LatAmOil - Latin America Oil & Gas
Shell sells 20% stake in Brazil's Orca deepwater gas project to Kuwait Petroleum
Shell agreed to sell a 20% stake in Brazil's Orca deepwater gas project to Kuwait Foreign Petroleum Exploration Company (KUFPEC) for an undisclosed sum.
Guyanese crude output projected to rise 17.9% in 2026
Guyana's crude production is projected to surge 17.9% to average 840,000 barrels per day in 2026 as the country accelerates offshore development and expands its customer base beyond traditional Western markets.
Brazil oil output hits new peak
Brazil’s oil and gas production rose to 4.89mn barrels of oil equivalent per day in 2025, up 13.3% from a year earlier and the highest level on record, according to data from the National Agency of Petroleum, Natural Gas and Biofuels.
Guyana strengthens trade ties with US and Europe through crude oil exports
Guyana has strengthened its trade ties with the United States, Panama, and several European countries through its crude oil exports.
Guyana may be heading towards ‘resource curse’
Guyana’s transformation into a major oil producer has been so rapid that it has outpaced the country’s ability to absorb and distribute the wealth it is generating.
Regional gas cooperation advancing in Caribbean
Shell along with Trinidad and Tobago's state gas company are continuing to plan for a Venezuelan offshore project that officials say could begin flowing gas by late 2027.
GeoPark to buy rival Frontera’s Colombia assets, extend Vitol offtake
Bogotá-based GeoPark Ltd has agreed to acquire rival Frontera Energy Corp’s oil and gas exploration and production assets in Colombia for up to $400mn.
Venezuela, India pledge broader ties as oil sector opens to foreign buyers
Venezuela and India agreed to deepen their bilateral relationship across multiple sectors following a call between interim president Delcy Rodríguez and Indian Prime Minister Narendra Modi
Exxon sees reform as prerequisite for any Venezuela return, CEO says
Exxon Mobil Corp remains reluctant to re-enter Venezuela despite the country’s vast crude reserves, pointing to years of nationalisations, policy instability and economic deterioration
Chevron beats estimates as Venezuela bets offset fourth-quarter profit drop
Chevron Corp posted a decline in fourth-quarter earnings but exceeded analyst expectations as cost controls and efficiency gains helped cushion the impact of softer oil prices heading into 2025
Equinor to divest Vaca Muerta onshore assets in $1.1bn deal
Equinor has agreed to sell its onshore assets in Argentina’s Vaca Muerta shale basin to Vista Energy, as the Norwegian group sharpens its international portfolio and shifts its focus in the country towards offshore exploration.
Archer agrees to sell southern Argentina workover business, refocus on Vaca Muerta
Archer has entered into an agreement to sell its workover business in southern Argentina to a local buyer, a move that would see the company concentrate its operations on the unconventional Vaca Muerta shale.
Over 10 bidders line up for Argentina’s Neuquén–Río Negro LNG pipeline project
More than 10 companies are competing to build a gas pipeline linking Argentina’s Neuquén basin with the San Matías Gulf, a key piece of infrastructure for the country’s first liquefied natural gas export project.
First crude shipment in new pipeline from Argentina’s Neuquén Basin
Trafigura has completed its first crude oil export using Argentina’s newly commissioned Derivación pipeline, shipping a cargo from the Neuquén Basin to the United States and marking a milestone for the country’s oil export logistics.
India pivots to Venezuelan oil - Trump claims
Several times in recent months Indian officials have said there would be no succumbing to US sanctions on India’s preferred oil suppliers as all decisions would be made based upon India’s energy interests.
COMMENT: Trump’s Indian trade deal unlikely to cut Asia off from Russian oil
US President Donald Trump announced on social media that he was slashing tariffs on India from 50% to 18%, after cutting a new trade agreement that will see New Delhi reduce its imports of Russian crude oil dramatically.
India emerges as Guyanese oil buyer with South American country ramping up production
India imported approximately 297,000 barrels per day (bpd) of crude oil from Guyana in January, marking a re-entry of South American barrels into the country's supply mix as US sanctions on Russian oil force Asian refiners to secure alternatives.
