LatAmOil - Latin America Oil & Gas
Explosives attack halts Colombia’s Caño Limón–Coveñas oil flow
Caño Limón–Coveñas pipeline, one of Colombia’s most important crude oil transport systems, with a central role in the country’s energy infrastructure and export economy, was forced to cease crude pumping following an explosives attack.
Colombia's Ecopetrol signals profit decline ahead of August results
Colombia's state-controlled oil giant Ecopetrol warned shareholders of another quarterly profit decline ahead of its August 12 results announcement.
Trinidad cuts Venezuela ties, turns to Guyana and Suriname for gas
Trinidad and Tobago has definitively abandoned its agreement with Venezuela's PDVSA for natural gas imports from the Dragon and Cocuina-Manakin fields, shifting toward energy partnerships with Guyana, Grenada, and Suriname.
Blue Water Suriname secures contract to support Noble Corporation drilling operations
Blue Water Suriname has secured a comprehensive rig agency and logistics contract to support Noble Corporation's Noble Developer drilling rig operations for Petronas in Block 52 offshore Suriname.
Petronas to drill new well offshore Suriname
Petronas is set to drill Caiman-1 in Suriname's offshore Block 52, targeting the shallower section of the prolific "Golden Lane" in a move that could significantly expand exploration opportunities in the Guyana-Suriname Basin.
Chevron granted limited licence to operate in Venezuela
Venezuela’s state oil company PDVSA is preparing to relaunch operations with its joint venture partners under conditions reminiscent of the Biden-era oil-for-debt swap model, once President Donald Trump restores key operating authorisations.
Venezuela backs regional gas integration plan, revives work on Venezuela-Colombia gas pipeline
Venezuela has called for the creation of a joint action plan for regional gas integration, framing natural gas as a transitional fuel vital to reducing emissions in Latin America and the Caribbean.
Argentina’s YPF nears offshore exploration deal with ENI in Uruguay
The agreement, expected to be finalised in the coming days, would expand a strategic partnership that began this year with joint work on liquefied natural gas
Venezuela oil return weighs on prices amid demand concerns and supply growth
Oil prices declined to a three-week low, dragged down in part by expectations that Venezuela may soon boost exports following reports the US will allow Chevron to resume limited operations in the country
Foreign oil firms await US approval to resume Venezuela operations
Several foreign energy companies are still waiting for clearance from the US Treasury and State departments to resume operations in Venezuela, following discussions last week regarding the reissuance of key licences
Chevron’s Venezuela comeback seen as boost to dollar liquidity and private sector access
Venezuela’s main business chamber, Consecomercio, has endorsed Chevron’s renewed presence in the country’s oil industry, following the US company’s receipt of a new licence to operate
Chevron secures narrow US licence to restart Venezuela operations
The new authorisation, issued privately, prohibits any oil-related revenue from reaching President Nicolás Maduro’s regime, effectively blocking royalties and tax transfers
BP hits oil signs in Brazil’s Santos Basin
British Petroleum (BP) has encountered signs of hydrocarbons in the Bumerangue block’s 1-BP-13-SPS wildcat well, located in Brazil’s Santos Basin pre-salt area.
COMMENT: Trump’s new Venezuela oil waiver raises more questions than answers
The Trump administration quietly granted Chevron a new oil licence in Venezuela, just after a major prisoner swap. But the deal may enrich regime insiders and boost China’s oil access, raising questions about the coherence of US sanctions policy.
Brazil’s Petrobras ramps output as pre-salt surges
Brazil’s Petrobras reported an average production of 2.91mn barrels of oil equivalent per day in the second quarter of 2025, up 5% from the previous quarter, driven by new platforms entering operation and ramp-ups across key offshore fields.
Venezuela's PDVSA eyes return to swap-based oil exports
Venezuela’s state oil company PDVSA is preparing to relaunch operations with its joint venture partners under conditions reminiscent of the Biden-era oil-for-debt swap model, once President Donald Trump restores key operating authorisations
Mexico's Pemex posts rare quarterly profit, burns through bailout funds
Mexican state oil giant Pemex reported a net profit of $3.17bn for the second quarter of 2025, marking its first quarterly profit in over a year primarily due to the peso strengthening.
Weatherford wins major drilling services deal for Mexico's landmark Trion field
American oilfield services provider Weatherford has secured a substantial multi-year agreement to deliver Managed Pressure Drilling capabilities for Mexico's Trion deepwater oil development, operated by Woodside's local unit
Mexico bolsters fuel adulteration defences with new regulations
Mexico is intensifying efforts to combat fuel adulteration through new Agency for Safety, Energy and Environment regulations whilst confronting increasingly sophisticated illicit fuel manipulation methods that impact vehicle performance
Mexico's Pemex posts rare quarterly profit aided by peso recovery
Mexican state oil giant Pemex reported a net profit of MXN59.52bn ($3.17bn) for the second quarter of 2025, marking its first quarterly profit in over a year primarily due to peso strengthening against the dollar, Reuters and Oilprice reported
Carso Energy, China and BP compete for Mexico’s Pemex: 28 companies interested in mixed contracts
Mexico's state oil company Pemex has identified 28 enterprises interested in participating in 11 mixed development projects following a market survey, Exploration and Production Director Ángel Cid announced, El Financiero reported.
