LatAmOil - Latin America Oil & Gas

Ecuador’s oil output to drop 7% in 2025, Central Bank forecasts

Ecuador’s crude production is expected to average about 439,100 barrels per day (b/d) in 2025, down roughly 7% from approximately 474,000 b/d in 2024, the Central Bank projected in its latest GDP outlook.

Uruguay backs Argentina in appeal over YPF ruling

Uruguay has formally aligned with Argentina in its battle against a US court order requiring Buenos Aires to cede a majority stake in state-run oil company YPF

Colombian presidential hopefuls revive fracking debate as gas crisis deepens

NOV wins contract for Argentina’s first FLNG project

Oilfield services provider NOV has secured a contract to deliver a mooring solution for Argentina’s first offshore floating liquefied natural gas (FLNG) project in the Gulf of San Matías.

Exxon invests $6.8bn in Guyana with new Hammerhead oil project

Guyana’s offshore energy sector is entering a new phase of expansion with ExxonMobil confirming final investment approval for its Hammerhead development, the seventh major project in the Stabroek block.

Peru seeks Qatari investment to boost hydrocarbons and petrochemicals

Peru has stepped up efforts to attract Qatari capital to its hydrocarbons industry, emphasising exploration, offshore crude blocks and petrochemical development.

Colombia's Celsia invests $6mn to expand gas supply network

Colombian power generator Celsia will invest $6mn to connect its Tesorito thermal facility to additional gas pipeline infrastructure, strengthening supply reliability as the nation confronts mounting energy security challenges.

Colombia's Ecopetrol exceeds drilling targets despite nation's energy transition push

Colombia's state oil producer will exceed its annual drilling programme by up to 40%, despite President Gustavo Petro's commitment to phase out fossil fuels.

Chevron, Occidental and Westlawn enter consortium for offshore Peru exploration

Chevron, Occidental Petroleum’s subsidiary Anadarko Peru, and Westlawn Americas Offshore (WAO) have formalised a consortium to explore offshore Peru, following the signing of amended licence agreements for blocks Z-61, Z-62 and Z-63.

Brazil’s Cosan shares plunge 21% as conglomerate plans $1.9bn debt reduction fundraising

Brazil soy industry to invest nearly $1.12bn in processing

Argentina's Vaca Muerta set to eclipse agriculture national top currency earner

Argentina's Vaca Muerta shale formation is positioned to overtake agriculture as the nation's primary foreign currency source, with energy exports reaching record levels whilst transforming the country's economic landscape.

Brazil seeks to anchor COP30 in global stocktake

Brazil will place the global stocktake (GST) from COP28 at the centre of the COP30 climate summit in Belém this November. The presidency has described the GST as a “globally determined contribution”.

World's leading producers continue output plans above Paris deal compatibility

Many of the world’s major fossil fuel producers plan oil, gas and coal extraction far beyond levels compatible with the Paris Agreement.

Mexico disburses $13.8bn through bond offerings to reduce Pemex debt burden

Mexico's Finance Ministry raised $13.8bn through combined euro and dollar bond issuances to amortize state oil company Pemex's heavy obligations

Venezuela launches broad investigation into former opposition over Citgo

US court ruling bolsters PDVSA bondholders as Citgo auction advances

A US federal judge has upheld the legality of Petróleos de Venezuela SA’s 2020 bonds, dealing a setback to the Venezuelan state oil company as it tries to shield its prized US refining asset Citgo from creditors

Mexico and Canada close ranks ahead of USMCA review

Mexico and Canada have stepped up efforts to consolidate their bilateral relationship in anticipation of the 2026 review of the United States-Mexico-Canada Agreement.

Argentine President Milei meets with US firm Continental Resources over energy investment

President Javier Milei met with Continental Resources executives on September 18 to explore investment opportunities in Argentina's hydrocarbon sector, particularly the Vaca Muerta formation.

ExxonMobil gears up to conduct seismic surveys offshore Trinidad and Tobago

ExxonMobil is preparing to conduct seismic surveys on its newly awarded TTUD-1 block offshore Trinidad and Tobago during the second quarter of 2026, marking a significant milestone in the energy giant's return to the Caribbean nation.

Guatemala launches plan to restore damaged oil field in Maya biosphere reserve

Guatemala's National Council of Protected Areas (Conap) has launched a decade-long programme to restore the defunct Xan oil field in the eastern Petén department, following the state's resumption of control over the environmentally damaged site.

New Fortress Energy and Puerto Rico agree on long-term LNG supply deal

US firm New Fortress Energy has inked a 7-year LNG supply deal with the Puerto Rico Public-Private Partnerships Authority and the Third-Party Procurement Office.

TGS expands seismic survey offshore Brazil

Energy intelligence company TGS has launched the second phase of its PAMA 3D multi-client seismic survey in the Equatorial Margin offshore Brazil, the firm said.

Drillship Tidal Action begins Petrobras contract offshore Brazil

Hanwha Ocean’s ultra-deepwater drillship Tidal Action has started operations for Petrobras at the Roncador field in Brazil’s Campos Basin, the company said.

Brazil’s Petrobras tenders tech from IBM, Siemens and Huawei

Petrobras has opened a series of procurement processes to acquire technologies from IBM, Siemens and Huawei, according to the Petronect platform.

Mexico fuel smuggling network operated 69 shipments, generated $150mn since 2023

A sophisticated fuel trafficking operation involving high-ranking Mexican naval officers generated at least $150mn in profits through 69 contraband shipments since June 2023, nearly a year earlier than previously disclosed, El País reported.