LatAmOil - Latin America Oil & Gas
Brazil’s Petrobras considers retail fuel return amid pricing concerns, political pressure
Brazil's national oil company Petrobras will examine modifications to its strategic framework that could include re-entering the retail fuel market.
Venezuela targets 2027 for first offshore gas exports via Trinidad link
Venezuela aims to begin exporting natural gas by 2027, marking its debut in the global gas market and a potential shift in the country’s energy strategy
Sanctions-dodging 'ghost fleet' moves Venezuelan oil in shadowy operations
A new investigation by NGO Transparencia Venezuela reveals how a shadow fleet of tankers is facilitating covert oil exports from Venezuela, bypassing US sanctions through deceptive maritime tactics
Colombia's Ecopetrol ships first paraffin cargo to Brazil in export push
Colombia's state-owned oil company Ecopetrol has shipped its inaugural 200-tonne cargo of liquid paraffin to Brazil.
Colombia launches national energy transition consultation
Colombia's Ministry of Energy has initiated a comprehensive national consultation aimed at mapping capabilities and requirements for an equitable energy transition.
Pemex expects $8bn from mixed contracts as Slim's Carso Energy leads investment interest
Argentine National Treasury dismisses over 60 employees amid YPF case leaks
Argentina's National Treasury Attorney's Office has dismissed more than 60 employees following an internal investigation into suspected information leaks related to the YPF expropriation court case.
Bondholders move to derail Venezuela-owned Citgo sale over disputed collateral rights
A group of creditors holding defaulted Venezuelan bonds is moving to block a $7.4bn offer to acquire Citgo Petroleum Corp.’s parent company.
Brazil seeks to negotiate Trump's threatened tariffs but oil exports could be unscathed, say analysts
Argentina receives temporary relief in YPF case as Trump offers support
Argentina has secured a brief reprieve from a US court ruling that would force the government to surrender its controlling stake in national oil company YPF.
Venezuela criticises energy sanctions at OPEC seminar in Vienna
Venezuela's Vice President Delcy Rodriguez has used a major oil industry gathering to condemn international sanctions on energy producers again, warning they threaten global supply security and undermine investment in the sector.
Brazil suspends Petrobras pre-salt licence, freezes Petrobras Amazon blocks over green concerns
Brazil has halted analysis of Petrobras' preliminary licence application for pre-salt exploration in the Santos Basin and also has suspended blocks in six Petrobras blocks in the Foz do Amazonas Basin.
Oil, gas revenue for Venezuela’s PDVSA hit $17.6bn in 2024 despite US sanctions
State-owned Petróleos de Venezuela (PDVSA) generated $17.52bn in hydrocarbon sales in 2024.
Brazil's environmental agency suspends Petrobras pre-salt licence over climate concerns
Brazil's environmental watchdog Ibama has halted analysis of Petrobras' preliminary licence application for pre-salt exploration in the Santos Basin, affecting a BRL196.4bn ($35.4bn) project due to inadequate climate change plans.
Floatel Victory secures Brazil deal
Floatel International has signed a letter of intent for the Floatel Victory to provide Maintenance and Safety Unit (MSU) support offshore Brazil from early 2026.
Brazil’s Petrobras FPSO heads for Búzios field
Petrobras has confirmed that FPSO P-78 departed Seatrium’s Benoi yard in Singapore on July 13 and is en route to the Búzios field in Brazil’s pre-salt Santos Basin.
MODEC announces progress on Guyanese FPSO for upcoming project
MODEC has announced the successful arrival of the Errea Wittu floating production, storage and offloading vessel in Singapore on June 28, following completion of construction and commissioning works in China.
Ecuadorian state-owned pipeline to undergo maintenance after 50 years
Ecuador's government announced on July 14 a comprehensive maintenance and protection plan for the Trans-Ecuadorean Pipeline System, which has been paralysed since July 1 due to heavy rains in the Amazon region affecting critical infrastructure.
Expro awarded services contract for Mexico's $7.2bn Trion deepwater milestone
Global well services provider Expro secured a three-year contract with Woodside Energy to deliver advanced tubular running and cementing services for Mexico's inaugural ultra-deepwater project
Expro establishes Mexico hub for historic Trion deepwater production services
Global energy services specialist Expro will create a new operational hub after securing a three-year tubular running and cementing contract with Woodside Energy for Mexico's inaugural deepwater oil production facility, Offshore Energy reported.
Canada's Arrow Exploration boosts Colombia output
Arrow Exploration has successfully commissioned two horizontal wells at its Tapir Block operations in Colombia's Llanos Basin, lifting production to between 4,600 and 4,800 barrels of oil equivalent per day net.
