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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Bolivia's YPFB certifies 2022 and 2023 gas reserves, plans publication
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) has completed certifications for the 2022 and 2023 gas reserves. Currently, the state oil company is cross-referencing data from various sources to ensure accuracy before making the findings public
ExxonMobil confirms capping stack on route to Guyana
ExxonMobil Guyana is gearing up for the imminent arrival of a capping stack, a critical piece of equipment mandated by the government as a safety measure in the event of a major oil spill.
ExxonMobil Guyana reveals dates of output halt due to Gas-to-Energy project
ExxonMobil has announced the timeframe for the temporary halt of production at two offshore oil projects in Guyana’s Stabroek Block as part of efforts to connect a natural gas pipeline for the landmark Gas-to-Energy project.
Petrobras kicks off bidding for onshore rigs
Brazil’s national oil company Petrobras has initiated a bidding process to contract four large rigs to drill oil and gas production wells onshore in various fields across Bahia and Amazonas
Petrobras crude Q1 output up 4.4% at 2.24mn bpd, exports fall
Brazil’s national oil company Petrobras’ first-quarter crude output rose by 4.4%, year on year, to 2.24mn barrels per day.
Production increase of three ExxonMobil FPSOs approved by Guyana government
The Ministry of Natural Resources in Guyana reported production increases across three FPSO vessels, namely Destiny, Unity, and Prosperity, as part of a production optimization process.
Petrobras sells idle fields to Perenco, signs MoU with Argentina’s Enarsa for gas projects
Brazil’s national oil company Petrobras has finalised contracts to sell its entire interest in the Cherne and Bagre fields, situated in the Campos Basin's shallow waters, to Perenco for $10mn.
Chevron says it will finalise purchase of Hess this year
Chevron CEO Mike Wirth has told Bloomberg Television that the company expects an outcome to the dispute with Exxon over the Stabroek Block in Guyana in the coming months, and that its $53bn acquisition of Hess Corp. would be finalised this year.
Hess Corporation preparing to begin oil exploration offshore Suriname this year
US energy major Hess Corporation is set to commence exploration in two offshore Suriname oil blocks later this year, namely Block 42 and Block 59, the company revealed in its annual report filed with the U.S. Securities and Exchange Commission.
Vista Energy to accelerate Vaca Muerta production in second half of 2024
Vista Energy, is set to ramp up its activities in the Vaca Muerta formation with the introduction of a third drilling rig, Oil & Gas Journal reported.
Hess requests tribunal hearing for dispute with ExxonMobil and CNOOC
Hess Corporation is seeking an arbitration tribunal to hear the merits of its disagreement with ExxonMobil and CNOOC, Chevron CEO Mile Wirth confirmed.
Hess calls for shareholder vote on May 28 for Chevron takeover
Hess Corporation has called for a shareholder vote on May 28 over Chevron Corporation's proposed $53bn acquisition of the company.
Vallourec secures fourth major order from ExxonMobil Guyana for Whiptail project
Vallourec, announced the acquisition of its fourth major order from ExxonMobil Guyana within the framework of a 10-year Long-Term Agreement, this time for the Whiptail project in the Stabroek Block.
ExxonMobil emphasises Payara project success in first-quarter earnings report
ExxonMobil's first-quarter earnings report for 2024 report outlined the success of the company’s achievements in project execution and operations, particularly the successful performance of the Payara project.
ExxonMobil chief expects Guyana to become one of world's most successful deepwater developments
ExxonMobil’s Chief Executive Officer Darren Woods has claimed that Guyana is emerging as one of the most successful deepwater projects in the history of the oil and gas sector.
Suriname seeks to replicate Guyana’s oil success
Suriname is looking to repeat Guyana's oil sector growth, with TotalEnergies and APA Corp. targeting the final investment decision for the offshore Block 58 project by the close of 2024.
ExxonMobil, Chevron miss estimates, bet on Permian and Guyana
The two largest US oil and gas heavyweights, ExxonMobil and Chevron, may have been hit hard by weak gas prices and refining margins. The duo released their first quarter earnings results on April 26, with Exxon falling short of estimates.
Latina Seguros secures Petroecuador insurance contract amid controversy
Latina Seguros has clinched a lucrative insurance contract with Petroecuador, Ecuador’s state oil company, following a low-profile tender process The contract is valued at $89.9mn excluding VAT, and follows a bidding process marred by controversy.
Chinese refiners enjoy greater discounts on Venezuelan oil after US sanctions return
Chinese refiners are enjoying reduced prices for Venezuelan oil following the reinstatement of US sanctions against the South American nation. Merey crude, commonly utilised for bitumen production, has recently been trading at a discount of $14 pb.
Venezuela's PDVSA to revise agreements with new foreign partners, says energy commission chief
State-owned oil company Petróleos de Venezuela SA is set to revise agreements with 17 joint venture companies, with nine of them slated to welcome new foreign partners, as confirmed by Ángel Rodríguez, Assembly's energy commission chief.
Venezuela’s PDVSA needs $50bn investment to reach 1.7mn bpd production, oil expert says
Achieving sustainable oil production and export levels, along with vital technological upgrades and infrastructure maintenance for Venezuela's state oil firm PDVSA, requires a minimum daily output of 1.7mn barrels over the next three years.
Venezuela's PDVSA ranks 30th among world’s top carbon emitters
Petróleos de Venezuela SA has secured the 30th position in a list of the 117 largest carbon emitters post the Paris Agreement, according to a report released by the British research centre Influence Map in early April 2024.
Repsol optimistic on Venezuela operations despite US sanctions return
Spanish energy giant Repsol expressed optimism regarding its business prospects in Venezuela, despite the United States' move to reimpose sanctions on the country over electoral concerns.
Pemex Q1 2024 net profit plunges 91.7% amid weakening peso
Petróleos Mexicanos (Pemex) faced a significant decline in net profit in the first quarter of 2024, down 91.7% to MXN4.7bn ($284.3mn), largely attributed to a weaker peso compared to the same period last year.
Mexico's Pemex reverses export cuts, Q1 output falls but refining grows
Mexico's national oil company Pemex has reversed proposed crude export cuts of at least 330,000 barrels per day for May, according to sources.
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