LatAmOil - Latin America Oil & Gas
Brazil’s Petrobras cuts diesel prices again
Brazil's MGas taps Argentina gas
MGas, a natural gas trader in Brazil’s free market controlled by J&F Investimentos, has initiated imports of Argentine gas via the Bolivia-Brazil pipeline, the company said.
Mexico suspends Valero fuel import permits
Mexican tax authority SAT suspended US refiner Valero's fuel import permits on April 9, the company said, Argus Media reported on April 11.
Mexico halts US fuel imports by truck in illegal sales crackdown
Mexico temporarily suspended fuel imports from the United States by truck as it steps up permit inspections to combat illegal fuel trades.
Mexico's Pemex road fuel inventories fell 17% in March compared with a year earlier
Pemex's road fuel inventories declined 17% year-on-year in March, driven by lower regular and premium petrol stocks.
Brazil’s first FPSO dismantling faces year-long delay amid dispute
The first-ever dismantling of an oil production vessel in Brazil is running at least a year behind schedule due to a dispute between national oil company Petrobras and steelmaker Gerdau over handling petroleum residues.
South America’s crude exporters hit by oil price drop
Latin American oil exporters are facing fiscal strain as geopolitics pushes down prices.
Venezuela cancels Chevron crude shipments amid sanctions turmoil
Chevron has returned several crude shipments to Venezuela’s state-run oil company PDVSA, citing the company’s inability to process payments due to the latest round of restrictions.
Colombia considers long-term gas import contracts amid trade deficit
Colombia is evaluating the implementation of multi-year natural gas import agreements to address a projected supply shortfall and stabilise domestic prices.
Sahara Group signs 20-year deal with Amigo LNG for Mexican exports
International energy and infrastructure giant Sahara Group has signed a 20-year LNG Sales and Purchase Agreement with Amigo LNG S.A. de C.V., the Mexican arm of Singapore-based LNG Alliance, the company announced in a press release on April 16.
Venezuelan oil exports to tighten sharply after PDVSA revokes Chevron shipments
Venezuelan crude supply is poised to contract faster than expected after state-owned oil firm PDVSA abruptly withdrew loading clearances for multiple Chevron-chartered tankers, according to data intelligence provider Kpler.
BW Energy bets on Golfinho Boost project offshore Brazil
BW Energy has approved the final investment decision for the Golfinho Boost project offshore Brazil, aimed at increasing production and lowering operating costs.
Brazil’s Petrobras eyes still on Foz do Amazonas basin
Brazil’s National Petroleum Agency has confirmed the 16 blocks that will be included in the 5th Cycle of the Permanent Concession Offer, scheduled for auction on June 17.
Hess confirms potential for up to 10 FPSOs offshore Guyana
Hess Corporation's 2024 annual report has confirmed the potential for up to 10 FPSOs in Guyana's offshore oil developments, underscoring the extraordinary scale of ExxonMobil's operations in the South American nation.
Pan American Energy discovers shale gas in Argentina's Chubut Province
Pan American Energy has discovered shale gas in Chubut Province's Cerro Dragón field, prompting plans to invest $250mn in its exploitation, according to Governor Ignacio Torres.
Brazil’s Brava Energia oil field expands with two additional wells connected to FPSO
Brazilian energy company Brava Energia has successfully connected two additional wells to the floating, production, storage and offloading (FPSO) vessel Atlanta operating at the Atlanta field off the Brazilian coast
Brazil to auction disputed Amazon oil blocks despite environmental opposition
Brazil's oil regulator has scheduled a June 17 auction for drilling rights in areas facing significant environmental resistance, including 47 blocks in the Fox do Amazonas region where Petrobras has been unable to secure drilling approval.
TotalEnergies agrees to 15-year Dominican LNG deal with ENADOM
French energy giant TotalEnergies has signed a heads of agreement with Energia Natural Dominicana that will see the company supply the joint venture between AES Dominicana and Energas with 400,000 tonnes per year of LNG.
