LatAmOil - Latin America Oil & Gas
YPF selects Río Negro for historic LNG project
Argentine national oil company YPF has selected Río Negro as the destination for a liquefied natural gas (LNG) plant, Perfil reported.
Hess beat quarterly profit estimates on the back of Guyana oil output surge
Hess Corporation surpassed second-quarter profit estimates, with its revenue driven by a significant increase in oil production in Guyana and stronger crude prices, Reuters reported.
ExxonMobil Guyana seeks seafloor seismic services for Stabroek Block exploration
ExxonMobil is actively seeking seafloor seismic services to bolster its exploration efforts at the Stabroek Block offshore Guyana, submitting a public request for information.
Pipelaying for Guyana's gas-to-energy project finished ahead of schedule
Subsea7 announced the early completion of the offshore pipelay for Guyana's Gas-to-Energy project, finishing 10 days ahead of schedule.
LatAmOil: US oil policy on Venezuela to remain steady despite disputed election, official says
US oil policy on Venezuela to remain steady despite disputed election, official says
The Biden administration will not change its current oil sanctions policy on Venezuela, despite growing controversy surrounding the recent presidential election, a US official told reporters.
Guyana daily oil output to soar with ExxonMobil's Uaru and Whiptail projects
ExxonMobil's Uaru and Whiptail projects in the Stabroek Block offshore Guyana are set to achieve initial production ranges of 220,000 to 275,000 barrels per day, the US oil major confirmed.
Vaca Muerta production boom leads to Argentinian $2.76bn energy surplus
Argentina recorded an energy trade surplus of $2.758bn in the first half of the year, thanks to a surge in Vaca Muerta production and exports and a substantial reduction in imports.
Petrobras targets $100mn in annual savings through rig automation
Brazil’s national oil company Petrobras has unveiled plans to partially automate its drilling rig fleet by 2030, expecting to save up to $100mn annually as the company aims to reduce offshore well drilling time.
Possible refinery worker strike in Argentina, Brazil’s striking environmental workers propose deal
The Argentine Federation of Oil, Gas, and Biofuels Trade Unions has announced the potential for a nationwide strike in response to the reinstatement of income tax by the government.
Brazil’s crude players Enauta and 3R Petroleum complete merger
Brazilian oil and gas firms Enauta and 3R Petroleum have fulfilled all conditions for their merger, set to finalise on 31 July.
Borr Drilling secures $330mn-plus three jack-up rig contracts in three continents
Offshore drilling firm Borr Drilling has obtained contracts for three of its premium jack-up drilling rigs, set to operate in Brazil, Malaysia, and Gabon,
TotalEnergies awards Strohm major pipe supply deal for Brazil Operations
Strohm has secured a contract from TotalEnergies to supply thermoplastic composite pipeline (TCP) flowlines for an offshore field in the Santos Basin,
Pemex reports significant loss in 2Q24, announces investments
PEMEX announced a net loss of MXN 255.9bn for the second quarter of 2024, a sharp contrast to the net profit of MXN 25.4bn reported in the same period last year.
Bolivia anticipates diesel deliveries amid ongoing supply challenges
Amid a significant fuel shortage, Bolivia's state oil company YPFB has announced plans to import at least 50,000 cubic metres of diesel from Brazil and Paraguay within August first week.
Brazil’s Enauta restarts output from Atlanta field after planned maintenance
Brazilian crude oil firm Enauta has resumed production from its floating production, storage and offloading (FPSO) vessel at its Atlanta field off Brazil after planned maintenance,
Guyana's daily oil output set to hit new heights with ExxonMobil's Uaru and Whiptail projects
ExxonMobil's Uaru and Whiptail projects in the Stabroek Block offshore Guyana are set to achieve initial production ranges of 220,000 to 275,000 barrels per day, the US oil major confirmed.
Guyanese government's approval of seventh oil project not guaranteed
Guyana’s Vice President Dr Bharrat Jagdeo said that the government has not guaranteed approval for ExxonMobil's proposed seventh oil project, Hammerhead.
Mexico's Koban Field investment boost of $268mn announced
Pemex Exploration and Production (PEP) has announced a significant increase in its investment at the Koban Field, raising the total commitment by $268.28mn.
