LatAmOil - Latin America Oil & Gas
ExxonMobil posts strong second-quarter earnings driven by Guyana assets
ExxonMobil announced its second-quarter 2024 earnings, reporting $9.24bn for the quarter and $17.5bn for the year to date.
Argentina's Vaca Muerta to double LNG output through new plant
Argentine Minister of Energy and Natural Resources, Gustavo Medele, welcomed the announcement by national oil company YPF and Malaysia’s Petronas to build an LNG plant in Punta Colorada, Río Negro.
Petrobras awards SLB OneSubsea contract for Santos Basin fields
Brazil’s national oil company Petrobras has awarded SLB's OneSubsea a major contract for subsea production systems in the Santos Basin.
Brazil’s oil and gas production rises in June
Brazil's oil and natural gas production increased in June 2024, according to the National Petroleum Agency's (ANP) Monthly Bulletin, with total production at 4.353mn barrels of oil equivalent per day (boed).
Petrobras reports 2.4% production increase in Q2
Brazil’s national oil company (NOC) Petrobras recorded an average production of 2.7mn barrels of oil equivalent per day (boed) in the second quarter of 2024, a 2.4% increase year on year.
Fitch boosts 3R Petroleum to ‘BB-’, ends positive watch
Fitch Ratings has upgraded 3R Petroleum’s credit rating from “B+” to “BB-” and its national rating from “A(bra)” to “AA-(bra)”.
Chevron to move to Texas, earnings miss projections, Guyana arbitration delayed
US oil supermajor Chevron will move its head office from California to Texas after repeated warnings that California regulations are too tough for its business to thrive.
Subsea7 targets TotalEnergies project offshore Suriname
Subsea7 is closely monitoring Suriname’s oil industry, aiming to secure a subsea contract to support TotalEnergies’ Block 58 oil project offshore Suriname.
Colombia’s Ecopetrol will not buy $3.6bn Permian shale stake
Colombia's state oil company Ecopetrol will not buy a $3.6bn share in Permian Basin assets from Occidental Petoleum.
CVR Energy and creditor group lead in $21bn Citgo auction
The hotly contested auction for Citgo Petroleum, Venezuela's prized US refining asset, has entered its final stages with two leading bids ranging between $8bn and $9bn, according to people familiar with the matter.
Maduro threatens to divert oil deals to BRICS amid US pressure over disputed vote
Venezuelan President Nicolás Maduro has warned the United States and its allies that he may transfer oil and gas blocks to BRICS countries, citing increased pressure from Washington over the recent election which many view as marred by fraud.
Major gas discovery confirmed by Petrobras off Colombian coast
Petrobras, the Brazilian state-owned oil company, confirmed a major natural gas discovery off the coast of Colombia on August 5.
Gran Tierra Energy celebrates successful Ecuador oil discovery at Bocachico Norte-J1 Well
Gran Tierra Energy has announced a significant milestone with its latest findings at the Bocachico Norte-J1 well in Ecuador, marking the company’s fourth consecutive oil discovery in the region.
Petroperú to ensure ongoing maintenance of the Norperuano oil pipeline
Petroperú has committed to the continuous maintenance of the Norperuano Oil Pipeline (ONP) following a ruling by the Constitutional Court in favour of the Federation of United Coca-Mama Peoples of Marañón (Fedepcum).
Venezuela oil shipments normal post-election, but delays persist
Venezuela's oil production and exports are operating normally following the July 28 disputed presidential election, but the industry faces ongoing challenges with shipment delays of up to 60 days, particularly to Asian buyers, according to sources.
Panama Canal resumes full capacity as drought eases
The Panama Canal resumed full operations on August 5, handling 35 daily vessel transits, after a year of restrictions due to a severe drought, canal officials said.
Oil tycoon claims optimism over Milei's reforms was exaggerated
Billionaire oil magnate Paolo Rocca admitted that his expectations regarding the speed of economic reforms under libertarian President Javier Milei were overly ambitious.
Citgo sale faces fresh hurdle as court official seeks extension
The contentious auction of Venezuela's prized US refining asset Citgo Petroleum has hit another snag, with the court-appointed overseer requesting additional time to scrutinise bids, potentially delaying the high-stakes sale by a month.
ExxonMobil posts strong second-quarter earnings driven by Guyana assets
ExxonMobil announced its second-quarter 2024 earnings, reporting $9.24bn for the quarter and $17.5bn for the year-to-date.
Petronas and Argentina’s YPF to invest $30bn to construct LNG plant in Patagonia
Argentina’s state-owned energy firm YPF and Malaysia’s Petronas have agreed to jointly contribute more than $30bn to construct an LNG facility in Sierra Grande in the country’s southern Patagonia region.
ExxonMobil almost abandoned Guyana oil exploration before vast success
In the early 2010s, Scott Dyksterhuis, a geoscientist at ExxonMobil, worked to persuade the oil major to invest $175mn in the potential of a vast oil reserve off the coast of Guyana.
Petrobras board ousts audit head
Petrobras' board of directors has removed Francisco Petros from his position as chairman of the Statutory Audit Committee.
Follow us online