LatAmOil - Latin America Oil & Gas

Petrobras ready to comply with ANP’s new gasoline specifications

Brazil’s national oil company (NOC) Petrobras has declared that it is ready to comply with the new regulations governing gasoline quality that will take effect later this year.

Petrobras allows Açu Petroleo to handle more oil exports

Brazil’s national oil company (NOC) Petrobras has agreed to let Açu Petroleo, the operator of an offshore terminal at the port of Açu, export more crude over a two-year period ending in March 2021.

Petroecuador accepts US assistance with pipeline rehabilitation

Petroecuador, the national oil company (NOC) of Ecuador, said last week that it had accepted an offer of assistance from the US with the rehabilitation of a major crude pipeline.

Mexico willing to sell gasoline to Venezuela for “humanitarian” reasons, president says

Mexican President Andres Manuel Lopez Obrador has said that his country would sell gasoline to Venezuela for “humanitarian” reasons if it were asked to, despite US sanctions.

NRG: Cautious steps forward

Welcome to the seventh edition of NewsBase’s Roundup Global (NRG), in which our team of international editors provide you with a snapshot of some of the key issues affecting their regional beats.

Mexican government’s oil hedge likely to cost more next year

Mexico’s oil hedge, the largest deal of its kind in the world, is likely to cost more and offer less protection next year.

ExxonMobil restores output at Liza field offshore Guyana

The US super-major ExxonMobil has restored its crude oil production offshore Guyana after fixing a technical problem.

Petrobras kicks off sale process for four offshore fields

Brazil’s state-run oil and gas firm Petrobras has kicked off the sales process for four offshore oilfields: Atum, Curima, Espada and Xareu.

Argentina to resume subsidies that benefit Vaca Muerta blocks

Argentina has decided to resume payments on a subsidy programme designed to support production at a number of natural gas blocks in the giant Vaca Muerta shale formation.

Mexico’s refining strategy leads to HSFO oversupply

Mexico's government is pushing Pemex to produce more gasoline – and finding itself with too much fuel oil as a result.

PdVSA decides against sending gasoline to Cuba

Venezuela’s national oil company PdVSA has reportedly decided against sending some of the gasoline it recently received from Iran to Cuba.

Sabotage takes 31 wells offline at Colombian oilfield

Colombia’s national oil company (NOC) Ecopetrol has suspended operations at more than 30 wells at the La Cira-Infantas oilfield, following a series of attacks by protesters over the weekend.

YPFB lowers minimum volume for gas deliveries to Brazil

Bolivia’s national oil company (NOC) YPFB has agreed to let the minimum volume of natural gas pumped through an overland pipeline to Brazil drop from 14mn cubic metres per day to 10 mcm per day.

Guyana receives $35mn for second oil cargo

Guyana has received $35mn for its second oil lifting of the year, which consisted of 1mn barrels of crude. This sum was significantly less than the $55mn the country received for its first export cargo, which went to market in February.

Colombia set to award fracking contracts this year

Colombia’s government is on track to award contracts for pilot projects involving hydraulic fracturing (fracking) this year.

Shell suspends operations at Vaca Muerta block

Royal Dutch Shell briefly suspended operations at Bajada de Añelo, a block within Argentina’s Vaca Muerta shale formation, after registering seismic activity in the region last week. The shutdown came to an end after just two days.

Bahamas Petroleum Co. acquires Columbus Energy for GBP25mn

Bahamas Petroleum Co. will spend GBP25mn to acquire Columbus Energy, in a merger that will create a Caribbean and Atlantic margin-focused oil and gas “champion.”

Ecuador restarts SOTE crude pipeline after completing bypass section

State-owned PetroEcuador has restarted the Trans-Ecuadorian Oil Pipeline System (SOTE), which has been damaged repeatedly by a series of floods.

NRG: Looking beyond the crisis

Venezuela’s Iranian stopgap

Gasoline shortages are likely to remain a problem for Maduro after Iranian supplies run out.

Technical problems force production rates down at Liza oilfield

Guyana may not be able to load its third cargo of crude oil for export on schedule next month, owing to setbacks at Liza, the country’s only operating field.

Pemex reportedly cancels $160mn worth of service contracts

Pemex has reportedly cancelled contracts with a number of its major suppliers and service providers

Re-opening of St. Croix refinery likely to be delayed again

The government of the US Virgin Islands has indicated that the re-opening of the St. Croix oil refinery is likely to be delayed once more.

AES, Tropigas affiliates team up to deliver LNG by truck in Panama, Costa Rica

Affiliates of US-based AES and Tropigas of the Dominican Republic have teamed up to distribute LNG by truck in two Central American countries.

Mexico refuses to extend oil output cuts

Mexican President Andres Manuel Lopez Obrador has said that Mexico is not in a position to extend oil output cuts and has called for other countries to do so instead.