Central & South America
BP, PDVSA Rush to Complete Gas Deal Before Venezuela Election
BP, Venezuela's PDVSA and Trinidad and Tobago's National Gas Company are speeding negotiations for a Venezuelan license to develop natural gas deposits in the Caribbean Sea, four people familiar with the matter said.
Mid-Year Global Forecast: Midstream Responding to Demand from LNG Projects
Global pipeline construction surged to nearly 42,000 miles in mid-2024, driven by increased LNG and hydrogen infrastructure needs, with significant expansions in North America and Europe.
Projects July 2024
Enbridge selects Barnard, CBNA for Great Lakes Tunnel; Energy Transfer joins carbon capture initiative in Louisiana; YPF advances $2.5 billion Vaca Muerta pipeline project; Piñon Midstream boosts Delaware Basin gas capacity; Mexican developer seeks U.S. permit for LNG export.
Global News July 2024
Latest industry developments from around the world!
Equinor Awards Valaris $500 Million Drilling Contract for Brazil's Raia Field
Equinor has awarded a drilling contract in Brazil worth $498 million to Valaris on behalf of partners in the Raia field development project, the Norwegian company said on Monday.
Ecuador, Chile's ENAP Renegotiate Oil Block Agreement with $90 Million Investment
The new agreement, signed on July 15 between the ministry and the company ENAP SIPEC, which already operates the block, will allow an increase in reserves by 5.6 million barrels of crude oil
Trinidad Court Reaffirms ConocoPhillips' Claim Against Venezuela
Trinidad and Tobago's High Court has reaffirmed a decision recognizing ConocoPhillips' arbitration claim against Venezuela, which could freeze the Caribbean country's payments to its neighbor for joint natural gas projects.
Bolivia Makes Largest Natural Gas Discovery Since 2005 in "Mega Field"
Bolivian President Luis Arce on Monday announced the discovery of a 1.7 trillion cubic foot natural gas reserve located north of the country's administrative capital, La Paz.
Shell Advances Manatee Gas Project Development in Trinidad
Shell on Tuesday decided to proceed further with the development of the Manatee gas field in Trinidad, as it looks to strengthen its liquefied natural gas business.
Billionaire Carlos Slim's Grupo Carso Partners with Pemex on Natural Gas Project
Grupo Carso, the Mexican holding company controlled by the family of Mexican mogul Carlos Slim, said on Friday that it has signed an exploration and extraction services contract with state oil firm Pemex for the stalled Lakach natural gas project.
Golar LNG Signs 20-Year Floating LNG Vessel Deal in Argentina
Golar LNG said on Friday it has partnered with Pan American Energy to deploy a floating liquefied natural gas (FLNG) vessel for 20 years to export domestic natural gas as LNG from Argentina.
U.S. Court May Delay Hearing on Citgo Bids to September Amid Auction Deliberations
A U.S. court has been asked to postpone to Sept. 19 a hearing to present the winning bid in an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum, according to a motion filed with the court on Friday.
Fulcrum LNG Teams Up with McDermott, Baker Hughes for Guyana Gas Project
A proposed large natural gas project in Guyana by U.S. energy developer Fulcrum LNG includes partnerships with U.S. oil service company Baker Hughes and engineering firm McDermott, the country's vice president said on Thursday.
Peru State-Run Oil Firm Reports Crude Leak from Illegal Pipeline Connection
Peru's state-run oil producer said on Tuesday it had detected an illegal hook-up that caused crude to leak out from its pipeline in the north of the country that runs from the Amazon to the Pacific.
Guyana Selects Firm Led by Ex-Exxon Exec to Engage with Exxon on Gas Project
A newly formed company headed by a former ExxonMobil executive was selected to support the Guyana government and Exxon to create a new independent natural gas development in the country, Guyana's Ministry of Natural Resources said.
