LatAmOil - Latin America Oil & Gas

Crude oil export tax will not be permanent, Brazilian finance minister confirms

Brazil’s Finance Minister Fernando Haddad has confirmed that the government’s newly introduced tax on crude oil exports is not a permanent policy but will instead be eliminated within four months.

COSCO shipyard and partners begin work on new P-82 FPSO for Petrobras’ Búzios oilfield

China's COSCO Shipping Offshore Engineering marked the beginning of construction on the P-82 FPSO bound for the Santos basin pre-salt area offshore Brazil.

Brazil’s Ministry of Mines and Energy hopes to make more gas available at lower prices

Brazil’s Ministry of Mines and Energy (MME) is in the process of developing a mechanism to make more natural gas available at lower prices.

PGS says deepwater blocks in Guyana licensing round may host trends similar to “Golden Lane”

Norway's PGS says in a new report that the deepwater sites included in Guyana’s ongoing offshore licensing round may host trends similar to the “Golden Lane” within the Stabroek block.

Ecuador burning crude oil in converted generators to reduce dependence on diesel imports

Petroecuador has started burning crude oil in 20 specially converted generating units in a bid to reduce its dependence on imported diesel fuel.

ExxonMobil suspends deepwater exploration in Brazil

ExxonMobil has suspended its exploration efforts in Brazil’s deepwater acreage after drilling a third dry hole in that country’s offshore zone.

ICJ confirms jurisdiction over Guyana-Venezuela border dispute

The International Court of Justice (ICJ) in The Hague has confirmed its jurisdiction over a long-standing border dispute between Guyana and Venezuela.

Staatsolie sees TotalEnergies making FID on Block 58 sometime in 2024

Suriname’s Staatsolie expects France’s TotalEnergies to make a final investment decision on the offshore licence area known as Block 58 before the end of 2024.

Brazil’s oil and gas production rises slightly in February

Brazil’s total hydrocarbon production climbed slightly to 4.183mn barrels of oil equivalent per day in February 2023, according to ANP data.

LatAmOil: PdVSA auditing accounts of country’s main petcoke exporter

Global gas flaring drops 3% in 2022

The global oil and gas industry managed to reduce gas flaring by 3% last year to 139 bcm, from 144 bcm in the previous year, the World Bank reported on March 29 in its new Global Gas Flaring Report (GGFR), despite oil output rising by 5% to 80mn bpd.

Conflict brewing between Lula and Prates?

Brazil’s president and his hand-picked Petrobras CEO do not appear to be in agreement about the best option for divestment of the NOC’s assets.

Cenagas launches first open season for gas transport capacity since 2017

Mexico’s Cenagas has launched an open season for firm natural gas transport capacity for the first time since President Andrés Manuel López Obrador took office in 2018.

EPA lauded for helping Guyana meet targets on road to oil production

Guyana’s Environmental Protection Agency (EPA) has praised for its role in the successful launch of oil production.

Rystad sees Brazil as front-runner in hydrogen adoption, reduced carbon emissions

Rystad Energy says Brazil’s energy sector has the technological capabilities required to become a front-runner in reducing carbon emissions intensity.

Peru LNG exports five cargoes in March

Peru LNG, the operator of a natural gas liquefaction plant and export terminal in Pampa Melchorita, saw total LNG export volumes remain almost unchanged month on month in March 2023.

PdVSA audits main petcoke exporter’s accounts amidst probe of $21.2bn in unrecovered debt

Venezuela's PdVSA is auditing accounts associated with Maroil Trading, which handles the majority of the country’s petroleum coke exports, within the framework of an anti-corruption probe.

ExxonMobil subsidiary to conduct additional biodiversity, environmental studies offshore Guyana

The Guyana-based affiliate of the US super-major ExxonMobil has announced plans to conduct further studies related to its oil and gas operations in the South American country’s offshore zone.

Wintershall completes acquisition of 37% stake in Hokchi block from PAE subsidiary

Germany's Wintershall Dea has completed the acquisition of a 37% share in the Hokchi block from the Mexican subsidiary of Argentina’s Pan American Energy (PAE).

Rystad reports on Vaca Muerta performance in 2022

Argentina’s Vaca Muerta shale formation saw improvements in production and well performance last year, though it also faced short-term takeaway constraints.

Enauta finishes ramping up production operations at Atlanta oilfield in Santos basin

Enauta Participações, the independent Brazilian oil company, has finished ramping up production operations at 7-ATL-5H-RJS (5H), a new well drilled at the Atlanta field in the Santos basin.

Karoon brings PAT-1 well on stream at Patola field offshore Brazil

Karoon Energy (Australia) has successfully commenced production at PAT-1, a new well drilled at Patola, an oilfield located offshore Brazil within the BM-S-40 licence area in the Santos basin.

OPEC+ announces surprise output cut

OPEC and several of its partners in the OPEC+ group made a surprise announcement over the weekend, declaring that they would make a voluntary oil production cut of 1.15mn barrels per day, which will run until the end of the year.

LatAmOil: Energy minister calls on Ecuador to cut 2023 oil output target

Pemex, Talos in deal for Zama development

Mexico’s NOC is touting a new arrangement that is supposed to allow its privately-owned US, German and UK partners the ability to collaborate in upstream decisions.