LatAmOil - Latin America Oil & Gas

OPEC+ plans in disarray as meeting is cancelled

Lukoil to take the reins at Area 4

Russia’s Lukoil will acquire a 50% stake in the production-sharing agreement (PSA) covering Area 4, located offshore Campeche State in the southern Gulf of Mexico, from the site’s current operator PetroBAL (Mexico).

LatAmOil: ExxonMobil drills dry hole at Jabillo-1

ExxonMobil (US) has experienced a disappointment at Canje, a deepwater block offshore Guyana, as it did not find commercial quantities of hydrocarbons in the Jabillo-1 well.

Lukoil plans exit from West Qurna-2

Are US sanctions on Venezuela likely to be lifted any time soon?

Venezuelan President Nicolas Maduro is showing signs of willingness to make political concessions ahead of the November elections – and a determination to load the dice in his administration’s favour.

Petrobras will not relinquish control over RLAM immediately after sale

Brazil’s national oil company (NOC) Petrobras has indicated that it will retain control over the Landulpho Alves Refinery (RLAM) in Bahia State for more than a year after finalising the planned sale of the facility.

Citgo liquidates four subsidiaries in Aruba

A subsidiary of Citgo, the US-based refining arm of Venezuela’s national oil company (NOC) PdVSA, has scaled back its presence in Aruba, where its parent company had previously sought to refurbish the San Nicolas oil refinery.

CGC acquires Sinopec subsidiary in Argentina

Compañía General de Combustibles (CGC) of Argentina has expanded its holdings through the acquisition of Sinopec Argentina Exploration and Production, a subsidiary of the state-owned Chinese company Sinopec.

ExxonMobil submits GTP project summary to Guyana’s EPA

A subsidiary of US-based ExxonMobil has submitted a project summary document outlining its plans for a gas-to-power (GTP) scheme to Guyana’s Environmental Protection Agency (EPA).

Neuquén Province approves Vista’s plan to sell stake in CASO to Shell

Vista Oil & Gas has secured approval for plans to sell its 10% stake in Coirón Amargo Sur Oeste (CASO), a concession in the Vaca Muerta shale formation in Argentina, to Royal Dutch Shell.

Heritage Petroleum reports profits, revenues down in FY 2020

Heritage Petroleum, the national oil company (NOC) of Trinidad and Tobago, has revealed that its profits and revenues both declined in Fiscal Year 2020.

ExxonMobil to submit Yellowtail FDP in October

ExxonMobil Guyana aims to submit a field development plan (FDP) for Yellowtail, its fourth development at the Stabroek block offshore Guyana, early in the fourth quarter of 2021.

Eco Atlantic joins Canje project through purchase of 10% stake in JHI

UK-based Eco (Atlantic) Oil & Gas hopes to expand its foothold in Guyana’s offshore zone through the acquisition of a minority stake in JHI Associates (Canada), which is a shareholder in the Canje block.

ANP gives Enauta green light to claim 100% of Atlanta production

Brazilian independent Enauta Participações has secured government approval for the final step in its acquisition of BS-4, an offshore block within the Santos basin that contains the Atlanta oilfield.

Ecopetrol secures extension of exclusivity agreement for ISA stake acquisition

Colombia's government has extended the period during which Ecopetrol has the exclusive right to negotiate for a majority stake in ISA from June 30 to August 31.

LatAmOil: Ecopetrol given more time to prepare ISA offer

Colombia’s Ecopetrol says that the government will extend the period during which it has the exclusive right to negotiate for a 51.4% stake in Interconexion Electrica SA (ISA), the country’s electricity transmission operator.

USVI refinery to remain offline

Limetree Bay Ventures cites financial strains as the reason for its decision to suspend operations indefinitely at its refinery near St. Croix.

Customs agency says only Pemex may secure or renew fuel trade permits

Mexico's customs service has declared that Pemex is now the only company that will be allowed to secure new permits or to renew existing permits for the import and export of petroleum products.

Petrobras successfully appeals court case in Bolivia

Petrobras, the national oil company (NOC) of Brazil, revealed last week that its appeal of a court decision concerning the ownership of a large natural gas field in Bolivia had been successful.

Senate leader: Efforts to pass constitutional amendment likely to be “complicated”

Ricardo Monreal, the majority leader of Mexico’s Senate, does not expect President Lopez Obrador to have an easy time securing the passage of a constitutional amendment that gives CFE advantages over private suppliers.

Hess COO says Uaru-Mako complex may be fifth development target at Stabroek

According to Hess, ExxonMobil and its partners in the Stabroek block offshore Guyana are coming close to naming the Uaru-Mako complex as their fifth development target.

YPFB sees gas exports to Argentina remaining at 14 mcm per day

Bolivia’s national oil company (NOC) YPFB expects natural gas exports to neighbouring Argentina to remain at the level of 14mn cubic metres per day this winter.

Gasnorp adopts OPEN Smartflex solution for gasification project in Peru

Gasnorp, a subsidiary of the Colombian gas transportation company Promigas, will use software from Open International, a US-based company that develops solutions for utilities, to support a gasification project in Peru.

Petrobras rejects the only bid received for Bahia LNG lease

Brazil’s Petrobras revealed earlier this week that it had disqualified US-based Excelerate Energy from proceeding with its bid for the right to lease an underutilised LNG import terminal in Bahia State.

Aissami claims that PdVSA has boosted oil production, refinery throughput

Venezuela has more than doubled its oil production over the last 10 months and is poised to realise further gains before the end of the year, according to Oil Minister Tareck El Aissami.