LatAmOil - Latin America Oil & Gas

PetroRio completes tie-back system establishing Polvo-TBMT cluster

PetroRio has become the first independent Brazilian company to establish a private cluster of mature oilfields in the Campos basin by completing work on a tie-back system connecting the Polvo and Tubarão Martelo sites.

CGX, Frontera prepare to spud Kawa-1 exploration well at Corentyne block

CGX Energy and Frontera Energy are reportedly gearing up to spud the Kawa-1 exploration well at the Corentyne block offshore Guyana.

Argentina sanctions three companies for exploration work offshore Falklands

Argentina’s government revealed last week that it was imposing sanctions on three international oil companies (IOCs) that have been conducting exploration work off the coast of the Falkland Islands.

LatAmOil: CGX, Frontera prepare to spud Kawa-1 exploration well

CGX Energy and Frontera Energy are gearing up to spud the Kawa-1 exploration well at the Corentyne block offshore Guyana.

USMCA signatories remain concerned about Mexico’s energy policy

Washington and Ottawa are paying close attention to the Mexican president’s displays of favour for Pemex and other state-owned companies, according to US and Canadian trade officials.

Talos criticises SENER’s decision to name Pemex as the operator of Zama

US-based Talos Energy revealed earlier this week that Mexico’s Secretariat of Energy had stripped it of its position as operator of Zama, a large oilfield located off the coast of Mexico’s Tabasco State.

Petrobras hikes gasoline and diesel prices, to the dismay of truckers

Brazil’s national oil company Petrobras raised the price of gasoline and diesel earlier this week, in a move that has drawn sharp criticism from the country’s politically powerful trucking industry.

Mesa says Ecopetrol, IOCs are gearing up for offshore drilling

Colombian Energy Minister Diego Mesa expects the national oil company Ecopetrol and several international oil companies to launch new offshore drilling programmes by the end of next year.

Venezuelan oil exports rise in June

Venezuela succeeded in pushing oil export volumes up in June, partly as a result of efforts to send more crude to China before the introduction of a new import tax.

ExxonMobil drills dry hole at Jabillo-1

ExxonMobil has experienced a disappointment at the Canje block offshore Guyana, as it did not find commercial quantities of hydrocarbons in the Jabillo-1 well.

ExxonMobil secures extension of gas-flaring permit for Liza-1

ExxonMobil Guyana revealed last week that Guyanese authorities had approved its plan to extend a temporary increase in associated gas flaring levels at Liza-1, the first producing oilfield at the offshore Stabroek block.

TTNGL says it avoided losses in 2020

Trinidad and Tobago NGL Ltd (TTNGL), the National Gas Co. (NGC) affiliate that holds a 39% stake in Phoenix Park Gas Processors Ltd (PPGPL), revealed last week that it had avoided going into the red last year.

Fire erupts at Ku-Maloob-Zaap

Fire broke out last week at Ku-Maloob-Zaap, one of Mexico’s largest offshore oilfields, after a gas leak developed in a pipeline near the Ku-C drilling platform.

Vista, Trafigura team up for joint development of Bajada del Palo Oeste

Vista Oil & Gas, a Latin America-focused company with headquarters in Mexico City, has teamed up with Trafigura in a bid to accelerate development at a licence area in the Vaca Muerta shale formation in Argentina.

OPEC+ plans in disarray as meeting is cancelled

Lukoil to take the reins at Area 4

Russia’s Lukoil will acquire a 50% stake in the production-sharing agreement (PSA) covering Area 4, located offshore Campeche State in the southern Gulf of Mexico, from the site’s current operator PetroBAL (Mexico).

LatAmOil: ExxonMobil drills dry hole at Jabillo-1

ExxonMobil (US) has experienced a disappointment at Canje, a deepwater block offshore Guyana, as it did not find commercial quantities of hydrocarbons in the Jabillo-1 well.

Lukoil plans exit from West Qurna-2

Are US sanctions on Venezuela likely to be lifted any time soon?

Venezuelan President Nicolas Maduro is showing signs of willingness to make political concessions ahead of the November elections – and a determination to load the dice in his administration’s favour.

Petrobras will not relinquish control over RLAM immediately after sale

Brazil’s national oil company (NOC) Petrobras has indicated that it will retain control over the Landulpho Alves Refinery (RLAM) in Bahia State for more than a year after finalising the planned sale of the facility.

Citgo liquidates four subsidiaries in Aruba

A subsidiary of Citgo, the US-based refining arm of Venezuela’s national oil company (NOC) PdVSA, has scaled back its presence in Aruba, where its parent company had previously sought to refurbish the San Nicolas oil refinery.

CGC acquires Sinopec subsidiary in Argentina

Compañía General de Combustibles (CGC) of Argentina has expanded its holdings through the acquisition of Sinopec Argentina Exploration and Production, a subsidiary of the state-owned Chinese company Sinopec.

ExxonMobil submits GTP project summary to Guyana’s EPA

A subsidiary of US-based ExxonMobil has submitted a project summary document outlining its plans for a gas-to-power (GTP) scheme to Guyana’s Environmental Protection Agency (EPA).

Neuquén Province approves Vista’s plan to sell stake in CASO to Shell

Vista Oil & Gas has secured approval for plans to sell its 10% stake in Coirón Amargo Sur Oeste (CASO), a concession in the Vaca Muerta shale formation in Argentina, to Royal Dutch Shell.

Heritage Petroleum reports profits, revenues down in FY 2020

Heritage Petroleum, the national oil company (NOC) of Trinidad and Tobago, has revealed that its profits and revenues both declined in Fiscal Year 2020.