LatAmOil - Latin America Oil & Gas
Colombia gas output hits five-year low as production drops 15%
Colombia's natural gas production declined 15% in the third quarter to an average 1,219mn cubic feet (34.5mn cubic metres) daily, marking the worst quarterly performance in five years as ageing fields deteriorate faster than operators can invest
ExxonMobil Guyana records rapid oil output at Yellowtail project in September
ExxonMobil's Yellowtail development offshore Guyana has achieved rapid production growth, averaging 134,000 barrels per day in September, up from 75,000 bpd in August.
DOF Group, Petrobras extend contract for pipelay support vessels in Brazil
Norway's DOF Group has secured contract extensions worth approximately $100mn for three pipelay support vessels operating in Brazil.
Guyana lifts economic growth forecast for 2025 as oil output spikes
Guyana’s government announced that it has significantly raised its economic growth forecast to 15.2% for 2025, up from a previous estimate of 10.6%, driven primarily by accelerating oil production from the ExxonMobil-led Stabroek Block operations.
Is Venezuela's resource wealth Trump's real target?
The escalating tensions between Washington and Caracas have renewed scrutiny of what some analysts believe may be the true objective behind the Trump administration's aggressive posture: access to Venezuela's extraordinary natural resource wealth.
Fitch upgrades Argentina's Neuquén province to CCC- rating
Fitch Ratings has upgraded Argentina's Province of Neuquén's Long-Term Foreign and Local Currency Issuer Default Ratings to 'CCC-' from 'CC', reflecting improved budgetary performance and reduced refinancing risk.
Melbana Energy abandons Cuban well after failing to recover oil
Australian energy explorer Melbana Energy has commenced abandonment procedures for its Amistad-2 well in Cuba after flow testing failed to recover commercial oil despite intersecting 169 metres of highly porous reservoir
TOFCO completes major milestone in Shell’s Trinidad gas project
The operation, carried out on October 1 and announced on November 2, marks progress in one of the nation’s largest offshore fabrication undertakings
TotalEnergies will add 25,000 bpd of oil within months in Brazil while eyeing battery storage and hydro
French energy major TotalEnergies is advancing offshore oil projects in Brazil that will add 25,000 barrels per day by early 2026, while exploring opportunities in battery storage and hydroelectric power in Brazil.
US pressure on Maduro has little effect on oil markets
Despite holding the world’s largest crude reserves, Venezuela remains largely irrelevant to global energy markets, with output near its lowest in a century
Chevron balances Trump’s Venezuela pressure with century-old stakes
Chevron’s renewed foothold in Venezuela has become a geopolitical tightrope as US military tensions with Caracas escalate.
Brazil’s Lula defends Amazon oil exploration ahead of COP30
Brazilian President Luiz Inácio Lula da Silva said that the country cannot abandon oil use immediately, defending exploration in the Equatorial Margin, off the Amazon coast.
Brazil’s Petrobras boosts production in third quarter, reaches record output in Búzios
Brazilian state oil company Petrobras reported an average output of 3.14mn barrels of oil equivalent per day in the third quarter of 2025, up 7.6% from the second quarter and 16.9% higher than the same period in 2024.
Exxon linked to Latin America climate denial push
Exxon financed US-based Atlas Network to spread climate change denial across Latin America during the 1990s and 2000s, according to unpublished correspondence obtained by DeSmog.
Panama balances growth and decarbonisation in Its energy sector
Panama’s energy sector is undergoing a gradual transformation driven by economic and environmental considerations.
CGX Energy secures loan from Frontera as firms face Guyanese licensing dispute
Canadian oil and gas explorer CGX Energy has secured a $2.5mn senior loan facility from Frontera Energy Corporation, its joint venture partner in Guyana's Corentyne block.
Namibia-focused Sintana Energy outlines diversification aims, Uruguay exposure in Challenger deal
Sintana Energy (TSX-V:SEI) has outlined the strategic rationale behind its proposed all-share acquisition of Challenger Energy (AIM:CEG), highlighting plans to diversify beyond Namibia and gain exposure to Uruguay’s emerging offshore sector.
