Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) Mexican state energy company Pemex plans to reopen old wells in a bid to squeeze more barrels out of them to boost declining oil production, according to two documents and four sources, as it struggles to reach an ambitious government target. Pemex said in a filing to the United States Securities and Exchange Commission... Continue Reading →
(Reuters) - Pemex, Mexico's heavily indebted state energy company, reported an 11.3% drop in first-quarter production of crude and condensate on Wednesday as falling sales and foreign-exchange losses contributed to a 43.3 billion peso ($2.12 billion) net loss. In a filing with Mexico's stock exchange, Pemex, one of Mexico's largest companies, attributed the production slump... Continue Reading →
(Reuters) - Oil output in Guyana fell about 3% to 627,000 barrels per day (bpd) in March from the previous month, but the 631,000 bpd produced in the first quarter was 3% higher year-on-year, data from the country's energy ministry showed on Thursday. Guyana last year became Latin America's fifth largest oil exporter after Brazil, Mexico, Venezuela... Continue Reading →
(Reuters) - Mexico lowered its estimate for average crude oil production for this year by 129,000 barrels per day (bpd), citing a "prudent approach" that takes into account the trajectory of the first months of the year. This would bring the country below the ambitious 1.8 million bpd target set by President Claudia Sheinbaum. In... Continue Reading →
(OE) Global energy technology company SLB has secured a major drilling contract by Australian oil and gas operator Woodside Energy for its ultra-deepwater Trion development project, offshore Mexico. SLB will oversee the delivery of 18 ultra-deepwater wells using an integrated services approach and AI-enabled drilling capabilities to improve operational efficiency and well quality. The full... Continue Reading →
(Reuters) - Utility firm Sempra will sell some energy infrastructure assets in Mexico and a minority stake in Sempra Infrastructure to fund its five-year capex plan of $56 billion, it said on Monday. In February, the company had forecast a five-year capital plan of about $56 billion, a 16% increase from its prior plan, with over... Continue Reading →
(oilnow.gy) The global oil industry is changing, with Guyana’s production rising quickly while Mexico’s output declines. This is according to Adrian Duhalt, a fellow at the Texas-Mexico Center at the Southern Methodist University, who pointed out their contrasting paths. “Guyana’s oil production is on a promising trajectory. With substantial increases expected in the coming years,... Continue Reading →
(Reuters) - Mexican state energy company Pemex is in talks with Carlos Slim which could see the billionaire tycoon help bankroll two of the country's most promising crude oil and natural gas fields, sources familiar with the matter told Reuters. The negotiations, which have not been previously reported, indicate Slim's growing clout in Mexico's struggling... Continue Reading →
(oilprice.com) Latin America has long been a dominant force in the global energy market, built on vast oil and gas reserves. While the world increasingly eyes renewable sources of energy for the future, hydrocarbons remain the bedrock of economic stability for the region. As energy demand evolves, national oil companies (NOCs) must not forsake oil,... Continue Reading →
(gfmag.com) With US investment in Latin America shrinking, China and India are seizing the opportunity to expand their economic reach in the region. The US remains the largest foreign investor, but its stake dropped nearly 10% in 2023 alone, to 38% of the $224.6 billion total, according to the UN Economic Commission for Latin America... Continue Reading →
Brazil Energy Insight 