LatAmOil - Latin America Oil & Gas

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Oil & Gas

Region: Latin America   Category: Oil & Gas Frequency: Every Tuesday

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LatAmOil provides oil and gas Insight and Foresight from Mexico and Central America to the Caribbean and South America. From the heavyweight producers such as Brazil to emerging frontiers like Guyana, LatAmOil informs you of what is going on and why through commentary, exclsuive interviews, news and analysis. In such a notoriously challenging environment, in-depth and accurate information makes every difference in vital decision making and strategy – LatAmOil brings this directly to your inbox every week.

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Colombia energy groups seek urgent talks as 2025 subsidy funding at risk

17 December 2024

Six energy industry associations in Colombia are urging urgent meetings with the ministers of Finance and Mines and Energy to address funding shortfalls for subsidies and tariff options, raising concerns over the sector's outlook for 2025.

Pluspetrol completes acquisition of ExxonMobil's Vaca Muerta assets in Argentina

17 December 2024

Pluspetrol has completed its 100% acquisition of ExxonMobil Exploration Argentina SRL (EMEA), thereby reshaping the entire ownership landscape of Argentina's Vaca Muerta formation.

TotalEnergies renews Brazil offshore helicopter deal

17 December 2024

TotalEnergies has extended its contract with Brazil's Omni Táxi Aéreo to support operations at the Lapa field in the Santos Basin for another five years, the companies confirmed.

Suriname finance minister lays out terms for oil royalty payouts

17 December 2024

Suriname plans to leverage its future oil royalties to formalise its informal economy, Finance Minister Stanley Raghoebarsing announced, revealing that payments will be restricted to residents registered in the tax system.

YPF launches Real-Time Operations Center to optimise oil drilling operations in Argentina

17 December 2024

YPF, Argentina's national oil company, has launched a Real-Time Operations Center in its Buenos Aires headquarters, aiming to optimise drilling and well completion operations in Vaca Muerta through data-driven decision-making.

ExxonMobil makes just one offshore discovery in Guyana in 2024

17 December 2024

ExxonMobil Guyana added just one new discovery to its extensive Stabroek Block portfolio in 2024, with the Bluefin-1 well representing the company's sole exploration success for the year.

Pemex's credit rating affirmed at 'B+' with stable outlook

17 December 2024

Fitch Ratings has maintained Petroleos Mexicanos' (Pemex) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'B+', with a stable outlook.

Colombia's Parex Resources strengthens alliance with Ecopetrol and announces operational updates

17 December 2024

Parex Resources has expanded its collaboration with Colombia’s state-owned oil company Ecopetrol, securing agreements for a 50% working interest in four blocks within the Putumayo basin and the Farallones block.

Colombia seeks to speed up offshore gas production amid supply concerns

17 December 2024

Colombia aims to accelerate gas production from its largest deepwater discovery as it prepares for a potential natural gas shortfall in the coming years.

Colombia warns of energy subsidy crisis after tax reform collapse

17 December 2024

Colombia's Ministry of Mines and Energy has warned of potential disruption to gas and electricity subsidies following the failure of the Financing Law in Congress

Norway’s Kongsberg to deliver hybrid supply vessels for Petrobras offshore operations

17 December 2024

Kongsberg Maritime will provide design and technology for six hybrid platform supply vessels to support Brazil’s national oil company (NOC) Petrobras offshore operations after signing a contract with Monaco-based Compagnie Maritime Monegasque (CMM)

Venezuela's gas shortage forces families to rely on firewood

17 December 2024

The worsening shortage of domestic gas in Venezuela has pushed many families to rely on firewood for cooking, particularly in Táchira state. Local officials are urging the government to allow residents to purchase gas from neighbouring Colombia.

Offshore oil is "the new shale", says Kpler analyst

16 December 2024

Offshore oil production “is the new shale,” set to drive future output gains, says Viktor Katona, head of oil analysis at global trade intelligence firm Kpler.

ExxonMobil seeks to safeguard right of first refusal for Guyana block in Hess Corp. sale to Chevron

16 December 2024

ExxonMobil has reinforced its stance on preserving the right of first refusal in Hess Corp's Guyana oil assets, with top executives underlining the company's pivotal role in developing the country's offshore fields.

ExxonMobil Guyana targets Longtail field as its next offshore development

16 December 2024

ExxonMobil Guyana has identified the Longtail field as its next development target following the Hammerhead project, according to company President Alistair Routledge.

ExxonMobil seeks rapid oil expansion in Guyana, raising 2030 output target

16 December 2024

ExxonMobil is looking to ramp up its expansion plans for its Guyana operations, targeting a production capacity of 1.7mn barrels per day of oil by 2030.

Guyana expected to postpone next oil auction until November 2025 election

16 December 2024

Guyana's anticipated second offshore oil block auction will likely be postponed until after the November 2025 general election, according to Vice President Bharrat Jagdeo.

Trinidad’s Atlantic LNG ships first two cargoes since completing restructuring

16 December 2024

Trinidad and Tobago’s National Gas Co. (NGC) has exported the company’s first two LNG cargoes from Trains 2 and 3 of its Atlantic LNG terminal since the facility was restructured in December 2023.

CGX Energy and Guyana lock heads over Corentyne Block licence

16 December 2024

A dispute has raged between Guyana's government and CGX Energy regarding the status of the company's Corentyne Block licence, with both sides maintaining opposing positions on the license's validity.

Venezuela’s oil output declines amid push for foreign investment

16 December 2024

Venezuela’s crude oil production fell to an average of 960,000 barrels per day in November, marking a 2.9% decline from October’s 989,000 b/d, according to the latest report from the OPEC.

Petrobras orders 12 support vessels in $3.3bn fleet modernisation drive

15 December 2024

Brazil's national oil company (NOC) Petrobras has awarded contracts worth BRL16.5bn ($3.3bn) to construct and charter 12 Platform Supply Vessels (PSVs), with BRL5.2bn reais allocated for domestic shipbuilding.

Petrobras taps SLB for subsea boosting in Búzios

15 December 2024

SLB has announced that its OneSubsea joint venture has secured a contract from Petrobras to supply two subsea raw seawater injection (RWI) systems for the Búzios field.

Fitch raises Brazil's PRIO’s national scale rating to ‘AAA(bra)’

15 December 2024

The upgrade reflects the addition of a 40% stake in the Peregrino field, which boosts PRIO's proven reserves by 18% and increases production capacity by 42%.

Petrobras pushes for gas market commitment

15 December 2024

Petrobras President Magda Chambriard has reaffirmed the state-owned company's efforts to increase Brazil’s gas supply, but stressed that market demand is essential for advancing projects.

Brazil's Petrobras awards SLB OneSubsea contract for Búzios field enhancement

15 December 2024

OneSubsea, a joint venture between SLB, Aker Solutions and Subsea7, has won a competitive tender from Brazil’s national company (NOC) Petrobras to supply two subsea raw seawater injection (RWI) systems for the deepwater Búzios field offshore Brazil.

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