LatAmOil - Latin America Oil & Gas
Brazil maps out $6.4bn natural gas, biomethane infrastructure expansion
Brazil's state energy research firm EPE has identified infrastructure projects for natural gas and biomethane development requiring BRL34.4bn ($6.44bn) in capital investment.
US and Trinidad strengthen energy controls to limit Maduro revenue
The United States and Trinidad and Tobago have reaffirmed coordinated measures to prevent Venezuelan natural gas projects from benefiting Nicolás Maduro’s regime
Venezuelan oil exports reach highest monthly level since 2020
Venezuela’s crude exports surged to 1.09mn barrels per day (bpd) in September, marking a 13 percent increase from August and the highest monthly volume since February 2020
Venezuela urges African countries to unite on “energy sovereignty”
Rodríguez framed the partnership as a strategic alignment, urging governments and investors to act “as a single force” to create a shared energy vision for the future
Venezuelan oil trade rife with irregular tanker activity
Nearly half of the tankers operating in Venezuelan waters last month were flagged for irregularities, according to a report by Transparencia Venezuela
Saipem completes Guyana's first subsea structure for ExxonMobil project
Italian energy services contractor Saipem has finished construction of Guyana's first locally-built subsea structure, destined for ExxonMobil's Uaru development.
Argentina approves decade-long extension for YPF pipeline concessions
Argentina's government has granted state oil firm YPF a ten-year extension to its hydrocarbon transportation concessions, commencing in November 2027, across six provinces including Neuquén, Mendoza, San Luis, Córdoba, Santa Fe and Buenos Aires.
Around 31% of upstream portfolio of Colombia's Ecopetrol vulnerable to energy transition, says study
Approximately 31% of Ecopetrol's upstream oil and gas investment portfolio—valued at nearly $6bn—remains vulnerable over the coming decade under moderate renewable energy transition scenarios.
Mexico's Pemex clinches $2bn deal but still faces worsening debt
Mexican businessman Carlos Slim, the Latin American country's richest man, has expanded his involvement in Mexico's hydrocarbons sector through a new drilling agreement with state-owned oil company Pemex.
As Washington-Caracas tensions rise, all eyes on Venezuela's oil
Venezuela’ Nicolás Maduro has accused Washington of using counternarcotics operations in the Caribbean as cover for regime change and control over his nation’s vast oil wealth, the Financial Times reported.
Slim doubles down on Mexico’s Pemex with $2bn drilling deal
Billionaire Carlos Slim's Grupo Carso signed a $1.99bn contract with Mexican state oil company Pemex to drill 32 wells at the Ixachi natural gas field in Veracruz over the next three years, Brazil Energy Insight reported.
Arrow Exploration reports Mateguafa Oeste-1 update in Colombia
Arrow Exploration will abandon its Mateguafa Oeste-1 exploration well in Colombia's Llanos Basin after encountering insufficient oil pay, marking the company's first unsuccessful drilling outcome across 40 wells since operations commenced.
Brazil's Braskem shares rebound on ownership approval despite triple credit downgrades
Norwegian offshore operator DOF Group lands Brazil, Argentine deals worth $390mn
Norwegian offshore services provider DOF Group has secured three new agreements plus a contract extension in South America from Brazil’s national oil company (NOC) Petrobras and France’s major TotalEnergies respectively.
TechnipFMC awarded subsea contract for ExxonMobil's seventh Guyanese development
Energy technology firm TechnipFMC has won a substantial subsea assignment supporting ExxonMobil Guyana's offshore Hammerhead oil project in the Stabroek block
PetroReconcavo acquires 50% stake in Brazilian gas midstream assets
PetroReconcavo has finalised the purchase of a 50% stake in natural gas midstream infrastructure in Rio Grande do Norte from Brava Energia’s subsidiary 3R Potiguar.
