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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Guyana’s oil production hits new record high
Guyana saw crude oil production levels rise to a new high of 386,540 barrels per day (bpd) on July 29, according to official data.
VP: Guyana still working to determine best solution for unassigned offshore blocks
Guyana’s Vice President Bharrat Jagdeo told reporters on August 19 that the government was still trying to determine the best solution for disposing of unassigned blocks in the country’s offshore zone.
Another disruption in Brazil’s refinery sell-offs?
Industry observers say upcoming changes in Brazil's diesel emissions standards could force changes in Petrobras' refinery valuations and future investment commitments.
LatAmOil: ExxonMobil may use tie-backs to expand production at Stabroek
Mike Ryan, production manager at ExxonMobil Guyana, says his company is seriously considering using subsea tie-backs to link new oil finds at the Stabroek block to existing infrastructure in order to improve production operations.
PdVSA shifts its course on European oil-for-debt swaps
Venezuela's PdVSA is no longer willing to supply oil to Europe in exchange for settlement of old debts.
Argentina offering tax, customs breaks to companies that increase oil and gas production
Argentina is planning to give oil companies new incentives to boost production by offering them tax and customs benefits, Economy Minister Sergio Massa declared last week.
Chemtech awaiting Guyana’s approval for integrated petrochemical complex
Chemtech will set up an integrated hydrocarbon-processing and post-petrochemical complex in Guyana, thereby establishing itself as a pioneer in that country’s emerging downstream sector.
Petcoke fire still smoldering at Limetree Bay Refinery, PHRT says
Firefighters are still working to extinguish a blaze that broke out on August 4 at the Limetree Bay Refinery, located on St. Croix in the US Virgin Islands (USVI).
TC Energy, CFE establish strategic alliance to build Southeast Gateway pipeline
TC Energy (Canada) and Mexico’s Federal Energy Commission (CFE) have agreed to form a strategic alliance that will work to speed up development of the Southeast Gateway pipeline and other natural gas projects.
Pemex seeking nearly $6.5bn in additional funding for work on Olmeca refinery this year
Mexico’s national oil company Pemex has asked the government to make nearly $6.5bn in extra funding available this year for work on the Olmeca refinery project.
Peru LNG resumes exports after July shutdown
Peru LNG, the operator of a natural gas liquefaction plant and export terminal in Pampa Melchorita, resumed exports in the first two weeks of August following a planned shutdown in July.
New Fortress Energy expects to bring two Brazilian LNG terminals on stream next year
US-based New Fortress Energy (NFE) reports that it is nearly finished with the establishment of two new LNG import terminals in Brazil.
ExxonMobil sees tie-backs as an option for bringing more Stabroek fields on stream
ExxonMobil Guyana is giving serious consideration to proposals for using subsea tie-backs to link new oil finds at the Stabroek block to existing production facilities in order to streamline development operations.
TotalEnergies and partners sign agreement with Argentina on Fenix gas field
TotalEnergies (France) and its partners have signed an agreement with Argentina’s government on the development of Fenix, a natural gas field located in San Sebastian Bay off the coast of Tierra del Fuego Province.
Guyana’s EPA decides ExxonMobil must perform EIAs for Canje, Kaieteur
Guyana’s Environmental Protection Agency (EPA) will require ExxonMobil (US) to conduct environmental impact assessments before drilling new wells at the Canje and Kaieteur offshore blocks, reversing its earlier stance.
LatAmOil: Terminal fire could plunge Cuba into an energy crisis
Cuba may be heading for an energy crisis following a devastating fire that destroyed at least 40% of the Matanzas Supertanker Base, the country’s largest crude oil and petroleum product import terminal and storage depot.
Rising freight rates driving Mexico’s fuel bills higher
Increasing worldwide freight costs are driving Mexico’s fuel costs upward as the country looks to satisfy high domestic demand.
Fire could plunge Cuba into an energy crisis
Following a blaze that has destroyed at least 40% of the Matanzas Supertanker Base, Cuba stands to run low on power plant fuel. The consequences could lead the US to reconsider sanctions policy.
Guyana’s president sees gas cutting regional power generation costs by 40%
Guyana’s President Irfaan Ali said on August 4 that natural gas had the potential to reduce electricity generation costs in the Caribbean region by approximately 40%.
Panama Canal Authority reports LNG tanker transits down 30% in last nine months
The deputy administrator of the Panama Canal Authority (PCA) has said that the number of LNG tankers passing through the Panama Canal had dropped by nearly a third over the last nine months.
Acorn International confirms contract award for EIA of Uaru project
Acorn International, a Houston-based risk management consultancy, has been contracted to carry out an environmental impact assessment (EIA) for Uaru, the fifth development project at the Stabroek block offshore Guyana.
IADB report: Guyana’s oil export revenues set to rise in 2022 and beyond
The Inter-American Development Bank (IADB) said in a new report that it expects Guyana’s oil export revenues to continue rising in 2022 and beyond.
Appointment of new energy minister may signal that Argentina is preparing to cut gas, power subsidies
Argentina’s government appears to be moving closer to making a decision on scaling back domestic subsidies for natural gas and electricity following a reshuffle at the Energy Secretariat.
Colombian utility says PdVSA has proposed gas deliveries via closed cross-border pipeline
Grupo Energia Bogota (GEB), one of Colombia’s largest electricity providers, has received a proposal from Venezuela for the resumption of gas deliveries via a cross-border pipeline after a hiatus of seven years.
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