LatAmOil - Latin America Oil & Gas

Guyanese vice president defends Gas-to-Energy project viability amid mounting criticism

Guyanese Vice President Dr Bharrat Jagdeo defended the landmark gas-to-energy project as the most feasible venture he has encountered.

Venezuela's largest refinery grinds to halt after power failure

Procurement costs rise as Guyanese oil development intensifies

According to Guyana’s 2024 mid-year report, procurement spending in the oil and gas sector totalled $314mn, reflecting significant growth in engineering and machining services, accommodation, equipment rental, and catering.

Venezuelan opposition urges revocation of US oil sector licences

Venezuela's primary opposition coalition has urged the United States to rescind licences permitting energy firms, including Chevron, to operate within the country. This move aims to exert pressure on President Maduro after the disputed election.

Argentina set for oil and gas industry explosion in early 2030s

Argentina's oil and gas sector is poised for significant growth, with the potential to triple its output by the early 2030s, according to industry leaders speaking at the 4th Shale in Argentina conference in Houston, Texas.

Petroperu faces financial uncertainty despite government aid and Fitch’s concerns

Petroperu, the state-owned oil company, continues to struggle financially despite receiving substantial government support.

Neuquén seeks maintenance for Vaca Muerta national roads

The Minister of Infrastructure of Neuquén, Rubén Etcheverry, proposed an agreement to the National Directorate of Roads to transfer maintenance responsibilities for 397km of national routes 22, 40, 237, 242, and 231 to the province.

France’s Vallourec expands pipe coatings division with acquisition in Brazil

French tubular solutions provider Vallourec has struck a deal to acquire Thermotite do Brasil, a Matt subsidiary specialising in thermal insulation pipe coating services for offshore oil and gas operations.

CFE and Pemex eye green hydrogen partnership for refinery project

Mexico's Federal Electricity Commission (CFE) is exploring a potential partnership with Pemex to develop a green hydrogen project at one of the oil giant’s refineries.

Colombian judge orders Petrobras and Ecopetrol to cease offshore gas well

Petrobras and Ecopetrol have been ordered by a Colombian court to halt drilling operations on the Uchuva-2 offshore gas well, located near Taganga in the Caribbean, following a legal challenge from a local Indigenous community.

Suriname hydrocarbon development advances through Staatsolie, PetroChina deal

Staatsolie announced that nearly 46% of Suriname’s offshore area is now under contract, following the signing of production-sharing contracts for Blocks 14 and 15 with PetroChina Investment Suriname B.V.

MidOcean energy acquires greater stake in Peru LNG

MidOcean Energy, a liquefied natural gas company managed by EIG, has announced its acquisition of an additional 15% interest in Peru LNG (PLNG) from Hunt Oil Company.

OSRL to expand oil spill response capabilities in Guyana

Oil Spill Response Limited is ramping up its initiatives to bolster oil spill response capabilities in Guyana, targeting the region's rapidly growing oil and gas sector.

Venezuela's VP Rodríguez meets Repsol executive amid strained Spain relations

Venezuelan Vice President and Oil Minister Delcy Rodríguez held talks with Repsol's Venezuela business unit director Luis Antonio García Sánchez in Caracas on September 13, discussing "strategic alliances" and "energy cooperation."

St Vincent PM suggests Maduro's Venezuela presidency benefits Guyana's oil sector

Ralph Gonsalves, Prime Minister of St Vincent and the Grenadines, has suggested that Nicolas Maduro's presidency in Venezuela is advantageous for Guyana's burgeoning oil industry.

Brazil's Inpasa hits Bahia with new plant

Inpasa, Brazil's largest corn ethanol producer, announced a BR1.2bn ($217mn) investment to build a new ethanol plant in Luís Eduardo Magalhães, Bahia.

Venezuelan Vice President lauds OPEC on 64th anniversary

Venezuela's Vice President Delcy Rodríguez has expressed gratitude to OPEC Secretary General Haitham Al Ghais for his warm greetings to the Venezuelan people, President Nicolás Maduro, and the country's oil sector workers.

MidOcean Energy increases stake in Peru LNG

MidOcean Energy, an LNG company formed by US private equity fund EIG, has raised its stake in Peru LNG.

SBM Offshore to deliver two large vessels to Petrobras

Dutch firm SBM Offshore is set to dispatch two large oil vessels to Brazil, while the country’s national oil company Petrobras is planning tenders for similar units to boost its crude oil output.

Halliburton submits bid for data management services in Guyanese oil and gas sector

Halliburton submitted a $1.88mn bid to Guyana’s National Procurement and Tender Administration Board, pursuing a contract for data management services for the country’s oil and gas exploration and production operations.