Argentine oil consortium formed to develop Neuquén fields that YPF plans to divest
An oil consortium has been established to develop mature fields in Neuquén that YPF plans to divest.
Sener and Cenagas approve MXN3bn gas pipeline project
A significant investment of nearly MXN3bn ($168mn) has been approved by Sener and Cenagas for the construction of the Libramiento Reynosa gas pipeline in Tamaulipas.
Afreximbank funding to bolster Guyanese oil industry
Afreximbank is poised to offer tailored financing solutions to bolster Guyanese enterprises as the nation's oil industry rapidly expands.
Venezuela fuel shortages emerge as PDVSA suspends work amid election protests
Gasoline shortages are being reported in Caracas and other major Venezuelan cities as protests over the contested July 28 presidential election disrupt fuel distribution, sources said. Meanwhile, state-run PDVSA shut its offices until August 1.
Pemex allocates $201mn for the development of Platao Field
PEMEX is embarking on an ambitious project to develop the Platao field with an investment estimated at $201.03mn.
Sheinbaum's plan for PEMEX and CFE: Transition to public enterprises
Claudia Sheinbaum has announced plans to incorporate PEMEX and CFE into a new government ministry, continuing the energy reform efforts of López Obrador and MORENA.
OPEC congratulates Venezuela’s Maduro on re-election
The Organisation of the Petroleum Exporting Countries (OPEC) has extended its congratulations to Venezuelan President Nicolás Maduro following his disputed reelection, according to official communications released on July 30.
TotalEnergies on track to meet $9bn budget for maiden Suriname project
TotalEnergies chief financial officer Jean-Pierre Sbraire assured shareholders that the company is on track to meet the $9bn budget set for Suriname’s first offshore development, despite global inflationary pressures.
Argentine gas giant Gas del Sur issues $490mn bond
Argentine gas transporter Gas del Sur (TGS) has issued an international bond valued at $490mn, Vaca Muerta News reported. The bond, carrying a financial cost of 8.75% and a coupon rate of 8.5%, is set to mature in 2031.
Guyana sets location for second gas project
Guyana’s Vice President Dr. Bharrat Jagdeo announced that the nation’s second gas project, part of the national gas monetisation strategy, is expected to be located in Berbice.
Venezuela awards oil contracts to Chinese firms as Maduro seeks investment amid sanctions
Venezuela's state-owned PDVSA has awarded oil production contracts to two Chinese companies, Anhui Erhuan Petroleum Group and Kerui Petroleum, sources close to the negotiations revealed on July 25.
Venezuela's oil recovery at risk as Maduro claims disputed election win
Venezuela's oil production recovery faces setbacks as President Nicolas Maduro claims a narrow victory in a disputed election, analysts say.
US oil policy on Venezuela to remain steady despite disputed election, official says
The Biden administration will not change its current oil sanctions policy on Venezuela, despite growing controversy surrounding the recent presidential election, a US official told reporters.
ExxonMobil's Prosperity vessel in Guyana sets new industry production standard
ExxonMobil’s rapid ramp-up of its third floating, production, storage, and offloading vessel offshore Guyana has set a new industry standard, Wood Mackenzie’s Upstream Research Principal Analyst, Luiz Hayum confirmed.
MODEC begins recruitment for Guyana's Errea Wittu project
MODEC Guyana Inc. has released a Request for Information seeking skilled personnel to carry out the Topside Valves Signature on the Errea Wittu floating production storage and offloading vessel.
Guyana hesitant to extend CGX Energy's exploration license for Corentyne Block
Guyana’s Vice President Bharrat Jagdeo announced that the government is disinclined to extend CGX Energy’s exploration license for the Corentyne Block.
Argentina's Mendoza province receives $33mn in hydrocarbon investment offers
Argentina’s Mendoza government received offers totalling $33mn for five hydrocarbon areas. The bidding process included proposals from three companies for the last five areas out of the 12 that were tendered.
Petrobras reveals 2025 bonds redemption price
Brazil's national oil company Petrobras has announced that its subsidiary, Petrobras Global Finance B.V., will redeem its 4.750% Global Notes due 2025.
