LatAmOil - Latin America Oil & Gas

Colombia’s oil output extends decline amid strained US ties

Colombia's hydrocarbon industry confronts mounting pressures as deteriorating US diplomatic ties compound an already declining production trajectory.

Colombia's export sector faces challenges as oil production stagnates

Colombia's foreign trade balance confronts mounting pressure as oil production declines threaten export competitiveness, with fuel exports dropping 19.8% through July 2025.

Mexico launches $5.9bn euro bond and dollar offerings to support Pemex restructuring

Mexico accessed international debt markets twice this week, issuing €5bn ($5.88bn) in euro-denominated bonds and launching US dollar-denominated notes to fund state oil company Pemex's debt reduction programme.

Delaware court opens Venezuela’s Citgo sale battle as creditors vie for control

A high-stakes auction over shares in Citgo Petroleum’s US parent company, owned by Venezuela, began on September 16 in a Delaware, US courtroom, setting the stage for a contentious showdown between creditors and potential buyers.

Brazil’s Petrobras targets year-end restart of nitrogen fertiliser facilities previously run by Unigel

Chevron’s Venezuela comeback faces political headwinds and market risks

Chevron has restarted its operations in Venezuela amid persistent political tensions between Washington and Caracas, raising concerns over the long-term stability of the US major’s Venezuelan projects

Perenco launches $250mn reactivation programme for mothballed Brazilian Campos Basin fields

Anglo-French oil firm Perenco has commenced a comprehensive reactivation program for the Cherne and Bagre fields in Brazil's Campos Basin, targeting restoration of 50mn barrels of reserves through a two-year $250mn investment plan, the company said

Perenco invests $250mn to restart Brazil’s Campos Basin oil fields

Perenco has launched a two-year programme to restart production from the Cherne and Bagre concessions in Brazil’s Campos Basin, acquired from Petrobras earlier this year.

Brazil’s PRIO wins licence for $870mn Wahoo project

Brazil’s PRIO said, in a press release, it has obtained an installation permit from environmental regulator Ibama for the development of the Wahoo field and its connection to the Frade FPSO.

Belgium's Tenaris wins Brazil’s 11-pipe Buzios deal

Tenaris said it has secured a contract to deliver 18,000 tonnes of seamless pipe, equal to 115 km, for risers and flowlines of the FPSO P-83 production system at the Brazil’s Búzios 11 field.

IEA warns that output at existing oil and gas fields is falling faster than expected

Analysis of thousands of reservoirs shows that many of the largest conventional fields have already peaked, while unconventional sources such as shale need constant drilling to maintain production.

Brazil’s PRIO secures license to begin Wahoo field subsea development with first oil targeted for early 2026

PRIO has obtained environmental licensing from Ibama to commence subsea construction activities at its Wahoo field, with first oil production expected between March and April 2026.

BP strikes biggest Brazil oil find in decades

BP has announced the Bumerangue oil discovery offshore Brazil, its largest find in a quarter of a century, sparking renewed investor interest in exploration.

Argentina's YPF begins drilling three new wells in $200mn push

Argentina opposes Israel's Navitas Petroleum's involvement in Falkland Islands

Argentina has reiterated its "strong rejection" of Israeli oil company Navitas Petroleum's operations in the Falkland Islands, declaring the activities illegal and unauthorised in what it considers Argentine territory.

Panama Canal plans $8bn gas pipeline to link Atlantic and Pacific by 2027

The Panama Canal Authority is advancing discussions on a multi-billion-dollar gas pipeline across the isthmus, a project it expects to begin constructing in 2027 as part of its broader 2025–2035 strategic plan.

Guyana's oil revenues surge in August as country targets sector growth

Guyana's oil revenues reached nearly $213mn in August, bringing the country's cumulative petroleum earnings to over $1.26bn for 2025, according to the latest Natural Resource Fund NRF report published by the Bank of Guyana.

