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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OPEC output rises despite Iraqi cuts as unwinding is pushed back

4 November 2024

has pushed back its planned easing of output cuts to the end of the year, just as production has risen despite Iraq’s compensatory efforts

SBM Offshore's FPSO starts production at Brazil's Mero Field

4 November 2024

Shell Brasil has announced the start of production at the floating, production, storage and offloading (FPSO) vessel Marechal Duque de Caxias (Mero-3) in Brazil's pre-salt Santos Basin

Transition Industries secures pact with Mitsubishi Gas for ultra-low carbon methanol supply

2 November 2024

Transition Industries has signed a letter of intent (LoI) with Mitsubishi Gas Chemical Company (MGC) for a long-term supply agreement aimed at delivering 1mn tpy of ultra-low carbon methanol from its upcoming Pacífico-Mexinol facility in Sinaloa.

Global oil supply to see major glut next year: World Bank

2 November 2024

Global commodity prices are on track to slump to a five-year low next year, with an oil glut emerging so large that it will largely negate the impact of the Israel-Palestine war escalating into a regional Middle Eastern conflict.

Suriname oil boom expected as Block 58 project set to begin

2 November 2024

Suriname's oil sector is poised for significant growth, with the Block 58 project expected to yield approximately 700mn barrels of recoverable resources from the Sapakara South and Krabdagu fields.

Guyana's oil production slumps amid ExxonMobil temporary shutdown

1 November 2024

Guyana's oil production declined 11% in Q3 2024 following ExxonMobil's temporary shutdown of two production vessels to facilitate a new gas-to-shore pipeline connection.

Suriname to hold off on new IMF programme ahead of oil and gas project

1 November 2024

Suriname's government has announced it will postpone decisions on future International Monetary Fund programme involvement until after the May 2025 general election, as it evaluates strategies for managing anticipated oil revenues.

CNOOC reports record-breaking financial performance driven by Guyanese operations

1 November 2024

CNOOC Limited reported a record-breaking financial performance in the third quarter of 2024, with unprecedented net production and profit levels largely attributed to successful projects, including the Payara development in Guyana.

Hess beats Q3 profit estimates, helped by rising Guyanese oil production

1 November 2024

Hess Corp exceeded third-quarter profit expectations with earnings of $2.14 per share, largely driven by increased oil production in Guyana.

Karoon powers up Bauna production in Brazil

1 November 2024

Karoon Energy reported a rise in oil output from its Baúna Project in Brazil, producing 1.99mn barrels in Q3, up 44% from the previous quarter.

Petrobras reports Q3 production struggles due to maintenance

1 November 2024

Petrobras reported a 6.6% decline in oil and gas production for the third quarter, with CEO Magda Chambriard attributing the drop to the natural decline of fields and scheduled maintenance in July-September.

Peru to streamline environmental permits for hydrocarbon exploration

31 October 2024

The Ministry of Energy and Mines (Minem) is set to reduce the lengthy environmental permitting process for oil and gas exploration in Peru, potentially cutting approval times by up to two years.

Colombia's gas and oil sectors face critical developments

31 October 2024

The future of Colombia's gas supply has received a significant boost with the resumption of activities at the Sirius gas well, previously known as Uchuva-2.

Borders & Southern Petroleum secures Falkland Islands production licence extension

31 October 2024

Borders & Southern Petroleum announced that it has secured a two-year extension for its production license in the Falkland Islands, pushing the expiry date to December 31, 2026.

Mexico Pacific set to transform energy landscape with major LNG investment

31 October 2024

Mexico Pacific is gearing up for a significant investment decision in 2025 regarding its Saguaro Energía LNG project on the Pacific Coast.

Mexico increases fuel imports from the US as refinery operations decline

31 October 2024

Mexico is increasing its imports of gasoline and diesel from the US Gulf Coast as the holiday season approaches, indicating a likely reduction in domestic refinery activity.

Bolivia transport chaos sparks threats to seize YPFB amid fuel crisis

31 October 2024

The ongoing fuel crisis in Bolivia has sparked unrest among transport workers, who threaten to seize YPFB’s oil fields if the situation is not resolved swiftly.

Fitch affirms Argentine energy firm PCR's rating at 'B-' on Ecuador diversification

31 October 2024

Fitch Ratings has affirmed Argentine energy company Petroquimica Comodoro Rivadavia's (PCR) credit rating at 'B-' with a stable outlook, citing its growing Ecuadorian operations as a partial hedge against Argentine risks.

YPF to sell Metrogas stake to focus on Vaca Muerta development

31 October 2024

Argentina's national oil company YPF announced plans to divest its 70% stake in cooking gas distributor Metrogas, with proceeds to be redirected toward developing the Vaca Muerta shale formation.

YPF creates subsidiary Argentina LNG

31 October 2024

Argentine national oil company YPF has established Argentina LNG, a new subsidiary aimed at developing a liquefied natural gas plant in Río Negro to capitalise on the vast reserves of the Vaca Muerta's shale formation.

SBM Offshore's role in Guyana's rapid oil expansion

31 October 2024

SBM Offshore's Fast4Ward programme is driving ExxonMobil's rapid expansion in Guyana's offshore oil sector, with three production vessels currently operating in the region, chief executive officer Øivind Tangen stated in an interview.

Argentina seeks to become net energy exporter buoyed by Vaca Muerta

31 October 2024

Argentina is edging toward becoming a net energy exporter as the Vaca Muerta shale formation attracts rising investor interest. It is the world's fourth-largest shale oil deposit and the second-largest shale gas resource.

Petrobras’ FPSO Marechal Duque de Caxias connects to first well

31 October 2024

Brazil’s national oil company (NOC) Petrobras has completed connection of the first production well to the floating, production, storage and offloading (FPSO) vessel Marechal Duque de Caxias at the Mero field in the Santos Basin's pre-salt area

FPSO Almirante Tamandaré reaches Brazil for Búzios Field deployment

31 October 2024

The FPSO Almirante Tamandaré has reached Brazilian waters after departing China's CMHI shipyard on July 31.

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