Eni signs MoU with YPF on Argentina LNG project
Italian energy firm Eni has signed a memorandum of understanding with Argentina’s state-run energy company YPF to assess partnering in the country’s flagship Argentina LNG project.
Venezuela’s economic fragility resurfaces as sanctions hit oil revenue
Venezuela’s brief spell of economic respite is fast eroding as renewed US sanctions batter oil revenues, with President Nicolás Maduro’s government left with little room to manoeuvre amid a worsening macroeconomic backdrop, EFE reported
PDVSA unit powers ahead with key refining infrastructure for Venezuela's Orinoco Oil Belt
Venezuelan Heavy Industries, CA (Vhicoa), a subsidiary of state-owned oil company PDVSA, is advancing Venezuela’s energy infrastructure with the construction of two massive crude desalination plants
US tariffs to stall Venezuela’s non-oil exports as trade dynamics shift
Newly imposed reciprocal tariffs by the Trump administration are expected to dampen Venezuela’s non-oil export activity in the short term, adding pressure to an already fragile sector.
Chevron tankers laden with Venezuelan crude held amid sanctions dispute
The Carina Voyager, sailing under a Bahamian flag and operated by a Chevron subsidiary, began offloading at the PDVSA-controlled Jose terminal over the weekend, according to LSEG data.
Brazil’s cane crush shrinks, ethanol soars
Colombia's Ecopetrol faces profit squeeze amid oil price slump
Colombian state-controlled oil producer Ecopetrol anticipates a significant decline in annual earnings, potentially up to COP 12 trillion (approximately $2.8bn), due to falling crude prices.
Guyana's second gas project to power country's AI data centre
Guyana's first Artificial Intelligence Data Centre will be established in Berbice, powered by the nation's second gas development project, President Dr Irfaan Ali announced.
Colombia's Ecopetrol flags field closures as falling oil prices erode profitability
Ecopetrol is preparing to shut down higher-cost oil fields as tumbling international crude prices, driven by trade tensions stemming from US tariffs, strain the company’s finances.
US lifts board restrictions on Chevron and ExxonMobil acquisitions
The US Federal Trade Commission has initiated a process that could reverse restrictions preventing certain oil executives from joining the boards of Chevron and ExxonMobil, conditions that were imposed by the Biden administration.
YPF unveils five-year plan for Argentina's Vaca Muerta formation
YPF aims to reach 1mn barrel equivalent production by 2030, company President and CEO Horacio Marín announced during a strategic presentation at the New York Stock Exchange.
Mexico suspends Valero fuel import permits
Mexico's tax authority SAT suspended US refiner Valero's fuel import permits on April 9, the company said on April 11, Argus Media reported.
Petrobras extends Noble Discoverer contract in Colombia amid offshore gas expansion
Petrobras has extended its agreement with Noble Corporation for the Noble Discoverer semi-submersible rig, prolonging operations offshore Colombia by an additional 390 days.
Colombia considers long-term gas import contracts amid supply concerns
Colombia is evaluating the implementation of multi-year natural gas import agreements to address a projected supply shortfall and stabilise domestic prices.
Brazil plans extra offshore auction to boost revenue, Petrobras mulls Indian oil blocks
The Brazilian government is planning an extra auction this year of stakes in offshore oil areas to raise approximately BRL20bn ($3.4bn) in a "worst case" scenario, according to four sources familiar with the matter
Hess to relinquish 94% of undeveloped territory in Guyana and Suriname
Hess Corporation intends to relinquish 94% of its net undeveloped acreage, primarily in Guyana and Suriname, over the next three years, according to its 2024 annual report.
YPF expresses confidence in Argentina's energy market despite oil price slump
YPF CEO Horacio Marín has expressed confidence in Argentina's energy sector despite the recent downturn in global oil prices, saying that the company's operations in Vaca Muerta remain economically viable even at lower price points.
