Central & South America

Argentina's Oil Output Hits Record High with YPF's New Pipeline Launch

Argentina's oil production in the key province of Neuquen reached a record high in April, driven by increased activity in the huge Vaca Muerta shale formation, the local government said on Tuesday, edging up to around 390,326 barrels per day.

Colombia's Trasandino Pipeline to Remain Offline Until December 2024, Ecopetrol CEO Says

Colombia's Trasandino pipeline is forecast to remain offline until December, the chief executive of Colombia's majority state-owned energy company Ecopetrol said on Wednesday.

Eletrobras Partners with GEP for Green Hydrogen Production in Brazil

Brazil's Eletrobras, Latin America's largest utility, has signed a memorandum of understanding with Green Energy Park (GEP) to study opportunities for green hydrogen production, the companies said on Tuesday.

YPF Advances $2.5 Billion Pipeline Project to Spur Vaca Muerta Shale Oil Exports

YPF SA is advancing a $2.5-billion cross-country pipeline project to unlock the rich potential of the Vaca Muerta shale region, addressing the primary bottleneck hindering its full exploitation.

Black & Veatch Completes Feasibility Study for Andes Energy LNG Terminal

Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, a LNG regasification terminal and power plant located near the port city of Buenaventura on Colombia’s Pacific coast.

Paraguay Pursues $1.5 Billion Gas Pipeline Linking Argentina and Brazil

Paraguay is advancing talks with energy firms and high-ranking government officials from Argentina and Brazil over a potential $1.5 billion gas pipeline to connect the three countries, sources told Reuters.

Exxon's Liza Unity FPSO in Guyana Hits Peak Output of 252,000 bpd, Executive Says

An ExxonMobil led oil consortium has achieved peak production of 252,000 barrels per day from its Liza Unity production vessel, Exxon Guyana Country Manager Alistair Routledge said on Wednesday.

Exxon to Temporarily Shut Guyana Platforms for Pipeline Connection

The 140-mile (225-km) pipeline will feed Guyana's $1.9 billion gas-to-power project aimed at ending the country's dependence on imported fuels and at lowering energy costs for residents.

Exxon Misses Q1 Profit Estimates Despite Guyana Gains

Exxon Mobil Corp. on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains.

Hess Profit Soars on Increased Guyana Output, Positive Sign for Exxon

Hess Corp. on Thursday reported first-quarter earnings well above analysts' forecasts, driven by a 28% increase in Guyana oil output, a sign Exxon Mobil's results out Friday could also top forecasts.

MidOcean Energy Acquires 20% Stake in Peru's First LNG Export Facility

PLNG's assets encompass a natural gas liquefaction plant boasting a processing capacity of 4.45 MTPA, along with a fully-owned 254-mile (408 km) pipeline capable of handling 1,290 MMcf/d.

Offshore Developments: Exxon's Guyana Gas Plans, LNG Capacity Boost, and More

(P&GJ) — Explore the latest offshore developments, including Exxon's considerations for Guyana gas production post-2029, increased LNG regasification capacity, Venezuela's licensing plans with Trinidad and Shell, New Fortress Energy's onshore complement to an offshore project, and Sulmara's refit for renewable energy contracts.

Colombian President Proposes Ecopetrol and Petrobras Collaboration on Green Hydrogen

Colombian state energy company Ecopetrol and its Brazilian counterpart Petrobras should work together on developing green hydrogen, Colombian President Gustavo Petro said on Wednesday.

Ceiling on Venezuela's Oil Output Growth Expected as U.S. Oil License Expires

The expiration of the widest U.S. license so far granted to Venezuela's oil and gas industry will put a ceiling on the South American country's slow crude production growth unless Washington grants enough individual authorizations to compensate, according to analysts and experts.

BP Nears Deal to Sell Trinidad Upstream Gas Assets to Perenco

BP is close to an agreement to sell some of its Trinidad and Tobago oil and gas assets to Anglo-French oil company Perenco, sources said.

