LatAmOil - Latin America Oil & Gas

Colombia's Ecopetrol uncovers internal data breaches amid chief executive's discrimination claims

Colombia's state-controlled oil producer has identified dozens of potential security protocol violations that may have compromised confidential corporate data.

Vista Argentina to boost oil production with fresh capital, Fitch projects

Vista Argentina is set to deploy $2.8bn in capital investments over the next three years, with Fitch Ratings projecting the spending will drive production growth in the company's oil operations.

Venezuela urges economic diversification amid oil reliance, vice president says

Venezuelan Vice President Delcy Rodríguez said the country’s economy expanded 9.32% in the first quarter of 2025, but warned that growth remains vulnerable due to continued dependence on oil, gas, and petrochemical revenues.

Venezuela’s oil exports hold steady as China offsets US sanction hit

Venezuelan oil shipments were largely flat in May, as increased flows to China helped offset the drop caused by the expiry of US authorisations that had previously allowed limited exports.

Exxon-led partnership earnings in Guyana rise 64% to $10.4bn

A partnership of ExxonMobil, Hess, and CNOOC operating in Guyana recorded a 64% jump in earnings for 2024, reaching $10.4bn.

Shell greenlights Aphrodite off Trinidad and Tobago

Shell Trinidad and Tobago Ltd has taken a final investment decision on the Aphrodite project, an undeveloped gas field in the East Coast Marine Area offshore Trinidad and Tobago. ECMA is a prolific gas-producing area.

Venezuela’s economy hit by Chevron’s licence expiration

President Nicolás Maduro recently downplayed the significance of US oil major Chevron’s recently expired US licence, asserting that Venezuela’s oil sector operates independently of foreign approvals.

Colombia's Ecopetrol sets up emergency cash committee, faces leadership crisis

Colombia's state-controlled oil company, Ecopetrol, has initiated a cash crisis committee in the midst of leadership questions

Brazil eyes oil cash to meet fiscal targets

Brazil’s government is seeking to raise $6.2bn from the oil sector over the next two years to help meet fiscal targets.

Brazil sets April oil output record

Brazil produced an average of 3.6mn barrels of oil per day in April, a 13.7% increase year-on-year, according to the National Petroleum Agency (ANP).

Colombia's oil and gas sector braces for $4.68bn investment despite output challenges

Colombia's hydrocarbon sector anticipates investment flows reaching $4.68bn in 2025, marking an 8% increase from the previous year's $4.33bn.

Moody’s cuts Petrobras outlook after Brazil rating shift

Moody’s has revised Petrobras’ global credit rating outlook from positive to stable, following a similar change to Brazil’s sovereign outlook.

Colombia's Ecopetrol establishes emergency cash committee amid mounting financial pressures

Colombia's state-controlled oil company, Ecopetrol, has initiated a 'Cash Crisis Committee' to address immediate financial obligations that threaten its liquidity.

Norway's Solstad gets green light for Brazil’s Petrobras AHTS contracts

Solstad Offshore has received final approvals for two anchor handling tug supply (AHTS) vessels contracted by Petrobras for operations offshore Brazil.

TotalEnergies increases operated stake in Brazil’s Lapa field

TotalEnergies has agreed to swap its 20% non-operated stake in the Gato do Mato project for an additional 3% interest in the Lapa offshore oil field, increasing its share in the producing asset to 48%.

Brazil’s Brava Energia hits output record on Atlanta boost

Brazil’s Brava Energia reported a record average production of 88.6 thousand barrels of oil equivalent per day (boe/d) in May 2025, up 8% from April, according to preliminary and unaudited data released to investors.

Brazil hits record in pre-salt output

Brazil set a new record in pre-salt oil and gas output in April 2025, reaching 3.734mn barrels of oil equivalent per day (boe/d), the national petroleum regulator ANP said.

Brazil eyes oil cash to plug budget gap

Brazil’s government is seeking to raise $6.2bn from the oil sector over the next two years to help meet fiscal targets, the energy ministry said.

