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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Bayphase awarded consultancy contract for review of Uaru field development plan, ESIA
Guyana has hired Bayphase Ltd, a UK-based consultancy, for the review and evaluation of the work plan for Uaru, the fifth development target at Stabroek.
Rockhopper says Navitas may make FID on Sea Lion project in 2024
Rockhopper (UK), a partner in the Sea Lion project offshore the Falkland Islands, confirmed last week that a final investment decision may be reached in 2024.
Ecopetrol chairman calls on company to increase production in order to finance energy transition
Saul Kattan, the chairman of Ecopetrol, says the firm must focus on increasing oil and gas production in order to cover the cost of the energy transition.
US to issue ultimatum as Mexico reverses energy reform
The administration of US President Joe Biden will issue an “act now or else” missive in the next few weeks to Mexico over the two countries’ energy trade dispute.
Excelerate’s Excelsior FSRU will interrupt German charter for seasonal service in Argentina
Excelerate Energy has confirmed that its FSRU Excelsior will suspend its German charter to serve as an LNG import facility on a seasonal basis at the Bahia Blanca terminal in Argentina.
Shell signs third supply deal with MPL for supplies from Saguaro Energia
A subsidiary of Shell (UK) has signed a 20-year LNG supply contract with Mexico Pacific Ltd (MPL), the developer of Saguaro Energia.
Petrobras CEO reiterates commitment to fossil fuel production
Jean Paul Prates, the CEO of Brazil’s Petrobras, has reaffirmed his company’s continued commitment to oil and gas even as the world continues to move away from fossil fuels.
Energy minister urges Ecuador to cut oil output target by 40,000 bpd in 2023
Ecuador’s Energy Minister Fernando Santos has said that the country ought to reduce its oil production target by 40,000 bpd due to protests, natural disasters and other disruptions.
Nuevo Leon state government threatens to penalise Pemex for incident at Cadereyta refinery
The state government of Nuevo Leon in northern Mexico has threatened to penalise Pemex for a recent incident that led to an increase in visible emissions from the Cadereyta refinery.
Trinidad and Tobago’s former energy minister says lagging gas output undermines IMF optimism
Trinidad and Tobago's former energy minister has cited lagging gas output as reason to doubt the IMF's optimism about the potential for the country's economy to grow this year.
Guyana goes public with new model contracts
Guyana's Ministry of Natural Resources releases new model contracts for offshore blocks.
Maduro appoints new petroleum minister
Venezuelan President Nicolas Maduro revealed on March 21 that he had appointed Pedro Rafael Tellechea, the head of PdVSA, to serve as the country’s new petroleum minister.
Brazilian gas distributors introduce new captive consumer tariff
Brazil’s domestic natural gas distributors have introduced a new captive consumer distribution tariff.
EPA dismisses critics’ demand for “unlimited insurance” against oil spills at Stabroek
Guyana’s Environmental Protection Agency (EPA) has dismissed critics’ demands for “unlimited” insurance coverage against oil spills at the Stabroek block.
UK court says Serious Fraud Office may seize funds from former Petrobras employee’s account
A London court has ruled that the UK government’s Serious Fraud Office (SFO) may seize nearly $8mn in illicit cash linked to a wide-ranging corruption scandal involving Brazil’s Petrobras.
Hess CEO: New exploration well to be spudded at Block 42 offshore Suriname later this year
Hess Corp. has said that a new exploration well will be spudded at Block 42 offshore Suriname later this year.
Brazil’s National Council for Energy Policy will draft bill to stimulate gas sector
The Brazilian government’s National Council for Energy Policy (CNPE) intends to draw up a bill for the purpose of raising domestic gas production.
Peru LNG exports five cargoes in February
Peru LNG, the operator of a natural gas liquefaction plant and export terminal in Pampa Melchorita, saw total LNG export volumes rise slightly month on month in February 2023.
BW Energy resumes process of acquiring Petrobras’ stakes in Camarupim, Golfinho clusters
Norway's BW Energy is resuming the process of acquiring Petrobras’ stakes in the Golfinho and Camarupim deepwater oilfields and is also buying the FPSO used to develop the sites from Italy’s Saipem.
Eni strikes oil at Yatzil field in Block 7
Eni (Italy) has found oil at Yatzil, a prospect within Block 7, a licence area in the Cuenca Salina section of the Sureste basin offshore Mexico’s Tabasco State.
Biomass power generation exceeds natural gas in Brazil
According to a report by Brazil’s Union of the Sugarcane and Bioenergy Industry (UNICA), in 2022, electricity production from various biomasses exceeded that from natural gas.
Jagdeo comments on Guyana’s plans for developing offshore gas reserves
Guyana’s Vice President Bharrat Jagdeo sees his country's untapped natural gas reserves as the next priority for development now that efforts to exploit offshore oilfields are underway.
CAF to lend funds to cover $540mn of new gas pipeline’s cost in Argentina
Argentina has secured an $840mn loan from the Development Bank of Latin America (CAF) for the funding of multiple projects, including the construction of the President Néstor Kirchner Gas Pipeline (PNKG).
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