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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Paraguayan president signs motor fuel price subsidy bill into law
Paraguay’s government has enacted a bill that subsidises the cost of motor fuel sold at filling stations owned by Petróleos Paraguayos (Petropar), the state-run petroleum product concern, for at least two months.
ExxonMobil strikes out at Cutthroat-1
ExxonMobil (US) has reportedly seen disappointing results from Cutthroat-1, a wildcat well drilled at SEAL-M-428, an ultra-deepwater block in the deepwater Sergipe-Alagoas basin offshore Brazil.
CADE agrees to give Petrobras more time to sell seven refineries
CADE, the Brazilian government’s anti-trust agency, has granted the national oil company Petrobras more time to complete the sale of seven refineries included in its privatisation programme.
Talos confirms receipt of documents officially naming Pemex as operator of Zama oilfield
US-based Talos Energy has confirmed its receipt of documents from Mexico’s Secretariat of Energy (SENER) finalising the decision to award Pemex control of the offshore acreage that includes the Zama oilfield.
EIG, Fluxys eye 80% stake in GNL Quintero
EIG Energy Partners (US) and Fluxys (Belgium) announced on March 28 that they were teaming up to acquire an 80% stake in GNL Quintero, a Chilean LNG import terminal.
LatAmOil: SENER formally names Pemex as operator of Zama oilfield
US-based Talos Energy has confirmed its receipt of documents from Mexico’s Secretariat of Energy (SENER) finalising the decision to award Pemex control of the offshore acreage that includes the Zama oilfield.
ANP head comments on projected pace of Brazil’s oil production increase
Rodolfo Saboia, the director-general of Brazil’s ANP, said last week that his country was on track to raise its hydrocarbon production by 3mn barrels of oil equivalent per day by the end of the decade.
Pemex may change schedule for halting crude oil exports
Mexico City is reportedly considering keeping oil export volumes at 1mn bpd temporarily in order to earn more revenue to cover fuel subsidy expenditures.
Researchers say Mexico’s gas flaring volumes continued to rise in 2021
The Colorado School of Mines’ Earth Observation Group (EOG) has updated its dataset to show that Mexico’s associated gas flaring volumes continued to rise last year.
GO-Invest highlights potential of Block C, Takutu basin
The Guyana Office for Investment (GO-Invest) has published a new prospectus highlighting some of the country’s unlicensed onshore and offshore sites.
Petropar cuts motor fuel prices
Petróleos Paraguayos (Petropar), the state-run petroleum product concern of Paraguay, reduced motor fuel prices earlier this week following widespread complaints from truck drivers and other consumers.
Acelen pushes back against claims that Mataripe refinery is pricing fuel unfairly
Acelen, the subsidiary of the Mubadala Capital group (UAE/Abu Dhabi) that operates the Brazilian RLAM refinery, has dismissed claims that it is taking an unfair and uncompetitive approach to fuel pricing in Bahia State.
ExxonMobil, partners postpone deadline for selection of second drilling site at Kaieteur
ExxonMobil (US) and its partners in the Kaieteur block offshore Guyana have agreed to push the deadline for selection of a second exploration drilling target back to October 2, 2023.
LatAmOil: Emissions reduction may be a factor in Ecuador’s Intracampos 2 tenders
Ecuador’s Energy Minister Juan Carlos Bermeo has said that Quito may take carbon emissions reduction goals into account when selecting the winners of upcoming tenders for six onshore oil blocks.
Bermeo says Ecuador may consider carbon emissions reduction in upcoming tender awards
Ecuador’s Energy Minister Juan Carlos Bermeo has said that Quito may take its carbon emissions reduction goals into account when selecting the winners of upcoming tenders for six onshore oil blocks.
Eco Atlantic revises CPR to cover all assets offshore Guyana, Namibia, South Africa
UK-based Eco (Atlantic) Oil & Gas said on March 21 that it has revised its competent person's report (CPR) to cover all of its assets offshore Guyana, Namibia and South Africa.
FxPro Group says US restrictions on Russian oil imports could benefit Mexican economy
Cyprus-based FxPro Group Ltd has said that it expects the Mexican economy to reap benefits in the medium term from the US government’s decision to ban imports of Russian crude oil and natural gas.
Brazil’s response to Russia-Ukraine conflict
South America’s largest economy is under pressure, both as an oil producer and as a major fuel consumer
Rowley said high oil prices won’t have much positive impact on Trinidad and Tobago
Keith Rowley, the prime minister of Trinidad and Tobago, said last week that he did not expect the country to benefit much from the recent increase in global energy prices.
Petroecuador’s oil trading manager says US buyers are eyeing Ecuadorean crude
Ecuador’s national oil company Petroecuador says that the US government’s decision to ban imports of Russian crude has generated new interest in Ecuadorean feedstock among US refiners and traders.
EIG Global Energy Partners offers to buy 51% of TBG gas pipeline
Brazil’s national oil company Petrobras has received an offer from US-based EIG Global Energy Partners for a majority stake in TBG, a natural gas pipeline between Bolivia and Brazil.
CGX arranges to borrow $35mn from parent company to cover cost of Guyana projects
CGX Energy (Canada) has arranged to cover its share of costs for several projects in Guyana under a financing agreement with its parent company, Frontera Energy.
Petroecuador aims to double oil and gas output in five years
Ecuador’s national oil company Petroecuador intends to raise its hydrocarbon production to 800,000 barrels of oil equivalent per day (boepd) within the next five years.
Duque says Colombia can supply oil to US
Colombian President Iván Duque met with US President Joe Biden in Washington last week to discuss energy security amid the ongoing Russian military incursion in Ukraine.
US continues to explore sanctions relief for Venezuela
In an effort to secure new supply sources and mitigate the rapid rise in oil prices, the administration of US President Joe Biden has continued to explore the possibility of easing sanctions on Venezuela.
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