LatAmOil - Latin America Oil & Gas

ExxonMobil Guyana poised to beat 2027 production target

ExxonMobil's output in the Stabroek Block offshore Guyana is poised to potentially reach 1.5mn barrels per day (bpd) by 2027, thereby exceeding the company’s initial 1.2mn bpd target.

Guyana targets completion of ExxonMobil expense audits by year-end amid oil production surge

Guyana Vice President Bharrat Jagdeo declared the government’s goal to complete three separate audits of the expenses from the ExxonMobil-operated Stabroek Block spanning 24 years by the end of the year.

ExxonMobil Guyana to move into new $160mn HQ

ExxonMobil Guyana is gearing up to transition to its new headquarters in Ogle, East Coast Demerara, this year. "There's a lot of work to be executed in that finalisation but we'll occupy it this year." company president Alistair Routledge confirmed.

Pemex reports oil production down in 2023

Mexico’s national oil company (NOC) Pemex saw crude production levels drop last year, even as exports increased.

Peru LNG reports export volumes down in January

Peru LNG saw export volumes sink by more than 2% month on month in January 2024.

Guyana commissions $13mn FPSO facility simulator

A groundbreaking $13mn FPSO facility simulator has been commissioned in Guyana, marking a significant milestone in the country's oil and gas training capabilities.

ExxonMobil deliberates 7th development in Guyana

Construction underway for ExxonMobil's fifth Guyana FPSO

Japanese FPSO operator MODEC has begun constructing the FPSO Errea Wittu, to be used in ExxonMobil’s fifth oil development in the Stabroek Block offshore Guyana. ExxonMobil’s Uaru project is expected to begin operations in 2026.

ExxonMobil assures that Liza field downtime will not affect production goals

ExxonMobil announced that the Liza field in the Stabroek Block offshore Guyana will be taken offline temporarily later this year as the company hooks up the pipeline for Guyana’s landmark Gas-to-Energy project.

Venezuela threatens force against ExxonMobil over Guyana drilling plans

Venezuela has issued a stern warning of potential force against US energy giant ExxonMobil amid its planned offshore drilling in Guyana, an action deemed in violation of a prior agreement reached in December to refrain from such threats.

Western oil majors ease Venezuela fuel shortages as uncertainty looms over US sanctions relief

Western oil majors, including Chevron Corp. and Repsol SA, are playing a pivotal role in addressing Venezuela's fuel shortages under fresh agreements following the lifting of US sanctions.

MidOcean Energy reaches deal to acquire 20% stake in Peru LNG

MidOcean Energy, an LNG company created and managed by US investment firm EIG, has purchased a 20% stake in Peru LNG, the company revealed on February 12.

Oil and gas companies to invest over $1 trillion in the next decade expanding production

A report from climate campaign group Global Witness reveals that the fossil fuel sector is anticipated to allocate more than $1 trillion worldwide over the next decade for the expansion of natural gas production.

LatAmOil: Pertamina ventures into Venezuela’s Maracaibo basin

Mexico’s gas station regularisation program advances

The Gas Station Regularization Program in Mexico, designed to address environmental impact concerns, has made significant progress, with almost half of the targeted stations undergoing inspection

Mexico’s President's energy reforms likely to be part of the electoral programme

Mexican President Andres Manuel López Obrador has officially introduced a package of reforms, including significant changes to the energy sector, formally submitting his intention to dissolve autonomous regulators CRE and CNH.

Pemex aims to practically halve its emissions by 2027

Pemex has said it will aim to practically halve its greenhouse gas emissions by 2027

Pemex, CFE financials jeopardise Mexico’s sovereign credit rating.

US credit rating agency S&P has maintained Mexico's long-term foreign currency and local currency sovereign credit ratings at 'BBB' and 'BBB+', respectively, with a stable outlook, but warned state-owned energy major Pemex and utility CFE

Mexico unveils climate change reports aiming to enhance transparency

Rio de Janeiro aims for free natural gas market amid growing demand

The state of Rio de Janeiro in Brazil is actively seeking to develop its free natural gas market, responding to increasing demand in the coming decade and challenges in Brazil's gas agenda

ExxonMobil to write off Kaieteur expenses following withdrawal

Petrobras mulls projects with Gulf, Indian, Chinese, and Venezuelan firms

Brazil’s state-owned energy major Petrobras is engaged in discussions with national oil companies from China, India, and the Middle East

YPF plans largescale asset sale in push to zone in on shale production

Guyana's revenue from oil production expected to increase as ExxonMobil recovers costs

Guyana is poised to experience a substantial surge in its oil revenues by 2026/2027, fuelled by the ExxonMobil-led Stabroek Block consortium's ongoing efforts to recover its significant investments in offshore exploration and development.

Venezuelan oil industry on edge as US sanctions threat looms