LatAmOil - Latin America Oil & Gas
Venezuela inks 20-year gas deal with BP and Trinidad amid push for energy exports
Venezuela has signed a 20-year agreement with BP Plc and Trinidad and Tobago's National Gas Company for natural gas production and exploration, Venezuelan Oil Minister Pedro Tellechea announced on July 24.
Equinor awards Valaris $498mn drillship contract for Brazil Operations
Equinor Energy do Brasil, a subsidiary of Norway’s Equinor, has granted a contract to Valaris for its VALARIS DS-17 drillship for work offshore Brazil on the Raia project worth $498mn.
Trinidad and Tobago LNG plant exports 4,800th cargo
Trinidad and Tobago's Atlantic LNG export plant is set to mark a notable milestone with the shipment of its 4800th liquefied natural gas cargo since its inception in 1999.
Ecopetrol considering $3.6bn investment in US shale
Colombian energy company Ecopetrol is in talks with Occidental Petroleum to purchase a significant stake in CrownRock, a US shale oil producer.
YPFB commits $400mn to new natural gas development in Bolivia
Bolivian state-owned oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) is set to invest $400mn in developing a newly discovered natural gas field.
Guyana poised to significantly outpace oil revenue estimates due to output spike
S&P Global has projected that Guyana is set to produce 632,000 barrels per day of oil in 2024, thereby positioning the South American nation to rake in a significantly higher oil revenue than previously expected.
Venezuelan election looms as energy firms rush to secure deals with PDVSA
As Venezuela approaches its pivotal July 28 presidential election, international energy companies are scrambling to finalise agreements with state oil company PDVSA, seeking to safeguard their operations regardless of the electoral outcome.
Frontera and GASCO to develop major LPG facility in Cartagena
Frontera Energy's subsidiary, Sociedad Portuaria Puerto Bahía, has partnered with Gasco Soluciones Logísticas y Energéticas to develop a liquefied petroleum gas project at Puerto Bahía's port terminal in Cartagena, Colombia.
Wintershall Dea’s new exploration well approved for Kan-2DEL
Wintershall Dea México has been granted permission by the National Hydrocarbons Commission (CNH) to drill the Kan-2DEL exploration well in Tabasco’s shallow waters.
Ecuador secures $90mn investment for oil block development until 2035
Ecuador's Ministry of Energy has finalised a new agreement with ENAP Sipec, a Chilean company, for the development of Mauro Dávalos Cordero (MDC) Block 46, located in the Orellana province.
Halliburton, SLB report strong global demand, softer North American results
US oilfield service firms Halliburton and SLB, formerly Schlumberger, reported higher quarterly profits in the second quarter that analysts said were aided by stronger worldwide demand.
Colombia’s Ecopetrol may buy $3.6 bn CrownRock Permian stake from Occidental
Occidental Petroleum is in talks to sell a 30% stake in shale producer CrownRock to Colombia’s state-owned Ecopetrol.
Exploration drilling at ExxonMobil's Lau-Lau-2 in Guyana underway
The Noble Don Taylor is continuing its exploration drilling at ExxonMobil’s Lau-Lau-2 well site within Guyana’s Stabroek Block.
ExxonMobil-led Stabroek Block consortium better equipped to handle oil spills
At the close of 2023, the combined equity of ExxonMobil, Hess, and CNOOC in Guyana surged to $18.6bn, enhancing the group’s capability to manage potential challenges, including unmitigated oil spills offshore Guyana.
Guyana's Hammerhead project set to create 1,380 jobs
ExxonMobil's proposed Hammerhead development in Guyana is projected to create up to 1,380 jobs across four distinct stages of the project, according to preliminary estimates by the oil major.
Will Venezuela’s Maduro go out with a bang or a whimper?
Venezuela’s crucial election on July 28 pits incumbent Nicolas Maduro against opposition leader Edmundo Gonzalez. With long-running economic turmoil and political repression under Chavismo, the nation faces a pivotal decision.
Landmark achievement at Mexico's fast LNG project
New Fortress Energy (NFE), a US energy infrastructure firm, has commenced LNG production at its innovative floating LNG (FLNG) facility near Altamira, Mexico.
