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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Guyana to introduce draft oil spill legislation within a week
Guyana's Vice President, Bharrat Jagdeo, announced that his government is in the process of drafting legislation to address oil spill liabilities.
Subsea 7 secures contract with Petrobras for offshore Búzios 9 field development
Engineering services company Subsea 7 has been awarded a significant contract by Brazil’s national oil company (NOC) Petrobras for the development of the offshore Búzios 9 field.
PGS begins Petrobras' 4D survey offshore Brazil
Norwegian seismic firm PGS has secured all necessary permits for Petrobras' extensive 4D survey over the Barracuda Caratinga fields, located offshore Brazil.
Petrobras divests 30% stake at Brentech thermoelectric plant fror $2mn
Brazil’s national oil company (NOC) Petrobras has completed the sale of its 30% stake in the Brentech Energía thermoelectric plant to Enegen, the majority owner with a 70% stake, for $2mn.
Mexico to resume oil exports to Cuba after stoppage
Mexico is set to resume oil shipments to Cuba after a three-month pause, aiming to alleviate power outages and fuel shortages on the island.
Arrow Exploration announces strong Q1 2024 interim results
Arrow Exploration has released its Interim Condensed Consolidated Financial Statements and Management's Discussion and Analysis for the three months ended 31 March 2024.
Trinidad and Tobago has 10 years of gas production left from current fields
Trinidad and Tobago's Minister of Energy Stuart Young announced that the nation’s natural gas reserves could sustain production for roughly another decade, with current reserves totalling less than 339,802,159,104 cubic metres.
U.S. Treasury Department grants BP and Trinidad's NGC gas development license with Venezuela
BP and Trinidad and Tobago’s national oil company NGC have been granted a two-year license from the U.S. Treasury Department to negotiate and develop the Cocuina-Manakin gas fields with Venezuela, Trinidad's energy minister announced.
Guyanese vice president addresses uncertainty regarding FPSO operations in Stabroek Block
Guyanese Vice President Dr Bharrat Jagdeo addressed uncertainty regarding oil reserves in the offshore Stabroek Block, clarifying that the government’s approved number of Floating Production Storage and Offloading vessels remains at six.
ExxonMobil recognises Guyana as crucial to company's strategic growth
ExxonMobil emphasised Guyana's pivotal role in its strategic growth plans in its 2023 annual report, making specific reference to the completion of 12.6 net exploratory and development wells in the country’s Exclusive Economic Zone.
India halts Venezuelan oil imports amid US sanctions
India ceased oil purchases from Venezuela last April, coinciding with the United States' decision not to extend sanctions relief on Venezuelan crude, according to the spokesperson for Indian Foreign Minister Randir Jaiswal.
India’s Jindal Power partners with Venezuela's PDVSA in crude venture amidst US sanctions
India's Jindal Power Ltd. is set to collaborate with Venezuela's national oil company PDVSA in a crude venture shortly after securing a contract to oversee the country's largest iron-ore complex despite the return of US sanctions, sources revealed.
BP and Trinidad's NGC get US licence for gas field talks with Venezuela amid sanctions
BP and Trinidad and Tobago’s state energy firm NGC have secured a two-year licence from the US Treasury Department to negotiate and develop the Cocuina-Manakin gas fields with Venezuela, Trinidad’s Energy Minister Stuart Young announced.
Trinidad court clears ConocoPhillips to enforce $1.33bn claim against Venezuela
A court in Trinidad and Tobago has authorised US oil giant ConocoPhillips to enforce a $1.33bn claim against Venezuela for past expropriations, a development that could complicate prospective offshore gas ventures between Trinidad and Venezuela.
Argentina gradually overcoming natural gas deficit
Argentina’s natural gas supply began stabilising after Petrobras started unloading gas from a ship that was previously blocked by the Argentine government.
Progress in the reorganisation of PDVSA Gas Colombia
The Superintendency of Companies announced on May 28 that the reorganisation process of PDVSA Gas Colombia is advancing.
UK’s CRP Subsea secures contract for deepwater oil project in Brazil
UK-based company CRP Subsea, a subsidiary of AIS group, has secured a contract off the coast of Brazil to supply modular buoyancy modules for a deepwater oil field development in the Santos Basin.
Yinson Production refinances FPSO Anna Nery with $1bn bond issuance
Yinson Production has issued $1.035bn in senior secured notes to refinance the floating, production, storage, and offloading vessel Anna Nery, which operates for Petrobras in the Marlim field, offshore Brazil.
Hess shareholders approve $53bn Chevron deal despite dispute over Guyana assets
A majority of Hess shareholders on May 28 approved the company’s pending $53bn acquisition by Chevron, despite a dispute over Hess’ lucrative Stabroek stake off the coast of Guyana.
Argentina's gas supply system in emergency shutdown amid frigid weather
Following a week of frigid temperatures, Argentina's gas supply system, already stretched to its limits, started a state of emergency, resulting in a complete halt of supply to over 300 industries and numerous CNG service stations across the nation.
BP, Shell and EOG bid in Trinidad and Tobago’s oil and gas auction
BP, Shell and US shale producer EOG Resources submitted six bids on four blocks to explore for oil and gas in Trinidad and Tobago’s shallow-water auction. The three companies already operate in Trinidad.
S&P Global names Guyana as top Atlantic Margin basin for investments
S&P Global analysts have ranked Guyana at the forefront of 10 Atlantic Margin basins, citing its conducive investment environment for long-term upstream projects.
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