PDVSA’s hydrocarbon revenue hits $17.5bn in 2024 despite US sanctions
This came during a period when US licences permitting foreign partners such as Chevron to operate in Venezuela were in effect for most of the year, until their cancellation at the end of May
US-Venezuela negotiations mired by internal divisions and uncertainty
Their differing views extended to Chevron’s oil licence renewal: Grenell suggested it might continue, but Rubio later confirmed its revocation effective May 27, after which both sides appeared to adopt a wait-and-see attitude
Challenger Energy advances Uruguay exploration with seismic plans and upcoming farm-out
The company expects to begin 3D seismic acquisition on AREA OFF-1 in the fourth quarter of 2025, pending the finalisation of environmental permits
Venezuelan union leader says over 100 PDVSA workers detained by Maduro’s regime
Speaking from exile, Iván Freites claimed the arrests occurred at major refining sites, including the Paraguaná complex in Falcón state and more recently at the El Palito refinery in Carabobo state
Venezuelan oil output hits 2025 high in June despite Chevron sanctions
Venezuela's oil production edged higher in the second quarter, defying the expiration of a key US licence that allowed Chevron to operate in the sanctioned country
Brazil’s Petrobras backs offshore TCP trial
Strohm has carried out its first offshore trials of thermoplastic composite pipes (TCP) with Petrobras at depths of around 1,500 metres, the Dutch firm said.
LNG Alliance picks Chart Industries as contractor for Amigo LNG project in Mexico
LNG Alliance has named the contractor for its Amigo LNG project in Mexico, selecting Chart Industries to build the 7.8mn tonnes per year facility.
Guyana sees growing employment due to oil operations
ExxonMobil Guyana President Alistair Routledge has highlighted the growing participation of Guyanese workers in the country's offshore oil operations, describing the trend as crucial for the industry's long-term sustainability.
Argentina receives temporary relief in YPF case
Argentina has secured a brief reprieve from a US court ruling that would force the government to surrender its controlling stake in national oil company YPF, with Judge Loretta Preska granting the country until July 17 to pursue emergency relief.
Brazil's Delta Energia launches fuel distributor targeting agribusiness
Brazilian energy company Delta Energia has secured regulatory approval to enter fuel distribution through its new subsidiary Thero Distribuidora, targeting the country's rapidly growing agribusiness sector.
Guyana's oil revenues surge in June
Guyana's oil revenues continued their strong trajectory in June, with the government earning just over $191mn from three crude oil cargo sales, bringing total oil sales for 2025 to approximately $1.05bn, according to government data.
Colombia's Ecopetrol partners with Aerocivil to advance sustainable aviation fuel initiative
Colombian state oil company Ecopetrol and the country's Civil Aviation Authority have established a strategic alliance to develop sustainable aviation fuel capabilities.
Colombian oil flow disrupted as bombing halts key export pipeline
Colombia's critical Cano Limon-Covenas oil pipeline ceased operations following an explosive attack in Arauca province, with operator Cenit implementing emergency spill containment measures.
Brazil's Petrobras expands female leadership with Laureano appointment
Brazil’s Petrobras has appointed Angélica Garcia Cobas Laureano as its new executive director for Energy Transition and Sustainability, the company’s board confirmed.
Brazil pushes to expand oil output despite net-zero pledge
Brazil is moving to expand crude oil output without raising net emissions from the sector, as it seeks to support its climate credentials ahead of the COP30 summit.
Brazil’s ATE buys Petro-Victory with 10% royalty
Azevedo & Travassos Energia (ATE) has signed a binding memorandum of understanding to acquire Petro-Victory Energy Corp. The deal, agreed on July 2, 2025, will see Petro-Victory become a subsidiary of ATE.
Brazil’s Lula brushes off Trump tariffs threat
US and Panama launch joint military exercises amid canal security concerns
US helicopters have arrived in Panama to begin collaborative training exercises with local security forces, as tensions mount over the strategic waterway's future amid competing US and Chinese interests.
Brazil authorises firm for shale oil exploration amid climate backlash
Brazil's energy ministry has certified Cemes Petróleo to join the "transparent well initiative" designed to boost public awareness of unconventional hydrocarbon deposits, mere months before hosting the UN's COP30 climate summit.
Brazil’s Petrobras launches exploration drilling in Campos Basin pre-salt
Brazil’s national oil company Petrobras has commenced drilling operations at a new exploration prospect in the Campos Basin, marking a significant step in its strategy to double regional production over the coming decade.
MODEC's FPSO crowned Brazil's top oil producer
Japan's MODEC has achieved recognition for operating Brazil's largest oil and gas production facility, with its floating production storage and offloading vessel at the Mero field earning status as the country's leading producer.
Norway’s Solstad lands $84mn Petrobras charter for anchor handling vessel
Norwegian maritime services company Solstad Offshore has sealed an $84mn four-year charter agreement with Brazil's national oil company Petrobras for the anchor handling tug supply ship Normand Turquesa.
