mexico Pacific Limited has unveiled bold ambitions to become a bigger player in the global LNG market with the announcement that a $15bn investment will be made in LNG projects in northern Mexico over the next two to three years.
Guyana to conduct 3D seismic survey to support future exploration and bid rounds
Guyana is set to commission a comprehensive survey aimed at gathering critical data to support further offshore oil and gas exploration as well as future bid rounds.
ExxonMobil spends $1.6bn on Guyanese suppliers since 2015
Since making its first landmark oil discovery in 2015, ExxonMobil Guyana has injected over $1.6bn into the local economy, underscoring its commitment to nurturing Guyana's burgeoning oil and gas sector while fostering economic growth.
ExxonMobil Guyana seeks local suppliers for well fabrication and assembly services
ExxonMobil is seeking local Guyanese suppliers to provide fabrication and assembly services tailored to the company’s offshore oil and gas operations.
Wintershall Dea announces start of drilling at Argentina's Fenix gas field
Wintershall Dea announced that it, together with Total Austral and Pan American Energy, have begun the development drilling phase at the Fénix gas field, approximately 60km off the coast of Tierra del Fuego, Argentina.
Brazil Energy Minister commends Guyana for attracting oil sector investments
Brazil’s Minister of Mines and Energy, Alexandre Silveira, has praised Guyana for its success in attracting substantial investments in its oil sector
Venezuela to boost gasoline and gas production through its alliance with Iran
Venezuela plans to boost its gasoline and gas production through alliances with Iran, state-owned Petroleos de Venezuela (PDVSA) indicated on X.
Uruguay’s Ancap reports $48mn losses amid La Teja refinery maintenance
Uruguay's state-owned oil firm, Ancap, revealed a significant setback last week, reporting losses totaling $48mn over the past three months. The losses stemmed from the necessity to import fuel to make up for a refinery closure.
Citgo’s Corpus Christi refinery draws intense interest ahead of court auction
Citgo Petroleum’s smallest refinery in Corpus Christi, Texas, has garnered significant attention ahead of this week’s court auction aimed at resolving over $20bn in Venezuela-related claims, according to sources.
Suriname's inaugural deepwater oil project to be sanctioned in late 2024
Suriname is closing in on its first offshore oil development, with a final investment decision for Block 58 expected later this year.
SBM Offshore tasked with building hull for Suriname FPSO
SBM Offshore has received an order from TotalEnergies to build a hull for an FPSO set for use in the Block 58 development in Suriname.
EPA confirms Guyana can get $2bn guarantee from Stabroek Block consortium for oil spills
Director of the Environmental Protection Agency, Kemraj Parsram, clarified that if an offshore spill occurs in Guyana and the government needs to access the $2bn guarantee from the Stabroek Block consortium, additional funds can be negotiated.
TotalEnergies delivers update on final investment decision for Suriname's Block 58
TotalEnergies announced that a Final Investment Decision is expected in the fourth quarter of this year regarding Suriname’s offshore Block 58, with production slated to start in 2028.
ExxonMobil Guyana announces profit of $2.9bn in 2023
ExxonMobil Guyana reported a profit of GYD 614.6bn for 2023, marking a 6% y/y increase.
Brazil Mining Minister praises Guyana for oil sector investment growth
Brazil’s Minister of Mines and Energy, Alexandre Silveira, praised Guyana's success in attracting substantial investment to its oil sector.
Venezuela's oil exports rebound in May as US sanctions grace period ends
Venezuela’s oil exports surged in May, recovering from a slump the previous month as state oil company PDVSA’s customers hurried to secure cargoes before the end of the grace period on May 31 in the wake of the re-imposition of US sanctions.
Citgo boards and Venezuelan opposition lobby US to halt share auction amid creditor dispute
Venezuelan opposition members and the supervisory boards of US refiner Citgo Petroleum have reportedly engaged with US officials and lawmakers in recent days, aiming to delay a court-ordered auction of shares to satisfy creditors.
OPEC+ extends cuts, to unwind voluntary limits
OPEC+ has extended most of its cuts through 2025, but will begin to unwind voluntary additional restrictions
Shearwater starts 3D survey in Brazil's offshore Pelotas Basin
Shearwater GeoServices has commenced its Pelotas Basin 3D survey offshore Brazil, marking its fifth multi-client 3D acquisition project.
Petrobras pricing policy props its market dominance, hinders private refiners
Brazil’s national oil company (NOC) Petrobras shift in fuel pricing policy, initiated in May 2023, is presenting significant challenges for the country’s refining sector, according to analysts.
Mexico’s new president vows to continue current oil and gas policies, but that may prove impossible
Claudia Sheinbaum will become Mexico’s first female president on October 1 after winning a landslide election on June 2. She campaigned on a promise to continue the path laid out by outgoing President Andrés Manuel López Obrador.
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