LatAmOil - Latin America Oil & Gas
YPF CEO claims infrastructure issues stand in the way of Argentine energy export boom
Argentina's energy sector holds immense export potential but faces crucial infrastructure hurdles, according to YPF CEO and President Horacio Marín during his address at the 30th Industrial Conference of the UIA.
LatAmOil: Trump’s tariff plans could reshape global oil markets
Trump’s tariff plans could reshape global oil markets
The prospect of 25% tariffs on crude imports from Canada and Mexico, as proposed by US President-elect Donald Trump, could lead to significant shifts in global oil flows.
YPFB approves Argentine gas exports to Brazil through its pipeline
Argentina secured a significant advance in its regional energy strategy as Bolivia's YPFB agreed to allow Vaca Muerta gas transit through its pipeline system to Brazil.
Brazil, Argentina companies sign deal with Bolivia's YPFB to pipe Vaca Muerta gas
Grupo Matrix Energia from Brazil and TotalEnergies' Argentine division have finalised their first agreement with Bolivia’s state-owned YPFB to transport gas from Argentina's vast Vaca Muerta shale formation.
Brazil’s Brava Energia awards $200mn offshore equipment contracts
Brava Energia has awarded contracts worth approximately $200mn for its integrated campaign in Atlanta and Papa-Terra fields off Brazil, with a potential expansion to develop Malombe via a connection to Peroa
Mexico orchestrates financial lifeline for Pemex amid mounting supplier debt
Mexico's finance ministry is preparing to mobilise a banking consortium to address Pemex's substantial supplier debt.
Mexico braces for oil market volatility in 2025 fiscal strategy
Mexico's Finance Minister Rogelio Ramírez de la O has unveiled a cautiously calibrated fiscal approach for 2025, anticipating potential turbulence in global oil markets amid geopolitical uncertainties and impending political transitions.
Mexico scrambles to save Pemex amid debt and climate challenges
Mexico’s national oil company, Pemex, faces mounting debt and declining crude production, highlighting the significant challenges the country confronts in balancing energy needs with environmental commitments.
Guyana to invest additional $121 million into landmark Gas-to-Energy project
Guyana's government has sought additional funding of GYD 25.3bn ($121mn) from Parliament for its Gas-to-Energy project, according to documents filed by Senior Minister Dr Ashni Singh.
Guyana Natural Resource Fund hits $3.1 billion from oil revenues
Guyana's Natural Resource Fund balance reached $3.1bn by October 2024, Senior Minister of Finance Dr Ashni Singh confirmed.
Suriname to distribute oil and gas wealth to citizens
Suriname has unveiled plans for a “Royalties for Everyone” program to distribute wealth from its anticipated oil and gas revenues, President Chan Santokhi announced.
Colombia's oil and gas production hits multi-year lows in September
Colombia’s oil production fell to its lowest level in two years during September, reaching 750,572 barrels per day (bpd), according to the National Hydrocarbons Agency (ANH). This marks a 2.6% decline compared to September 2023.
Brazil eyes state-led solution for Braskem ownership
Brazil's government and major banks are discussing plans to restructure petrochemical firm Braskem's ownership, as engineering group Novonor seeks to divest its majority stake.
Critics slam Guyana tapping a new entry to develop gas project
Guyana's ambitious plans to monetise its natural gas resources have hit a standstill five months after the government's controversial selection of Fulcrum LNG, a one-year-old US startup, to develop a potential $30bn export project.
Legal fees hit $30mn in stalled Citgo share sale as creditors voice concern
Court-appointed advisers managing the frozen auction of Venezuela's Citgo Petroleum parent company have amassed nearly $30mn in fees, sparking outrage among creditors awaiting compensation.
Constellation wins $130mn Brazil drilling contract
Drilling contractor Constellation has secured a $130mn contract from Brava Energia for its Lone Star ultra-deepwater rig to work offshore Brazil.
Venezuela could hit 2mn bpd oil output in 2025, industry group says
The Latin American Association of Oil Workers believes Venezuela could reach oil production of 2mn barrels per day (bpd) next year if the government collaborates effectively with private companies, its director said.
Genneia pushes for oil and gas output with lower emissions in Argentina
Genneia is intensifying its support for oil and gas companies in Argentina's Vaca Muerta basin to produce export barrels with lower environmental emissions, according to Gustavo Anbinder, the company's Director of Business and Development.
Rockhopper Exploration confirms independent resource assessment of the Falkland Islands basin
Rockhopper Exploration reported significant progress on the Sea Lion development in the North Falkland Basin following an update from partner Navitas Petroleum LP and a new independent resource assessment.
Pemex slashes crude processing by 17% amid refinery setbacks
In October, Petróleos Mexicanos (Pemex) reported a significant 17% reduction in its crude oil processing across all refineries, with a daily output of 730,744 barrels.
Pemex pursues private sector partnerships amid debt challenges
Victor Rodriguez, general director of Petróleos Mexicanos (Pemex), announced plans to collaborate with private sector companies through exploration and production contracts, emphasising the critical role of structured agreements.
Trump’s tariff plan: A bold move or a risky gamble?
US president-elect Donald Trump promises to shake up global trade with heavy tariffs: 25% on goods from Mexico and Canada, plus 10% on Chinese products in addition to existent levies.
