LatAmOil - Latin America Oil & Gas
Six FPSOs cleared for Brazil ops
Axess Group has signed agreements with Seatrium to provide Brazilian Regulatory Compliance (BRC) services for six floating production, storage and offloading (FPSO) units to be deployed offshore Brazil for Petrobras.
BP's Brazil find sparks deepwater race
British Petroleum (BP) has identified what it describes as its largest oil and gas discovery in over two decades in Brazil’s offshore Santos Basin, a development that could influence interest in an upcoming auction of nearby blocks.
Pemex bets on gas and power in risky 10-year push
Mexico’s state-owned energy company, Petróleos Mexicanos (Pemex), has unveiled a comprehensive 10-year strategic plan that combines upstream expansion, new infrastructure, financial restructuring and entry into electricity and gas markets.
Trinidad and Tobago to award ExxonMobil exploration rights to new deepwater blocks
Trinidad and Tobago has agreed to award ExxonMobil exploration rights to seven ultra-deep blocks off its east coast, marking the US oil giant's return to the Caribbean nation after more than two decades, according to senior government officials.
ExxonMobil Guyana assures it will accept court ruling over Chevron-Hess deal
ExxonMobil CEO Darren Woods has expressed disappointment with the recent arbitration ruling that allowed Chevron to complete its $55bn acquisition of Hess Corporation, securing a 30% stake in Guyana's prolific Stabroek Block.
Guyana posts lowest gasoline prices in the Caribbean
Guyana has recorded the Caribbean region's lowest gasoline prices at $0.81 per litre in July, significantly below the global average of $1.19, according to analysis by the Energy Chamber of Trinidad and Tobago.
Gran Tierra acquires GeoPark assets in Ecuadorian oil blocks
Gran Tierra Energy Inc. announced in a press release the acquisition of GeoPark Ecuador S.A.'s and Frontera Energy Colombia Corp's interests in Ecuador's Perico and Espejo Blocks for $15.55mn.
Pan American Energy submits exploration proposal in Argentina's Río Negro
Río Negro province has approved Pan American Energy's private initiative to explore the "Cinco Saltos Sur" area for unconventional hydrocarbons.
Fitch lifts Mexico’s Pemex rating to 'BB' on enhanced government backing
Credit rating agency Fitch has upgraded Mexican state oil producer Petroleos Mexicanos to 'BB' from 'B+', removing its positive watch status and highlighting strengthened government support for the heavily indebted energy company,
Oxford sees oil firms’ return as lifeline for Venezuela’s economy but warns bonds still risky
Oxford Economics says the re-entry of Chevron and other international oil companies into Venezuela could stabilise crude output and ease currency pressures
Chevron, Valero move to restart Venezuelan heavy crude supply after new US licence
Chevron and Valero Energy are advancing talks to reinstate a supply agreement for Venezuelan heavy crude oil destined for US refineries, sources familiar with the matter said, following the issuance of a fresh licence to Chevron
Venezuelan oil exports slip 10% in July as Chevron awaits full US approval
Venezuela’s crude shipments declined nearly 10% in July from the previous month as key partners of state oil company PDVSA awaited expanded authorisations from Washington, according to vessel tracking and internal documents
Venezuela downplays Chevron’s role as US licence limits operations in the country
Venezuelan Minister of Interior Diosdado Cabello dismissed concerns over the future of Chevron’s operations in the country, asserting that the nation is not dependent on the US oil major
Brazil rejects US sanctions over Russian oil imports
Brazil has rejected the imposition of economic sanctions tied to its international trade policy, according to a senior presidential advisor.
Petronas plans Brazil oil field exit
Malaysia’s Petronas is seeking to sell its 50% interest in Brazil’s Tartaruga Verde oil field, targeting proceeds of up to $1bn.
Critical parts delivered for ExxonMobil Guyana's Uaru development
Hunting Subsea Technologies delivered eight titanium stress joints for ExxonMobil's Uaru oil development offshore Guyana, marking another milestone in the rapid expansion of one of the world's fastest-growing deepwater oil regions.
Suriname's GranMorgu project could surpass initial output expectations, TotalEnergies claims
TotalEnergies' flagship GranMorgu project offshore Suriname could exceed its planned production plateau of 220,000 barrels per day, according to CEO Patrick Pouyanné.
