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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Biden reimposes oil sanctions on Venezuela
The US will re-impose sanctions on Venezuela’s oil and gas sector because President Nicolás Maduro’s socialist regime has “fallen short” on commitments to hold free and fair presidential elections, said the US State Department on April 17.
ExxonMobil's Whiptail Project facilitates shared reservoir extraction in Guyana's Stabroek block
ExxonMobil's newly approved Whiptail project is poised to extract oil from reservoirs overlapping with those of two other ventures within the Stabroek Block – Yellowtail and Uaru.
ExxonMobil Guyana makes final investment decision on Whiptail project
ExxonMobil greenlit its sixth development project in Guyana's Stabroek Block, named Whiptail, which commands an estimated investment of $12.7bn.
Pipe producer Strohm secures major contract with ExxonMobil for Whiptail Project in Guyana
Strohm, a leading provider of thermoplastic composite pipe (TCP) technology, has clinched a significant contract from ExxonMobil for the provision of pipes destined for the Whiptail project, situated offshore Guyana.
ExxonMobil executives earn salary increases as Stabroek Block output boosts profits
ExxonMobil's profits from its operations in Guyana's Stabroek Block have translated into hefty salary increases for its top executives, Kaieteur News reported, with chairman and CEO Darren Woods set to earn an additional $94,000 annually.
Guyana President urges swifter payment for oil contractors
Guyana's President, Mohamed Irfaan Ali, has voiced concerns over the 45-day payment period for oil companies to settle invoices with contractors, deeming it excessively lengthy.
UN Security Council to review Venezuela's territorial claim over Guyana's Essequibo region
Guyana has requested that the UN Security Council reassess Venezuela's territorial claims over the oil-rich Essequibo region, which has been under Guyana's jurisdiction since 1899. Caracas, however, annexed the region to its official maps in 2023.
Miko Marine to supply sea inlet coversfor Guyana's Errea Wittu FPSO
Miko Marine, a Norwegian company specialising in marine solutions, clinched a contract to supply sea inlet covers for Guyana's Errea Wittu FPSO.
LNG reigns supreme in low-carbon bunkering
ExxonMobil executives earn salary increases as Stabroek Block output boosts profits
ExxonMobil's profits from its operations in Guyana's Stabroek Block have translated into hefty salary increases for its top executives, Kaieteur News reported, with Chairman and CEO Darren Woods set to earn an additional $94,000 annually.
US likely to reimpose sanctions on Venezuela over election concerns
The United States will likely not renew a temporary licence that has provided significant relief from sanctions on Venezuela's oil and gas exports, unless President Nicolas Maduro makes notable strides towards free and fair elections this year.
Venezuela detains top energy officials amid probe into lost oil revenue
Venezuelan authorities apprehended two senior energy officials on April 14, following the recent arrest of a former oil minister, as part of an inquiry into substantial revenue losses at the national oil company PDVSA.
US Treasury extends Citgo creditor protection amid Venezuela debt talks
The US Treasury Department has granted an extension until mid-August for a licence safeguarding Venezuela-owned oil refiner Citgo Petroleum from creditors aiming to enforce judgments related to past expropriations and debt defaults.
Mexico Pacific announces Sarah Bairstow as new CEO
LNG developer Mexico Pacific has announced the appointment of Sarah Bairstow as the company’s new CEO.
Chevron-Hess merger may be postponed due to arbitration over Guyana Stabroek block stake
Hess Corporation reported in a filing to the US Securities and Exchange Commission (SEC) that its acquisition by Chevron Corporation may be delayed until 2025.
S&P projects Guyana's oil exports to triple in revenue by 2030
S&P Global Commodity Insights stated in a report that it expects Guyana’s annual oil exports to triple in value from $11bn in 2023 to $33bn in 2030.
What next for oil markets after Iranian strike on Israel?
For the time being, traders have apparently shrugged off fears of a direct war between Israel and Iran, but escalation is still a significant risk.
Saipem authorised for Whiptail oilfield project in Guyana's Stabroek Block
Italian oilfield services company Saipem has received authorisation from ExxonMobil Guyana to proceed with its scope of work for the Whiptail oilfield development project in the Stabroek Block.
ExxonMobil advances drilling operations at the Uaru well site in the Stabroek Block
ExxonMobil Guyana is progressing with drilling operations at the Uaru well site within Guyana’s Exclusive Economic Zone, as confirmed by Guyana’s Maritime Administration Department on April 6, 2024.
Mexico’s regulator levies $32.1mn fine on Chevron for contract violation
Chevron Energía de México is facing a hefty penalty of $32.107mn imposed by the energy regulator the Comisión Nacional de Hidrocarburos (CNH) for its failure to meet the minimum work programme requirements in a deepwater contract.
ExxonMobil Guyana makes final investment decision on Whiptail Project
ExxonMobil greenlit its sixth development project in Guyana's Stabroek Block, named Whiptail, which commands an estimated investment of $12.7bn.
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