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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Fitch upgrades Brazilian energy firm LXTE’s debentures following Energisa guarantee

7 January 2025

US credit rating agency Fitch has upgraded a debenture issuance by Brazilian energy transmission lines provider Linhas de Xingu Transmissora de Energia SA's (LXTE) after Energisa’s formal corporate guarantee.

Petrobras cancels deal to transfer stake in Uruguá and Tambaú fields to Brava Energia

7 January 2025

Petrobras announced that it has cancelled the contract to transfer its stake in the Uruguá and Tambaú oil fields to Brava Energia, the controlling company of Enauta Energia.

Brazilian NTS' monopoly, long-term contracts guarantee financial health, says Fitch

7 January 2025

Brazilian natural gas transportation provider Nova Transportadora do Sudeste S.A.'s (NTS) enjoys an enviable market position due to its monopoly where it operates and longer-term contracts without volume risk, said Fitch.

Petro-Victory signs exclusivity agreement for acquisition of oil fields in Brazil

7 January 2025

Petro-Victory Energy Corp. has entered into an exclusivity agreement with Brava Energia S.A. for the potential acquisition of 13 oil-producing fields in the Potiguar Basin, Rio Grande do Norte.

Brazil’s Marquise Ambiental to invest $65.4mn in biomethane projects

7 January 2025

Marquise Ambiental, Brazil’s third-largest waste management firm, plans to invest $65.4mn in five biomethane projects over the next three years

Petrobras grants PRIO access to gas infrastructure in Campos Basin

7 January 2025

Petrobras has finalised an agreement allowing PRIO to access the Campos Basin Integrated Natural Gas Flow System (SIE-BC) and the Cabiúnas Gas Treatment Unit (UTGCAB).

Delaware court relaunches CITGO auction amid creditor disputes

7 January 2025

A Delaware judge has ordered the reopening of the bidding process for Venezuelan refiner CITGO, intensifying efforts to resolve creditor claims against Venezuela.

ExxonMobil asserts right of first refusal over Guyanese asset amid Hess-Chevron deal

6 January 2025

ExxonMobil's top executives have defended their stance on maintaining right of first refusal in Hess Corp's Guyana oil assets sale, citing the company's significant role in developing the country's offshore fields.

Trump team divided over Venezuela policy as dual inaugurations near

6 January 2025

The incoming Trump administration has sent conflicting signals about its approach to Venezuela, as the appointment of prominent hawks to key positions appears to clash with suggestions of a more pragmatic stance towards Maduro's government.

Mexico's Carlos Slim invests $1bn in US oil and gas companies in 2024

6 January 2025

In 2024, Mexican billionaire Carlos Slim significantly increased his investments in the energy sector, purchasing shares in US oil and gas companies, including Talos Energy Inc. and PBF Energy Inc., totalling $1bn.

Pemex's debt crisis: Suppliers' payments delayed amid falling revenues

6 January 2025

Pemex, struggling with mounting debts, is under increasing pressure to address unpaid obligations to suppliers.

Venezuela's oil exports to US rebound amid market uncertainty

6 January 2025

Venezuela's crude oil exports to the United States rose sharply in October, reversing a two-month decline and easing concerns about a prolonged downturn

Mexico's oil crisis worsens as Pemex faces declining production and revenues

6 January 2025

Mexico’s state-owned oil company Pemex is grappling with a significant downturn in production and financial difficulties, raising concerns over the nation’s energy stability.

Guyanese crude production and sales grow for first 11 months of 2024

6 January 2025

ExxonMobil Guyana maintained steady production at its Stabroek Block operations in November 2024, reaching a cumulative output of 205mn barrels for the year at an average rate of 612,000 barrels per day.

Ecopetrol to fully acquire Repsol's stake in Colombia's CPO-09 block

6 January 2025

Ecopetrol has reached an agreement to purchase Repsol's 45% stake in block CPO-09, located in Colombia's Meta department, PR Newswire reported. This acquisition secures Ecopetrol full ownership of the asset, enhancing its position in the Llanos

Argentina's YPF to sell Brazilian lubricant subsidiary to Usiquimica

6 January 2025

Argentina's national oil company, YPF, announced the sale of its Brazilian lubricants subsidiary to local firm Usiquimica, marking a strategic shift in its international operations.

Guyana removes wrecks to improve waterway safety amid oil shipping boom

6 January 2025

Guyana has intensified efforts to remove shipwrecks from its waterways, addressing a decades-old navigation hazard as the country's oil sector continues to expand.

Suriname confirms new offshore project will be most expensive to date

6 January 2025

First-time oil producer Suriname has revealed that its Gran Morgu development could cost $13.2bn, making it the most expensive project in the prolific Guyana-Suriname basin to date.

ExxonMobil continues drilling at Haimara-3 well offshore Guyana

6 January 2025

ExxonMobil is advancing its gas exploration efforts in Guyana with ongoing drilling operations at the Haimara-3 well, following up on its significant 2019 Haimara-1 gas discovery.

Noble Corporation to drill three wells offshore Suriname

6 January 2025

Noble Corporation has secured a significant drilling contract with Petronas Suriname, deploying its high-specification semisubmersible rig Noble Developer for a three-well campaign offshore Suriname.

US LPG exports to Latin America set for growth in 2025

6 January 2025

US liquefied petroleum gas (LPG) exports to Latin America are expected to increase in 2025, driven by government initiatives to replace firewood with cleaner cooking fuels.

Brazil’s Eneva restores gas supply to major power plant

6 January 2025

Brazilian energy company Eneva has restored normal gas supply to its Porto de Sergipe I thermoelectric plant, resolving a disruption that had affected operations for nearly three months.

Seadrill secures $1bn in Petrobras drilling contracts

6 January 2025

Brazil’s national oil company (NOC) Petrobras has awarded two major ultra-deepwater drilling contracts to Seadrill, strengthening its offshore capabilities in the Santos Basin with a combined value exceeding $1bn.

Brazil’s Brava Energia stock jumps on FPSO start-up, approval to restart Papa-Terra oilfield

6 January 2025

Brazilian energy firm Brava Energia’s shares jumped up to 11.5% after receiving regulatory approval to restart production at its Papa-Terra oilfield and the start-up of its floating, production, storage, and offloading (FPSO) vessel Atlanta.

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