Latin America & Caribbean
Mexican President-elect Andres Manuel Lopez Obrador will seek to end the country's massive fuel imports, nearly all from the U.S., during the first three years of his term while also boosting refining at home.
An appeals court in Argentina has rejected an attempt to enforce a fraudulent Ecuadorian judgment against Chevron Corp., making Argentina the latest country where courts have dismissed the judgment found by U.S. courts to have been obtained through racketeering and corruption.
Oil and gas contracts awarded under the Mexican government's energy reform will be respected by the incoming administration provided no problems emerge in a revision of the process, the man designated to run the finance ministry said on July 4.
Attorney sees more partnerships with Pemex and fewer outright upstream contracts with the incoming administration, as well as a tightening of the permit process for the midstream.
The Maya oil discount has been broadening because of the continued sharp widening of the West Texas Sour differential due to bottlenecks in the Midland Basin.
Qatar Petroleum (QP) signed an agreement on June 3 with Exxon Mobil Corp. (NYSE: XOM) to acquire a 30% stake in two of ExxonMobil's affiliates in Argentina.
U.S. oil major ConocoPhillips (NYSE: COP) has seized products belonging to Venezuelan state oil company PDVSA from the Isla refinery it runs on Curacao, an island official told Reuters on May 13.
ConocoPhillips is trying to seize PDVSA’s oil assets at the 335,000 barrel-per-day (bbl/d) Isla refinery in Curacao, which would expand its control over the Venezuelan state-run company’s barrels for export, according to sources close to the matter.
An international arbitration court has ordered Venezuela's state-run oil company PDVSA to pay ConocoPhillips $2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC-member country, the U.S. firm said on April 25.
U.S. oil major Chevron Corp. has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state-owned oil company PDVSA, according to four sources familiar with the matter.