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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Competing objectives in the Amazon rainforest
The Belem Declaration is not likely to have much of an impact on oil and gas drilling in the river basin, especially since it was drawn up by parties that are not in agreement on the issue.
Colombia’s Ecopetrol reports 61% y/y decline in net profit in Q2
Ricardo Roa, CEO of the state-controlled oil company, stated during a press conference in Bogota that the decline is attributed to a decrease in oil prices, which fell from $105 per barrel in the first half of the previous year to the current $80.
Guyana government seeks additional GYD5bn for gas-to-energy project
The government of Guyana has requested additional funding from Parliament of GYD61bn ($291.9mn) for various initiatives this year. GYD5bn of these funds are expected to be put towards the country’s gas-to-energy project.
Residents in the area of Argentina's Vaca Muerta lack heat and power
Residents of the rural Argentinian town of Añelo are suffering from a lack of heat and power, even as efforts to ramp up unconventional hydrocarbon exploration and development work at nearby fields proceed.
Peru LNG reports export volumes down more than 55% in July
Peru LNG saw its LNG export volumes sink by more than 55% month on month in July 2023.
Bolivia’s YPFB makes significant gas discovery
YPFB, Bolivia's state-owned energy firm, has made a significant discovery of a fresh natural gas reservoir. Situated in the Santa Cruz department, the gas field has an estimated 0.7 trillion cubic feet of gas, and 52mn barrels of liquids.
Europe identified as top buyer of Guyana's Liza and Unity Gold crude
Europe has emerged as one of the largest buyers of Guyana’s Liza and Unity Gold crude, as revealed by S&P Global Commodity Insights’ oil pricing and news expert Patrick Harrington. This comes as Europe turns to alternative sources of energy.
APA says appraisal drilling confirms extent of Krabdagu oilfield at Block 58
US-based APA Corp. says appraisal drilling confirms that reserves at the Krabdagu field at Block 58 off the coast of Suriname extend significantly beyond the initial discovery site.
APA discovers extension of oil resources in Suriname
APA Corp's exploration of a recent appraisal well in Block 58 off Suriname's coast led to the discovery of an extension of oil resources 14 kilometres from the discovery well.
Guyana's VP hits back at critics of gas-to-energy project
The vice president of Guyana, Bharrat Jagdeo, blasts the criticism directed at the nation’s gas-to-energy project. He insists gas is being used to transition the country away from the use of heavy fuel oil.
Colombia appoints new mining and energy minister
Colombia's Ministry of Mines and Energy announced on August 4 that Omar Andres Camacho had been confirmed as the new minister.
Canada’s New Stratus and GoldPillar to seek joint venture with Venezuelan state oil giant PdV
Bolivia’s YPFB sells $1.2bn of natural gas in H1 2023
Bolivia’s national oil company (NOC) YPFB sold over $1.2bn of natural gas to customers in Bolivia as well as Brazil and Argentina in the first half of 2023.
Brazil’s Migratio aims to tap into biomethane market
Brazil’s RRC signs deal with Trident Energy to decommission subsea assets in Campos basin
RRC Tecnologia e Inovacao has signed a 12-month consultancy contract with Trident Energy do Brasil for the decommissioning of flexible pipelines and subsea equipment in the Campos basin west of Rio de Janeiro.
Mexico Pacific signs 20-year contract with ConocoPhillips for natural gas supply
Mexico Pacific has signed a 20-year sales and purchase agreement to supply liquefied natural gas (LNG) to US energy major ConocoPhillips, the Mexican LNG developer said on 3 August.
Mexico’s Finance Ministry administers capital injection to Pemex
Mexico’s Pemex received a capital injection of almost MXP65bn ($3.82bn) last week from the Finance Ministry.
Venezuela's crude exports reach record levels in July
Venezuela registered a significant boost in oil exports in July, reaching levels not seen in more than three years. This upturn is attributed to new supply contracts and increased shipments by US producer Chevron.
Wood Mackenzie sees Bolivia becoming net gas importer by 2030
Wood Mackenzie has said it expects Bolivia’s natural gas production and exports to decline dramatically enough to transform the country into a net importer by the end of the decade.
Hess COO sees Payara oilfield reaching full capacity in five months
Hess COO Greg Hill expects Payara, the third oil development project at the Stabroek block offshore Guyana, to be yielding 220,000 barrels per day (bpd) of oil within five months of beginning production.
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