LatAmOil - Latin America Oil & Gas

3 July 2025

Argentina to appeal against US court order to surrender its controlling stake in YPF

2 July 2025

A US court has ordered Argentina to surrender its 51% controlling stake in national oil company YPF as partial compensation for its controversial 2012 nationalisation of the energy giant.

Pemex crude exports tumble in May, Mexico sees trade surplus

2 July 2025

Mexico’s state-run oil firm Pemex saw a significant fall in crude oil exports last month, with figures showing a steep drop compared with the same period a year earlier.

Venezuelan oil exports rise as PDVSA redirects crude to Asia

2 July 2025

Venezuela ramped up oil exports in June to an average of 844,000 barrels per day, marking an 8% month-on-month increase as state-owned PDVSA intensified shipments to China in response to the loss of access to US and European markets

Guyana's oil production spikes in May, highlights US as energy partner

2 July 2025

Guyana's oil production surged to 667,000 barrels per day in May, marking a significant increase from 611,000 bpd earlier this year, according to a government bulletin.

TotalEnergies expands in Suriname, seeks to sell off Argentine shale assets

2 July 2025

France's TotalEnergies has expanded its presence in Suriname's offshore oil sector through the acquisition of a 25% stake in Block 53, while it is seeking to sell oil assets in Argentina's Vaca Muerta shale play.

Mexico dismantles major fuel theft network with 43 arrests, recovers 2mn litres

2 July 2025

Mexican authorities dismantled a significant fuel theft network in coordinated raids across Coahuila, Querétaro, Mexico City, and the State of Mexico, resulting in 43 arrests and recovery of nearly 2mn litres of illicit fuel

Mexico human rights body cites Pemex negligence in deadly 2019 Tlahuelilpan pipeline fire

2 July 2025

Mexico's National Human Rights Commission has attributed responsibility to state oil company Pemex for the January 18, 2019 pipeline fire in Tlahuelilpan, Hidalgo, that killed 138 people and injured 13, citing structural negligence

Mexico to host world's largest ultra-low carbon methanol plant with $3.33bn investment

2 July 2025

Mexico will become the global epicentre for ultra-low carbon methanol production with construction of Pacífico Mexinol, the country's first facility of this type, according to Transition Industries Chief Executive Rommel Gallo

Brazil’s Petrobras lifts jet fuel price

2 July 2025

Petrobras has raised the average price of aviation fuel supplied from its refineries by 2.9% from July 1, reflecting recent shifts in global oil prices.

TotalEnergies seeks to sell off Argentine Vaca Muerta oil assets

2 July 2025

France's TotalEnergies is in advanced discussions with at least two potential buyers for its Argentine shale oil assets, capitalising on improved valuations under President Javier Milei's economic reforms.

Venezuela’s PDVSA opposition board welcomes US support as Citgo legal shield holds

2 July 2025

Venezuela’s ad hoc board overseeing PDVSA expressed gratitude to US lawmakers, including Florida Republican María Elvira Salazar, for backing efforts to protect Citgo Petroleum from creditor claims

Venezuela steps up Paraguaná refinery oversight amid worker detentions

2 July 2025

Venezuela’s Vice President and Hydrocarbons Minister Delcy Rodríguez conducted an on-site inspection at the Paraguaná Refining Complex in Falcón state, as the government seeks to assure domestic fuel supply stability

Gold Reserve-led group poised to secure Venezuela's Citgo parent in Delaware court auction

2 July 2025

A consortium led by Gold Reserve Ltd. is set to be recommended as the top bidder for the parent company of Citgo Petroleum Corp., marking a key milestone in Venezuela’s prolonged creditor dispute

Citgo auction heats up as global bidders chase Venezuela’s flagship asset

2 July 2025

The Delaware-based federal court overseeing the sale has drawn renewed interest from international investors, marking a critical moment in Venezuela’s years-long debt disputes

Brazil raises biofuel blends, Petrobras backs the move

2 July 2025

Brazil will raise ethanol and biodiesel blending rates in fossil fuels from August 1, the mines and energy ministry said.

US court orders Argentina to surrender controlling stake in YPF

1 July 2025

A US court has ordered Argentina to surrender its 51% controlling stake in national oil company YPF as partial compensation for its controversial 2012 nationalisation of the energy giant.

United Oil & Gas secures environmental permits for Jamaica offshore survey

1 July 2025

AIM-listed United Oil & Gas said on June 30 that Jamaica's National Environment and Planning Agency (NEPA) has granted environmental permits for the company's planned offshore technical programme within its Walton Morant Licence.

Brazil’s Petrobras P-78 heads to Búzios field

1 July 2025

Petrobras has marked the departure of the FPSO P-78 from Seatrium’s yard in Singapore to the Búzios field offshore Brazil, the company’s Chief Executive Magda Chambriard said.

Brazil’s Petrobras awards shipper DOF Group $275mn contracts

1 July 2025

Norway's shipping company DOF Group has been awarded two long-term assignments by Brazil’s Petrobras, to be deployed off the coastline for an anchor handling tug supply craft and a remotely operated vehicle support ship.

