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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Finance Ministry steps up pressure on Pemex to resume payments on maturing securities
Pemex has reportedly come under more pressure from the Finance Ministry to resume payments on maturing securities, despite President Lopez Obrador's promise to cover the firm’s obligations until the end of his term in 2024.
Staatsolie, Chevron sign PSC for Block 7
Staatsolie, the national oil company of Suriname, has struck a deal that will allow the US major Chevron to add Block 7 to its portfolio of offshore assets.
ExxonMobil makes three new finds at Stabroek
ExxonMobil has made three new discoveries in the south-eastern section of the Stabroek block offshore Guyana, pushing the recoverable resource estimate up to nearly 11bn boe.
Petroperú revises price tag for Talara refinery modernisation project upward
Petroperú, the national oil company of Peru, is once again making upward revisions to its estimate of the total cost of modernising the Talara oil refinery.
Venezuela opposition says US should make lifting oil sanctions conditional on reform
Venezuela’s political opposition will continue to insist that the US make lifting sanctions on the oil sector conditional on significant political reform, an oil and energy advisor to opposition leader Juan Guaido has said.
Jagdeo says Guyana will make decision on formation of NOC by September
Guyana’s Vice President Bharrat Jagdeo said last week that Georgetown was on track to make a final decision regarding the potential formation of a national oil company in September 2022.
Shell farms into two blocks offshore Barbados under deal with BHP Billiton
BHP Billiton (Australia) revealed last week that it had sold part of its equity stakes in two exploration licences offshore Barbados to a subsidiary of Shell (UK).
Wärtsilä to support Eagle LNG Partners, APC in LNG-to-power project on Antigua
Finland’s Wärtsilä will provide support to the Caribbean LNG joint venture as it executes a small-scale LNG regasification project on the island of Antigua.
LatAmOil: Pemex under pressure to resume payments on maturing securities
Pemex has reportedly come under more pressure from the Finance Ministry to resume payments on maturing securities, despite the president's earlier promise to cover the company's obligations until 2024.
The failure of CFE reform and the future of oil and gas
AMLO’s failed attempt to secure CFE’s leading role is a signal of willingness to continue waging a similar fight on behalf of Pemex, though not always through legislative means.
Yellowtail environmental permit includes landmark provisions targeting emissions reduction
The environmental permit issued for Yellowtail, the fourth development target at the Stabroek block offshore Guyana, differs from its predecessors because it will include a roadmap for carbon dioxide emissions reduction.
USAID awards grant to Peruvian NGO to help clean up oil spill
USAID has awarded a grant worth $100,000 to the Peruvian environmental fund Profonanpe to support clean-up operations related to an oil spill that occurred at La Pampilla earlier this year.
Petrobras reports on receipt of payment for stakes in Atapu oilfield
Brazil Petrobras has received full payment from Shell (UK) for its share in Atapu, an offshore oilfield in the Santos basin, and has given TotalEnergies (France) more time to pay for its own share in the same field.
Argentina extends TotalEnergies’ licence for CMA-1
Argentina’s government has pushed the closing date of the concession granted to TotalEnergies (France) and its partners for Cuenca Marina Austral-1 back from 2031 to 2041.
Duque: Colombia can ramp up oil production more quickly than Venezuela
Colombian President Ivan Duque asserted last week that his country was in a better position than Venezuela to ramp up oil production quickly.
Arrow Exploration gearing up for production testing at RCE-2 well in Llanos basin
Canada’s Arrow Exploration is nearly ready to begin production testing at Rio Cravo Este-2 (RCE-2), a new development well drilled at the Tapir block in Colombia’s Llanos basin.
CNPC brings its first well on stream at Ecuador’s Ishpingo oilfield
The government of Ecuador reported last week that a subsidiary of China's CNPC had brought Ishpingo, one of the three oilfields within the ITT block near the Yasuni National Park, on stream.
ANP hails investors’ strong response to latest bidding round, awards 59 blocks
Brazil’s ANP reported last week that the most recent bidding round, the Third Cycle of the Open Acreage in the Concession Model, had attracted more attention than anticipated.
Former CDB official describes Guyana’s estimate of GTP project cost as reasonable
Dr. Justin Ram, the former director of economics at the Caribbean Development Bank (CDB), views Guyana’s cost estimate of $900mn-$1bn for a planned gas-to-power (GTP) project as reasonable and not overstated.
Inoxcva to build small-scale LNG regasification plant on Antigua for Caribbean LNG
India’s Inoxcva said on April 19 that it had won a contract from the Caribbean LNG joint venture for the construction of a small-scale LNG regasification facility and terminal on Antigua.
LatAmOil: ANP notes strong interest in Brazil’s latest bidding round
Brazil’s ANP reported last week that the most recent bidding round, the Third Cycle of the Open Acreage in the Concession Model, had attracted more attention than anticipated.
Alagoas state administration hopes to attract industrial investors with cheap gas supplies
The Brazilian state of Alagoas has been expanding its efforts to attract industrial investors seeking access to less expensive natural gas supplies, according to a report from Argus Media.
Fuel shortages on the rise in Cuba due to higher prices, reduced shipments from Venezuela
Following the Russian invasion of Ukraine, petroleum product shipments to Cuba from Venezuela and other regular suppliers have plummeted far below their usual levels.
Ali says Guyana has received at least six proposals for small refineries in Region Six
Guyana’s President Irfaan Ali has said that at least six companies have submitted proposals to the government for the construction of oil refineries in the East Berbice-Corentyne region, also known as Region Six.
Nahle says Olmeca refinery will cost $9.8bn
Mexico’s Energy Minister Rocio Nahle has acknowledged that the cost of building the Olmeca refinery, formerly known as Dos Bocas, is likely to be closer to $10bn than the originally projected $8bn.
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