Brazil

Bolivian gas was once the beating heart of South America’s natural gas production, with powerhouse neighbors Argentina and Brazil relying on the landlocked country’s pipeline shipments to keep the lights on. But this is seen coming to an end. Bolivian gas production will decline more rapidly than expected, falling from 1.4 Bcf/d in 2022 to…

Luis Inácio Lula da Silva, the 77-year-old leftist icon and former president of Brazil from 2003 to 2010, secured a return to the country’s top job on Sunday, narrowly defeating incumbent Jair Bolsonaro in a bitterly contested presidential runoff election. The victory by da Silva, known to supporters and detractors alike simply as Lula, marks…

National oil companies (NOCs) in Latin America enjoyed record profits in the second quarter on the back of high oil and gas prices, but they remain under pressure from governments facing economic crises. The high oil and gas price environment “has come with a downside which is that in the domestic market, it is very…

Brazilian national oil company Petróleo Brasileiro SA (Petrobras) saw falling natural gas demand and the need for fewer LNG cargoes for the second consecutive quarter as rainfall continued to replenish the nation’s reservoirs. Natural gas demand dropped to 56 million cubic meters/day (MMm3/d) in the second quarter, compared to 83 MMm3/d in the same period…

Demand for LNG imports to Brazil via the Bahia regasification terminal grew in the second quarter despite surging global natural gas prices, according to the terminal’s operator, Excelerate Energy Corp. CEO Steven Kobos hosted a conference call Thursday to discuss Excelerate’s second-quarter results. The 700 MMcf/d capacity terminal in the city of Salvador began operations…

Imports of liquefied natural gas (LNG) in South America are down this year with energy alternatives such as hydropower serving as their replacement. Kpler analyst Ryhana Rasidi told NGI that around 2.6 million tons (Mt) of LNG has landed on the continent this year as of the end of May. That’s 0.99 Mt lower than…

The wave of liquefied natural gas (LNG) cargoes headed to Europe has started to slow as storage on the continent rises, but there are signs that extreme prices could be delaying an anticipated ramp up from Asian buyers. Instead, more volumes of LNG have been steadily heading to destinations like Brazil, according to research from…

Brazilian national oil company Petróleo Brasileiro (Petrobras) saw falling natural gas demand and the need for fewer liquefied natural gas (LNG) cargoes in the first quarter as rainfall replenished the nation’s reservoirs. Natural gas demand dropped to 67 million cubic meters/day (MMm3/d) in the first quarter, compared to 81 MMm3/d in the same period last…

First-phase production has begun at the immense Mero deepwater oil and natural gas field off the Brazilian coast. Mero is located in the Libra block, more than 150 kilometers (93 miles) off the coast of Rio de Janeiro in the prolific pre-salt area of the Santos Basin. Libra is operated by Brazilian national oil company…