LatAmOil - Latin America Oil & Gas

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Oil & Gas

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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Touchstone Exploration secures licences for two blocks in Trinidad and Tobago

3 July 2024

Touchstone Exploration Inc., through its subsidiary Primera Oil and Gas Limited secured new Exploration and Production Licences for the Cipero and Charuma blocks in Trinidad and Tobago.

ExxonMobil Guyana generating over $1.5bn per month from oil operations

3 July 2024

Philip Rietema, Vice President of ExxonMobil Guyana stated that oil production in the Stabroek Block is generating over $1.5bn a month.

Record number of fracture stages set in Argentina's Vaca Muerta in June

3 July 2024

Vaca Muerta, Argentina's prolific shale formation, has continued to break new ground in unconventional hydrocarbon activity, reaching an unprecedented 1,703 fracture stages in June, surpassing the previous record of 1,584 stages.

Guyana to ramp up oil output ahead of global demand slowdown

3 July 2024

Guyana’s oil and gas sector is set to continue its rapid expansion despite a recent report by the International Energy Agency suggesting that global oil demand will soon decelerate.

Ecuadorians protest against fuel price hike

3 July 2024

Ecuadorians took to the streets earlier this week in protest against President Daniel Noboa following the increase in Extra and Ecopais gasoline prices. The axing of fuel subsidies is linked with the agreements recently signed with the IMF.

Final member of panel selected for ExxonMobil-Chevron arbitration

3 July 2024

The final member has been selected for the three-person arbitration panel tasked with resolving ExxonMobil's claim against Chevron's $53bn acquisition of Hess Corp.

Guyana's Stabroek Block yields record annual profits in 2023

3 July 2024

The collaborative ventures of ExxonMobil, Hess and CNOOC in the Stabroek Block offshore Guyana have provided a significant boost to Guyana’s petroleum sector, with a reported combined profit of $6.3bn for 2023.

Petroecuador adjusts 2024 plans amidst revised drilling goals and production targets

3 July 2024

Ecuador’s national oil company Petroecuador, under interim CEO Diego Guerrero, has revised its drilling plans for 2024, expecting to drill fewer wells than initially projected but aiming for higher crude production than previously projected.

Transocean drillship embarks on maiden gig with Petrobras in Brazil

2 July 2024

Switzerland-based offshore drilling contractor Transocean has commenced operations in Brazil with its newbuild ultra-deepwater drillship, marking the start of its inaugural drilling assignment with the national oil company Petrobras.

Venezuela's Pequiven signs $750mn ammonia plant deal with Turkey’s Yildirim Group

2 July 2024

Venezuela's state-owned petrochemical firm, Pequiven, has signed a $750mn investment deal with Yildirim Group, the holding company of Turkish billionaire Robert Yuksel Yildirim, to construct an ammonia plant in eastern Venezuela.

US court asked to delay Citgo auction proceedings amid investor bid evaluations

2 July 2024

A motion filed with a US court seeks to postpone a pivotal hearing on the auction of shares in the parent company of Citgo Petroleum, a US-based refiner technically owned by Venezuelan state-run oil company PDVSA, until September 19.

Ecopetrol in negotiations to purchase LNG amidst production decline

2 July 2024

Colombia's state energy company, Ecopetrol SA, is actively engaged in negotiations with suppliers of liquefied natural gas as the country's domestic gas production continues to decline.

Bolivia’s hydrocarbons crisis: declining production and information gaps

2 July 2024

Bolivia's hydrocarbon sector is facing a critical situation due to a significant drop in natural gas production, leading to reduced income from sales to Argentina and Brazil.

Colombia's Ecopetrol to import gas from Venezuela in 2024 to cover 8% supply shortfall

1 July 2024

Ecopetrol, Colombia's state oil company, is set to import 100mn cubic feet per day of gas from Venezuela starting next year to bolster national hydrocarbon supply, addressing an anticipated 8% shortfall.

Norway's Equinor fails to find oil or gas in maiden Argentine offshore well

30 June 2024

Equinor's first offshore well in Argentina, Argerich-1, has come up dry, dashing hopes for a major oil find in the CAN-100 block.

Mexico faces unprecedented gasoline and diesel prices

30 June 2024

Mexico is experiencing a historic surge in gasoline and diesel prices, influenced by lower tax deductions, international market fluctuations, and a depreciating peso.

CGX Energy and Frontera Energy advance efforts to unlock Guyana's hydrocarbon potential

30 June 2024

Canadian firms CGX Energy and Frontera Energy are intensifying efforts to unlock the hydrocarbon potential of the Corentyne block offshore Guyana.

CGX Energy and Frontera Energy plan to retain Corentyne Block

29 June 2024

CGX Energy and Frontera Energy have announced their intent to retain the Corentyne Block offshore Guyana. Without government approval, the companies risk losing the acreage.

Hammerhead announced as ExxonMobil's seventh Stabroek development offshore Guyana

29 June 2024

ExxonMobil announced Hammerhead as its seventh project in Guyana's Stabroek Block, subsequently filing for environmental authorisation.

Guyana says talks with Venezuela over oil-rich Essequibo should resume

27 June 2024

Guyana’s president, Irfaan Ali, has called for new diplomatic talks with Venezuela over the disputed oil-rich Essequibo territory after Venezuela’s presidential elections on July 28.

Trinidad and Tobago searching for operator for Guaracara refinery

27 June 2024

Trinidad and Tobago is hunting for an operator for its dormant state-owned Guaracara oil refinery, with Prime Minister Keith Rowley announcing that a decision on several offers is expected by the end of August.

Brazil’s economists grow concerned about Lula’s influence in state-owned firms

27 June 2024

Under the influence of President Luiz Inácio Lula da Silva, state-owned companies in Brazil, led by the national oil company Petrobras, are beginning to show worrying signs in management and governance.

Petrobras awards two long-term vessel contracts to Norway’s DOF

27 June 2024

Norwegian offshore vessel operator DOF Group has won two significant long-term contracts with Brazil’s national oil company Petrobras for its pipelay support vessel and anchor handling tug supply vessel.

Petrobras brings forward start-up of new FPSO to Q4, initially expected in 2025

27 June 2024

Brazil’s national oil company Petrobras has expedited the timeline for the commencement of operations of its new floating production, storage, and offloading vessel Maria Quitéria.

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