Helmerich & Payne to acquire KCA Deutag
Helmerich & Payne (H&P) is to acquire UK-based KCA Deutag International for $1.97bn in cash
Vaca Muerta production boom leads to $2.76bn energy surplus
Argentina recorded an energy trade surplus of $2.758bn in the first half of the year, thanks to a surge in Vaca Muerta production and exports and a substantial reduction in imports.
India's Reliance Industries gets US licence to continue buying crude oil from venezuela
India's Reliance Industries, the largest private oil refinery operator in the country, has secured a licence from the United States to continue importing crude oil from Venezuela
Petrobras nears completion of due diligence for refinery buyback from Mubadala
Brazil’s national oil company Petrobras is finalising its due diligence for a potential bid to repurchase the Mataripe refinery, which it sold to Mubadala for $1.65bn in 2021.
SBM Offshore holds naming ceremony for FPSO set for Brazilian deployment
Dutch FPSO leasing specialist SBM Offshore has held a naming ceremony for the FPSO Almirante Tamandaré to be deployed at the Búzios field in the Santos Basin for Brazil’s national oil company Petrobras.
GA Drilling, Petrobras to develop advanced downhole drilling systems
Slovakia-based GA Drilling has initiated a technical cooperation programme with Brazil’s national oil company Petrobras to develop a more efficient deep drilling system.
Equinor awards Archer $40mn drilling services contract
Oilfield services firm Archer has obtained a two-year contract for platform drilling services from Equinor in Brazil valued at $40mn.
Petrobras awards Ocyan $13mn contract for Buzios Field services
Ocyan, owned by EIG, has signed a substantial contract worth approximately BRL750m with Brazil’s national oil company Petrobras.
TSC Subsea wins contract for subsea inspections offshore Brazil
TSC Subsea has secured a multi-year contract for subsea inspection services with a major operator in the pre-salt region offshore Brazil.
Petrobras targets $100mn in annual savings through rig automation
Brazil’s national oil company Petrobras has unveiled plans to partially automate its drilling rig fleet by 2030, expecting to save up to $100mn annually as the company aims to reduce offshore well drilling time.
First pipe for Guyana's Uaru development arrives at base
ExxonMobil's fifth project in Guyana, Uaru, is advancing notably with the recent arrival of the first pipe at the Vreed-en-Hoop Shore Base.
Brazil environmental workers offer a deal for oil permits
Brazil's federal environment workers have proposed a deal to end their strike, which has impacted Amazon protection and delayed oil and gas permits.
Deals heat up before Venezuelan election amid domestic industry challenges
Venezuela has granted a 20-year licence to BP and Trinidad and Tobago's state-owned National Gas Company to develop offshore gas, while Reliance Industries has received US approval to start oil imports from Venezuela
RIGI: Argentina’s high-stakes bet on LNG investment
Argentina's Large Investment Incentive Regime (RIGI) has emerged as a bold, if controversial, strategy aimed at securing substantial foreign investment in its energy and mining sectors.
Indalo Group targets Argentina’s YPF assets as Pilgrim Energy prepares for oil sector reentry
Businessmen Cristóbal López and Fabián de Sousa, owners of Indalo Group, are looking to re-enter the oil sector by pursuing conventional assets from YPF’s "Project Andes."
Venezuela's Maduro quietly courts US investors ahead of pivotal election
As Venezuela approaches a watershed presidential election, incumbent Nicolás Maduro is making an unexpected pivot: courting American investors with promises of stability and lucrative opportunities in the country's once-mighty oil sector.
Venezuela grants BP, Trinidad's NGC 20-year offshore gas licence
Venezuela has granted a 20-year licence to British energy giant BP and Trinidad and Tobago's state-owned National Gas Co. to develop the Venezuelan portion of the Cocuina-Manakin offshore gas field.
Will Venezuela’s Maduro go out with a bang or a whimper?
The hour of truth is approaching for Venezuela. On July 28, over 20mn eligible voters will cast their ballots to pick their future president from among a list of ten candidates.
Petrobras order flexible pipe from TechnipFMC for Brazil fields
Oilfield services firm TechnipFMC has received a contract from Brazil’s national oil company Petrobras to supply flexible pipe for the pre-salt fields offshore Brazil.
Follow us online