LatAmOil - Latin America Oil & Gas
Guyana says talks with Venezuela over oil-rich Essequibo should resume
Guyana’s president, Irfaan Ali, has called for new diplomatic talks with Venezuela over the disputed oil-rich Essequibo territory after Venezuela’s presidential elections on July 28.
Trinidad and Tobago searching for operator for Guaracara refinery
Trinidad and Tobago is hunting for an operator for its dormant state-owned Guaracara oil refinery, with Prime Minister Keith Rowley announcing that a decision on several offers is expected by the end of August.
Brazil’s economists grow concerned about Lula’s influence in state-owned firms
Under the influence of President Luiz Inácio Lula da Silva, state-owned companies in Brazil, led by the national oil company Petrobras, are beginning to show worrying signs in management and governance.
Petrobras awards two long-term vessel contracts to Norway’s DOF
Norwegian offshore vessel operator DOF Group has won two significant long-term contracts with Brazil’s national oil company Petrobras for its pipelay support vessel and anchor handling tug supply vessel.
Petrobras brings forward start-up of new FPSO to Q4, initially expected in 2025
Brazil’s national oil company Petrobras has expedited the timeline for the commencement of operations of its new floating production, storage, and offloading vessel Maria Quitéria.
Exxon-Hess arbitration panel not yet complete
The arbitration panel that is to hear ExxonMobil’s objection to rival Chevron buying Hess’ Guyana assets remains incomplete, according to a report.
Stabroek Block cost recovery projected to hit $31 billion in 2024
Cost recovery for the Stabroek Block petroleum operations is expected to hit $31bn by the end of 2024, highlighting the substantial investments made under the Stabroek Block Production Sharing Agreement.
Death threats target Ecopetrol president amidst paramilitary funding allegations
The president of Colombia's state oil company Ecopetrol, Ricardo Roa, has been threatened with death following accusations against the company for allegedly funding paramilitary groups.
PetroRio in talks with Petrobras to acquire offshore fields
Brazilian independent oil company PetroRio SA is in bilateral talks with the national oil company (NOC) Petrobras to acquire the Albacora and Albacora Leste offshore oil fields, both companies confirmed.
Bolivia: YPFB acknowledges floating debts for fuel supplies
Armin Dorgathen, president of Bolivia's state-owned oil company Yacimientos Petrolíferos Fiscales Bolivianos, has acknowledged the existence of floating debts with fuel suppliers, although he assures that payments are being made accordingly
Guyana President claims Gas-to-Energy loan proposal remains unaffected by recent US sanctions
Guyana’s President Irfaan Ali claimed that Guyana’s landmark Gas-to-Energy project will remain unaffected by recent US sanctions against Permanent Secretary Mae Thomas and members of the Mohamed family, prominent local business leaders.
Petroperú to implement significant staff reductions and restructuring measures
Petroperu: reduction of the workforce by one-third and implementation of other significant organisational changes.
Mexico's new Olmeca Refinery faces significant delays
The Olmeca refinery, inaugurated by President Andres Manuel Lopez Obrador in July 2022, is unlikely to produce commercially viable motor fuels before the end of the year, according to five sources.
Guyana selects Fulcrum LNG as for major gas project alongside ExxonMobil
Guyana has selected Fulcrum LNG as a partner alongside ExxonMobil for a landmark gas development project.
Nestoil CEO urges Guyana to ensure strict enforcement of local content law
Dr Ernest Azudialu-Obiejesi, Chairman and CEO of Nestoil Group, stressed the critical need for Guyana to enforce its local content laws within the oil and gas sector.
Petroecuador invokes force majeure on Napo heavy crude exports amid severe weather disruptions
Ecuador's state oil firm, Petroecuador, has invoked force majeure on Napo heavy crude oil exports due to severe weather conditions that disrupted operations across the country.
Falkland Islands government initiates public consultation on Sea Lion Field development impact
The Falkland Islands Government has scheduled a public consultation from June 24 to August 5, to review the Environmental Impact Statement for the Sea Lion Field Northern Development Area, Phase 1 and 2.
Trans Mountain reshuffling oil flows to North America from Iraq, Brazil
US West Coast refiners are replacing their heavy oil imports from Iraq with cheaper crude from Canada because of the expanded Trans Mountain pipeline from Alberta’s oilsands to the Pacific Ocean in British Columbia.
Expansion of gas infrastructure in Peru: progress since 2014 and future projections
Since 2014, Peru has made significant strides in expanding its gas infrastructure. The Ministry of Energy and Mines (Minem) has recently announced the development of a National Pipeline Plan.
Pemex has a surge in light crude oil production
Pemex has a surge in light crude oil production, driven by the addition of new fields specialising in this premium hydrocarbon type.
