LatAmOil - Latin America Oil & Gas

Petrobras gears up for Equatorial Margin exploration campaign, Rystad Energy notes

Brazil's Petrobras aims to replicate Guyana’s success at the Stabroek block by unlocking its Equatorial Margin with an exploration campaign beginning this year, says Rystad Energy.

Five European majors file injunction against Brazilian government’s new oil export tax

Five European majors have raised objections to the Brazilian government’s decision to impose a temporary tax on oil exports, filing an injunction in a bid to halt the policy change.

Guyana mulls another bidding round

Guyana’s Vice President Bharrat Jagdeo revealed last week that his country might carry out another offshore licensing round as early as next year.

LatAmOil: APA confident in potential of Block 58 offshore Suriname

Pemex seeks to overhaul ESG policy as it hunts for additional financing

Pemex is looking to overhaul its existing ESG policies as it seeks financing from major international banks.

Mexico increases imports of US-produced MTBE in 2022

Mexico increased the amount of MTBE imported from US producers last year, thereby increasing its reliance on its northern neighbour for octane enhancement programmes.

Petrobras standing on the cusp of change

Brazil’s Petrobras is set to start following a different course with respect to dividends, privatisation, fiscal policy and support for government policy under the Lula administration.

Hostages freed after protesters stage raid on Sinochem’s Capella A oilfield

Protesters seeking to draw attention to the poor state of roads in Colombia raided Sinochem's Capella A oilfield last week, taking more than 80 police officers and oil workers hostage.

Brazil’s oil and gas production rises above 4mn boepd in January

Brazil’s hydrocarbon production climbed to 4.175mn barrels of oil equivalent per day in January 2023, according to official ANP data.

Petroperu to restart oil production at Block 192

Peru’s national oil company Petroperu has signed an agreement that will allow it to resume crude oil production at Block 192, one of the country’s biggest hydrocarbon-bearing licence areas.

APA head confident in hydrocarbon potential of Block 58 offshore Suriname

John Christmann, the head of US-based APA Corp., has expressed his confidence in the hydrocarbon potential of Block 58 offshore Suriname, despite questions about when the block's operator might take an FID.

Petronas, YPF sign initial land lease deal on LNG project with Bahia Blanca port authority

Malaysia’s Petronas and Argentina's YPF have signed an initial land lease deal with the port of Bahia Blanca, a move that will allow them to move forward with a major LNG export project.

Petrobras says LNG imports fell sharply in 2022

Brazil’s national oil company Petrobras has announced that its LNG imports dropped sharply in 2022, sinking by 74% on the previous year.

Venezuela’s use of imported US naphtha rising as shipments of Iranian condensate decline

Venezuela has become increasingly dependent on naphtha imported from the US as a diluent for heavy crude oil as condensate shipments from have declined.

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.