Brazil

Floating specialist Excelerate Energy LP has reached a deal to import liquefied natural gas (LNG) to Brazil as the nation continues to deal with rising power demand amid a historic drought that has left hydroelectric reservoirs depleted. Under an initial deal struck with state-owned Petróleo Brasileiro SA, aka Petrobras, Houston-based Excelerate would deploy one of…

Natural gas production in Argentina rose for a second straight month in July as the country’s Plan Gas 4 tender scheme started to show results. “Thanks to Plan Gas 4, we are achieving great production results,” Energy Secretary Dario Martínez said. “We’re breaking production records and this allows us to continue growing the sector and…

New Fortress Energy Inc. said it had few issues in the second quarter signing up customers for liquefied natural gas (LNG) and power generation assets that it is developing in Brazil, where energy demand has set records this year.  NFE said it inked eight sales agreements for 5.8 million gallons/day of LNG to underpin import…

Colombia’s Ecopetrol SA saw its production take a hit in the second quarter because of social unrest in the country but management foresees a strong recovery this year. Ecopetrol was also boosted in the second quarter by its joint venture (JV) with Occidental Petroleum Corp. in the Permian Basin’s Midland formation in West Texas. “Social…

With natural gas and liquids prices soaring, along with ethane demand, ExxonMobil hit on all cylinders during 2Q2021.  The supermajor unveiled its quarterly report on Friday, offering investors some encouraging news following a volatile run over the past few quarters. The gains were keyed to higher commodity prices and a stellar performance by the Chemicals…

Liquefied natural gas (LNG) cargoes sourced from the United States are taking up an increasingly important share of Brazil’s booming import market, according to market research firm Kpler. Brazil saw its highest-ever level of LNG in June, when imports clocked in at 657,000 tons. This compared to zero cargoes last June and 184,000 tons received…

New Fortress Energy Inc. (NFE) has reached an agreement for liquefied natural gas (LNG) supply through 2027 for most of its import terminals and power generation facilities. The company has nine import terminals in operation or under development in the Caribbean, Central America, Mexico and South America. It imports LNG in underserved markets where it’s…

After two years of slumping liquefied natural gas (LNG) demand in South America’s major economies, the tide this year has shifted. Even as the first ever cargo of LNG is arriving this week in Mexico’s Baja California Sur, the country in fact has seen a sharp slowdown in LNG imports at its Manzanillo and Altamira…

Upstream oil and gas spending in Latin America is on track for a modest year/year (y/y) recovery in 2021 after a pandemic-driven slowdown in 2020, according to Evercore ISI. Exploration and production (E&P) spending by select firms in the region fell by 14% y/y in 2020, Evercore analysts said in the firm’s 2021 Global E&P…