LatAmOil - Latin America Oil & Gas
Brazil keeps biodiesel blend at 14% as diesel prices rise
Brazil will maintain the mandatory biodiesel blend in diesel at 14% until further notice, Mines and Energy Minister Alexandre Silveira announced. The decision halts the planned increase to 15% in March.
MODEC launches oil and gas training programme in Guyana
MODEC has launched its inaugural trainee programme in Guyana, selecting eight candidates from over 1,000 applicants across the country.
ExxonMobil reveals output target for Guyana's Hammerhead project
ExxonMobil and its partners have unveiled plans for their seventh development project in Guyana's prolific Stabroek Block, with the Hammerhead project expected to produce up to 180,000 barrels per day of oil and 2.69mn cm/d of natural gas.
Labour action threatens Argentine oil and gas sector
Tecpetrol to conduct gas and oil pipeline infrastructure project in Argentina
Neuquén's construction industry is poised for significant expansion with Tecpetrol's major development in the Los Toldos II area near Rincón de los Sauces.
ExxonMobil identifies fresh gas resources to accelerate Guyana's Gas-to-Energy project
ExxonMobil has announced plans to more than double its gas supply for Guyana's Gas-to-Energy project following the identification of additional associated gas resources in the Stabroek Block.
Colombia's Ecopetrol talks of balanced energy transition
Ecopetrol's Vice President of Refining, Felipe Trujillo, has articulated that Colombia's energy transition strategy involves a balanced approach, integrating both hydrocarbons and renewable energy sources.
Colombia’s Cartagena refinery resumes operations after power failure
The recent power outage at Colombia’s Cartagena refinery, which disrupted refined fuel production on February 14, has been resolved.
Armed pirates raid Pemex platforms, beat workers
Armed attackers robbed two Pemex oil platforms, Ku-H and Zaap Delta, near the Yucatan Peninsula, the Oil Workers Union Section 47 reported on social media on February 16.
Brazil set to join OPEC+ but will opt out from output cuts commitments, says minister
Brazil has approved joining OPEC+, marking the country's emergence as a major oil producer just months before it hosts the UN climate conference.
Suriname oil company Staatsolie announces eight-year bond to fund offshore oil operations
Suriname's national oil company Staatsolie has announced an eight-year bond offering in both US dollars and euros, set to commence on March 23, 2025.
Trinidad and Tobago looking to unlock additional natural gas resources
Trinidad and Tobago (T&T) has unveiled significant exploration targets that could potentially unlock 58.84 trillion cubic feet of natural gas resources, offering a glimmer of hope for the nation's declining gas sector.
Mexico's Sheinbaum unveils new Pemex strategy with private sector profit sharing
Mexican President Claudia Sheinbaum announced plans for PEMEX to share profits with private sector partners whilst revealing a MXN1.85 trillion ($91bn) investment programme for 2024-2030, marking a significant shift from her predecessor's policy.
Mexico moves to cap petrol prices amid station price disparities
Mexico President Claudia Sheinbaum has begun negotiations to cap petrol prices, addressing concerns over filling stations charging up to MXN26-27/L ($1.30). The Federal Consumer Protection Agency (PROFECO) will oversee pricing practices.
Chevron boosts Venezuelan oil exports as US-Venezuela relations improve
Chevron is set to increase Venezuela's oil exports to their highest levels in seven years, following a thaw in relations between the country and the United States
Venezuela and Turkey deepen energy cooperation in high-level talks
Venezuelan Vice President met with Turkish Energy Minister in Istanbul. The two officials agreed to take immediate, concrete actions to strengthen collaboration in key sectors such as oil, natural gas, and mining
Maduro courts Trump as deportations and oil shape US-Venezuela relations
Despite Trump’s past assertions that the US does not need Venezuelan crude, analysts suggest maintaining Venezuelan production on global markets could serve US interests by stabilising energy prices
Colombia imposes temporary taxes on online betting, oil firms and notaries
The Colombian government has introduced temporary taxes on online betting, oil exports and notarial services, effective until December
Pemex crude quality issues linked to overproduction
Production pressures at PEMEX are causing water seepage into crude oil shipments, experts warned on February 12, as the state oil company grapples with quality control issues amid declining output
Brazil fuel prices hit new highs
Petrol and diesel prices have risen again, reaching their highest levels since the start of President Luiz Inácio Lula da Silva’s government
PEMEX plots $977mn petchem push, eyes stable 1.8MMb/d oil output
Colombia introduces temporary tax on fossil fuels amid fiscal challenges
On February 14, Colombia's government announced the implementation of a 1% tax on fossil fuel production, encompassing oil and coal, effective until year-end.
