LatAmOil - Latin America Oil & Gas
ExxonMobil Guyana to raise oil output to more than 2.2mn barrels per day
ExxonMobil's Guyana operations are poised to reach a production capacity of nearly 2.2mn barrels of oil equivalent per day by 2030, representing one of the most rapid petroleum development stories in recent history.
Sheinbaum revamps Pemex to tighten state control, Slim negotiates
In a significant shift for Mexico's energy sector, Petróleos Mexicanos (Pemex) has begun a comprehensive restructuring process following President Claudia Sheinbaum's signing of new energy legislation.
Fitch revises outlook for Colombian energy firms
Fitch Ratings has revised the outlook for several Colombian energy companies from stable to negative, following a recent adjustment to Colombia's sovereign rating.
PDVSA prepares contingency plan as Chevron licence nears expiry
Venezuela’s state-run oil company PDVSA has drafted multiple operational strategies to sustain crude output and exports at its largest project with Chevron once the US firm’s licence expires next month
UK STRYDE seismic technology enters Latin American market with EGS acquisition
STRYDE, a leader in onshore nodal seismic technology, has achieved a significant milestone by securing its inaugural sale of the Mini Seismic System in Latin America to Colombia's Energy Geophysical Services SAS (EGS).
Chevron’s exit deals blow to Venezuela’s oil sector and economy
The company faces an abrupt departure after the US Treasury revoked its special licence, a move analysts say could significantly impact Venezuela’s already fragile economy.
Sheinbaum restructures Pemex to tighten state control
In a significant shift for Mexico's energy sector, Petróleos Mexicanos (Pemex) has begun a comprehensive restructuring process following President Claudia Sheinbaum's signing of new energy legislation.
Petrobras signs contracts to tackle pre-salt pipe corrosion issue
Brazil’s national oil company Petrobras has contracted subsea engineering firms Baker Hughes and NOV Flexibles to fix problems related to corrosion.
Petroecuador declares pipeline emergency following rupture
Petroecuador has declared a 60-day emergency for its Trans-Ecuadorian Pipeline System (SOTE) following a pipeline rupture triggered by a landslide amid heavy rains.
Petrobras finds hydrocarbons in exploratory well at Brazil's Aram pre-salt block
Petrobras has identified hydrocarbons while drilling an exploratory well in the pre-salt Santos Basin, marking its latest discovery in the prolific offshore region.
Mexican president to issue energy reform laws
Venezuelans criticise Chevron exit, warn of mafia takeover in oil sector
Henrique Capriles, the former governor of Miranda state, criticised the recent revocation of Chevron's operating licence in Venezuela, describing the move as "bad news" for the nation’s already fragile economy.
Venezuela’s oil production dips amid sanctions and Chevron exit
Venezuela's oil production declined by 6,000 barrels per day (bpd) in February, according to government data published by the Organisation of the Petroleum Exporting Countries (OPEC)
ExxonMobil Guyana to raise oil output to more than 2.2mn barrels per day
ExxonMobil's Guyana operations are poised to reach a production capacity of nearly 2.2mn barrels of oil equivalent per day (bpd) by 2030, representing one of the most rapid petroleum development stories in recent history.
Guyana seeks partnership with Suriname to develop gas-powered industrial hub
Guyana's President Irfaan Ali is seeking a partnership with Suriname to develop a gas-powered industrial hub on South America's north coast, aiming to diversify an economy heavily dependent on oil revenues.
Ecuadorian wildlife refuge contaminated by oil spill
Ecuador's Manglares Estuario Río Esmeraldas wildlife refuge has been contaminated by an oil spill that occurred in Esmeraldas province, according to a report from the Ministry of Environment, Water and Ecological Transition.
Petronas mulling Argentine Vaca Muerta withdrawal
Petronas may be exiting Argentina's Vaca Muerta shale play, with the Malaysian national oil company launching a process to sell its 50% stake in the La Amarga Chica joint venture with YPF.
Colombia's offshore gas ambitions: Petrobras and Ecopetrol's strategic venture
Colombia is poised to significantly bolster its natural gas reserves through a collaborative offshore project between Brazil's Petrobras and Colombia's Ecopetrol.
UK STRYDE's mini seismic system enters Latin American market: Colombia key role
STRYDE, a leader in onshore nodal seismic technology, has announced the sale of its Mini Seismic System to Colombia's Energy Geophysical Services SAS (EGS), marking its first entry into the Latin American market.
YPF to join stimulus programme to boost funding for Vaca Muerta pipeline
Argentina has granted national oil company YPF access to a key government stimulus program to support the development of a major pipeline project from the Vaca Muerta shale formation to a port in Rio Negro Province.
