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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Brazil's LPG firms oppose price controls in social gas plan
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
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
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
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
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
OPEC+ has further delayed its plan to ease oil production quotas
Petrobras chair may exit, Senate blocks next move
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
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
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
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
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
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
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
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.
Petrobras CEO seeks aggressive expansion, oil and gas output declined in October
Brazil's state-controlled oil producer Petrobras aims to expand significantly to ensure its long-term future, said CEO Magda Chambriard.
Brazil expands permanent oil block offerings adding 91
Brazil's government has announced plans to add 91 oil exploration blocks to its permanent offer system, potentially generating BRL2.4bn reais ($394mn) in signature bonuses during the next bidding round,
Venezuela’s 2025 budget reflects modest growth following oil revenue uncertainty
While marking a slight increase, the budget remains far below the $114.108bn Venezuela allocated in 2015, during its oil-boom years.
Petrobras CEO seeks aggressive expansion
Petrobras aims to expand significantly to ensure its long-term future, CEO Magda Chambriard told the Financial Times.
Petrobras output falls 11% in October
Brazil's state-controlled oil producer Petrobras reported an 11% decline in oil and gas output in October compared to the same period in 2023, according to data from the national oil regulator ANP.
Ecopetrol prioritises green hydrogen and exploration in 2025 plans
Colombia’s state-owned energy giant, Ecopetrol, has unveiled an ambitious strategy for 2025, emphasising its dual focus on traditional hydrocarbon production and green energy projects.
Venezuela oil exports near 1mn bpd mark, highest since 2020
Venezuela's crude and refined products exports surged to 974,033 barrels per day in November, approaching levels not seen since early 2020, despite ongoing US sanctions and infrastructure challenges.
Guyana's crude production averages 608,000 barrels per day as ExxonMobil achieves offshore record
ExxonMobil's crude oil production at the Stabroek Block averaged 608,000 barrels per day in the first 10 months of 2024, with the company's Payara project achieving the fastest ramp-up in the history of deepwater operations.
Petrobras begins sale process for minority stake in Sergipe field
Brazil's national oil company (NOC) Petrobras has launched the initial stage of selling its 25% stake in the Tartaruga shallow-water field, located in Sergipe state.
EY, PwC analysts expect Argentina's RIGI initiative to boost foreign investment
Argentina's latest bid to attract foreign investment through the RIGI incentives package has shown early promise but faces significant hurdles, according to industry experts.
Harbour Energy acquires stake in Argentina's first LNG project
British energy firm Harbour Energy has acquired a 15% stake in Argentina's first LNG export project, which will feature a floating liquefaction vessel in Río Negro's San Matías Gulf.

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