Brazil

Latin American National Oil Companies Booming, but Stymied by Politics

Latin American National Oil Companies Booming, but Stymied by Politics

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…

September 6, 2022
Brazil’s Petrobras Seeing Continued Drop in LNG Imports, Natural Gas Demand

Brazil’s Petrobras Seeing Continued Drop in LNG Imports, Natural Gas Demand

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…

August 23, 2022
Excelerate Seeing Strong Brazil LNG Import Demand Despite High Prices

Excelerate Seeing Strong Brazil LNG Import Demand Despite High Prices

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…

August 15, 2022
South American Natural Gas Imports Slump Amid War in Europe

South American Natural Gas Imports Slump Amid War in Europe

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…

June 8, 2022
High Natural Gas Prices Have Asian Buyers Still Reticent Despite European LNG Slowdown

High Natural Gas Prices Have Asian Buyers Still Reticent Despite European LNG Slowdown

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…

June 3, 2022
Brazil’s Petrobras Reports Lower LNG Imports, Falling Natural Gas Demand

Brazil’s Petrobras Reports Lower LNG Imports, Falling Natural Gas Demand

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…

May 10, 2022
Shell, TotalEnergies and Petrobras say Production Underway at Deepwater Megaproject off Brazilian Coast

Shell, TotalEnergies and Petrobras say Production Underway at Deepwater Megaproject off Brazilian Coast

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…

May 3, 2022
Brazil Natural Gas Market Said Ready for Growth Following Reforms

Brazil Natural Gas Market Said Ready for Growth Following Reforms

Market-friendly reforms and rising output from the offshore pre-salt region have laid the groundwork for Brazil’s natural gas market to grow, a panel of experts agreed at CERAweek in Houston. President Jair Bolsonaro last year signed a highly anticipated natural gas law aimed at opening up access to the pipeline network and promoting competition in…

March 14, 2022
Brazil’s Rainfall Cutting into LNG Imports, Offering Some Relief for Tight Global Market

Brazil’s Rainfall Cutting into LNG Imports, Offering Some Relief for Tight Global Market

A strong start to the rainy season in Brazil has boosted hydropower reservoirs and cut the nation’s need for liquefied natural gas (LNG) imports, freeing up more of the super-chilled fuel for buyers in need across the world. A historic drought last year depleted Brazil’s reservoir levels to only 16.7% of capacity at one low…

January 27, 2022
Latin America Playing ‘Disruptive’ Role in Global LNG Market on Drought-Driven Demand Swings

Latin America Playing ‘Disruptive’ Role in Global LNG Market on Drought-Driven Demand Swings

Although headlines on current tightness in the global natural gas market have mostly focused on Europe, Latin America has played a role in the crisis as well, according to Columbia University’s Luisa Palacios. Palacios, a senior research scholar at Columbia’s Center on Global Energy Policy, spoke to NGI’s senior Mexico and Latin America editor Christopher…

January 24, 2022
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