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(Reuters) - Mexico's cash-strapped state oil firm Petroleos Mexicanos (Pemex) is under pressure to resume financial debt repayments despite promises from President Andres Manuel Lopez Obrador that his government would pay them until 2024. On Thursday, Pemex (PEMX.UL) is due to pay some 1 billion euros to redeem a 2015 bond, two sources with knowledge... Continue Reading →
(Reuters) - Brazil's economy has entered a phase of stagnation that will persist next year as unrelenting inflation curtails consumer spending and policymakers struggle to find answers, a Reuters poll showed. Risks are tilted to the downside, with a potential relapse into contraction in the cards due to worries about a prolonged Russian offensive in... Continue Reading →
(Reuters) - Top oilfield services firm Schlumberger (SLB.N) reported a higher first-quarter profit on Friday and increased its dividend by 40%, as rising oil prices boosted demand for services and equipment. Oil prices climbed to their highest in more than a decade during the quarter as Russia's invasion of Ukraine upended global supply dynamics. Oilfield service firms,... Continue Reading →
Global completions specialist Tendeka has appointed a new business development manager for Latin America to expand the use of technologies across the region. Maurilio Solano will be working with local operators to implement Tendeka’s key technologies such as FloSure, Filtrex and PulseEight EAV (Electronic Ambient Valve) across Latin America. With almost 30 years in the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/16/22, informs that today it started the binding phase regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which owns offshore fields in... Continue Reading →
Italian oil and gas company Eni has offloaded and exported the first oil cargo from the Miamte FPSO, operating at the Miztón, Amoca, and Tecoalli fields in Area 1, Gulf of Mexico. Achieved on Thursday, this marks an important milestone for the oil and gas sector in Mexico, with Eni being the first international energy... Continue Reading →
(Reuters) - Record volumes of fuel oil from Latin America landed in the United States in March, customs data showed, as refiners snapped up alternatives to Russian feedstocks ahead of Washington's April 22 deadline to end U.S. imports of Russian oil. U.S. Gulf Coast refiners that use fuel oil to supplement heavy crude went hunting... Continue Reading →
(Reuters) - Mexican wants to build new gas liquefaction facilities to export excess gas and will put the plants out to tender if he does not get commitments for their construction within a month, President Andres Manuel Lopez Obrador said on Friday. Lopez Obrador urged U.S firm Sempra, which has a liquefied natural gas (LNG)... Continue Reading →
(Reuters) - Mexico will use the extra revenue it collects from higher oil prices to subsidize domestic gasoline and diesel prices, Deputy Finance Minister Gabriel Yorio told Reuters on Friday. While production has slid significantly in recent years, Mexico remains a major oil producer and exporter. Without the fuel subsidy, annual inflation, which hit 7.29%... Continue Reading →
(Reuters) - Two U.S. liquefied natural gas (LNG) projects took major steps toward launching this week as Russia's threats to cut energy supplies to Europe drives up demand and prices for the super-chilled fuel. Developers Sempra Energy (SRE.N) and New Fortress Energy Inc (NFE.O) advanced agreements on separate projects, one of which could be producing LNG within 12 months.... Continue Reading →
Brazil Energy Insight 