LatAmOil - Latin America Oil & Gas

Gas exports plummet as Bolivia seeks production boost, fuel crisis deepens

In the first half of 2024, Bolivia's natural gas exports experienced a significant downturn, with values falling by 18.1% compared to the same period in 2023. The National Institute of Statistics (INE) reports that exports totalled $877.4mn.

LatAmOil: New Fortress Energy faces market backlash

New Fortress Energy faces market backlash

New Fortress Energy (NFE) faced a harsh market reaction on August 9 as its shares tumbled 25% on the New York-based Nasdaq. The plunge followed the company's revelation of a $80.75mn net loss in its second-quarter report.

Petrobras' post-loss investment play

Petrobras reported a BRL2.6bn ($473mn) loss in Q2 2024, its first negative result in nearly four years, raising concerns about the state-owned company’s future financial stability.

President Milei visits YPF in Vaca Muerta, Argentinian region to export gas to Brazil

Argentine President Javier Milei visited YPF's Vaca Muerta facilities, Ámbito reported, where he engaged with the NB 1211 drilling team and met with key representatives from major operating companies in the Neuquén formation.

ExxonMobil post-pandemic recovery driven by Stabroek operations

ExxonMobil's resurgence following the COVID-19 pandemic has been significantly bolstered by its operations in Guyana, particularly within the Stabroek Block, a Bloomberg report by Kevin Crowley found.

Mexico's June trade deficit driven by decline in crude exports

Mexico recorded a trade deficit of $1.04bn in June, a stark contrast to the $1.99bn surplus in May, according to data from Inegi.

Petrobras validates 'digital twin' technology to boost oil production

Brazil’s national oil company Petrobras has announced the successful validation of a new application of "digital twin" technology, aimed at optimising oil production and flow.

Venezuela boosts oil production to 928,000 bpd amid sanctions, says OPEC

According to the latest OPEC report, Venezuela's oil production reached 928,000 barrels per day, marking a rise of 6,000 bpd in July.

Argentina's YPF to modernise Ensenada gas refinery

YPF is working to modernise the Ensenada Refinery within the Ingeniero Enrique Mosconi Industrial Complex by inaugurating new plants.

Burford Capital advances efforts to secure $16bn court ruling against Argentina's YPF

Burford Capital announced that it is leveraging remarks made by a provincial governor in Argentina to strengthen its efforts to secure a $16bn U.S. court judgment against the Argentine government, which it claims controls national oil company YPF SA.

YPF pushes forward with Vaca Muerta pipeline with Energy Transfer to boost shale exports

Horacio Marín, president of YPF, is confident that the Vaca Muerta Sur pipeline is set to be Argentina’s first RIGI energy project.

Brazil’s Braskem considers petrochemicals production cuts and unit closures

Brazilian petrochemical company Braskem is contemplating potential production cuts or even closing some production capacity in Brazil.

Staatsolie to inject $1.8bn into Suriname's first offshore project

Suriname's national oil company Staatsolie is preparing to invest $1.8bn into the nation's first offshore oil project, according to the company's 2023 annual report.

Citgo protection extended as court-ordered auction looms

The US Treasury Department has prolonged its shield over Citgo Petroleum from creditors until November 12. This extension comes as the court-mandated auction of shares in the Houston-based refiner's parent company nears its final stages.

Natural gas exports plummet as Bolivia seeks to boost production

In the first half of 2024, Bolivia's natural gas exports experienced a significant downturn, with values falling by 18.1% compared to the same period in 2023.

Bolivia’s fuel crisis deepens as smuggling and import dependency plague the economy

Bolivia faces an economic challenge as a natural gas exporter that imports 71% of its hydrocarbon needs. This situation has led to considerable public spending on fuel subsidies, with the government allocating $2bn to subsidise petrol and diesel.

Brazil's environmental civil servants agree to end strike affecting oil permits

Argentina's YPF output surges in second quarter, PCR buys some YPF assets

YPF, Argentina’s national oil company, reported a solid performance during the second quarter of the year, with total hydrocarbon production averaging 539,000 barrels of oil equivalent per day.

Halliburton to expand Suriname operations

Halliburton is set to broaden its operations in Suriname. In a meeting with President Chandrikapersad Santokhi, Halliburton CEO Jeffrey Miller conveyed his intent to boost the company’s investments in the country.

Industry-first technology in US Gulf of Mexico may open ultra-high pressure offshore fields

First oil and gas are now being produced from a field in the US Gulf of Mexico so deep that the equipment must withstand record ultra-high pressures.

Petrobras' post-loss investment play

Petrobras reported a BRL2.6bn ($473mn) loss in Q2 2024, its first negative result in nearly four years, raising concerns about the state-owned company’s future financial stability.

Mexico's oil sector overhaul seeks private partnerships

Mexico's incoming government is poised to revolutionise the country's oil sector by encouraging state-owned Pemex to forge equity partnerships with private oil companies.

New Fortress Energy faces market backlash

New Fortress Energy (NFE) faced a harsh market reaction on August 9 as its shares tumbled 25% on the Nasdaq.

Ecuador oil workers accuse government of pushing privatisation agenda

Ecuador's National Association of Energy and Oil Workers (Antep) on August 12 accused the government of running a campaign to discredit state oil production, alleging it aims to privatise active hydrocarbon fields managed by public firm Petroecuador.