LatAmOil - Latin America Oil & Gas
President Noboa's plan to revitalise Ecuador's largest oil field failing ahead of election
Ecuador President Daniel Noboa's ambitious plan to revitalise the country's largest oil field appears to be unravelling as he navigates a challenging re-election campaign ahead of a runoff vote on April 13.
Guyana seeks to export crude to United States
Guyana is exploring a new approach to its rapidly growing oil sector, with plans to potentially export crude to the United States for refining and reimport refined fuel products, President Irfaan Ali announced at Houston's CERAWeek conference.
Shell and Chevron join Argentine Vaca Muerta oil consortium
Shell Argentina and Chevron Argentina have joined the Vaca Muerta Sur (VMOS) project as new shareholders, expanding the consortium behind what is being called “the most important oil transport infrastructure project of the last decades.”
Guyana seeks peaceful resolution to Venezuela border spat
President Irfaan Ali of Guyana expressed his desire to reach a peaceful resolution in the ongoing border dispute with Venezuela over the oil-rich Essequibo region ahead of an anticipated ruling from the ICJ.
Maduro threatens action over Guyana’s oil in disputed Essequibo, but investment unabated
Venezuela’s Nicolás Maduro warned that his government would take decisive measures to address what he described as an "illegal action" by Guyana in a maritime area he claims remains "pending international delimitation".
Longtail becoming ExxonMobil's largest Guyanese oil and gas project, EPA consultations start
ExxonMobil's eighth offshore Guyana project is set to become the consortium's largest gas development in the prolific Stabroek Block, according to environmental authorisation documents published by the Guyanese government.
Chevron seeks alternatives to Venezuelan oil, Maduro regime slams ExxonMobil for alleged meddling
Chevron is exploring options to replace Venezuelan crude at its refineries, looking to Mexico, Brazil, and the Middle East for alternative supplies and the Maduro regime slams ExxonMobil for alleged meddling
Brazilian refinery completes test to produce fuel from eucalyptus
Brazil’s national oil company (NOC) Petrobras-controlled Riograndense refinery has successfully completed tests to produce fuels from eucalyptus biomass in Brazil's southern Rio Grande do Sul state
Petro-Victory and BlueOak to acquire Brazilian oil producer for $17.5mn
Petro-Victory Energy and BlueOak Investments have signed an agreement to acquire Brazilian onshore oil producer Capixaba Energia LTDA for $17.5mn, including earn-outs
Brazil unveils vision for COP30 amid criticism over fossil fuel stance
Brazil unveiled this week its plans for the UN’s climate summit COP30 in November, a move welcomed by climate activists who however criticised the presidency's letter for ignoring fossil fuels' primary role in global warming
ExxonMobil Guyana enters environmental consultations with EPA over major offshore projects
Guyana’s Environmental Protection Agency has announced a series of public consultations for ExxonMobil Guyana’s proposed Longtail and Hammerhead offshore oil projects, marking the next phase in the country's rapidly expanding petroleum sector.
Brazil’s Petrobras confirms significant gas potential offshore Colombia
Brazil’s national oil company Petrobras and its Colombian peer Ecopetrol said they have completed a drill stem test that confirms substantial natural gas resources in Colombia's offshore waters
Longtail to become ExxonMobil's largest oil and gas project in Guyana
ExxonMobil's eighth offshore Guyana project is set to become the consortium's largest natural gas development in the prolific Stabroek Block, according to environmental authorisation documents published by the Guyanese government.
International oil investment boosts Guyana's local employment
Guyana's oil sector is continuing to boost employment in the South American country, with foreign direct investment driving job creation and local business participation across multiple sectors.
Argentina's YPF reports record shale production in Q4 earnings call
Argentina's national oil company, YPF, reported record shale oil production in its Q4 2024 earnings call, cementing its position as a key player in the development of the Vaca Muerta formation.
Pampa Energía achieves record gas production thanks to Argentine projects
Pampa Energía has achieved record gas production while advancing its oil development projects in Argentina's prolific Vaca Muerta formation, positioning itself as a dominant player in the country's energy sector.
Argentine oil and grain unions announce nationwide strikes
Argentina's oil and grain export sectors face significant disruption as key unions have announced a nationwide strike, affecting all oil plants and ports across the country.
COMMENT: Chevron’s Venezuela licence is gone. What happens next?
Trump's shock termination of Chevron's Venezuela licence threatens to destabilise an already fragile economy. The move could trigger currency collapse, disrupt global oil markets, and push more Venezuelans into exile.
Mexico solves oil salt content issues, claims president
GECF bullish on natural gas as "integral" to energy mix for decades to come
“We are convinced now more than ever that natural gas is not just a bridge to the future. It is an integral part of the future,” GECF Secretary General Mohamed Hamel said.
