LatAmOil - Latin America Oil & Gas
Petro’s stance against oil contracts sparks backlash among Colombian farmers and miners
Colombian President Gustavo Petro has doubled down on his pledge to halt new oil exploration and extraction contracts, denouncing fossil fuels as agents of environmental destruction.
MidOcean Energy expands stake in South America's first LNG export terminal
MidOcean Energy, an LNG company managed by U.S.-based EIG, has increased its investment in Peru LNG, South America’s first liquefied natural gas (LNG) export terminal located in Pampa Melchorita, 170 kilometres south of Lima.
Solstad secures new Brazilian offshore vessel contracts
Norwegian firm Solstad Offshore has won significant contracts worth $53mn for three vessels operating offshore Brazil.
Brazil overtakes Malaysia as China's top Venezuelan crude supplier
Brazil has emerged as China's primary supplier of Venezuelan heavy crude oil, marketed as bitumen blend, displacing Malaysia's decade-long dominance in September, according to China's General Administration of Customs (GAC) data.
Petroperú board could proceed with four members amid government delays
The ongoing inability of the Peruvian government to appoint a full board for Petroperú continues to raise concerns.
PDVSA faces fresh crisis amid former chief arrest and looming US election
Venezuela's state oil company PDVSA has come under renewed scrutiny following the arrest of its former president and Industries Minister Pedro Tellechea, highlighting persistent corruption concerns as uncertainty looms over the US' next steps.
Baker Hughes secures major Petrobras flexible pipe contract
Baker Hughes has won significant contracts from Brazil’s national oil company (NOC) Petrobras to supply flexible pipe syste.ms for several Brazilian offshore oil fields
Petrobras plans Tupi field production boost
Brazil’s national oil company (NOC) Petrobras aims to restore production at its Tupi oil field to 1mn barrels per day (bpd) by 2027, according to exploration and production director Sylvia dos Anjos.
Petrobras to invest $10.5mn in wind measurement technology
Brazil’s national oil company (NOC) Petrobras has committed $10.5mn to expand its offshore wind measurement capabilities through new BRAVO buoy deployments.
Omni Táxi Aéreo wins Equinor offshore transport contract in Brazil
Omni Táxi Aéreo, part of the Omni Helicopters International Group, has secured a contract with Equinor Brasil to provide aerial support in the Bacalhau field, Santos Basin.
Petrobras reports strong Q3 production and refining performance
Brazil’s national oil company (NOC) Petrobras said its Q3 production stood stable at 2.689mn barrels of oil equivalent per day (boed) while achieving several operational milestones.
Petrobras to resume UFN-III fertiliser plant construction
Brazil's national oil company (NOC) Petrobras has announced plans to restart construction of its UFN-III nitrogen-based fertiliser unit in Tres Lagoas, Mato Grosso do Sul.
China’s CMFL acquires stake in Brazilian FPSO project
Dutch maritime engineering firm SBM Offshore has sold a minority share in the floating, production, storage, and offloading (FPSO) vessel Sepetiba to China Merchants Financial Leasing (Hong Kong) Holding Co (CMFL).
Massive oil storage project set for Mexico’s deepwater Trion field
Dutch company SBM Offshore has awarded a contract to Norway’s AXTech for a floating storage and offloading (FSO) unit to be deployed at the Trion oil field, a deepwater project 180 kilometres off the Mexican coast.
Challenger Energy farms out 60% of Uruguayan offshore block to Chevron
Challenger Energy announced that it completed the farm out of a 60% interest in its AREA OFF-1 block offshore Uruguay to Chevron, following approval from Uruguayan regulatory authorities.
ExxonMobil's output in Guyana hits record in September
ExxonMobil's offshore operations in Guyana continue to exceed expectations, with production reaching an average of 660,000 barrels per day, according to official figures.
Panama Canal eyes LNG traffic recovery after 65% plunge as drought restrictions end
The Panama Canal Authority (ACP) is working to restore vessel traffic for US liquefied natural gas (LNG) shipments to Asia, following a 65% drop in its second-largest transit segment and as water levels improve after a months-long drought.
Brazil's Ocyan names new chief executive
Brazilian oilfield services company Ocyan has announced that chief executive Jorge Mitidieri will step down, with Brazilian economist Luiz Reis taking over as CEO.
New Fortress Energy hits stride in Mexico FLNG operations
New Fortress Energy is cementing its position in the Americas' LNG market, with its innovative floating LNG facility off Mexico's Altamira coast achieving full production capacity
Mexico's exports stagnate following weak US manufacturing, oil volatility
Mexico’s exports reached $49.6bn in September, marking flat year-over-year performance as declines in oil and automotive shipments weighed on the overall export outlook
Vibra’s ‘Ba1’ rating held steady by Moody’s
Moody's has affirmed Vibra Energia's global credit rating at "Ba1" with a stable outlook. Analysts indicate that this rating reflects Vibra's status as Brazil's largest fuel distributor and its sufficient liquidity.
