LatAmOil - Latin America Oil & Gas

Guyanese crude prices slump as Libyan crude production recommences

The global oil market is witnessing significant shifts, with Guyanese crude prices falling to their widest differential against Argus North Sea Dated since assessments began in February.

Guyanese consortium awarded contract to audit Stabroek Block expenses

Guyana's government has awarded a $312mn contract to VHE Consulting, a local consortium led by Chartered Accountant Floyd Haynes, for the third cost oil audit of the Stabroek Block.

Guyanese oil output on track to reaching 2030 production goal

Guyana's oil production is set to surge to 1.5mn barrels per day (bpd) by 2030, President Irfaan Ali announced in a recent address to the Guyanese Parliament.

KBR wins engineering contract for Trinidad and Tobago gas field upgrade

KBR has secured an engineering and procurement services contract for the Beachfield Manatee upgrade, a crucial component of Shell's Manatee gas field project in Trinidad and Tobago.

Venezuela touts oil reserves in bid for BRICS membership ahead of Kazan summit

Venezuela is highlighting its vast oil reserves and strategic geographic position as key assets in its bid to join the BRICS group of emerging economies ahead of the bloc's summit in the Russian city of Kazan later this month.

ConocoPhillips reportedly secures US licences to pursue Venezuela debt recovery

US oil and gas giant ConocoPhillips has obtained a series of licences from the US government that could bolster its efforts to recover approximately $10bn owed by Venezuela, allowing it to seize money from state oil firm PDVSA's accounts worldwide.

Sheinbaum’s energy reform faces investment and trade risks

Mexico’s President, Claudia Sheinbaum, has pushed forward a controversial energy reform aimed at reasserting federal control over the nation’s key energy assets.

ExxonMobil drills new appraisal well for Guyana's upcoming Hammerhead project

ExxonMobil is currently drilling the Hammerhead-4 appraisal well offshore Guyana, a crucial step in advancing its Hammerhead development project slated for first oil in 2028.

ExxonMobil Guyana allocates $287 million for site restoration and decommissioning

ExxonMobil Guyana Limited has set aside $287mn for decommissioning and site restoration efforts by the end of 2023, according to company President Alistair Routledge.

ExxonMobil Guyana to relocate capping stack to Vreed-en-Hoop Shore Base

ExxonMobil Guyana announced plans to relocate its recently acquired capping stack from the Guyana Shore Base Inc to the Vreed-en-Hoop Shore Base Inc.

Ecopetrol's bond deal delayed as company opts for loan to tackle debt

Colombia's state-owned oil giant Ecopetrol has taken a significant step back in its financial strategy by postponing a $1.75bn bond sale aimed at funding a debt buyback.

Guyanese president announces Vision 2030 initiative ahead of elections

Guyanese President Irfaan Ali unveiled a series of economic measures ahead of the 2025 national elections, leveraging the country's newfound oil wealth.

ExxonMobil Guyana completes pipeline connection to FPSOs

Guyana's Gas-to-Energy project has reached a new milestone with the connection of a pipeline to two of Exxon Mobil's floating production platforms in the Stabroek block.

Oil and gas industry meeting called after death of worker in Vaca Muerta

Argentina's National Labor Secretariat has called an urgent meeting with the Private Oil and Gas Union of Río Negro, Neuquén and La Pampa, along with industry business chambers, following a worker's death in Vaca Muerta.

Compressor plant is online in Buenos Aires in major boost to Argentine gas transportation

The Salliqueló Compressor Plant in Buenos Aires province has commenced operations, marking a significant milestone in Argentina's gas transportation infrastructure.

Petrobras greenlights 10 new underwater vessels

Petrobras has approved the contracting of 10 new vessels for underwater operations, comprising eight ROV Support Vessels (RSV) and two Anchor Handling Tug Supply (AHTS) vessels, with a required minimum of 40% local content for their construction.

Petrobras to address safety concerns following worker fatalities

Brazil’s national oil company (NOC) Petrobras has scheduled a crucial meeting with union representatives to discuss safety policies following the deaths of two outsourced workers in early October.

Turkey and Brazil emerge as top buyers of Russian diesel

Turkey and Brazil have become the leading importers of Russian seaborne diesel and gasoil following the EU’s ban on Russian oil products.

LatAmOil: Petrobras confirms major gas discovery in Colombia

Indian refiners tap Venezuelan crude market

Two prominent Indian state refiners have secured substantial volumes of Venezuelan crude for November delivery

Venezuela and Saudi Arabia strengthen economic ties

Venezuela's Foreign Minister, Yván Gil, held meetings with Saudi Arabia's Ambassador to Venezuela, Abdullah Muhammad Al Saihani, to discuss expanding economic cooperation between the two nations

Vitol sells Venezuelan oil to India

Two state-owned Indian refiners have purchased 2mn barrels of Venezuelan crude oil from trading house Vitol for delivery in November.

Pemex to drill deepest well in history with $177mn investment

Petróleos Mexicanos (Pemex) is set to embark on its most ambitious deep-water drilling project to date, with plans to drill the Kuajtla 1 well in the Gulf of Mexico.

Indian firm Jindal scraps PDVSA oil upgrader deal in Venezuela

Indian conglomerate Jindal Power Ltd. has abandoned plans to revitalise a key Venezuelan oil facility under a partnership with state-owned energy company PDVSA.

Turkey, Brazil emerge as top importers of Russian diesel, gasoil in wake of EU ban

Turkey and Brazil have emerged as the top importers of Russian seaborne diesel and gasoil in the wake of the EU’s embargo on Russian petroleum products introduced in February last year.