LatAmOil - Latin America Oil & Gas

Guyana playing pivotal role in reducing Europe's dependency on Russian oil

Guyana’s growing oil industry is playing a pivotal role in reducing Europe’s reliance on Russian supplies, said ExxonMobil Guyana President Alistair Routledge. He said ExxonMobil expects Guyana to produce more than 1mn barrels per day by 2028.

Gas purchase contract between Argentina and Bolivia to end sooner than expected

Argentina’s ambassador to Bolivia said an addendum to the gas purchase contract between the countries would move the end date from 2026 to mid-2024. Bolivia may not be able to meet capacity requirements should the initial end date remain enforced.

Guyana's oil and gas sector grew 98.4% in first half of 2023

Guyana’s president has announced that the country's oil-and-gas sector grew by 98.4% during the first six months of 2023. This industry was the main driver of Guyana’s 59.5% economic growth for the same period.

LatAmOil: Mexico’s president says Olmeca refinery has begun producing gasoline

Guyana oil supply to surge until beyond 2028, the IEA claims

The International Energy Agency reported in its Oil 2023 (Analysis and Forecast to 2028) outlook that it expects Guyana’s global oil supply to explode in the coming years, with Guyanese oil accounting for 1.3% of global demand by 2028.

Brazil’s crude regulator interdicts FPSO Cidade de Santos on safety risk

After finding “critical deviations” in the vessel’s facilities, Brazil’s National Petroleum Agency has interdicted a floating production storage and offloading platform owned by the Japanese company MODEC and chartered to Petrobras.

Market weighs Petrobras thermal plant sales plans

Plans by Petrobras to sell its stakes in the Termocabo, Suape II and Araucaria thermal power plants are moving forward, but the state-controlled company could struggle to find interested buyers.

Paraguay summons Argentine ambassador to protest retention of tanker refusing to pay waterway toll

Paraguay is protesting Argentina’s retention of a oil tanker carrying 30mn litres of fuel to the Paraguayan capital for refusing to pay a recently implemented toll for using the Paraguay-Parana waterway.

Enauta’s FPSO in Brazil coming back on stream by October

Brazilian oil and gas player Enauta is anticipating the return of production from an FPSO vessel that is working at the Atlanta field off Brazil by October. Previously, production was expected to resume by early September.

Brazil’s Petrobras allocates $64bn to exploration, production in 2023-2027

Petrobras’ updated strategic plan for 2023 to 2027 now allocates $64bn for exploration and production investments, with 67% earmarked for pre-salt projects.

Venezuela could help achieve global gas stability if sanctions are removed, oil minister says

Venezuela's Minister of Oil, Rafael Tellechea, claimed that the nation stands ready to ensure stability in global gas trade if “extraterritorial economic sanctions” are lifted.

Petrobras aims to install 11 new FPSOs by 2027 in pre-salt layer

Pemex gets billions for debt payment in Mexico draft budget

The Mexican government’s draft budget for next year includes a capital allocation to state-owned energy major Pemex to pay maturing debts that have surpassed $11bn, according to people familiar with the matter, Energiesnet reported on September 4.

Petrobras makes its first purchase of carbon credits

Mexico’s Pemex starts up Dos Bocas refinery

Brazil to invest in new petrochemical plants in partnership with Bolivia

Dragon talks likely to keep dragging on

Shell and NGC may be ready to credit PdVSA’s past outlays, but Venezuela’s pipeline proposals and the persistence of US sanctions are complicating talks on the Dragon project.

Olmeca refinery has begun production, AMLO says

Mexico’s largest and newest oil-processing plant has begun turning out petroleum products, President Andres Manuel Lopez Obrador announced on September 1.

Venezuela's oil exports experience sharp decline in August

Data from vessel monitoring and internal company documents reviewed by Reuters indicate that the country's oil exports plummeted by a staggering 38% compared to July, when they had reached a three-year high.

VLCCs off Panama coast may offer cheaper Canadian crude shipping route to Asia-Pacific

Very large crude carriers positioned off Panama's Pacific coast could emerge as the cost-effective gateway for transporting Canadian crude to Asia-Pacific destinations as the Trans Mountain Expansion (TMX) project gears up for operation next year.

ExxonMobil Guyana to host talks ahead of Whiptail project launch

ExxonMobil Guyana is set to hold a series of public meetings with local communities about its upcoming Whiptail project, with eight meetings scheduled in coastal locations across Guyana.

Cepsa reportedly seeks buyer for oil wells in Colombia and Peru

Cepsa — a privately held Spanish oil company keen to assume a leadership role in the fields of biofuels and green hydrogen — has initiated the sale of its oil wells in Colombia and Peru.

ExxonMobil begins laying pipelines for Gas-to-Shore project

ExxonMobil has begun laying pipelines for the Gas-to-Energy project aimed at transporting natural gas from the Stabroek Block’s Liza oilfield to an integrated gas processing facility at Wales, West Bank Demerara in Guyana.

Guyana's Stabroek Block hits 12mn barrels in July

Guyana’s Ministry of Natural Resources conducted a data analysis on the performance of the offshore Stabroek Block over the month of July. According to the analysis, projects in the block produced more than 12mn barrels of oil for the month.

Petronas awaits final decision on new Argentinian LNG law

Malaysia’s state-run energy firm Petronas is watching closely developments in Argentina’s Congress of the country’s draft LNG law, which is aimed at giving a jolt to the nation’s LNG sector.