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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Brazilian industry struggling with fall of Bolivian gas supplies
Bolivia's falling gas reserves and reduced exports have prompted concerns for Brazil’s industrial players and the government. Consequently, Brazil has initiated a tender to procure gas from a third party to balance the system.
Brazil’s Petrobras seeks financing from Chinese banks for deepwater oil projects
In another sign of growing ties between Brazil's energy major and China, Petrobras is in talks with Chinese banks to secure financing for its expansion into deepwater oil projects and to help guarantee its suppliers can keep pace.
Mexican billionaire Carlos Slim acquires stake in Zama offshore crude field
US-based oil-and-gas company Talos Energy has concluded the sale of its 49.9% stake in Talos Mexico to Zamajal, a subsidiary of Carlos Slim’s Grupo Carso, which operates the large Zama offshore crude-oil field.
Mexico’s Pemex mulls charging Cuba for crude-oil deliveries
Struggling with its own financial woes, Pemex, Mexico's state-owned energy major, is mulling charging Cuba for the oil it sends to the beleaguered island. Mexico is keen to ensure such an action does not breach US sanctions, however.
Petrobras awards US Constellation $392mn offshore rig contract
Brazilian energy major Petrobras has awarded a $392mn contract for offshore drilling contractor Constellation's semi-submersible drilling rig called Alpha Star. Operations are to begin after the release of the rig from its contract with 3R Petroleum.
Mexico’s diesel prices set to increase after Russia’s oil-products exports ban
Diesel retail prices in Mexico have reached their highest point this year and are set to increase in October due to lower supply after Russia halted exports of diesel and gasoline.
More crude oil exploration and green ambitions not contradictory, Brazilian minister says
Brazil's energy minister, Alexandre Silveira, insists there is "no contradiction" between his country’s plans to increase oil and gas exploration and its ambition to lead the world in transitioning to green energy.
ANP planning to auction off more than 960 onshore, offshore blocks on December 13
Brazil’s ANP is gearing up to offer more than 960 onshore and offshore blocks to potential investors in mid-December.
Equinor submits development plan for Raia Manta and Raia Pintada gas fields to ANP
Norway’s Equinor has submitted a development plan for two natural gas fields in BM-C-33, an ultra-deepwater block in the Campos basin, to Brazil’s ANP.
ExxonMobil assures compliance with audit following recent controversy
ExxonMobil Guyana has issued a statement confirming its full co-operation with a government audit following concerns about the company’s expenses. This comes after $214mn in disputed expenses was identified in an audit.
Brazil’s diesel market hit by uncertainty as Russia halts oil products exports
Brazil’s diesel importers are being hit by uncertainty after Russia suspended exports of diesel and gasoline as it tries to stabilise domestic fuel prices and reduce supply shortages, Platts reported on September 22.
Brazil’s ethanol sales at the pump up in August, continue recovery trend
With drivers in Brazil turning to a more stable, domestic fuel, sales of hydrous ethanol at gas stations increased by nearly 11% in August, year on year. Biofuel consumption recovered in all of Brazil’s five main regions.
Equinor submits plans to develop gas fields in Brazil's Campos Basin
Norwegian oil-and-gas company Equinor, in collaboration with Repsol Sinopec Brasil and Petrobras, has submitted declarations of commerciality and development plans for two gas fields within the BM-C-33 concession in the Campos Basin.
Petroperu reports fire at New Talara refinery’s FCC unit
Peru’s national oil company, Petroperu, reported that a fire broke out at the fluidised catalytic cracking unit of the New Talara refinery. In a September 22 statement, Petroperu described the fire as minor.
Mexico’s gasoline imports hit a 17-month low in July
Mexico’s gasoline imports fell in July, year on year, and hit a 17-month low, according to the ministry of energy. Pemex, the state-owned energy major, was the main buyer of gasoline entering the country.
Guyana welcomes bids to market crude oil from three FPSOs
Hoping to strengthen its foothold in the global oil market, Guyana has invited companies to submit bids to market the country’s share of profit oil from three FPSOs working the Stabroek Block.
NGC provides for Shell to send part of its gas production from Manatee to domestic market
Shell (UK) has agreed to deliver a portion of future output from Manatee, an offshore natural gas field, to Trinidad and Tobago’s domestic market.
Mexico closes in on inauguration of first floating LNG facility
Mexico’s first floating LNG (FLNG) terminal is set to move one step closer to beginning commercial operations, with the final key infrastructure piece needed for the plant to start production slated to leave from a Texas shipyard this week.
Guyana VP says oil-blocks auction will proceed despite Venezuelan opposition
Guyana Vice President Dr. Bharrat Jagdeo confirmed that the ongoing auction for 14 offshore oil blocks will proceed as planned despite Venezuelan opposition to the bidding process.
Iran eyes stronger presence in Latin American petrochemical markets
The Iranian petrochemical industry is actively pursuing a stronger presence in Latin America, primarily by offering technical services to Brazil and Venezuela.
Venezuelan criticism of Guyana's offshore-rights auction sparks border dispute
Venezuela has rebuked Guyana's recent offshore-oil bidding round, saying that companies vying for up to eight blocks – a group that includes ExxonMobil and TotalEnergies – lack the rights to explore these disputed maritime areas.
Venezuela and Trinidad and Tobago sign agreement for joint hydrocarbons development
An accord signed between Venezuela and Trinidad and Tobago will soon enable the two countries to distribute gas from the Dragon field project in Venezuelan waters globally, according to President Nicolas Maduro.
Venezuelan oil company PDVSA loses legal battle over $348mn defaulted debt
Venezuela's state-run oil enterprise, PDVSA, cannot employ US sanctions as a justification for its failure to meet its obligations on $348mn in defaulted debt, a federal appeals court in New York has ruled.
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