LatAmOil - Latin America Oil & Gas
Citgo teeters amid Venezuela crisis and $20bn creditor claims
The future of Citgo, once a crown jewel in Venezuela's overseas oil empire, hangs in the balance as the company grapples with mounting losses and legal challenges.
Guyanese oil revenue from first half of 2024 significantly boosted
Guyana's Natural Resource Fund (NRF) accumulated GYD 288.35bn ($1.38bn) from oil sales and royalties during the first half of 2024, the Guyanese government confirmed, equating to approximately GYD 1.58bn ($7.6mn) daily.
Petrobras’ interim dividend set at $2.65bn, analysts forecast $6bn in extraordinary dividend
Petrobras’ board has approved interim dividends and interest on equity totalling BRL13.57bn ($2.65bn), which is equivalent to R$1.05 per outstanding share.
Suriname posed for the inaugural standalone gas project following the Block 52 discovery
Following discoveries made by Petronas in Block 52, situated off the coast of Suriname, the country appears to be poised to undergo its inaugural standalone gas project.
Pemex expands refining capacity amid operational challenges
As President López Obrador's administration approaches its end, PEMEX has significantly increased its refining capacity and now processes 1.7mn barrels per day.
Petrobras awards SLB OneSubsea contract for Roncador field
Brazil’s national oil company (NOC) Petrobras has awarded SLB OneSubsea a contract to supply subsea equipment for the Roncador field in the Campos Basin.
Interoil terminates exploration contracts with ANH in Colombia
Interoil Exploration and Production has announced the termination of its exploration contracts with the Colombian National Hydrocarbons Agency (ANH) for two key blocks due to persistent community resistance against exploration activities.
Pemex reduces debt to suppliers amid ongoing financial challenges
PEMEX has made strides in managing its financial obligations, successfully reducing its outstanding debt to suppliers and contractors by 5.63%, totalling MXN 126.357bn as of July 2024.
Amigo LNG signs 20-year supply deal with Malaysia’s E&H Energy
Amigo LNG, a subsidiary of LNG Alliance, Singapore, has reached a deal with E&H Energy of Malaysia to supply the firm with 3.6mn tonnes per year of LNG over a 20-year period.
Ecuador to begin closure of Amazon oil block amid environmental protests
Ecuador's Minister of Energy and Mines, Antonio Gonçalves, announced that the process to shut down the first oil block in the Yasuní National Park will commence tomorrow.
Pemex struggles witth 2024 production targets, output declines persist, but refining capacity increases
Petróleos Mexicanos (Pemex) saw its liquid hydrocarbon output dip in July, marking a decline of 10,000 barrels per day (bpd) from the previous month and 83,000 bpd from a year earlier, according to the latest company data.
Guyanese vice president promises gas-to-energy project will proceed despite financial setbacks
Guyanese Vice President Dr Bharrat Jagdeo confirmed that the country’s landmark Gas-to-Energy project is progressing steadily, with the government investing a significant $400mn from its own resources to advance the initiative.
TotalEnergies submits environmental assessment for Suriname Block 58
TotalEnergies submitted its environmental and social impact assessment (ESIA) to Suriname’s environmental authority for its offshore Block 58 project.
ExxonMobil resumes Guyanese crude output following Gas-to-Energy project halt
ExxonMobil's consortium in Guyana has fully restored crude output at its two floating production facilities following the completion of a natural gas pipeline tie-in, a company spokesperson confirmed.
Elliott emerges as top bidder for Citgo parent in US court-ordered auction
Elliott Investment Management has reportedly taken pole position in the US court-mandate auction for the parent company of Citgo Petroleum Corp, the refiner which cut ties with its Venezuelan owners in 2019 following the imposition of sanctions.
Lula leverages state oil firm for gas expansion
Brazilian President Luiz Inácio Lula da Silva has approved changes to the country’s natural gas market, aiming to increase supply and lower prices.
Venezuela's Citgo crisis deepens as union leaders decry cross-party mismanagement
Citgo, Venezuela's prized US asset, faces heavy losses and a looming auction sale. Union leaders blame poor management post-Guaidó takeover and call for worker involvement to save the refiner, seen as crucial to the country's economic future.
Guyana unseats Trinidad and Tobago as Caribbean's leading hydrocarbon producer
Guyana has overtaken Trinidad and Tobago as the leading hydrocarbon producer in the Caribbean, producing an average of 50,246 barrels per day of oil and condensate.
TGN completes natural gas transport project to reduce need for imports
Transportadora de Gas del Norte SA has successfully upgraded its Deán Funes and Ferreyra compressor stations, marking significant progress in Argentina's Northern Gas Pipeline reversal project.
Victor Rodriguez Padilla appointed new Pemex chief
President-elect Claudia Sheinbaum has named Victor Rodriguez Padilla as the new director of Petróleos Mexicanos (Pemex).
Argentine government authorises additional natural gas exports, strengthening fiscal surplus
The Argentine Ministry of Energy has authorised additional volumes for natural gas exports, aiming to enhance the country’s export profile, generate foreign currency, and contribute to a fiscal surplus.
Shell awards McDermott major contract for Trinidad and Tobago offshore gas project
Shell has awarded an engineering, procurement, construction and installation (EPCI) contract to McDermott for the Manatee gas field development, located 100 kilometres off the southeast coast of Trinidad and Tobago.
TGS surveys Brazil’s offshore potential
TGS has commenced the PAMA 3D Phase 1 Survey in Brazil's Equatorial Margin, covering 19,343 square kilometres across over 25 potential exploration blocks in the Pará-Maranhão Basin.
CNH greenlights Pemex Chac field plan in Mexico, extends production to 2038
Mexico's National Hydrocarbons Commission (CNH) has approved a significant update to Pemex’s development plan for the Chac Field, a key asset located in the shallow waters off Campeche, Mexico.
Mexico's gasoline prices surge 24% under AMLO’s administration amid shrinking fuel subsidies
Mexican LNG terminal planned to tap Pacific rim markets
A new liquefied natural gas project is taking shape on Mexico's Pacific coast, aiming to capitalise on growing demand for cleaner marine fuels and power generation in the Americas.
AMEXHI unveils strategic blueprint for Mexico’s energy future
The Mexican Association of Hydrocarbon Companies (AMEXHI) has unveiled its latest report, "2030: Mexico in Growth," outlining a roadmap to harness the country's untapped energy potential and drive sustainable development.
Guyana on track to becoming world’s second largest deepwater producer
Guyana appears to be on track to becoming the world’s second largest deepwater producer in a decade’s time.
US poised to slap sanctions on 60 Venezuelan officials over disputed election
The US government is preparing to impose sanctions on approximately 60 Venezuelan officials and their family members in response to the contentious July presidential election.
Guyana to receive an increasing proportion of TechnipFMC subsea systems amid production boom
TechnipFMC is poised to deliver 400 subsea trees between 2024 and 2029, with 35% of these destined for ExxonMobil's projects in Guyana, Rystad Energy claimed.
Biotechnology to drive biodiesel production in Bolivia
Bolivia is set to promote the use of biotechnology, with a primary focus on biodiesel production, according to the Minister of Rural Development and Lands, Yamil Flores.
Argentina's Neuquén province hits record oil and gas output
Argentina’s Neuquén province affirmed its dominance in Argentina's hydrocarbon industry, achieving record oil and gas production levels in July.
Brazil’s Petrobras welcomes new FPSO at pre-salt field, may add another to Buzios
Brazil’s national oil company Petrobras has welcomed a new floating production, storage and offloading (FPSO) vessel to its offshore fleet, according to operator Yinson Production.
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