Brazil’s Petrobras, Dutch Fugro expand partnership with four contracts worth $340mn

1 July 2025

National oil company Petrobras and Dutch geo-data specialist Fugro have expanded their partnership with four multi-year contracts valued at approximately $340mn for subsea infrastructure inspection and monitoring in Brazil.

France’s Exail awarded Petrobras FPSO navigation contract through Brazilian partner

1 July 2025

Exail has won a contract with Brazilian offshore services firm Mitang to supply navigation services for floating production, storage and offloading (FPSO) units operated by the country’s national oil company (NOC) Petrobras off the coastline.

Guyana seeks partners to build NGL facility

1 July 2025

Guyana is seeking private partners to build a natural gas liquids (NGL) facility, a government notice confirmed.

Mexico records $1.03bn trade surplus as crude exports offset manufacturing decline

1 July 2025

Higher crude oil shipment volumes propelled Mexico into $1.03bn trade surplus territory during May, reversing April's $88mn deficit as energy exports compensated for tariff-induced manufacturing weakness, Inegi statistics revealed

Netherlands and Panama emerge as Guyana's biggest crude destinations

1 July 2025

Shipping data has shown Guyana's offshore crude exports have concentrated heavily on two key destinations in the first five months of 2025, with the Netherlands and Panama receiving 43% of the country’s total shipments.

TotalEnergies purchases fresh stake in Suriname oil block

1 July 2025

France's TotalEnergies has expanded its presence in Suriname's offshore oil sector through the acquisition of a 25% stake in Block 53, strategically positioned adjacent to its flagship GranMorgu development project.

Yinson prepares $1.2bn refinancing for Brazil FPSO

30 June 2025

Malaysia’s Yinson Production is set to close a $1.17bn bond issue next week to refinance its FPSO Maria Quitéria. Settlement and closing of the bond is expected on July 7.

Petrobras backs Brazil biofuel boost

30 June 2025

Brazil’s plan to raise biofuel blending rates could help cut petrol imports and aligns with Petrobras’ own initiatives, the company’s industrial processes head William Franca said.

Brazil’s Foz do Amazonas spurs offshore race

30 June 2025

Brazil’s Foz do Amazonas Basin is drawing strong interest from global oil firms, with Horizon Engage reporting that aggressive bids show the region’s potential as similar to Guyana’s Stabroek field.

Fugro secures $340mn Petrobras subsea deal in Brazil

30 June 2025

Petrobras has awarded Fugro four new multi-year contracts for inspection and monitoring of subsea infrastructure in Brazil. The contracts, worth around $340mn over 4 years, will start in the fourth quarter of 2025.

Brazil lifts biofuel blends

30 June 2025

Brazil will raise ethanol and biodiesel blending rates in fossil fuels from August 1, the Mines and Energy Ministry said.

Brazil’s Petrobras backs offshore push in São Paulo

30 June 2025

Petrobras, the São Paulo State Secretariat for Economic Development, InvestSP and the Brazilian Energy Council (Brenc) have signed an agreement to expand offshore oil and gas activities on the São Paulo coast.

Brazil gas demand up as GNA plant comes online

30 June 2025

Brazil’s annual gas demand for power generation will rise by at least 6mn cubic metres per day from July to November following the start-up of Gas Natural Açu’s (GNA) GNA II thermal plant, the company said.

TotalEnergies in talks to sell Argentine shale assets

30 June 2025

France's TotalEnergies is in discussions with at least two potential buyers for its Argentine shale oil assets, as international energy companies capitalise on improved valuations under President Javier Milei's economic reforms.

OPEC+ poised for further oil output boost in August

29 June 2025

OPEC and its allies are set to press ahead with another substantial increase in oil production for August

Brazil approves additional pre-salt oil auction to boost revenue

29 June 2025

Brazil's Chamber of Deputies has approved legislation permitting the government to auction its stake in oil from uncontracted offshore pre-salt areas, potentially generating significant revenue as the administration grapples with budget constraints.

Moody's maintains Colombia's Ecopetrol credit rating amid government support

29 June 2025

Moody's Investors Service has maintained Ecopetrol's Ba1 global credit rating with a stable outlook, according to a report published on June 27, citing the Colombian energy giant's dominant market position and strategic diversification.

Gas shortage looms larger for Colombian companies

29 June 2025

Colombian manufacturers face mounting pressure as the country's natural gas deficit threatens to escalate significantly next year, according to commodity exchange projections.

Colombia's Ecopetrol board member Mónica de Greiff reverses resignation after unanimous appeal

27 June 2025

Monica de Greiff Lindo has withdrawn her resignation from Ecopetrol's board of directors following unanimous intervention by fellow members, the Colombian state oil company reported.

Colombia faces twin fiscal and energy challenges as deficit soars to 7.1%

27 June 2025

Colombia confronts mounting fiscal pressures alongside energy sector instability as the government's deficit trajectory threatens macroeconomic stability, the nation's comptroller general highlighted at the Andesco congress.