ExxonMobil and Chevron face off in pursuit of Hess's Guyana stake
Exxon Mobil’s challenge to Chevron’s $53bn acquisition of Hess hinges on whether the deal triggers a change of control over Hess' valuable operations in Guyana.
New Fortress Energy announces first LNG production offshore Mexico
US LNG producer New Fortress Energy achieved successful first production of LNG at its Fast LNG asset offshore Altamira, northeastern Mexico.
Petrobras awards Norway’s DOF Group several contracts
Norwegian offshore supply vessel company DOF Group has won several contracts with Brazil’s national oil company Petrobras for work offshore Brazil.
Gasmig sets 1,000-km pipeline ambition
Brazil's state-run gas company, Gasmig, plans to invest BRL5.8bn ($1.04bn) by 2033, the largest in its history, to build over 1,000 kilometres of distribution lines in Minas Gerais.
Petrobras sets diesel production record at Brazil refinery
Brazil’s national oil company Petrobras has reported a new production record for S-10 diesel at its Presidente Bernardes Refinery (RPBC) in Cubatão.
UK-based company AIS wins multiple contracts for deepwater oil field project off Brazil
UK-headquartered AIS has secured multiple contracts to supply subsea ancillary solutions for a deepwater oil field development in the Santos Basin, off Brazil's coast.
Brazilian regulator approves support vessels for FPSO installation
Brazil's environmental agency Ibama has approved the use of three support vessels for the installation of the floating, production, storage and offloading (FPSO) Almirante Tamandare operated by the national oil company (NOC) Petrobras.
Milei and Río Negro oil union back LNG plant on Argentina’s Atlantic coast
The Oil and Gas Union of Río Negro, Neuquén and La Pampa has endorsed the proposed natural gas liquefaction plant on Río Negro's Atlantic coast.
Argentina’s Neuquén sets oil production record; gas output declines slightly
Argentina’s Neuquén province set a new record in oil production in June, reaching 400,931 barrels per day, up 1.76% from May and 24.86% from June 2023.
Unigel demands Petrobras settles fertiliser losses
Brazilian chemical firm Unigel is seeking compensation from state-owned Petrobras for losses on two leased fertiliser plants.
Lake Maracaibo: from oil hub to crisis symbol in Venezuela
Lake Maracaibo, once a symbol of Venezuela’s oil boom, the largest lake in South America now epitomises the country’s deepening crisis.
Venezuelan oil bonds gain investor interest ahead of election
As Venezuela approaches its presidential election, a new trend is emerging in the market for the nation’s defaulted bonds: investing in the debt of state oil company Petroleos de Venezuela SA.
FPSO Bacalhau achieves world’s first newbuild emissions abatement notation from DNV
MODEC's FPSO Bacalhau has received Approval in Principle (AiP) for Abate Notation from the classification society DNV, marking a significant milestone in its deployment at an Equinor-operated oil project offshore Brazil
QatarEnergy acquires interest in production sharing contract for Suriname's Block 5
QatarEnergy has announced the acquisition of a 20% stake in a production-sharing contract for Suriname’s offshore Block 5.
Trinidad court recognises ConocoPhillips' arbitration claim against Venezuela
Trinidad and Tobago's High Court reaffirmed a decision recognising US oil producer ConocoPhillips' arbitration claim against Venezuela, potentially freezing the Caribbean country's payments to its neighbour for joint natural gas projects.
Petrobras seeks refinery buyback in Lula’s renationalisation
Petrobras is negotiating to regain full or partial control of the Mataripe refinery in Bahia, which was sold to Acelen.
Africa draws attention of global oil and gas explorers, says Rystad Energy
In oil and gas exploration, Guyana and Namibia currently dominate the scene owing to recent discoveries within the Guyana Basin and Namibia’s sector of the Orange Basin.
Venezuelan oil venture Petroindependencia wins 15-year extension
Venezuelan oil joint venture Petroindependencia, with a 34% stake held by Chevron, has received a 15-year extension, allowing operations to continue until 2050.
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