Delays in Guyana Gas-to-Power Project Threaten Oil Revenue, Energy Cost Reduction Goals

Guyana’s efforts to use its natural gas resources to fuel a power plant that would slash the South American nation's energy costs have snagged on construction delays and threaten to curtail the rising oil hotspot's revenue this year by about $1 billion.

Shell Seeks Longer U.S. License Before Committing to Venezuela Gas Project

Oil major Shell is seeking a long-term license from the U.S. before making a final investment decision on the Dragon natural gas project in Venezuela, four people familiar with the matter said.

Argentina Pursues Gas Export Route to Brazil via Bolivia Amid Regional Supply Concerns

Energy companies from Argentina and Brazil have begun talks on reversing the southerly flow of a Bolivian natural gas pipeline network that connects the three countries as a regional gas deficit could force Brazil to pay up for alternative supplies of the fuel.

Credit Agricole Declines Funding for Exxon, Eni, and TotalEnergies’ LNG Projects

Credit Agricole said on Monday that it would not provide financing to two major LNG projects, citing commitments to refrain from new fossil fuel developments.

Argentina's Vaca Muerta Shale Formation Drives Record Oil Production in February

Argentina's Neuquen province hit a record for daily oil production in February, aided by increased activity in the Vaca Muerta shale formation, the local government said on Friday.

Suriname Urges Exxon and TotalEnergies to Unify Gas Projects

Suriname's state-owned oil company Staatsolie has begun talks with oil majors Exxon Mobil and TotalEnergies to encourage joint development of natural gas fields that straddle its and Guyana's maritime borders, the head of its state oil firm told Reuters late Tuesday.

Trinidad Pursues U.S. License for BP-Venezuela Gas Project Amid Sanctions

The government of Trinidad and Tobago has begun talks with the U.S. for a license that would allow the joint development of a natural gas project shared with Venezuela that also involves BP, Energy Minister Stuart Young said on Thursday.

CEO: Other Nations Will Fill LNG Gap if U.S. Retreats, Baker Hughes Affirms

If the U.S. pulls back from permitting new LNG export plants, demand for the fuel will still be met from projects in Qatar, Argentina and Africa, the CEO of Baker Hughes, the world's largest provider of equipment for the LNG sector, said on Thursday.

Chevron CEO 'Surprised' by Exxon's Arbitration Filing Over Guyana Stake

Chevron was surprised when Exxon Mobil filed for arbitration over Chevron's plans to buy Hess's Guyana oilfield stake, Chevron CEO Michael Wirth said on Tuesday.

Petronas Begins Construction of Floating LNG Facility for Argentina's Gas Exports

Malaysia's state energy firm Petronas has begun the construction of a floating liquefied natural gas (FLNG) processing unit to be placed off the coast of Argentina, which aims to begin exports by 2027.

Colombian Police Seize 7.3 Million Gallons of Crude Stolen from Pipelines in Raids on Illegal Refineries

Colombian police have seized more than seven million gallons of crude oil in raids on illegal refineries, in an operation targeting production of bootleg fuel in Norte de Santander province, the police said in a statement on Monday.

Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction

The highest bid received in a U.S. auction of shares that will decide the fate of Venezuela-owned oil refiner Citgo Petroleum was $7.3 billion, enough to cover only a third of court-approved claims, two people familiar with the matter said.

Venezuela Rushes to Strengthen Iran Relationship as U.S. Sanctions Loom

Iran and Venezuela are trying to patch together an oil alliance that began to fray last year, according to six people familiar with the matter, after the South American country fell behind on oil swaps that had boosted crude exports and helped stem domestic fuel shortages.

Chevron's CEO Faces High-Stakes Battle Over Hess Acquisition

Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his $53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals.

Citgo's Quarterly Net Profit Plummets 81% on Plant Outages, Margin Decline

Venezuela-owned oil refiner Citgo Petroleum on Thursday reported fourth quarter net profit fell 81% to $154 million, from $806 million a year ago, on plant outages and weaker margins.