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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ExxonMobil identifies Uaru-2 as target of fifth development project
ExxonMobil Guyana, a subsidiary of the US super-major ExxonMobil, confirmed last week that it had selected Uaru-2 as the target of its fifth development project at the Stabroek block offshore Guyana.
Rystad Energy, CGX exec say Kawa-1 find has de-risked Guyana’s offshore zone
Rystad Energy, a Norway-based energy consultancy, says the recent find at the Corentyne has helped settle the question of whether ExxonMobil’s Stabroek block will be the only success in Guyana’s offshore zone.
Monterra demands return of Tuxpan fuel terminal
Monterra Energy says it is prepared to seek arbitration if Mexico City does not surrender control of the Tuxpan fuel terminal, which has remained closed since last September.
Phoenix Development Co. awards FEED contract for proposed gas and LNG hub offshore Suriname
Houston-based Phoenix Development Co. (PDC) has signed a contract with Dallas-based Schwob Energy Services (SES) for front-end engineering and design services on a gas hub and LNG plant offshore Suriname.
SENER moves to put restrictions on fuel import permits back into place
Mexico’s Energy Secretariat (SENER) has issued a decree lifting a court ruling that suspends the enforcement of a regulation designed to make fuel import permits harder to obtain.
Cayman Islands power provider considers switching from diesel to gas
Caribbean Utilities Co. (CUC), the national power provider of the Cayman Islands, is reportedly considering switching from diesel to regasified LNG as its main fuel for electricity generation.
TotalEnergies reports new oil discovery in Krabdagu-1 well offshore Suriname
TotalEnergies (France) and its US-based partner APA Corp. have reported a new discovery in the Krabdagu-1 exploration well at Block 58 offshore Suriname.
LatAmOil: TotalEnergies strikes oil again offshore Suriname
TotalEnergies (France) and its US-based partner APA Corp. have reported a new discovery in the Krabdagu-1 exploration well at Block 58 offshore Suriname.
AMLO’s ambitions for energy security heading for a brick wall
Mexico's president wants to make the country self-sufficient by letting state-run companies dominate the oil, gas and power sector, but he may be encouraging higher dependence on imports.
Argentinian court orders YPF, Shell, Equinor to put offshore seismic survey plans on hold
An Argentinian court has blocked YPF and its partners from moving ahead with seismic surveys at offshore blocks located off the coast of Mar del Plata.
Brazilian gas executives say lack of access to pipelines, processing facilities is slowing reforms
Executives from several Brazilian companies said last week that natural gas reforms were running into challenges because of questions about access to pipelines and processing facilities.
VP says Guyana may use unassigned blocks to establish NOC
Guyana’s government may establish a national oil company on the basis of unassigned blocks in the country’s offshore zone, according to Vice President Bharrat Jagdeo.
Petrobras reiterates commitment to gas market liberalisation
Brazil’s national oil company Petrobras has reiterated its commitment to fostering competition in the natural gas sector, even as it remains the country’s leading supplier of gas.
Ecopetrol CEO says his company is ready to go to court to enforce its legal right to explore
Felipe Bayon, the CEO of Colombia’s national oil company Ecopetrol, has said that he is ready to push back if Gustavo Petro becomes president and calls a halt to new hydrocarbon exploration.
Paraguay hikes fuel prices in about-face on earlier pledges of short-term stability
Paraguay’s state-run petroleum product concern raised prices for most types of motor fuel at the weekend, abandoning previous pledges to keep prices stable at least until the end of this month.
LatAmOil: ExxonMobil brings second oilfield on stream offshore Guyana
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.
Deputy minister says Margarita-10 find highlights Bolivia’s need for new gas law
Raúl Daniel Mayta Jiménez, Bolivia’s deputy minister of hydrocarbon and energy, said last week that the discovery of new natural gas reserves at the Margarita-10 well highlighted the need for changes in the oil and gas laws.
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.
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