LatAmOil - Latin America Oil & Gas

Peru LNG reports exports down sharply in May

Peru LNG, the operator of a natural gas liquefaction plant and export terminal in Pampa Melchorita, reports that its LNG export volumes declined by nearly a third month on month in May 2023.

Trinidad and Tobago asks US to revise terms of sanctions waiver for Dragon gas project

Trinidad and Tobago has requested that the US make changes to a waiver that permits the joint development of the Dragon gas field without any penalty under the US sanctions regime.

CNH approves development plan for unitised Zama field

Mexico’s National Hydrocarbons Commission (CNH) has approved the development plan for the Zama Field Contract Area.

Pemex: Gas condensate accounted for a larger share of Mexico’s liquids production in April 2023

Gas condensate accounted for a larger share of the production of Mexico’s national oil company Pemex in April of this year than in the same month of 2022, in line with long-term trends.

Saudi cuts deeper as OPEC+ extends deal

Saudi Arabia has announced that it will cut its oil output by 1mn barrels per day in July, with OPEC+ agreeing to extend its current deal until next year.

LatAmOil: Argentina imposes stricter limits on oil importers’ access to forex

T&T still holding out hope for progress in talks with Venezuela

T&T and Venezuela are reportedly gearing up for more talks in mid-June, but a wide-ranging corruption probe may draw Venezuela’s attention away from the Dragon gas project.

Trendsetter Engineering to supply equipment for Guyana’s GTE project

Texas-based Trendsetter Engineering has agreed to supply equipment to a subsidiary of the US super-major ExxonMobil for the gas-to-energy (GTE) project in Guyana.

Grupo Carso unit secures minority stake in Talos Energy’s Mexican subsidiary

A subsidiary of Mexico's Grupo Carso is set to acquire a stake the Zama oilfield through the purchase of a 49.9% share in US-based Talos Energy's Mexico unit.

Petrobras seeks to increase competitiveness by offering wider range of gas contracts

Brazil's Petrobras has said it will expand the range of benchmarks used in natural gas contracts and extend the lengths of some contracts as part of an effort to remain competitive.

Pemex boosts capex budget for 2023

Mexico’s national oil company Pemex has unveiled its plans for a significant increase in its upstream capital expenditure budget for 2023.

Argentina tightens restrictions on oil importers’ access to forex amid US dollar shortage

In response to a severe scarcity of dollars, the Argentine government is reportedly preparing to tighten access to the foreign exchange market for oil companies that rely on imports.

Ecopetrol, Repsol discover oil in Tinamú-1 well at CPO 9 block

Colombia’s national oil company Ecopetrol and its Spanish partner Repsol have jointly announced the discovery of crude oil in Tinamú-1 in the Llanos basin.

Guyana’s government to monitor cost overruns more closely at Stabroek project

Guyana's government will monitor the Stabroek oil project more closely for cost overruns.

IADB report: Oil sector supporting private sector growth in Guyana

Guyana’s oil sector provided significant support for the growth of the private sector, partly because of FDI but also because of high government spending on infrastructure, says an IADB report.

Trinidad and Tobago supplies Croatia’s Krk terminal with LNG cargo

Trinidad and Tobago’s Atlantic LNG facility located in Point Fortin has supplied Croatia’s floating storage and regasification unit-based (FSRU) Krk terminal with an LNG cargo, LNGPrime reports.

Colombia considering whether to award more oil and gas exploration contracts, trade minister says

Colombia is considering whether to award more exploration contracts following a report showing that crude oil and natural gas reserves are declining.

LatAmOil: Petrobras eliminates import parity pricing for domestic fuel sales

Lula’s dilemma in Foz do Amazonas

While Lula sees Petrobras’ plans for the Equatorial Margin as a means of fostering economic development in north-eastern Brazil, part of his administration is blocking exploration efforts.

New candidate for Ecuadorean presidency says he is ready to re-evaluate oil and gas contracts

Fernando Villavicencio, a candidate in Ecuador's presidential election, says he will re-evaluate contracts with foreign oil and mining companies.

Guyana’s government authorises creation of dedicated oil and gas audit agency

Guyana's government has authorised the creation of a dedicated oil and gas audit agency to ensure effective oversight of expenses related to the development of the Stabroek offshore block.

YPF sees oil imports rising in Q3 2023

Argentina’s YPF expects to see crude import volumes rise in the third quarter of this year.

Shell, Chevron exit two Cuenca Salina blocks

Mexico's CNH says Shell (UK) and Chevron (US) are withdrawing from two deepwater blocks projects after conducting unsuccessful exploration programmes.

Petrobras eliminates import parity pricing for domestic fuel sales

Brazil’s Petrobras has replaced its existing domestic pricing policy for gasoline and diesel, known as import parity, with a new commercial strategy.

CCS Brasil director says country could earn up to $20bn per year from carbon capture and storage

Isabela Morbach, the co-founder and director of CCS Brasil, said last week that Brazil had the potential to earn as much as $20bn per year from carbon capture and storage (CCS) projects.