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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US Gulf Coast sees oil supply disruptions from Mexican outage
The US Gulf Coast was facing disruptions to its crude supplies as a result of an outage in Mexico this week.
On Guyana’s future prospects
IEEFA, a US-based non-profit, says the Stabroek contract may unfairly curb Guyana’s earnings from oil sales. Its arguments may have the effect of drying up funding for future investors seeking to follow ExxonMobil’s example.
CGX, Frontera spud Kawa-1 at Corentyne
CGX Energy and Frontera Energy, both based in Canada, have spudded the Kawa-1 exploration well at the Corentyne block offshore Guyana.
ExxonMobil, partners agree on seven-month extension for second well at Kaieteur
ExxonMobil (US) and its partners in the Kaieteur block offshore Guyana have agreed to push the deadline for drilling their second exploration well back by seven months.
Brazil, Argentina begin negotiations on Vaca Muerta gas pipeline
Brazil and Argentina have begun negotiations on a multi-billion-dollar pipeline project that would facilitate exports of gas from fields in the Vaca Muerta shale formation, Brazilian President Jair Bolsonaro said last week.
Brazilian gas output hits new record high in July
Production of natural gas in Brazil reached a new high of 139mn cubic metres per day in July, slightly above the previous record high of 138.7 mcm per day reported in January 2021, according to newly released statistics.
Guyana, Suriname expect drilling activity to remain high for next two years
Guyana and neighbouring Suriname are expecting exploration drilling to remain at a high level over the next two years.
BW Tatiana FSRU heading to El Salvador for EDP’s LNG-to-power project
BW LNG, a subsidiary of Singapore-based BW Group, and its partner Invenergy (US) have moved one step closer to launching an LNG-to-power project in El Salvador following the completion of work on the BW Tatiana FSRU.
Enagas, Acciona Energía, GNL Quintero team up for green hydrogen project
Two Spanish companies are looking to build a green hydrogen production facility at Chile’s Quintero LNG import terminal.
LatAmOil: Green hydrogen plans for Chilean LNG terminal
Two Spanish companies are looking to build a green hydrogen production facility at Chile’s Quintero LNG import terminal.
Citgo posts first profit in seven quarters
Citgo Petroleum, the US refining business of Venezuela’s state-owned PdVSA, has reported a narrow second-quarter profit of $3mn, its first in seven quarters.
Venezuelan government, opposition agree to begin talks
Venezuelan officials have met with representatives of opposition parties in Mexico City to discuss negotiating an end to the political stand-off that has damaged the country’s economy by limited investment in oil and gas.
Cabinet minister says Guyana is drawing up master plan for gas
Guyana’s Minister of Natural Resources Vickram Bharrat says the government is drawing up a master plan to direct the delivery of associated gas from the Liza oilfield to the domestic market.
Costa Rica aims to pass law forbidding oil and gas exploration
The government of Costa Rica has signaled that it wants to give regulations prohibiting oil and gas exploration the force of law.
Lukoil spuds Yoti West-1X well at Block 12 offshore Tabasco
Russia’s Lukoil said earlier this week that it had spudded its first exploration well at the Block 12 licence area in the southern Gulf of Mexico.
Aquaterra Energy completes engineering design for renewable-powered rig
UK-based Aquaterra Energy has completed the engineering design for a renewable energy-powered drilling platform that will be installed at the Zandolie field in Trinidad and Tobago’s offshore zone.
Peru prioritises ESG issues
Ivan Merino, Peru's new energy minister, has indicated that President Pedro Castillo will link permits and approvals to resource developers’ willingness to invest in social projects that help host communities.
Peruvian energy minister comments on government’s plans for PetroPerú
Peru’s new government, headed by President Pedro Castillo, has continued to reveal more information about its plans for raising the profile of the national oil company (NOC) PetroPerú.
Brazilian government may use oil royalties to cover LPG subsidy programme
The Brazilian government may use royalty payments from the oil industry to subsidise free LPG supplies for impoverished families, according to a Reuters report.
Pemex reportedly lacks funds for Zama project
Pemex is short of the funds it will need to develop Zama, a major oilfield located off the coast of Tabasco state, sources familiar with discussions at the national oil company (NOC) told Bloomberg last week.
Guyana’s president outlines plans to establish Petroleum Commission by year-end
Irfaan Ali, the president of Guyana, said last week that his administration intended to establish a new government agency to oversee the country’s fledgling oil industry before the end of the year.
LatAmOil: Guyana to establish Petroleum Commission by year-end
Irfaan Ali, the president of Guyana, said last week that his administration intended to establish a new government agency to oversee the country’s fledgling oil industry before the end of the year.
Ecopetrol’s $3.6bn bet on energy transition
Colombia’s NOC Ecopetrol has acquired a majority stake in ISA, the country’s TSO, and hopes the deal will help it accelerate the pace of expansion into renewable energy
ExxonMobil seeks green light for 12-well drilling programme at Canje block
Guyana’s Environmental Protection Agency (EPA) said at the weekend that ExxonMobil had requested permission to launch a 12-well drilling programme at the offshore Canje block.
Guyana green-lights plan for more oversight of land acquisition for oil projects
Guyana’s National Assembly voted on August 9 to approve a new bill that aims to ensure appropriate government oversight of operations involving the acquisition of privately-owned land for major hydrocarbon projects.
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