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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APA Suriname reliquishes a portion of block 53 offshore Suriname
APA Suriname Corporation LDC, alongside its partners CEPSA from Spain and Petronas, has opted to relinquish a portion of block 53 in Suriname's offshore region back to Staatsolie Maatschappij Suriname N.V.
TotalEnergies moves to secure final investment decision on Suriname's Block 58
TotalEnergies is moving to secure a final investment decision (FID) by the end of the year for a major oil project in Block 58 offshore Suriname, commanding an expected $9bn investment.
New Fortress Energy starts Barcarena and Terminal Gas Sul LNG facilities in Brazil
US LNG developer New Fortress Energy has revealed that its Barcarena LNG terminal and Terminal Gas Sul have begun operations.
Brazil’s potential easing of LPG usage restrictions could boost demand by 5%
Brazil is contemplating the relaxation of restrictions on liquefied petroleum gas usage, a move that could potentially boost demand by 5% over the next five years.
Mexico's Pemex swings to profits in Q4 but provider debt hits record high
Mexico's state-run oil company Pemex recorded a profit of MXN106.9bn in the last quarter of 2023, reversing earlier losses.
Petrobras starts drilling in Espirito Santo Basin at 2,100-metre depth
Brazil’s state-owned energy major Petrobras has commenced drilling operations for well 1-BRSA-1391-ESS in the Espírito Santo Basin.
SBM Offshore reserves hull for Guyana's Jaguar FPSO
Dutch shipbuilder SBM Offshore has taken a significant step forward in the construction of the Jaguar floating production, storage, and offloading vessel for ExxonMobil's sixth development offshore Guyana.
Chile's state-run ENAP signs natural gas technology deal with Upwing Energy
Chile's state-run energy company, Empresa Nacional del Petroleo has inked a deal with California-based Upwing Energy to deploy cutting-edge gas technology aimed at boosting production and recoverability in the country's gas fields.
Brazil, Guyana, and Suriname enter trilateral agreement for sustainable energy
Presidents Mohamed Irfaan Ali of Guyana, Luiz Inácio Lula da Silva of Brazil, and Chandrikapersad Santokhi of Suriname have affirmed their commitment to strengthening sustainable energy collaboration among their nations.
Exxon, CNOOC may derail Chevron’s $53bn bid for Hess
In a surprise move, ExxonMobil and China National Offshore Oil Corp. are asserting that they have the right to pre-empt Chevron’s purchase of Hess’ stake in the prolific deep-water offshore Stabroek field off Guyana.
Venezuela's PDVSA restarts MTBE production unit after five-year hiatus
Venezuela's state-owned oil company, PDVSA, has announced the restart of a unit dedicated to producing MTBE at its Jose complex in Anzoategui state after a hiatus of five years.
Argentina's Milei administration accuses Chubut governor of extortion amid funding cut row
Argentina's political landscape is heating up as a clash between President Javier Milei's libertarian government and the oil-rich province of Chubut intensifies over tax disbursements.
Petrobras and ArcelorMittal explore collaboration on low-carbon Initiatives
Brazilian state-owned energy giant Petrobras and steel major ArcelorMittal have entered into a memorandum of understanding to explore joint ventures in low-carbon projects.
Potential US sanctions on Venezuela prop up Colombia’s oil prices
The looming possibility of the US reinstating sanctions against Venezuela is bolstering the prices of Colombian oil of similar quality.
TotalEnergies aims to finalise investment decision for Block 58 offshore Suriname
TotalEnergies is gearing up to make a final investment decision for a major oil project in Block 58 off Suriname's coast by late 2024. The project is poised to become a cornerstone of the company's strategic initiatives in the region.
Argentina's Chubut governor threatens President Milei with cessation of oil production
Governor Ignacio Torres of Chubut province in Argentina issued an ultimatum to the Javier Milei administration, declaring that oil production would cease if the federal government continued to withhold essential financial resources from the provinces
Venezuela and Algeria forge gas sector collaboration amidst bilateral talks
Venezuelan Petroleum Minister Rafael Tellechea and President of Petróleos de Venezuela (PDVSA) convened with Algerian Energy and Mines Minister Mohamed Arkab in Caracas last week to explore collaborative ventures in the gas sector.
Venezuela seeks debt settlements from Chavez-era Petrocaribe scheme amid economic crisis
In a bid to address its financial woes amidst economic turmoil, Venezuela is pursuing debt repayments from the Petrocaribe programme, seeking to collect long-overdue dues from its struggling neighbours.
Pemex resumes payments to suppliers
Mexico’s state-owned energy major Pemex has reportedly resumed partial payments to suppliers, prioritising major oilfield service companies over smaller private producers.
Turkey's President Erdogan plans official visit to Venezuela, says foreign minister
Mexico's oil production reaches yearly low, Pemex fields contribute to decline
Mexico's oil industry began 2024 with the lowest crude oil and condensate production in a year, registering 1.88mn barrels per day, the lowest since December 2022.
Chubut governor threatens to halt oil exports if state funds withheld
Chubut Governor Ignacio Torres has warned Argentine President Javier Milei, that his province will cease oil exports if the federal administration continues to withhold a portion of co-participation funding.
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