LatAmOil - Latin America Oil & Gas

Petrobras proceeding with major divestments, execs say

Brazil’s state-run oil and gas company Petrobras is in the advanced stages of various major divestments, company executives have indicated.

CNH data show Pemex’s high-priority fields missing targets

Work on fields that Mexico’s Pemex has prioritised for development since last year has been progressing much less quickly than expected and is falling behind schedule, according to the National Hydrocarbons Commission (CNH).

Petrobras posts third consecutive quarterly loss

Brazil’s state-run oil and gas company Petrobras has posted its third quarterly loss in a row, but it said in its latest interim report that it had also managed to reduce losses between July and September.

Senior official: Gas key to Argentina’s post-pandemic energy sector

Natural gas is set to become a more important component of Argentina’s energy sector in the post-pandemic world, according to one of the country’s senior energy officials.

Petrobras acquires P-71 platform, eyes Itapu start-up

Brazilian state oil and gas major Petrobras has agreed to buy the P-71 floating production, storage and off-loading (FPSO) platform for $353mn and will use the platform to develop the Itapu oilfield.

NRG: Balancing optimism with caution

Eagle LNG’s Barbuda deal fuels Caribbean ambitions

Eagle LNG intends to supply a new resort on Barbuda with LNG from its liquefaction plant in Jacksonville.

AMLO dismisses US legislators’ critique of Mexican energy policy

Mexican President Andres Manuel Lopez Obrador has dismissed claims that his government’s energy policy puts US-based companies at an unfair disadvantage.

Ecopetrol reports sales, net profits down in Q3-2020

Colombia’s national oil company (NOC) Ecopetrol has reported a significant decline in its financial performance in the third quarter of 2020.

Petrobras to assume control of Foz do Amazonas block

Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) reported last week that it had authorised state-owned Petrobras to assume control of FZA-M-59, a block in the Foz do Amazonas Basin.

Petrobras raises 2020 production forecast to 2.84mn bpd

Brazil’s national oil company (NOC) Petrobras has raised its average production forecast for 2020 by 2.5% to 2.84mn barrels of oil equivalent per day (boepd), with oil accounting for 2.28mn barrels per day (bpd) of the total.

PdVSA expects oil export earnings to nearly halve in 2021

Venezuela’s state-run oil company PdVSA expects its earnings from oil exports next year to drop by nearly half, averaging $35 per barrel for a basket of locally produced crudes and petroleum products.

IEnova mulling co-operation with CFE for ECA project

Mexico's IEnova is interested in teaming up with the state-run power provider CFE for the Energía Costa Azul (ECA) project, which will involve the construction of a natural gas liquefaction plant at the site of an existing LNG import terminal.

Australia’s Karoon gets green light for Brazil offshore purchase

Australian oil and gas company Karoon Energy has received the go-ahead from Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) to acquire the Baúna offshore oilfield from state-run Petrobras.

Brazilian police extend corruption probe to diesel, jet fuel contracts

Brazilian authorities have extended the long-running Lava Jato (“Car Wash”) corruption investigation to review certain petroleum product contracts signed by Petrobras, the state-run oil company.

ANH authorises 16 companies to bid in third licensing round

Colombia’s state oil regulator, the National Hydrocarbons Agency (ANH), said last week that it had authorised 16 companies to bid for the four onshore blocks included in the upcoming third licensing round.

NRG: Time for guarded optimism

Bolivian gas sector awaits the country’s new leader

Bolivia's President-elect Luis Arce is not likely to push for major changes in the legal regime governing the gas sector any time soon.

Washington authorises Eni to unload Venezuelan crude from listing FSO

Italy’s Eni has secured US authorisation for the unloading of heavy crude oil from the Nabarima, a floating storage and off-loading (FSO) vessel moored in the Gulf of Paria between Venezuela and Trinidad and Tobago.

Limetree Bay refinery may lose access to BP oil supplies

UK-based BP has reportedly threatened to terminate its crude oil supply agreement with Limetree Bay Ventures, a company formed by EIG Global Energy Partners and ArcLight Capital Partners of the US.

Work on Dos Bocas refinery said to be 24% complete

Mexico’s national oil company (NOC) Pemex is moving forward with work on the Dos Bocas refinery project, which is now 24% complete.

YPF to pay Exmar $150mn to exit Tango FLNG charter

Argentina’s national oil company (NOC) YPF has reportedly agreed to pay Belgium’s Exmar $150mn in compensation for the early termination of a charter agreement for the Tango floating LNG (FLNG) vessel.

Petroperú launches bidding for Talara refinery upgrade

Peru’s state-run oil company Petroperú has launched bidding for service contracts as part of the long-delayed modernisation of the Talara refinery.

Mexico moves to ban new energy permits, protect state firms

Mexico’s Energy Regulatory Commission (CRE) is reportedly moving to restrict private investment in the country’s energy sector, in an attempt to protect state-owned oil and utility companies.

KOTUG wins contract for Guyana offshore work

Netherlands-based KOTUG International has been awarded a long-term contract to provide offshore terminal towage support for operations in Guyana.