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Argentina, Chile state firms aim to boost offshore natural gas output

Argentina’s YPF and Chile’s ENAP have agreed to invest around $200 million to boost offshore oil and natural gas production in southern Argentina. The aim of the agreement is to increase gas output to 4 million cubic meters a day from the current 2.4 million cubic meters a day over the next three years. by Charles…

Venezuela says OPEC to ‘increase coordination’ in face of oil price fall

Venezuela’s Foreign Minister Rafael Ramirez has said that OPEC will be increasing coordination in the face of the fall in oil prices. It will be determined at the organization’s November 27 meeting whether or not oil production will be cut in member countries. by Marguerita Choy, Reuters, November 17 Nov 17 (Reuters) – Venezuela’s Foreign Minister…

Russia says in talks with Venezuela over countering oil price falls

Russia and Venezuela are discussing a joint action to combat falling oil prices. The next meeting between the countries will be on November 25 where a more detailed discussion is expected to take place. by Gabriela Baczynska, Reuters, November 18, 2014 Nov 18 (Reuters) – Russia and Venezuela discussed joint action to combat falling oil prices,…

Bolivia Confirms Meeting of G77 Energy Ministers for Late November

On November 28-29, ministers of energy and hydrocarbon of several countries in the G77, plus China, will meet in Tarija to analyze development challenges in the sector and the management of natural resources. So far, 20 ministers from Latin America, Asia and Africa are expected to attend the Bolivia gathering, by Latin American Herald Tribune,…

Renewables investment in Mexico reaches US$11bn since 2003

Since 2003, Mexico’s renewable energy sector received $11 billion in direct foreign investment. Investments have mainly been from Spain, Germany and the United States. Mexico is currently ranked eighth globally in renewable energy investment. by Adam Critchley, BN Americas, November 19, 2014 Mexico’s renewable energy sector received US$11bn in direct foreign investment during the 2003-13 decade,…

Mexico’s Pemex approves post-reform corporate revamp

Pemex has finalized a corporate restructuring, including the creation of new business units that will focus on fertilizers and ethylene. The company will maintain its money-making exploration and production division and consolidate poorer performers focused on natural gas, refining and petrochemicals into a single entity called Industrial Transformation. by David Alire Garcia, Reuters, November 18, 2014…

Russia Agrees to Buy 1.6 Million Tons of Venezuelan Oil

On Monday, Russia closed a deal to purchase 1.6 million tons of oil and nine tons of petroleum derivatives from Venezuela over the next five years. This is the second contract signed between the two countries in order to provide Russia with Venezuelan oil. by Latin American Herald Tribune, November 2014 MOSCOW – Russia closed…

Caribbean FLNG undocks in China and prepares for Pacific Rubiales’ Colombia offshore projects

A celebration was held for the undocking of the Caribbean FLNG facility from the Wison Offshore & Marine dry dock in Nantong, China. This even represents a game-changing project that brings the industry one step closer to making floating LNG a reality. by Paddy Harris, Oil and Gas Technology, November 19, 2014 A ceremony was held…

Pdvsa guarantees gasoline supply in central states

PDVSA President Eulogio del Pino said gasoline supply was guaranteed in Venezuelan central states. by Andreína Trujillo, El Universal, November 19, 2014 President of state-run oil company Petróleos de Venezuela (Pdvsa) Eulogio del Pino said gasoline supply was guaranteed in Venezuelan central states. “Pdvsa guarantees gasoline supply in Carabobo and Aragua states. Gasoline stations will be…

PDVSA and Rosneft ink oil products agreeement

PDVSA and Rosneft ink oil products agreeement

PDVSA has signed a long-term contract with Rosneft. The document is for supplies of over 1.6 million tons of oil and 9 million tons of oil products of Venezuelan production to Rosneft withing five years. A conference will be held by the two parties on November 21 to discus the proposals on the enhancement of…

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