LatAmOil - Latin America Oil & Gas
Brazil’s Petrobras moves to bolster influence in Braskem
Brazil’s Petrobras is weighing an increase in its stake in petrochemical firm Braskem to secure more influence in company decisions, according to people familiar with the matter.
Helix Energy secures multi-year Gulf of Mexico intervention contract starting 2026
US offshore energy services provider Helix Energy Solutions Group has won a multi-year contract to deliver production enhancement and well abandonment services in the Gulf of Mexico
Guyanese oil output expected to flourish as Americas' outlook revised down
Oil production across the Americas is projected to reach 63mn barrels of oil equivalent per day by 2031, representing a 7% increase from 2024 levels, according to Westwood Global Energy Group's latest Wells & Production Outlook.
Argentina's Río Negro province opens bidding for Vaca Muerta shale exploration
The provincial administration of Río Negro in Argentina has announced a public tender for rights to explore and eventually develop unconventional hydrocarbons in its section of the vast Vaca Muerta formation.
Exxon-led consortium pays Guyana nearly $78 Million in Q2 oil royalties
During the second quarter of 2025, Guyana received approximately $77.9 million in royalty payments from a consortium headed by ExxonMobil .
Brazil achieves record output at Buzios field
Possessing Brazil’s most productive wells, Buzios is central to the country's strategy of pre-salt development.
Trinidad and Tobago NGL hit with $35.8mn loss after US pullback from Venezuela gas licences
The company said its review of the asset’s value, based on new cash flow projections from both PPGPL and the National Gas Company of Trinidad and Tobago, led to an impairment charge of $85.2mn
Venezuela advances gas plans amid uncertainty over exports to Colombia
Venezuelan Executive Vice President and hydrocarbons minister Delcy Rodríguez convened with senior officials to advance the implementation of the country’s Special Gas Plan, signalling ambitions to develop the nation’s gas belt
US judge lets Citgo auction overseer weigh fresh bids before final ruling
A US federal judge has allowed the official supervising the sale of Citgo Petroleum’s parent company to consider fresh offers, adding a new twist to a process that has stretched on for years
Petrobras CEO warns oil reference price change threatens post-salt project viability
Petrobras' CEO cautioned that new oil reference price methodology could undermine the economic viability of post-salt projects both offshore and onshore, particularly affecting the company's efforts to revive production in northern Rio de Janeiro.
Brazil’s OceanPact secures $585mn Petrobras vessel contracts for subsea operations
Brazilian offshore services company OceanPact won four contracts worth BRL3.2bn ($585mn) to supply remotely operated vehicle support vessels (RSV) to national oil company (NOC) Petrobras for four-year charter periods.
Brazil’s oil regulator extends Aram block exploration deadline as Petrobras pursues pre-salt prospect
Brazil's oil regulator ANP approved an 18-month extension for exploration in the Santos Basin's Aram block, pushing the deadline to June 30, 2029, and providing Petrobras and partner CNOOC additional time to advance drilling in pre-salt areas.
Mexico’s Amigo LNG signs 20-year supply deal with Gunvor
Mexico’s Amigo LNG has agreed to a 20-year sales and purchase agreement (SPA) with Gunvor Singapore
Brazil’s ANP and Aneel nominees face shortened terms
If endorsed by the Senate, incoming directors of Brazil’s National Petroleum Agency (ANP) and the electricity regulator Aneel will serve mandates shorter than the five years set by law, due to delays in appointments.
Brazil’s Seagems completes Atlanta Field project, dedicates full fleet to Petrobras
Seagems completed the BRAVA Project in the Santos Basin's Atlanta Field, finishing EPCI operations that included decommissioning the existing Early Production System and connecting three additional wells to the new FPSO Atlanta.
Saipem completes work for ExxonMobil Guyana's Yellowtail field
Italian contractor Saipem has completed its subsea infrastructure work for ExxonMobil's Yellowtail field in Guyana's Stabroek Block, marking another key milestone in the South American nation's latest oil project’s progress.
Petrobras and regulator agree on final Equatorial Margin drilling test
Petrobras reached an agreement with environmental regulator Ibama to conduct pre-operational assessment tests for drilling in the environmentally sensitive Equatorial Margin, marking the final step before potential authorisation.
Petrobras and BP partnership on Brazil's Bumerangue block hinges on CO2 levels
A potential partnership between BP and Brazil’s national oil company Petrobras to develop the UK firm’s major oil discovery in Brazil's pre-salt Bumerangue block depends on carbon dioxide levels in the reservoir.
Braskem faces prolonged financial distress as petrochemicals crisis extends leverage pressures through 2026
Brazil’s regulator halts Peregrino FPSO production for safety upgrades
Brazil's regulator ANP ordered a production halt at the FPSO Peregrino, operated by Equinor, requiring improvements to risk management documentation and deluge system adjustments that could last three to six weeks.
