South America

Project financing raised by JP Morgan will enable YPF and its partners Eni and ADNOC’s XRG to launch Phase 2 of Argentina LNG, boosting production to 18 mtpa by 2030-2031.

First oil is expected from phase one of the project in 2028, with up to four more phases planned.

The supermajor says it aims to start appraisal activities in 2027 and is evaluating development possibilities for the deepwater find offshore Brazil, which is the company’s largest discovery in 25 years.

The freely accessible online platform is the latest in a series of maps designed to reveal the continent’s untapped geothermal potential.

COP30 in Brazil represents a historic first, with the country being the first COP host to have a national CCUS law, an operating direct air capture plant, a project nearing CO₂ injection for pure geological storage, and more.

MODEC will supply the FPSO that will host up to 18 wells in the initial phase of development.

Deepwater Yellowtail project, onstream 4 months ahead of schedule, is expected to produce an average of 250,000 BOPD.

The author writes that Brazil can benefit by mirroring what proved decisive for CCS deployment in the US through a sovereign fiscal regime anchored by monetizing verified storage.

A Shell partnership with YPF marks a significant milestone for the Argentina LNG export facility, raising new questions about the nation’s potential to unlock the economic power of its vast shale reserves.

JPT’s first year of publication was one of groundbreaking events that would transform the global petroleum industry. A recap of developments in 1949 emphasizes the high hopes attached to the industry—and the ambitious goals of the new magazine.