India boosts oil imports from US, Brazil as part of supply diversification
According to reports, imports of US crude surged by 51% year-on-year to 271,000 barrels per day between January and June, up from 180,000 bpd during the same period in 2024.
Colombia's oil and gas output drops sharply amid sector slump
Colombia's hydrocarbon sector continued its downward trajectory in May as natural gas production tumbled 11.3% whilst crude oil output fell 4.8%, according to data from the National Hydrocarbons Agency (ANH).
Brazil’s PetroVictory wraps up AND-5 drilling
Petro-Victory Energy has finished drilling the AND-5 well in the Potiguar Basin, Rio Grande do Norte, through its partnership with Azevedo & Travassos Energia (ATE).
Brazil warns US over tariff threat
Brazil may impose reciprocal trade measures if US President Donald Trump’s plan to levy a 50% tariff on imports from Brazil takes effect, President Luiz Inácio Lula da Silva said.
Brazil’s Petrobras eyes Bahia exit
Brazil’s Petrobras may sell its onshore oil and gas assets in Bahia due to high costs and low production compared with its offshore pre-salt fields, CEO Magda Chambriard said.
Brazil freezes Petrobras Amazon oil blocks
Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has halted the exploration period for Petrobras contracts in six blocks in the Foz do Amazonas basin until environmental clearance is granted by Ibama.
Guanabara FPSO tops Brazil output
Brazil’s FPSO Guanabara MV31 has been confirmed as the country’s top producing unit by the National Agency for Petroleum, Natural Gas and Biofuels (ANP), underlining its role at Petrobras’ Mero field in the Santos Basin, MODEC said.
Gold Reserve signals confidence in Citgo team as $7.4bn deal for Venezuelan asset awaits ruling
Gold Reserve Inc. expressed support for Citgo Petroleum Corp.’s current leadership as it awaits a federal court’s decision on its $7.4bn bid to acquire the refiner’s parent company
Bondholders move to derail Venezuela-owned Citgo sale over disputed collateral rights
A group of creditors holding defaulted Venezuelan bonds is moving to block a $7.4bn offer to acquire Citgo Petroleum Corp.’s parent company, arguing the deal would undermine their legal claims to pledged collateral
Venezuela warns against energy exclusion as OPEC calls for trillions in investment
During a session focused on unlocking the $17 trillion needed by 2050 to secure global energy flows, Delcy Rodríguez stressed that Venezuela must remain part of the international energy equation
Venezuela aims to cut oil reliance with 11% industrial growth target by 2025
According to pro-government outlet Misión Verdad, the international sanctions—numbering over a thousand—have left deep scars on the country’s core industries
Trion deepwater project reaches 25% completion amid Mexico production decline warnings
Woodside's Trion crude oil joint venture with Pemex has achieved 25% completion, progressing on budget and schedule towards a 2028 launch whilst Mexico faces projected production decline to 1.29mn bpd by 2030, Mexico Business News reported.
Mexico's flagship $20bn refinery falls short of energy sovereignty goals
The Olmeca Refinery, positioned as Mexico's pathway to energy independence, operates at merely one-third capacity despite representing the Americas' largest new petroleum facility and consuming $20bn in public investment, the Financial Times reported
Cuba oil shipments reflect Mexico's geopolitical priorities amid declining export volumes
Mexico’s Dos Bocas refinery operates below capacity following extended shutdown
Mexico's Olmeca Refinery in Dos Bocas, Tabasco, continues running below designed capacity after a months-long operational halt between December 2023 and February 2024 due to saline water contamination, Mexican President Claudia Sheinbaum confirmed
Argentina files appeal against US ruling over YPF case
Argentina has filed an appeal against a US court ordering the country to surrender its 51% controlling stake in national oil company YPF, court documents showed.
Colombia unveils $194mn royalties scheme to drive extractive investment
Colombia's mines and energy ministry has unveiled proposals to distribute nearly COP775bn (approximately $194mn) through royalty-based incentives targeting oil, gas, coal, precious metals and nickel sectors across 2025-26.
Colombian authorities seize Anglo-French Perenco assets over alleged paramilitary funding
Colombian prosecutors have confiscated Anglo-French energy company Perenco's assets worth approximately $10mn following accusations of historical payments to defunct paramilitary groups.
Venezuela courts African energy allies as OPEC summit held
Venezuela is stepping up its diplomatic outreach with key African energy producers as part of efforts to deepen south-south cooperation and push back against Western sanctions
Venezuela criticises energy sanctions at OPEC seminar in Vienna
Venezuela's Vice President Delcy Rodriguez has used a major oil industry gathering to condemn international sanctions on energy producers, warning they threaten global supply security and undermine investment in the sector.
Arbitrators reported to have reached decision in ExxonMobil, Hess dispute
The arbitrators in a legal dispute between ExxonMobil and Hess have reportedly reached a decision.
Follow us online