The 3rd Latin America Energy Forum will address the needs of Latin America's evolving energy sector, exploring the evolution of the region’s energy mix and the role of gas in supporting the increased use of nonconventional renewables.
PLATTS - The US Energy Information Administration forecasts that Venezuelan oil production will fall below 1 million b/d in the second half of 2019, according to Erik Kreil, an international energy analysis team leader with the EIA.
BLOOMBERG - Home to the world’s biggest crude reserves, Venezuela exported 1.245 million barrels a day last year, the lowest since 1990, as production tumbles amid an economic and humanitarian crisis. Financial sanctions imposed by the U.S. have further tightened the screws on Venezuela’s ailing economy, while creditors have sought seize its assets including oil cargoes and its prized Citgo refineries in the U.S.
PLATTS - Brazilian state-led oil company Petrobras registered a 1.4% month-on-month slide in domestic crude oil output in November as ongoing maintenance work at offshore floating production units offset fresh flows from new wells.
IMF - Bolivia's real GDP growth is projected at 4.5 percent in 2018, one of the highest rates in the region. Growth is supported by continued accommodative policies, a second economy-wide wage bonus, and strong agriculture output.
PLATTS - Russia will invest $5 billion to raise Venezuela's oil production by 1 million b/d under a new economic agreement, Venezuelan President Nicolas Maduro said Thursday.
REUTERS - Angra 3 would be Brazil’s third nuclear plant. Earlier this year sources told Reuters that the project was struggling to find investors. Albuquerque said that up to 49 percent of the project was open to private investment.
REUTERS - Venezuela has signed deals securing investment from Russia in the South American country’s oil and gold sectors, President Nicolas Maduro said on Thursday at the end of a three-day trip to Moscow.
WNN - Russia and Argentina plan to expand their cooperation in the peaceful use of nuclear energy following the signing of a strategic document on the sidelines of the G20 summit in Buenos Aires.
IMF - IMF staff and the Argentine authorities have reached a staff-level agreement on the second review of the economic program supported by the Stand-By Arrangement. Completion of the review is subject to the approval of the IMF’s Executive Board and would make available SDR 5.5 billion (about US$7.6 billion).
PLATTS - Oil production averaged 2.614 million b/d in October, jumping 5.2% from 2.486 million b/d in September, Brazil's National Petroleum Agency, or ANP, said late Monday. October's output, however, was down 0.5% from 2.627 million b/d in October 2017, the ANP said.
PLATTS - Argentina's state-run energy company YPF and Malaysia's Petronas agreed Tuesday to invest $2.3 billion in a shale oil project in Vaca Muerta, with a target of reaching 60,000 b/d of oil equivalent by 2022.
МИНЭНЕРГО РОССИИ - “Электроэнергетика выполняет роль локомотива в российско-аргентинском энергетическом взаимодействии. Это обусловлено многолетним опытом совместной работы в сфере строительства и модернизации объектов электроэнергетики и наличием целого ряда проектов, реализованных на территории Аргентины при непосредственном содействии российской стороны”, - сказал глава Минэнерго России.
REUTERS - The country’s oil production has fallen to just 1.17 million barrels-per-day, a 37 percent drop in the last year, according to reports from secondary sources to OPEC, leaving itstruggling to ship Russian entities the roughly 380,000 bpd it has agreed to send, according to PDVSA
REUTERS - Preliminary data compiled by Venezuela’s central bank shows the economy shrank by 16.6 percent in 2017 compared with the year before, two sources familiar with the matter said on Thursday, the country’s sharpest decline on record.