LatAmOil - Latin America Oil & Gas
Chevron exit could lead to inflation and devaluation in Venezuela, warns economist
Asdrúbal Oliveros, Venezuelan managing partner of Ecoanalítica, has assessed the economic ramifications of the US decision to revoke Chevron's license, forcing the oil company to cease operations in Venezuela within 30 days
ExxonMobil Guyana oil production set to remain stable following Venezuelan border threat
Venezuelan coast guard vessels allegedly entered Guyanese waters on March 1, approaching an ExxonMobil production vessel in the disputed offshore region, according to Guyana's President Irfaan Ali.
Colombia's Ecopetrol initiates market-maker programme for share liquidity
Ecopetrol announced the implementation of a market-maker programme for its shares listed on the Colombian Stock Exchange.
Paused US tariffs on Mexican oil and gas spark trade tensions
US President Donald Trump has granted Mexico a temporary exemption of a month on most goods from recently imposed tariffs.
Venezuela naval vessels enter disputed Guyana waters near ExxonMobil site, Maduro regime approaches Caricom
Venezuela's coast guard vessels allegedly entered Guyanese waters on March 1, approaching an ExxonMobil production vessel in the disputed offshore region, Guyana's President Irfaan Ali announced.
Uruguay's new president prioritises energy as key economic driver
Uruguay already boasts one of the cleanest energy grids in the region, with 99% of its electricity derived from renewable sources
Colombia's Ecopetrol seeks $2bn debt to bolster acquisition strategy
Colombia's state-controlled oil firm, Ecopetrol, intends to secure up to $2bn in additional debt this year to finance acquisitions,
Oil workers' union leader calls Neuquén key to Argentina's future
Oil workers' union leader Marcelo Rucci has declared Neuquén province to be the epicentre of Argentina's future during the opening of 2025 legislative sessions.
Brazil’s Petrobras expands offshore fleet amid production push
Brazil’s national oil company (NOC) Petrobras is expanding its offshore capabilities with four additional support vessels by 2026, bringing its fleet to 48.
Brazil's Atlanta FPSO ships maiden crude cargo
Brazil's recently commissioned Atlanta floating production, storage and offloading (FPSO) vessel has exported its first crude oil shipment, loaded aboard the Sonangol Namibe in late February.
Venezuela pressures Caricom over Essequibo dispute amid rising tensions
Venezuelan Vice President Delcy Rodríguez urged the Caribbean Community (Caricom) to take a “constructive role” in the escalating border dispute with Guyana, warning against actions that could trigger regional conflict
Brazilian firm PRIO obtains drilling permit for Wahoo field
Brazilian oil and gas company PRIO, previously known as PetroRio, has obtained a drilling permit from environmental agency Ibama for operations at the Wahoo field in the Campos Basin, off the coast of Espírito Santo state
Venezuela's oil exports surged in February before US licence revocation
Venezuela’s crude and fuel exports climbed to their highest level last month since November, 2024, buoyed by shipments ahead of a US decision to revoke a key licence allowing Chevron to operate in the country
New US tariffs on Canadian and Mexican oil disrupt markets
Canadian oil imports to the US now face a 10% tariff, imposed on March 4. The sudden policy shift highlights ongoing volatility in trade relations between the US and its closest partners.
Pemex seeks lifeline in Asia and Europe after Trump’s tariff blow
Mexican state oil company Pemex is seeking markets in Asia and Europe for its crude exports following President Donald Trump's recent imposition of tariffs on Mexican goods, according to Reuters.
Chevron, Shell, and TotalEnergies work to boost Suriname's oil and gas exploration
Suriname's offshore oil and gas sector is poised for significant expansion as energy majors Shell, TotalEnergies, and Chevron prepare to drill approximately 10 wells between 2025 and 2027 in the country's portion of the Guyana-Suriname Basin.
Chevron's Venezuela licence caught in political dispute
The decision by US President Donald Trump to revoke Chevron’s oil licence in Venezuela has heightened tensions, as Washington takes a harder line on President Nicolás Maduro’s regime.
Texas refinery posts $118mn loss after Pemex acquisition
Deer Park refinery in Texas registered a $118m financial loss last year, marking its first negative results since Mexican state oil company Pemex acquired 100% ownership in 2022
Chevron’s Venezuelan oil shipments continue as scheduled to US despite licence revocation
The recent revocation of the US licence permitting Chevron to operate in Venezuela could pave the way for new negotiations between the American oil giant and Venezuela's state-run PDVSA, according to industry sources.
Chevron’s Venezuela licence caught in political fight as Trump pressures Congress
While President Donald Trump’s decision on revoking Chevron’s oil licences in Venezuela appears to mark a tougher stance on Nicolás Maduro’s regime, the legal and procedural framework suggests a more complex reality.
