LatAmOil - Latin America Oil & Gas

China reportedly prepared to renegotiate oil-for-loans deal with Ecuador

China’s government is prepared to renegotiate the terms of its debt agreements with Ecuador so as to break the link between payment and crude oil sales, according to President Guillermo Lasso.

CGX, Frontera will put Demerara drilling on hold to focus on Corentyne this year

CGX Energy and Frontera Energy have dropped plans to drill an exploration well at the Demerara block offshore Guyana this year to focus on another prospect in the same basin – Corentyne, where they recently found oil at Kawa-1.

ExxonMobil launches production at Liza-2

ExxonMobil (US) and its partners launched commercial operations at the Liza-2 oilfield offshore Guyana on February 11, marking the start of their second development project at the Stabroek block.

Kawa-1 discovery raises questions

Guyana’s first commercial crude discovery beyond the Stabroek block has inspired calls for the creation of a new contract model that is more favourable to the government.

Chevron reportedly in talks with PdVSA

Chevron has reportedly entered into talks with Venezuela’s national oil company PdVSA over the US major’s aim to gain more control over its upstream assets in the South American state.

Liza Unity hook-up nearly complete

ExxonMobil (US) and its partners have nearly finished hook-up procedures for the Liza Unity, the FPSO that will support development operations at Liza-2, an oilfield at the Stabroek block offshore Guyana.

Mexican oil export cuts already affecting India

Mexico’s national oil company Pemex has reportedly slashed crude exports to India since the beginning of the year, in an apparent move to uphold its previously announced goal of making more feedstock available to domestic refiners.

Moody’s analyst says Pemex faces less risk of ratings downgrade in 2022

An analyst for Moody’s Investors Service has said that Mexico’s national oil company Pemex has reduced the risk of another downgrade in its credit rating this year.

YPFB reports major gas find in Margarita-10 well

Bolivia’s national oil company YPFB has announced a major natural gas discovery in the Margarita-10 well.

Karoon to buy carbon offsets for Baúna from Shell subsidiary

Karoon Energy (Australia) has arranged to acquire carbon credits to offset future greenhouse gas emissions from its development operations at Baúna, an offshore oilfield in the Santos basin offshore Brazil.

Bayphase consultancy to review Yellowtail FDP

Guyana’s government has named Bayphase Ltd, a UK-based consultancy, as the winner of a contest for the right to review and evaluate the $9bn field development plan for ExxonMobil's Yellowtail project.

Petrobras talks up potential of northern frontier basins, plans new exploration drive

Brazil’s national oil company Petrobras is talking up its plans for exploring frontier basins off the country’s northern coast that may hold large amounts of crude oil and natural gas.

Guyana reportedly exports first crude oil cargo to Brazil

Guyana has reportedly exported its first cargo of crude oil to an independent refinery in neighbouring Brazil.

LatAmOil: Guyana exports first crude cargo to Brazil

Guyana has reportedly exported its first cargo of crude oil from the Liza-1 field to an independent refinery in neighbouring Brazil.

PdVSA reportedly receives more Iranian condensate

Venezuela’s national oil company PdVSA has reportedly taken delivery of another shipment of Iranian gas condensate.

Discovery at Kawa-1

CGX and Frontera have become the first companies to find hydrocarbons in commercial quantities outside the Stabroek block in Guyana’s offshore zone.

ExxonMobil Guyana says Liza Destiny’s flash gas compressor is being upgraded

ExxonMobil Guyana, an affiliate of the US super-major ExxonMobil, has announced that upgrades on a new flash gas compressor for the Liza Destiny FPSO installed offshore Guyana are underway.

Aldana wins election as head of Pemex union despite criticism

Ricardo Aldana has been elected as head of the union representing workers at Mexico’s national oil company Pemex.

Sempra, CFE sign MoU on LNG, gas pipeline projects

Sempra Infrastructure, a division of US-based Sempra, has signed a memorandum of understanding with Mexico’s national power provider outlining plans for co-operation on several major projects.

Petrobras board approves sale of Potiguar Cluster to 3R

Brazil’s national oil company Petrobras said last week that its board of directors had approved plans for the sale of package of assets known as the Potiguar Cluster to 3R Petroleum Oleo e Gas.

Peru bars Repsol from unloading crude after oil spill at La Pampilla mooring

Peru’s Environment Minister Ruben Ramirez has said Repsol (Spain) will not be permitted to unload oil for its La Pampilla refinery until it can provide adequate technical guarantees with respect to its ability to handle spills.

ACP says Colombia’s oil and gas sector could see investment rise 42.1% this year

Investment in Colombian oil and gas projects has the potential to rise significantly this year by more than 40%, according to a private industry group known as the Colombian Petroleum Association (ACP).

GNA starts work on second TPP at Açu Gas Hub

Gas Natural Açu (GNA), the joint venture that is carrying out Latin America’s largest LNG-to-power project, has begun building GNA-II, its second natural gas-fired power plant at the Açu Gas Hub complex in Brazil.

OPEC+ makes quick decision but adding production will be harder

LatAmOil: Peru bars Repsol from unloading oil at La Pampilla

Peru’s Environment Minister Ruben Ramirez has said Repsol (Spain) will not be permitted to unload oil for its La Pampilla refinery until it can provide adequate technical guarantees with respect to its ability to handle spills.