LatAmOil - Latin America Oil & Gas
A decade on hold, Petrobras seeks environmental permit
The FZA-M-59 offshore block, held by Petrobras and initially in partnership with BP, has faced a decade-long delay in securing environmental permits.
Petrobras cuts gas prices, rewards big sellers
Petrobras announced a 1.4% reduction in natural gas prices, effective in November, along with a discount programme for piped gas distributors exceeding their minimum contractual volumes.
New Fortress Energy’s Altamira LNG plant in Mexico exports first cargo to the Netherlands
US LNG developer New Fortress Energy has delivered its first LNG cargo to Holland’s Gate terminal from its Altamira LNG plant located in Mexico.
Argentine oil sector poised for growth with transportation overhaul
Argentine company Leviticus has installed new monobuoys at Punta Colorada, providing a major boost to oil shipping in the region.
Brazil’s maritime fleet set to hit 500 vessels
Brazil’s offshore support sector is on the brink of a growth cycle as investments and new contracts are set to boost fleet numbers.
Petrobras cuts 2025 spending forecast
Petrobras plans to reduce its investment target for 2025, despite government requests for an increase.
Venezuelan economy remains reliant on oil as challenges persist
Economist Rafael Quiroz believes Venezuela's economy will remain heavily dependent on oil for several decades, possibly longer than anticipated.
Venezuela advances gas production with Trinidad and Tobago agreement
Venezuela's Vice President and Minister of Petroleum, Delcy Rodríguez, announced the arrival of the vessel Doña José II, as part of a broader agreement with Trinidad and Tobago aimed at enhancing gas production capabilities in the Dragon Field.
ExxonMobil and partners to invest $55 billion in Guyanese oil and gas projects by 2027
ExxonMobil, along with its Stabroek Block co-venturers Hess and CNOOC, is set to invest $55bn in Guyana's oil and gas projects by 2027, according to the terms of the 2016 Stabroek Block Production Sharing Agreement.
Tecpetrol plans a new LNG export project utilising Vaca Muerta gas
Tecpetrol, the oil arm of the Techint group, has unveiled plans for a new liquefied natural gas (LNG) export project utilising gas from Argentina's Vaca Muerta formation.
Trinidad and Tobago are considering acquiring the Loran gas field from Venezuela
Trinidad and Tobago is nearing a deal to acquire the gas-rich Loran field from Venezuela, Energy Minister Stuart Young announced during a recent budget debate in the House of Representatives.
Brazil’s oil giant goes for major shakeup
3R Petroleum Óleo e Gás has received board approval for the merger of subsidiaries Enauta Participações and 3R Operações Offshore.
OneSubsea wins big Petrobras contract in Brazil
SLB’s OneSubsea joint venture has won a contract with Petrobras to support the expansion of the Roncador oil field in Brazil's Campos Basin, a project central to enhancing recovery from one of the country’s major oil fields.
Pemex faces lawsuit over deadly gas leak in Texas refinery
Three workers have filed a lawsuit against Mexico’s state-owned oil company Pemex following a deadly hydrogen sulfide gas leak at its Deer Park refinery in Texas.
Guyanese crude prices slump as Libyan crude production recommences
The global oil market is witnessing significant shifts, with Guyanese crude prices falling to their widest differential against Argus North Sea Dated since assessments began in February.
Guyanese consortium awarded contract to audit Stabroek Block expenses
Guyana's government has awarded a $312mn contract to VHE Consulting, a local consortium led by Chartered Accountant Floyd Haynes, for the third cost oil audit of the Stabroek Block.
Guyanese oil output on track to reaching 2030 production goal
Guyana's oil production is set to surge to 1.5mn barrels per day (bpd) by 2030, President Irfaan Ali announced in a recent address to the Guyanese Parliament.
KBR wins engineering contract for Trinidad and Tobago gas field upgrade
KBR has secured an engineering and procurement services contract for the Beachfield Manatee upgrade, a crucial component of Shell's Manatee gas field project in Trinidad and Tobago.
