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Offshore E&P activities ramping up in Latin America

Latin American nations are ramping up offshore exploration, development, and production activities. This increase is largely due to discovery of new reserves in Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Peru, and Venezuela. The economic future of these countries is dependent on their under-explored hydrocarbon region. by Robin Dupre, Offshore Magazine, October 29, 2014 Offshore exploration, development,…

Brazil’s OGPar expects Tubarao Martelo output to peak at 30,000 b/d in 2016

Brazilian oil producer OGPar expects outputs from Tubarao Martelo to peak at about 30,000 barrels per day in 2016. Over the next few years, the company will invest $200 – $500 million in two additional production wells and three additional injection wells at the field in order to increase production. by Jeff Fick, Platts, October 21,…

Brazil protects giant swathe of Amazon rainforest

Tuesday, the Brazilian government announced it put an area of the Amazon rainforest under federal protection. The environmentally rich area is larger than the U.S. state of Delaware and has been named Alto Maues. Under protection as a federal reserve means that forest clearing and similar development in the area are forbidden. by Marcelo Teixeira, Reuters,…

China faces risks in Brazil’s energy sector

Since 2009 China has invested over $10 billion for oil development in Brazil. Currently, due to price controls, local content requirements and the looming Brazilian presidential election, the investment is entering a cautious mode. by Paul Welitzkin, China Daily USA, October 12, 2014 China has put billions in Brazil’s energy sector since 2009, but a report…

Bolivia’s YPFB confirms talks with Petrobras to extend natural-gas supply deal

Petrobras is in talks with its Bolivian counterpart Yacimientos Petroliferos Fiscales Bolivianos to extend the natural-gas supply contract that is set to expire in 2019. The new contract will cover 2020 and beyond. Petrobras currently imports around 30 million cubic meters of natural gas a day from Bolivia due to the fact that Brazil is…

Brazil’s natural gas demand rises 12.5% year-to-date through August

Brazil’s natural gas consumption is up 12.5% from January through August when compared to the same period of 2013. The Brazilian Association of Piped Gas Distributors released the figures Thursday stating that nationwide consumption of natural gas reached an average of 81.67 million cubic meters. The rise is caused mainly by gas-fired thermoeletric plants which…

Petrobras’ Sergipe-Alagoas discoveries hold light oil, condensate

Brazilian state-run oil company, Petrobras has discovered very light oil in the Sergipe-Alagoas Basin off the northeast coast. The oil has been rated with an API anywhere from 39 to 44, averaging at about 40 API. The string of six discoveries is helping out the country by creating exploration buzz. by Jeff Fick, Platts, September 18,2014…

NPD Solarbuzz: Latin America, Caribbean Region to install 9 GW of solar PV within five years

Solar photovoltaic technology is increasing rapidly across the Latin America and Caribbean region. Currently the region exceeds 22 gigawatts of solar PV pipeline across all phases of development. Within the next five years, 9 more gigawatts of projects will be installed. The region is a good candidate for PV pipelines because the region currently has…

Brazil ‘falling off world oil map’ over failed policies

Due to the increased costs, reduced efficiency, and increased risk resulting from Brazil’s energy policies, investors are beginning to lose interest. Countries like Mexico, Iran, Iraq and Algeria are causing Brazil to lose out because investors are more attracted to their policies that are more welcoming to private sector investment. The IBP has stated that…

Brazil to export up to 2 million b/d by 2018-2020

Brazil’s ANP announced that growing production from the country’s subsalt oil fields will make the country a large crude oil exporter. Exports are expected to be anywhere from 1.5 million to 2 million bpd by the year 2022. The increase in sales should generate up to $65 billion positive impact on Brazil’s trade balance. by Jeff…

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Site Last Modified: October 31, 2014