LatAm NRG Heard: US Sanctions PDVSA Head, Milei’s Popularity, BP Shuts Azerbaijan Platform

(Editors at Energy Analytics Institute, 10.Jan.2025) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week ended 10 Jan. 2025.

—Argentina: Vaca Muerta oil and gas production continues to rise spurring hopes of continued oil and gas exports and soon year round LNG exports

—Argentina: Argentina’s president Javier Milei remains highly popular 1yr into his mandate as investors promise big investments, inflation is declining and the Argentine peso continues to appreciate.

—Chile: Chileans have until 13 Jan. 2025 to appeal the result of the electric subsidy.

—Ecuador: Toachi Pilatón in Ecuador is expected to soon reach its 254.4MW potential. 

—Mexico: In Mexico, mini vehicles are the category w/ the highest potential volume in the electric mobility segment.

—Mexico: Officials from Mexico’s federal gov’t held talks with/ Sonora governor Alfonso Durazo Montano regarding potential locations to assemble the planned Olinia EV.

—Mexico: Mexico sent a team of firefighters to Los Angeles to assist in efforts to stop raging fires in the US city.

—Venezuela: Venezuelan opposition leader Edmundo González Urrutia did not return to Venezuela on 10 Jan. 2025 for the presidential inauguration as earlier planned amid an uptick in detentions in Venezuela and threats against his person and others (many former LatAm presidents) planning to return to Venezuela w/ him.

—Venezuela: Nicolás Maduro’s presidential inauguration has again divided officials across LatAm w/ Colombia and Mexico sending representatives in lieu of sending their respective presidents to Venezuela.

—Venezuela: US’ OFAC imposed sanctions on the president of Petróleos de Venezuela (PDVSA).

—Venezuela: Chevron Venezuela eyes uncertain future as Nicolás Maduro’s presidential elections rings in another 6yr term for him and increases risk of harsher sanctions on the oil sector.

—Venezuela: Venezuela’s energy ministry is pondering the use of AI to increase production efficiencies.

RELATED: Treasury Sanctions Venezuelan Officials Supporting Nicolas Maduro’s Repression and Illegitimate Claim to Power

ET AL

—USA: US increasing pressure on Russia w/ energy sector sanctions.

—ASIA: India refiners said bracing for US sanctions on Russian oil.

—UK: BP shutters gas platform in Azerbaijan, disrupting gas exports to Europe.

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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.