LatAmOil - Latin America Oil & Gas
Brazil’s Petrobras output slips as Asia oil sales shift
Brazil’s Petrobras produced 2.77mn barrels of oil equivalent per day in the first quarter of 2025, down 0.2% year on year, the state-run company said in a press release.
Vaca Muerta governors seek fresh investments as Petronas exits
Regional governors from the Vaca Muerta shale field have travelled to Houston, Texas for the Offshore Technology Conference in early May to drum up business.
Petro-Victory closes Brazil oil deal
Petro-Victory Energy has completed the acquisition of Capixaba Energia, an oil and gas asset in Brazil’s Espírito Santo Basin, in partnership with BlueOak Investments, the company said in a press release.
Colombia's Ecopetrol secures $500mn Banco Santander loan amid strategic debt expansion
Colombia's state-run oil firm Ecopetrol has obtained approval from the Ministry of Finance and Public Credit to secure a $500mn loan from Banco Santander.
Colombia drives 65% revenue surge for Arrow Exploration in 2024
Arrow Exploration Corp has posted substantial growth across key financial metrics with a 65% revenue increase to $73.7mn for the full year 2024.
YPF drops fuel prices across Argentina
YPF, Argentina's state oil company, has announced a nationwide fuel price reduction averaging 4% effective from Thursday, May 1.
Archer renews contract with Pan American Energy for Argentine oil field services
Archer has secured a significant contract renewal with Pan American Energy (PAE) for oilfield services in southern Argentina, extending agreements for nine pulling units and eight workover units for three years with options for two additional years.
MODEC, Sumitomo agree on FPSO build for Brazil
MODEC has signed a contract with fellow Japanese firm Sumitomo Heavy Industries for the construction of the forward block of its next-generation hull for the Gato do Mato floating production, storage and offloading unit.
Capex SA signs exploration contract with Argentine province of Río Negro
The Río Negro government and Capex have finalised a contract for the exploration of the Cinco Saltos Norte hydrocarbon area, furthering efforts to assess the potential of the Vaca Muerta formation in the Río Negro section of the basin.
As Trinidad and Tobago faces Dragon gas setback, other projects could prop up gas sector
Trinidad and Tobago's gas sector faces a mixed outlook following the Trump administration's decision to halt the Dragon gas project due to its Venezuelan connections.
OPEC+'s rise in oil output could trigger sharp fall in oil prices in 2027-28: Alfa Bank
OPEC+'s plans to raise oil production amid the US’ new protectionist trade policies could lead to a sharp decline in Brent crude prices in 2027-2028.
Guyana forms small portion of ExxonMobil's portfolio despite rapid oil rise
Despite Guyana's rapid rise as an oil producer in ExxonMobil's global operations, the South American nation represents just 4.2% of the energy giant's total long-lived assets.
MODEC and Sumitomo partner to deliver Shell's FPSO unit for Brazil offshore project
MODEC has signed a contract with Sumitomo Heavy Industries for the delivery of the Gato do Mato floating production, storage and offloading unit for Shell's deepwater field offshore Brazil
Citigroup and JP Morgan tapped to finance loan for Argentine oil pipeline
A consortium led by Argentina's national oil company YPF SA is in advanced talks with five major banks to secure a $1.7bn loan for the crucial Vaca Muerta Sur pipeline project.
Guyana's oil production rises in March to wrap up strong Q1 performance
Guyana's offshore oil production averaged 627,000 bpd in March 2025, showing a slight decrease from February's 648,000 bpd, wrapping up a strong Q1 performance.
Cross-border oil smuggling reveals dark underbelly of US-Mexico trade nexus
A Utah couple stands accused of running one of the largest US-Mexico fuel smuggling schemes, allegedly moving 2,900 crude oil shipments worth $300mn—highlighting the deepening ties between white-collar and organised crime.
Shell exits Colombian offshore gas projects, marking departure of last major global oil company
Shell, the Anglo-Dutch energy giant, has announced its withdrawal from offshore gas exploration and production in Colombia, ending a five-year partnership with state-owned Ecopetrol.
Colombia seeks gas diversification with Qatar amid energy transition
Colombia is intensifying talks with Qatar to diversify its natural gas supplies as part of a broader energy strategy as Bogotá seeks to reduce its dependency on traditional suppliers and accelerate its transition towards renewables.
Chevron tankers left idle as PDVSA halts Venezuela crude shipments
Chevron Corp. has been forced to remarket several oil tankers originally designated for Venezuelan crude exports to the United States, after state-owned PDVSA revoked loading authorisations and ordered cargoes to be returned amid payment disputes
Venezuela’s economy shrinks in early 2025 as non-oil sector falters
Venezuela’s economic activity contracted by 2.7% in the first quarter of 2025 compared to the same period last year, driven largely by weakness in domestic consumption and a 5% decline in non-oil sectors
Citgo auction moves forward as US court sets June decision date
A US court has established the timeline for the sale of shares in the parent company of Citgo Petroleum, with a 30-day bidding window that opened on Monday, April 28.
Vitol accelerates Venezuelan oil shipments ahead of US sanctions deadline
Vitol Group has ramped up its procurement of Venezuelan crude in the closing stretch of a US authorisation allowing the energy trading giant to engage with the heavily sanctioned Latin American producer.
Brazil’s Brava names new offshore chief
Brazil’s Brava Energia has named Carlos José do Nascimento Travassos as its new Offshore Operations Officer.
Mexico reinstates Valero fuel import licence after suspension
Mexico has reinstated independent US refiner Valero Energy's fuel import licence following a suspension in early April, the company's chief operating officer Gary Simmons told analysts on April 24.
Argentina’s YPF dismisses building onshore LNG plant
State-owned YPF has poured cold water on the idea of constructing an onshore LNG facility near Argentina’s giant Vaca Muerta shale formation.
Venezuela says Chevron is operating within rules despite sanctions disruption
Venezuelan Vice President Delcy Rodríguez has pushed back against claims that state oil company PDVSA halted shipments to Chevron, calling the Reuters report a fabrication and defending the ongoing partnership with the US firm.
Shell's strategic exit from Colombian offshore ventures highlights sector challenges
British-Dutch multinational Shell has initiated the divestment of its 50% stake in the Fuerte Sur, Purple Angel, and COL-5 offshore gas blocks in Colombia's Caribbean region, a move attributed to strategic portfolio realignment.
Fuel shortages and poor planning ignite protests in Bolivia
While the government of President Luis Arce seeks to contain growing discontent, thousands of miners and agricultural workers have taken to the streets, demanding urgent structural reforms.
Colombia's GeoPark appoints former Ecopetrol CEO amid energy leadership reshuffle
GeoPark Ltd., a Colombian oil and gas firm, has named Felipe Bayón, former CEO of Ecopetrol, as its new chief executive and board member, effective June 1 2025.
Brazil’s Petrobras stock falls 15% in April but analysts maintain bullish outlook
Shares in Brazil’s national oil company (NOC) Petrobras have fallen more than 15% in April, but several leading investment banks are maintaining their buy recommendations, citing attractive dividend yields and valuation metrics
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