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(Reuters) - Petroleos Mexicanos (Pemex) has made progress in talks with global energy trader Vitol about resuming trading ties that broke down last year during a bribery scandal, and the companies must iron out some issues such as compensation for damages Mexico's state oil company suffered, two sources at Pemex said. The sources at Pemex... Continue Reading →
(Reuters) - A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador at accounts in the country as a result of a dispute over a $391 million settlement award that Anglo-French oil company Perenco says remains unpaid, a document seen by Reuters show. Ecuador's government pledged in June 2021 to honor the debt,... Continue Reading →
(Reuters) - Guyana's government expects that an upcoming auction for oil and gas blocks will attract new companies to its energy industry, President Irfaan Ali said on Monday, following years of domination by U.S. giant Exxon Mobil (XOM.N) and its partners. As part of his first official trip to Washington, Ali expects to hold talks with U.S.... Continue Reading →
(Reuters) Mexico's state oil company Petroleos Mexicanos (Pemex) disclosed the names of two former managers that allegedly received bribes from the world's largest independent commodity trader, Vitol, newspaper Reforma reported on Friday, citing independent journalism organization Quinto Elemento Lab. Citing a document obtained through the Mexican transparency institute, Quinto Elemento named the two former general... Continue Reading →
(Reuters) - More than two weeks of protests in Ecuador caused state-run oil company Petroecuador to lose 1.99 million barrels of oil production, the company said on Friday, adding that it expects to reach 90% of pre-crisis output in the next week. Protests erupted in Ecuador in June to demand lower fuel prices and limits... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador hopes to be able to lift a declaration of force majeure over its Oriente crude exports by July 7, following an agreement between the government and indigenous leaders that put an end to over two weeks of protests, a company executive said on Thursday. A pact to end... Continue Reading →
(Reuters) - Exports of Ecuador's flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output, state-run Petroecuador said on Wednesday. At least eight people have died and road blockades have led to food and medicine shortages. The crisis has halved oil output, the country's main source... Continue Reading →
(Reuters) - Ecuador's state-owned oil company Petroecuador declared force majeure late on Saturday over the impact of protests against the government's social and economic policies in the Andean country, while President Guillermo Lasso tried to clamp down on unrest. The oil company declared force majeure for its exploration, exploitation, transport and commerce sectors - halting... Continue Reading →
(Reuters) - Ecuador oil company Petroecuador says it is working to shut down gas flares in the Amazon to comply with a court-imposed deadline, but progress is too slow for nearby communities who allege the flares cause cancer and other illnesses. A provincial tribunal in Sucumbios province last year ordered Petroecuador and a handful of... Continue Reading →
(Reuters) - Ecuador's state-run oil company Petroecuador on Thursday launched an auction for private companies to bid for a flagship offshore natural gas field, aiming at increasing the Andean country's production. Petrocuador is looking for a partner for exploring and developing the Amistad natural gas field, at the nation's Guayaquil Gulf, currently producing 24 million... Continue Reading →
Brazil Energy Insight 