LatAmOil - Latin America Oil & Gas
Brazil breaks new oil record, schedules new oil auction as COP30 nears
Brazil recorded its highest oil and natural gas output in May, according to the national regulatory agency’s latest monthly report. This increased hydrocarbon output comes as the county will host the annual US climate summit in November.
Pemex crisis deepens as Mexico prepares $120bn bailout amid debt, refining slump and supplier revolt
Mexico’s state-owned oil company, Petróleos Mexicanos (Pemex), is undergoing significant financial restructuring as it grapples with a complex mix of escalating debt, reduced refining output, and growing supplier unrest.
Ecuador resumes operations at Heavy Crude Oil Pipeline
Ecuador has resumed operations on its Heavy Crude Oil Pipeline, marking a crucial step toward restoring oil exports after severe weather disruptions forced the suspension of crude shipments from the South American nation.
Argentina emerging as dominant regional gas supplier, Wood Mackenzie reports
Argentina is positioning itself to become a dominant regional gas supplier and significant global LNG exporter, with production potentially reaching 180mn cubic feet per day by 2040 under base-case projections, according to Wood Mackenzie.
Colombia's top firms still oil-dependent as Ecopetrol leads profit rankings
Colombia's largest corporations continue to derive their wealth predominantly from traditional energy sectors, with state-owned Ecopetrol leading profit rankings despite declining returns.
Just 111 of the world’s biggest companies are causing $28 trillion worth of climate damage, says study
Just 111 of the world’s largest fossil fuel companies are collectively responsible for an estimated $28 trillion in climate-related economic damage, and just ten of those companies are responsible for half of that total.
Argentina secures $2bn loan to finance key pipeline
Argentina's oil sector has secured a landmark $2bn loan to finance the construction of the Vaca Muerta Oleoducto Sur pipeline and deepwater port in Río Negro.
Brazil’s Petrobras installs new tech on FPSOs
Exail, part of Exail Technologies, has secured an order to supply 30 Quadrans attitude and heading reference systems (AHRS) for Petrobras FPSOs operating offshore Brazil, the company said.
Trump administration grants final window for Venezuelan LPG trade
The US has provided a final grace period for companies to complete liquefied petroleum gas shipments from Venezuela, extending authorisation until September 5 for cargoes loaded before this week's deadline.
Mexican authorities seize 4mn gallons stolen fuel from abandoned trains in Coahuila
Mexican security forces confiscated approximately 4mn gallons of stolen diesel, gasoline and petroleum distillates from two abandoned rail tanker trains near Ramos Arizpe and Saltillo in Coahuila state, bordering Texas, the Associated Press reported.
Argentina seeks to overturn $16.1bn YPF judgement
Argentina's government is mounting an ambitious legal challenge to overturn a $16.1bn judgment related to YPF's nationalisation.
Shell increases gas output forecast for Trinidad's Manatee project
Shell has increased its production forecast for the Manatee gas project offshore Trinidad and Tobago by 10%, providing a crucial boost to the country's energy sector amid recent setbacks from US sanctions.
ExxonMobil relinquishes stake in Guyana's Stabroek Block
ExxonMobil and its partners have fulfilled a key contractual obligation by relinquishing 2,534 km2 of Guyana's prolific Stabroek offshore oil block to the government.
Suriname's new president faces pressure to drive oil and gas sector growth
Suriname has elected Jennifer Geerlings-Simons as its first woman president, positioning the 71-year-old former opposition leader to oversee the country's emerging oil and gas sector amid significant economic expectations.
Mexico inaugurates $350mn natgas combined cycle power plant in San Luis Potosí
Mexican President Claudia Sheinbaum opened the Villa de Reyes Combined Cycle Plant in San Luis Potosí following a $350mn investment, with plans to inaugurate 60 similar facilities during her administration, El Financiero reported.
Brazil’s Petrobras moves billions into Rio refining push
Petrobras plans to allocate BRL33bn ($6bn) to expand refining and petrochemical activities in Rio de Janeiro, with a focus on production and lower-carbon initiatives, the company said.
Brazil’s oil push tests COP30
Brazil’s COP30 president-designate has defended plans to expand oil output while hosting the next UN climate summit, saying production can align with global net-zero targets.
