Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Guyana's average oil production fell to some 620,000 barrels per day in January from 656,000 bpd in December, the lowest monthly figure since August, the Natural Resources Ministry said on Friday in a report. A consortium led by U.S. oil major Exxon Mobil and involving Hess and China's CNOOC controls all crude and gas output in... Continue Reading →
(oilnow.gy) High impact exploration drilling is expected to remain stable in 2025, with 65-75 wells targeted for completion, compared to 69 in 2024. In this regard, South America could see 17 of these wells being drilled, making it the busiest region globally this year. This is according to energy market research and intelligence group, Westwood... Continue Reading →
(oilprice) Colombia’s president, Gustavo Petro, has canceled a joint venture between state energy company Ecopetrol and Occidental Petroleum on environmental concerns regarding hydraulic fracturing. Bloomberg reported that Petro had shared his concern on national TV, saying he was against a recent expansion of the deal between Ecopetrol and Oxy because it involved fracking, going counter... Continue Reading →
(Reuters) - Colombian energy company Ecopetrol said on Monday it has reached an agreement to renew its oil joint venture with Occidental Petroleum in the U.S. Permian basin in Texas. There had been uncertainty over the future of the joint venture after Ecopetrol, which is majority state owned, backed out of a separate deal last August to acquire $3.6... Continue Reading →
(Reuters) - Guyana's economy achieved its fifth consecutive year of double-digit growth in 2024, expanding 43.6% as oil output and exports showed solid increases, the Finance minister said on Friday, but the expansion is expected to slow this year. Latin America's newest oil producer last year became the region's fifth-largest crude exporter after Brazil, Mexico,... Continue Reading →
(Reuters) - GeoPark will not go ahead with its planned $530 million acquisition of Spain-based Repsol's oil and gas production assets in Colombia, the company said on Tuesday. The acquisition, announced in November, included Repsol's oil extraction operation in central Colombia and a 25% stake in SierraCol Energia Arauca. The termination comes after Repsol's partner in SierraCol exercised its... Continue Reading →
(offshore-energy.biz) Despite the challenges hitting the fossil fuel industry, demand for hydrocarbons remains steady, as confirmed by the global engineering, procurement, and construction (EPC) contracting activity across the offshore oil and gas landscape. The batch of new projects, which are expected to reach the EPC stage this year, will lead to awards worth billions of... Continue Reading →
(Reuters) - Guyana's oil exports rose 54% last year to some 582,000 barrels per day (bpd), fueled by European refiners' demand for easy-to-process sweet crudes to replace some Middle Eastern grades, according to traders and shipping data from financial firm LSEG. Since it started exporting oil in early 2020, the burgeoning oil nation has emerged as the... Continue Reading →
(Oilprice.com) Colombia is a major producer of oil and gas and is steadily developing its renewable energy industry. In 2016, the South American state launched its Energy Plan 2050, aimed at diversifying the country’s energy mix to include wind power plants, solar PV, and geothermal energy generation, and ensure a reliable energy supply in the... Continue Reading →
(Reuters) Colombia's national environmental licensing agency (ANLA) on Friday said it has awarded an environmental license to Anadarko Colombia Company, a subsidiary of Occidental Petroleum, to carry out oil and gas exploration in the country's Caribbean waters. The exploration will take place in Block Col-1, the ANLA said in a statement, where Environment Minister Susana... Continue Reading →
Brazil Energy Insight 