Latin America

Oilfield services (OFS) companies continue to report steady growth in revenue and upstream activity throughout Latin America, with onshore and offshore operations each playing a role. Halliburton Co. reported a 40% year/year increase in Latin America revenue to $915 million during the first quarter. The growth was “due primarily to increased well construction services and…

Global natural gas consumption is expected to rebound this year as easing price volatility and rising economic activity boosts LNG imports from China and South Asia and North America’s power market continues to cut coal-fired capacity, according to the Gas Exporting Countries Forum (GECF). Researchers with the organization headquartered in Qatar in the annual report…

Expect more natural gas output from Latin American nations, according to recent earnings calls and presentations from regional government officials and executives. Management at Brazil’s state oil company Petrobras SA said they were working to employ more of the natural gas from the prolific offshore pre-salt deposits. “We will search for new segments for our…

Click here to listen to the latest episode of NGI’s Hub & Flow, which looks into the crystal ball and offers predictions for this year’s energy themes in Latin America.  NGI Latin America Senior Editor Christopher Lenton chats with Rice University’s Francisco Monaldi about the major natural gas and oil trends from Mexico to Argentina,…

Click here to listen to the latest episode of NGI’s Hub & Flow, which looks into the crystal ball and offers predictions for this year’s energy themes in Latin America.  NGI Latin America Senior Editor Christopher Lenton chats with Rice University’s Francisco Monaldi about the major natural gas and oil trends from Mexico to Argentina,…

OPEC last week stuck to its global demand forecasts for full-year 2022 and next year. In its monthly market report, the cartel forecast global oil demand growth this year of 2.5 million b/d and growth in 2023 of 2.2 million b/d. Researchers cited the potential for recently eased pandemic restrictions in China to drive fresh…

Oilfield services companies are seeing a steady uptick in upstream activity and revenue across Latin America, both offshore and on land. “Internationally, growth continues to be led by Latin America, West Africa, and the Middle East,” said Baker Hughes Co. CEO Lorenzo Simonelli during the firm’s third-quarter earnings call. “In all of these markets, offshore…

Houston-based Baker Hughes Co. kicked off third quarter earnings season for the oil and natural gas sector on Wednesday, acknowledging challenges but optimistic about the emerging upcycle, with a continuing bullish view for LNG. The oilfield services (OFS) giant operates around the world in four segments: OFS, Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS),…

Latin America doesn’t have any offshore wind today, but that could change soon as the region tries to build out a hydrogen industry. Off-grid green hydrogen projects should spur Latin America to a sharp increase in offshore wind projects, with capacity reaching 34 GW by 2050, according to analysis from Wood Mackenzie. Offshore wind activity…