LatAmOil - Latin America Oil & Gas

Spanish judge charges PDVSA director's widow, partner in fraud and money laundering case

A Spanish judge has brought charges against the wife and partner of a late director of Petróleos de Venezuela (PDVSA), accusing them of funnelling funds from the state oil company into Spain and concealing them from tax authorities.

Repsol deepens Venezuelan ties, defying sanctions and political turmoil

TechnipFMC completes record loadout of manifolds for Guyana's Yellowtail project

TechnipFMC's Brazil team successfully completed the load out of six manifolds ExxonMobil's Yellowtail project, marking their largest operation to date.

Petrobras, India explore energy links

Petrobras CEO Magda Chambriard met with India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, to discuss potential cooperation between the Brazilian state-owned company and Indian firms in the energy sector.

US Federal Trade Commission to approve Chevron's acquisition of Hess

The US Federal Trade Commission is expected to approve Chevron's $53bn acquisition of Hess as early as this week, according to sources familiar with the matter.

Stena DrillMAX returns to Guyana after wrapping up Canadian exploration

The Stena DrillMAX, under contract with ExxonMobil, is set to return to Guyana following its exploration drilling at the Persephone wildcat well in the Orphan Basin off the northeast coast of Newfoundland and Labrador, Canada.

Petrobras boss backs bold Equatorial oil push

Brazil’s Minister of Mines and Energy, Alexandre Silveira, and Petrobras CEO Magda Chambriard defended oil exploration in the Equatorial Margin, highlighting its potential despite environmental concerns, including at the mouth of the Amazon River.

Camisea completes LNG corridor to boost cargo transport efficiency in southern Peru

The Camisea Consortium has completed its LNG Corridor with the inauguration of a third service station in La Joya, Arequipa.

Aramco to increase stake in MidOcean and back Peru LNG deal

Saudi Aramco plans to raise its stake in MidOcean Energy to 49%, while also financing MidOcean's acquisition of a 15% share in Peru LNG from Hunt Oil Company.

Colombia faces energy crisis as gas supplies fall

Colombia is facing a potential energy crisis, as experts warn the country must urgently decide whether to boost domestic gas production or increase liquefied natural gas (LNG) imports.

Energy transition slows as global oil and gas industry refocuses on fossil fuels – report

Former Citgo executive reveals forced confessions and coercion under Maduro’s government

José Pereira, one of six Citgo executives imprisoned by the Venezuelan government from 2017 until their release in 2022 as part of a high-profile prisoner swap, is breaking his silence.

Venezuelan oil corruption unravelled by lavish tip in $4.2bn Pdvsa scandal

YPF prepares to continue Patagonia LNG project if Petronas exits

Argentina's $30bn Liquefied Natural Gas project in Patagonia faces uncertainty as YPF CEO Horacio Marín acknowledged the potential withdrawal by Malaysian partner Petronas.

Argentina's Neuquén Province breaks records with August oil, gas production

The Neuquén government reported that it achieved an average oil output of 430,654 barrels per day and an average gas output of 109.63mn cubic metres per day in August, both of which are historical records.

Guyana to share oil income with citizens in 2024

Guyana's government is set to inject $70bn into citizens' disposable income in 2024, according to a recent half-year report from the Ministry of Finance, in a move to equitably distribute the nation's oil wealth.

Guyana and other non-OPEC nations lead crude production

Global oil markets are experiencing a significant shift as non-OPEC crude production outpaces demand growth, leading to a surplus that's pushing prices to their lowest levels since December 2021, S&P Global Commodity Insights experts reported.

BP’s Pan American targets Asian buyers for Argentina project

BP’s Pan American Energy will aim to sign supply contracts with Asian buyers from its floating LNG project, the company’s vice president Rodolfo Freyre told an audience at the annual Gastech conference in Houston.

Challenger Energy secures key approval for Uruguay farm out deal with Chevron

Challenger Energy announced on September 19 that it had received crucial regulatory approval for its farmout agreement with Chevron for the AREA OFF-1 licence in Uruguay.

Venezuela’s PDVSA aims to boost crude processing capacity amid recovery efforts

Petróleos de Venezuela (PDVSA), the state-owned oil giant, is looking to expand its capacity for processing diluted crude at the José Antonio Anzoátegui Industrial Complex.

TotalEnergies begins gas production at Argentina's Fenix field

TotalEnergies has commenced production at the Fenix gas field, located 60km off the coast of Tierra del Fuego in Southern Argentina.

TotalEnergies' Block 58 projected to become key driver of Surinamese oil and gas expenditure

TotalEnergies' Block 58 development offshore Suriname is set to be a major contributor to the estimated $31bn in offshore oil and gas expenditure for the remainder of 2024, according to Westwood forecasts.

Canadian miner Gold Reserve withdraws from Citgo auction

Canadian mining firm Gold Reserve has withdrawn its bid for Venezuela-owned Citgo Petroleum shares in a US court-organised auction, citing judicial delays and uncertainties in the sale process, sources familiar with the matter report.

US special master to contest Venezuela's bid to delay Citgo sale

The court-appointed special master overseeing the Citgo auction is set to oppose a recent Venezuelan government motion to postpone the sale, sources close to the matter report.

Petrobras awards TechnipFMC major subsea contract for pre-salt fields

Oil and gas engineering services company TechnipFMC has secured two significant subsea contracts from Brazil’s national oil company (NOC) Petrobras for offshore pre-salt fields.

Petrobras shifts focus to upstream operations in new strategic plan, says CFO

Brazil’s national oil company (NOC) Petrobras is set to place greater emphasis on upstream operations in its upcoming 2025-2029 strategic plan, according to CFO Fernando Melgarejo.

Pemex advances deep drilling in Sitio Grande, eyes major hydrocarbon reserves

Petróleos Mexicanos (Pemex) has reached a key milestone in its exploration and production plan with the drilling of a well in the Sitio Grande field, located in Reforma, Chiapas.

Workers expand Citgo lawsuit in Delaware, citing new defendants and evidence

Workers suing Citgo have filed a motion to expand their case in Delaware’s District Court, aiming to broaden the scope of the lawsuit with new defendants, evidence, and claims.

Venezuela's PDVSA seeks delay in $20bn Citgo auction amid political turmoil

Venezuela's oil giant is seeking a judicial reprieve in a high-stakes asset auction, highlighting the complex interplay of geopolitics and corporate finance.

US may be mulling Chevron licence suspension in Venezuela

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

Brazil ups use of FPSOs in offshore oil production

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

Venezuelan oil minister highlights sector progress amid diplomatic tensions with Spain, lauds OPEC

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".

LatAmOil: Petroperu faces financial uncertainty despite government aid

Petroperu faces financial uncertainty despite government aid

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

Guyanese VP defends gas-to-energy project, EXIM Bank to review loan application

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

Surinamese subsea tree demand to rely on TotalEnergies' offshore developments

Westwood Global Energy Group reported that TotalEnergies’ Block 58 development offshore Suriname is poised to significantly influence subsea tree demand for the remainder of 2024.