Venezuela touts oil reserves in bid for BRICS membership ahead of Kazan summit
Venezuela is highlighting its vast oil reserves and strategic geographic position as key assets in its bid to join the BRICS group of emerging economies ahead of the bloc's summit in the Russian city of Kazan later this month.
ConocoPhillips reportedly secures US licences to pursue Venezuela debt recovery
US oil and gas giant ConocoPhillips has obtained a series of licences from the US government that could bolster its efforts to recover approximately $10bn owed by Venezuela, allowing it to seize money from state oil firm PDVSA's accounts worldwide.
Sheinbaum’s energy reform faces investment and trade risks
Mexico’s President, Claudia Sheinbaum, has pushed forward a controversial energy reform aimed at reasserting federal control over the nation’s key energy assets.
ExxonMobil drills new appraisal well for Guyana's upcoming Hammerhead project
ExxonMobil is currently drilling the Hammerhead-4 appraisal well offshore Guyana, a crucial step in advancing its Hammerhead development project slated for first oil in 2028.
ExxonMobil Guyana allocates $287 million for site restoration and decommissioning
ExxonMobil Guyana Limited has set aside $287mn for decommissioning and site restoration efforts by the end of 2023, according to company President Alistair Routledge.
ExxonMobil Guyana to relocate capping stack to Vreed-en-Hoop Shore Base
ExxonMobil Guyana announced plans to relocate its recently acquired capping stack from the Guyana Shore Base Inc to the Vreed-en-Hoop Shore Base Inc.
Ecopetrol's bond deal delayed as company opts for loan to tackle debt
Colombia's state-owned oil giant Ecopetrol has taken a significant step back in its financial strategy by postponing a $1.75bn bond sale aimed at funding a debt buyback.
Guyanese president announces Vision 2030 initiative ahead of elections
Guyanese President Irfaan Ali unveiled a series of economic measures ahead of the 2025 national elections, leveraging the country's newfound oil wealth.
ExxonMobil Guyana completes pipeline connection to FPSOs
Guyana's Gas-to-Energy project has reached a new milestone with the connection of a pipeline to two of Exxon Mobil's floating production platforms in the Stabroek block.
Oil and gas industry meeting called after death of worker in Vaca Muerta
Argentina's National Labor Secretariat has called an urgent meeting with the Private Oil and Gas Union of Río Negro, Neuquén and La Pampa, along with industry business chambers, following a worker's death in Vaca Muerta.
Compressor plant is online in Buenos Aires in major boost to Argentine gas transportation
The Salliqueló Compressor Plant in Buenos Aires province has commenced operations, marking a significant milestone in Argentina's gas transportation infrastructure.
Petrobras greenlights 10 new underwater vessels
Petrobras has approved the contracting of 10 new vessels for underwater operations, comprising eight ROV Support Vessels (RSV) and two Anchor Handling Tug Supply (AHTS) vessels, with a required minimum of 40% local content for their construction.
Petrobras to address safety concerns following worker fatalities
Brazil’s national oil company (NOC) Petrobras has scheduled a crucial meeting with union representatives to discuss safety policies following the deaths of two outsourced workers in early October.
Turkey and Brazil emerge as top buyers of Russian diesel
Turkey and Brazil have become the leading importers of Russian seaborne diesel and gasoil following the EU’s ban on Russian oil products.
LatAmOil: Petrobras confirms major gas discovery in Colombia
Indian refiners tap Venezuelan crude market
Two prominent Indian state refiners have secured substantial volumes of Venezuelan crude for November delivery
Venezuela and Saudi Arabia strengthen economic ties
Venezuela's Foreign Minister, Yván Gil, held meetings with Saudi Arabia's Ambassador to Venezuela, Abdullah Muhammad Al Saihani, to discuss expanding economic cooperation between the two nations
Vitol sells Venezuelan oil to India
Two state-owned Indian refiners have purchased 2mn barrels of Venezuelan crude oil from trading house Vitol for delivery in November.
