Latin America Headlines

Argentina: Gas Wellhead Prices to Grow as Fernandez Removes Controls

Argentine President Cristina Fernandez has announced plans to remove price controls on natural gas, in a move her administration expects to treble average wellhead prices. Speaking at the inauguration of a diesel refinery in Ensenada, Buenos Aires, Fernandez said the price per cubic meter of gas will rise from around 3 cents to 13 cents, ending 10 years of price controls.


Venezuela: Chavez Optimistic on Repsol-YPF

Venezuela has received a “positive” response to its efforts at brokering a settlement between Repsol and the Argentinean Government, according to Hugo Chavez. Speaking on state television, the Venezuelan President said that he had received a letter from Repsol Chairman Antonio Brufau yesterday that contained a “good signal.”


Mexico: Pemex Gets Hidalgo Prep Underway

The first stages of site preparation for the new Pemex refinery in Hidalgo state have gotten underway, according to the head of the project, Arturo Arregui Garcia. The refinery will be the largest in the country when it begins operating, is designed to meet the growing demand for fuel from the Mexican people, said Arregui. It will process 250,000 bpd of oil, with an additional 76,000 bpd processed from the existing complex. 

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