Central & South America
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.
New Fortress to Charter FSRU for LNG Import Terminal in Brazil
Liquefied natural gas (LNG) developer New Fortress Energy said on Monday it has signed a deal to charter a floating storage and regasification unit (FSRU) from Brazil's Petrobras starting in December.
A Tale of Setbacks as Venezuela's Citgo Heads to U.S. Auction
For the past four years, the United States protected oil refiner Citgo Petroleum from creditors seeking to seize Venezuela's foreign crown jewel for billions of dollars in claims. But on Monday, a U.S. judge will kick off an auction expected to place the Houston-based company in the hands of rivals or investors.
Trafigura Seeks to Charter Tanker for Exporting Venezuelan Fuel Oil
Global commodities trader Trafigura is seeking to charter at least one large tanker to export Venezuelan fuel oil, according to two people with knowledge of the deal, a move that follows this week's easing of U.S. sanctions on the OPEC country's energy industry.
Global News October 2023
Latest industry developments from around the world!
U.S. Broadly Eases Venezuela Oil Sanctions After Election Deal
The Biden administration on Wednesday broadly eased sanctions on Venezuela's oil sector in response to a deal reached between the government and opposition parties for the 2024 election - the most extensive rollback of Trump-era restrictions on Caracas.
Venezuela May Redirect Oil Exports Away from China as U.S. Eases Sanctions
Exemptions to sanctions on Venezuelan oil exports that the U.S. is mulling should not result in a large crude production surge in the OPEC country, instead taking barrels away from its current main destination China, experts said.
Petrobras, Excelerate Energy Extend 10-Year Charter for FSRU Sequoia in Brazil
(P&GJ) — Under the agreement, Excelerate will continue to deploy the Sequoia to provide regasification services in Brazil, primarily at the Bahia Regasification Terminal (TR-BA) in Salvador, Bahia.
Brazil's Ocyan to Renovate Petrobras Gas Pipeline for $317.5 Million
Brazilian oil and gas services provider Ocyan has won a contract with state-run oil firm Petrobras to revitalize a network of gas pipelines in the offshore Campos Basin for $317.49 million, Reuters reported on Monday.
Eagle LNG Delivers First LNG Carrier for Caribbean Basin Service
(P&GJ) — Eagle LNG Partners LLC has announced the successful delivery of its first LNG carrier, the Coral Favia, from Anthony Veder. The 10,000 cubic meter LNG supply vessel is the first of a planned fleet from Eagle LNG offering LNG supply and bunker services for the Caribbean basin.
Trinidad to Sign Atlantic LNG Restructuring Deal, Boosting Gas Processing
The deal is expected to simplify the ownership structure of the Atlantic LNG project, with Shell and BP soon to hold 45% each and Trinidad's state-run National Gas Company (NGC) holding the remaining 10%.
Global News September 2023
Latest industry developments from around the world!
Shell and Trinidad's National Gas Company Sign New Supply Agreement
Shell Plc on Friday signed an agreement to supply Trinidad and Tobago's National Gas Company (NGC) with natural gas through 2036, including from the yet-to-be developed Manatee offshore field, according to the state gas company.
Peru Pipeline Workers Unearth Ancient Children's Cemetery
Peruvian workers unearthed eight bundles of funeral belongings believed to be around 1,000 years old while installing a gas pipeline in capital Lima, archaeologists said on Friday, saying the site likely marked a children's cemetery.
TotalEnergies to Start Gas Production at Argentina's Fenix Field in 2024
France's TotalEnergies will start drilling at the Fenix field off the southern Argentine province of Tierra del Fuego in March 2024, and expects to start production the following November, Vice President Catherine Remy said.
Venezuela's Maduro Seeks to Renew Beijing Ties Amid China-West Tensions
Venezuela's President Nicolas Maduro arrived in China on Friday, his first visit in five years, to renew engagement between the two countries as China's ties sour with the West and the South American country seeks fresh financing.
Brazil's Petrobras Signs Agreements with Compagas for Natural Gas Supply
Brazil's state-run oil company Petrobras has signed contracts for the supply of natural gas with gas company Compagas for around $1.28 billion, Compagas told Reuters on Tuesday.
Shell, Trinidad Weigh Venezuela's Natural Gas Investment Demands
Shell and Trinidad and Tobago's National Gas Company (NGC) are close to agreeing to credit Venezuela's state-run oil firm for its $1 billion investment in a gas field the three want to jointly develop, four people close to the discussions said.
Argentina's Vaca Muerta Injects Record Gas as New Pipeline Boosts Capacity
Argentina's southern Neuquen province, home to the Vaca Muerta shale formation, has posted a record daily amount of gas injected into the country's pipeline system, topping 100 million cubic meters daily.
Global News August 2023
Latest industry developments from around the world!
Brazil Mulls Tax Incentives for Green Hydrogen Projects
Brazil is mulling granting tax incentives for green hydrogen production, a key step for the energy sector to ignite renewable fuel projects and keep pace with international competitors investing in the sector, experts and sources told Reuters.
Argentina Launches Tender for Vaca Muerta Pipeline Work to Move Local Gas Supply
Argentina has launched a tender for new works to reverse the flow of natural gas on a major pipeline designed to transport Vaca Muerta shale production to the north of the country, a spokesperson for state-owned energy company ENARSA said on Friday.
COFCO Brings Brazil's First Biodiesel Pipeline Online
The Brazilian unit of China's COFCO International started operating the South American country's first biodiesel pipeline connecting its plant in Rondonopolis, at the heart of Brazil's farm country, to nearby distributors.
Venezuela’s PDVSA Fails to Curb Oil Leaks, Gas Flaring Despite Pledges
Venezuelan state oil company PDVSA has failed to make any dent in its oil spill or gas flaring woes, despite nascent promises of environmental clean-up by President Nicolas Maduro's government, according to people within the company, industry sources and an internal company document seen by Reuters.
Brazil Studying Some $30 Billion in Low-Carbon Hydrogen Projects, Secretary Says
Brazil is studying some $30 billion in projects looking to produce low-carbon hydrogen, an official from the country's mines and energy ministry said on Wednesday, estimating the country has a potential output of 1.8 billion metric tons.
Argentina's Neuquen Hits Oil Export Record with Vaca Muerta Boost
In June, Neuquen, Argentina, exported a record 2.77 million barrels of oil, fueled by higher Vaca Muerta formation production. With a newly active pipeline linking Neuquen to Buenos Aires since early July, the region is poised for increased natural gas transport.
Venezuela Appoints New Gas Vice President at State Company PDVSA
Venezuela has appointed a new vice president at PDVSA who will lead the state company's gas operations, a key move as the South American country negotiates licenses with foreign companies to develop its mostly untapped natural gas reserves.
354-Mile Vaca Muerta Pipeline Needs Investment to Deliver Argentina's Gas Dreams, Experts Say
Argentina could export the same amount of gas it consumes — about 2 trillion cubic feet (Tcf) — annually, but that would require investments of $40 billion, Javier Iguacel, Argentina's former energy minister, said.
Venezuela Expects to Sign Gas Licenses by Year-End, Oil Minister Says
Venezuelan expects to sign licenses by year-end for developing the nation's vast natural gas reserves, oil minister Pedro Tellechea said on Friday, even amid U.S. sanctions.
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