LatAmOil - Latin America Oil & Gas

25 April 2025

Argentine governors seek Vaca Muerta oil and gas investments in the US

24 April 2025

Following the partial lifting of Argentina's currency controls, four provincial governors are travelling to the United States in search of fresh investments in oil and gas development at the massive Vaca Muerta shale formation.

Stake in Argentina’s Vaca Muerta field changes hands as regional governors seek fresh investments

24 April 2025

Malaysia-based Petronas has sold its 50% stake in Argentina's high-output La Amarga Chica oil field to Vista Energy for around $1.5bn.

Colombia's oil freeze sparks market concern, ex-president Duque warns of fiscal fallout

24 April 2025

Colombia’s suspension of new oil and gas exploration agreements has come under fire from former president Iván Duque Márquez, who warned the strategy could erode energy sovereignty and economic stability.

Tariff tensions may boost Venezuelan oil’s appeal in Asia, economist says

24 April 2025

A Venezuelan economist says that Washington’s latest wave of tariffs on Chinese goods—announced on April 15 and reaching up to 145%—could reduce Beijing’s hesitancy around sourcing oil from Venezuela

Venezuela is facing renewed economic turmoil as sanctions and oil-related challenges intensify

24 April 2025

Washington’s decision to revoke licences that had allowed foreign oil companies, including Chevron, Shell and BP, to operate in Venezuela has been a severe blow .

Chevron diverts tankers as PDVSA blocks Venezuela crude amid sanctions uncertainty

24 April 2025

Chevron is redirecting several tankers originally intended to transport Venezuelan crude to the United States after state oil company Petróleos de Venezuela, S.A. (PDVSA) abruptly revoked loading authorisations

Mexico's Alpek plans Brazil natural gas expansion

24 April 2025

Mexican petrochemical company Alpek is preparing to expand its natural gas operations into Brazil, according to its first-quarter 2025 financial results released on April 22

Venezuela reviews energy output strategy as government targets sustained growth

24 April 2025

Venezuela’s Executive Vice President Delcy Rodríguez convened senior officials from the Ministry of Hydrocarbons and state-owned PDVSA to assess energy production strategies for the latter part of 2025

Citgo share auction clears key hurdle as judge backs Red Tree’s $3.7bn offer

24 April 2025

A US federal judge has approved a $3.7bn bid by Red Tree Investments, a unit of Contrarian Funds, to serve as the minimum offer in a long-running auction of shares tied to Venezuela’s Citgo Petroleum, Reuters reported.

Shell races to complete Venezuela’s Dragón gas survey before US sanctions deadline

24 April 2025

Shell is racing to complete a seismic survey of Venezuela’s Dragón gas field before a key US deadline that could shut down foreign energy operations in the country

Arabia I rig starts Brazil’s Petrobras decommissioning drive

24 April 2025

Borr Drilling’s Arabia I jack-up rig has arrived in Brazilian waters to begin a decommissioning campaign for Petrobras in the Sergipe Basin.

Mexico sends first ULSD shipment from Olmeca refinery as infrastructure lags

23 April 2025

Mexico exported its first cargo of ultra-low sulphur diesel from the new Olmeca refinery in early April, as domestic fuel distribution infrastructure remains inadequate.

Petroperú seeks new operator amid financial strain, strategic pressure at Peru's Block 192

23 April 2025

Peru’s most productive oil asset, Block 192, has once again become the focal point of national energy policy and economic debate.

Oil price slump tests Latin America's fiscal resilience

23 April 2025

A perfect storm of trade tensions, unexpected OPEC+ supply decisions and plummeting oil futures is posing significant challenges to fiscal stability across Latin America and threatening corporate profitability in the region's energy sector.

Gran Tierra bolsters Colombia's balance sheet with $75mn credit line amid volatile market

23 April 2025

Gran Tierra Energy has secured a new reserve-based lending facility totalling $75mn, strengthening its liquidity position as it navigates continued volatility in commodity markets.

Guyana and Suriname look to increase oil and gas exploration

23 April 2025

Guyana and Suriname are ramping up oil and gas exploration activities as they continue their push to become significant players in the global hydrocarbon market.

Vista Energy acquires remaining Petronas stake in Argentina's La Amarga Chica oil field

23 April 2025

Petronas has sold its 50% stake in Argentina's La Amarga Chica oil field to Vista Energy for approximately $1.5bn, positioning the Buenos Aires-based company as the second-largest crude producer in the Vaca Muerta shale basin.