Allseas wins Petrobras contract for ultra-deepwater Atapu-2 development in Brazil
Allseas has secured a contract from Brazil's state-owned oil company Petrobras to deliver subsea infrastructure for the ultra-deepwater Atapu-2 pre-salt field development, located 230 kilometres offshore Rio de Janeiro.
France’s Vallourec wins major deepwater contract for Shell's Brazil Orca project
Vallourec has secured a contract with TechnipFMC to supply line pipes for Shell Brasil's Orca deepwater development in the Santos Basin.
Brazil’s Petrobras targets 1,100 job cuts in 2026 through voluntary programme
Petrobras aims to reduce its workforce by 1,100 employees, or 2.6%, in 2026 through a voluntary severance programme (VSP) that includes early retirement options.
Brazil’s Petrobras reaches record output in Búzios field at 1mn bpd
Brazil's Búzios oil field has reached record production of 1mn barrels per day (bpd), making it the second field operated by Petrobras to surpass the milestone the company continues expanding output from the prolific Santos Basin pre-salt region.
YPF signs deal with UAE's XRG and Italy's ENI for Argentine LNG project
Argentine national oil company YPF has signed a preliminary agreement with Italian energy giant ENI and XRG, the investment arm of Abu Dhabi National Oil Company, to drive Argentina's first large-scale liquefied natural gas export project.
Paraguay and Qatar linked in controversial multimillion-dollar fuel deal
Paraguay’s state oil company keeps extending a multimillion-dollar fuel deal with a Qatari firm that has never delivered a litre, raising legal, financial, and political concerns.
Argentina's Vaca Muerta attracts new international players, PAGBAM executive asserts
Argentina's Vaca Muerta shale formation could attract new international players from beyond Latin America as the country seeks to capitalise on its unconventional hydrocarbon deposits, according to Francisco Romano, energy partner at law firm PAGBAM.
Guyana's natural gas liquids project draws international interest as 12 global groups apply
Guyana has received twelve proposals for the construction of a natural gas liquids storage and offloading facility with an associated pipeline, marking significant progress in the country's efforts to monetise its offshore gas reserves.
Maduro regime accused of using crypto to evade sanctions
The NGO Transparency Venezuela reported that the regime’s so-called national cryptocurrency system—touted as a symbol of “digital sovereignty”—was in fact used to disguise embezzlement and illegal oil sales between 2017 and 2025
Venezuela’s oil exports slide 26% in October as diluent supplies tighten
The decline followed a five-year export high in September, when stable crude output of roughly 1.1mn barrels a day and steady inflows of light crude and naphtha—mainly from Russia—had bolstered production
Chevron CEO defends continued operations in Venezuela
In an interview with CNBC, Chevron Corp.’s Chief Executive Officer Mike Wirth said Venezuelan heavy crude remains vital for US refineries
Vaca Muerta attracts international investments as confidence grows in Argentina's oil and gas sector
Argentina's state-owned oil firm YPF has secured a $700mn syndicated loan through the Bladex, marking another significant vote of confidence in Argentina's energy sector amid the country's ongoing economic transformation
Chevron balances Trump’s Venezuela pressure with century-old stakes
Chevron, which employs 3,000 people locally, said its priority is “the safety of our personnel, the communities in which we operate, the environment and the integrity of our joint-venture assets.”
Venezuelan oil shipments to US rebound sharply after Trump’s regulatory easing
Data from the Energy Information Administration show that shipments jumped to 39,000 barrels per day in August, up 550% from July’s record low
BP confirms 1,000-metre hydrocarbon column at Brazil discovery, plans 2027 appraisal
BP has confirmed its Bumerangue discovery off the coast of Brazil contains a gross hydrocarbon column of approximately 1,000 metres, including significant liquid volumes.
Brazil's PRIO deploys AI platform to boost offshore operations, cut downtime
Brazilian oil producer PRIO has signed an agreement with Shape Digital to deploy artificial intelligence-driven technology across its offshore operations, aiming to enhance predictive maintenance and reduce operational downtime by approximately 15%.
