LatAmOil - Latin America Oil & Gas

14 March 2025

President Noboa's plan to revitalise Ecuador's largest oil field failing ahead of election

13 March 2025

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

13 March 2025

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

13 March 2025

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

13 March 2025

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

13 March 2025

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

13 March 2025

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

13 March 2025

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

13 March 2025

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

13 March 2025

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

13 March 2025

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

12 March 2025

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

12 March 2025

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

12 March 2025

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

12 March 2025

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

12 March 2025

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

12 March 2025

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

12 March 2025

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?

12 March 2025

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.

GECF bullish on natural gas as "integral" to energy mix for decades to come

11 March 2025

“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

11 March 2025

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

11 March 2025

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

11 March 2025

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

11 March 2025

“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

11 March 2025

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

11 March 2025

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

11 March 2025

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

11 March 2025

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

11 March 2025

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

11 March 2025

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

11 March 2025

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

10 March 2025

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

10 March 2025

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

10 March 2025

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

10 March 2025

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

7 March 2025

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

7 March 2025

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

7 March 2025

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

7 March 2025

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

7 March 2025

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

7 March 2025

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

7 March 2025

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.