LatAmOil - Latin America Oil & Gas

Venezuela ‘shipping jet fuel to Iran in return for vital gasoline imports from fellow sanctioned nation’

Barriers to Vaca Muerta gas development

Three industry experts speak to NewsBase about Argentina’s prospects for stepping up work at its vast unconventional gas fields in the Vaca Muerta basin.

LatAmOil: Mexican government offers support to Pemex

The Mexican government has offered fiscal support to Pemex.

Winter storm in Texas has repercussions further south

Mexico has suffered gas and electricity shortages since harsh weather interrupted pipeline deliveries.

Washington draws criticism from GAO, UN for Venezuela sanctions

The US government is drawing criticism for sanctions on Venezuela and its national oil company, with US legislators, the GAO and the UN asserting that trade restrictions have intensified the South American state's humanitarian crisis.

No decision yet on Petrotrin sale, energy minister says

Franklin Khan, Energy and Industries Minister of Trinidad and Tobago, said last week that the government had not yet decided whether to accept the bid made by a local trade union’s bid for the Petrotrin oil refinery.

Vaca Muerta oil production levels reported up in December

Production levels appear to be on the rise in Argentina’s Vaca Muerta shale basin, largely because developers are focusing more intently on unconventional oil production.

Venezuela charges head of PdVSA subsidiary with setting up black market LPG scheme

Venezuelan authorities have reportedly arrested the head of a subsidiary of the national oil company (NOC) PdVSA on charges related to black market sales of LPG.

Guyana trims 2021 oil output target

The government of Guyana has cut its forecast for oil output in 2021, Finance Minister Ashni Singh has said.

ExxonMobil contractor conducting technical assessment of Liza Destiny equipment

The US super-major ExxonMobil has sought advice from outside experts as it seeks to repair the Liza Destiny FPSO offshore Guyana.

Oil industry still waiting to learn outcome of Ecuador’s presidential election

Ecuador is heading for a second round of presidential elections, as none of the contenders secured a majority in the vote held last week. The outcome of the next round is likely to affect the country’s oil policy.

Frontera, CGX moving ahead with drilling plans at Demerara, Corentyne

Canada’s CGX Energy and its majority shareholder Frontera Energy have issued an update on their plans for exploration of their assets in Guyana.

Guyana’s government hopes to choose new oil marketing contractor by April

Guyana’s Vice-President Bharrat Jagdeo has said that Georgetown expects to choose a new contractor to market its share of oil from the Liza-1 field by April, when its next 1mn barrel cargo is scheduled to be loaded for export.

LatAmOil: Production and elections

As Argentina's oil production rises, Ecuador is still waiting for election results.

Is a trade dispute brewing between the US and Mexico?

Lopez Obrador’s efforts to help CFE dominate the power sector have implications for Mexico's oil and gas industry.

Petrobras receives binding offers for two refineries

Brazil’s national oil company (NOC) Petrobras reported earlier this week that it had received binding offers for two of the refineries included in its privatisation programme.

BPC reports non-commercial oil find

London-listed Bahamas Petroleum Co. (BPC) said earlier this week that it had discovered crude oil in Perseverance-1, the first well drilled at the offshore block known as the Southern Licences, but described the find as non-commercial in nature.

Yorio hails results of 2020 oil hedge

Mexico’s Finance Minister Gabriel Yorio has been talking up the results of last year’s oil hedge, saying that the deal allowed the government to “compensate for 80% of the fall in income”

Chinese company joins Brazilian LNG-to-power project

China’s State Power Investment Corp. (SPIC) has completed its acquisition of a stake in Gas Natural Açu (GNA), Latin America’s largest LNG-to-power project.

Colombia gives Ecopetrol exclusive right to negotiate for ISA stake

Colombia’s government has pledged to begin negotiations with Ecopetrol, the national oil company (NOC), on the sale of a majority stake in Interconexion Electrica SA (ISA), the country’s electricity transmission system operator (TSO).

ExxonMobil says gas leak was discovered when Liza-1 production was above peak levels

ExxonMobil has revealed that production rates at the Liza-1 oilfield were running about 8.33% above the anticipated peak of 120,000 barrels per day (bpd) when equipment problems forced it to resume gas flaring.

Guyana’s VP says work on gas pipeline studies will begin this year

Bharrat Jagdeo, Vice-President of Guyana, said earlier this week that the government intended to carry out several studies this year in order to move forward with a gas-to-power (GTP) scheme.

Petroperú hopes $1bn bond issue will help raise funds for refinery upgrade

Petroperú, the national oil and gas operator of Peru, launched a bond issue worth $1bn last week in a bid to raise funds for the modernisation of the Talara oil refinery.

OCP plans new bypass pipeline following landslide

Heavy Crude Pipeline (OCP), the operator of a private oil pipeline system in Ecuador, is set to build a new bypass to prevent stoppages due to storms and natural disasters.

YPF secures more support for exchange of bonds due to mature in March

Argentina’s national oil company (NOC) YPF has reportedly secured approval for a proposed securities swap from creditors holding more than half the bonds that are due to mature next month.