Petrobras is going ahead with several projects in oil and gas while demand remains high. Brazil’s oil major could expand to offer greener diesel and biofuels, supporting the decarbonization of Continue Reading
The impact of the La Nina weather pattern that’s expected to roil global food markets in coming months is already showing up in parts of Brazil, the world’s biggest soybean Continue Reading
Crude oil production in Colombia this year is on track to hit its lowest level since 2009 Colombia is in urgent need of additional investments and exploration success as proven Continue Reading
Several oil majors on Friday committed to exploring deep-sea oil prospects off Brazil’s coast following an auction widely seen as a test of the industry’s appetite for crude in the Continue Reading
Exxon Mobil Corp. is prepared to bid on Friday for new blocks in Brazil’s deep-water oil fields, a focus area for its oil and gas production growth, people familiar with Continue Reading
Highlights Petroperu expected to take a week to restart pumping PetroTal’s Block 95 tops 20,000 b/d for first time PetroTal to ship 320,000 barrels to Brazil State oil company Petroperu Continue Reading
Exxon Mobil Corp outlined a major new investment in Guyana amid government calls for delivering economic benefits to residents from deepwater oil and gas discoveries helping turn the South American Continue Reading
A senior U.S. diplomat quietly traveled to Venezuela this week and met with imprisoned Americans in an ongoing effort to secure release of the men the Biden administration believes are Continue Reading
Venezuelan President Nicolas Maduro plans to replace Oil Minister Tareck El Aissami – a key ruling party official who also serves Venezuela’s OPEC representative and board member of the state Continue Reading
U.S. sanctions have a long history of failing to initiate regime change Sanctions from both the Obama and Trump Administrations have failed to have a material impact on Venezuela’s regime Continue Reading
Peru plans to revamp next year its royalty model for the oil industry, aiming to attract investors willing to help the country reach energy self-sufficiency and start moving toward renewable Continue Reading
The recent rise in oil prices and the pressing need to rescue their economies have incentivized Latin American countries to develop their fossil fuels Latin America is lagging in the Continue Reading
Iran has delivered the fourth cargo of crude oil condensate to Venezuela since the start of this year, Reuters has reported , citing a Venezuelan member of parliament—but the condensate Continue Reading
The land has sustained the Dantas family for more than 150 years, bearing fields of cotton, beanstalks up to a grown man’s hip and, when it rained enough, a river Continue Reading
A cargo of Iranian condensate intended for Venezuela’s state-run oil company, PDVSA, the fourth delivery this year, will discharge in coming days at the country’s main oil port, a Venezuelan Continue Reading
Suriname is hoping to replicate the hydrocarbon success being enjoyed by neighboring Guyana. The country’s vast hydrocarbon potential could be a boon to its struggling economy. While Suriname’s offshore petroleum Continue Reading
The tiny South American nation of Guyana has emerged as the hottest offshore drilling location on the continent over the last six years. The swathe of oil discoveries made by Continue Reading
Highlights Recovery of production possible because of imports of diluents from Iran Orinoco Belt output at 420,000 b/d; Monagas fields 130,000 b/d; Zulia-Trujillo 110,000 b/d Sinovensa is operating at 90,000 Continue Reading
La Nina is set to wreak havoc during Argentina’s upcoming summer, when soybean and corn plants will be growing across the Pampas farm belt. Precious little rain will fall in Continue Reading
Brazil’s Petrobras plans to invest $68 billion in expanding its crude oil production, a figure that represents 84 percent of its total planned investments for the period 2022-2026. Offshore Technology Continue Reading
The U.S. is leaving Venezuelan operations of Chevron Corp. and top American oil-service companies at a standstill after President Nicolas Maduro’s socialist party came victorious in regional elections questioned by Continue Reading
Guyana’s oil boom has the potential to turn the South American nation into one of the richest countries in the world on a per capita basis The country has to Continue Reading
Record numbers of Venezuelan migrants have been crossing into the United States in recent months, posing a new border challenge for the Biden administration and raising concerns that more of Continue Reading
Snaking its way through thousands of miles of South American rainforest and pampas and past sprawling soybean and corn farms, the Parana River is the main thoroughfare for Argentine commerce. Continue Reading
The COVID-19 pandemic has taken a particularly harsh toll on Colombia’s economically-dependent oil and gas industry. Investment in the oil and gas sector fell by nearly 50% in 2020. Colombia Continue Reading
