LatAmOil - Latin America Oil & Gas

Petro Rio set acquire 90% of Albacora Leste

Brazil’s Petro Rio is set to acquire a 90% share in the Albacora Leste field after striking a deal worth $1.951bn with the national oil company Petrobras.

Chevron seeks new opportunities offshore Brazil

Chevron is looking for openings to invest in major new projects in Brazil’s offshore zone, according to Mariano Vela, the US major’s country manager.

Sources: US government asked Petrobras to raise oil output in March

US officials reportedly met with representatives of Brazil’s Petrobras in March to request that the South American country increase crude output in response to the Russian invasion of Ukraine.

ANCAP importing LPG to overcome shortages

Uruguay’s national oil company ANCAP was due to begin receiving emergency shipments of LPG from Argentina by the end of last week to compensate for supply disruptions.

CGX, Frontera announce integrated results of oil, condensate discovery at Kawa-1

Canada’s CGX Energy and its parent company Frontera Energy have confirmed the discovery of light crude oil and gas condensate at Kawa-1, an exploration well drilled at the Corentyne block offshore Guyana.

LatAmOil: Chevron seeks new opportunities offshore Brazil

Chevron is looking for openings to invest in major new projects in Brazil’s offshore zone, according to Mariano Vela, the US major’s country manager.

Iran lines up Latin American investments, partnerships

Venezuela begins imports of Iranian heavy oil for refining

World Bank report: 10 oil-producing countries account for 75% of global gas flaring

A report from the World Bank's Global Gas Flaring Reduction Partnership (GGFR), says gas flaring resulted in nearly 400mn tonnes of carbon dioxide (CO2) equivalent emissions in 2021.

Iran finds more partners as EU looks to save deal

Is Guyana about to make gas a higher priority?

ExxonMobil has been concentrating on oil at Guyana's Stabroek block, but there are signs that associated gas production may become more important than it has been in the past.

MPL expands scope of Puerto Libertad LNG project, targets FID in H2-2022

Mexico Pacific Ltd (MPL) has expanded the scope of its plan to build a new LNG export terminal at Puerto Libertad in Mexico’s Sonora State and will make a final investment decision in the second half of 2022.

Ecuador’s energy minister resigns

Ecuador’s Energy Minister Juan Carlos Bermeo stepped down from his cabinet post last week, announcing his decision in a letter to President Guillermo Lasso.

CDB head urges switch to renewable energy in order to reduce fuel import costs

The head of the Caribbean Development Bank (CDB) declared last week that Caribbean countries ought to speed up the transition to renewable energy sources in order to avoid the high costs associated with fuel imports.

Report: Olmeca refinery may cost $14bn

The final price tag for the 340,000 barrel per day refinery that Mexico’s Pemex is building in Tabasco State may be nearly twice the original figure of $8bn, according to a report from Reuters.

SENER restores Trafigura’s five fuel import permits

Trafigura, the Swiss-based commodities trader, reports that Mexico’s Secretariat of Energy (SENER) had restored the petroleum product import permits that it cancelled last September.

Petrobras signs PSCs for Atapu, Sépia

Petrobras announced on April 27 that it had signed production-sharing contracts (PSCs) for Atapu and Sépia, two of the four Santos basin sites within the offshore Transfer of Rights (TOR) area.

Indian refiners eye Brazilian crude, but few large-scale term supply deals are likely

Indian refiners are considering buying more Brazilian crude, but few large-scale term supply deals are likely.

LatAmOil: Olmeca refinery may cost as much as $14bn

The final price tag for the Olmeca refinery, which Mexico’s national oil company Pemex is building in Tabasco State, may be $14bn.

OPEC+ unlikely to alter its course

Iran looks to new avenues as nuclear talks stall

Jagdeo offers more information on government’s plans for unassigned blocks

Guyana’s Vice President Bharrat Jagdeo offered some additional details about the government’s plans for unassigned exploration blocks during a press conference on April 29.

Emerging basins, emerging tensions?

TechnipFMC’s shift of certain operations from Trinidad and Tobago to Guyana highlights the issues that can arise when one hydrocarbon basin matures and another moves to the forefront.

Argentina’s president marks start of construction on new pipeline for Vaca Muerta gas

Argentinian President Alberto Fernández marked the launch of construction work on the Néstor Kirchner natural gas pipeline last week during a ceremony at Loma Campana, a field in the Vaca Muerta shale formation.

Hess COO says Shell will spud Zanderij-1 exploration well at Block 42 in mid-2022

Shell (UK) is gearing up to drill a new exploration well at the Block 42 licence area offshore Suriname later this year, according to Hess (US), a non-operating partner in the project.