LatAmOil - Latin America Oil & Gas
Bolivia seeks fuel stability with oil pipeline deal and new import rules
Bolivia is seeking solutions to address its ongoing fuel crisis, exacerbated by falling domestic oil production and recent road blockades led by former President Evo Morales’ supporters.
Brazil oil field gets new FPSO after 8 years
Brava Energia is replacing the FPSO Petrojarl I at the Atlanta field in Brazil with the FPSO Atlanta, following nearly eight years of operation in the Santos Basin.
Argentina and Brazil close landmark gas export deal
Argentina and Brazil have sealed a landmark gas agreement that will see Vaca Muerta's production being exported to Brazilian markets starting in 2025.
ExxonMobil Guyana to host feedback session for vendors
ExxonMobil Guyana announced plans to host a virtual Contracting Activity Feedback Session for vendors next month, continuing its efforts to strengthen local supply chain engagement.
Petrobras announces global bond redemption
Petrobras announced that its subsidiary, Petrobras Global Finance B.V. (PGF), will redeem two series of notes due in 2025 and 2026.
TDI-Brooks International completes Surinamese seabed survey
TDI-Brooks International has completed a comprehensive seabed survey project for Suriname's national oil company Staatsolie, which was contracted through GeoPartners.
BP signs PSA for natural gas block off Trinidad and Tobago
Trinidad and Tobago signed a production-sharing agreement with BP's local unit to explore and produce natural gas at block NCMA 2.
Exxon exits Suriname offshore exploration block
ExxonMobil has withdrawn from an offshore oil exploration block off Suriname, said national oil company Staatsolie.
Data centres drive Brazil's renewable energy market growth
Brazilian data centres have secured significant renewable energy commitments, contracting an average of 330 MW through 11 long-term agreements over the past three years, according to Clean Energy Latin America (CELA),
Brazilian oil production shifts as FPSO Petrojarl ends service
Brazilian energy company Brava Energia has ended production from the floating, production, storage, and offloading (FPSO) Petrojarl as it prepares to transition operations to the larger FPSO Atlanta at an offshore field
Brazil's oil sector emerges as the leading export force
Brazil has reached a significant milestone as crude oil becomes its primary export product, surpassing traditional powerhouses such as agribusiness and mining, according to the CEO at the national oil company (NOC) Petrobras
Nicaragua unveils new canal route in bid to rival Panama
Nicaraguan President Daniel Ortega has unveiled plans for a 445-kilometre interoceanic canal that would provide an alternative to the congested Panama Canal, presenting the proposal to Chinese investors at a regional business summit.
Suriname oil sector poised for major growth as Saipem and TechnipFMC close Block 58 offshore contracts
TotalEnergies has awarded major contracts for Suriname's first significant offshore oil and gas development, the GranMorgu field in Block 58.
ExxonMobil to acquire three Guyana FPSOs by end of 2024
ExxonMobil is set to acquire the FPSO Liza Destiny from Dutch engineering firm SBM Offshore NV by the end of 2024, marking the oil giant's third FPSO purchase in Guyana ahead of the original contract expiration date of December 2029.
Venezuela faces fresh US pressure as Washington recognises opposition leader as president-elect
The US has ramped up pressure on Venezuela's President Nicolás Maduro by formally recognising opposition candidate Edmundo González as the country's president-elect, marking the first time the Biden administration has used this designation.
ExxonMobil seeking machining and repair work partners in Guyana
ExxonMobil Guyana Limited launched a Local Market Condition Survey to evaluate the capabilities of local suppliers for fabrication, machining, and repair work in the Georgetown area.
Corcel expands into Brazilian gas market with IRAI field option
UK-listed energy company Corcel has announced its entry into Brazil's onshore gas sector through an option agreement with Petroborn Óleo e Gás for the IRAI gas field in Bahia state.
Brazil unveils new climate targets beyond forest conservation
Brazil has announced expanded climate goals ahead of hosting COP30 in Belem next year, targeting a 59-67% reduction in emissions from 2005 levels by 2035, with the new nationally determined contribution (NDC) broadening its focus beyond deforestation
Arrests made after PDVSA gas complex explosion in Venezuela
As many as 11 people have been arrested as part of a probe into an explosion and fire at a major gas complex last week, said Venezuela Vice-President and Oil Minister Delcy Rodriguez.
Petrobras sets $111bn investment target for 2025-2029
Petrobras plans to boost spending on new oil drilling and other projects by investing $111bn between 2025 and 2029 under its new business strategy.
Environmental review complete for new Falkland Islands oil development
The Falkland Islands Executive Council (ExCo) has reviewed the environmental impact statement (EIS) for Navitas Petroleum's Sea Lion Field Northern Development Area following a six-week public consultation that concluded in August 2024.
