LatAmOil - Latin America Oil & Gas

Arrow Exploration commences production at Colombian well yielding 824 barrels daily

Arrow Exploration commenced production from its Mateguafa 6 appraisal well on Colombia's Tapir Block, achieving initial output of 824 barrels of oil per day gross (412 barrels net) at heavily restricted rates

Brazil’s Petrobras to cut investment plan for first time under Lula

Brazil's state-owned oil major Petrobras is poised to reduce its five-year capital expenditure (capex) programme for the first time since President Luiz Inácio Lula da Silva took office, as weaker crude prices force the company to tighten spending

Brazil’s Petrobras delays Buzios drilling contracts until 2026

Brazilian state-owned oil major Petrobras is expected to postpone awarding up to four drilling contracts for its Buzios offshore field until 2026, delaying agreements previously scheduled for completion this year.

Brazil’s Petrobras approves SBM Offshore bid for two Brazilian FPSOs

Brazil opens 275 new oil blocks for bidding amid output concerns

Brazil's oil and gas regulator ANP has approved 275 additional exploratory blocks for oil and gas development as authorities seek to address concerns about declining production from the next decade

Elliott-backed Amber wins Venezuela’s Citgo auction as court clears path for sale

A federal judge in Delaware has endorsed a $5.9bn offer from Amber Energy, an affiliate of Elliott Investment Management, effectively positioning the fund to take control of Citgo Petroleum’s parent company

Chevron reroutes tanker as US naval move hits Venezuela’s oil flows

Venezuela has turned to Chevron Corp. to secure a critical shipment of naphtha after a US warship’s manoeuvre near the country’s coastline hindered the passage of a Russian vessel carrying the material

Maduro brandishes Bolívar’s blade — and oil leverage — as US pressure mounts

Nicolás Maduro placed Simón Bolívar’s blade at the centre of a carefully choreographed show of defiance, using the historic sword as the focal point of a vow to resist mounting pressure from the United States

Mexico’s Pemex liquid hydrocarbon output drops 0.6% in October, crude production hits 35-year low

Mexican state oil company Pemex recorded liquid hydrocarbon production of 1.641mn barrels daily in October, representing a monthly decline of 0.6% or 10,000 barrels per day below September levels, El Economista reported.

Mexico’s Pemex liquid hydrocarbon output falls 0.6% in October

Mexican state oil company Pemex liquid hydrocarbon production in October reached 1.641mn barrels daily, showing a monthly decline of 0.6% or 10,000 barrels per day less than reported in September, El Economista reported.

ExxonMobil Guyana's inaugural project lowers back down to initial output levels

ExxonMobil Guyana’s Liza 1 development is retreating toward its original 120,000 barrels per day (bpd) design capacity, according to production data.

Guyana's oil output to reach new heights with Uaru project underway

Guyana is looking to achieve a new oil production milestone, with the $12.7bn Uaru project scheduled to commence operations in 2026.

Maduro weighs oil cargoes as leverage in potential Venezuela-US talks

Venezuela’s Nicolás Maduro is prepared to leverage the country’s crude exports — which overwhelmingly flow to China — if negotiations with Washington gain traction

Global climate conference on fossil fuel transition set for Colombia in April

Pemex, Mexican Petroleum Institute initiate methane reduction programme with World Bank backing

Argentina's YPF enters deal with ENI to explore offshore Uruguay block

Argentina's YPF has entered offshore exploration for the first time, partnering with Italy's ENI to jointly acquire the OFF-5 block 200km off Uruguay's coast.

Colombia's Ecopetrol contracts wind-assisted vessel cutting CO2 emissions 49% on Naphtha route

Ecopetrol contracted a vessel equipped with auxiliary wind propulsion systems for naphtha transport between Cartagena Refinery and Pozos Colorados Maritime Terminal, reducing carbon dioxide emissions 49% compared with conventional vessels

US lawmaker says Venezuela intervention could boost economy via oil

Republican Representative María Elvira Salazar argued that a potential US intervention in Venezuela would yield “very good news for the US economy”

Brazil’s Petrobras signals output push

Petrobras expects oil output to continue rising despite pressure from international prices, Chief Executive Magda Chambriard said.

Staatsolie eases the avalability of 60% of Suriname's offshore acreage to E&Ps

Suriname is preparing for a digital transformation as telecommunications companies Telesur and Orange Global Networks expand the country's international connectivity to support surging data demand driven by offshore oil development.