Former Norwegian minister condemns calls for Guyana to cease oil production

Former Norwegian Environment Minister Erik Solheim has condemned calls from individuals in veteran oil-producing countries including the United States and Norway for Guyana to cease its oil production.

United States Export-Import Bank to review Guyana's Gas-to-Energy loan request

The United States Export-Import Bank (EXIM) will review Guyana's $646mn loan request for its Gas-to-Energy project in October, Vice President Bharrat Jagdeo confirmed.

Staatsolie signs production sharing contracts with PetroChina for two blocks offshore Suriname

Staatsolie announced that nearly 46% of Suriname’s offshore area is now under contract following its signing of production-sharing contracts for Blocks 14 and 15 with PetroChina Investment Suriname B.V.

US mulls Chevron licence suspension in Venezuela, sources say

The Biden administration is considering suspending Chevron Corp's licence to extract oil in Venezuela as part of efforts to pressure President Nicolas Maduro's government into dialogue with the opposition in the wake of the July 28 disputed election.

US imposes sanctions on Venezuelan officials over disputed election, stops short of targeting oil

The US on September 12 slapped sanctions on 16 close allies of Venezuelan President Nicolas Maduro, citing "widespread voter fraud" in the country's recent presidential election. However, the new sanctions do not target key oil and gas exports.

Brazil’s environmental regulator grants operating licence for FPSO Atlanta

Brava Energia, the Brazilian oil and gas company formed by the merger of 3R Petroleum and Enauta, has obtained an operating licence for the floating, production storage, and offloading (FPSO) unit Atlanta.

Venezuelan Oil Minister highlights sector progress amid diplomatic tensions with Spain

Venezuelan Minister of Petroleum Delcy Rodríguez convened a meeting with Héctor Obregón, president of Petróleos de Venezuela (PDVSA), and Mauricio Herrera, president of Petroquímica de Venezuela (Pequiven), to assess the progress of oil & gas

Trinidadian national fuel company faces charges over divers' deaths

Trinidad and Tobago's national fuel company, Paria Fuel Trading Co., a subsidiary of Trinidad and Tobago's national fuel company Trinidad Petroleum Holdings, is facing legal repercussions following the deaths of four divers in 2022.

Argentina expecting major energy investment surge driven by RIGI initiative

The Argentine government is projecting energy investments of up to $15bn in 2025 and $16.5bn in 2026, Energy Secretary Eduardo Rodriguez Chirillo stated.

Oil plunges, Petrobras holds on gasoline prices

International oil prices fell to their lowest levels in nearly three years, amid concerns over the global economy's recovery.

Petrobras unveils Comperj after 16-year wait

Petrobras has completed the long-delayed Polo GasLub Itaboraí project, formerly known as Comperj, 16 years after construction began and following $14bn in losses.

Chevron lobbies for continued Venezuelan operations despite post-election turmoil

In the wake of Venezuela's disputed presidential election, US oil giant Chevron has intensified its lobbying efforts in Washington, urging officials to allow its continued operations in the crisis-stricken South American country.

LatAmOil: Chevron lobbies for continued Venezuelan operations despite post-election turmoil

SBM Offshore, MISC Berhad ink share purchase deals for two FPSOs

SBM Offshore has entered into two share purchase agreements with its partner MISC Berhad concerning two floating production storage and offloading (FPSO) units.

Petro-Victory, Eneva mull gas projects in Brazil

Calgary-headquartered Petro-Victory Energy has signed a memorandum of understanding (MoU) with Eneva to develop non-associated gas resources in the São João field, located in Brazil's Barreirinhas basin, in the state of Maranhão.

Petrobras, Gerdau partner to explore decarbonisation projects

Petrobras has signed a non-binding Memorandum of Understanding (MoU) with steelmaker Gerdau to evaluate commercial opportunities in decarbonisation initiatives,

Constellation secures Shell contract for Alpha Star rig in Brazil

Offshore drilling contractor Constellation has landed a new contract with Shell for its Alpha Star ultra-deepwater drilling rig off the Brazilian coast

KBR secures contract for Petrobras FPSO topsides in Brazil

US engineering firm KBR has been awarded contracts by Seatrium to develop topsides facilities for two floating production storage and offloading (FPSO) units destined for Petrobras' Atapu and Sepia fields in Brazil's Santos Basin.

Petrobras launches Brazil's largest natural gas processing unit in Rio de Janeiro

Petrobras has begun start-up procedures for Brazil's largest natural gas processing unit (UPGN) in Itaborai, near Rio de Janeiro.