LatAmOil - Latin America Oil & Gas
Chevron's final chartered tanker returns oil cargo as Venezuela exports declined
A Chevron-chartered tanker carrying nearly 300,000 barrels of Venezuelan crude began offloading its cargo back to state oil company PDVSA at the Amuay Terminal on May 1.
Mexico bets on new contract model to lift gas output to 142mn cubic metres per day
Mexico's ambitious push to raise domestic gas production to 142mn cubic metres per day by 2030 hinges on a new shared participation model designed to attract private investment, with four strategic gas fields prioritised for development
Argentina sees energy boom lifting trade surplus to $8bn in 2025
Argentina's energy sector is poised for substantial growth, with the country expecting to achieve an $8bn trade surplus in 2025, up from $5.7bn last year.
Argentina's Vaca Muerta achieves record fracturing in April
Vaca Muerta's unconventional oil and gas activity reached a new milestone in April, with a record-breaking 2,214 fracturing stages completed in the Neuquén formation, according to data released by NCS Multistage's country manager Luciano Fucello.
Karoon Energy locks in FPSO deal for Santos Basin field in Brazil
Karoon Energy, an oil and gas exploration and production company, has finalised the acquisition of the FPSO Cidade de Itajaí from Altera & Ocyan for $115mn, with an additional $8mn in transaction costs.
Diesel deals push Brazil closer to Russia
Brazil’s strategic partnership with Russia has strengthened significantly since the start of Moscow’s full-scale invasion of Ukraine primarily due to Russia's cheap fuel supply, Ukrainian Ambassador to Brazil Andrii Melnyk told RBC-Ukraine.
TotalEnergies to drill new exploration well in Suriname's Block 64
TotalEnergies is set to begin its exploratory drilling of the Macaw-1 exploration well in Suriname's Block 64 by mid-May 2025, marking the first of five offshore exploration wells planned in the country this year, according to Staatsolie.
Shell reportedly eyes BP takeover in $300bn tie-up
While Shell is on an upward trajectory, BP’s disappointing share performance has fuelled speculation that it could be targeted for takeover.
Norway’s DOF secures additional vessel contracts for Brazil operations
DOF Group has obtained new work commitments for two of its subsea vessels in Brazilian waters.
Guyana's oil exports to triple by 2030, S&P projects
Guyana's oil exports appear set to experience a significant medium- to long-term growth, with annual values projected to triple from US$11bn in 2023 to US$33bn by 2030.
Brazil’s Petrobras Q1 output rises 5.4% to 2.8mn barrels
Petrobras achieved average oil, liquefied natural gas (LNG) and natural gas production of 2.77mn barrels of oil equivalent per day (boed) in the first quarter of 2025, up 5.4% quarter on quarter.
Golar LNG approves Argentina FLNG project to tap Vaca Muerta gas
Golar LNG has announced the FID for the 20-year re-deployment charter of its FLNG Hilli Episeyo vessel to Southern Energy S.A. offshore Argentina, marking a significant step in monetising Argentina's vast Vaca Muerta shale gas resources.
Norway’s BW Energy commits $1.5bn to Brazil's Maromba field development
Norwegian operator BW Energy has taken the final investment decision (FID) for its $1.5bn Maromba field development offshore Brazil, aiming to more than double the company's total production by 2028
Norway’s Equinor sells Peregrino field in Brazil to PRIO for $3.5bn
Equinor has agreed to sell its 60% operated interest in Brazil's Peregrino oil field to local producer PRIO for $3.5bn.
Brazil slashes energy transition budget by 83% as fossil fuel focus remains
Brazil's spending on energy transition initiatives plummeted by 83% in 2024, while funding for fossil fuel incentives remained unchanged, according to a report by the Institute of Socioeconomic Studies (Inesc)
Brazil’s Petrobras begins operations at second natural gas processing module in Rio
Petrobras has started commercial operations at the second module of its Natural Gas Processing Unit (UPGN) at the Boaventura Energy Complex in Itaboraí, Rio de Janeiro state,
Brazil’s Petrobras seeks approval to move drill ship to Amazon Basin
Petrobras has asked Brazil's environmental regulator Ibama for authorisation to relocate the ODN II drill ship to the Foz do Amazonas Basin along the Equatorial Margin, a necessary step for conducting a Pre-Operational Assessment (APO)
Chevron's final chartered tanker began returning oil cargo in Venezuela
The vessel, Dubai Attraction, flagged under the Marshall Islands, had been bound for the United States before PDVSA ordered a reversal of shipments .
