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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Argentine energy sector to generate $25bn annual surplus by 2030, recent report finds

10 December 2024

Argentina's hydrocarbon sector is poised for substantial growth, with the Chamber of Exploration and Production of Hydrocarbons forecasting an annual energy balance surplus of $25bn by 2030, according to a recent sector analysis.

YPF shares surge amid hopeful economic outlook

10 December 2024

YPF shares have surged 132% in 2024, climbing from $25.37 to $38.39 since November 1, driven by the government's macroeconomic policies and the company's strategic 4x4 program, according to CEO Horacio Marín.

Venezuela plans to up production of natural gas liquids to boost energy exports

10 December 2024

The Venezuelan government is exploring plans to ramp up production of natural gas liquids following a technical review of a key Petróleos de Venezuela (PDVSA) facility in the country's northeast.

Chevron CEO warns of Russia-China takeover risk in Venezuela if forced to quit

9 December 2024

Chevron Corp. has not discussed its Venezuela operations with President-elect Donald Trump's team, chief executive officer Michael Wirth said on December 6, highlighting uncertainty over the oil giant's future in the sanctions-hit country.

Petroperú's risky bid for oil lots sparks controversy amid crisis

9 December 2024

Petroperú, struggling with significant financial difficulties, has expressed interest in directly acquiring oil lots I and VI in Talara.

Brazil’s cabinet appoints Petrobras’ chairman to senior role at crude, gas regulator

9 December 2024

Brazil's Energy Ministry has appointed the national oil company Petrobras’ chairman Pietro Mendes to a senior position at oil and gas regulator ANP, potentially triggering board changes.

Brava Energia awards Brazil offshore contracts to Baker Hughes, OneSubsea, and Constellation

9 December 2024

Brava Energia, formerly 3R Petroleum, has awarded contracts to Baker Hughes, SLB's OneSubsea, and Constellation Oil Services for an integrated development campaign across offshore oil fields in Brazil,

Guyana holds no ExxonMobil ownership, vice president confirms

9 December 2024

Guyana's Vice President, Dr Bharrat Jagdeo, has clarified that the government does not hold any ownership stake in ExxonMobil Guyana Limited or its assets, including the recently purchased Floating Production Storage and Offloading vessels.

Brazil prosecutors seek further studies for Petrobras Amazon oil project

9 December 2024

Federal prosecutors have requested Brazil’s national oil company (NOC) Petrobras conduct further environmental studies before proceeding with offshore drilling near the Amazon rainforest.

Vaca Muerta oil and gas investments expected to rise above $9bn over the next year

9 December 2024

Investment confidence in Neuquén's hydrocarbon sector continues to strengthen, with projected investments exceeding $9bn for Vaca Muerta operations in the coming year, following a record-breaking 2024 production period.

Argentine oil production hits record average in October

9 December 2024

Argentina's oil production reached a new milestone in October, with output averaging 742,754 barrels per day, according to data from the National Energy Secretariat.

Brazil's LPG firms oppose price controls in social gas plan

9 December 2024

Brazil's liquefied petroleum gas (LPG) industry group Sindigas has raised concerns about proposed price controls in the country's "Gas for All" programme, which aims to expand LPG access to low-income households

Petrobras hires OneSubsea to install water injection systems to cut emissions

9 December 2024

Brazil’s national oil company (NOC) Petrobras has awarded OneSubsea a contract to install subsea water injection systems at two floating, production, storage and offloading (FPSO) vessels in the Buzios pre-salt field.

Petrobras cuts $1.1bn from platform decommissioning plan

9 December 2024

Brazil’s national oil company (NOC) Petrobras has reduced its platform decommissioning budget by $1.1bn in its latest five-year strategic plan, scaling back the number of units to be retired through 2029,

TechnipFMC installs subsea equipment for offshore Guyana development

9 December 2024

TechnipFMC has marked its first installation of Subsea 2.0 equipment in Guyana's waters for the Uaru offshore development.

Colombia’s Promigás issues $122mn in social bonds to expand financial inclusion scheme

9 December 2024

Promigás, together with Surtigás and Gases de Occidente, has announced the issuance of $122.5mn in social bonds to bolster its Brilla programme, which provides credit access to underserved Colombian households.

OPEC+ extends delay to easing restrictions

8 December 2024

OPEC+ has further delayed its plan to ease oil production quotas

Petrobras chair may exit, Senate blocks next move

7 December 2024

President Luiz Inácio Lula da Silva is evaluating leadership changes at Petrobras and the National Petroleum Agency (ANP), key to Brazil's fuel policy, prompting a decline in Petrobras shares.

Oil set to top soybeans as Brazil's leading export

7 December 2024

Oil is poised to surpass soybeans as Brazil’s leading export in 2024, marking a first since trade balance records began in 1997.

ExxonMobil Guyana to bolster fabrication, machining and repair services for oil and gas operations

6 December 2024

ExxonMobil Guyana has unveiled plans to expand local fabrication, machining and repair services to support its growing offshore operations as the company seeks to reduce dependency on overseas services and strengthen local business capabilities.

ExxonMobil, Hess, CNOOC continue negotiations with Guyanese government for development of block S8

6 December 2024

ExxonMobil and its partners are in ongoing negotiations with Guyana's government regarding the development of shallow-water oil block S8, an Exxon spokesperson confirmed.

ExxonMobil proceeds with exploration drilling at Guyanese well

6 December 2024

ExxonMobil is progressing with exploration drilling at the Lau Lau-2 well in Guyana's Stabroek Block, with operations scheduled to conclude by December 31, 2024.

Spain’s Venezuelan crude imports surge to highest level in over 15 years

5 December 2024

Spain has significantly increased its imports of Venezuelan crude oil in 2024, reaching 2.6mn tonnes as of November, marking the highest volume since 2006.

Petrobras initiates tender competition for twin FPSOs destined for Brazil

5 December 2024

Brazil's national oil company (NOC) Petrobras has launched a procurement exercise to obtain two additional floating production, storage and offloading (FPSO) vessels, destined for installation in the Sergipe Alagoas Basin

Argentina’s YPF enters into landmark floating LNG project with Golar LNG, Pan American Energy

5 December 2024

Argentina's state energy firm YPF has entered into a landmark $3bn floating LNG project alongside Golar LNG and Pan American Energy, marking a significant expansion of the country's LNG export capabilities.

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