LatAmOil - Latin America Oil & Gas

Potential US sanctions on Venezuela prop up Colombia’s oil prices

The looming possibility of the US reinstating sanctions against Venezuela is bolstering the prices of Colombian oil of similar quality.

TotalEnergies aims to finalise investment decision for Block 58 offshore Suriname

TotalEnergies is gearing up to make a final investment decision for a major oil project in Block 58 off Suriname's coast by late 2024. The project is poised to become a cornerstone of the company's strategic initiatives in the region.

Argentina's Chubut governor threatens President Milei with cessation of oil production

Governor Ignacio Torres of Chubut province in Argentina issued an ultimatum to the Javier Milei administration, declaring that oil production would cease if the federal government continued to withhold essential financial resources from the provinces

Venezuela and Algeria forge gas sector collaboration amidst bilateral talks

Venezuelan Petroleum Minister Rafael Tellechea and President of Petróleos de Venezuela (PDVSA) convened with Algerian Energy and Mines Minister Mohamed Arkab in Caracas last week to explore collaborative ventures in the gas sector.

Venezuela seeks debt settlements from Chavez-era Petrocaribe scheme amid economic crisis

In a bid to address its financial woes amidst economic turmoil, Venezuela is pursuing debt repayments from the Petrocaribe programme, seeking to collect long-overdue dues from its struggling neighbours.

Pemex resumes payments to suppliers

Mexico’s state-owned energy major Pemex has reportedly resumed partial payments to suppliers, prioritising major oilfield service companies over smaller private producers.

Turkey's President Erdogan plans official visit to Venezuela, says foreign minister

Mexico's oil production reaches yearly low, Pemex fields contribute to decline

Mexico's oil industry began 2024 with the lowest crude oil and condensate production in a year, registering 1.88mn barrels per day, the lowest since December 2022.

Chubut governor threatens to halt oil exports if state funds withheld

Chubut Governor Ignacio Torres has warned Argentine President Javier Milei, that his province will cease oil exports if the federal administration continues to withhold a portion of co-participation funding.

Guyana VP rejects notion of sending Guyanese oil to Trinidad in regional energy security push

Guyanese Vice President Dr Bharrat Jagdeo has dismissed suggestions of sending a portion of the country's oil to Trinidad and Tobago for processing as part of a larger goal of securing regional energy security.

Guyanese crude debuts on Platts MOC process

Guyana’s crude made its debut in the Platts Market-on-Close (MOC) assessment process, marking a milestone in the country’s burgeoning oil industry.

Mexico’s Tamaulipas state, Geostock sign deal for gas storage system

ExxonMobil mulls standalone gas project in 2029

ExxonMobil Guyana's President, Alistair Routledge, has indicated that gas production in the Stabroek block might become a reality by 2029 or 2030, according to a recent Reuters report.

Pemex faces criticism over tax relief amid Supreme Court's call for asymmetric regulation

Mexico’s state-owned energy major Pemex is under scrutiny as it receives criticism over a tax relief program while the Supreme Court orders the reinstatement of asymmetric regulation to promote competition in the national fuel market.

Costa Rica debating legislation to ban oil and gas exploration

Costa Rica's Environmental Commission of the Legislative Assembly passed a bill on February 20 aimed at prohibiting the exploration and exploitation of gas and oil within the country

Dril-Quip awarded contract for Woodside Trion development offshore Mexico

Offshore drilling solutions provider Dril-Quip has been selected to provide subsea wellhead systems for the Woodside Trion development offshore Mexico, Energy-pedia News reported on February 26

Guyana's Gas-to-Energy project to spark larger gas development, ExxonMobil executive says

Guyana's strategic focus is increasingly turning towards its vast natural gas potential, marking a significant shift in the country's energy landscape, the Corporation's Upstream President, Liam Mallon noted.

Guyana VP stresses importance of clear regulation to drive oil sector growth

Guyana's Vice President, Bharrat Jagdeo, emphasised the criticality of maintaining a steady and transparent approach towards international oil companies to bolster the nation's burgeoning oil and gas industry.

Guyana's Gas-to-Energy project to deliver first power by H1 2025

During the Guyana Energy Conference and Supply Chain Expo, Government Consultant Winston Brassington asserted that the nation will harness reliable power from its gas-to-energy initiative by the first half of 2025.

LatAmOil: TotalEnergies views Guyana as model for cost savings in Suriname

Venezuela's PDVSA bonds plunge as New York court ruling casts doubt on validity

State-controlled Petroleos de Venezuela SA bonds plunged following a ruling by New York State's highest court that Venezuelan law will govern the validity of the debt.

IATA discusses with Brazil cabinet high aviation costs

Russia and Venezuela pledge closer ties in oil and gas, nuclear energy collaboration

Russian Foreign Minister Sergei Lavrov and his Venezuelan counterpart, Yvan Gil, affirmed their commitment to enhancing cooperation in oil and gas production and exploring the peaceful use of nuclear energy during a meeting in Caracas on February 20.

Petrobras returns Três Marias Block to ANP

Brazil’s state-owned energy major Petrobras, has opted to relinquish control of the Três Marias block, located in the pre-salt region of the Santos Basin, off the coast of Rio de Janeiro.

FPSO Bacalhau reaches milestone with topsides installation

Equinor, the Norwegian energy company, has achieved a significant milestone with the completion of the topside installation of the free-floating production storage and offloading platform Bacalhau.