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(Reuters) - Ecuador's heavy-crude oil pipeline will restart pumping on Dec. 31 following maintenance to solve issues caused by erosion in the country's Amazon region, while exports of Napo crude will begin on Jan. 3, crude transport company OCP Ecuador said on Wednesday. The government of President Guillermo Lasso declared force majeure over its oil... Continue Reading →
Rio de Janeiro, December 23, 2020 - Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/19/2021, informs that it signed today with Carmo Energy S.A. a contract for the sale of all its stakes in a set of 11 concessions of onshore production fields, with integrated facilities, located in the state... Continue Reading →
(Reuters) Latin America's oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana, and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday for offshore oil reserves that analysts say are some of the most promising... Continue Reading →
(Reuters) - Erosion in the Amazon region has ruptured Ecuador's state-owned pipeline SOTE, the same problem that led to its shutdown last week, the Energy Ministry said on Tuesday. The collapse in the pipeline's tubing did not cause any environmental damage given it was empty following its suspension, along with the privately-owned OCP pipeline, last... Continue Reading →
(Reuters) - Ecuador hopes to hold at least four auctions in 2022 to award oil blocks and the operation of Esmeraldas, its largest refinery, to private companies as it seeks to pull in billions of dollars in investments, Energy Minister Juan Carlos Bermeo said on Friday. The blocks up for grabs are currently controlled by... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador said on Friday that production at five of its blocks was reduced by some 31,000 barrels because of an electrical failure in the country's Amazon region. The failure occurred on Thursday at a substation run by the state electrical company, leaving areas of Sucumbios and Orellana provinces -... Continue Reading →
(Reuters) - Global energy trader Gunvor Group (GGL.UL) is under investigation by the U.S. Commodity Futures Trading Commission (CFTC) in relation to its dealings in Ecuador, the company said in its first half 2021 results. Earlier this year, former employee Raymond Kohut pleaded guilty to involvement in what the U.S. Department of Justice called a... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador is facing arbitration claims stemming from contractual disputes with two private contractors, the company said on Friday, adding that the processes would not affect crude output. Kamana Services and Servicios Petroleros Igapó separately presented claims stemming from disputes over services contracts signed with Petroecuador in 2016 to the... Continue Reading →
(WO) Vitol Group and Trafigura Group -- both barred from new oil-trading business with Mexico’s state producer for alleged corruption -- will be subject to the ban until at least the end of 2024 while the government reviews the conduct of other commodity traders, Energy Minister Rocio Nahle said. Pemex won’t give new work to... Continue Reading →
(Reuters) - Mexico's government is investigating the world's largest independent energy trader Vitol over "irregularities" in the documenting of its refined oil products entering Mexico that could lead to criminal charges for tax evasion, the country's tax chief told Reuters. The probe of Vitol (VITOLV.UL) is part of a drive to investigate alleged import tax... Continue Reading →
Brazil Energy Insight 