Brazil’s largest FPSO starts oil production
Petrobras has begun production at the Búzios field offshore Brazil with the FPSO Almirante Tamandaré, built by SBM Offshore.
Mexico’s oil exports hit by crude contamination crisis
Mexico's state-owned petroleum company, Pemex, is grappling with a significant quality control crisis that industry experts say reveals systemic operational deficiencies.
Brazil sets June date for oil licensing round after 18-month gap
Brazil's oil regulator ANP has scheduled its fifth permanent-offer licensing round for June 17, marking the country's return to exploration auctions after an 18-month break.
Guyanese president expresses concern over oil reliance, calls for economic diversification
Guyanese President Dr Irfaan Ali called for his country to avoid becoming overly reliant on oil revenues and instead pursue economic diversification.
Turkey seeks to strengthen energy ties with Venezuela
Brazil’s Brava Energia agrees oil supply deal with Trafigura for Atlanta Field
Brazilian oil producer Brava Energia has agreed to sell 6mn barrels of crude from its Atlanta offshore field to commodities trader Trafigura.
Uruguay weighs offshore oil exploration as environmental concerns grow
Uruguay proposed a 3D seismic prospecting project along the country’s Atlantic coast. The project, seen as a key step in advancing hydrocarbon exploration, is expected to conclude by 2027 if approved
Brazil to auction contested oil blocks despite environmental concerns
Brazil’s National Petroleum Agency (ANP) will proceed with an oil exploration auction on 17 June, including 31 blocks on the Equatorial Margin.
Petrobras eyes African oil stakes amid long-term output plans
Petrobras is in talks to acquire stakes in oil assets in Angola, Namibia and South Africa to expand its reserves as it anticipates a production decline after 2030.
Brazil’s Lula pressures Ibama over Petrobras’ Amazon oil drilling bid
Brazilian President Luiz Inácio Lula da Silva will meet environmental agency Ibama to discuss Petrobras' plan to drill for oil near the Amazon River’s mouth.
Brazil’s Petrobras expands ocean monitoring with $17.3mn investment
Petrobras will invest BRL100mn ($17.3mn) to expand monitoring along the Brazilian coast, from the Pelotas Basin in the south to the Equatorial Margin in the north.
BP Brazil chief to lead bioenergy unit after CEO exit
Trinidad and Tobago looks to expand maritime territory amid heightened interest in deepwater exploration
Trinidad and Tobago has unveiled plans to expand its maritime territory beyond the standard 200-nautical-mile Exclusive Economic Zone, signalling its intention to enhance its offshore resource exploitation capabilities.
OPEC January data challenges Venezuela's million-barrel oil claim
Venezuela's oil output fell to 892,000 barrels per day (bpd) in January, down 18,000 bpd from December, OPEC said in its monthly report on February 12, contradicting government claims of higher production.
Brazil’s Petrobras signs oil export deal, energy pacts with India
Brazil’s national oil company (NOC) Petrobras signed multiple agreements with Indian energy firms this week, including an oil export contract and cooperation deals in exploration and production.
Guyana issues 30-day notice to CGX and Frontera for petroleum licence cancellation
CGX Energy Inc. and Frontera Energy Corp. face a critical challenge in Guyana as the government moves to cancel their petroleum prospecting licence for the Corentyne block.
Guyana's natural gas output catching up to Trinidad and Tobago
Guyana's emergence as a major energy producer continues to reshape regional dynamics, with projections indicating that the country will reach natural gas production of 31.86mn cubic metres per day by 2030.
Chevron relying on Hess Guyana stake to boost profitability
Major US oil producer Chevron is looking to strengthen its portfolio through the $53bn acquisition of Hess Corp, with particular interest in Hess's lucrative Guyana assets, where over 11bn barrels of oil equivalent resources have been discovered.
Maurel & Prom expands in Colombia with $150mn gas licence deal
French oil major Maurel & Prom (M&P) has entered into an agreement to acquire a 40% operating interest in the Sinu-9 gas block in Colombia, marking a significant expansion of its Latin American portfolio.
Maduro’s regime seeks US help to extradite opposition figures over alleged Citgo asset theft
Venezuela’s public ministry plans to formally request legal cooperation from the US to pursue corruption charges against several opposition figures, including the former National Assembly leader, Juan Guaidó.
US midstream and other oil, gas projects may get pricier with Trump’s latest tariffs
Oil and gas drilling equipment and pipelines are made of steel and aluminium. And with Trump's latest tariffs, building new transmission lines, which are necessary for rapidly growing gas-fuelled electricity, would get more expensive.
Colombia's Ecopetrol faces production cut as Petro pushes fracking exit
Colombia’s state-run oil company, Ecopetrol, could see daily output shrink by 90,000 barrels if it withdraws from its fracking operations in the US.
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