Gas flaring in southeast Mexico linked to increased neonatal health risks

Gas flaring following oil refinement in southeast Mexico significantly increases risks of low birth scores, preterm births and congenital anomalies, according to a new study by CartoCrítica and the Mexican Center for Environmental Law (CEMDA).

New executive takes helm of Mexico's petroleum retailers association

Enrique Felix Robelo assumed the presidency of Mexico's petroleum retailers association the National Organisation of Oil Retailers (ONEXPO) for the 2025-2026 term during the ONEXPO 2025 conference in Riviera Maya.

Argentina's Vaca Muerta reaches record activity in May

Vaca Muerta, Argentina's massive unconventional hydrocarbon formation, set a new activity record in May with 2,214 fracture stages completed.

Paraguay and Argentina advance talks for major gas pipeline

Paraguay and Argentina have advanced discussions on a major bioceanic gas pipeline project following a high-level meeting in Buenos Aires between key energy officials from both countries.

Brazil’s Lula calls for global governance amid conflicts, defends Amazon oil plans

Brazilian President Luiz Inácio Lula da Silva has called for strengthened global governance to address mounting international conflicts, while defending plans for oil exploration near the Amazon Delta ahead of his state visit to France.

Arrow Exploration books 36% revenue jump as its Colombian output soars

Arrow Exploration Corp recorded a 36% surge in oil and gas revenues during the first quarter, driven by enhanced production across its Colombian hydrocarbon portfolio.

YPF to develop three wells in Argentina's Santa Cruz province

Argentine national oil company YPF has signed an agreement with Argentina's Santa Cruz province to develop three exploratory wells in 2025 within the Palermo Aike unconventional hydrocarbon formation.

Maduro dismisses US Chevron licence as irrelevant to Venezuela’s oil strategy

Nicolás Maduro downplayed the significance of Chevron’s recently expired US licence, asserting that Venezuela’s oil sector operates independently of foreign approvals.

Rockhopper Exploration identifies significant value in Falkland Islands resource evaluation

Mexico seizes over 3mn litres of illegal fuel in Tabasco crackdown

Mexican authorities confiscated more than 3mn litres of illegally stored fuel at a southeastern Tabasco property, marking the latest major seizure in the country's intensified campaign against fuel smuggling.

ExxonMobil Guyana posts 62% surge in proifts in 2024

ExxonMobil Guyana Limited reported a significant 62% surge in profits to $4.73bn in 2024, up from $2.92bn the previous year.

May exports from Trinidad and Tobago’s Atlantic LNG rise

Trinidad and Tobago’s flagship Atlantic LNG export terminal witnessed a 43% climb in exports during May compared to April.

Venezuela's Maduro targets private sector as oil revenues slide and sanctions tighten

Venezuela is shifting its fiscal burden onto domestic businesses as oil revenues dwindle and US sanctions deepen, including Washington’s recent move to let Chevron’s operating licence lapse

Israel's Navitas delays FID for Sea Lion oil project off Falkland Islands

Israel's Navitas Petroleum has delayed the final investment decision for its Sea Lion oil project in the North Falkland Basin until the second half of 2025 as the company works to secure financing for the $1.4bn Phase 1 development.

Guyana signs historic oil spill bill into law

Guyana's President Irfaan Ali has signed comprehensive oil spill legislation establishing a national framework for prevention and response while holding companies liable for full restoration costs and damages.

Colombia's energy sector braces for $4.68bn investment surge despite output challenges

Colombia's hydrocarbon sector anticipates investment flows reaching $4.68bn in 2025, marking an 8% increase from the previous year's $4.33bn.

Brazil pulls offshore block as bidding terms shift

Brazil’s National Petroleum Agency (ANP) released updated documentation for the Permanent Production Sharing Offer (OPP), removing the Mogno block from the offer due to its location beyond the country’s Exclusive Economic Zone.

