The tax burden will be decreased by raising the cost caps that determine the amount of expenditure and investment in a field that can be deducted from the Mexican NOC's taxable revenue.
Venezuela's NOC is ramping up the refinery's storage capacity by 1.2Mb.
As oil prices recover, LNG prices are expected to remain flat, making gas-fired power generation relatively cheaper, which will incentivize the shift to that fuel in Latin America, according to Wood Mackenzie researcher Ricardo González.
The Canadian miner on Monday asked a US district court for an order to attach shares in Delaware-based PDV Holding, a subsidiary of the Venezuelan state oil company.
The Brazilian petrochemical firm also reported a Q2 profit of 1.1bn reais (US$348mn), up from 275mn reais a year earlier.
The supply tender will cover Codelco's seven mines across northern and central Chile.