Brazil’s Petrobras seeks Chinese partners for shipyards
Chinese firms have signed a memorandum of understanding with Brazilian shipbuilders EBR, Rio Grande, Mauá, Enseada and Atlântico Sul to develop new partnerships, Petrobras said.
Petronas expands Suriname exploration with new well
Petronas has expanded its offshore exploration campaign in Suriname's Block 52 with the addition of the Roystonea-2 appraisal well, designed to further evaluate the oil discovery made at Roystonea-1 in November 2023.
Argentina merges electricity and gas regulators into one
Argentina's government has merged its electricity and gas regulatory bodies into a single National Gas and Electricity Regulatory Entity, creating a unified oversight structure for the country's energy sector.
Brazil’s Petrobras unveils $6bn Rio de Janeiro investment programme
Brazil's national oil company (NOC) Petrobras will channel over BRL33bn ($6.08bn) into refining and petrochemical operations across Rio de Janeiro state through 2029, expecting to generate 38,000 direct and indirect employment opportunities.
Brava Energia achieves record offshore production levels in Brazil
Brazilian energy firm Brava Energia reported increased output from its offshore Brazilian assets, establishing fresh production milestones during the second quarter.
Gold Reserve emerges as top bidder in Venezuela’s Citgo auction with $7.38bn offer, bondholders object
Canadian mining firm Gold Reserve has been selected as the leading bidder in the court-supervised auction of Citgo Petroleum’s parent company, PDV Holding, according to documents cited by Reuters
Colombia faces energy security crisis as oil reserves dwindle
Colombia confronts mounting pressure to accelerate hydrocarbon exploration as dwindling reserves threaten the nation's energy independence
French Maurel et Prom consolidates Colombian gas holdings
French energy firm Maurel et Prom has agreed to acquire an additional 21% stake in Colombia's Sinu-9 gas block for $78.75mn.
Brazil breaks new oil record
Brazil recorded its highest oil and natural gas output in May, according to the national regulatory agency’s (ANP) latest monthly report.
Mexican president to present comprehensive Pemex restructuring strategy within three weeks
Mexican President Claudia Sheinbaum announced her administration will deliver a detailed transformation plan for state owned oil company Pemex in approximately three weeks, outlining strategies to strengthen Mexico's national oil company
Mexico seizes 880,000 litres stolen fuel in latest anti-huachicol operation
Mexican authorities confiscated more than 880,000 litres of stolen hydrocarbons stored across two properties in Cunduacán municipality, Tabasco, as part of ongoing efforts against fuel theft known locally as huachicol, El País reported.
Argentina temporarily limits industrial use of natural gas as frigid weather hits
Argentina has imposed restrictions on industrial natural gas supply as record-breaking cold weather drives unprecedented residential heating demand, the nation's energy secretariat announced.
Mexico City fuel entrepreneur targets half-million monthly transactions with station network
A Mexican entrepreneur has launched Urbanus Energy's first service station in Ciudad Nezahualcóyotl, commencing an ambitious 12-location expansion throughout Mexico City's metropolitan corridors
Valero's Mexico Tamaulipas fuel terminal enters final testing phase before commercial launch
Three Valero vessels carrying refined petroleum products will dock at Mexico's Altamira port to validate operational systems at the company's new $180mn distribution facility, with Operadora de Terminales Marítimas overseeing pre-startup procedures
Noble Finance Company seeks scaffolding provider in Guyana
Noble Finance Company has issued a Request for Information (RFI) in search of a supplier of scaffolding for its operations in Guyana.
Gold Reserve-led group to secure Venezuela's Citgo parent in Delaware court auction
A consortium led by Gold Reserve Ltd. is set to be recommended as the top bidder for the parent company of Citgo Petroleum Corp., marking a key milestone in Venezuela’s prolonged creditor dispute.
Colombia's Ecopetrol secures commercial viability for Meta province oil discovery
Colombia's state-controlled oil giant Ecopetrol SA has declared commercial viability for its Lorito field discovery in Meta province, marking the company's most significant hydrocarbon find in ten years.
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