LatAmOil - Latin America Oil & Gas
Trump wins the election but US oil supply unlikely to rise, says analyst
Ex-president Donald Trump may have won the US election, but the country’s oil supply is unlikely to increase. This is according to Anne-Sophie Corbeau, BP’s former head of gas analysis in an interview on the eve of the vote.
Guyana and Suriname emerging as major global LNG players, Wood Mackenzie report indicates
Guyana and Suriname could emerge as significant players in the global LNG market, with potential annual production reaching 12 million metric tonnes by the next decade, according to a new Wood Mackenzie report.
Guyana threatening OPEC's oil market share; S&P reports
Guyana and other non-OPEC oil producers are poised to intensify competition with OPEC for global market share in 2025, according to a recent analysis from S&P Global Commodities at Sea.
Norway's Argeo secures data services agreement with Suriname's Staatsolie for offshore projects
Norwegian subsea services provider Argeo signed an eight-year agreement with Staatsolie, Suriname's national oil company, for the provision of comprehensive multiclient data services in Suriname's offshore waters.
Argentine natural gas infrastructure boosted by Northern Natural Gas Pipeline
Argentina marked a significant milestone in its energy sector with the inauguration of the Northern Natural Gas Pipeline, a $710mn project that will transport natural gas from the Vaca Muerta shale formation in Neuquen province.
Pan American Energy weighs investment in sustainable aviation fuel production in Argentina
Brazil’s oil regulator mulls adding deep-water blocks to permanent concession offer
Brazil's oil and gas regulator the National Petroleum Agency (ANP) has approved the study of 25 new exploratory blocks for potential inclusion in the Permanent Concession Offer (OPC).
Petrobras Q3 profits expected to rise despite lower oil prices
Petrobras is expected to report higher third-quarter net profit and revenue despite weaker oil prices and production volumes.
Energy industry must drive sustainable socio-economic growth: ADIPEC
The global energy industry must drive the next phase of sustainable socio-economic growth, UAE Industry Minister and CEO of the country’s national oil company ADNOC, Sultan Ahmed Al Jaber, said at the ADIPEC conference in Abu Dhabi on November 4.
Turkish national arrested in Miami over Venezuelan oil sanctions-evasion plot
US authorities have arrested a Turkish businessman in Miami for allegedly orchestrating a complex scheme to evade sanctions on Venezuela's state-owned oil company PDVSA, the Justice Department said on November 4.
Mexico’s energy independence push falls short as Pemex production lags
Mexico's outgoing administration under former President Andrés Manuel López Obrador leaves behind an unfinished ambition of fuel self-sufficiency, with stark gaps between its targets and the actual output of state-owned oil giant PEMEX.
Venezuela’s oil exports surge to four-year high as production and US, India sales climb
Venezuela’s oil exports reached a four-year peak in October, nearing 950,000 barrels per day (bpd) thanks to increased crude production and higher sales to India and the United States, according to shipping data and reports from state firm PDVSA.
Venezuelan deputy considers new hydrocarbons code to boost private investment in oil sector
Petrobras invests in Campos Basin amid Foz do Amazonas licence delay
The Campos Basin, once Brazil’s top oil-producing region, marks 50 years since discovery and is set to play a key role in Petrobras' growth plans, said Magda Chambriard, president of the state-owned oil company.
Sheinbaum revamps Mexico’s energy sector amid soaring violence and judiciary reforms
Mexico's new president, Claudia Sheinbaum, has swiftly enacted significant reforms that declare that Pemex and the Federal Electricity Commission (CFE) are state-owned entities once more, following legislative approval.
Guyanese vice president reveals that government moving to close tax loophole exploited by oil companies
Guyana's government is moving to close a significant tax loophole being exploited by companies in the oil sector, Vice President Dr Bharrat Jagdeo announced.
SBM Offshore introduces new FPSO for Brazilian exploration
SBM Offshore announced the integration of the FPSO Almirante Tamandaré into its fleet, marking a significant milestone in Brazil's offshore energy sector.
ExxonMobil Guyana reports surge in crude oil production, hitting peak since 2011
ExxonMobil reported a 60% y/y surge in crude oil production offshore Guyana during the third quarter, contributing to its highest overall production rate since 2011 at 4.6mn oil-equivalent barrels per day.
Developmental drilling underway at Guyana's Whiptail development
Guyana's oil sector continues to expand as the Noble Don Taylor drillship undertakes development drilling at the Whiptail well site in the prolific Stabroek Block.
BP signs global agreement with Subsea Integration Alliance
Energy major BP has established a global frame agreement with Subsea Integration Alliance, a partnership between SLB's OneSubsea and Subsea7, to enhance collaboration on future subsea projects
ExxonMobil sells majority of Vaca Muerta shale assets to Pluspetrol
ExxonMobil has reached an agreement to sell the majority of its Vaca Muerta shale assets to Pluspetrol SA, according to sources familiar with the negotiations.
OPEC output rises despite Iraqi cuts as unwinding is pushed back
has pushed back its planned easing of output cuts to the end of the year, just as production has risen despite Iraq’s compensatory efforts
SBM Offshore's FPSO starts production at Brazil's Mero Field
Shell Brasil has announced the start of production at the floating, production, storage and offloading (FPSO) vessel Marechal Duque de Caxias (Mero-3) in Brazil's pre-salt Santos Basin
Transition Industries secures pact with Mitsubishi Gas for ultra-low carbon methanol supply
Transition Industries has signed a letter of intent (LoI) with Mitsubishi Gas Chemical Company (MGC) for a long-term supply agreement aimed at delivering 1mn tpy of ultra-low carbon methanol from its upcoming Pacífico-Mexinol facility in Sinaloa.