Mexico launches $5.9bn euro bonds and dollar offerings to support Pemex restructuring

Mexico accessed international debt markets twice this week, issuing €5bn ($5.88bn) in euro-denominated bonds and launching dollar-denominated notes to fund state oil company Pemex's debt reduction programme, Bloomberg Línea and Reuters reported

Colombia's Ecopetrol launches gas marketing process for Floreña Field output through 2028

Colombia's state oil company Ecopetrol launched a marketing process for 12-26 GBTUD (Giga British Thermal Units Daily-Billion BTU per Day) from its Floreña field in Casanare province, targeting supply contracts through 2028.

Delaware court opens Venezuela’s Citgo sale battle as creditors vie for control

A high-stakes auction over shares in Citgo Petroleum’s US parent company, owned by Venezuela, began in a Delaware courtroom, setting the stage for a contentious showdown between creditors and potential buyers

Pemex trading chief Perez in Mexico resigns from PMI directorship

Margarita Perez stepped down as director of Pemex's international trading arm PMI this week, with finance ministry official Adan Garcia likely to replace her, Argus Media reported. A company source confirmed Perez's departure

Guyana and Suriname aim to launch oil and gas cooperation

Suriname's President Jennifer Geerlings-Simons and Guyana's recently re-elected President Irfaan Ali convened in Nieuw Nickerie, Suriname, to strengthen bilateral cooperation, with oil and gas sector collaboration taking centre stage in their talks.

Colombia's export sector faces challenges as oil production stagnates

Colombia's foreign trade balance confronts mounting pressure as oil production declines threaten export competitiveness, with fuel exports dropping 19.8% through July 2025 compared to the same period last year

BP’s Brazil oil strike lifts exploration hopes

BP’s discovery of a large offshore oilfield in Brazil has revived investor appetite for exploration, echoing an earlier era when majors raced to secure reserves.

Vallourec secures Brazil’s Petrobras supply deal

French pipe maker Vallourec has won a multi-year contract to supply Petrobras with oil country tubular goods (OCTG) for offshore wells between 2026 and 2029, following a competitive bidding process.

Brazil’s Petrobras takes stake in São Tomé offshore block

Brazil’s Petrobras said, in a press release, it has acquired a 27.5% stake in Block 4 offshore São Tomé and Príncipe, strengthening its exploration portfolio in Africa.

Colombia launches solar programme to replace power subsidies for 1mn households

Colombia's administration unveiled a transformative solar initiative through Decree 0972 of 2025, targeting over 1mn low-income households to replace traditional electricity subsidies with photovoltaic self-generation systems.

Colombia's Petro urges clean energy investment as nation faces oil market reality

Colombian President Gustavo Petro Urrego called for accelerated public and private investment in renewable energy, warning that continued reliance on oil and coal represents "economic suicide,"

Cuba's largest power plant to shut for six-month overhaul amid energy crisis

Cuba's critical Antonio Guiteras power facility will cease operations for half a year starting late 2025, intensifying the Caribbean nation's electricity shortage that has triggered five nationwide blackouts in under 12 months.

Delaware court upholds Amber Energy bid in Citgo sale dispute

A Delaware court rejected Canadian miner Gold Reserve’s attempt to block Amber Energy, an Elliott Investment Management subsidiary, from proceeding with its bid for the parent company of Venezuelan-owned refiner Citgo Petroleum

Venezuela reports 1.1mn barrels of oil a day in August, sources cite lower

Government figures put output at 1.1mn bpd, though secondary sources cited a lower 936,000, with the discrepancy tied to whether imported diluents are counted

Colombia's Ecopetrol launches gas marketing drive as nation battles supply crisis

Colombia's state oil company Ecopetrol has initiated a fresh gas marketing campaign targeting 12-26 Giga British Thermal Units daily from its Floreña field in Casanare province for 2026-2028.

Mexico admits Pemex debt pressures public finances

Mexican President Claudia Sheinbaum acknowledged that state oil company Pemex continues straining public finances due to what she termed "corrupt debt" inherited from previous administrations, Prensa Latina reported.

Argentina LNG venture advances as Mexico project triples capacity goals

Latin America's liquefied natural gas ambitions are gaining substantial momentum as Argentina's flagship export venture secures growing international backing whilst Mexico's Gato Negro terminal dramatically expands its proposed capacity.