LatAmOil - Latin America Oil & Gas
ExxonMobil seeks rapid oil expansion in Guyana by 2030, targets Longtail
ExxonMobil is looking to ramp up its expansion plans for its Guyana operations, targeting a production capacity of 1.7mn barrels per day of oil by 2030.
Petrobras pushes for Brazil gas market commitment
Petrobras President Magda Chambriard has reaffirmed the state-owned company's efforts to increase Brazil’s gas supply, but she stressed that market demand is essential for advancing projects.
Trump's return could spell more trouble for Venezuelan oil
US president-elect Donald Trump's return to the White House is set to reshape Washington's approach to Venezuelan oil policy, as analysts debate whether his administration will revive the "maximum pressure" campaign that marked his first term.
Slim’s Grupo Carso tightens grip on Mexican oilfield with Talos deal
Talos Energy has solidified its position in Mexico’s energy sector by selling an additional 30.1% stake in Talos México to Zamajal, a company controlled predominantly by Grupo Carso, owned by Mexican billionaire Carlos Slim.
ALBA-TCP summit revives PetroCaribe energy cooperation
The XXIV Summit of the Bolivarian Alliance for the Peoples of Our America-People's Trade Treaty (ALBA-TCP) wrapped up in Caracas with significant agreements aimed at enhancing regional cooperation in energy, trade and agriculture.
Chevron, Shell, YPF and partners to build historic Argentine pipeline
Seven oil majors to construct a pipeline in Argentina's Vaca Muerta, signing an agreement to build a 600km oil pipeline. The $3bn private infrastructure project, known as Vaca Muerta Oil Sur, will transport over 550,000 barrels daily by 2027.
Shell subsidiary plans fresh exploration drilling off Suriname
Shell's subsidiary BG International Limited announced that it submitted plans to Suriname's National Environment Authority (NMA) for an exploration drilling program in Block 65.
Chevron, Shell, YPF and partners agree to build historic Argentine pipeline
Seven oil majors have united to construct a landmark pipeline in Argentina's Vaca Muerta, signing a historic agreement to build a 600km oil pipeline.
Perenco finalises acquisition of BP gas assets off Trinidad and Tobago
Perenco has finalised its acquisition of BP's offshore gas assets in Trinidad and Tobago, encompassing four mature fields and one undeveloped field.
Colombia's GeoPark CEO Ocampo signals commitment to Colombia with $530mn Repsol asset deal
GeoPark’s chief executive officer Andrés Ocampo reaffirmed the company’s long-term commitment to Colombia’s energy sector following its $530mn agreement to acquire assets from Spain’s Repsol
Colombia's Parex Resources expands partnership with Ecopetrol
Parex Resources has strengthened its strategic alliance with Colombia’s state-owned Ecopetrol, securing a 50% working interest in four blocks within the Putumayo Basin and the Farallones Block in the Llanos Foothills
Arrow Exploration achieves milestone with Alberta Llanos-1 well in Colombia
Arrow Exploration, a prominent operator focusing on high-growth hydrocarbon assets in Colombia, has confirmed reaching the target depth for its Alberta Llanos-1 (AB-1) well located on the Tapir Block in the Llanos Basin.
Brazil’s Petrobras joins NASA satellite monitoring project
Petrobras has been selected for the Early Adopters programme of NISAR, a joint satellite mission between the US’ NASA and the Indian Space Research Organisation, set to launch in 2025.
Brazilian oil firm Brava Energia in talks to sell Potiguar assets
Brava Energia has entered exclusive negotiations with Azevedo e Travassos (A&T) and Petro-Victory Energy for the potential sale of 11 oil and gas concessions in Rio Grande do Norte state.
Expro to develop flowmeter technology with Petrobras
Energy services firm Expro and Brazil’s national oil company Petrobras are to jointly develop new flowmeter technology for real-time well monitoring and production optimisation
Brazil’s Petrobras awards Constellation $528mn rig contract
Constellation Oil Services has secured a $528mn contract from Brazil’s national oil company Petrobras for the deployment of its Amaralina Star drillship offshore Brazil.
New Petrobras FPSO vessel departs China for Brazil's Mero field
The floating, production, storage, and offloading (FPSO) vessel Alexandre de Gusmão platform vessel has left China for Brazil's Mero oil field, the national oil company (NOC) Petrobras said.
Petrobras reaccepted for Dow Jones Sustainability Index
Petrobras will return to the Dow Jones Sustainability Index World (DJSI World) from February 2025, following improved performance in environmental and social metrics.
ALBA-TCP Summit revives PetroCaribe energy cooperation and launches AgroAlba initiative
Maduro announced plans for a renewed phase of the PetroCaribe energy cooperation initiative. This new stage will see joint ventures for the production and investment in oil, gas and their derivatives, particularly in Venezuela’s Orinoco Oil Belt.
Colombia energy groups seek urgent talks as 2025 subsidy funding at risk
Six energy industry associations in Colombia are urging urgent meetings with the ministers of Finance and Mines and Energy to address funding shortfalls for subsidies and tariff options, raising concerns over the sector's outlook for 2025.
Pluspetrol completes acquisition of ExxonMobil's Vaca Muerta assets in Argentina
Pluspetrol has completed its 100% acquisition of ExxonMobil Exploration Argentina SRL (EMEA), thereby reshaping the entire ownership landscape of Argentina's Vaca Muerta formation.
