Latin America & Caribbean

People , Policy & Regulations

Lula to Start Job Interviews for Petrobras Overhaul, Sources Say

Brazilian President-elect Luiz Inacio Lula de Silva has a short list of prospects for Petrobras' replacement CEO, as he expects current CEO Caio Paes de Andrade to resign on Jan. 1, 2023.

November 21, 2022

Field Development , Deepwater , International

Suriname to See $23 Billion Deepwater Boom While Venezuela Struggles

Rystad Energy foresees investments offshore Suriname reaching $23 billion through 2031 driven by activities in Block 58 while it says political uncertainties continue to muddy the outlook for Venezuela.

November 18, 2022

Exploration & Production , International

Venezuela Asks World Court to Throw Out Guyana Border Case

Venezuela had ramped up its claims to a huge, sparsely populated area west of the Essequibo River after oil was discovered offshore.

November 17, 2022

Energy Transition

Mexico Vows to Double Renewable Energy Capacity by 2030

"This new national renewable goal will be a foundation for achieving Mexico's updated nationally determined contribution," Mexican Foreign Minister Marcelo Ebrard said.

November 15, 2022

Highlights

E&P Highlights (Nov. 14, 2022): New Eni Startup; Suriname Bid Round

Here’s a roundup of the latest E&P headlines, including a new startup and bid round from the past week in the upstream oil and gas industry.

November 14, 2022

Earnings , Exploration & Production

Ecopetrol Eyes Suspension of Fracking Pilots with Exxon Mobil, Higher Output Next Year

Colombia’s oil giant Ecopetrol is taking steps to decelerate plans related to two fracking pilots with Exxon Mobil owing to opposition from President Gustavo Petro but continues to eye low single-digit production growth next year amid positive results at home and in the Permian Basin.

November 10, 2022

Earnings , Gathering & Processing

Citgo Petroleum Reports $477 Million Third Quarter Profit

In the third quarter of 2022, Citgo Petroleum's three refineries processed a combined total of 780,000 bbl/d and exported 196,000 bbl/d of refined products.

November 10, 2022

Markets , International , Tankers

US-Sanctioned Oil Tanker Stuck in Indonesia Carries Venezuelan Fuel

The U.S. Treasury’s Office of Foreign Assets Control last week imposed sanctions on the stranded tanker, Young Yong, for its part in an international oil smuggling network that Washington said supports Hezbollah and Iran’s Quds Force.

November 9, 2022

Exploration & Production , Technology

E&P Highlights (Nov. 8, 2022): Discovery Offshore Israel; Petrobras Subsea Deal

Here’s a roundup of the latest E&P headlines including a commercial discovery offshore Israel and a five-year subsea frame agreement awarded by Petrobras from the past week in the upstream oil and gas industry.

November 8, 2022

Earnings , Field Development

Petrobras’ P-71 FPSO Starts in 2022, Four to Follow

Brazil’s state-owned Petrobras looks to start up an FPSO unit this year ahead of schedule followed by four others in 2023 with combined capacity to produce 630,000 bbl/d.

November 7, 2022