LatAmOil - Latin America Oil & Gas
Ecopetrol approves government-led board overhaul at country's top oil company
Shareholders of Ecopetrol, Colombia's state-controlled oil company, approved on September 15 a sweeping board overhaul proposed by President Abelardo de la Espriella's government, installing six new directors
Pemex renames Cuba oil shipper twice as crude exports quietly stop
Mexican state oil company Pemex has renamed the company it uses to ship fuel to Cuba for the second time in under six months, while sharply scaling back exports to the island, an SEC filing shows.
Guyana's Gas-to-Energy project poised to transform local electricity supply
Guyana's Gas-to-Energy project is set to not only bolster the country’s electricity supply, but also provide a critical component of transmission infrastructure currently lacking in the South American country.
Milei plans tougher sanctions on firms operating in Falkland Islands
Argentine President Javier Milei is preparing legislation to tighten sanctions on companies operating in the Falkland Islands (also known as Malvinas), as his government expands legal and commercial pressure over Argentina’s sovereignty claim.
Mexico's Sheinbaum breaks with AMLO-era energy policy in new hydrocarbons plan
Mexico's government has unveiled a Hydrocarbons Sector Development Plan 2025-2039 marking a clear break from predecessor Andrés Manuel López Obrador's energy policy.
US broadens Venezuela energy push beyond oil
The US is looking to Venezuela for more than crude as it seeks to expand energy supplies in the Western Hemisphere and reduce dependence on the Middle East, with coal and the reconstruction of the country’s power grid also part of the strategy
US oil equipment heads to Venezuela as revival gains momentum
Venezuela’s expected oil revival is creating a new export market for US oilfield equipment, with drilling rigs, pumps and well-reconditioning machinery crossing the Caribbean as companies prepare for a potential $100bn rebuilding programme
US eases Venezuela oil transactions while keeping Citgo curbs
The Office of Foreign Assets Control issued General License 52C on September 14, replacing an earlier framework and permitting certain transactions involving Petróleos de Venezuela SA
Venezuela to join G20 energy talks as US seeks western hemisphere oil
Venezuela will send officials to this week’s G20 energy meetings in Houston, bringing Caracas into a gathering of major economies and oil producers as the US seeks to expand energy cooperation in the Western Hemisphere
US silence threatens to derail Spain’s Betancourt money-laundering case
Judge Santiago Pedraz has waited nearly a year for US authorities to act on a request to question five people convicted in America over a corruption scheme involving Venezuela’s state oil company, PDVSA
Nabep targets 500,000 bpd in Venezuela by 2028
North American Blue Energy Partners plans to sharply expand crude production in Venezuela, targeting 500,000 barrels per day (bpd) by the end of 2028 as the company seeks to build on rapid growth over the past two years
Brazil’s Petrobras receives $500mn from Brazilian government under diesel subsidy scheme
Brazilian state-owned oil company Petrobras (PETR4.SA, PBR.N) has received BRL2.6bn ($500mn) from the federal government under a diesel fuel sales subsidy programme.
Elevated global prices poised to push Guyana's oil earnings past $13bn by 2030
The International Monetary Fund's projection that Guyana's Natural Resource Fund could accumulate $13.3bn by 2030 may already be obsolete, with rising oil prices accelerating cost recovery from the Stabroek Block.
Touchstone targets Trinidad output with drilling and well optimisation
Touchstone is combining new drilling with targeted well interventions in Trinidad as it seeks to lift production. Improving Cascadura output and revised liquids pricing offer upside, while Carapal Ridge highlights persistent reservoir risks.
Argentina’s YPF nears LNG sales deals ahead of $24bn export project decision
Argentina’s state-run oil company YPF is close to signing several liquefied natural gas sales contracts for its proposed $24bn Argentina LNG export project, with two to three deals expected before the company makes a FID in November.
Chevron targets Argentina and Mediterranean for LNG growth as demand for secure supply rises
Chevron is seeking to expand its global liquefied natural gas portfolio, including through projects in Argentina and the eastern Mediterranean, as geopolitical disruptions increase demand from buyers seeking more diversified and secure gas supplies.
Indonesian oil company Pertamina explores upstream oil, gas equity stakes in Guyana, Suriname
Moving to insulate Indonesia's national energy grid from global supply disruptions, state-owned energy enterprise Pertamina is initiating exploratory discussions for upstream oil and gas investments in Guyana and Suriname
Venezuela’s oil revival sends US auction gear back into service
Venezuela’s push to revive its oil industry is creating a new market for used US equipment, as companies gather trucks, pumps, workover rigs and other machinery for shipment to the South American producer
Venezuela’s Rodriguez shuffles trade, energy officials
The government also appointed Radamés Gómez Azuaje as vice minister for hydrocarbon geopolitics, adding a new senior official to the team responsible for Venezuela’s energy strategy
Venezuela, Suriname sign deals to deepen trade and energy cooperation
Venezuela will provide expertise in oil and gas exploration and production, as well as technical training for Suriname’s energy industry
Fitch turns positive on Gran Tierra debt outlook as M&P deal advances
Fitch Ratings revised Gran Tierra Energy’s senior secured notes due 2029 and 2031 to Rating Watch Positive from Rating Watch Evolving, citing greater visibility over the company’s credit profile after its planned sale of its Colombia and Ecuador
Brazil’s Lula cuts gasoline taxes, creates diesel subsidy weeks before election
Brazilian President Luiz Inacio Lula da Silva signed a decree cutting gasoline taxes and a provisional measure creating a diesel subsidy, as the government moved to shield consumers from rising oil prices weeks before October's presidential election.
Brazil's regulator approves BP drilling campaign in Tupinambá pre-salt block
Brazil's environmental regulator Ibama has approved a drilling campaign of up to three wells by Bp in the Tupinambá exploration block, located in the pre-salt layer of the Santos Basin.
Argentina says Chile will deny logistical support to Falklands oil industry
Argentina said on September 10 that Chile will continue to support its claim to sovereignty over the Falkland Islands and will not provide logistical assistance for hydrocarbon extraction projects in the disputed territory.
YPF raises $1.2bn in international debt issue at lowest rate in company history
Argentine oil producer YPF has raised $1.2bn through a nine-year international bond issue at an effective interest rate of 7.85%, the lowest borrowing rate in the company’s history.
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