Pemex to drill deepest well in history with $177mn investment
Petróleos Mexicanos (Pemex) is set to embark on its most ambitious deep-water drilling project to date, with plans to drill the Kuajtla 1 well in the Gulf of Mexico.
Indian firm Jindal scraps PDVSA oil upgrader deal in Venezuela
Indian conglomerate Jindal Power Ltd. has abandoned plans to revitalise a key Venezuelan oil facility under a partnership with state-owned energy company PDVSA.
Turkey, Brazil emerge as top importers of Russian diesel, gasoil in wake of EU ban
Turkey and Brazil have emerged as the top importers of Russian seaborne diesel and gasoil in the wake of the EU’s embargo on Russian petroleum products introduced in February last year.
24-hour oil workers strike underway at Vaca Muerta
Argentina's oil industry faced a significant setback as unionised workers in the Vaca Muerta region announced a 24-hour "total stoppage of activities" following the death of an employee.
All eyes on Suriname following GranMorgu FID
TotalEnergies is proceeding with the development of the GranMorgu development in Suriname, in the hopes of unlocking offshore oil production in the country.
YPF to sign deal to sell third of Vaca Muerta gas output, move HQ
Argentina's national oil company YPF is set to sign a major agreement to sell a third of the gas produced in the Vaca Muerta mega-deposit over the next two decades, according to Chief of Cabinet Guillermo Francos.
Sispro raises concerns about Guyana's inaugural offshore licensing round
Guyana's inaugural offshore licensing round has hit a snag as Sispro Inc., the only Guyanese company among the bidders, has faced hurdles in finalising its award for blocks S3 and D2.
Petronas launches seismic survey in two Surinamese blocks
Petronas has unveiled plans for a major 3D seismic acquisition across Suriname's offshore Block 63 and the Ironman Prospect in Block 63/52, Suriname.
Petrobras, Wood sign deal to develop new FPSO concepts
Engineering and consulting company Wood has entered into an agreement with Brazil’s national oil company (NOC) Petrobras to develop concept studies for future Floating Production Storage and Offloading (FPSO) units
Petrobras sets new production records at its Brazilian refineries
Petrobras reported a Total Utilisation Factor (FUT) of 96.8% at its refineries in September, wit the third quarter’s FUT at 95.2% - both figures represent a record high, the Brazilian national oil company (NOC) said.
Brazil’s ethanol producer FS Bioenergia advances CCS project
FS Bioenergia, one of Brazil's leading ethanol producers, has announced the next phase of its ambitious BRL460mn ($83mn) carbon capture and storage (CCS) project
Petroperú’s future hangs in balance amid delays in board appointments
Petroperú, the state-owned oil company, is facing uncertainty as the government has yet to finalise the appointment of its new board of directors.
Guyana seeking consultant to review ExxonMobil Guyana's seventh oil project
Guyana's Ministry of Natural Resources has issued an Expression of Interest for consultancy firms to review ExxonMobil's Hammerhead Field Development Plan, the consortium's seventh oil project in the Stabroek Block.
ExxonMobil and Sol Group enter strategic partnership in Guyana's fuel market
Sol Group, a leading Caribbean energy solutions provider, has inked a deal with ExxonMobil to become the official licensee for the Mobil brand across its service station network in Guyana.
Cosan’s Edge lands LNG supply deal for heavy-duty trucks
Cosan Group’s Edge has partnered with Virtu GNL to supply 150,000 cubic metres of liquefied natural gas (LNG) per day to support the heavy-duty transport sector, the companies announced.
Brazil's new drillship prepped for Petrobras inaugural
Eldorado Drilling’s ultra-deepwater drillship, Zonda, is set to begin its inaugural offshore drilling project for Petrobras in Brazil following upgrades and sea trials in the South China Sea.
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