ExxonMobil CEO views Guyana oil block as biggest discovery in 15 years
ExxonMobil CEO Darren Woods has highlighted Guyana's offshore Stabroek Block as the oil industry's most significant discovery in the past 15 years, praising the development's exceptional performance during the company's Q2 2025 earnings call.
Solstad lands another Brazil’s Petrobras deal
Solstad Offshore has signed a new four-year agreement with Petrobras for the use of the construction support vessel (CSV) Normand Commander.
Brazil’s Petrobras awards three-year liftboat deal
Brazil turns up the ethanol
Brazil has raised its national ethanol blend requirement in petrol from 27.5% to 30%, effective August 1, leading to immediate impacts on imports, pricing, and supply chains, according to market participants.
Russian diesel surge reshapes Brazil's fuel market
Diesel imports into Brazil rose by 229.7% in Q2 2025 compared to the same period in 2024, driven mainly by increased volumes from Russia, according to Petrobras’ latest production and sales report.
Brazil’s Petrobras picks two more DOF vessels
DOF Group has been awarded two four-year contracts by Petrobras for the deployment of its anchor handling tug supply (AHTS) vessels Skandi Fluminense and Skandi Lifter, the Norwegian offshore supply vessel operator said.
MODEC marks milestones offshore Brazil
MODEC marked two operational milestones this month off Brazil, commemorating 15 years of the FPSO Cidade de Santos MV20 and a decade of the FPSO Cidade de Itaguaí MV26.
Brazil’s Brava Energia output hits record
Brazil’s Brava Energia reported average production of 90.9 thousand barrels of oil equivalent per day in July 2025, marking its highest monthly output to date.
BP strikes big off Brazil
British Petroleum (BP) has confirmed its largest oil and gas find in more than two decades following the drilling of the Bumerangue well in Brazil’s Santos Basin, the company said.
OPEC+ to raise oil production in September
Eight key OPEC+ countries have announced a production adjustment of 547,000 bpd for September
Brazilian deepwater yields BP's biggest oil and gas find in decades
BP has announced its most significant oil and gas discovery in 25 years following successful drilling at the Bumerangue prospect in Brazil's deepwater Santos Basin.
Venezuela’s Cabello says US sanctions target a fiction while US quietly does oil business with Maduro
Diosdado Cabello accused the United States of hypocrisy over sanctions tied to the so-called “Cartel of the Suns,” dismissing the allegations as baseless while highlighting Chevron’s deepening commercial ties with Nicolás Maduro’s regime
Vopak to reconfigure Mexico terminal amid fuel storage demand weakness
Dutch infrastructure operator Vopak plans to partially convert its 640,000-barrel fuel terminal in Veracruz, Mexico, for chemical storage beginning in 2026, citing insufficient sustained demand for refined products storage in the region
Argentine bunker fuel sales slump in first five months of 2025
Argentina's bunker fuel sales plummeted 23% in the first five months of 2025 as operational challenges and competitive pressures weighed on the sector, though suppliers anticipate a recovery in the second half.
Weatherford lands breakthrough drilling technology contract for Mexico's Trion deepwater venture
Texas-based drilling services specialist Weatherford International has captured a pivotal multi-year assignment delivering advanced Managed Pressure Drilling solutions for the Trion deepwater petroleum project
Mexico's oil exports plunge 30% in June as Pemex crude falls 39%
Mexico's petroleum exports declined sharply in June, extending a downward trajectory throughout 2025's first half, according to fresh INEGI data, Mexico Business News reported
PDVSA Ad Hoc board faces scrutiny over legal spending and worker claims
Venezuelan economist Francisco Rodríguez has accused PDVSA’s US-based Ad Hoc Administrative Board, led by Horacio Medina, of diverting significant resources to contest legal claims by more than 20,000 former oil workers in US courts
Chevron’s Venezuela oil restart stalls as refineries await shipments
Chevron Corp. has yet to dispatch any Venezuelan crude to US refiners nearly a week after receiving authorisation from the Trump administration to resume production, leaving Gulf Coast processors in limbo amid tight global supplies
Venezuela insists Chevron must pay despite sanctions restrictions
Venezuelan Interior Minister Diosdado Cabello dismissed suggestions that Chevron's renewed operations in the country would allow the US oil major to extract crude without paying royalties
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