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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Mexico's Finance Minister cautions against immediate Pemex debt overhaul

28 May 2024

Mexico's Finance Minister, Rogelio Ramirez de la O, has tempered expectations of a significant restructuring of the state oil company's debt in the near term, indicating that no substantial operations are currently on the agenda.

Mexico's oil revenues exceed expectations

28 May 2024

Transfers of oil revenue to Mexico's Federal Treasury have once again exceeded expectations, marking the second instance this year.

YPFB aims to achieve 80% diesel production through exploration and industrialisation

28 May 2024

The executive president of Bolivian Fiscal Oil Fields, Armin Dorgathen, has announced an ambitious plan for the state oil company to produce 80% of its diesel through national crude oil exploration, production, and industrialisation.

Bolivia: $167.8mn investment in drilling wells announced

28 May 2024

Yacimientos Petrolíferos Fiscales Bolivianos is set to invest $167.8mn in the drilling of two significant wells, Iñau-X3D and Yapucaiti-X1, located in the Chuquisaca department.

Ecuador's oil production struggles amidst downward trend under Noboa administration

28 May 2024

Ecuador's oil production under President Daniel Noboa's administration faces a decline, with March 2024 at 482,000 bpd from 490,000 bpd in November 2023.

Venezuela's PDVSA aims for 1.23mn bpd oil output in December, oil minister says

28 May 2024

Venezuela's state-owned oil company, Petróleos de Venezuela, is eyeing an extraction target of 1.23mn barrels per day in December, as revealed by Petroleum Minister and company chief Pedro Tellechea.

Increase in Mexico's crude exports following Tula Refinery outage

27 May 2024

Mexico has seen a notable rise in crude oil exports, reaching approximately 838,000 barrels per day so far in May.

Moody’s downgrades Colombia’s Ecopetrol to junk status

27 May 2024

Moody’s Investors Service has downgraded the Colombian majority state-owned energy company Ecopetrol to junk status.

TotalEnergies group emerges as only bidder to gain cabinet approval in Guyana's oil block bid

27 May 2024

A consortium of TotalEnergies, Petronas and Qatar Energy has emerged as the sole bidder to secure Guyana’s Cabinet approval in the country's inaugural oil block bid round, Vice President Dr Bharrat Jagdeo confirmed during a press conference.

Venezuela thanks Iran for oil production recovery amid US sanctions

26 May 2024

Venezuelan Foreign Minister Yván Gil credited Iran for enabling his country to restore oil production despite US sanctions during an interview with HispanTV in Tehran, where he attended the funerals of President Ebrahim Raisi and other officials.

Brazil cabinet expects full Petrobras extra dividends in 2024

26 May 2024

Brazil's government anticipates that Petrobras will distribute 100% of its extraordinary dividends this year, despite no final decision from the national oil company.

Brazil’s 3R and Enauta to also explore for crude in Foz do Amazonas

26 May 2024

The newly formed oil company resulting from the merger of Brazil’s 3R Petroleum and Enauta is set to explore the Foz do Amazonas basin, contingent on national oil company Petrobras' success in the region, CEO Decio Oddone said.

Karoon Energy appoints Marco Brummelhuis as Brazil unit director

26 May 2024

Australia-headquartered Karoon Energy has appointed Marco Brummelhuis as Executive Vice President and Country Manager for its Brazil unit, effective July 1.

Venezuela opposition mulls Citgo bankruptcy move to halt asset sale at auction

24 May 2024

Venezuela’s opposition is contemplating a strategic move that could throw a wrench into the sale of its prized US assets. Inside sources suggest that Citgo Petroleum Corp.’s holding company is considering a drastic step: filing for bankruptcy.

PEMEX's exploration success improves by 27% with new strategy

23 May 2024

Petróleos Mexicanos has seen a 27% improvement in its exploratory success due to a strategic shift.

BP halts talks with Venezuela on gas project amid US sanctions return

23 May 2024

BP has temporarily suspended discussions with Venezuela regarding a gas project along the maritime border with Trinidad and Tobago after the reimposition of US sanctions last month, a spokesperson for the company announced on May 22.

China's fuel oil imports reach record high amidst surge from Venezuela and Iran

23 May 2024

China saw a significant uptick in fuel oil imports in April, marking a notable 10% increase from the previous year, according to data from the General Administration of Customs.

Pemex’s Dos Bocas refinery faces delays as initial output falls far below capacity

23 May 2024

Mexican national oil company Pemex has begun sending only 16,300 bpd of crude oil to its new Olmeca refinery, significantly below its full capacity, indicating yet another delay. This initial output represents less than 5% of the refinery's capacity.

Mexican firm seeks US approval to import gas for LNG export

23 May 2024

Gato Negro Permitium Uno has recently submitted a request to the United States Department of Energy to export natural gas to Mexico.

Shell to conduct seismic survey expedition offshore Trinidad and Tobago

23 May 2024

Shell Trinidad and Tobago confirmed that it will embark on a seismic survey expedition in the East Coast Marine Area (ECMA), covering deepwater Blocks 25a, 25b, and 27.

YPF begins construction of Vaca Muerta Sur pipeline

23 May 2024

Argentina’s national oil company YPF has commenced the construction of the Vaca Muerta Sur pipeline, which is set to facilitate the export of approximately 135mn barrels of oil annually.

Rystad Energy expects Suriname's first gas project in 2031

23 May 2024

Norway's Rystad Energy predicts a landmark gas project could materialise in Suriname as early as 2031, centred on Petronas' activities in Block 52.

Guyana achieves third-fastest oil production growth globally

23 May 2024

Guyana has rapidly emerged as a key player in the global crude oil market, boasting the third-fastest production growth rate worldwide, data from the US Energy Information Administration showed.

Lula's ambitions for Petrobras constrained by new regulations

23 May 2024

Brazilian President Luiz Inacio Lula da Silva faces significant challenges in transforming national oil company Petrobras into an economic engine, despite appointing Magda Chambriard as the new CEO.

Frontera Energy mulls sale of Colombian assets to boost strategic operations

23 May 2024

Canadian oil company Frontera Energy, Colombia’s third largest oil producer, has announced plans to explore strategic alternatives for its infrastructure assets within the country.

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