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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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.
Guyana’s EPA hopes to conclude environmental guarantee agreement on Stabroek soon
Guyana’s EPA hopes to conclude an environmental guarantee agreement on Stabroek soon.
Braskem Idesa CEO says disputes with Pemex have been resolved
Stefan Lepecki, the CEO of the Brazilian-Mexican joint venture Braskem-Idesa (BI), said last week that his company had finally resolved its ongoing disputes with Mexico’s national oil company Pemex.
Eco Atlantic aims to expand Guyana foothold by acquiring JHI
UK-based Eco (Atlantic) Oil & Gas has expanded its foothold in Guyana’s offshore zone by striking an agreement on the acquisition of JHI Associates, which holds a 17.5% working interest in the Canje block.
LatAmOil: Eco Atlantic to expand Guyana foothold via acquisition of JHI
UK-based Eco (Atlantic) Oil & Gas has expanded its foothold in Guyana’s offshore zone by striking an agreement on the acquisition of JHI Associates, which holds a 17.5% working interest in the Canje block.
Russia-Ukraine conflict triggers a change in US-Venezuela relations
US sanctions on Venezuela may be on the chopping block as Washington looks for ways to make more oil available.
CNOOC subsidiary to acquire another 5% of Búzios section of Transfer of Rights area
Brazil’s national oil company Petrobras will assign a 5% stake in the production-sharing contract covering the Búzios section of the transfer of rights (TOR) offshore area to a subsidiary of CNOOC.
Guyana’s attorney general defends government’s support for oil development
Guyanese Attorney General Anil Nandall has spoken in favour of the government’s economic agenda in response to criticism from several NGOs that have raised objections to Georgetown’s promotion of upstream oil development.
Argentina reportedly in discussions with several potential LNG suppliers
Argentina’s Economy Minister Martin Guzman said on March 9 that Buenos Aires was holding discussions with several companies on an LNG supply deal for the coming winter.
Study: Gas flaring rose nearly 50% in Mexico between 2018 and 2020
Mexico’s associated gas flaring volumes rose by nearly 50% between 2018 and 2020, according to a study that the Colorado School of Mines’ Earth Observation Group (EOG) carried out for Reuters.
Minister: Jamaica has enough oil and fuel in storage to weather high prices
Jamaica’s Minister of Science, Energy, and Technology Daryl Vaz sought last week to provide assurances that the country has sufficient fuel reserves as oil prices rise following Russia's invasion of Ukraine.
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