Trinidad and Tobago calls for expression of interest in newly acquired block

23 April 2025

Trinidad and Tobago's national oil company, Heritage Petroleum, has issued a call for expressions of interest for partnership on its recently acquired Preau Block.

Brazil’s energy landscape changes due to sweeping electricity market reforms

23 April 2025

Brazil's energy sector is undergoing significant changes as the government proposes sweeping electricity market reforms while distributed solar generation achieves record growth in the first quarter.

Crude prices climb by 5% amid Trump tariffs & OPEC+ output cuts

23 April 2025

Crude oil prices have increased by 5%, pushed by US sanctions on Iran that were aimed at damaging ‘teapot’ refineries in China, and additional output cuts from the Organisation of the Petroleum Exporting Countries and its allies (OPEC+).

Australia’s Karoon seeks partner for $1.2bn Brazilian offshore oil development

23 April 2025

Australian energy firm Karoon Energy is initiating a search for a joint venture participant before committing to its Neon oil discovery in Brazil's Santos Basin, as the project advances to engineering design phase

Brazil’s Petrobras board backs deal with Unigel over fertiliser plants

23 April 2025

Brazil’s national oil company (NOC) Petrobras' board of directors has approved an agreement with Unigel that would allow for a new bidding process for the operation of two fertiliser factories in Bahia and Sergipe

Brazil’s Petrobras begins decommissioning in Sergipe with jack-up rig arrivals

23 April 2025

The PA-38 jack-up platform contracted by Petrobras arrived in the Sergipe Basin earlier in April to begin well decommissioning activities at the Guaricema field, located in shallow waters about 9km offshore

Russian firms eye joint ventures with Mexico's Pemex for oil projects

22 April 2025

Russian companies are open to develop joint ventures with Pemex to pursue heavy crude oil extraction projects, Russia's Trade Representative in Mexico Aleksandr Abrámov said, Mexico Business News reported.

French Vallourec lands Brazil’s Petrobras pipeline deal

22 April 2025

Vallourec, a French multinational manufacturer specialising in premium tubular solutions, has signed a contract with Allseas to supply nearly 18,000 tonnes of seamless carbon steel line pipes for Petrobras’ Búzios 10 offshore project in Brazil.

Vista Energy acquires Petronas stake in Argentine oil field

22 April 2025

Buenos Aires-based Vista Energy has acquired Petronas' 50% stake in the La Amarga Chica oil field in Argentina's Vaca Muerta shale basin for approximately $1.5bn.

ExxonMobil Guyana awards FPSO contract to MODEC

22 April 2025

ExxonMobil Guyana has awarded MODEC a contract to develop an FPSO vessel for its Hammerhead project, representing the service provider's second FPSO for Guyana's offshore operations.

US looks to prevent Venezuela sanctions from impacting Trinidad and Tobago energy sector

22 April 2025

Trinidad and Tobago and the US have agreed to collaborate on finding solutions that would prevent Washington's sanctions on Venezuela's energy sector from negatively impacting the Caribbean nation's natural gas production and energy security.

Noble Corporation awards Atlas Professionals Surinamese crew management contract

22 April 2025

Atlas Professionals announced that it has been awarded a Crew Management contract by Noble Corporation for an offshore drilling campaign in Suriname.

Chevron faces oil shipment setbacks amid US sanctions on Venezuela

21 April 2025

A Chevron-chartered vessel began unloading nearly 500,000 barrels of oil this past weekend at Venezuela's Jose port, following an order from state-owned PDVSA to return the cargo due to uncertainties around payments linked to US sanctions.

Venezuela and China reaffirm strategic ties as Guyana pushes back on Essequibo interference

21 April 2025

The Maduro regime’s escalating territorial claims over the Essequibo region have drawn criticism from Guyana, which has condemned Beijing’s recent overtures towards informal negotiations between the two South American countries

PDVSA reaffirms commitment to Venezuela's economic independence amid US sanctions

21 April 2025

Petróleos de Venezuela (PDVSA) has reiterated its commitment to bolstering Venezuela's economic independence, standing firm against what it described as "hegemonic actions and imperial aggressions" from external forces

Venezuela condemns arrival of oil vessel in disputed waters, escalating tensions with Guyana

21 April 2025

Venezuela has issued a sharp rebuke over the arrival of the One Guyana floating oil platform in contested maritime territory, reigniting tensions with neighbouring Guyana