LatAmOil - Latin America Oil & Gas
China vows action after US sanctions on Iran oil shipping networks
China vows to take appropriate measures to ensure energy security and protect companies after US Treasury sanctions more than 50 individuals, entities and vessels over Iranian oil and LPG shipments.
Brazil’s Petrobras spends $34mn keeping drillship idle
Petrobras has incurred BRL180mn ($33.7mn) in costs to maintain a drillship on standby in the Foz do Amazonas basin, while awaiting regulatory approval for a drilling request.
Brazil sets $1.9bn minimum for pre-salt oil auction
Brazil will seek at least BRL10.2bn ($1.91bn) in an upcoming auction of minority stakes in three pre-salt oil fields, state-run company Pré-Sal Petróleo (PPSA) said.
Colombia, Peru and Mexico launch joint LPG initiative
Three Latin American trade bodies have set up a regional partnership to advance liquefied petroleum gas as part of their cleaner energy strategies.
Political and fuel crises push Bolivia into lonely Latin American recession
Bolivia faces one of its most severe economic crises in decades, with the World Bank projecting a three-year recession stretching until 2027.
Mexico caps fuel permits at 20 years, ends renewals under new rules
Mexico's government issued new rules limiting fuel market permit duration and eliminating renewals, tightening energy sector oversight, Argus Media reported.
Chalchi FSO construction starts for Mexico's deepwater Trion project
SBM Offshore cut first steel for the Chalchi floating storage and offloading unit at COSCO Shipyard in China, marking construction commencement for infrastructure serving Mexico's Trion deepwater oil field, Mexico Business News reported.
Repsol deepens US ties to revive frozen operations in Venezuela
Spanish energy giant Repsol is stepping up its efforts to restore operations in Venezuela, recalibrating its strategy to align more closely with the priorities of the administration of President Donald Trump.
Colombia's exports of oil and petroleum products plummeted in August
Colombia’s petroleum product exports fell 25.8% compared with a year earlier, with crude oil volumes reaching 11.2mn barrels representing a 24.4% year-on-year decrease.
Colombia's Ecopetrol advances second LNG import terminal amidst gas crisis
State-controlled Ecopetrol SA is finalising plans to convert portions of its Caribbean coast port into an LNG import facility as Colombia confronts a widening fuel deficit.
Argentina expands support in YPF lawsuit
The Argentinian treasury attorney's office has secured support from a dozen countries and international organisations in its appeal against a US court ruling this summer that could force the country to surrender its stake in state-owned YPF.
US supreme court to hear ExxonMobil Cuba asset seizure case
The US Supreme Court agreed on October 3 to hear ExxonMobil's lawsuit seeking compensation from Cuban state-owned entities for petroleum assets nationalised in 1960, valued at over $700mn currently
Paraguay pushes plan to build bi-oceanic gas pipeline across South America
Paraguay has revived its ambition to turn the Chaco into a continental energy hub, unveiling detailed plans for a bi-oceanic gas pipeline that would connect Argentina’s Vaca Muerta shale reserves with Brazil’s industrial heartland.
Colombia's Ecopetrol to import LNG from the Caribbean
Colombia's national oil company Ecopetrol has announced plans to develop a regasification project at its Coveñas maritime terminal in Sucre, aiming to address the country's growing natural gas shortage through liquefied natural gas imports.
Ecuador fuel subsidy protests intensify, leaders threaten to take control of capital city
Ecuador entered its third week of protests against President Daniel Noboa as tensions escalated over rising diesel prices, with indigenous leaders threatening to take control of the capital while the government responded with emergency measures.
Argentine drilling and fracking set to decline, stunt oil growth
Drilling and fracking activity in Argentina's Vaca Muerta shale formation is declining as falling oil prices and rising operating costs squeeze profitability, jeopardising the sector's growth prospects.
Norway’s DOF purchases work-class ROV from Forum for Brazil subsea operations
Norwegian vessel operator DOF Group has ordered a work-class remotely operated vehicle (ROV) and accompanying tether management system from UK-based Forum Energy Technologies for deployment in Brazilian waters.
Brazil’s Petrobras awards $3.2bn in refinery and vessel contracts
Petrobras finalised BRL19.8bn ($3.2bn) in contracts covering refinery modernisation and offshore support vessels.
Argentina secures support from a dozen countries and organisations in YPF lawsuit
Argentina's Treasury Attorney's Office has secured support from a dozen countries and international organisations in its appeal against a US court ruling that could force the country to surrender its 51% stake in state oil company YPF.
Brazil's Petrobras completes first gas import from Argentina's Vaca Muerta
Petrobras completed on October 3 its first unconventional natural gas import from Argentina's Vaca Muerta formation.
Suriname's president announces national local content programme for oil and gas sector
Newly elected Surinamese President Jennifer Geerlings-Simons has announced plans to launch a National Local Content Programme in 2026, aimed at ensuring Surinamese citizens benefit directly from the country's emerging oil and gas sector.
