Ecuador will likely suspend oil production completely within 48 hours if road blocks and vandalising of oil wells continue, Bloomberg News reported on Sunday, citing an emailed statement from the Continue Reading
Delivered cargo assessments for Latin America gasoline were sharply lower June 24 than record highs set weeks earlier, but ultra low sulfur diesel prices remained close to record highs set Continue Reading
Ecuador’s state-owned oil company Petroecuador declared force majeure across exploration, production, and transportation operations amid escalating protests against the government. This means that exports of oil from the Andean country Continue Reading
The West’s ban on Russian oil imports in response to Putin’s aggression in Ukraine has sent energy prices soaring. Argentina’s Vaca Muerte shale patch may emerge as a major story Continue Reading
A 650,000-barrel-cargo of Venezuela’s oil chartered by Italy’s Eni (ENI.MI) is about to set sail carrying the first export of crude from the U.S.-sanctioned country to Europe in two years, Continue Reading
Guyana’s oil industry is booming thanks to a number of massive discoveries. Exxon is leading the charge on this new oil frontier. The former British colony will materialize as a Continue Reading
Wheat prices are soaring as the Ukraine war sparks a global food crisis. But in Argentina, one of the world’s agriculture powerhouses, farmer Aimar Dimo is cutting back the acreage Continue Reading
Highlights Countries from Mexico to Argentina look to buy for different reasons Subsidies keep local prices low but demand high in Latin America Latin American diesel saw its third big Continue Reading
June 11 (Reuters) – Iran and Venezuela on Saturday signed a 20-year cooperation plan, according to live coverage on Iranian state TV. The plan includes cooperation in the fields of Continue Reading
Highlights Countries from Mexico to Argentina look to buy for different reasons Subsidies keep local prices low but demand high in Latin America Latin American diesel saw its third big Continue Reading
Venezuela’s PDVSA has started asking spot market buyers of its crude oil to pay in advance for the shipments after several recent payment defaults, Reuters has reported , citing several Continue Reading
Italian oil company Eni SpA and Spain’s Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar Continue Reading
The Guyana-Suriname oil basin may hold much larger reserves than anticipated. Suriname is looking to replicate Guyana’s oil boom through 2030. Low projected breakeven prices and discoveries of light to Continue Reading
Argentina has launched a tender process to build a new gas pipeline out of its huge Vaca Muerta shale formation that is expected to increase current transport capacity by 25%, Continue Reading
Brazil President Jair Bolsonaro’s government said it aims to include state oil company Petrobras (PETR4.SA) in its privatization program on Thursday, despite analysts calling it a long-shot for the far-right Continue Reading
New oil findings at a deeper layer in Guyana’s seabed could help adding billions of barrels to what is already the world’s largest oil discovery in 20 years, Hess Corp Continue Reading
Two exploratory wells planned in Mendoza If results are positive, 150 wells will be drilled on two blocks YPF is building on its shale production growth in Neuquen Argentina’s state-backed Continue Reading
Brazil’s President Jair Bolsonaro speaks during a ceremony to announce new measures for Brasil Empreendedor (Entrepreneurial Brazil) credit program at the Planalto Palace in Brasilia, Brazil May 25, 2022. REUTERS/Adriano Continue Reading
The U.S. Treasury Department on Friday renewed a license to oil producer Chevron Corp (CVX.N) to operate in U.S.-sanctioned Venezuela through the end of November under the same restricted terms Continue Reading
Brazil’s right-wing president Jair Bolsonaro fired the chief executive of oil producer Petrobras – the second in two months – after the company refused to sell fuels at a discount Continue Reading
Rumors that the U.S. would lift sanctions against Venezuela in order to halt the oil price rally have been circulating since Biden sent a delegation to Caracas in March. The Continue Reading
: LA Port Chief The global shipping bottlenecks rattling industries and consumers in the pandemic era were plain to see for the politicians, economists and investors gathering for a Latin Continue Reading
Highlights US allows Chevron to renegotiate license with PDVSA Lawmakers blast change in policy toward Venezuela Calls continue for action to aid domestic oil output Details remained scant May 18 Continue Reading
Chevron has a joint venture with state-owned oil company Petróleos de Venezuela. The U.S. extended a limited license held by Chevron Corp. on Tuesday that allows the oil company to Continue Reading
Crude fell after the US government announced it plans to allow Chevron Corp. to negotiate its oil license with Venezuela’s national producer. West Texas Intermediate settled below $113 on Tuesday. Continue Reading
