LatAmOil - Latin America Oil & Gas

Mexico Pacific reveals plans to invest a further $15bn in LNG projects in northern Mexico

Mexico Pacific Limited has unveiled bold ambitions to become a bigger player in the global LNG market with the announcement that a $15bn investment will be made in LNG projects in northern Mexico over the next two to three years.

Guyana to conduct 3D seismic survey to support future exploration and bid rounds

Guyana is set to commission a comprehensive survey aimed at gathering critical data to support further offshore oil and gas exploration as well as future bid rounds.

ExxonMobil spends $1.6bn on Guyanese suppliers since 2015

Since making its first landmark oil discovery in 2015, ExxonMobil Guyana has injected over $1.6bn into the local economy, underscoring its commitment to nurturing Guyana's burgeoning oil and gas sector while fostering economic growth.

ExxonMobil Guyana seeks local suppliers for well fabrication and assembly services

ExxonMobil is seeking local Guyanese suppliers to provide fabrication and assembly services tailored to the company’s offshore oil and gas operations.

Wintershall Dea announces start of drilling at Argentina's Fenix gas field

Wintershall Dea announced that it, together with Total Austral and Pan American Energy, have begun the development drilling phase at the Fénix gas field, approximately 60km off the coast of Tierra del Fuego, Argentina.

Brazil Energy Minister commends Guyana for attracting oil sector investments

Brazil’s Minister of Mines and Energy, Alexandre Silveira, has praised Guyana for its success in attracting substantial investments in its oil sector

Venezuela to boost gasoline and gas production through its alliance with Iran

Venezuela plans to boost its gasoline and gas production through alliances with Iran, state-owned Petroleos de Venezuela (PDVSA) indicated on X.

Uruguay’s Ancap reports $48mn losses amid La Teja refinery maintenance

Uruguay's state-owned oil firm, Ancap, revealed a significant setback last week, reporting losses totaling $48mn over the past three months. The losses stemmed from the necessity to import fuel to make up for a refinery closure.

Citgo’s Corpus Christi refinery draws intense interest ahead of court auction

Citgo Petroleum’s smallest refinery in Corpus Christi, Texas, has garnered significant attention ahead of this week’s court auction aimed at resolving over $20bn in Venezuela-related claims, according to sources.

Suriname's inaugural deepwater oil project to be sanctioned in late 2024

Suriname is closing in on its first offshore oil development, with a final investment decision for Block 58 expected later this year.

SBM Offshore tasked with building hull for Suriname FPSO

SBM Offshore has received an order from TotalEnergies to build a hull for an FPSO set for use in the Block 58 development in Suriname.

EPA confirms Guyana can get $2bn guarantee from Stabroek Block consortium for oil spills

Director of the Environmental Protection Agency, Kemraj Parsram, clarified that if an offshore spill occurs in Guyana and the government needs to access the $2bn guarantee from the Stabroek Block consortium, additional funds can be negotiated.

OPEC Secretary General acknowledges Venezuelan President Nicolas Maduro's leadership

Argentina's energy and mining sectors defy recession, managing to grow during Q1

TotalEnergies delivers update on final investment decision for Suriname's Block 58

TotalEnergies announced that a Final Investment Decision is expected in the fourth quarter of this year regarding Suriname’s offshore Block 58, with production slated to start in 2028.

ExxonMobil Guyana announces profit of $2.9bn in 2023

ExxonMobil Guyana reported a profit of GYD 614.6bn for 2023, marking a 6% y/y increase.

Brazil Mining Minister praises Guyana for oil sector investment growth

Brazil’s Minister of Mines and Energy, Alexandre Silveira, praised Guyana's success in attracting substantial investment to its oil sector.

Venezuela's oil exports rebound in May as US sanctions grace period ends

Venezuela’s oil exports surged in May, recovering from a slump the previous month as state oil company PDVSA’s customers hurried to secure cargoes before the end of the grace period on May 31 in the wake of the re-imposition of US sanctions.

Citgo boards and Venezuelan opposition lobby US to halt share auction amid creditor dispute

Venezuelan opposition members and the supervisory boards of US refiner Citgo Petroleum have reportedly engaged with US officials and lawmakers in recent days, aiming to delay a court-ordered auction of shares to satisfy creditors.

OPEC+ extends cuts, to unwind voluntary limits

OPEC+ has extended most of its cuts through 2025, but will begin to unwind voluntary additional restrictions

Brazil’s drilling contractor Ventura Offshore listed on Norway’s stock exchange

Shearwater starts 3D survey in Brazil's offshore Pelotas Basin

Shearwater GeoServices has commenced its Pelotas Basin 3D survey offshore Brazil, marking its fifth multi-client 3D acquisition project.

Petrobras pricing policy props its market dominance, hinders private refiners

Brazil’s national oil company (NOC) Petrobras shift in fuel pricing policy, initiated in May 2023, is presenting significant challenges for the country’s refining sector, according to analysts.

Mexico’s new president vows to continue current oil and gas policies, but that may prove impossible

Claudia Sheinbaum will become Mexico’s first female president on October 1 after winning a landslide election on June 2. She campaigned on a promise to continue the path laid out by outgoing President Andrés Manuel López Obrador.

US and European demand for Guyanese oil rises amid Mexican supply slump

Global trade data and analytics firm Kpler observed that competition between the U.S. and Europe for Guyanese oil is intensifying amid a slump in Mexican crude exports.