LatAmOil - Latin America Oil & Gas

Petroperú to implement significant staff reductions and restructuring measures

Petroperu: reduction of the workforce by one-third and implementation of other significant organisational changes.

Mexico's new Olmeca Refinery faces significant delays

The Olmeca refinery, inaugurated by President Andres Manuel Lopez Obrador in July 2022, is unlikely to produce commercially viable motor fuels before the end of the year, according to five sources.

Guyana selects Fulcrum LNG as for major gas project alongside ExxonMobil

Guyana has selected Fulcrum LNG as a partner alongside ExxonMobil for a landmark gas development project.

Nestoil CEO urges Guyana to ensure strict enforcement of local content law

Dr Ernest Azudialu-Obiejesi, Chairman and CEO of Nestoil Group, stressed the critical need for Guyana to enforce its local content laws within the oil and gas sector.

Petroecuador invokes force majeure on Napo heavy crude exports amid severe weather disruptions

Ecuador's state oil firm, Petroecuador, has invoked force majeure on Napo heavy crude oil exports due to severe weather conditions that disrupted operations across the country.

Falkland Islands government initiates public consultation on Sea Lion Field development impact

The Falkland Islands Government has scheduled a public consultation from June 24 to August 5, to review the Environmental Impact Statement for the Sea Lion Field Northern Development Area, Phase 1 and 2.

Trans Mountain reshuffling oil flows to North America from Iraq, Brazil

US West Coast refiners are replacing their heavy oil imports from Iraq with cheaper crude from Canada because of the expanded Trans Mountain pipeline from Alberta’s oilsands to the Pacific Ocean in British Columbia.

NorthAmOil: Trans Mountain reshuffling oil flows to North America from Iraq, Brazil

Expansion of gas infrastructure in Peru: progress since 2014 and future projections

Since 2014, Peru has made significant strides in expanding its gas infrastructure. The Ministry of Energy and Mines (Minem) has recently announced the development of a National Pipeline Plan.

Pemex has a surge in light crude oil production

Pemex has a surge in light crude oil production, driven by the addition of new fields specialising in this premium hydrocarbon type.

Costa Rica becomes first country to produce hydrocarbon-free vehicle oils

Costa Rica has become the first nation to produce vehicle oils without hydrocarbon exploitation, thanks to oil change specialist METALUB.

Guyana to invest $66mn in state power company to curb fuel prices

In response to the escalating global fuel prices, the Guyanese government is set to introduce a supplementary budget of $66mn to the National Assembly to inject into national power company Guyana Power and Light.

Pemex boosts light crude output with new fields

In recent developments, Pemex has significantly increased its production of light crude oil, a move driven by the exploitation of new fields known for producing higher-quality hydrocarbons.

Bolivia: Lukoil sends 366,000 barrels of diesel to YPFB

Lukoil, a Russian oil company, has dispatched 366,000 barrels of diesel, equating to 50,000 tonnes, to Yacimientos Petrolíferos Fiscales Bolivianos to support Bolivia's fuel supply.

Petrobras begins drilling Uchuva-2 Well offshore Colombia

Petrobras has commenced the drilling of the Uchuva-2 well in Colombia's Caribbean coastal Tayrona block

Guyana selects Fulcrum LNG to build Exxon-led project

US energy infrastructure firm Fulcrum LNG has been chosen by the government of Guyana to work with ExxonMobil and help design, develop and build a natural gas processing plant.

Fossil fuel use reaches global high

A new report finds that fossil fuel energy use rose to a record high in 2023, despite efforts to combat climate change.

Global gas flaring at highest level in five years

In 2023, the volume of gas flared globally rose by 9bn cubic metres to 148 bcm, the highest level since 2019, according to a new World Bank report. This is despite efforts to curtail the practice because of climate change.

Trident awards Trendsetter Engineering contract for subsea manifolds in Brazil

US-based Trendsetter Engineering has secured a new project for two offshore oil fields in Brazil, following its market entry with new facilities in Macaé.

G&A Investments pursues $1.5bn claim against PDV Holding in Texas court amid Citgo auction

G&A Strategic Investments, a creditor of Venezuela, has initiated legal action in Texas to reclaim $1.5bn from defaulted promissory notes issued by PDVSA, Venezuela's state oil company, targeting US-based Citgo parent PDV Holding.

BP to acquire Bunge's stake in Brazilian biofuels joint venture

Bp has agreed to purchase Bunge’s 50% stake in their joint venture, bp Bunge Bioenergia, one of Brazil’s leading biofuels producers.

Petrobras mulls offshore wind pilot project near Rio de Janeiro

Brazil’s national oil company Petrobras has signed a protocol of intentions with the Rio de Janeiro state government to jointly conduct feasibility studies for an offshore wind pilot project.

Petrobras agrees to pay BRL19.8bn in back taxes, propping up federal budget

Brazil's national oil company Petrobras has reached an agreement to settle BRL19.8bn in back taxes with the federal government.

Oil and gas majors make progress on OD OBN geophysical monitoring systems project

The On Demand Ocean Bottom Node project in Brazil, which aims to usher in a new era of geophysical monitoring systems for the offshore oil and gas sector, has advanced into its second phase.

Brazil’s rig provider Foresea achieves record operational uptime, announces first dividend payment

Rig provider Foresea has its entire fleet contracted, having achieved an operational uptime of 98.2% in 2023, the highest in the Brazilian market.