Chevron waiver was due to expire June 1 Opposition leader Guaido denies involvement Republican lawmakers May 17 were quick to condemn steps the Biden administration reportedly took to ease oil Continue Reading
Latin America pulling more refined product cargoes from Europe, Asia USGC ULSD waterborne premium drops on race to supply Latin America Latin American diesel prices have backed away from record Continue Reading
A Venezuela-owned tanker in March sailed to a remote spot in the Indian Ocean and met an Iran-flagged vessel, took on a cargo of Iranian condensate and sailed home, according Continue Reading
The suspended draft allows fully-laden Suezmax transits 50-foot maximum permits Neopanamax container ship transits Southbound transit waiting times for Supers at eight days The 49.5-foot draft restriction for the Neopanamax Continue Reading
Venezuela has begun importing Iranian heavy crude to feed its domestic refineries, documents from the state-run oil company PDVSA showed, a deal that widens a swap agreement signed last year Continue Reading
Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel Continue Reading
Guyana has started discussions with Exxon Mobil Corp (XOM.N) to build a more than 120-mile (190-km) natural gas offshore pipeline, Natural Resources Minister Vickram Bharrat said on Tuesday at the Continue Reading
Exxon has made three discoveries offshore Guyana and increased its recoverable resource estimate for Stabroek to nearly 11 billion oil-equivalent barrels. U.S. oil supermajor ExxonMobil has made three new discoveries Continue Reading
Colombia’s oil industry has been in a death spiral since the beginning of the COVID-19 pandemic. Growing community and political opposition to Colombia’s oil industry adds an elevated risk to Continue Reading
The carbon emissions of JBS, the world’s largest meatpacking company, soared more than 50 per cent in the past five years, according to new research that lays bare the challenge Continue Reading
Guyana considers creation of state-run oil company. Guyana President: diversifying Guyana’s economy is crucial. Guyana will look for a “strategic partner” to run a state-run oil company. The world’s newest Continue Reading
Venezuela is scrambling to ramp up its oil production to help tackle global supply constraints. There is a growing concern that state-owned PDVSA is reaching its production capacity. Some analysts Continue Reading
Argentina’s new deal with Bolivia to up natural gas imports will bring savings of $769 million in foreign-exchange reserves and replace 14 vessels of increasingly expensive liquefied natural gas (LNG), Continue Reading
Forecast of 42 mil mt could be cut further 9% of area harvested Truckers’ strike poses huge logistical challenge The Argentinian soybean output forecast for 2021-22 crop year (November-October) is Continue Reading
Guyana is on track to produce more than 1 million bpd of crude by 2027. The size of the Guyana-Suriname basin may be bigger than anticipated. Besides deepwater oil, Suriname Continue Reading
Sky-high gas prices and market volatility is weighing on Argentina. Despite being one of the most gas-rich countries in the world, Argentina is facing a massive fuel shortage. Years of Continue Reading
The cost for Latin American countries to import diesel via vessel from the United States is rising due to limited supply and increased freight costs, according to shipping sources and Continue Reading
Cuba is struggling to cover a fuel deficit as imports from Venezuela and other countries remain below historical levels and global prices boosted by Russia’s invasion of Ukraine make purchases Continue Reading
Leaders from Argentina’s major transportation union said on Monday they will call for a national strike to demand an increase in grain freight rates, as higher fuel costs cause tensions Continue Reading
Exxon has made a final investment decision for the Yellowtail development offshore Guyana after receiving government approval. U.S. supermajor ExxonMobil has made a final investment decision for the Yellowtail development Continue Reading
Petroleum exports from Venezuela declined about 4% in March from the previous month as its state-run oil company dealt with crude cargoes returned by customers over poor oil quality, documents Continue Reading
Brazil is looking to fill part of the supply gap caused by sanctions on Russia over its invasion of Ukraine. Despite a miss on Exxon’s recent exploration push, Brazil’s oil Continue Reading
Changes to be phased in starting in 2023, after comments Operator wants fees to reflect shifting market conditions A new fee structure proposed by the Panama Canal Authority April 1 Continue Reading
Exxon Mobil Corp (XOM.N) on Friday received approval to begin work on its fourth offshore oil project in Guyana from the South American country’s Environmental Protection Agency. The permit will Continue Reading
Venezuela’s state-run energy firm PDVSA is in talks to buy and lease several oil tankers amid a possible expansion in exports, according to three sources and a document seen by Continue Reading
