LatAmOil - Latin America Oil & Gas
Petrobras announces payout to shareholders
Petrobras' Board of Directors has approved the distribution of BRL13.57bn ($2.47bn) in interim dividends and interest on equity (JCP), equating to BRL1.0532 per common and preferred share.
Petrobras drives Brazil’s subsea boom
Petrobras has awarded contracts to the SLB Onesubsea group for subsea equipment to support operations in the Sépia and Atapu fields in the Santos Basin, and Roncador in the Campos Basin.
Guyanese government rakes in over $268 million in oil revenues for July
Guyana’s Natural Resource Fund (NRF) received over $268mn from oil sales and royalties in July, with $101.1mn in royalties for crude oil produced and sold during the second quarter of the year.
TotalEnergies to start drilling in Suriname's Block 58 in early 2026
TotalEnergies plans to begin drilling for the Suriname Block 58 project by early 2026, according to the Environmental and Social Impact Assessment the company submitted to the National Institute for Environment and Development in Suriname.
Guyanese offshore drilling optimised due to breakthrough SLB technology
SLB is set to significantly improve drilling efficiency for ExxonMobil in Guyana, reporting a 65% increase in the Rate of Penetration on one of the company's most complex offshore trajectories
Venezuela's PDVSA ousts workers accused of anti-Maduro bias, sources say
Venezuela's state-run oil company PDVSA has forced out more than 100 employees over their political views following last month's contested election, according to workers and unions familiar with the matter.
Equinor completes Brazil's first hybrid offshore supply vessel conversion
Norwegian energy firm Equinor said it has completed the conversion of an offshore supply vessel to hybrid power in Brazil, in a project that could cut carbon emissions by up to 30%.
Petroborn, Pathfinder Join Forces in Brazil
Pathfinder Energy Corp. and Petroborn Óleo e Gás S/A have signed a Memorandum of Understanding (MOU) to collaborate on onshore oil and gas projects in Brazil.
Hess valuation to be determined in dispute between ExxonMobil and Chevron
An arbitration panel is set to determine the valuation of Hess Corporation's oil assets in Guyana as it adjudicates the ongoing dispute between ExxonMobil and Chevron.
Petrobras awards contracts for two pipelay support vessels
Brazil’s national oil company (NOC) Petrobras has awarded contracts for two pipelay support vessels (PLSVs) to Techdof, a joint venture between DOF Subsea and TechnipFMC.
Russian gasoline exports to Brazil set to slow, diesel flows steady
Russian gasoline exports to Brazil are likely to decline in coming weeks following Moscow's policy shift, while diesel inventories in the South American country have begun to draw down, industry sources said.
Petrobras to invest $175mn idle fertiliser plant restart
Brazil’s national oil company (NOC) Petrobras said it would invest BRL870mn ($175mn) to resume operations at its Araucaria Nitrogenados fertiliser plant in the second half of 2025.
Brazil's oil output still down 120,000 bpd after strike ends, says industry body
Brazil's oil production remains curtailed by 120,000 barrels per day (bpd) despite the end of a strike at the country's environmental agency Ibama, according to the oil industry association IBP.
Petrobras to launch 4D seismic survey at Buzios field
Guyanese oil output to surge beyond 1.4mn barrels per day
Guyana’s government will receive a development plan for the Hammerhead oil project in early 2025, announced Natural Resources Minister Vickram Bharrat.
New Fortress Energy completes maintenance of Fast LNG 1 unit offshore Mexico, resumes LNG production
New Fortress Energy (NFE) has completed the scheduled maintenance of its 1.4mn tonnes per annum (mtpa) Fast LNG 1 unit offshore Altamira, Mexico.
Oil spill threatens Venezuela’s gulf and pristine coastline
An oil spill, spanning 225 square kilometres—equivalent to 37,000 soccer fields—has been affecting the Golfo Triste in the southern Caribbean Sea for at least ten days.
Canada's GTE makes $226mn takeover bid for Canadian-UK firm i3
Stock at UK oil and gas producer i3 Energy soared close to 34% in early trading on the morning of August 20 after Canadian energy group Gran Tierra Energy announced a takeover bid for the company worth GBP174.1mn.
Hess in search of a partner for Block 59 offshore Suriname
Hess Corporation is seeking partners for Block 59 offshore Suriname, following the transfer of interests from ExxonMobil and Equinor in July 2024, Suriname's national oil company, Staatsolie confirmed.
Pemex partners with CME to boost Gulf oil production
Pemex has secured a deal with CME Oil and Gas, a Mexico-based oilfield services provider, to significantly increase crude production in the Gulf of Mexico.
Guyanese oil output to surge beyond 1.4 million barrels per day due to Hammerhead project
Guyana Natural Resources Minister Vickram Bharrat announced that the government will receive a development plan for the Hammerhead oil project in early 2025.
Pemex expands tanker fleet to enhance fuel distribution
PEMEX has significantly bolstered its fuel distribution network, adding 1,800 new tankers to its fleet during the current administration.
Pemex reduces greenhouse gas emissions by 11% in 2023
In 2023, Pemex achieved a significant reduction in its direct greenhouse gas (GHG) emissions, cutting them by 11% to 64.1 million tonnes of CO2 equivalent (CO2e).
YPF and Petronas target FID by end of 2025 for Argentine LNG project
Argentina’s state-run firm YPF and its joint partner Malaysia’s Petronas are targeting a final investment decision before the end of 2025 for the country’s flagship LNG export terminal.
Venezuela's oil minister announces key well rehabilitations, nears 1mn barrels per day
Pedro Tellechea, Venezuela’s Minister of Oil and President of PDVSA, announced the successful rehabilitation of the Chaima, L-20-1, and Paramaconi wells within the Orinoco Hugo Chávez Oil Belt.
Guyana and Brazil lead record-breaking subsea market boom
The subsea market, encompassing suppliers of umbilical risers, flowlines, and other key components, is on track to experience unprecedented investment levels, with over $42bn projected to be spent by 2027 according to a Rystad Energy report.
Guyana's offshore oil resources now estimated to exceed 11.6 billion barrels
Guyanese Minister of Natural Resources Vickram Bharrat announced in a press conference that ExxonMobil’s Stabroek Block offshore Guyana is now estimated to contain 11.6bn barrels of oil.
Enap's profits slump in the first six months of 2024
Chilean national energy company Enap reported a 49% y/y decline in profits for the first half of 2024, with earnings totalling $172.7mn.
Ecopetrol's fracking operations in the US yield record profits
Ecopetrol, the Colombian oil giant, has seen significant success in its fracking operations in the United States, which have become the most profitable segment of the company’s portfolio.
Petrobras mulls additional FPSO platform for Buzios field
Brazil's national oil company (NOC) Petrobras is studying the addition of a new floating production, storage and offloading (FPSO) platform to its Buzios offshore field.
New FPSO arrives at Petrobras' pre-salt field after long journey from Asia
Brazil’s national oil company (NOC) Petrobras has welcomed a new floating production, storage and offloading (FPSO) vessel to its offshore fleet, according to operator Yinson Production.
Colombia rules out Venezuelan gas imports citing technical issues
Colombia's Minister of Mines and Energy, Andrés Camacho, said importing natural gas from Venezuela is not feasible due to political, financial, and technical constraints,
Mexico’s oil industry group AMEXHI reshuffles board, pledges cooperation
The Mexican Association of Hydrocarbon Companies (AMEXHI) has appointed new board members and officers for 2024-2025.
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