Managing methane emissions in the Trump era: interview
Beyond an earnest desire to minimise the environmental impact of operations, it also pays for investors to take the issue seriously, Clayton Nash, the director of emissions solutions at Colorado-based Tegre, tells Newsbase.
ExxonMobil begins new drilling operations in Guyana
ExxonMobil has begun appraisal drilling at the Barreleye-2 well in Guyana's prolific Stabroek Block, according to a notice from the country's Maritime Administration Department.
Arrow Exploration expands Colombian output with new horizontal wells
Canadian-based Arrow Exploration has reported a significant boost in its Colombian operations, with current production surpassing 4,500 barrels of oil equivalent per day (boe/d)
PDVSA halts Chevron shipments as US tariffs disrupt Venezuela oil trade
Venezuela’s state-run oil firm PDVSA has revoked multiple permits previously granted to Chevron for exporting crude, marking a significant shift in the country’s oil dealings with the United States
Chevron begins withdrawing from Venezuela as US sanctions deadline nears
Chevron has begun returning oil shipments to Venezuela’s state-owned producer PDVSA, according to Vice President Delcy Rodríguez, as tightening US restrictions complicate the company’s ability to continue operating in the country
Colombia faces fiscal strain amid oil price decline
Colombia's economy is confronting significant challenges due to a sharp decline in oil prices and a weakening peso. The benchmark Brent crude has fallen below $62 per barrel, a four-year low.
Colombian crude prices surge amid US tariff turmoil
Colombian heavy sour crude grades, notably Castilla and Vasconia, have experienced a significant narrowing in their discounts to ICE Brent, reaching levels not seen in over four years. This shift is attributed to the uncertainty US tariffs
Magda Chambriard stays on at Brazil’s Petrobras’ helm for two more years
Brazil’s Petrobras’ board has unanimously approved the reappointment of Magda Chambriard as chief executive, extending her mandate until April 2027.
Diesel price swings shake up Brazil imports
Volatile international diesel prices and a recent price cut by state-owned Petrobras have created new opportunities for fuel imports into Brazil, following a sharp drop in global commodity markets triggered by fresh US trade measures.
Brazil’s Petrobras pushes ahead on Tupi field
Brazil’s Petrobras is close to settling a long-standing tax dispute with Brazil’s oil regulator that would unlock investment plans for the Tupi deep-water field.
Colombia faces looming natural gas shortfall as self-sufficiency declines
Colombia’s domestic natural gas reserves may only last another six years unless exploration and production are rapidly scaled up.
Venezuelan oil shipments resume after US tariff disruptions
Venezuelan crude oil exports have resumed after a brief disruption caused by new US tariffs, with tankers once again loading at the country’s primary oil port.
US cancels Shell, BP licences for Venezuela and Trinidad offshore projects
In a significant setback for Trinidad and Tobago's energy ambitions, Prime Minister Stuart Young announced that the United States had revoked crucial OFAC licenses that enabled major cross-border natural gas developments with Venezuela.
Argentina's Vaca Muerta exports natural gas to Brazil via Bolivia in historic first
Argentina's Vaca Muerta shale gas has begun flowing to Brazil via Bolivian pipelines, marking a significant milestone in the country's energy export strategy.
Overseas companies seek to stay in Venezuela amidst US pressure
Spain is actively supporting energy giant Repsol in its efforts to maintain operations in Venezuela as the US moves to tighten restrictions on companies linked to the country’s oil sector, according to Economy Minister Carlos Cuerpo.
Venezuela’s oil sector navigates US sanctions, tariffs
Trump pauses tariffs for 90 days, Colombia still vulnerable
Although oil had been exempted from the 10% tariff on Colombia’s US imports, the Latin American country remains vulnerable.
Mexico explores fracking expansion to cut US gas dependence amidst tense trade relations
Mexico is considering boosting domestic fracking to cut its heavy reliance on US natural gas imports amid tense trade relations
Mexico cuts oil output target, Moodys weighs in on Pemex’ lack of investment
Mexico's finance ministry revised down the country's crude oil production target by 129,000 barrels per day (bpd).
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