TotalEnergies renews Brazil offshore helicopter deal
TotalEnergies has extended its contract with Brazil's Omni Táxi Aéreo to support operations at the Lapa field in the Santos Basin for another five years, the companies confirmed.
Suriname finance minister lays out terms for oil royalty payouts
Suriname plans to leverage its future oil royalties to formalise its informal economy, Finance Minister Stanley Raghoebarsing announced, revealing that payments will be restricted to residents registered in the tax system.
YPF launches Real-Time Operations Center to optimise oil drilling operations in Argentina
YPF, Argentina's national oil company, has launched a Real-Time Operations Center in its Buenos Aires headquarters, aiming to optimise drilling and well completion operations in Vaca Muerta through data-driven decision-making.
ExxonMobil makes just one offshore discovery in Guyana in 2024
ExxonMobil Guyana added just one new discovery to its extensive Stabroek Block portfolio in 2024, with the Bluefin-1 well representing the company's sole exploration success for the year.
Pemex's credit rating affirmed at 'B+' with stable outlook
Fitch Ratings has maintained Petroleos Mexicanos' (Pemex) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'B+', with a stable outlook.
Colombia's Parex Resources strengthens alliance with Ecopetrol and announces operational updates
Parex Resources has expanded its collaboration with Colombia’s state-owned oil company Ecopetrol, securing agreements for a 50% working interest in four blocks within the Putumayo basin and the Farallones block.
Colombia seeks to speed up offshore gas production amid supply concerns
Colombia aims to accelerate gas production from its largest deepwater discovery as it prepares for a potential natural gas shortfall in the coming years.
Colombia warns of energy subsidy crisis after tax reform collapse
Colombia's Ministry of Mines and Energy has warned of potential disruption to gas and electricity subsidies following the failure of the Financing Law in Congress
Norway’s Kongsberg to deliver hybrid supply vessels for Petrobras offshore operations
Kongsberg Maritime will provide design and technology for six hybrid platform supply vessels to support Brazil’s national oil company (NOC) Petrobras offshore operations after signing a contract with Monaco-based Compagnie Maritime Monegasque (CMM)
Venezuela's gas shortage forces families to rely on firewood
The worsening shortage of domestic gas in Venezuela has pushed many families to rely on firewood for cooking, particularly in Táchira state. Local officials are urging the government to allow residents to purchase gas from neighbouring Colombia.
Offshore oil is "the new shale", says Kpler analyst
Offshore oil production “is the new shale,” set to drive future output gains, says Viktor Katona, head of oil analysis at global trade intelligence firm Kpler.
ExxonMobil seeks to safeguard right of first refusal for Guyana block in Hess Corp. sale to Chevron
ExxonMobil has reinforced its stance on preserving the right of first refusal in Hess Corp's Guyana oil assets, with top executives underlining the company's pivotal role in developing the country's offshore fields.
ExxonMobil Guyana targets Longtail field as its next offshore development
ExxonMobil Guyana has identified the Longtail field as its next development target following the Hammerhead project, according to company President Alistair Routledge.
ExxonMobil seeks rapid oil expansion in Guyana, raising 2030 output target
ExxonMobil is looking to ramp up its expansion plans for its Guyana operations, targeting a production capacity of 1.7mn barrels per day of oil by 2030.
Guyana expected to postpone next oil auction until November 2025 election
Guyana's anticipated second offshore oil block auction will likely be postponed until after the November 2025 general election, according to Vice President Bharrat Jagdeo.
Trinidad’s Atlantic LNG ships first two cargoes since completing restructuring
Trinidad and Tobago’s National Gas Co. (NGC) has exported the company’s first two LNG cargoes from Trains 2 and 3 of its Atlantic LNG terminal since the facility was restructured in December 2023.
CGX Energy and Guyana lock heads over Corentyne Block licence
A dispute has raged between Guyana's government and CGX Energy regarding the status of the company's Corentyne Block licence, with both sides maintaining opposing positions on the license's validity.
Venezuela’s oil output declines amid push for foreign investment
Venezuela’s crude oil production fell to an average of 960,000 barrels per day in November, marking a 2.9% decline from October’s 989,000 b/d, according to the latest report from the OPEC.
Petrobras orders 12 support vessels in $3.3bn fleet modernisation drive
Brazil's national oil company (NOC) Petrobras has awarded contracts worth BRL16.5bn ($3.3bn) to construct and charter 12 Platform Supply Vessels (PSVs), with BRL5.2bn reais allocated for domestic shipbuilding.
Petrobras taps SLB for subsea boosting in Búzios
SLB has announced that its OneSubsea joint venture has secured a contract from Petrobras to supply two subsea raw seawater injection (RWI) systems for the Búzios field.
Fitch raises Brazil's PRIO’s national scale rating to ‘AAA(bra)’
The upgrade reflects the addition of a 40% stake in the Peregrino field, which boosts PRIO's proven reserves by 18% and increases production capacity by 42%.
Petrobras pushes for gas market commitment
Petrobras President Magda Chambriard has reaffirmed the state-owned company's efforts to increase Brazil’s gas supply, but stressed that market demand is essential for advancing projects.
Brazil's Petrobras awards SLB OneSubsea contract for Búzios field enhancement
OneSubsea, a joint venture between SLB, Aker Solutions and Subsea7, has won a competitive tender from Brazil’s national company (NOC) Petrobras to supply two subsea raw seawater injection (RWI) systems for the deepwater Búzios field offshore Brazil.
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