Venezuela’s President Nicolas Maduro said on Sunday there will be no renewed talks with opposition politicians until “the kidnap” of a prominent government envoy Alex Saab – who was extradited Continue Reading
Deforestation in the Brazilian Amazon rainforest has reached a 15-year high, newly released data shows. The surge is prompting environmentalists and scientists to question the government’s willingness to meet the Continue Reading
Chile is planning to build a 15,000 km subsea cable for a cost of more than $2 billion to send solar energy to China This project would solve one of Continue Reading
Deforestation increased in the Amazon by 22% during the 2020-21 period Deforestation in Brazil’s Amazon rainforest has hit its highest level in over 15 years, official data shows. A report Continue Reading
Venezuela’s broken oil industry is still struggling to boost production, and the new target set by PDVSA of 1 million barrels per day by the end of the year is Continue Reading
SBM Offshore has been awarded contracts to perform FEED for an FPSO for the Yellowtail development project offshore Guyana. FPSO operator SBM Offshore has been awarded contracts to perform front-end Continue Reading
Citgo Petroleum Corp, the eighth-largest U.S. oil refiner, reported on Monday its seventh quarterly loss in the last two years and reshuffled its board of directors, naming three new members. Continue Reading
Exxon Mobil (XOM.N) is in discussions with Dutch contractor SBM Offshore NV (SBMO.AS) to build a fourth multibillion-dollar production unit to develop its Guyana oil discoveries, two people close to Continue Reading
Theft from oil pipelines in Colombia is booming as criminal gangs look to replace dwindling supplies of smuggled Venezuelan gasoline for use in the drug trade, as shown by data Continue Reading
Rising fuel costs and a surge of inflation is threatening Brazil’s economic recovery. In response to the crisis, President Bolsonaro is floating the idea of privatizing the country’s national oil Continue Reading
The Cold War lived on in socialist Venezuela, where, since Hugo Chávez courted the Kremlin in the 2000s, the United States and Russia engaged in what was largely a two-way Continue Reading
Venezuela’s state oil company PDVSA halted two key gasoline production units at its Amuay refinery, the country’s largest, after a fire in the area, four sources with knowledge of the Continue Reading
Brazilian President Jair Bolsonaro said on Monday that dealing with high fuel prices is his top priority and he sees privatization of the state-run oil company Petrobras as the “ideal” Continue Reading
Brazil’s carbon dioxide emissions soared last year due to greater deforestation in regions including the Amazon, dealing a fresh blow to President Jair Bolsonaro’s environmental credentials. Emissions rose 9.5% versus Continue Reading
In this Sept. 9, 2021 file photo, pedestrians walk near a poster asking for the freedom of Colombian businessman and Venezuelan special envoy Alex Saab, and that reads in Spanish Continue Reading
Exxon’s operations offshore Guyana are proving to be highly profitable Breakeven costs for its projects are expected to drop from $35 per barrel to $25 per barrel, an industry low Continue Reading
Exxon Mobil Corp’s (XOM.N) second floating production system for Guyana, the Liza Unity, arrived early on Tuesday in the South American country’s waters, the U.S. oil company said. The production Continue Reading
The supervisory boards of Venezuela-owned Citgo Petroleum, racing to stave off a breakup of the eighth-largest U.S. oil refiner, have held talks with U.S. officials in Bogota, Colombia, seeking to Continue Reading
The collapse of Venezuela’s oil industry could lead to significant environmental consequences. Oil spills are likely to increase due to a lack of infrastructure investment and maintenance. A key part Continue Reading
Peru’s state-owned Petroperu hopes to once again extract oil in the Andean nation by the end of the year to supply crude to its Talara refinery, the government said on Continue Reading
The giant Itaipu hydroelectric power plant, wedged between Paraguay and Brazil on the Parana River, is facing an energy crunch amid record low river and rainfall levels that experts say Continue Reading
Guyana became a major holder of oil and gas reserves in 2015 when ExxonMobil found oil in its waters. Guyana wants to use the large oil and gas discoveries over Continue Reading
Saab was charged with money laundering in the US One of President Nicolás Maduro’s closest aides has been extradited from Cape Verde to the United States, where he’s been charged Continue Reading
Venezuela’s government has suspended internationally sponsored negotiations with the opposition and revoked the house arrest of six American prisoners after the US extradited a close ally of president Nicolås Maduro Continue Reading
An Iran-flagged supertanker on Saturday was about to set sail from Venezuelan waters carrying 2 million barrels of heavy crude provided by state-run oil firm PDVSA (PDVSA.UL), according to documents Continue Reading