Ecuador's oil industry in recovery following pipeline shutdown
Ecuador's oil industry is slowly recovering from a devastating pipeline crisis that crippled production for over three weeks, following the resumption of operations at both major crude transport systems.
Argentine oil and gas union ratifies 48-hour strike
The Private Oil and Gas Union of Río Negro, Neuquén, and La Pampa has confirmed a 48-hour strike running from 8:00 PM local time on July 30th to 8:00 PM on August 1st in Argentina, following failed negotiations with energy companies.
Peru enters deal to buy crude oil from Ecuador
Peru and Ecuador have signed a landmark cooperation agreement that will see the two Andean neighbours exchange crude oil and refined petroleum products without intermediaries, Peruvian President Dina Boluarte announced.
Guyana posts strong trade surplus driven by oil exports
Guyana recorded a trade surplus of $3.01bn in Q1 2025, supported by robust crude oil exports that continue to anchor the country's economic transformation, according to Bank of Guyana data.
Puerto Rico ends talks with New Fortress over $20 billion supply deal
Puerto Rico is quitting discussions with New Fortress Energy to renew a 15-year LNG supply deal estimated to be worth $20 billion.
Venezuela democracy in tatters one year after rigged poll as Trump policies aid Maduro
Venezuela's democracy collapsed after Nicolás Maduro's disputed July 2024 election victory, despite clear evidence of fraud. A year later, systematic repression has crushed the opposition, while Trump's policies seem to help Maduro's survival.
Guyana optimises oil transportation ahead of critical election
Guyana's President Irfaan Ali has unveiled an ambitious modernisation agenda for the country's maritime sector, targeting long-standing inefficiencies as the nation's oil-driven economy continues its rapid expansion.
US Gulf Coast refiners pivot to international suppliers as local crude sources dwindle
American Gulf Coast refineries are securing elevated volumes of Middle Eastern and South American crude to replace diminishing Venezuelan and Mexican barrels, with ship tracking data revealing a significant supply chain reorganisation
Chevron unlocks major opportunities in Guyana following Hess acquisition
Chevron has successfully completed its $55bn acquisition of Hess Corporation, securing a 30% stake in Guyana's prolific Stabroek Block following the resolution of arbitration proceedings that had delayed the merger since its 2023 announcement.
Colombia accelerates LNG import strategy
Colombia's government has accelerated development of liquefied natural gas import capacity to forestall a looming supply deficit by 2027.
Brazil's petrochemicals sector confronts extended slump as Braskem faces structural hurdles, says Moody's
Moody's Carolina Chimenti cautioned that Braskem's outlook appears especially difficult as the nation's biggest petrochemicals manufacturer encounters margin pressure and restricted cash flow generation.
Mexico’s Pemex fracking wells face water safety violations
Mexico's state oil company Pemex confronts significant water safety and regulatory compliance issues at two hydraulic fracturing wells in Nuevo León, according to a Commission for Environmental Cooperation factual record released
ExxonMobil Guyana boosts oil output capacity by 130,000 barrels per day
ExxonMobil has boosted its production level by 130,000 barrels per day increase in oil production capacity across its first three Guyana offshore projects through optimisation activities.
Guyana to overhaul maritime infrastructure to boost oil and gas transport
Guyana is advancing plans for a maritime infrastructure overhaul, with President Dr. Irfaan Ali confirming that a feasibility study for the Berbice Deepwater Port is underway in partnership with engineering firm Bechtel and Hess Corporation.
Jamaica awards United Oil & Gas five-year environmental permit for offshore operations
Jamaica's National Environment and Planning Agency has granted United Oil & Gas a five-year environmental permit to conduct offshore surveys at its Walton Morant licence.
Venezuela calls for regional energy sovereignty as it revives cross-border projects
Venezuela urged CELAC member states to reinforce their energy autonomy and push back against external interference during the regional bloc’s ministerial summit in Colombia
Venezuela backs regional gas integration plan to tackle energy poverty
Venezuela has called for the creation of a joint action plan for regional gas integration, framing natural gas as a transitional fuel vital to reducing emissions in Latin America and the Caribbean
Venezuela and Mozambique explore energy cooperation and party ties
The talks took place on the sidelines of the OPEC International Seminar, which convenes key global energy players.
Maduro confirms Chevron licence as he seeks to attract US energy investment
Nicolás Maduro has confirmed that Chevron received authorisation to continue operating in Venezuela, following a recent prisoner swap agreement
Brazil tightens oil royalties rules
Brazil’s oil regulator ANP has approved revised criteria for determining the reference price of domestically produced oil, a move expected to raise government royalty revenue, the agency said.
Colombian oil shipments decline as traditional buyers retreat
Colombian crude exports faced diminished demand during May as key purchasers including the United States and China reduced their intake, according to industry data released by Campetrol.
Colombian congress again attempts to outlaw fracking
Colombia's Environment Minister Lena Estrada presented legislation on July 22 seeking to permanently prohibit hydraulic fracturing across the nation, marking the sixth congressional attempt in a decade to ban unconventional oil and gas extraction.
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