LatAmOil - Latin America Oil & Gas
US power firm launches world bank arbitration against Colombia over gas market dispute
US-based Glenfarne Group has initiated international arbitration proceedings against Colombia over a dispute linked to the country's natural gas market, claiming state actions undermined investments in two thermal power plants
Colombia restarts power exports to Ecuador after diplomatic rift eases
Colombia will resume electricity exports to Ecuador after suspending sales earlier this year amid a diplomatic dispute, easing concerns over power supplies as both countries prepare for a potentially severe El Niño weather event
Latam state oil companies face policy risks despite higher crude prices, Moody’s says
Higher global oil prices are unlikely to translate into stronger credit profiles or proportionally larger financial gains for several of Latin America's state-backed oil companies, Moody's says.
Argentina streamlines oil export rules amid record crude shipments
Argentina has introduced a new regulatory framework to simplify crude oil and refined product exports, as the country experiences a surge in overseas energy sales driven by rising production from the Vaca Muerta shale formation.
Pacific Coast Energy nears deal to develop Venezuela oil fields with PDVSA
Pacific Coast Energy Co. is nearing an agreement with Venezuela's state oil company to take part in developing crude fields in the country's east, as Caracas moves to accelerate deals with foreign investors to revive production
Mexico to explore deeper layers of Cantarell oil field with Petrobras technology
Mexican President Claudia Sheinbaum said Mexico will explore deepwater layers beneath the depleted Cantarell oil field in a partnership with Brazil’s state-controlled Petrobras, following the June 23 memorandum.
Moody's says Colombia fuel subsidies curb Ecopetrol gains from higher oil prices
Colombia's fuel price subsidies are limiting the financial benefit that state-controlled Ecopetrol receives from higher crude prices, although the company remains a net beneficiary of stronger international oil markets, according to Moody's Ratings
Bolivia rules out YPFB privatisation, plans overhaul of state energy firm
Bolivia's government has ruled out privatising state oil company YPFB, saying it will remain under state control given its strategic status, even as officials acknowledge the firm faces significant financial and supply problems.
Guyana’s oil expansion nears one million barrels per day, reshaping regional energy dynamics
Guyana’s oil boom is approaching a new milestone as Uaru prepares to push national production beyond one million barrels per day.
Peru seeks to lock in long-term energy planning as incoming government faces regulatory test
Peru is moving to institutionalise 30-year energy planning just before the presidential transition, but investors remain focused on delayed electricity market regulations that will determine the pace of renewable deployment.
Brazil bets on ports for oil boom
Brazil is accelerating investment in port infrastructure to support rising pre-salt oil production and expand export capacity, as the country seeks to strengthen its position among the world's leading crude exporters over the coming decade.
Karoon Energy restores all wells at Brazil's Baúna oil field
Energy has brought all production wells at its Baúna oil field, off the coast of Brazil, back online after restarting the PRA-2 well, the ASX-listed oil and gas company said.
Argentina's Pampa Energía approves FID for $2.7bn fertiliser plant
Pampa Energía has approved the final investment decision for a $2.7bn fertiliser project in Argentina that will produce granular urea using natural gas from the Vaca Muerta shale formation.
Argentina's YPF to implement 10-for-1 stock split in August
Argentina’s state-controlled energy company YPF will implement a 10-for-1 stock split on August 4, lowering the unit price of its locally traded shares in a move aimed at making the stock more accessible to retail investors.
Argentina's Vista, YPF weigh RIGI bid for Vaca Muerta block as shale expansion accelerates
Vista Energy and state-controlled YPF are evaluating an application for benefits under Argentina’s Large Investment Incentive Regime (RIGI) for the jointly held Bajo del Toro block in the Vaca Muerta shale formation.
Pampa Energía secures RIGI approval for $4.5bn Vaca Muerta oil project
Pampa Energía has secured approval under Argentina’s Large Investment Incentive Regime (RIGI) for a $4.5bn oil development in the Vaca Muerta shale formation, allowing the company to move forward.
Suriname's landmark GranMorgu oil project to implement kite traction towing for FPSO
The partners in Suriname’s landmark GranMorgu oil development , have partnered with French company Beyond the Sea to pilot wind-assisted kite traction technology on the project’s FPSO vessel.
Sintana advances Argentina offshore bid as Chevron gets more time in Uruguay
Sintana Energy is moving ahead with offshore exploration plans in Argentina while gaining additional time for work on a Chevron-operated block in Uruguay, as the Canadian company seeks to expand its position in South America's emerging oil and gas
Lionheart targets Venezuela oil revival with $400mn investment plan
Lionheart Capital is positioning itself to become an early private investor in Venezuela's oil sector, pursuing a transaction valued at about $400mn that would give the Miami-based firm exposure to one of the country's mature producing assets
Colombia nears 4.7GW renewable target as solar drives energy expansion
Colombia has installed or commissioned 4.58GW of photovoltaic capacity since August 2022, with roughly one-quarter still undergoing testing, leaving the government's flagship 6GW+ renewable energy programme about 1.35GW short of its target
Colombia's Ecopetrol resumes Brazil tender offer for 25% stake in Brava Energia
Ecopetrol has resumed its voluntary tender offer to acquire a 25% stake in Brazilian independent oil and gas producer Brava Energia after updating the offer documents requested by Brazil's securities regulator
Colombia's incoming government seeks US energy investment, backs gas exploration revival
Colombia's incoming administration has begun discussions with US officials to attract investment into the country's energy sector, focusing on energy security, responsible transition policies and the revival of gas exploration
Suriname's energy sector to grow beyond GranMorgu, Rystad Energy projects
Suriname is transitioning from a single-project offshore economy to a multi-hub growth market, according to Rystad Energy.
