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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Colombia's Ecopetrol to import gas from Venezuela in 2024 to cover 8% supply shortfall
Ecopetrol, Colombia's state oil company, is set to import 100mn cubic feet per day of gas from Venezuela starting next year to bolster national hydrocarbon supply, addressing an anticipated 8% shortfall.
Norway's Equinor fails to find oil or gas in maiden Argentine offshore well
Equinor's first offshore well in Argentina, Argerich-1, has come up dry, dashing hopes for a major oil find in the CAN-100 block.
Mexico faces unprecedented gasoline and diesel prices
Mexico is experiencing a historic surge in gasoline and diesel prices, influenced by lower tax deductions, international market fluctuations, and a depreciating peso.
CGX Energy and Frontera Energy advance efforts to unlock Guyana's hydrocarbon potential
Canadian firms CGX Energy and Frontera Energy are intensifying efforts to unlock the hydrocarbon potential of the Corentyne block offshore Guyana.
CGX Energy and Frontera Energy plan to retain Corentyne Block
CGX Energy and Frontera Energy have announced their intent to retain the Corentyne Block offshore Guyana. Without government approval, the companies risk losing the acreage.
Hammerhead announced as ExxonMobil's seventh Stabroek development offshore Guyana
ExxonMobil announced Hammerhead as its seventh project in Guyana's Stabroek Block, subsequently filing for environmental authorisation.
Guyana says talks with Venezuela over oil-rich Essequibo should resume
Guyana’s president, Irfaan Ali, has called for new diplomatic talks with Venezuela over the disputed oil-rich Essequibo territory after Venezuela’s presidential elections on July 28.
Trinidad and Tobago searching for operator for Guaracara refinery
Trinidad and Tobago is hunting for an operator for its dormant state-owned Guaracara oil refinery, with Prime Minister Keith Rowley announcing that a decision on several offers is expected by the end of August.
Brazil’s economists grow concerned about Lula’s influence in state-owned firms
Under the influence of President Luiz Inácio Lula da Silva, state-owned companies in Brazil, led by the national oil company Petrobras, are beginning to show worrying signs in management and governance.
Petrobras awards two long-term vessel contracts to Norway’s DOF
Norwegian offshore vessel operator DOF Group has won two significant long-term contracts with Brazil’s national oil company Petrobras for its pipelay support vessel and anchor handling tug supply vessel.
Petrobras brings forward start-up of new FPSO to Q4, initially expected in 2025
Brazil’s national oil company Petrobras has expedited the timeline for the commencement of operations of its new floating production, storage, and offloading vessel Maria Quitéria.
Exxon-Hess arbitration panel not yet complete
The arbitration panel that is to hear ExxonMobil’s objection to rival Chevron buying Hess’ Guyana assets remains incomplete, according to a report.
Stabroek Block cost recovery projected to hit $31 billion in 2024
Cost recovery for the Stabroek Block petroleum operations is expected to hit $31bn by the end of 2024, highlighting the substantial investments made under the Stabroek Block Production Sharing Agreement.
Death threats target Ecopetrol president amidst paramilitary funding allegations
The president of Colombia's state oil company Ecopetrol, Ricardo Roa, has been threatened with death following accusations against the company for allegedly funding paramilitary groups.
PetroRio in talks with Petrobras to acquire offshore fields
Brazilian independent oil company PetroRio SA is in bilateral talks with the national oil company (NOC) Petrobras to acquire the Albacora and Albacora Leste offshore oil fields, both companies confirmed.
Bolivia: YPFB acknowledges floating debts for fuel supplies
Armin Dorgathen, president of Bolivia's state-owned oil company Yacimientos Petrolíferos Fiscales Bolivianos, has acknowledged the existence of floating debts with fuel suppliers, although he assures that payments are being made accordingly
Guyana President claims Gas-to-Energy loan proposal remains unaffected by recent US sanctions
Guyana’s President Irfaan Ali claimed that Guyana’s landmark Gas-to-Energy project will remain unaffected by recent US sanctions against Permanent Secretary Mae Thomas and members of the Mohamed family, prominent local business leaders.
Petroperú to implement significant staff reductions and restructuring measures
Petroperu: reduction of the workforce by one-third and implementation of other significant organisational changes.
Mexico's new Olmeca Refinery faces significant delays
The Olmeca refinery, inaugurated by President Andres Manuel Lopez Obrador in July 2022, is unlikely to produce commercially viable motor fuels before the end of the year, according to five sources.
Guyana selects Fulcrum LNG as for major gas project alongside ExxonMobil
Guyana has selected Fulcrum LNG as a partner alongside ExxonMobil for a landmark gas development project.
Nestoil CEO urges Guyana to ensure strict enforcement of local content law
Dr Ernest Azudialu-Obiejesi, Chairman and CEO of Nestoil Group, stressed the critical need for Guyana to enforce its local content laws within the oil and gas sector.
Petroecuador invokes force majeure on Napo heavy crude exports amid severe weather disruptions
Ecuador's state oil firm, Petroecuador, has invoked force majeure on Napo heavy crude oil exports due to severe weather conditions that disrupted operations across the country.
Falkland Islands government initiates public consultation on Sea Lion Field development impact
The Falkland Islands Government has scheduled a public consultation from June 24 to August 5, to review the Environmental Impact Statement for the Sea Lion Field Northern Development Area, Phase 1 and 2.
Trans Mountain reshuffling oil flows to North America from Iraq, Brazil
US West Coast refiners are replacing their heavy oil imports from Iraq with cheaper crude from Canada because of the expanded Trans Mountain pipeline from Alberta’s oilsands to the Pacific Ocean in British Columbia.
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