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Latin America - World

YPF asking creditors for short-term
relief as Argentina's dollars wither

Ronaldo Schemidt/AFP

View of a tank truck of Argentinian state-run energy company YPF.

- Shale driller stuns creditors, swap into new note
- But investors are balking at the terms energy firm proposed

By Scott Squires and Jonathan Gilbert/Bloomberg

BUENOS AIRES
Petroleumworld 01 20 2021

In the 99 years since it was founded to pump the oil fields of Patagonia, Argentine energy driller YPF SA has been whipsawed by countless booms and busts. If global oil markets weren't collapsing, it seemed, then Argentina was mired in a debt crisis that was wreaking havoc on the whole nation's finances.

US Treasury sanctions European oil for violating Venezuelan crude oil sanctions

US Treasury

Moves come on Trump's last full day in office

- Sanctions on traders, tankers and extend to those working with Mexican network
- Ban on Citgo share seizures extended until July

By Jordan Blum/Platts

HOUSTON
Petroleumworld 01 18 2021

The US Treasury sanctioned a series of European oil traders and crude tankers that allegedly helped a Mexican network work with Venezuela to evade US sanctions and move its crude oil to Asia and other parts of the world.

INSIDE OIL: Jan 20, 2021

EIA SHORT-TERM ENERGY OUTLOOK: January 12, 2021

PW Days View

Mac Margolis/Bloomberg: Latam's
China Strategy Needs an Overhaul

Sergio Lima/AFP

Brazil's dealmakers should think local, not bilateral.

Especially in Brazil, savvy local leaders have an opportunity
to turn Beijing's Belt and Road Initiative to their advantage.

PRICES
Petroleumworld.com

Updated: Jan. 20 2021 07:55 GMT (closing prices)

01/19
OPEC Basket
$54.85

+0.93

01/19

Mexico Basket (MME)

$51.67

+0.62

10/23
Venezuela Basket *

$27.93

Estimated

01/19
ICE Brent Mar. BNRH21
$55.90

+1.15

01/19

NYMEX WTI Feb. CLG21

$52.98

+0.62

01/19
NYMEX Natural Gas Feb. NGG21
$2.546

-0.191

01/19
NYMEX, gasoline Feb. RGB21

$1.5381

+0.0097

01/19 NYMEX Heating Oil Feb.HOG21
$1.5987

+0.0058

01/15 Active U.S. oil Drilling rigs **
287

+12

01/20
USD/MXN Mexican peso

19.6077

Live data

01/20

EUR/USD

1.2156

Live data

01/20
USD/Bs. (Bolivar) ***

1.555.320.55

BCV

* Venezuelan basket average price 2020-Reuters. The Venezuelan
oil basket has shown no goverment report since July 2020.
** Active U.S. drilling rigs end of the week report. *** Value date
Sources: Dow Jones, BCV, Real time prices by Bloomberg (live data).

TOP NEWS

Swiss financial center involve in $9 billions of suspicious venezuelan funds

SonntagsZeitung

Extract from the account at CBH in Geneva, over which Venezuelan TV tycoon Raul Gorrin had access.
In each case, after a large incoming payment, the millions were moved on in many directions.

- Money laundering of Venezuelan billions at around 30 Swiss banks
- Questionable funds from Venezuela flowed into several hundred accounts

By Christian Brönnimann, Sylvain Besson/SonntagsZeitung

ZURICH
Petroleumworld 01 19 2021

Ecuador refinery project president Moreno's legacy on its reform effort

karmaimpact.com

The Esmeraldas refinery project could be supported by the government's new $2.8bn framework agreement
with the US development bank DFC to refinance debt and support private sector investment.

By Patricia Garip/Argus

BOGOTA
Petroleumworld 01 19 2021

CITGO in limbo, Crystallex wins again in bid to seize shares

Erick Gay/AP

Citgo still in limbo as judge approves sale of Venezuelan holding company's shares.

- Trump has sought to delay seizure; could soon be up to Biden
- ConocoPhillips, other PDVSA creditors could be impacted

By Jordan Blum/Platts

HOUSTON
Petroleumworld 01 18 2021

Mexico is violating USMCA in energy, US warns

karmaimpact.com

U.S.-Mexico-Canada trade is been questioned by U.S. because of violations by Mexican government.

By Sergio Meana/Argus

MEXICO CITY
Petroleumworld 01 18 2021

Surinam announced a new "significant" oil and gas discovery offshore

Total, Apache make fourth oil, gas discovery off Suriname

- Block 58 adjoins Guyana prolific Stabroek Block
- Well's Neocomian-age target not tested before

By Robert Perkins/Platts

LONDON
Petroleumworld 01 15 2021

Colombia to start selling ESG green bonds this year to cash in on ESG boom

Joaquin Sarmiento/AFP

An electric taxi (C, green) drives along a street in Medellin, Colombia, on September 19, 2019.

- Peso-denominated notes will fund environmental projects
- Ministry will pursue debt buy backs, credit director says

By Ezra Fieser and Oscar Medina

BOGOTA
Petroleumworld 01 15 2021

One 40,000 mt jet fuel cargo from NW Europe bound to Brazil in a rare move

hub.wtm.com

Brazil's jet fuel demand bullish

- Brazil leads regional air travel recovery
- US exports to Brazil nearly halt in 2020

By Maha Cristina Husseini, Chris To, Emma Thomas /Platts

NEW YORK
Petroleumworld 01 14 2021

Vessel loaded crude in Venezuela claiming to be a Palau-flagged ship

Bloomberg

- Pacific island nation tells Venezuela ‘that oil tanker isn’t ours’
- Government of Palau sends diplomatic note to Venezuela

By Lucia Kassai/Bloomberg

HOUSTON
Petroleumworld 01 14 2021

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WORLD OIL
OUTLOOK 2045

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Five lesson
from mobbing
the US capitol

When a mob of President Donald Trump’s supporters storms the US Capitol and disrupts the confirmation of Joe Biden’s electoral victory, it’s time to take stock of uncomfortable realities.