Latin America's Energy Industry Developments: Chile's Hydrogen Regulation, Brazil's Fuel Law, Petrobras's Drilling License Confidence, Energy Connectivity in Mexico, LNG Terminal Approval in Brazil, Paraguay's Energy Roadmap, Peru's Renewable Energy Proposal, and Mexico's Private Oil Sector Concerns
Key Ideas
  • Chile advances in the hydrogen industry with an updated regulatory working plan to boost the sector as part of its 2023-30 green hydrogen action plan.
  • Brazil's approval of the sustainable fuel bill aims to stimulate biofuel demand and provide legal security for investors, supporting green diesel, biokerosene, and carbon dioxide storage.
  • Petrobras expresses confidence in obtaining the drilling license for the Foz do Amazonas basin, emphasizing the importance of new discoveries amid peak oil production concerns.
  • Mexico emphasizes the need for increased energy connectivity with the US for nearshoring success, while Brazil approves the connection of an LNG terminal to the pipeline grid for wider fuel distribution.
Chile has introduced an updated regulatory working plan to advance the hydrogen industry in line with its 2023-30 green hydrogen action plan. In Brazil, the approval of the sustainable fuel bill is set to boost biofuel demand and offer legal security to investors by promoting green diesel, biokerosene, and carbon dioxide storage. Petrobras is optimistic about acquiring the drilling license for the environmentally sensitive Foz do Amazonas basin to address concerns about peak oil production. Meanwhile, Mexico highlights the importance of enhancing energy connectivity with the US for nearshoring opportunities. In Brazil, the authorization of Eneva's LNG terminal connection to the pipeline grid is expected to facilitate fuel distribution across the country. Paraguay has endorsed a new energy policy focusing on national energy sources and regional integration. Peru faces increased debate over a proposal to boost renewable energy participation, while Mexico's private oil companies seek legal certainty and partnerships amidst regulatory changes in the energy sector.
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