Amber Energy secures preliminary bondholder deal as Venezuela’s Citgo auction advances
Holders of Venezuela’s defaulted 2020 PDVSA bond have reached a preliminary agreement with Amber Energy, a unit of hedge fund Elliott Investment Management, as part of an enhanced offer submitted by Citgo Petroleum’s parent company
Venezuelan non-oil exports to the US hold steady amid global trade slowdown
González Velutini, president of the Venezuelan Exporters Association (AVEX), stressed that while Venezuelan tariffs remain comparatively moderate, the country cannot fully escape the pressures of a disrupted global economy
Mexico’s Pemex and environmental agency forge hydrocarbon regulation partnership
Mexican state oil company Pemex and the Agency for Safety, Energy and Environment have signed a collaboration agreement to strengthen environmental protection in the hydrocarbons sector through enhanced emission control and monitoring initiatives
Chevron sends first Venezuelan crude shipments to US under new license
Chevron Corp has dispatched its first two cargoes of Venezuelan crude to the United States after Washington eased restrictions on its operations in the country,
Argentina no longer required to turn over stake in YPF
A US appeals court has granted Argentina temporary relief from surrendering its controlling stake in YPF SA to holders of a $16bn judgment, providing breathing room for President Javier Milei's government ahead of October legislative elections.
Trinidad and Tobago looks to lead energy sector innovation amid deal with ExxonMobil
Trinidad and Tobago has secured a major deepwater exploration agreement with ExxonMobil involving potential investments of up to $21.7bn, marking the energy giant's return to the Caribbean nation after a 20-year absence.
Mexican government clashes with Ancira over $112mn Pemex reparation deal
The Mexican government has escalated its dispute with former Altos Hornos de México owner Alonso Ancira over an unfulfilled $112mn payment to Pemex, with prosecutors threatening to reactivate criminal proceedings against the businessman
Energy giants flee Colombia as fiscal crisis deepens
International petroleum majors are accelerating their retreat from Colombia as President Gustavo Petro's anti-fossil fuel policies trigger an investment exodus.
Guyana and Suriname boom, but more state control in Suriname
Although Guyana and Suriname share geography, culture, and offshore geology, the two small South American nations are at different points in their oil and gas journeys.
ExxonMobil returns to Trinidad and Tobago after striking historic deal
ExxonMobil has secured a major deepwater exploration deal with Trinidad and Tobago that could involve investments of up to $21.7bn, marking the company's return to the Caribbean nation after a 20-year absence.
GeoPark seeks to re-enter Argentine oil and gas sector
GeoPark is planning a strategic return to Argentina's oil sector, with CEO Felipe Bayón confirming active negotiations with multiple provinces, particularly Neuquén.
Brazil’s Petrobras emergency drill planned for Foz do Amazonas licence bid
Brazil's environmental regulator Ibama and national oil company (NOC) Petrobras have arranged a disaster response exercise in the Foz do Amazonas region for the week beginning August 24.
OPEC output rises in July as Venezuela’s figures clash with market data
Venezuela reported a 15,000-barrel daily increase in July to 1.084mn barrels, aligning with Nicolás Maduro’s goal of sustaining output above 1mn bpd — a target unmet for five years
Amber Energy tables $8.8bn offer in Citgo auction’s final stretch
Amber Energy, a unit of Elliott Investment Management, has entered a late bid exceeding $8.82bn for shares in Citgo Petroleum, as the court-supervised auction nears its conclusion
TotalEnergies to sell Argentine shale assets to YPF, Vaca Muerta faces market dynamics
France's TotalEnergies has agreed to sell its 45% stake in two unconventional oil and gas blocks in Argentina's Vaca Muerta shale formation to Argentina's national oil company YPF.
Chevron resumes Venezuelan exports, regains authorisation to import to US
Chevron Corp. has restarted Venezuelan crude shipments to the United States after a months-long pause, with the first cargo under its new restricted licence set to depart this week.
ExxonMobil could invest $21.7bn in Trinidad and Tobago
For the first time in two decades, ExxonMobil has returned to Trinidad and Tobago, and could invest $21.7bn in a region close to the Stabroek block off Guyana.
Brazil’s Petrobras posts $4.89bn Q2 profit despite oil price decline
Brazil’s national oil company Petrobras reported a second-quarter net profit of $4.89bn.
Prominent US-based think tank denies bias in Venezuela research
The US-based Atlantic Council has dismissed allegations that its work on Venezuela policy has been influenced by donations from the US supermajor Chevron Corp., following claims by a former member of its Venezuela working group.
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