YPF, Golar LNG, Pan American Energy to engage in unified LNG project
YPF, Argentina's national oil company, will join forces with Pan American Energy Group SL and Golar LNG in a unified liquefied natural gas venture, YPF President Horacio Daniel Marín announced on LinkedIn.
Petrobras in talks with Raizen, BP for partnership in big ethanol comeback
Brazil’s national oil company (NOC) Petrobras is negotiating with Raizen, BP and Inpasa for potential joint ventures in ethanol production as the firm plans a significant return to the sector.
Petrobras targets $55bn dividend payout by 2029
Brazil’s national oil company (NOC) Petrobras plans to distribute up to $55bn in dividends through 2029, according to its five-year strategy, with potential additional extraordinary payouts of $10bn.
Seadrill drillships prepare for Petrobras contracts off Brazil
Two ultra-deepwater drillships have rejoined Seadrill's fleet as they finalise preparations for contracts with Brazil’s national oil company (NOC) Petrobras.
Venezuela grapples with gas supply crisis following PDVSA gas plant explosion
Venezuela’s natural gas production has plummeted by over 80% after a November 11 explosion and fire at PDVSA’s Muscar plant in Monagas state, dealing a severe blow to the nation’s energy sector.
Mexico devises strategy to shield exports from US tariffs under Trump
Mexico is taking decisive steps to protect its trade interests with the United States amid growing concerns over potential tariffs on its exports under the incoming Trump administration.
Guyana interested in collaborating with India on oil and green energy
India and Guyana are not currently negotiating direct crude oil sales despite growing bilateral energy cooperation, Vice President Bharrat Jagdeo clarified.
India eyes energy ties with Guyana amid CARICOM summit
Indian Prime Minister Narendra Modi's recent visit to Guyana has marked a significant shift in India's diplomatic and energy strategies in the Caribbean.
Bolivia and Brazil strengthen gas sector cooperation
YPFB Andina and Fluxus Bolivia have formalised a key agreement to jointly explore and develop the Vitiacua gas block, marking a significant step in strengthening energy ties between Bolivia and Brazil.
ONE Guyana FPSO to be deployed in early 2025
Guyana's oil production capacity is set to significantly expand with the deployment of its fourth floating production storage and offloading facility in early 2025, according to Hess CEO John Hess.
Petrobras to deploy 15 platforms, mulls six more amid supply chain woes
Petrobras has unveiled plans to deploy 10 offshore platforms by 2029 in its pre-salt fields, with five more units slated for installation beyond 2030 across pre-salt and post-salt areas, according to its 2025-2029 strategic plan
TDI-Brooks completes seabed survey programme in Suriname
TDI-Brooks has completed a multi-client seabed survey program in Suriname for GeoPartners and Staatsolie Maatschappij Suriname, covering 45,000 km2 using their RV Gyre vessel.
Colombia's oil and gas sector faces decline despite Promigas' growth
Colombia’s oil and gas industry is experiencing significant setbacks, with production levels hitting historic lows in September 2024.
ExxonMobil, Hess and CNOOC withdraw from Guyana's Block S8
ExxonMobil and its partners have withdrawn from negotiations over Guyana's shallow-water oil block S8, marking a significant setback in the South American country's efforts to diversify its energy industry.
Argentina's Vaca Muerta in need of infrastructure investments in order to achieve success
Argentina's natural gas production is surging in the Vaca Muerta shale formation, but limited pipeline infrastructure could impede the country's goal of becoming a major gas exporter by the early 2030s.
SBM Offshore secures full financing for Jaguar FPSO
SBM Offshore announced that it has secured $1.5bn in project financing for its FPSO Jaguar vessel.
YPF seeking additional funding to expand Vaca Muerta pipeline
Argentina's national oil company YPF is looking to secure $2bn in financing during the second quarter of 2025 to complete its Vaca Muerta Sur project.
Construction begins on record-breaking Petrobras FPSO
Construction has started on what is being described as the largest floating, production, storage, and offloading (FPSO) vessel in Brazil national oil company (NOC) Petrobras' history.
Brazil and Argentina explore major gas partnership
Brazil and Argentina have signed a significant memorandum of understanding (MoU) to explore gas export infrastructure development, potentially leading to Brazilian imports of up to 30mn cubic metres per day (cbmd) of Argentine gas daily by 2030.
Brava Energia transitions production to new FPSO Atlanta
Brazilian oil and gas company Brava Energia has begun decommissioning its floating, production, storage and offloading (FPSO) vessel Petrojarl as it prepares to transition operations to the larger FPSO Atlanta at an offshore Brazilian field.
Venezuela slams US sanctions law, proposes harsh measures for supporters
The law, dubbed the Bolívar Law, is positioned by the US government as escalating sanctions on Venezuela's oil and gas dealings.
Venezuela’s oil and gas recovery stalled by Muscar Complex explosion
The recent explosion at Venezuela’s Muscar Gas Complex, a critical facility owned by PDVSA in Monagas state, is expected to delay oil and gas production until at least February 2025.
Venezuela and OPEC discuss emissions reductions amid global tax proposals
Venezuela’s Minister of Ecosocialism, Josué Lorca, met with OPEC Secretary General Haitham Al-Ghais during the COP29 climate summit in Baku, Azerbaijan, to explore strategies for reducing emissions in the oil sector.
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