LatAmOil - Latin America Oil & Gas
Ecopetrol prioritises green hydrogen and exploration in 2025 plans
Colombia’s state-owned energy giant, Ecopetrol, has unveiled an ambitious strategy for 2025, emphasising its dual focus on traditional hydrocarbon production and green energy projects.
Venezuela oil exports near 1mn bpd mark, highest since 2020
Venezuela's crude and refined products exports surged to 974,033 barrels per day in November, approaching levels not seen since early 2020, despite ongoing US sanctions and infrastructure challenges.
Guyana's crude production averages 608,000 barrels per day as ExxonMobil achieves offshore record
ExxonMobil's crude oil production at the Stabroek Block averaged 608,000 barrels per day in the first 10 months of 2024, with the company's Payara project achieving the fastest ramp-up in the history of deepwater operations.
Petrobras begins sale process for minority stake in Sergipe field
Brazil's national oil company (NOC) Petrobras has launched the initial stage of selling its 25% stake in the Tartaruga shallow-water field, located in Sergipe state.
EY, PwC analysts expect Argentina's RIGI initiative to boost foreign investment
Argentina's latest bid to attract foreign investment through the RIGI incentives package has shown early promise but faces significant hurdles, according to industry experts.
Harbour Energy acquires stake in Argentina's first LNG project
British energy firm Harbour Energy has acquired a 15% stake in Argentina's first LNG export project, which will feature a floating liquefaction vessel in Río Negro's San Matías Gulf.
Afreximbank and JE Energy sign financing agreement to support Guyanese crude exports
Petroperu’s woes escalate as market ambitions clash with crises
Petroperu, Peru’s state-owned oil company, is under intense scrutiny as it grapples with financial instability, operational hurdles, and mounting social conflicts.
Pemex faces debt crisis as contracts are suspended
Mexico’s state-owned oil company, Pemex, is navigating a deep financial crisis, marked by unpaid debts exceeding $20bn and a temporary suspension of new contracts with service providers.
Repsol sells Colombian oil assets for $530mn to GeoPark
Spanish energy giant Repsol has exited its oil operations in Colombia, selling key assets to GeoPark for $530mn.
Gran Tierra Energy announces seventh oil discovery in Ecuador
Gran Tierra Energy has announced its seventh oil discovery in Ecuador with the successful drilling of the Zabaleta-K1 well in the Chanangue Block.
US-Venezuela energy talks expected in early 2025, industry official says
Energy talks between US and Venezuelan officials could begin as early as January 2025, following presidential inaugurations in both nations, according to a senior Latin American energy industry representative.
Guyanese government considering options for gas monetisation
Guyana's Vice President Dr Bharrat Jagdeo has outlined the government's multifaceted approach to gas monetisation, addressing concerns about the selection of US-based Fulcrum LNG in a tripartite arrangement with ExxonMobil Guyana Ltd.
Argentina's government advances expansion of major gas pipeline as RIGI initiative takes effect
Argentina's government is progressing with the expansion of the Perito Francisco Pascacio Moreno gas pipeline through a project proposed by Transportadora de Gas del Sur under the government’s Large Investment Incentive Regime.
YPF enters into landmark floating LNG project with Golar LNF and Pan American Energy
Argentina's state energy firm YPF has entered into a landmark $3bn floating LNG project alongside Golar LNG and Pan American Energy, marking a significant expansion of the country's LNG export capabilities.
Key Ecuadorian oil pipeline reverts to state control
Ecuador's heavy crude oil pipeline has reverted to state control following the expiration of its 20-year concession on November 30, 2024, Vice Minister of Hydrocarbons Guilhermo Ferreira Oliveira confirmed.
Pemex oil production hits 14-year low as Dos Bocas refinery faces setbacks
In October, Petróleos Mexicanos (Pemex) recorded its lowest oil production in over a decade, falling below 1.5mn barrels per day (bpd)—a level not seen even during the pandemic.
Petrobras signs platform deals for Sergipe deepwater project
Petrobras has initiated the contracting process for up to two FPSO (floating production, storage, and offloading) vessels for the Sergipe Águas Profundas (SEAP) project in the Sergipe-Alagoas Basin.
Citgo auction sparks fierce battle among creditors, as legal and financial stakes escalate
The impending auction of Citgo Petroleum Corporation's parent company has escalated into a complex financial battleground, with multiple creditors manoeuvring to secure the prized Venezuelan asset.
Geopark to acquire Repsol’s Colombian oil assets in $530mn deal
Geopark, a Latin America-focused energy firm, has reached binding agreements with Spain's Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire their oil and gas assets in Colombia, the company reported.
Canacol Energy updates Colombia drilling progress, highlights new production rates
Canacol Energy is presenting upgrades on its exploration and development drilling activities in Colombia, the company stated in a release
ExxonMobil, Hess, CNOOC still interested in Guyana's Block S8, vice president confirms
Guyana's ExxonMobil consortium has reaffirmed its interest in shallow water Block S8, according to Vice President Dr Bharrat Jagdeo, marking a reversal from earlier reports suggesting the company had withdrawn from negotiations.
Guyana gains preliminary loan approxal from EXIM Bank for gas-to-energy project
Guyana's Gas-to-Energy project has secured preliminary approval for a loan exceeding $500mn from the United States Export-Import Bank, Vice President Bharrat Jagdeo announced in a recent press conference.
Vaca Muerta hits record oil production in third quarter of 2024
Oil production from Argentina's Vaca Muerta shale formation reached a record 400,000 barrels per day in Q3 2024, marking a 35% y/y increase, according to consultancy Rystad Energy.
Argentina advances $700mn gas pipeline expansion
Argentina's government is advancing plans to expand the Perito Francisco Pascacio Moreno Gas Pipeline through a $700mn project presented by Transportadora de Gas del Sur (TGS), a company controlled by Pampa Energía and the Sielecki family.
Venezuela restores key gas facility amid sabotage allegations
Venezuela has restored operations at the Muscar gas pipeline in Monagas State, following what officials have described as a deliberate act of sabotage that caused significant damage to critical energy infrastructure.
Citgo sale faces overhaul amid complex legal struggles and creditor discontent
The protracted legal battle surrounding Citgo Petroleum's parent company shares has reached a critical juncture, with court-appointed advisers recommending a comprehensive auction overhaul after a year-long process plagued by mounting complexities
PDVSA announces full recovery of Muscar complex after gas pipeline explosion
Venezuela's state-owned oil company, Petróleos de Venezuela (PDVSA), has confirmed the full recovery of the Muscar Industrial Complex in Monagas state, which was severely damaged in a fire on November 11.
Petrobras focuses on ready-to-run ethanol projects
Petrobras will focus its initial ethanol investments on operational assets through partnerships with established producers, limiting its stake to 50%, according to the company’s Energy Transition Director, Mauricio Tolmasquim.
Arrow Exploration reports record Q3 2024 results, announces plans for 2025 growth in Colombia
Arrow Exploration, a hydrocarbon operator with assets in key Colombian basins, has reported its Q3 2024 interim results and provided updates on its operations.
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