Colombia's Ecopetrol secures environmental clearance for Coveñas gas terminal
Cenit, the pipeline subsidiary of state-controlled Ecopetrol S.A. received environmental authorisation from the Autoridad Nacional de Licencias Ambientales for a regasification facility at its Coveñas maritime terminal.
Colombia's Ecopetrol sets October deadline for Coveñas gas terminal bidding
State-controlled Ecopetrol SA will commence accepting binding proposals on October 14 for its northern Caribbean regasification facility, with contract award anticipated before year-end.
AKOFS offshore secures $246mn Brazil’s Petrobras deal
AKOFS Offshore, the Oslo-based subsea services provider, has secured a four-year contract to continue work for Brazilian oil company Petrobras, the firm said.
US court upholds ruling against PDVSA in expropriation dispute
The US Court of Appeals for the DC Circuit ruled that PDVSA functions as an “alter ego” of the Venezuelan state, meaning that the country effectively took Helmerich’s assets in breach of international law
Colombia's Ecopetrol advances second LNG terminal as nation faces gas crisis
State-controlled Ecopetrol SA is finalising plans to convert portions of its Caribbean coast port into a liquefied natural gas import facility as Colombia confronts a widening fuel deficit.
New Fortress Energy appears to abandon $700mn Nicaragua gas plant
After three years of postponing the start of operations at the plant it built in Puerto Sandino, it appears US-based New Fortress Energy has shelved its project to generate energy with natural gas in Nicaragua, La Prensa reported.
Pemex to pay Slim's Carso $2.65bn for Lakach field services
Mexican state oil company Pemex will pay over $2.6bn under a services contract to Grupo Carso, owned by Mexican businessman Carlos Slim Helú, for the Lakach gas field in the Gulf of Mexico, Bloomberg Línea reported.
From Paris to Sopó, Colombia's Ecopetrol hit by fresh probe demand
Colombia's Attorney General's Office evaluates assigning a whistleblower complaint alleging procurement irregularities in a technology surveillance contract at state oil company Ecopetrol to prosecutors already investigating apartment purchases.
Venezuelan oil firm loses immunity bid in US drilling rig dispute
Petróleos de Venezuela must defend itself against expropriation allegations after a federal appeals panel rejected its sovereign immunity defence on October 3, Law360 reported.
Repsol deepens US ties to revive frozen operations in Venezuela
Repsol is stepping up efforts to restore its operations in Venezuela, aligning more closely with Washington’s political signals as it seeks to regain access to the country’s oil sector
Brazil’s Petrobras to open FPSO bids for Sergipe project this month
Petrobras will open bids for two FPSOs under the Sergipe Deep Waters Project (Seap) on October 15, following a two-week extension requested by bidders.
DOF orders new ROV from UK’s FET for Brazil subsea work
Norwegian offshore services firm DOF Group has ordered a work-class remotely operated vehicle (ROV) and tether management system from UK-based Forum Energy Technologies (FET) to support subsea projects in Brazil.
Brazil’s Brava Energia to suspend Papa-Terra output for maintenance
Brava Energia will temporarily suspend production at its Papa-Terra field in Brazil’s Campos Basin for up to 12 days in November 2025 to perform scheduled maintenance.
Brazil’s Petrobras moves ahead with new FPSO in Búzios field
Petrobras has begun the contracting process for the construction of the FPSO Búzios 12 (P-91), which will operate in the Santos Basin, Rio de Janeiro.
Ecuador capital erupts in protest as Noboa defies calls to reinstate fuel subsidies
Ecuador's capital, Quito, became a battleground between rival protest groups on October 5 as a state of emergency took effect across 10 provinces, following two weeks of demonstrations against President Noboa's elimination of fuel subsidies.
Brazil’s Colorado submits bid to acquire Raízen's Continental sugarcane facility
Colorado Group, operating two processing facilities across Brazil's Center-South territory, has tendered an offer for Raízen's Continental mill, according to two sources familiar with negotiations who requested anonymity.
Uruguay extends fuel tax breaks along borders with Argentina and Brazil
Under the expansion, businesses located 20 to 60 kilometres from the border will receive a partial refund of approximately 15%
Venezuela reaffirms commitment to OPEC production discipline
Caracas stressed that energy should serve as a driver for development rather than a tool for speculation, particularly amid the ongoing global energy transition
BP and Brazil’s Petrobras extend Transocean rigs
Offshore drilling contractor Transocean said it secured around $243mn in backlog after BP and Petrobras exercised contract options to keep two ultra-deepwater drillships in operation in the Gulf of Mexico and Brazil.
Brazil to boost LPG imports for subsidy scheme
Brazil’s main LPG distributors will increase imports, largely from the United States, to supply demand expected from the government’s Gas do Povo subsidy, executives said during Liquid Gas Week in Rio de Janeiro.
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