Venezuela naval vessels enter disputed Guyana waters near ExxonMobil site
Venezuela's coast guard vessels allegedly entered Guyanese waters on March 1, approaching an ExxonMobil production vessel in the disputed offshore region, Guyana's President Irfaan Ali has announced.
Pemex crude exports sink 44% to three-decade low in January
Mexico's state oil firm Pemex reported 530,000 barrels per day (b/d) of crude exports in January, a 44% plunge from year-earlier levels and the lowest monthly figure since 1990.
Petrobras Q4 loss widened by FX impact on debt
Brazil’s Petrobras reported a fourth-quarter net loss of BRL17bn ($2.9bn), compared with a BRL31bn profit a year earlier, as exchange rate fluctuations on debts with overseas subsidiaries impacted results.
Trinidad and Tobago seeking clarity from US over effects of Venezuelan oil licence cancellations
Trinidad and Tobago is seeking clarity from the Trump administration after the recent cancellation of US oil licences for Venezuela, as the Caribbean nation's cross-border gas projects might be in jeopardy.
TDI-Brooks advances gas development in joint Trinidad and Tobago and Venezuela project
Trinidad and Tobago and Venezuela have advanced their joint gas development plans, with TDI-Brooks completing a significant offshore geotechnical investigation between Venezuela's Dragon Field and Trinidad's Hibiscus platform.
TotalEnergies completes delivery of floating vessel for Suriname offshore project
TotalEnergies announced the successful delivery of the Multipurpose Floater C Fast4Ward hull for Suriname's GranMorgu offshore development.
Local business involvement in Guyana's oil and gas sector skyrockets
Guyana's local businesses have achieved complete penetration in several key oil and gas service areas, marking significant progress in the country's local content development.
Argentine FDI slumped in Q3 2024 compared to previous year
Argentina's Foreign Direct Investment (FDI) reached $2.395bn in the third quarter of 2024, showing improvement from the previous quarter but a substantial 64% y/y contraction, according to a Central Bank (BCRA) report.
Delcy Rodríguez slams US revocation of Chevron licences, calls move harmful to Venezuela
Venezuela’s Minister of Oil, Delcy Rodríguez, condemned the recent decision by the Donald Trump administration to revoke oil export licenses granted to Venezuela by the Biden administration in 2022
Trump's 10% oil tariff could cost foreign producers $10bn annually
Brazil's transport sector moves toward decarbonisation
Transport accounts for 13% of Brazil’s greenhouse gas emissions, driving investment in electric vehicles and biofuels as decarbonisation efforts advance.
Fitch affirms Hunt Oil Peru at 'BBB' on solid financial profile
Trump’s chaotic Venezuela policy takes major twist with revocation of Chevron’s licence
US President Donald Trump has said he will rescind Chevron's licence to operate in Venezuela, a move that would upend previous concessions to Venezuela made under the Biden administration.
Colombia's Ecopetrol expands gas imports amid domestic shortfall
Colombia's state-controlled oil company, Ecopetrol, is accelerating plans to import gas as the Latin American country faces declining reserves and rising domestic shortages.
Brazil’s aims to give green spin to BRICS presidency as global climate clouds mount
Energy security and the energy transition are complementary rather than contradictory, according to a Brazilian official, speaking to reporters in Brasilia after an energy meeting by the BRICS group of countries
Brazil’s Brava Energia, PetroReconcavo agree on new pricing for Potiguar crude oil
Brava Energia has signed an addendum to its contracts for purchasing crude oil produced by PetroReconcavo in the Potiguar Basin, establishing new pricing and volume criteria for a 24-month period beginning February 2025
Brazil’s Petrobras, shipyards ink deal for four vessels worth $278mn
Petrobras’ subsidiary Transpetro has signed a contract with a consortium of Rio Grande and Mac Laren shipyards for four handy class vessels costing $69.5mn each.
Colombia's Helicol to commence operations with Ecopetrol in March
Helicol is set to commence helicopter transport services for Ecopetrol from March 1, following the successful arrival of its aircraft in Colombia, the company announced.
Pemex receives $112.7bn in government support since 2013
Mexican state oil company Pemex, one of the most indebted oil companies globally, has received more than MXN2.3tn ($112.7bn) in government support since 2013
Canada's Canacol Energy expands Colombia's investment despite declining gas output
Canacol Energy, a Canadian firm, has unveiled plans to elevate its 2025 capital expenditure to between $143mn and $160mn, surpassing the previous year's $123mn investment.
Banamex expects Mexico oil output to fall to 1979 levels by 2026
Mexico's oil production will drop to levels not seen since 1979, with output declining to 1.5 million barrels per day (bpd) in 2025 and further to 1.4mn bpd in 2026
Follow us online