Costa Rica becomes first country to produce hydrocarbon-free vehicle oils
Costa Rica has become the first nation to produce vehicle oils without hydrocarbon exploitation, thanks to oil change specialist METALUB.
Guyana to invest $66mn in state power company to curb fuel prices
In response to the escalating global fuel prices, the Guyanese government is set to introduce a supplementary budget of $66mn to the National Assembly to inject into national power company Guyana Power and Light.
Pemex boosts light crude output with new fields
In recent developments, Pemex has significantly increased its production of light crude oil, a move driven by the exploitation of new fields known for producing higher-quality hydrocarbons.
Bolivia: Lukoil sends 366,000 barrels of diesel to YPFB
Lukoil, a Russian oil company, has dispatched 366,000 barrels of diesel, equating to 50,000 tonnes, to Yacimientos Petrolíferos Fiscales Bolivianos to support Bolivia's fuel supply.
Petrobras begins drilling Uchuva-2 Well offshore Colombia
Petrobras has commenced the drilling of the Uchuva-2 well in Colombia's Caribbean coastal Tayrona block
Guyana selects Fulcrum LNG to build Exxon-led project
US energy infrastructure firm Fulcrum LNG has been chosen by the government of Guyana to work with ExxonMobil and help design, develop and build a natural gas processing plant.
Fossil fuel use reaches global high
A new report finds that fossil fuel energy use rose to a record high in 2023, despite efforts to combat climate change.
Global gas flaring at highest level in five years
In 2023, the volume of gas flared globally rose by 9bn cubic metres to 148 bcm, the highest level since 2019, according to a new World Bank report. This is despite efforts to curtail the practice because of climate change.
Trident awards Trendsetter Engineering contract for subsea manifolds in Brazil
US-based Trendsetter Engineering has secured a new project for two offshore oil fields in Brazil, following its market entry with new facilities in Macaé.
G&A Investments pursues $1.5bn claim against PDV Holding in Texas court amid Citgo auction
G&A Strategic Investments, a creditor of Venezuela, has initiated legal action in Texas to reclaim $1.5bn from defaulted promissory notes issued by PDVSA, Venezuela's state oil company, targeting US-based Citgo parent PDV Holding.
BP to acquire Bunge's stake in Brazilian biofuels joint venture
Bp has agreed to purchase Bunge’s 50% stake in their joint venture, bp Bunge Bioenergia, one of Brazil’s leading biofuels producers.
Petrobras mulls offshore wind pilot project near Rio de Janeiro
Brazil’s national oil company Petrobras has signed a protocol of intentions with the Rio de Janeiro state government to jointly conduct feasibility studies for an offshore wind pilot project.
Petrobras agrees to pay BRL19.8bn in back taxes, propping up federal budget
Brazil's national oil company Petrobras has reached an agreement to settle BRL19.8bn in back taxes with the federal government.
Oil and gas majors make progress on OD OBN geophysical monitoring systems project
The On Demand Ocean Bottom Node project in Brazil, which aims to usher in a new era of geophysical monitoring systems for the offshore oil and gas sector, has advanced into its second phase.
Brazil’s rig provider Foresea achieves record operational uptime, announces first dividend payment
Rig provider Foresea has its entire fleet contracted, having achieved an operational uptime of 98.2% in 2023, the highest in the Brazilian market.
Enauta suspends production at Brazil’s Atlanta field for final phase of new FPSO anchoring
Brazilian oil and gas company Enauta has temporarily halted production from the Petrojarl I floating production storage and offloading unit to carry out necessary equipment maintenance and modifications after inspections at the Atlanta field.
Brazil's environmental agency could decide soon on Petrobras’ Equatorial Margin exploration
The head of Brazil's environmental agency Ibama, Rodrigo Agostinho, said a decision about national oil company Petrobras request for exploratory studies in the Equatorial Margin could come soon.
US firms plan major energy investments in Ecuador amid regulatory challenges
Two US-based private firms linked to Arkose Energy Corp. are eyeing investments in Ecuador, targeting energy projects for cigarette lighter gas and photovoltaic sources.
Surinamese CEO calls on local companies to meet international business standards
CEO of Haukes Construction Company Suraya Jiawan-Nanan called on local businesses in Suriname to elevate their practices to meet international requirements.
Guyana's PSC calls for resolution of late oil and gas company payments
The Private Sector Commission of Guyana voiced concerns about payment delays from oil and gas companies, calling for essential reforms to ensure timely transactions.
Arrow exploration achieves milestone with first Ubaque horizontal well in Colombia
Arrow Exploration has provided a comprehensive update on its operational activities, focusing on the Carrizales Norte field within the Tapir Block in the Llanos Basin.
Follow us online