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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Guyanese EPA confirms ExxonMobil's Hammerhead project on hold to review field development plan

13 November 2024

Guyana's Environmental Protection Agency issued a clarifying statement on November 11 following claims by local media that it was "moving ahead" with ExxonMobil's Hammerhead project.

S&P sounds alarm: Mexico’s 2025 budget faces debt, inflation and Pemex hurdles

13 November 2024

As Mexico prepares its 2025 budget under President Claudia Sheinbaum, S&P Global Ratings has signalled a cautious outlook, particularly regarding the country's debt management, inflation and the financial stability of Pemex.

Petroperu leadership crisis as business leaders demand competence over politics

13 November 2024

Peru’s business community is increasingly alarmed at the recent appointments to Petroperu's board, expressing doubts about the suitability of its new leaders amidst concerns over the company's deepening financial troubles.

Guyana emerges as key player in global FPSO boom

13 November 2024

A global surge in Floating Production Storage and Offloading (FPSO) projects is expected between 2022 and 2027, with 56 vessels set to commence operations worldwide, according to Rystad Energy.

Ecopetrol's stock in turmoil amid economic and political uncertainty

13 November 2024

Ecopetrol's stock has suffered a steep decline in 2024, facing pressures not solely from fluctuating oil prices but from mixed signals around corporate strategy.

Arrow exploration surpasses oil production targets in Colombia’s Llanos basin

13 November 2024

Arrow Exploration has announced successful production results from its latest drilling project in Colombia’s Llanos Basin, with its fifth horizontal well, CNB HZ-6, now in operation on the Carrizales Norte 'B' pad.

Argentina's Río Negro Province welcomes first unconventional well project

13 November 2024

Río Negro Province’s first unconventional well project in the Vaca Muerta formation has been inaugurated.

GeoPark starts production at Argentine block

13 November 2024

GeoPark has announced successful production commencement at the Confluencia Norte Block in Rio Negro, Argentina, marking a significant milestone in its Vaca Muerta formation partnership with Phoenix Global Resources.

Investors sue New Fortress Energy alleging violation of securities laws

12 November 2024

A class action lawsuit has been filed by investors against US firm New Fortress Energy (NFE), accusing the company of misrepresenting facts concerning its Fast LNG projects located offshore Altamira, Mexico.

ExxonMobil buys Guyanese FPSO Prosperity from SBM Offshore for $1.23bn

12 November 2024

ExxonMobil has completed the acquisition of the FPSO Prosperity from SBM Offshore in Guyana, with the Dutch vessel operator retaining operational and maintenance responsibilities up until 2033, according to a joint announcement from both companies.

Guyanese government determined to safeguard oil sector amid renewables transition

12 November 2024

Guyana’s government affirmed its commitment to developing its oil resources despite the global shift towards renewable energy investments, with government officials underlining the country's competitive advantages in the oil sector.

YPF strengthens foothold on Vaca Muerta as crude production soars

12 November 2024

YPF's unconventional crude production soared in the third quarter of 2023, marking a major milestone in Argentina's energy sector development.

YPF in talks with global oil majors to become partners in LNG export project

12 November 2024

Argentina's national oil company YPF is seeking new equity partners for its LNG export project amid uncertainty over Petronas's continued involvement, CEO Horacio Marin revealed.

Guyana confirms CGX Energy no longer in control of Corentyne Block

12 November 2024

A dispute over the ownership of Guyana's Corentyne Block has escalated as CGX Energy claimed operatorship in its Q3 2024 financial statements, directly contradicting statements from senior Guyanese government officials.

Touchstone Exploration reports successful well testing in Trinidad and Tobago

12 November 2024

Touchstone Exploration has reported successful completion of well testing at Cascadura-2ST1 and Cascadura-3ST1, with both wells demonstrating significant production potential.

Mexico’s energy strategy expands support for Cuba and renewable initiatives

12 November 2024

Mexico's government, under President Claudia Sheinbaum, has taken an assertive stance on energy reform, addressing both domestic and international needs.

PDVSA gas pipeline explosion injures five in eastern Venezuela

12 November 2024

A gas pipeline explosion at a Petroleos de Venezuela SA (PDVSA) facility in eastern Venezuela has left eight workers dead, , marking the latest in a series of accidents at the state-owned oil company's ailing infrastructure.

US extends Citgo protection amid legal disputes

12 November 2024

The US Treasury Department has extended a licence safeguarding Citgo Petroleum, the US subsidiary of Venezuela's state-owned oil giant PDVSA, from creditors until March 2025.

Russia and Venezuela sign cooperation deals on energy, intelligence, automotive industry

12 November 2024

Russia and Venezuela deepened their strategic partnership on November 7 by signing multiple agreements focused on energy cooperation and industrial development during the 18th High-Level Intergovernmental Commission meeting in Caracas.

YPF completes drilling of historic Vaca Muerta well

11 November 2024

Argentine national oil company YPF announced that it is completing the drilling of well LLL-1861(h) in Loma Campana in the Vaca Muerta formation with a record lateral branch of 4,948 metres and a total length of 8,264 metres.

Singapore-built FPSO Bacalhau ready for Brazil journey after naming ceremony

11 November 2024

The floating, production, storage and offloading (FPSO) vessel Bacalhau, set to be Brazil's largest FPSO, has officially been named at Seatrium's Tuas Boulevard Yard in Singapore, marking its imminent departure for South American waters

Fitch affirms Ecopetrol rating despite governance concerns

11 November 2024

Credit ratings agency Fitch has affirmed Colombian state oil company Ecopetrol's rating at 'BB+' with a stable outlook, whilst highlighting concerns about weakened corporate governance at Latin America's fourth-largest oil company.

US Treasury extends Venezuela oil sector licences linked with PDVSA

11 November 2024

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has extended two key licences governing transactions with Venezuela's state oil firm Petróleos de Venezuela, SA (PDVSA).

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