Portuguese energy company eyes output surge from Brazil’s Bacalhau field

Portugal’s Galp expects its oil and gas output in Brazil to rise by around 40% in the coming years as production ramps up at the offshore Bacalhau field.

Brazil’s Petrobras reduces wholesale fuel prices

Brazil’s Petrobras has cut petrol prices to distributors by 5.6%. The average price felt to BRL2.85 ($0.50) per litre, a reduction of BRL0.17.

Portugal's Galp eyes 40% oil output rise in Brazil with new field

Portuguese energy company Galp expects to boost its oil and gas production in Brazil by around 40% over the next few years when the offshore Bacalhau field reaches peak output, according to executive board member Nuno Bastos.

Trinidad court clears path for ConocoPhillips to pursue $11bn Venezuela claim

The dispute stems from Caracas' 2007 decision under then-President Hugo Chávez to nationalise ConocoPhillips’ stakes in three major oil ventures—Petrozuata, Hamaca, and Corocoro—without compensation

Brazil’s government sends to Congress $2.6bn pre-salt oil auction bill

The Brazilian government has sent a bill to Congress authorising it to raise at least BRL15bn ($2.62bn) from the sale of oil in pre-salt areas, as the economic team faces pressure to reverse an increase in the IOF financial transaction tax.

Oil edges higher as US tightens Venezuelan sanctions as OPEC+ output hike is less than expected

Crude prices ticked up as the US moved to restrict Chevron’s operations in Venezuela, adding a new layer of geopolitical risk just as the market braces for a potential increase in OPEC+ supply

Norway’s Scana wins multi-million deal for E-house modules offshore Brazil

PSW Power & Automation, a subsidiary of Norway-based offshore energy technology provider Scana, has secured a contract valued between NOK75mn ($7.3mn) and NOK150m for an offshore project in Brazil involving delivery of two E-House modules

Portugal's Mota-Engil wins $270mn Petrobras contract in Brazil

Portuguese construction group Mota-Engil has secured a new contract worth BRL1.56bn ($272mn) with Brazil's national oil company (NOC) Petrobras

Brazilian prosecutors request suspension of Amazon oil auction

Brazil's Federal Public Ministry has recommended that oil and gas regulator ANP suspend an auction of 47 offshore oil areas near the Amazon River mouth, citing socio-environmental and climate risks.

Venezuela deepens trade ties with Turkey amid oil uncertainty

Venezuela is moving to expand its trade footprint with Turkey as internal pressures mount following the expected departure of Chevron and renewed US sanctions

Argentina's RIGI initiative attracts widespread energy investments

Argentina's Large Investment Incentive Regime (RIGI), launched by President Javier Milei in 2023, has attracted 11 proposals totalling $15.5bn in investment pledges since entering force in October 2024.

Final US-licensed oil shipments exit Venezuela as sanctions snap back

The last oil tankers authorised under US sanctions waivers to carry Venezuelan crude and refined products departed this week, marking the end of a brief period of eased restrictions

Colombia's Ecopetrol advances offshore gas projects post Shell withdrawal

Ecopetrol SA is set to continue its offshore natural gas exploration in Colombia's Caribbean waters following Shell Plc's strategic exit from the COL-5, Purple Angel and Fuerte Sur blocks.

Colombia's Ecopetrol faces leadership turmoil amid governance concerns

Colombia's state-controlled oil giant, Ecopetrol, is grappling with a leadership crisis as scrutiny intensifies over President Ricardo Roa's management and potential conflicts of interest.

EOG Resources and BP begin gas production at Trinidad and Tobago field

EOG Resources Trinidad and BP Trinidad and Tobago have achieved first gas production at their jointly operated Mento development off Trinidad's southeast coast.

Colombia's Ecopetrol advances Caribbean gas projects following Shell departure

Colombia's state-controlled energy company Ecopetrol will continue natural gas exploration in Caribbean waters despite Shell's strategic withdrawal from three offshore blocks.