Brazil aims to quadruple sustainable fuels by 2035
Brazil plans to present a proposal to increase global production and use of sustainable fuels, including biofuels, biogases, synthetic fuels and hydrogen, by four times by 2035, the UN Cop 30 presidency said.
Vallourec secures Brazil’s Petrobras anti-scaling order
French tubular solutions provider Vallourec has secured an order from Petrobras for its Submagnético Free Flow oil country tubular goods (OCTG) system, designed to limit inorganic scaling in production strings.
Blue Water pitches $10bn offer for Citgo in Delaware court
Blue Water Venture Partners, a firm tied to Joseph Hernandez, has asked a Delaware federal court to allow consideration of its unsolicited $10bn proposal for Citgo Petroleum Corp’s assets
GeoPark's Vaca Muerta acquisition enhances profile but leaves rating unchanged, Fitch says
Fitch views GeoPark's $115m Vaca Muerta acquisition from Pluspetrol as positive, enhancing scale, diversification and reserves, though the B+ rating remains unchanged due to production constraints.
Mexican tycoon Carlos Slim invests $2bn in Veracruz oil field as Pemex drowns in debt
Mexican businessman Carlos Slim has expanded his involvement in the country’s hydrocarbons sector through a new drilling agreement with the state-owned oil company Petróleos Mexicanos (Pemex).
Mexico’s state oil giant Pemex hit by refinery setbacks and rising debt
Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) is under increasing strain as its flagship refinery, Dos Bocas, faces persistent operational setbacks, compounding wider financial and production difficulties.
Vista Energy's oil output surges in Argentina's Vaca Muerta
Vista Energy's oil production in Argentina's Vaca Muerta shale formation has surged to 125,000 barrels per day, up from 118,000 bpd in Q2 2025.
BP faces high costs at Brazil deepwater find
BP’s Boomerang oil discovery off Brazil has been touted as the company’s largest find in 25 years, but the supermajor faces technical and financial obstacles before it can translate the prospect into cash flow.
Brazil’s Petrobras edges closer to Amazon oil licence
Petrobras has submitted a revised pre-operational plan to Brazil’s environmental regulator Ibama to move closer to securing a licence for drilling in the Foz do Amazonas Basin, the company said.
US may be seeking to position oil majors for post-Maduro Venezuela
Energy analysts argue that the Trump administration’s goal is to maintain a US foothold in case of political change, enabling Western oil firms to help revive Venezuelan output and potentially rival Saudi Arabia by the 2030s
Bolivia probes state oil subsidiary Botrading over alleged corruption in fuel imports
Bolivia’s Public Prosecutor’s Office has stepped up its investigation into Botrading, a subsidiary of the state-owned oil company YPFB, amid allegations of corruption and overpricing with regard to fuel imports.
Argentina files two briefs with New York appeals court over YPF case
Argentina has filed two briefs with the New York Court of Appeals challenging a judge's decision to award YPF shares to litigation funds that successfully sued the country over the 2012 nationalisation of the state oil company.
Saipem EPCI contract approved for ExxonMobil Guyana's Hammerhead project
Italian offshore energy services firm Saipem has received authorisation to proceed with the engineering, procurement, construction and installation contract for ExxonMobil's Hammerhead oil field development, offshore Guyana
Guyana issues four production sharing agreements, driving offshore exploration
Guyana is set to issue four production sharing agreements in October as part of its first offshore licensing round, Natural Resources Minister Vickram Bharrat announced during an appearance on the Starting Point podcast.
Chevron to commence drilling at Suriname offshore block, marking entry into local oil sector
US energy major Chevron is set to commence drilling at Suriname's offshore Block 5 later in October, marking a significant expansion of operations in the emerging South American oil and gas frontier.
Saving USMCA greatest economic challenge of Mexico president's mandate
Pemex could cut debt to $78bn by 2027, says Moody's
Pemex's strategic plan for 2025 to 2030 contains conditions to reduce the oil company's debt to $78bn, but only if it assumes no additional debt in the future, Moody's corporate finance analyst Roxana Muñoz said, El Economista reported.
