LatAmOil - Latin America Oil & Gas
Brazil’s Petrobras tests remote rig control
Oceaneering has completed its first operation in which a remotely operated vehicle on a drilling rig offshore Brazil was controlled from an onshore centre, in work carried out for Petrobras.
Halliburton eyes Venezuela return as oil sector reopens
Halliburton Co. has entered talks with customers over a potential return to Venezuela, signalling renewed activity in the country’s oil services sector amid shifting political and regulatory conditions
Brazil’s Alvorada expands Venezuela bet as sanctions easing fuels oil ambitions
A Brazilian oil firm is accelerating its push into Venezuela, wagering that looser US sanctions and shifting political conditions will unlock growth in one of the world’s largest hydrocarbon basins
Venezuela creditors engage Trump officials as debt talks loom
Discussions also touched on attempts to restore output in key sectors such as oil, gas and mining, highlighting the importance of energy in any recovery plan
Bolivia diesel crunch strains supply chains as transport sector warns of shutdowns
Fuel shortages are once again disrupting Bolivia’s transport network, with limited diesel supplies triggering long queues, logistical bottlenecks and mounting pressure from industry groups threatening escalation.
Latin America oils up as Hormuz crisis reshapes global energy supply
From Vaca Muerta to the Orinoco, Latin America is sitting on the world's most coveted untapped crude. The Iran war may finally force it to act.
Venezuela oil output rebounds in March, exports climb
Venezuela’s oil production rose sharply in March, signalling a recovery in the sector following disruptions earlier in the year, according to the International Energy Agency.
Latin America’s role in global supply set to increase because of Middle East war
A prolonged oil price near $100 a barrel could give South America a larger role in global supply than many market watchers expected, according to Rystad Energy.
Fracking emerges as an issue in Colombia’s upcoming presidential election
Colombia’s tightening natural gas balance is emerging as a central issue ahead of next month’s presidential election.
Guyana opens $340mn in gas-linked investment opportunities with priority for local investors
Saipem wins $150mn early-phase SURF contract for ExxonMobil's Longtail deepwater project in Guyana
Mexico and Japan agree to deepen energy cooperation as Middle East conflict disrupts global supply
Mexico deploys $290mn weekly fuel subsidy as government warns of spending cuts to sustain price caps
Canadian court reinstates $270mn investor claim against Mexico over Pemex contract terminations
Mexico quietly designs Orión 2 debt vehicle to tackle Pemex's legacy supplier obligations
YPF backs Pemex push into unconventional resources, cites Argentina shale success
Argentina’s energy company YPF has welcomed Mexico’s move to develop unconventional oil and gas resources, with its chief executive saying the opportunity could be significant if public policy and private sector interests are aligned.
Trinidad faces unique growth opportunity amid return of Venezuelan crude and Hormuz closure
Venezuela's re-entry into international oil markets could provide critical feedstock for Trinidad and Tobago's refinery restart ambitions, the Energy Chamber of Trinidad and Tobago said in an April 20 statement.
Brazil gas pipeline sector eyes $6bn in investment after capacity auction
Brazil's second national capacity reserve auction is set to trigger a wave of investment in the country's natural gas pipeline network, with the sector's main transporters planning combined spending of around BRL30bn ($6bn) through 2033.
Brazil’s Coamo bets on corn ethanol push
Coamo has issued BRL500mn ($100.45mn) in debt to fund construction of a corn ethanol plant in Paraná state, according to filings with Brazil’s securities regulator and local media reports.
Argentina provinces launch oil block tenders to boost Vaca Muerta investment
Argentina’s provinces of Neuquén and Mendoza are advancing new licensing rounds for oil and gas blocks as part of a broader push to attract international investment and expand production in the Vaca Muerta shale formation.
Argentina's Neuquén province to auction 15 new oil and gas blocks
Argentina's Neuquén province will auction 15 hydrocarbon areas in August, marking a strategic push by Gas y Petróleo del Neuquén (GyP) to accelerate Vaca Muerta development and attract new investors to the country's most productive shale basin.
Guyana central to solving global oil supply crunch, Wood Mackenzie finds
ExxonMobil's offshore Guyana discoveries have emerged as critical assets in addressing a looming global oil supply deficit, according to new analysis from Wood Mackenzie.
Venezuelan crude revival raises prospect of fresh feedstock supply for Trinidad
Renewed Venezuelan crude exports to the United States have renewed discussion in Trinidad and Tobago about potential feedstock sources for a planned refinery restart, the Energy Chamber of Trinidad said.
Panama Canal auction prices quadruple as Hormuz closure reshapes global energy flows
A Chinese tanker just paid $4mn to jump the Panama queue. With Hormuz near-closed, the canal has become the world's most contested shipping lane — and prices are only heading one way.
Bolivia says Morales-era gas nationalisation failed as output plunges
Bolivia’s government has sharpened its criticism of the hydrocarbons nationalisation model introduced in 2006 under Evo Morales, arguing that the policy failed to deliver long-term stability as falling production erodes export revenues.
Uruguayan court backs offshore seismic survey in win for Chevron-licensed exploration
A Montevideo civil court last week ruled in favour of offshore hydrocarbon exploration off Uruguay's coast, rejecting a bid by environmental groups and fishing unions to suspend seismic survey work being carried out by Viridien on a Chevron block.
Oil price divergence in a time of crisis
Colombia's TGI seeks awards for eight gas projects in national supply push
Transportadora de Gas Internacional has submitted bids for eight natural gas infrastructure projects worth about $500mn as Colombia seeks to expand supply capacity and address an anticipated deficit
Colombia's Valencia pledges fracking push as nation gas debate shapes election
Colombian presidential candidate Paloma Valencia said Colombia should expand domestic oil and gas production, including hydraulic fracturing, to address a growing gas supply deficit, injecting energy security more directly into the election debate
Sirius gas project advances as Colombia consultations pass halfway mark
Colombia’s Sirius offshore gas project has completed more than half of the 120 prior consultations required for development, marking progress for a project seen as central to easing the country’s gas supply constraints.
