LatAmOil - Latin America Oil & Gas

Thinking ahead

Brazil’s latest gas reform bill anticipates the need to liberalise access to pipelines, LNG terminals and other infrastructure ahead of the recovery in energy demand.

Latin America experts see Biden pushing Mexico on US energy investments

Several Latin America observers have speculated that US President-elect Joe Biden may push harder than the incumbent Donald Trump to uphold the interests of US companies seeking to invest in Mexico’s energy sector.

Ali administration seeks to “open the gate” for local oilfield service providers

Guyana’s new government is looking to speed up efforts to develop the capacity of local companies seeking to provide services to offshore oil development projects.

Karoon Energy finalises acquisition of Baúna oilfield

Australia’s Karoon Energy has wrapped up its acquisition of Baúna, an offshore field in the Santos basin, from Petrobras.

Apache waxes enthusiastic about Block 58

US-based Apache indicated last week that it remained enthusiastic about the prospects of the offshore Guyana-Suriname basin, where it has been leading development work at Block 58.

Bretaña restart pushes Peru’s crude output up 30% in October

Crude oil production in Peru rose by 30% month on month in October to reach 37,851 barrels per day (bpd).

Petroecuador, Petroamazonas CEOs resign ahead of planned merger

The CEOs of Petroecuador and Petroamazonas recently resigned ahead of a planned merger of the two state-owned oil companies.

PetroRio signs sales deal with Gas Bridge for Manati stake

The Brazilian independent oil and gas firm PetroRio has signed binding documents with Gas Bridge, another local player, to sell its stake in the Manati offshore natural gas field.

Enauta may abandon Atlanta field after partner’s withdrawal

Enauta Energia has said that the Atlanta oilfield may not proceed to full commercial development now that its partner Barra Energia, another local company, has decided to exit the project.

EIA: Value of US petroleum exports to Mexico approached record high in 2019

US producers exported almost $34bn worth of crude oil, petroleum products and natural gas to Mexico last year, slightly lower than the record high registered in 2018, according to Census Bureau data cited by the US Energy Information Administration.

NRG: COVID-19 vaccine lifts hopes

Explosion reported at Amuay refinery

Venezuela’s largest oil refinery has sustained significant damage, following an explosion at a 100,000 barrel per day (bpd) crude distillation unit (CDU) last week.

Auditor says CFE will pay almost $7bn more than expected for gas projects

Mexico’s national power provider CFE is set to spend almost $7bn more than expected on certain natural and associated gas transport projects, according to a new report from the federal audit office, known as ASF.

Port of Spain turns down rejects offer for Petrotrin refinery

The government of Trinidad and Tobago revealed last week that it had decided not to accept a bid from Patriotic Energies and Technologies Co., a local firm owned by the Oilfields Workers’ Trade Union (OWTU), for the mothballed Petrotrin refinery.

Changes afoot for Stabroek project

ExxonMobil and its partners are dealing with an increase in their resource estimate for the Stabroek block, talks with the Guyanese government on gas pricing and changes in their environmental permits.

Petrobras proceeding with major divestments, execs say

Brazil’s state-run oil and gas company Petrobras is in the advanced stages of various major divestments, company executives have indicated.

CNH data show Pemex’s high-priority fields missing targets

Work on fields that Mexico’s Pemex has prioritised for development since last year has been progressing much less quickly than expected and is falling behind schedule, according to the National Hydrocarbons Commission (CNH).

Petrobras posts third consecutive quarterly loss

Brazil’s state-run oil and gas company Petrobras has posted its third quarterly loss in a row, but it said in its latest interim report that it had also managed to reduce losses between July and September.

Senior official: Gas key to Argentina’s post-pandemic energy sector

Natural gas is set to become a more important component of Argentina’s energy sector in the post-pandemic world, according to one of the country’s senior energy officials.

Petrobras acquires P-71 platform, eyes Itapu start-up

Brazilian state oil and gas major Petrobras has agreed to buy the P-71 floating production, storage and off-loading (FPSO) platform for $353mn and will use the platform to develop the Itapu oilfield.

NRG: Balancing optimism with caution

Eagle LNG’s Barbuda deal fuels Caribbean ambitions

Eagle LNG intends to supply a new resort on Barbuda with LNG from its liquefaction plant in Jacksonville.

AMLO dismisses US legislators’ critique of Mexican energy policy

Mexican President Andres Manuel Lopez Obrador has dismissed claims that his government’s energy policy puts US-based companies at an unfair disadvantage.

Ecopetrol reports sales, net profits down in Q3-2020

Colombia’s national oil company (NOC) Ecopetrol has reported a significant decline in its financial performance in the third quarter of 2020.

Petrobras to assume control of Foz do Amazonas block

Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) reported last week that it had authorised state-owned Petrobras to assume control of FZA-M-59, a block in the Foz do Amazonas Basin.