Central & South America

Petronas Seeks Fiscal Incentives to Develop Suriname Gas Project

Suriname should boost incentives for energy companies looking to develop oil and gas discoveries, said Zamri Baseri, head of Malaysia's Petronas in the South American country.

Trinidad in Talks with Europe to Supply Venezuelan LNG

Trinidad and Tobago has begun talks with some European countries on the supply of LNG produced from Venezuelan gas, Prime Minister Keith Rowley said on Monday.

Global Pipeline Construction Outlook 2024: New LNG Terminals Sound Beckon Call for More Pipelines

(P&GJ) — It comes as little surprise to those in midstream that during the past year we have continued to see LNG initiatives garner more attention than pipeline projects. However, terminal construction drives new pipeline construction.

Ecuador in Talks to Transfer 301-Mile OCP Oil Pipeline, Assets, and Liabilities to State Control

Ecuador is holding talks to transfer a private oil pipeline operated by OCP, as well as its associated infrastructure, liabilities and assets, to state control, the government announced in a statement on Friday.

Constellation's Everett LNG Plant Receives Trinidad Delivery Despite Declining U.S. Gas Imports

U.S. energy group Constellation Energy's Everett LNG import plant in Massachusetts took delivery of LNG from Trinidad over the weekend.

Petrobras Reports Start of Production at Sepetiba FPSO in Brazil's Santos Basin

Brazilian state-run oil company Petrobras' Sepetiba floating production storage and offloading (FPSO) unit started production on Sunday, the oil giant said in a securities filing.

Global News January 2024

Latest industry developments from around the world!

Ecuador Triumphs in International Arbitration, Avoids $198 Million Payment to Worley

Ecuador's procurator said on Friday the country has won an international arbitration and will not be liable to pay $198 million to engineering firm Worley International Services over oil project contracts.

Trinidad: First Output from Venezuela's Dragon Gas Field Expected in 2 Years

A natural gas project to be developed in Venezuelan waters by Shell and Trinidad and Tobago's state firm National Gas Company could achieve first output in the next two years if a positive investment decision is made, Trinidad officials said on Friday.

Shell, Trinidad's NGC Get License to Develop Venezuela's Dragon Gas Field

Shell and Trinidad and Tobago's National Gas Company (NGC) were awarded a license by Venezuela on Thursday to develop the 4.2 trillion cubic feet (Tcf) Dragon gas field and export its production to the Caribbean nation.

Looking Back at the Biggest Pipeline Stories of 2023

(P&GJ) – In this final issue of P&GJ for 2023, the staff – with more than a little help from our readers – takes a look back at the sometimes chaotic year in midstream that was 2023.

China's Sinochem Buys Rare Venezuelan Oil Cargo After U.S. Suspends Sanctions

China's Sinochem Corp. has bought a million barrels of Venezuelan crude oil for arrival in December, a rare purchase as the state oil and chemicals group capitalizes on Washington's suspension of sanctions on the South American producer.

Venezuela's PDVSA, Spain's Repsol Agree to Revive Oil Joint Venture

Venezuelan state oil company PDVSA and joint venture partner Repsol on Monday signed an agreement amending the original terms of a project in the country, aiming to revive its crude and gas output.

Shell's Gas Project License Talks with Venezuela Hinge on Dispute Over Future LNG Prices

A disagreement between Shell and Venezuela's state company PDVSA over future LNG prices has gridlocked talks on a license for Shell and Trinidad and Tobago's National Gas Company to operate a Venezuelan gas field, two people close to the negotiations said.

Chevron, PDVSA Seek 15-Year Extension for Joint Ventures, Eye Crude Production Boost

PDVSA and Chevron have expanded operations since late last year under a special U.S. license, allowing Venezuela to resume crude exports to what was its largest market, the United States. But more investment is needed to reach production levels seen before oil sanctions were first imposed in 2019.

Venezuela Urges BP, Chevron, and Shell to Revive Offshore Gas Project Amid Territorial Dispute

The request to act on blocks that have not been touched in more than a decade comes amid an escalating territorial dispute with Guyana that has rattled the country and led to an emergency meeting of the United Nations Security Council.

Venezuela's Oil Exports Remain Almost Unchanged, Middlemen Seek Deals

Venezuela's oil exports remained almost unchanged in November at 651,000 barrels per day (bpd) even as an easing of U.S. sanctions is now allowing sales to trading houses, according to shipping and tanker tracking data.

Guyana Moving Toward New Offshore Gas Pipeline in Liza Offshore Fields

(P&GJ) — With the Gas To Energy project, the government of Guyana will — for the first time — produce energy using the associated natural gas produced in the Liza offshore fields of the Stabroek Block.

Trinidad's Atlantic LNG Restructuring to Shrink Shell's Stake, Boost BP's

Shell's ownership in Trinidad and Tobago's Atlantic LNG facility will shrink, while BP and Trinidad's state-owned National Gas Co. will increase their stakes in a restructuring agreement to be signed this week, according to three people familiar with the matter.

Petroecuador Exceeds 400,000 bpd Crude Oil Output; Addresses Oil Spill in Shushufindi River

Ecuador's state oil company Petroecuador said Sunday that crude oil output surpassed 400,000 barrels per day (bpd) for the first time since January 2021.

Global News December 2023

Latest industry developments from around the world!

Sierra Madre Natural Gas Pipeline Project Reaches Milestone with EPC Contract Award

The 500-mile Sierra Madre pipeline will be the primary natural gas supply path to transport up to 2.8 Bcf/d from the U.S. border to the first phase of Mexico Pacific's 15 million tonne per annum Saguaro Energia LNG export facility in Puerto Libertad, Sonora, Mexico.

Danish Fund to Invest $10 billion in Mexican Green Hydrogen Development Hub

One of Mexican President Lopez Obrador's key infrastructure projects is the development of an industrial corridor connecting the Pacific and Atlantic oceans in Mexico's poorer south.

Brazil Midstream Hopes for $20 Billion Infusion by 2028

(P&GJ) – The Brazil gas and pipelines sector hopes to attract about $20 billion in investments for its development by 2028, thanks to de-monopolization of the industry and the adoption of new legislation, according to recent statements, made by leading market participants and state analysts.

Venezuela Producing 850,000 bpd of Oil, Hopes to Recover Market Share in U.S.

Venezuela is currently producing some 850,000 barrels per day (bpd) of oil and hopes to soon reach 1 million bpd, the country's deputy oil minister, Erick Perez, said on Wednesday, following the temporary lifting of U.S. sanctions on the nation.

Ecopetrol Considers Gas Imports from Venezuela's PDVSA for December 2024

Colombia's majority state-owned oil company Ecopetrol is exploring an offer from Venezuela's PDVSA to supply the Andean country with gas from December 2024, it said on Tuesday.

Venezuela Close to Approving Offshore Gas License with Trinidad, Shell

Venezuela is close to approving a license for Shell and the National Gas Company of Trinidad and Tobago to develop a promising offshore natural gas field and export its production to the Caribbean country, two people close to the matter said.

Global News November 2023

Latest industry developments from around the world!

Big Traders Strike Deals with Middlemen to Tap Venezuela's Free-Flowing Oil

A broad easing of U.S. sanctions on Venezuela's oil industry has forged marriages of convenience between global commodities traders and little-known middlemen that dominated its exports during the period of restrictions.

Maurel & Prom Signs Pact to Expand Venezuela Oil, Gas Development

Venezuelan state oil firm PDVSA and French energy company Maurel & Prom have signed an agreement aimed at expanding operations and increasing crude and gas output at their joint venture in Venezuela's western region, the companies said.