Trump administration moves to tighten sanctions on Venezuela
The Trump administration is preparing to ramp up pressure on Nicolás Maduro by forcing more foreign companies to cease operations in Venezuela, following an order for Chevron Corp. to exit the country
Gold Reserve’s subsidiary submits bid in Venezuela’s Citgo auction
Canadian mining firm Gold Reserve announced this week that its Delaware-based subsidiary, Dalinar Energy, has lodged a bid that could be selected as the opening offer in a court-supervised auction for shares in Citgo Petroleum’s parent company
Venezuela’s vice president accuses ExxonMobil of lobbying for sanctions
Venezuelan Vice President Delcy Rodríguez has accused ExxonMobil of lobbying for tougher US sanctions and warned that the oil giant would be responsible if harm comes to any senior official in Nicolás Maduro’s regime
Maduro vows Venezuela’s oil production will not decline despite US ending Chevron licence
“Not a single litre or barrel of production will fall; on the contrary, oil production will continue to grow,” Maduro declared
Brazil’s Petrobras agrees to $283mn settlement in EIG legal dispute
Brazil’s national oil company (NOC) Petrobras has approved a settlement agreement to resolve a US court dispute with EIG Energy Fund XIV, which includes a $283mn payment from the Brazilian company.
Guyana to engage with ExxonMobil over contested expenses
Guyana's Natural Resources ministry has instructed the country's tax authority to initiate dispute resolution proceedings with ExxonMobil over $214mn in contested expenses claimed by the oil giant.
Ecuador presidential candidate Luisa Gonzalez seeks to revoke Sacha oil field concession
Ecuadorian presidential candidate Luisa Gonzalez pledged to revoke the controversial Sacha Field concession granted by President Daniel Noboa to Amodaimi-Oil Company S.L. just weeks before the end of his administration.
Venezuela faces economic strain as Chevron exits, Maduro unveils new plan
Following the confirmation of Chevron’s departure from Venezuela, Nicolás Maduro has introduced the Plan for Absolute Productive Independence, a new initiative aimed at addressing the fiscal challenges faced by the country
Chevron not required to sell Venezuelan assets but faces prohibition on active operations
Chevron will not be required to divest its holdings in Venezuela, following the issuance of General Licence 41A by the US Treasury Department, but it must halt operations in the country by April 2025
Venezuelan official accuses Trump of using Citgo bond renewal as political leverage
Venezuela's Vice Minister of Anti-Blockade Policies William Castillo has accused Donald Trump of orchestrating an international pressure campaign to advance US interests, pointing to Washington’s latest decision regarding Citgo’s 2020 bonds
Venezuela opposition-Maduro negotiations in focus after Trump’s Chevron move
Analysts suggest that Chevron’s licence revocation by the Trump administration could create an opening for renewed negotiations between the opposition and the Maduro regime, with the US playing a central role
Brazil's Petrobras confirms significant gas potential in Colombian waters
Brazilian energy company Petrobras has reported positive outcomes from a drill stem test (DST) conducted at the Sirius-2 well, located offshore Colombia, indicating substantial natural gas potential in the region.
Colombia's Ecopetrol strengthens reserves with strategic acquisitions amidst output gains
Ecopetrol ended 2024 with 1.89 bn barrels of oil equivalent (boe) in proven (1P) reserves, replacing 104% of its production.
Ecuador transfers operations of oil field to Chinese and Canadian consortium
Ecuador announced that it is transferring operations of the country's most productive field, Sacha, from national oil company Petroecuador to a consortium led by China's Sinopec and Canada's Petrolia under a production-sharing contract.
EnerMech to do pre-commissioning work on ONE Guyana FPSO
EnerMech has won a pre-commissioning contract for the ONE Guyana FPSO from SBM Offshore's Guyana subsidiary, extending the energy services firm's involvement in Guyana's rapidly expanding offshore oil sector.
Colombia's Ecopetrol's 2024 profit decline amid energy transition
Colombia's state-controlled oil company, Ecopetrol, announced a 21.7% decrease in net profit for 2024, totalling $3.8bn.
Mexico has contingency plans if Trump uses gas as 'weapon' in talks: Energy Ministry
Mexico has prepared contingency plans to prevent blackouts should US President Donald Trump use Mexico's high dependence on American natural gas as a negotiating weapon
Colombia's Ecopetrol accelerates renewable energy expansion with 2 GW acquisition plan
Ecopetrol, Colombia's state-controlled oil giant, is advancing its renewable energy ambitions by initiating the acquisition of approximately 2 gigawatts (GW) of renewable energy projects, primarily in wind and solar sectors.
Trump extends Chevron’s Venezuela exit deadline to April
The order mandates the closure of the company’s operations in the country, including its joint ventures with state oil firm PDVSA and any entity in which PDVSA holds a stake of at least 50%
Colombia's Ecopetrol enhances regasification capacity amid impending gas shortfall
Colombia's state-owned oil and gas company, Ecopetrol, has awarded a contract to local firm Puertos, Inversiones y Obras (PIO) to deliver regasification services along the nation's Pacific Coast.
Maduro threatens action over Guyana’s alleged oil exploitation in disputed waters
Venezuela’s Nicolás Maduro warned that his government would take decisive measures to address what he described as an "illegal action" by Guyana in a maritime area he claims remains "pending international delimitation."
Maduro pledges to expand Venezuela’s oil production despite Chevron licence revocation
Venezuela’s Nicolas Maduro denounced Washington’s directive for Chevron to cease its activities in the country within a month, branding the move as detrimental to both nations.
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