Venezuela's oil exports decline nearly 20% in April amid Chevron shipment cancellations
Venezuela’s oil exports saw a significant decline in April, dropping nearly 20% to an average of 700,000 barrels per day, the lowest level in nine months.
Subsea7 wins Brazil’s Petrobras gig worth over $1.25bn
Subsea7, a global subsea engineering and construction services firm serving the offshore energy industry, has been awarded a contract exceeding $1.25bn by Brazil’s Petrobras for work on the Búzios 11 deepwater field in the pre-salt Santos Basin.
Venezuela reaffirms claims over Essequibo as Guyana rejects negotiations
Venezuela reiterated that Guyana must engage in negotiations under the 1996 Geneva Agreement to resolve the longstanding border dispute over the Essequibo region, a territory of nearly 160,000 square kilometres rich in oil and natural resources.
Chevron CEO warns Venezuela exit as China, Russia poised to step In
Chevron CEO Mike Wirth has warned that the company may end its operations in Venezuela as its US licence nears expiry, raising concerns that rivals from China and Russia are poised to capitalise on any American withdrawal.
Trinidad and Tobago’s new PM looks to Venezuela, US for energy revival
Kamla Persad-Bissessar, recently elected Prime Minister of Trinidad and Tobago, signalled her intent to deepen ties with Venezuela in the energy sector.
Colombia's tax demand puts Ecopetrol's financial stability at risk
Ecopetrol, Colombia's state-controlled oil company, is confronting a significant financial challenge following a tax demand from the national tax authority, DIAN, amounting to COP 9.4 trillion (approximately $2.2bn) for value-added tax (VAT)
Colombia's Ecopetrol faces $2.2bn tax demand amid fiscal pressures
Colombia's tax authority, DIAN, has issued a significant tax demand to state-controlled oil company Ecopetrol, requiring payment of approximately $2.19bn (COP 9.4trillion) for value-added tax (VAT) on fuel imports from 2022 to 2024.
Venezuela seeks boost in Chinese oil purchases ahead of US exit deadline
Venezuela urged China to ramp up oil purchases and assist with diluent supplies as the country prepares for the forced withdrawal of Chevron and other foreign energy firms under renewed US sanctions
Oil drops, Brazil’s Petrobras cuts diesel
Hess releases Q1 financial results, revealing Guyana production
Hess Corp. reported $559mn in adjusted net income for Q1 2025, representing a 42% drop compared to the same period last year.
ExxonMobil, Chevron's arbitration date over Hess acquisition with Guyana at the forefront set for May 26
ExxonMobil and Chevron's arbitration over the latter's proposed $53bn acquisition of Hess is scheduled for 26 May, Reuters reported, citing sources familiar with the matter.
Golar LNG makes FID for Argentine floating LNG vessel
Golar LNG has confirmed the final investment decision for the 20-year re-deployment charter of the floating LNG vessel Hilli Episeyo off Argentina's coast.
Pan American Energy makes FID on landmark Argentine LNG export project
Pan American Energy and partners have reached the final investment decision for the Southern Energy floating liquefied natural gas export project in Argentina.
Guyana introduces oil pollution bill to ensure accountability
Guyana's government has introduced a comprehensive oil pollution bill to Parliament that would hold responsible parties liable for damages caused by oil spills, including those from vessels.
OPEC+ members agree to add to production levels
A core group within the OPEC+ alliance has pressed ahead with plans to increase crude oil production for a third consecutive month
Argentina LNG deal signals energy shift near Brazil
Pan-American Energy and partners Pampa Energía, Harbour Energy, YPF and Golar LNG have approved the final investment decision (FID) for Argentina’s Southern Energy FLNG export project.
ExxonMobil Guyana to relinquish at least 9% share in Stabroek Block
ExxonMobil will relinquish at least 9% of Guyana's prolific Stabroek Block as required by its petroleum agreement, the Ministry of Natural Resources confirmed.
Latam Geopark taps former Colombia's Ecopetrol chief as new executive leader
Former Ecopetrol head Felipe Bayon will take the helm at Latin American energy firm Geopark as chief executive officer starting 1 June.
Colombian oil group urges action amid dwindling reserves
The Colombian Association of Petroleum, Gas and Energy Service Companies (Campetrol) has proposed several urgent measures to address the nation's declining exploration and production activities in the oil and gas sector.
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