Chevron is exiting offshore gas positions in Venezuela in exchange for larger stakes in Orinoco heavy oil projects. The move shifts focus away from gas development, raising questions about future supply from cross-border fields.
Chevron and Shell are expected to sign new agreements in Venezuela covering offshore gas and heavy crude assets, including the Loran gas field and Orinoco Belt projects. The deals could expand foreign participation in Venezuela’s energy sector and support regional gas and crude development.
Venezuela’s delay in releasing new oil contract terms is slowing investment decisions, as companies await clarity on production-sharing agreements and tax rules.
Venezuela’s refineries are operating at just 31% of capacity as outages and maintenance issues continue to limit PDVSA’s fuel production.
Baker Hughes will supply gas turbines and compressors for a pipeline project in Argentina, supporting Vaca Muerta gas flows to LNG export facilities.
New Fortress Energy has signed a long-term lease for its TGS LNG import terminal in Brazil, marking a key step toward commercialization and future LNG-to-power growth.
PDVSA is working to contain two oil spills from a pipeline near Venezuela’s Cardon refinery, highlighting ongoing infrastructure challenges in the country’s oil sector.
The Panama Canal is operating at full capacity as rising LNG tanker demand tied to the Iran conflict pushes more U.S. exports through the key waterway.
Baker Hughes has secured an agreement with Petrobras to service critical gas turbines supporting offshore production and refining operations across Brazil.
Flex LNG has secured multi-year charter extensions for two LNG carriers and confirmed a long-term contract for a third vessel, strengthening its fleet utilization amid volatile gas markets.
Venezuela’s PDVSA plans to terminate its contract with Ecopetrol tied to the Antonio Ricaurte gas pipeline linking the two countries, raising new uncertainty around efforts to revive cross-border gas trade.
The Panama Canal Authority plans to award contracts for two new port terminals and a major gas pipeline project worth up to $8 billion, part of a broader effort to expand energy and shipping infrastructure.
Argentina’s Transportadora de Gas del Sur (TGS) plans a $3 billion natural gas liquids project that includes new gas processing facilities and a pipeline linking the Tratayen plant to the Bahia Blanca export hub.
Repairs to Peru’s main natural gas pipeline could restore fuel supplies within days after a rupture triggered rationing, power disruptions and the country’s worst energy crisis in decades.
Peru is tapping fuel reserves after a major gas pipeline rupture slashed supplies and forced export suspensions, triggering the country’s worst energy crisis in two decades.
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