SETBACK
Virus surge chokes fuel use in top U.S. buyers Mexico and Brazil

- Both nations are big markets for U.S. diesel and gasoline
- Countries reimposed lockdown measures amid slow vaccination
By Lucia Kassai/Bloomberg
HOUSTON
Petroleumworld 03 05 2021
Mexico Energy Outlook SENER's Forecast

Judicialization bad for the country in times of needed investments
- Presidential initiative approved by majority in Senate
- Companies and associations expected to object
By Sheky Espejo/Platts
MEXICO CITY
Petroleumworld 03 05 2021
Dept of State

Secretary of State Antony J. Blinken
- Representatives want Biden to make priority of ousting Maduro
- Special envoy post remains vacant as regime remains in power
By Nick Wadhams/Bloomberg
WASHINGTON
Petroleumworld 03 04 2021
CERAWeek-IHS Markit

Mexico to continue importing gas from US despite reserves
- Ecopetrol increasing gas participation to 35% of upstream portfolio by 2030
- Brazil concentrating on ultra-deepwater; laying ground for gas investments
By Sheky Espejo/Platts
MEXICO CITY
Petroleumworld 03 04 2021

CERAWeek-IHS Markit

"This can be the largest expansion of an energy matrix base on non-conventional renewables," -Ivan Duque,
President of Colombia
- Colombia aiming to become main investment target in Latin America
- Country to increase renewables contribution to 14% of generation
By Sheky Espejo/Platts
MEXICO CITY
Petroleumworld 03 03 2021
- Acceleration on $1.6 billion of notes foretells legal battle
- Some $60 billion of Venezuelan debt remains in default
By Nicolle Yapur and Maria Elena Vizcaino/Bloomberg
CARACAS/NEW YORK
Petroleumworld 03 03 2021

- The U.S. blacklisted Elemento and Swissoil for helping Maduro
- Shipments fell 13% in February, most of it going to China
By Lucia Kassai/Bloomberg
HOUSTON
Petroleumworld 03 02 2021
Elusive Profits
Ancap exits a lost decade marred by bad investments, pandemic.
- Uruguay seeks investors for first hydrogen pilot project
- Country may have hydrogen-export capability by end of decade
By Ken Parks/Bloomberg
MONTEVIDEO
Petroleumworld 03 02 2021
Pemex
- Fourth-quarter production rose to 1.68 million barrels a day
- State company will get about $5 billion in federal aid
By Amy Stillman/Bloomberg
RIO
Petroleumworld 03 01 2021
Ecopetrol CEO defends $4 billion the electric utility deal that unnerved investors
F. Carter Smith/Bloomberg

Felipe Bayon Pardo, chief executive officer of Ecopetrol SA, speaks during the 2019 CERAWeek by IHS
Markit conference in Houston, Texas, U.S., on Tuesday, March 12, 2019.
- Colombian oil company seeking majority stake in power firm ISA
- “I'm convinced this is a good business,” Felipe Bayon says
By Ezra Fieser and Oscar Medina/Bloomberg
BOGOTA
Petroleumworld 03 01 2021
AFP
Jair Bolsonaro y Joaquim Silva e Luna, en 2018.
- Silva e Luna, nominated by Bolsonaro, is ex-Defense Minister
- Investors dumped Petrobras assets on intervention concerns
By Peter Millard and Samy Adghirni/Bloomberg
RIO
Petroleumworld 02 26 2021
EIA

Ecopetrol and partner Oxy to drill 90 wells in 2021
- Also anticipates 2025 start to Brazil production
- Overall crude production slides 3.9% in 2020
By Chris Kraul/Platts
BOGOTA
Petroleumworld 02 26 2021