Belarus Lukashenko warns US against Cuba escalation as energy pressure deepens
Belarusian President Alexander Lukashenko warned the United States against military action involving Cuba, while renewed pressure on Havana through US measures targeting oil supplies has heightened geopolitical and energy risks
Colombia's Ecopetrol advances regasification projects as nation seeks gas supply buffer
Ecopetrol is accelerating three regasification projects, with two expected to begin operations in 2026, as Colombia moves to bolster natural gas supply amid declining domestic fields and rising import dependence
US, Cuba resume direct talks as energy crisis raises stakes
US and Cuban officials held talks in Havana this month in the first confirmed US government flight to the island outside Guantánamo Bay since 2016, as Washington pressed for economic reforms and Havana sought relief from energy restrictions
Machado courts Spanish backing, eyes energy investment in Venezuela
Machado argued that global developments have underscored the importance of reliable partners in the West, pointing to the country’s capacity in oil, gas and electricity
Brazil oil royalties fight reaches top court
Espírito Santo state will argue before Brazil’s Supreme Federal Court on May 6 that Law 12,734 of 2012, which redistributes oil royalties to non-producing regions, is unconstitutional.
Brazil’s Petrobras nears output at Buzios 8
Petrobras has concluded the interconnection phase for the Búzios 8 project, clearing the way for initial output from the P-79 platform in the Búzios field, pending approval from Brazil’s oil regulator ANP.
Colombia's Petro to hold Caracas talks with Rodríguez on trade, energy, security
Colombian President Gustavo Petro will travel to Caracas on April 24 for talks with Venezuela’s acting president, Delcy Rodríguez, focused on security, trade and energy cooperation
Guyana's fifth offshore project Uaru to use more subsea tiebacks than any previous Stabroek development
Fossil fuel exit summit tests energy security resolve as nations meet in Colombia
More than 50 countries will gather in Santa Marta on April 28-29 for the first international conference dedicated to a fossil fuel phaseout, as an energy shock linked to disruptions around the Strait of Hormuz sharpens debate over balancing climate
German trader who made $250mn on Russian crude pivots to Guyana with $60mn investment plan
Mexico's Amigo LNG targets final investment decision in May
Mexico’s Amigo LNG is targeting a final investment decision on May 20.
Brazil flags risks from energy shocks
Brazil supports guidance for central banks to factor in energy price shocks when setting policy, given uncertainty over their duration, Finance Minister Dario Durigan said.
Fuel surge slows, but gaps persist in Brazil
Venezuela engages oil majors ConocoPhillips and ExxonMobil, Repsol inks agreement
Delcy Rodríguez said authorities have been holding discussions with multiple companies and recently signed an agreement with Chevron to expand its operations
South Korea contacts Mexico and Brazil for energy cooperation as Hormuz disruption bites
South America turns to LPG to support energy transition and curb fuel volatility
South American countries are increasingly turning to liquefied petroleum gas (LPG) as part of their energy transition strategies and to mitigate fuel price volatility.
Argentina taps Naturgy in LNG tender to secure winter gas supply
Argentina has moved to secure natural gas supplies for the upcoming winter after Spain’s Naturgy submitted the lowest bid in a tender to import liquefied natural gas (LNG).
China pledges "firm support" for Cuba amid escalating US pressure, Trump threats
China pledged "firm support" for Cuba against continued US threats, with Foreign Ministry spokesman Guo Jiakun stating Beijing opposes coercive diplomacy and will back Havana's defence of national sovereignty
Mexico moves to re-start fracking
Mexico is moving toward a potential reopening of hydraulic fracturing as part of a broader push to reduce heavy dependence on imported gas, a shift that marks both a strategic pivot in energy policy and a political departure from past commitments.
Three oil majors deepen footprint in Venezuela
Texas-based Chevron Corp. has agreed to expand its position in Venezuela’s Orinoco Belt through a pair of deals with state oil company PDVSA.
Argentina’s Vaca Muerta boom faces infrastructure bottlenecks despite rising output
Argentina is on track to reach record oil production driven by the Vaca Muerta shale formation, with officials and industry executives pointing to strong export potential.
US energy envoy visits Caracas as Chevron deal signals deepening oil ties
The agreement, signed at Miraflores Palace, increases Chevron’s stake in the Petroindependencia joint venture to 49% and grants access to develop the Ayacucho 8 block as part of the Petropiar project with state-owned Petróleos de Venezuela
Chevron expands Venezuela footprint with Orinoco deals
Chevron Corp. has struck two agreements with Venezuela’s interim government that will allow the US oil major to consolidate and expand its position in the country’s extra-heavy crude sector, reinforcing its dominance in the Orinoco Oil Belt
Venezuela oil output rebounds in march as exports climb, IEA Says
Venezuela’s oil production rose sharply in March, signalling a recovery in the sector following disruptions earlier in the year, according to the International Energy Agency (IEA)
Venezuela confirms PDVSA leadership as Rodriguez’s government revamps executive team
Venezuela’s interim president Delcy Rodríguez has ratified Héctor Andrés Obregón Pérez as president of state oil company Petróleos de Venezuela SA, reaffirming leadership at the core of the country’s energy sector
Venezuela oil exports jump after Maduro’s capture, output expands
“In round numbers, probably 150mn barrels of Venezuelan oil have been sold — probably a little more than that, but something like that — since Jan. 3,” Wright said at an event in Washington
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