LatAmOil - Latin America Oil & Gas

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Oil & Gas

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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Negotiating room left in the US’s Venezuela oil sanctions

26 April 2024

Despite US oil sanctions returning to Venezuela, there's still space for negotiation with the Maduro-led administration via special licences.

Poland’s Orlen cancels Venezuelan oil contracts amidst financial turmoil

26 April 2024

Polish oil giant Orlen finds itself entangled in a financial quagmire as it cancels contracts worth over $400mn with Venezuela amid a swirl of missed deliveries and questionable dealings, as the US reimposes sanctions on Caracas.

GeoPartners to collaborate with Staatsolie on oil seep deal offshore Suriname

25 April 2024

UK-based geological consulting firm GeoPartners Ltd has entered into an agreement with Suriname’s national oil company Staatsolie and Netherlands-based TROIS Geoconsulting to collaborate on an oil seep study offshore Suriname.

Guyana's Stabroek Block production rises by 38% in first quarter of 2024

25 April 2024

Production in the Stabroek Block offshore Guyana rose by 38% over the first quarter of 2024 compared to the previous quarter.

MidOcean Energy completes acquisition of SK Earthon's stake in Peru LNG

25 April 2024

MidOcean Energy completes acquisition of SK Earthon's stake in Peru LNG, boosting South America's LNG export capacity

Bolivian gas plant seized in Comarapa amid boundary dispute

25 April 2024

An ongoing boundary dispute triggered the occupation of a gas facility in the Bolivian town of Comarapa. Local residents in the municipality of Santa Cruz accused the National Institute of Agrarian Reform of wrongly delineating community boundaries.

Eni granted exploration well in Gulf of Mexico

25 April 2024

Eni Mexico has achieved a significant milestone with the approval from Mexico's upstream regulator to commence drilling the exploration well, Yopaat 1, within its Area 9 blocks situated in the deepwater Gulf of Mexico.

Helix Energy set to secure $500mn-plus Petrobras contract for well intervention vessel

25 April 2024

Helix Energy Solutions is poised to secure another lucrative contract with Brazil’s national oil company (NOC) Petrobras’ offshore operations.

Petrobras sells Cherne and Bagre fields to Perenco, Buzios surpasses 1bn barrels produced

25 April 2024

Brazil's national oil company Petrobras has reached an agreement to sell its entire stake in the Cherne and Bagre fields, situated in shallow waters in the Campos Basin, to Perenco.

Unpacking the return of Venezuela oil sanctions

25 April 2024

The United States has decided not to renew General Licence 44, which previously authorised transactions linked to Venezuela's oil and gas sector, penalising PDVSA.

Venezuela’s PDVSA eyes expanded cryptocurrency use amid renewed US sanctions

25 April 2024

Venezuela's state-owned oil company, PDVSA, is ramping up its utilisation of digital currencies for crude and fuel exports as the United States reinstates oil sanctions on the nation.

ExxonMobil and Chevron over Guyanese oil assets triggers investigation by US federal agencies

25 April 2024

The clash between oil giants Chevron and ExxonMobil over their Guyanese oil resources has ignited a probe into their assets by two key federal agencies in the United States.

Paraguay plans gas pipeline to transport Vaca Muerta gas to Brazil

24 April 2024

Paraguayan officials have held discussions with representatives from Techint, Tecpetrol, and Pluspetrol to explore the construction of a gas pipeline originating from the Neuquén basin. The proposed project entails a 1050-kilometre route.

Colombian regulator eases oversight on PDVSA local subsidiary

24 April 2024

Colombia’s Superintendencia de Sociedades, a government regulator, has lifted PDVSA Gas Sucursal Colombia – a local subsidiary of the Venezuelan state-owned oil company – from the highest tier of supervision, termed “control”.

ExxonMobil surpasses Tesla market value due to Guyanese oil development

24 April 2024

American oil industry ExxonMobil Corporation has surpassed electric vehicle pioneer Tesla Inc. in market value for the first time in over a year.

China eyes discounted Venezuelan crude as India retreats amid renewed US sanctions

24 April 2024

China is poised to see a surge in Venezuelan crude imports as India reevaluates its purchases following the reinstatement of US sanctions on Venezuela's oil and gas sector, according to industry sources.

Oilfield services giant SLB reports robust Q1 2024 results, plans $7bn shareholder return

24 April 2024

Oilfield services giant SLB has unveiled its first-quarter 2024 results, reporting robust revenue growth and outlining strategic initiatives to return $7bn to shareholders over the next two years.

Venezuela and Vietnam forge strategic agreements for industrial and economic development

24 April 2024

Venezuelan President Nicolás Maduro and Vietnamese Deputy Prime Minister Tran Luu Quang have inked a series of significant agreements aimed at advancing industrial, oil, and food development between their respective nations.

IMF raises Guyana GDP growth forecast amid burgeoning oil industry

23 April 2024

The April 2024 World Economic Outlook report by the International Monetary Fund has singled out Guyana as the only Western Hemisphere nation poised for double-digit gross domestic product growth this year.

ExxonMobil Guyana on lookout for maintenance contractors for Gas-to-Energy project

23 April 2024

ExxonMobil Guyana released a Request for Information searching for contractors to maintain a 25km onshore pipeline in its Gas-to-Energy project.

Bolivia's YPFB revitalises wells in Tarija, aims to boost hydrocarbon reserves

23 April 2024

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Bolivia's state-owned oil company, has been engaged in efforts to revitalise four wells located in Tarija's Ibibobo, Huayco, and Algarrobilla fields.

Petrobras leadership woes recede, dividend policy pleases all parties

23 April 2024

Brazil’s Petrobras starts the week of its annual general meeting in calmer waters after the suspension of the NOC’s chairman last week was cancelled soon after by a higher court. Moreover, the company’s board finally approved its dividend policy.

Talos awards Subsea 7 contract for Sunspear development in Gulf of Mexico

23 April 2024

Subsea 7 has secured a significant contract from Talos Energy for the Sunspear development in Green Canyon Block 78, located in the Mexican Gulf of Mexico, estimated to value between $50mn to $150mn.

Petrobras shuts Recap refinery for scheduled maintenance, mulls nearly 40 vessels contracts

23 April 2024

Brazil’s national oil company (NOC) Petrobras has shut down its Refinaria de Capuava (Recap) in Mauá, state of Sao Paulo, for a four-week planned maintenance.

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