LatAmOil - Latin America Oil & Gas

LatAmOil: Pemex fails to uphold pledge to halt gas flaring at Ixachi field

Global energy sector emissions reach new high in 2022

Global energy-related CO2 emissions reached a new record in 2022 of 36.8bn tonnes, inching up 0.9% from the previous year’s level, the International Energy Agency reported last week.

T&T’s regional energy ambitions hit stumbling block

Guyana and Venezuela offer two different examples of responses to T&T's offer to use existing oil and gas infrastructure.

First LNG exports from Mexico’s Altamira site coming this summer, says New Fortress

First LNG from a floating LNG production unit offshore Altamira, Mexico should be achieved in July, management at New Fortress Energy revealed on February 28. The first of two “Fast LNG” (FLNG) liquefiers is about 80% finished.

Pemex fails to uphold pledge to halt gas flaring at Ixachi field

Mexico’s national oil company Pemex has failed to uphold its commitment to stop flaring at Ixachi, one of the country’s major natural gas fields, by mid-January of 2023.

Brazil gearing up for gradual re-introduction of taxes on gasoline, ethanol

Brazil’s government will re-introduce federal taxes on motor fuels this year in several stages, using a new formula that will raise BRL28.8bn ($5.51bn) in budget revenues.

Petroecuador hopes to wrap up repair work on SOTE system quickly

Petroecuador reported on February 27 that it expected to wrap up repair work on the Trans-Ecuadorian Oil Pipeline System (SOTE), one of the country’s main crude transportation networks, the following day.

Brazilian independent Seacrest raises $260mn via IPO in Norway

Seacrest Petróleo, a Brazilian independent, has successfully raised $260mn via an initial public offering (IPO) on the Oslo Stock Exchange in Norway.

Guyana considers extending offshore bidding round deadline, minister says

Guyana’s first competitive bidding round has attracted considerable attention, with more than 20 international oil companies (IOCs) expressing interest in the 14 blocks on offer.

SBM Offshore confident of ability to deliver FPSOs to Guyana, Brazil on schedule

SBM Offshore still expects to deliver FPSO vessels for a number of South American projects on schedule despite disruptions to its schedule.

Venezuelan oil output rising but could run up against constraints soon

Venezuela’s oil output has risen since the US government began easing trade sanctions late last year, but it may not be able to go much higher due to logistical and structural constraints on output capacity.

Pemex reportedly in talks with Goldman Sachs, JPMorgan Chase on $1bn in financing

Mexico’s national oil company Pemex is reportedly in negotiations with Goldman Sachs Group and JPMorgan Chase over financing deals worth a combined $1bn.

Petrobras sets record for CCUS gas re-injection in 2022

Brazil’s Petrobras set a record in carbon dioxide capture, use and geological storage in 2022, reaching a volume of 10.6mn tonnes per year re-injected, equivalent to 5.8bn cubic metres of CO2.

Lack of low-emission, low-cost oil and gas puts energy transition at risk: WoodMac

LatAmOil: Guyana’s economy to grow 25% per year thanks to oil sector

Pemex reportedly looking to pay off debts with its own funds rather than turning to investors

Mexico’s national oil company Pemex is looking to pay off its debts using its own funds instead of turning to investors, two sources familiar with the matter confirmed.

Karoon Energy to drill second control well at Neon field offshore Brazil

Australia’s Karoon Energy will drill a second control well, Neon-2, at the Neon discovery in the Santos basin after achieving positive preliminary results at its first control well, Neon-1.

Filling in the empty spaces at Stabroek

As Guyana’s government makes plans to reclaim 20% of the country’s only producing block, ExxonMobil looks into using the isolated Ranger oilfield as the basis for a new development project.

Head of VEHSI talks up benefits of Guyana’s new offshore oil and gas service base

Vreed-en-Hoop Shore Base Inc. (VEHSI), a joint venture established by Guyanese and Belgian investors, expects the service base it is building to reduce the cost of delivering supplies for offshore oil projects by 12%.

Challenger Energy set to wrap up first-phase work programme at AREA OFF-1 in Q2 2023

AIM-listed Challenger Energy is on track to wrap up its work programme for the first four-year period of its exploration licence for the AREA OFF-1 block offshore Uruguay during the second quarter of 2023.

Maxar to provide satellite monitoring services to prevent oil spills offshore Guyana

US-based Maxar Technologies has signed a three-year deal with Guyana’s Ministry of Natural Resources (MNR) for remote monitoring services to limit the negative environmental impact of offshore oil projects.

Guyana’s government talks up financial advantages of GTE payment deal

Guyana’s government has indicated that it sees the agreement that it has struck with ExxonMobil on covering the costs of the Gas-to-Energy (GTE) project as very advantageous.

Oil sector expected to trigger 25% economic growth in Guyana for the next three to four years

Guyana’s Finance Minister Ashni Singh stated on February 16 that his government expects national economic growth to average at least 25% over the next three to four years.

Chevron to deliver eight cargoes of Venezuelan oil to US this month

The US major Chevron is on track to send eight cargoes of Venezuelan crude oil to the US in February, with delivery volumes averaging more than 100,000 barrels per day.

Argentina’s National Congress delays debate of LNG bill

Argentina’s National Congress will debate a draft law designed to encourage investment in natural gas and LNG projects in March, a source in the country’s Energy Secretariat told Reuters.