Brazil shuts Refit’s refinery in Rio, starts probe over laundering allegations, safety violations
Brazil's oil and gas regulator, ANP, has halted operations at Manguinhos Oil Refinery, operated by Refit, following investigations into suspected money laundering, commercial irregularities and security breaches.
SLB awarded completions deal for ultra-deepwater Brazil’s Petrobras project
SLB has landed a significant contract from Brazil’s national oil company (NOC) Petrobras to deliver technology and services for up to 35 ultra-deepwater wells in Brazil's Santos Basin.
Mexico's Pemex debt estimated at $80bn in third quarter
Mexico-bound FSO Chalchi enters construction phase
Mexico rolls out QR code, GPS rules for fuel trucks
Mexico's government issued new rules on September 24 for tank trucks transporting petrol, diesel and LPG as part of efforts to curb illicit fuel distribution, Argus Media reported.
Venezuela condemns Guyana’s UN statements amid Essequibo dispute
Chevron curbed by new US limits on Venezuelan oil exports
Maduro urges Venezuelans to cut imports and rely on domestic output
Colombia’s former Ecopetrol director questions presidential influence on nation’s oil giant
Colombia's state oil champion faces mounting governance concerns as former board member Juan José Echavarría criticised presidential overreach in corporate decision-making.
Brazil’s Petrobras clears hurdle for Amazon offshore drilling licence
Petrobras advanced towards obtaining a licence to drill in an environmentally sensitive offshore area of the Amazon basin after the country’s environmental agency, Ibama, approved its pre-operational emergency response tests.
TechnipFMC wins big subsea deal with Brazil’s Petrobras
TechnipFMC has won a contract valued between $75mn and $250mn with Brazilian oil company Petrobras for the supply of subsea production systems, the company said.
Exxon Mobil, Brazil’s Petrobras push back on Saipem7 deal
Exxon Mobil, Petrobras and TechnipFMC have asked Brazil’s antitrust authority Cade to review the planned merger of subsea contractors Subsea7 and Saipem, according to filings.
Venezuela’s oil standoff draws in US, China and Europe
US military patrols targeting suspected drug shipments off Venezuela’s coast have become the latest flashpoint in a conflict that extends far beyond narcotics.
Suriname seeks debt relief ahead of IMF-backed oil boom in 2028
Suriname’s government is in discussions with creditors and global lenders to push back debt payments, aiming to align obligations with the start of oil revenues expected later this decade
Guyana's Noble Tom Madden continues Uaru development drilling
Maersk, GTI partner to deliver training for Guyana workforce
Maersk Training is partnering with Global Technology Incorporated (GTI), an academic centre in Guyana, to strengthen local training and workforce development, OilNOW reported.
Borders & Southern Petroleum reports losses amid Falkland Islands oil exploration
Borders & Southern Petroleum reported narrowed operating losses and strengthened its financial position during the first half of 2025, as the company advances farm-out discussions for its Darwin oil discovery in the Falkland Islands.
TotalEnergies extends contract with DOF Group for Argentine offshore vessel
TotalEnergies has extended its partnership with Norwegian offshore vessel operator DOF Group, securing the Skandi Patagonia construction support vessel for continued operations in Argentina through a new three-year contract.
Mexico maintains fuel tax burden as SHCP extends stimulus freeze
Mexico's Finance Ministry (SHCP) will maintain the suspension of fiscal stimulus on petrol and diesel for another week, marking 24 consecutive weeks without this support, Mexico Business News reported.
US fracking pioneer Continental may invest in Argentina’s Vaca Muerta
Argentina's President Javier Milei met with Continental Resources executives on September 18 to explore investment opportunities in the Latin American country's hydrocarbon sector, particularly the Vaca Muerta shale formation
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