Petrobras partners with Yara for domestic emissions solution production
Brazil’s national oil company (NOC) Petrobras has signed an agreement with Norway’s fertilizers major Yara to manufacture AUS 32 diesel exhaust fluid locally, aiming to replace imports.
Petrobras sets $111bn investment for 2025-2029
Petrobras plans to invest $111bn between 2025 and 2029 under its new business strategy.
SBM Offshore to unveil three new FPSOs for deployment in Brazil and Guyana
SBM Offshore is finalising preparations for the deployment of three floating production, storage, and offloading vessels in 2025, marking a significant expansion of its operational fleet.
Guyana's Natural Resource Fund receives over $2 billion for the year to date from oil sales
Guyana's Natural Resource Fund has accumulated over $2bn in revenue to date in 2024, with additional inflows expected before year-end, according to data from Guyana's Oil Ledger.
Argentina and Brazil agree to facilitate gas exports from Vaca Muerta
Brazil and Argentina signed a landmark memorandum of understanding during the G-20 meeting in Rio de Janeiro to facilitate gas exports from Argentina's Vaca Muerta shale formation.
Brazil, Argentina to sign deal to boost imports and cut gas prices
Brazil will sign an agreement with Argentina to boost imports of natural gas from Argentina's Vaca Muerta field, reducing energy costs, Energy Minister Alexandre Silveira announced on Sunday.
Guyana lauds Marco Rubio's nomination as US Secretary of State
Guyana's government has lauded US President-elect Donald Trump's nomination of Florida Senator Marco Rubio as Secretary of State.
Mexico unveils bold plan to rescue Pemex with new fiscal regime
Mexico's government has unveiled a comprehensive overhaul of the fiscal regime for Pemex, the world’s most indebted oil company, with a focus on simplifying its tax obligations.
Argentina pulls out of Cop 29 summit, favouring oil and gas development
Argentina withdrew its delegation from the UN Cop 29 climate summit in Baku, Azerbaijan, the country’s foreign affairs ministry confirmed.
YPF tops Argentine crude oil exports amid accelerated output
YPF has emerged as Argentina's leading oil exporter, driven by accelerated development in Vaca Muerta, improved transport infrastructure, and strengthened sales to Chile.
TotalEnergies awards offshore Surinamese contracts to Saipem and TechnipFMC
TotalEnergies has awarded major contracts to Saipem and TechnipFMC for the development of its GranMorgu field in Block 58, marking Suriname's first significant offshore oil and gas project.
SBM Offshore wins Suriname development contract from TotalEnergies
SBM Offshore has secured contracts for the development of Suriname's GranMorgu field in Block 58, awarded by operator TotalEnergies EP Suriname.
Guyana boosts hydrocarbon exploration capacity through 75MW power barge deal with Karpowership
Guyana has expanded its floating power capacity to 111MW through a new rental agreement with Turkish firm Karpowership, Finance Minister Ashni Singh announced.
Vale signs free market gas supply agreements
PDVSA mobilises response team after major gas pipeline explosion
Venezuela’s state oil company, PDVSA, announced that a multidisciplinary team led by its president, Héctor Obregón, is actively assessing the damage from a major explosion at the Muscar gas pipeline in Monagas.
Venezuela’s oil output rises despite sanctions, OPEC reported
Venezuela reported a notable increase in oil production in October, with output reaching an average of 989,000 barrels per day (bpd), a 4.8% rise from the previous month’s 943,000 bpd, OPEC reported.
Shell rumoured to be considering investment in Argentinian LNG project
Supermajor Shell is being tabbed as a new potential partner in Argentina’s huge LNG export terminal to be built in Patagonia.
SBM Offshore commences production on Jaguar FPSO for ExxonMobil Guyana project
SBM Offshore hosted the steel strike ceremony for its Jaguar FPSO, which is scheduled for use in ExxonMobil's Whiptail project, with the ceremony initiating the production of over 300 metric tonnes of fabricated fixtures.
ExxonMobil Guyana crude oil output exceeds 500 million barrels
ExxonMobil Guyana announced that it has produced 500mn barrels of crude oil production from its Stabroek Block operations.
Brazil urges countries to set ambitious climate targets
Brazil aims to slash greenhouse gas (GHG) emissions by 67% by 2035, compared with 2005 levels, and its Environment Minister Marina Silva has urged other countries to follow suit.
Petrobras reports higher profits, drops plan to sell biofuels unit
Petrobras reported third-quarter net profit of $5.7bn (BRL32.6bn), higher than has been expected. This was a climb of about 22%. It also announced $3bn for shareholder dividends, again higher than the $2bn expected.
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