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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Abu Dhabi’s ADNOC launches fresh non-binding offer to acquire controlling stake at Brazil’s Braskem
Guyana's EPA introduces offloading measures for Payara FPSO
Guyana’s Environmental Protection Agency (EPA) has put in place a series of measures to guide the offloading procedures of the Prosperity floating production storage and offloading (FPSO) operated in ExxonMobil’s Payara offshore project.
What is pushing oil price down?
The price of crude oil has fallen 6.6% in the week ending November 10, with Brent closing below $80 a barrel for the first time since July. Only a few months ago analysts were predicting triple-digit prices. Now that looks like a dream.
What is pushing oil price down?
The price of crude oil has fallen 6.6% in the week ending November 10, with Brent closing below $80 a barrel for the first time since July. Only a few months ago analysts were predicting triple-digit prices. Now that looks like a dream.
Saudi, Russia to stick with voluntary output cuts
Saudi Arabia and Russia this week confirmed that they will extend their additional voluntary oil production restraint until the end of the year.
New Fortress Energy’s Santa Catarina, Brazil LNG export terminal obtains FSRU charter
New Fortress Energy has finalised a definitive agreement to charter the floating storage and regasification unit (FSRU) Energos Winter from Petrobras, scheduled to commence in December 2023.
Brazil’s ethanol exports fall in October
Brazilian ethanol exports experienced a notable decline in October, down a nearly a third compared to the same period in 2022. The primary factor contributing to this contraction were a seasonal reduction in demand for the biofuel in the US.
Petrobras faces dilemma over budget allocation between oil and renewables
Nearing the final stages of formulating its upcoming five-year business plan, Brazilian energy major Petrobras finds itself at a crossroads when it comes to allocating resources between energy-transition initiatives and oil-and-gas production.
Mexico’s Pemex, US New Fortress drop plans for deepwater natgas project
Mexico's state-owned energy major Pemex and US liquefied natural gas company New Fortress Energy have abandoned plans for a significant deepwater natural gas project in Mexico, according to sources familiar with the matter.
OPEC mulls expanding membership to include Brazil
OPEC is in discussions regarding the possibility of broadening its membership, and it appears that Brazil, a significant oil-producing nation, has expressed interest in joining the organisation.
Suriname's state oil company Staatsolie announces Shallow Offshore 2 Bid Round
Suriname's state oil company, Staatsolie, announced a new round of bidding for 11 new offshore oil blocks. Winners are expected to be announced in June of 2024. Suriname is hoping to achieve its first offshore oil output by 2028.
Argentina exploring use of gas to power Bitcoin mining
Massa and Milei both believe Bitcoin can play a role in stabilising Argentina’s economy.
New Fortress Energy Charters FSRU to start operations at Brazilian LNG terminal early
LNG developer New Fortress Energy will charter in December Petrobras’ floating storage and regasification unit Energos Winter for its LNG Terminal Gas Sul in Santa Catarina, Brazil.
Peru LNG’s exports down by nearly a third in October
Peru LNG saw export volumes decline by nearly 32% month on month in October 2023.
Venezuela’s PDVSA seeks foreign partners to fix infrastructure after sanctions easing
Chinese refineries face supply challenges amid rising bitumen blend costs, Venezuela sanctions easing
Oil prices defy analysts’ expectations and fall rather than rise after the outbreak of the Israeli-Hamas war
The oil price defied analysts’ expectations and fell rather than rose after the outbreak of the Israeli-Hamas war on October 7. A month later, despite a 3.7% drop in the price of a barrel of Brent, its value has returned to pre-war levels.
African Energy Chamber urges Guyana to maximise hydrocarbon production
Speaking at the AfriCaribbean Trade and Investment Forum, African Energy Chamber executive chairman NJ Ayuk urged Guyana to fully produce its hydrocarbon reserves in order to drive the country’s economic development.
Guyanese government seeks public approval before finalising gas monetisation strategy
The Guyanese government has released a “discussion paper” to gauge the opinions of the public before proceeding with its national gas strategy involving the monetisation of the country’s gas reserves.
Petronas makes significant oil discovery offshore Suriname
Malaysian state oil company Petronas announced that it made a significant oil discovery within the Roystonea-1 exploration well offshore Suriname. Petronas explained that an oil reservoir was found in Roystonea-1.
Brazil’s posts record high oil, gas production in September
Brazil posted in September record-breaking total production of oil and natural gas production as well as separate records for oil and natural gas production, Brazil Energy Insight reported on November 3.
Argentina exploring use of natural gas to power Bitcoin mining
Argentina’s Economy Minister and presidential candidate Sergio Massa has expressed an interest in using untapped natural gas from the Vaca Muerta shale formation to power bitcoin mining operations
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