LatAmOil - Latin America Oil & Gas

Petrobras' Q3 output hits record highs, capacity utilisation at 96%

Brazil's state-owned energy major, Petrobras, posted record high production in the third quarter, helped by a healthy increase in its pre-salt output. Production stood in Q3 at 3.98mn barrels of oil equivalent per day, up 7.8% from Q2.

Brazil’s Minas Gerais state to pass binding mandate for ethanol use in public fleet

In an effort to boost demand for ethanol, the chamber of deputies of Brazil’s state of Minas Gerais has introduced a bill suggesting that heads of public agencies opt to fuel their flex-fuel vehicles with hydrated ethanol.

Stabroek Block partners initiate purchase of Liza Unity FPSO

Hess indicated in its Q3 earnings report that the company and its partners in Guyana’s offshore Stabroek Block are in the process of purchasing the Liza Unity floating production, storage and offloading vessel.

Petrobras selling full 18.8% stake in electricity utility UEGA

Mexico’s Pemex fuel supply in Guerrero flowing as state reels from Hurricane Otis

Female-led Guyanese company wins two oil blocks in nation's first auction

Female-led Sispro has been awarded two blocks in Guyana’s first-ever oil block auction. Of all 14 bids, the Guyanese company was the only individual bidder, with all other submissions coming as part of a consortium.

Suriname to leverage oil revenues to manage debt

Suriname will issue oil-linked securities to its creditors, whereby they will receive a portion of the royalties the country expects to generate from its first offshore oil development in Block 58.

Guyana announces significant discovery in Lancetfish-2 well in Stabroek Block

A “significant discovery” has been made in the Lancetfish-2 appraisal well drilled in the offshore Stabroek Block by the ExxonMobil-led consortium, Guyana’s energy ministry has announced.

Venezuela’s PDVSA inks two spot contracts with prepayment in EUR as US sanctions relief kicks in

Sales quotas imposed amid Argentinian fuel shortage

Fuel pumps in several regions of Argentina have imposed sales limits after it was reported that Argentina is suffering a fuel shortage. This shortage comes after state-owned energy company YPF raised average fuel prices by 3%.

Chevron to buy Hess for $53bn as majors bet on fossil fuels

In the latest in a series of massive US upstream transactions, Chevron has agreed to buy Hess, a US exploration-and-production independent, for $53bn in an all-stock transaction.

India seeks to diversify energy sources, eyes Venezuelan oil after US sanctions easing

India's future crude-oil imports from Venezuela will be steered by the nation's overarching energy-security policy, as New Delhi explores diversified supply sources to mitigate potential disruptions stemming from geopolitical instability

Mexico’s imports of Asian gasoline rise sharply

Mexico’s imports of Asian gasoline rose sharply in January-September, with China and Singapore exporting more in the nine-month period than the total exports for the entire years of 2020, 2021, and 2022.

LatAmOil: Chevron enters Guyana

Petrobras’ price policy lacks transparency, Acelen says

Acelen, a company controlled by Abu Dhabi’s Mubadala investment fund and the owner of Brazil's largest private refinery, has expressed reservations about Petrobras' pricing strategy, arguing it negatively impacts Brazil's business environment.

Brazil’s natural gas reinjection reaches record high in September

Brazil's natural gas production reached an all-time high in September, resulting in record-breaking reinjection volumes, according to the country's oil-and-gas regulator, ANP Argus.

Chevron buyout of Hess could boost exploration in Stabroek Block

Chevron’s move to buy out Hess could lead to more “adventurous drilling” in Guyana’s Stabroek Block, according to the director of energy for Americas Market Intelligence, Arthur Deakin.

Audits of ExxonMobil will be completed by mid 2024, Guyana VP says

The vice president of Guyana, Dr. Bharrat Jagdeo, has confirmed that the audit of ExxonMobil’s expenses is expected to be up to date by mid 2024. He also said his government will not consider engaging in settlement talks with ExxonMobil.

Brazil’s Ipiranga introduces diesel with renewable content

Petrobras advocates for thorough qualification criteria in offshore wind farm auctions

Mexico restricts imports of petroleum products, petrochemicals

Mexico has imposed import restrictions on a range of petrochemicals and unfinished refined products, citing concerns that these materials are being employed in ways that violate or circumvent tax and fuel-theft regulations.

Woodside Energy awards pipe contract in Mexico to TechnipFMC

Woodside Energy has awarded a contract to manufacture flexible pipe for its Trion crude oil project in Mexico to engineering services firm TechnipFMC. The contract is TechnipFMC's largest flexible pipe award in the Gulf of Mexico to date.

Colombia’s Ecopetrol CEO disputes claims of oil-and-gas industry’s demise

Colombia's oil-and-gas industry is not facing an imminent demise due to the transition to cleaner energy, according to Ecopetrol CEO Ricardo Roa. Ecopetrol has never indicated a discontinuation of its traditional oil-and-gas operations, he says.

Ecopetrol, Shell's Glaucus-1 well confirms large gas reserves in Colombia’s Caribbean

Ecopetrol has confirmed the presence of natural gas in the deep waters of the southern Colombian Caribbean, a pivotal discovery that underscores the importance of the gas reserve in this region of the country.

Petrobras capital reserves earmarked for dividends, CFO says

Brazil’s state-owned energy major, Petrobras, has clarified that the capital reserve it plans to establish will be solely dedicated to paying dividends, according to the firm’s CFO, Sergio Caetano.