Shell's Loran gas field project could propel Venezuela's and Trinidad's gas sector growth
Shell's entry into Venezuela's Loran gas field could transform Trinidad and Tobago's energy sector, Rystad Energy claimed in a report.
Latin America well placed to supply global aviation fuel market, industry specialists say
Latin America has abundant carbon feedstocks and renewable energy resources that position the region to become a significant supplier in the global sustainable aviation fuel (SAF) market, according to sustainable fuels specialists.
Suriname’s GranMorgu project tests wind propulsion in offshore logistics push
Suriname’s GranMorgu FPSO will test wind-assisted kite towing in a first-of-its-kind offshore trial, as TotalEnergies, SBM Offshore and Beyond the Sea explore lower-emission logistics for long-distance offshore transport.
Suriname’s offshore ambitions move beyond GranMorgu as new discoveries reshape investment outlook
Suriname’s offshore sector is entering a new phase as discoveries, licensing rounds and major projects point towards a potential multi-hub oil and gas province beyond GranMorgu.
Panama moves to full state ownership of Petroterminal in strategic infrastructure push
Panama is moving to acquire full ownership of Petroterminal de Panamá, consolidating state control over critical energy infrastructure through a contractual purchase mechanism rather than expropriation.
Alaska wildcatter sets sights on Venezuela in new frontier oil bet
The Texan wildcatter behind Alaska’s Pikka oil discovery is preparing to explore for crude in Venezuela after agreeing a draft deal with authorities
Venezuela targets 1.4mn barrels a day of oil output by year-end
Venezuela expects crude production to approach 1.4mn barrels per day by the end of 2026, Acting President Delcy Rodríguez said, outlining an expansion plan as the government seeks to generate additional revenue for the country's reconstruction
Mexican crude shipment reaches Japan for the first time since Iran war began
Japan’s Ministry of Economy, Trade and Industry said a tanker carrying 1mn barrels of Mexican Isthmus crude arrived in Japan on July 17, dropping off oil at Japan’s Yokkaichi and Chiba refineries in Mie and Chiba prefectures respectively.
Mexico regulator clears Paratus Energy's $400mn divestment of Fontis rig fleet to Borr Drilling JV
Bermuda-based Paratus Energy Services announced it has received approval from Mexico's competition regulator to proceed with the divestment of drilling operations and jack-up rigs belonging to Fontis Finance, an indirect subsidiary.
Pemex scraps four major offshore oil contracts in Mexico
Petróleos Mexicanos (Pemex), Mexico's state oil company, has cancelled four mixed contracts related to some of the country’s most closely watched offshore prospects, invoking force majeure after failing to resolve investor concerns.
Carlos Slim's Grupo Carso to buy out TotalEnergies stake in Gulf of Mexico oil field
A securities filing published on July 16 shows Grupo Carso SAB, the conglomerate controlled by Carlos Slim, Mexican billionaire and Latin America’s richest man, has agreed to acquire a stake in an offshore field in the Gulf of Mexico.
Colombia's Ecopetrol says cyberattack hits 15 group companies, 3,300 accounts
Colombia's state oil company Ecopetrol confirmed that an unidentified external threat actor had gained unauthorised access to its cloud storage environments, extracting data linked to approximately 3,300 user accounts across roughly 15 companies
Argentina's Vaca Muerta crude expands into Asian markets as US demand declines
Crude oil produced at Argentina's Vaca Muerta shale formation is reaching new markets in China and Southeast Asia as exports diversify away from the United States.
Phoenix Global Resources sets fastest drilling record in Argentina's Vaca Muerta
Phoenix Global Resources has completed the fastest well in its history at Argentina's Vaca Muerta shale formation, reducing drilling time by 13% compared with its previous company record while finishing the project 15% below its planned budget.
Río Negro regains Cerro Manrique oil and gas block after YPF exploration permit expires
Argentina's Río Negro province has formally regained control of the Cerro Manrique oil and gas block after YPF completed its exploration programme and returned the concession following the expiration of its exploration permit.
Venezuela sees 17% oil production growth by 2028, with execution key
Venezuela's oil industry is entering a new stage of its recovery, with attention turning from regulatory change and market access to the more difficult task of delivering sustained increases in production
India’s Venezuelan oil imports hold firm as refining capacity expands
Indian ports received 10.1mn barrels of Venezuelan crude in June, nearly unchanged from May's 10.2mn barrels and well above April's 8.3mn and March's 900,000 barrels. Another 7.7mn barrels are scheduled to arrive in July
Argentina launches offshore exploration tender off Atlantic coast
Argentina's government has launched an international tender process for offshore oil and gas exploration in the Argentine Sea off the coast of Buenos Aires Province after a Canadian energy company expressed interest in the block.
OPEC reflects on its superpower era
War‑time disruption, sanctions and the UAE’s exit have exposed the limits of OPEC’s market power, leaving the cartel more constrained, more reactive and less central to price formation
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