Argentine oil and gas outlook appears strong following record production

Argentina has achieved a historic milestone in oil production, with output reaching 859,500 barrels per day in October, surpassing the previous record of 847,000 barrels daily set in 1998, according to the Argentine Energy Secretariat.

Colombia's Petro warns Venezuela intervention would push Ecopetrol into loss

Colombian President Gustavo Petro warned that any US military intervention in Venezuela would collapse international oil prices and drive state-controlled Ecopetrol into financial losses, whilst triggering an influx of Venezuelan migrants

Colombia's Ecopetrol charters wind-powered tanker, cutting emissions 49%

Colombia's state-controlled oil company Ecopetrol chartered a vessel equipped with auxiliary wind propulsion technology that reduces carbon dioxide emissions by 49% compared to conventional tankers

Russian tanker reaches Venezuela after days of manoeuvring near US destroyer

A Russian tanker operating under international sanctions has entered Venezuelan waters after a week of evasive movements around a US Navy destroyer

Brazil’s SISTAC extends subsea deal with DOF

SISTAC has agreed a long-term contract addendum with Norway’s DOF Subsea for underwater inspection, maintenance and repair work in the Campos, Santos and Espírito Santo basins serving Petrobras.

Sulzer wins pump order for Brazil FPSOs

Swiss Sulzer has been awarded a contract to provide water injection package systems for Seatrium’s P-84 and P-85 FPSO units that will operate for Petrobras in Brazil, the company said.

Argentina surpasses national oil production record

Argentina has surpassed its 1998 national oil production record, reaching 859,500 barrels per day in October 2025, government data confirmed.

Brazil's Petrobras requested to standardise pre-salt natural gas at minimum 85% methane

Brazil's regulator has determined that Petrobras must standardise natural gas delivered to the market with a minimum content of 85% methane, ending the historic exception granted to gas originating from the pre-salt layer.

Shearwater launches third season of Pelotas Basin seismic acquisition

Shearwater Geoservices has commenced the third season of multi-client 3D seismic data acquisition in the Pelotas Basin offshore Brazil, building on the success of previous campaigns in the area.

Transocean secures $89m contract options in Brazil, Norway, and Romania

Transocean has announced contract fixtures for one ultra-deepwater drillship and two harsh environment semisubmersibles totalling approximately $89mn in firm contract backlog

ExxonMobil mulls purchase of ONE GUYANA FPSO as Payara maintains production record

ExxonMobil Guyana is considering buying the ONE GUYANA floating, production, storage and offloading (FPSO) vessel in early 2026, ahead of the unit's maximum lease end in August 2027, according to SBM Offshore

Brazil's Private Oil & Gas accumulates $93mn in contracts, eyes offshore entry

Brazil's engineering services provider Private Oil & Gas is expanding its presence in the onshore segment, accumulating BRL500mn ($92.7mn) in contracts, and is preparing for a gradual entry into the offshore marke

Colombia's Ecopetrol commits $100mn to LNG terminal

Colombia's state-controlled oil company Ecopetrol will invest $100mn to construct a regasification terminal at its Coveñas maritime facility in Sucre department, injecting imported liquefied natural gas into the national pipeline network

Melbana Energy initiates drilling mobilisation for Cuban production well

Australian energy company Melbana Energy commenced rig mobilisation for a new production well in Cuba's onshore Block 9 concession, targeting year-end completion as operators pivot from recent drilling disappointments

Colombia demands explicit fossil fuel abandonment commitments at COP30 negotiations

Colombia pressed for explicit commitments to phase out fossil fuels at United Nations climate talks in Belém, criticising draft text omissions as approximately 24 nations backed a Colombian declaration seeking concrete transition timelines

Venezuela extends two oil joint ventures through 2041

Venezuela’s National Assembly has approved a 15-year extension for the Boquerón S.A. and Petroperijá S.A. joint ventures, allowing both projects to operate from 2026 through 2041

Trump “peace deals” could push oil lower if Venezuela shifts

Treasury Secretary Scott Bessent said the US economy is benefiting from President Donald Trump’s recent peace agreements and suggested oil prices could slide further if developments unfold in Venezuela

Russian tanker’s abrupt turn sparks questions over US posture in Caribbean

A sanctioned Russian tanker abruptly reversed course while approaching Venezuela after a US destroyer moved across its path, according to Bloomberg’s tanker-tracking data

Venezuela extends Russian oil venture

Venezuela’s National Assembly has authorised a 15-year extension for joint oil ventures between state producer PDVSA and Petromost, a subsidiary of Russia’s Roszarubezhneft