Brazil’s Eneva makes first natural gas import from Bolivia, eyes Argentina expansion
Brazilian energy company Eneva has completed its first import of natural gas from Bolivia and plans to begin importing from Argentina in coming weeks, marking a significant expansion of the private operator's international supply strategy.
Brazil’s Petrobras in talks with SBM Offshore for two FPSO vessels as Sergipe projects face more delays
Petrobras is negotiating with SBM Offshore over two FPSO vessels for its Sergipe deepwater projects as the company seeks to reduce costs and accelerate delivery timelines that have been repeatedly pushed back/
Brazil’s Petrobras studies logistics base in Amapa as offshore exploration begins
Brazil's state-owned crude oil company Petrobras has authorised studies for a logistics centre in the Amazonian state of Amapa where it started exploring in a promising offshore block in October.
YPF rakes in international investments as confidence in Argentina's oil and gas sector grows
YPF has secured a $700mn syndicated loan through Latin American Foreign Trade Bank, marking another significant vote of confidence in Argentina's energy sector amid the country's ongoing economic transformation.
Visa Energy reports strong financial performance spurred by Argentine production
Vista Energy delivered a strong third quarter in 2025, with production surging 74% y/y to reach a record 126,752 barrels of oil equivalent per day, prompting the company to raise its annual guidance and accelerate drilling activity in Argentina.
US Business Roundtable accuses Mexico's CFE, Pemex of breaching USMCA
Mexico grants certain priorities to the Federal Electricity Commission (CFE) and Pemex that violate the United States-Mexico-Canada Agreement (USMCA) by denying "national treatment to US products", the Business Roundtable (BRT) stated.
Gran Tierra Energy announces new Ecuador discoveries
Gran Tierra Energy announced three significant oil discoveries in Ecuador and secured a $200mn prepayment facility as the company completed all exploration commitments in the Andean nation
Brazil’s Lula defends Amazon oil exploration amid energy debate
Brazilian President Luiz Inácio Lula da Silva said that the country cannot abandon oil use immediately, defending exploration in the Equatorial Margin, off the Amazon coast.
Colombia's Ecopetrol, Brazil's Petrobras forge alliance to market Sirius gas field output
Ecopetrol and Petrobras announced a joint commercialisation scheme for natural gas from Colombia's Sirius field, marking a strategic shift in the Andean nation's pursuit of energy self-sufficiency
Is Venezuela's resource wealth Trump's real target?
As US military forces mass in the Caribbean, Venezuela's oil and mineral wealth emerges as a potential prize in a looming confrontation that will likely result in the ousting of President Nicolas Maduro.
Navigating headwinds, OPEC+ pivots to price defence for Q1 2026
In a significant strategic pivot, the OPEC+ consortium is prioritising market stability and price defence over its recent campaign to recapture market share
Repsol seeks stable framework for Venezuelan gas operations, CEO says
Repsol Chief Executive Officer Josu Jon Imaz said the Spanish energy company is maintaining a “constructive and transparent” dialogue with authorities, including in the United States
Venezuela targets 71% cut in gas flaring by 2030 under new climate plan
The government plans to allocate $7bn through the end of the decade to reduce greenhouse gas emissions, with $1.1bn earmarked for the gas sector
CITGO wins $54mn in appeal over Venezuela oil seizure
The Second Circuit upheld a lower court’s decision requiring a syndicate of reinsurers, including several Lloyd’s underwriters, to pay out under a war-risk policy
Brazil doubles LNG import capacity to shore up energy security
Brazil has more than doubled its liquefied natural gas (LNG) regasification capacity since 2020, expanding from 70.8mn cubic metres per day (cbmd) to 147mn cbmd by August 2025.
Parex discloses $940mn GeoPark takeover bid after board rejection
Parex Resources disclosed a $9-per-share cash proposal to acquire GeoPark for approximately $940mn including net debt after the Colombian oil producer's board unanimously rejected the unsolicited bid and the Canadian company accumulated an 11.8%
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