Pemex faces plunging output, budget cuts, and inefficiency issues
Petroleos Mexicanos (Pemex), Mexico's state oil company, is in crisis mode as it faces historic lows in oil production, severe budget cuts, and operational inefficiencies that are deepening its financial burden.
Argentina to become net energy exporter as investors bet on Vaca Muerta
Argentina is edging toward becoming a net energy exporter as the Vaca Muerta shale formation experiences rising investor interest.
SBM Offshore's Jaguar FPSO set to be modelled after Guyana's Liza Unity vessel
SBM Offshore's Jaguar FPSO project is advancing, the company confirmed, drawing on proven expertise from previous Guyana successes, including the Liza Unity FPSO, to advance production.
Suriname to halt borrowing against future oil reserves in growth push
Suriname's Finance Minister Stanley Raghoebarsing has ruled out additional borrowing against future oil revenues despite the nation's imminent emergence as a major South American energy producer.
Guyana's Yellowtail project on track for 2025 start-up
Guyana's oil production is set to reach unprecedented levels with the 2025 launch of the Yellowtail development, representing a $10bn investment by ExxonMobil and its Stabroek Block partners Hess and CNOOC.
Mexico sends oil aid to Cuba amid worsening power crisis
Mexico has dispatched another oil shipment to Cuba, where the island is grappling with a severe energy crisis.
Reliance Industries secures US sanction waiver to revive Venezuelan oil imports
Reliance Industries has received a temporary exemption from US sanctions, enabling the resumption of imports of Venezuelan extra-heavy crude, specifically the cost-effective Merey grade, to India
Arrest of former PDVSA chief clouds Venezuela-Curacao oil partnership
The recent arrest of former PDVSA president and minister Pedro Rafael Tellechea on alleged corruption charges has cast uncertainty over Venezuela’s energy ties with Curacao
SBM Offshore's Fast4Ward program driving Guyana's rapid oil expansion
SBM Offshore's Fast4Ward program is driving ExxonMobil's rapid expansion in Guyana's offshore oil sector, with three production vessels currently operating in the region.
Guyana announces power plant to boost natural gas reserves
Guyana is advancing ambitious plans to develop its natural gas reserves alongside its burgeoning oil sector, according to recent statements from President Irfaan Ali during a parliamentary address.
Venezuelan TV mogul charged in US with $1.2bn money laundering scheme
A Venezuelan television network owner has been indicted by a US federal grand jury for allegedly orchestrating a $1.2bn money laundering scheme involving Venezuela's state-owned oil company PDVSA.
Instability continues amongst Venezuelan government’s top oil officials
Pedro Tellechea, Venezuela's former oil minister and head of state oil company PDVSA, was arrested on October 20 along with several key associates, indicating a significant internal rift within Nicolás Maduro’s regime.
SBM Offshore subsidiary seeking natural gas sampling supplier for Guyana FPSOs
Guyana Deep Water Operations (GDO), a subsidiary of SBM Offshore, has issued a call for suppliers to provide natural gas sampling and Gas Chromatography solutions across its expanding FPSO fleet off Guyana's coast.
Guyanese government pressured over profit sharing as national oil revenue spikes
Guyana's oil revenue has surpassed $5bn since production began nearly five years ago, with the government withdrawing almost half of these funds for development projects, government data showed.
Argentine vice president emphasises importance of security in Vaca Muerta oil and gas development
Argentine Vice President Victoria Villarruel addressed the Argentina-Texas Energy Summit, stressing the importance of maintaining stability and protecting resources in Vaca Muerta's unconventional formation blocks.
Moody's updates Suriname credit rating due to rising oil development
Moody's Ratings has upgraded Suriname's credit rating following confirmations of major offshore oil development projects by international energy companies.
InterOil reports rising oil output in Argentina and Colombia
InterOil reported a significant rebound in its total operated production for September 2024, reaching 2,082 barrels of oil equivalent per day, marking an increase of 857 barrels per day from August's figures.
Venezuela faces uncertainty over BRICS bid amid Brazil’s resistance
Venezuela's aspirations to join the BRICS bloc face growing hurdles, with Brazil’s reluctance emerging as a key obstacle, despite Russia's earlier support.
Elliott warns Citgo value eroding as court weighs $7.3bn takeover bid
Elliott Investment Management is urging a US court to expedite its takeover bid for Citgo Petroleum, warning that the Venezuela-owned refiner's assets are losing value whilst creditors await a potentially superior offer that may never materialise.
Mexico set for energy shake-up under new President Sheinbaum
Mexico’s energy landscape is set for a major transformation as President Claudia Sheinbaum’s government seeks to balance the power of state-controlled companies with the need for private investment.
Constellation gets ‘B’ rating from Fitch, outlook stable
Fitch Ratings has assigned Constellation Oil Services Holding S.A. a Long-Term Foreign and Local-Currency Issuer Default Rating of 'B' with a Stable outlook.
ANP greenlights studies for three Santos Basin blocks off Brazil
Brazil's National Agency of Petroleum (ANP) has approved geological and economic studies for three exploratory blocks in the Pre-Salt of the Santos Basin — Quartz, Calcedonia and Opala.
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