Colombia eyes Venezuelan energy links as Ecopetrol, ISA weigh participation
Colombian state companies including Ecopetrol and ISA Conexiones could participate in Venezuelan gas and crude operations "sooner rather than later", the nation's energy minister, contingent on US sanctions relief
GeoPark buys Frontera’s Colombia assets in $375mn deal to expand regional footprint
GeoPark has agreed to acquire Frontera Energy’s Colombian exploration and production assets for an initial $375mn, with a further $25mn linked to development milestones, as the company seeks to strengthen its regional presence
Colombia's Ecopetrol secures gas import deal through Frontera Energy's Cartagena port
Colombia’s government said domestic companies could soon take part in transporting and producing natural gas and crude oil from Venezuela, as Bogotá explores options to strengthen regional energy links
Trump targets Cuba’s oil suppliers with tariff threats, raising pressure on Mexico
The United States is weighing new trade penalties against countries that supply oil to Cuba, after President Donald Trump signed an executive order threatening tariffs on their exports, intensifying pressure on Havana and its remaining energy partner
US seeks to force countries to buy Venezuelan oil, ex-Iranian MP says
A former Iranian lawmaker accused the United States of plotting to compel countries to buy “specific oil” after President Donald Trump claimed India intended to replace Iranian crude with Venezuelan oil.
Oil service firms seen as early winners in push to revive Venezuela’s energy sector
Global oil service providers are emerging as likely early beneficiaries of President Donald Trump’s drive to restart Venezuela’s battered oil industry, even as large producers tread carefully
Venezuelan crude shipments jump in January as US retakes control of exports
The increase followed the capture of President Nicolás Maduro and the lifting of a naval blockade, a shift that enabled trading houses to take over most overseas shipments
Argentina cuts export duties on conventional oil to support mature basins
Argentina has reduced export duties on conventional crude oil when international prices are at or below $65 per barrel, seeking to support mature oil basins struggling with high costs and declining output.
Argentina's energy SMEs warn of "unequal competition" as layoffs mount
Nearly a third of Argentina's energy sector small and medium-sized enterprises have reported layoffs as activity slumps and competition from Asian imports intensifies.
US broadens authorisation for Venezuelan oil sales under Washington control
The US Treasury Department has widened access for companies to participate in Venezuelan crude sales, moving beyond the two commodity traders initially selected for Washington-controlled exports from the sanctions-hit nation.
Venezuela ships inaugural LPG cargo as it opens energy sector
Venezuela has exported its first shipment of liquefied petroleum gas, a development the country's acting president described as a significant achievement in efforts to diversify the nation's energy sector beyond crude oil.
Argentina opens LNG imports to private firms, accelerates Enarsa privatisation
Argentina has authorised private companies to import and sell liquefied natural gas, removing the state from those operations as part of a broader push to privatise public energy company Enarsa and overhaul the country’s energy market,
Argentine provinces support government cut to export duties on conventional crude
Argentina has reduced export duties on crude oil produced from conventional fields under a new pricing-linked scheme, seeking to support mature oil production and prevent it from falling further behind shale output from the Vaca Muerta formation.
ExxonMobil, Chevron demand reforms before Venezuela investment despite Trump pressure
US oil majors ExxonMobil and Chevron have declined to commit to long-term investments in Venezuela despite President Donald Trump's push for $100bn in spending from US companies.
Brazil’s oil regulator orders shutdown of Refit refinery over safety concerns
Brazil's oil and gas regulator has ordered the complete shutdown of Refit, the former Manguinhos refinery in Rio de Janeiro, after a safety inspection identified risks of accidents and fires at the facilities.
Brazil’s Petrobras renews Indian refiner contracts worth over $3.0bn
Brazil's state-owned oil company Petrobras has renewed crude oil supply contracts with three of India's main state-owned refiners in agreements worth more than $3.1bn.
Brazil’s Petrobras launches tender for up to 518 km of flexible pipes
Brazil’s state-owned oil company Petrobras has launched a tender to acquire up to 518.3 kilometres of flexible pipes, equipment critical for offshore oil production.
Norway’s Seadrill secures $114mn contract extension for drillship in Brazil
Norwegian offshore drilling contractor Seadrill has secured a one-year contract extension worth $114mn for its West Saturn drillship working off Brazil's coast in Equinor’s operations.
US move to ease curbs may reopen Venezuelan oil supplies to India
A US signal indicating flexibility on Venezuelan oil trade could enable Indian refiners to resume purchases from the Latin American producer, with Reliance Industries expected to benefit the most
Brazil pressed on fossil fuel exit plan
Brazil should set dates to end oil auctions, restrict exploration in sensitive areas and revise incentives that support fossil fuels, according to proposals delivered to the government by the Climate Observatory.
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