Grupo Potencial Invests $37 Million in Brazil's Longest 'Green Fuel' Pipelines
Brazil's privately owned Grupo Potencial will invest $37 million to build two "green fuel" pipelines in the south of the farm powerhouse, the company's Vice-President Carlos Hammerschmidt said on Monday.
Petroecuador Declares Force Majeure on Napo Crude Exports Due to Pipeline Shutdown
Ecuador's Petroecuador has declared force majeure over deliveries of Napo heavy crude for exports following the shutdown of a key pipeline and oil wells due to heavy rains hitting the country.
Fulcrum LNG to Assist Guyana in Developing Natural Gas Resources
U.S. firm Fulcrum LNG was selected to help Guyana develop a plan to design, finance, construct and operate a natural gas processing facility in the South American country, President Irfaan Ali said on Thursday.
TGS Proposes $500 Million Expansion of Vaca Muerta Gas Pipeline
Argentine gas transportation firm TGS said on Wednesday it has proposed investing $500 million to expand the capacity of a government-owned natural gas pipeline that connects to the country's massive Vaca Muerta shale oil and gas formation.
Global News June 2024
Latest industry developments from around the world!
BP, Trinidad's NGC Receive U.S. License for Gas Development with Venezuela
British oil major BP and Trinidad and Tobago's state energy firm NGC have received a two-year license from the U.S. Treasury Department to negotiate and develop the Cocuina-Manakin gas fields with Venezuela, Trinidad's energy minister said on Wednesday.
Trinidad Court Upholds ConocoPhillips' $1.3 Billion Claim Against Venezuela
A Trinidad and Tobago court order has granted ConocoPhillips the right to enforce a $1.33 billion claim against Venezuela for past expropriations, a decision that could complicate proposed offshore gas ventures between Trinidad and Venezuela.
Hess Shareholders Approve $53 Billion Chevron Acquisition Amid Exxon Arbitration
Acquiring oilfields in Guyana from Hess would provide Chevron with a means to mitigate the geopolitical risks tied to the TengizChevroil project in Kazakhstan. In addition, this acquisition could counterbalance the cost overruns experienced at Chevron's Australian LNG projects, which have been affected by labor and operational issues.
Amos Global Energy Waits For License to Develop Gas Resources Offshore Venezuela
Venezuela has about 30 trillion cubic feet of non associated gas reserves, which remain largely undeveloped due to lack of investment, and more recently US sanctions.
Shell, BP, EOG Resources Bid On Oil And Gas Blocks Offshore LNG-Rich Trinidad And Tobago
Trinidad is Latin America's largest producer of liquefied natural gas (LNG), with installed capacity of 15 million metric tons per year of the super-cooled gas. It also is one of the world's biggest exporters of methanol and ammonia, but its plants have been operating below full capacity in recent years due to a lack of gas.
Argentina’s YPF Begins Building Vaca Muerta Oil Pipeline
The initial phase will run from Añelo in Neuquén to Allen in Río Negro, connecting with the Oldelval system, Argentina's largest oil pipeline network. This project aims to enhance the oil transportation system in the Neuquén basin, significantly boosting transport capacity to refineries and the port of Bahía Blanca.
Brazil’s Petrobras To Retain Gas Pipeline Following Landmark CADE Reversal
This decision allows the state-owned oil giant to keep five oil refineries and the Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG) gas pipeline operator, which it had been ordered to sell under a 2019 agreement intended to address its market dominance.
ExxonMobil Faces October 2024 Deadline To Develop ‘Large’ Natural Gas Discovery Offshore Guyana
The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The consortium, which includes Hess Corp and CNOOC Ltd, is required under its production agreement to return to the government by October about 20% of its massive Stabroek block if that area remains undeveloped.
Spain's Repsol Gets U.S. License to Expand Venezuela Oil, Gas Projects - Sources
Spain's Repsol has received a license from the U.S. Treasury Department authorizing the energy company to continue and expand its oil and gas business in Venezuela, sources close to the decision said on Thursday.
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.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
