LatAmOil - Latin America Oil & Gas
Venezuela’s oil exports hold steady as China offsets US sanctions 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
Venezuela quietly taps foreign oil investors amid sanctions
Venezuela is increasingly turning to opaque production-sharing agreements to attract foreign oil investment as US sanctions complicate traditional partnerships.
MODEC signs MoU to advance carbon capture for FPSOs offshore Guyana
MODEC Inc. and Carbon Clean Solutions Ltd. have signed a memorandum of understanding to accelerate the development of onboard carbon capture systems for offshore production vessels.
Canada's Crown Point Energy acquires Argentine hydrocarbon concessions
Canadian energy company Crown Point Energy has announced a significant expansion into Argentina's oil sector, entering agreements to acquire hydrocarbon concessions from TecPetrol, Pampa Energía, and Argentine national oil company YPF.
PetroChina gearing up to enter Argentine oil industry
China's largest oil company, PetroChina, is preparing to establish operations in Argentina by the end of 2025, targeting the lucrative Vaca Muerta shale formation amid growing scrutiny over the Milei administration's trade policies.
PetroChina gearing up to enter Argentine oil industry
China's largest oil company, PetroChina, is preparing to establish operations in Argentina by the end of 2025, targeting the lucrative Vaca Muerta shale formation amid growing scrutiny over the Milei administration's trade policies.
Brazil's wildfires fuel jump in deforestation; Lula fast-tracks controversial development projects
Brazil suffered major environmental setbacks in May as Amazon deforestation surged 92% due to wildfires, while the government is under pressure after it fast-tracked controversial oil and highway projects months before hosting the UN's first climate.
Venezuela quietly taps foreign oil investors amid sanctions and secrecy
A leaked list detailing firms that signed so-called “productive participation contracts” (CPPs) with state-owned PDVSA reveals a diverse mix of Chinese, Russian, Turkish, and Western-affiliated companies now operating in the shadows
Gasoline price hike in Venezuela signals Maduro’s push to shrink deficit after Chevron pullout
State-run PDVSA is expected to raise the cost of gasoline from $0.50 to $0.75 per liter, Bloomberg Línea reported this week, citing plans tied to the energy company’s need for alternative revenue sources.
Brazil approves early works for Equinor gas pipeline
Brazil’s Energy Research Company (EPE) has completed the technical review of Equinor’s request to begin early works on a gas pipeline linked to the Raia Project.
Switzerland-based ABB powers up Brazil’s Petrobras FPSOs
Switzerland-based ABB has secured a contract from Singapore’s Seatrium to supply electrical and automation systems for Petrobras’ new floating production storage and offloading (FPSO) units P-84 and P-85.
Colombia seeks European capital for energy transition programme
Colombia's Energy Minister Edwin Palma will engage with over 170 European Union companies during meetings in Brussels next week to secure investment for the nation's renewable energy portfolio.
Brazil’s GNLink expands LNG reach with new Bahia unit
GNLink has secured approval from Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP) to begin operations at its first natural gas liquefaction plant in the Northeast.
Brazil’s Petrobras kicks off offshore wind survey work
Petrobras has launched two tenders for geophysical and geotechnical studies to evaluate the feasibility of an offshore wind project off the coast of Rio de Janeiro, the company announced.
Petrobras rejects Sete Brasil’s $5.6bn claim over offshore rigs
Brazil’s Petrobras said it considers the claims brought against it by Sete Brasil to be without merit and intends to take all necessary legal steps to defend its interests, according to a statement.
Argentina's YPF acquires full control of key pipeline following purchase from Tecpetrol
Argentine national oil company YPF has acquired full control of the Loma Campana-Lago Pellegrini pipeline after purchasing Tecpetrol's remaining 15% stake for $15mn.
Brazil’s Petroreconcavo acquires 50% stake in Brava midstream gas assets
Brazil’s Petroreconcavo has signed a purchase and sale agreement with 3R Potiguar, a subsidiary of Brava Energia, to acquire a 50% stake in natural gas midstream infrastructure in Brazil’s Rio Grande do Norte state.
Mexico's petroleum revenues plunge 12.3% in early 2025 amid production challenges
Mexican oil revenues contracted 12.3% during early 2025, marking the steepest decline since the COVID-19 pandemic in 2020, according to Finance Ministry data.
Energy giant Naturgy secures $14.5mn Mexico gas expansion deal
Naturgy has committed MXN276mn to expand gas operations in Aguascalientes, Mexico, marking a significant energy infrastructure investment announced during Governor Tere Jiménez's Spain investment tour.
Shell diverts Brazilian Ostra crude to US Gulf coast in rare move
Two cargoes of Brazilian heavy sweet Ostra crude loaded in May have been diverted to the US Gulf coast for refining, instead of their typical Singapore destination for very-low sulphur fuel oil blending, trading sources said.
Trinidad and Tobago explores new gas opportunity with Shell
Trinidad and Tobago's government is intensifying efforts to maximise gas production from the Shell-operated Manatee field as it seeks to address a critical domestic gas shortage.
Venezuela’s Essequibo claim undermined by economic constraints and international pushback
Venezuela’s renewed push to assert authority over the oil-rich Essequibo region, currently under Guyanese control, is facing stiff economic and diplomatic headwinds, despite the Maduro regime’s symbolic election of a governor
Venezuela readies 50% fuel price hike amid oil revenue squeeze
Venezuela is preparing to raise domestic fuel prices by 50% as it braces for a decline in oil revenue following the withdrawal of Chevron and other foreign companies
Exxon posted $4.7bn in Guyana revenue in 2024 as output surged
ExxonMobil’s Guyana unit reported a sharp increase in 2024 revenue to $4.7bn, up from $2.9bn the previous year, reflecting a surge in oil production from the Stabroek Block
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