Global oil supply to see major glut next year: World Bank
Global commodity prices are on track to slump to a five-year low next year, with an oil glut emerging so large that it will largely negate the impact of the Israel-Palestine war escalating into a regional Middle Eastern conflict.
Suriname oil boom expected as Block 58 project set to begin
Suriname's oil sector is poised for significant growth, with the Block 58 project expected to yield approximately 700mn barrels of recoverable resources from the Sapakara South and Krabdagu fields.
Guyana's oil production slumps amid ExxonMobil temporary shutdown
Guyana's oil production declined 11% in Q3 2024 following ExxonMobil's temporary shutdown of two production vessels to facilitate a new gas-to-shore pipeline connection.
Suriname to hold off on new IMF programme ahead of oil and gas project
Suriname's government has announced it will postpone decisions on future International Monetary Fund programme involvement until after the May 2025 general election, as it evaluates strategies for managing anticipated oil revenues.
CNOOC reports record-breaking financial performance driven by Guyanese operations
CNOOC Limited reported a record-breaking financial performance in the third quarter of 2024, with unprecedented net production and profit levels largely attributed to successful projects, including the Payara development in Guyana.
Hess beats Q3 profit estimates, helped by rising Guyanese oil production
Hess Corp exceeded third-quarter profit expectations with earnings of $2.14 per share, largely driven by increased oil production in Guyana.
Karoon powers up Bauna production in Brazil
Karoon Energy reported a rise in oil output from its Baúna Project in Brazil, producing 1.99mn barrels in Q3, up 44% from the previous quarter.
Petrobras reports Q3 production struggles due to maintenance
Petrobras reported a 6.6% decline in oil and gas production for the third quarter, with CEO Magda Chambriard attributing the drop to the natural decline of fields and scheduled maintenance in July-September.
Peru to streamline environmental permits for hydrocarbon exploration
The Ministry of Energy and Mines (Minem) is set to reduce the lengthy environmental permitting process for oil and gas exploration in Peru, potentially cutting approval times by up to two years.
Colombia's gas and oil sectors face critical developments
The future of Colombia's gas supply has received a significant boost with the resumption of activities at the Sirius gas well, previously known as Uchuva-2.
Borders & Southern Petroleum secures Falkland Islands production licence extension
Borders & Southern Petroleum announced that it has secured a two-year extension for its production license in the Falkland Islands, pushing the expiry date to December 31, 2026.
Mexico Pacific set to transform energy landscape with major LNG investment
Mexico Pacific is gearing up for a significant investment decision in 2025 regarding its Saguaro Energía LNG project on the Pacific Coast.
Mexico increases fuel imports from the US as refinery operations decline
Mexico is increasing its imports of gasoline and diesel from the US Gulf Coast as the holiday season approaches, indicating a likely reduction in domestic refinery activity.
Bolivia transport chaos sparks threats to seize YPFB amid fuel crisis
The ongoing fuel crisis in Bolivia has sparked unrest among transport workers, who threaten to seize YPFB’s oil fields if the situation is not resolved swiftly.
Fitch affirms Argentine energy firm PCR's rating at 'B-' on Ecuador diversification
Fitch Ratings has affirmed Argentine energy company Petroquimica Comodoro Rivadavia's (PCR) credit rating at 'B-' with a stable outlook, citing its growing Ecuadorian operations as a partial hedge against Argentine risks.
YPF to sell Metrogas stake to focus on Vaca Muerta development
Argentina's national oil company YPF announced plans to divest its 70% stake in cooking gas distributor Metrogas, with proceeds to be redirected toward developing the Vaca Muerta shale formation.
YPF creates subsidiary Argentina LNG
Argentine national oil company YPF has established Argentina LNG, a new subsidiary aimed at developing a liquefied natural gas plant in Río Negro to capitalise on the vast reserves of the Vaca Muerta's shale formation.
SBM Offshore's role in Guyana's rapid oil expansion
SBM Offshore's Fast4Ward programme is driving ExxonMobil's rapid expansion in Guyana's offshore oil sector, with three production vessels currently operating in the region, chief executive officer Øivind Tangen stated in an interview.
Argentina seeks to become net energy exporter buoyed by Vaca Muerta
Argentina is edging toward becoming a net energy exporter as the Vaca Muerta shale formation attracts rising investor interest. It is the world's fourth-largest shale oil deposit and the second-largest shale gas resource.
Petrobras’ FPSO Marechal Duque de Caxias connects to first well
Brazil’s national oil company (NOC) Petrobras has completed connection of the first production well to the floating, production, storage and offloading (FPSO) vessel Marechal Duque de Caxias at the Mero field in the Santos Basin's pre-salt area
FPSO Almirante Tamandaré reaches Brazil for Búzios Field deployment
The FPSO Almirante Tamandaré has reached Brazilian waters after departing China's CMHI shipyard on July 31.
Maduro calls for prosecution of opposition leaders over Citgo case
Venezuelan President Nicolás Maduro has demanded the capture and prosecution of opposition leader María Corina Machado and other political rivals, accusing them of corruption tied to Venezuela’s US-based oil subsidiary, Citgo.
Petrobras drills well at Buzios Field nearly 2,000 metres deep
Brazil’s national oil company (NOC) Petrobras has commenced drilling a new special purpose well in the Buzios Field using the Carolina drillship at a water depth of 1,939 metres.
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