Guyana threatens action against residents who support Venezuelan Essequibo election
Venezuela's plans to elect a governor for the disputed Essequibo region have sparked a stern warning from Guyana, with the government threatening treason charges against any residents who support the Venezuelan electoral process.
Guyana revokes Frontera-CGX oil prospecting licence
Guyana has officially revoked the oil prospecting licence for the Corentyne block from the Frontera-CGX joint venture.
ABS awards notation to Guyanese FPSO for sustainability
The FPSO Liza Unity, operated by SBM Offshore, has been awarded the SUSTAIN-2 notation by the American Bureau of Shipping, marking a significant achievement in maritime sustainability standards.
Ecuador's oil future at a crossroads as presidential candidates seek divergent paths
Ecuador President Daniel Noboa's plan to revitalise the country's largest oil field appears to be unravelling amid his challenging re-election campaign ahead of the April 13 runoff vote.
International interest in Argentina's oil assets on the rise as Chevron and Shell boost involvement
Shell and Chevron have joined the Vaca Muerta Sur project as new shareholders, expanding the consortium behind what's been described as “the most important oil transport infrastructure project of the last decades."
Petrobras begins talks on long-term LNG deal with US suppliers
Brazil’s state-owned Petrobras is in the midst of discussions with US LNG suppliers on a long-term import agreement.
Venezuela’s federation of chambers and businesses stands by Maduro’s economic strategy amid Chevron exit
Venezuela’s Federation of Chambers and Businesses (Fedeindustria) reiterated its commitment to driving the nation’s economic development, with its president, Orlando Camacho, securing another term for 2026-2028.
Venezuela’s Maduro escalates attacks on Exxon amid Guyana oil dispute
Venezuela’s government continues to target Exxon Mobil, accusing the US energy giant of fuelling diplomatic tensions with Guyana over the disputed Essequibo region.
Venezuelan opposition unveils energy plan to attract global investors
Venezuela’s opposition has outlined an ambitious plan to privatise the country’s oil industry, aiming to boost production beyond 3mn barrels per day and transform Venezuela into the “energy hub of the Americas”
Venezuela to resume US deportation flights amid Chevron dispute
Venezuela has agreed to restart deportation flights for its citizens following a brief suspension in response to the Trump administration’s decision to revoke Chevron’s operating license in the country.
Guyana expels 75 Venezuelans from disputed oil region amid escalating tensions
The Essequibo region, which is rich in oil resources, has been a flashpoint between Venezuela and Guyana for decades. Since ExxonMobil’s discovery of substantial crude reserves there in 2015, tensions have grown sharper
Chevron seeks alternatives to Venezuelan oil from Latin America and the Middle East
Chevron Corp. is exploring alternatives to replace Venezuelan crude at its refineries, with a focus on oil from Mexico, Brazil, and the Middle East.
Colombia's Ecopetrol Cartagena refinery faces power supply challenges
Ecopetrol's Cartagena Refinery (Reficar) has been experiencing power outages due to design flaws in its electrical substation. To address this issue and ensure uninterrupted fuel supply, Ecopetrol has initiated a comprehensive 15-step action plan.
YPF to divest from offshore Argentine assets to focus on Vaca Muerta
Argentina's national oil company YPF is accelerating its divestiture plans, aiming to offload controlling stakes in offshore exploration projects in Argentina and Uruguay.
Venezuela's Citgo reports $146mn Q4 loss following declining refining margins
The company, in its latest financial report, attributed the decline in part to scheduled maintenance during the second quarter, which disrupted output at a time of already challenging market conditions
Maduro invites global investment in Venezuela’s energy sector
With vast reserves of oil and gas, Maduro insisted that Venezuela has the resources and expertise to drive forward economic expansion despite international sanctions
Venezuelan opposition proposes energy reform to attract international investment
The move comes at a time when opposition leaders see an opportunity to exert pressure on Nicolás Maduro’s regime, especially after US President Donald Trump’s administration revoked Chevron’s licence to operate in Venezuela
Venezuela’s parliament condemn ExxonMobil’s alleged lobbying campaign
Lawmakers accused the US energy giant of conspiring against Venezuela in coordination with Guyana’s government, citing concerns over sovereignty and foreign interference
Venezuela’s business sector warns of severe economic impact following suspension of Chevron’s licence
As the oil industry remains one of Venezuela’s primary sources of foreign currency, the termination of the licence is expected to dampen economic growth projections and affect a wide range of businesses
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