LatAmOil - Latin America Oil & Gas
Brazil advances new equatorial oil blocks
Brazil's oil regulator approved the nomination of 86 offshore exploration blocks for technical studies that could lead to their inclusion in future licensing rounds under the Permanent Concession Offer (OPC).
Karol G tells Colombia's president-elect to govern "for everyone" — and triggers a three-way public exchange
Colombia's biggest companies lift profit as commerce dominates revenue
Colombia's 10,000 largest companies generated combined net profit of COP138.6 trillion (about $40.9bn) in 2025 as operating revenue rose 5% to COP1,853 trillion (about $546.3bn), broadly equivalent to the country's nominal gross domestic product
Italy’s Eni and UAE’s XRG acquire upstream assets of Argentina LNG
Italian energy firm and United Arab Emirates’ energy company XRG have acquired stakes in the upstream assets of Argentina LNG.
TotalEnergies to commence new drilling offshore Suriname
TotalEnergies confirmed that it is expanding its exploration footprint offshore Suriname with a multi-well drilling campaign that could unlock additional discoveries alongside its $10.5bn Gran Morgu project.
Petronas confirms new gas discovery offshore Suriname
Petronas has found a new gas discovery at Suriname's offshore Block 52, marking the Malaysian national oil company's eighth successful exploration well in the acreage.
TotalEnergies begins training for Suriname's GranMorgu development
TotalEnergies is sending Surinamese engineers to train overseas producing assets in preparation for the upcoming GranMorgu development in 2028, Artur Nunes da Silva, General Manager of TotalEnergies Suriname confirmed.
SBM Offshore locks in $465mn financing for Mexico's Trion FSO
Deepwater financial engineering: SBM Offshore locks in a unique $465mn hybrid package for Mexico's Trion field, blending commercial debt, institutional capital, and Chinese export credit insurance to slice sovereign risk thin.
Latin America confronts uneven methane challenges as new analysis maps cost‑effective fixes
Mexico, US and Canada to hold virtual talks on USMCA review
Mexican President Claudia Sheinbaum said the United States and Canada will hold a virtual meeting to review the United States-Mexico-Canada Agreement (USMCA) on July 1. The Mexican government seeks to secure a 16-year extension.
Venezuela says oil output holds at 1.2mn barrels a day despite earthquakes
Venezuela's crude production has remained steady at 1.2mn barrels a day despite the twin earthquakes that struck the country on June 24, Hydrocarbons Minister Paulo Henao said
PDVSA rig blast leaves one dead, 16 injured
Energy statistics show we remain an overwhelmingly fossil fuel-based world
Renewables are growing fast, but oil and gas by far still dominate the global energy system.
Argentina's energy inflows ease pressure on agriculture as profit remittances rise
Argentina’s energy and mining sectors are playing an increasingly important role in generating foreign currency inflows, reducing the economy’s dependence on agricultural exports.
YPF brings in Eni and XRG for Vaca Muerta LNG export venture
Argentine state oil firm YPF has signed agreements with Italy’s Eni and Abu Dhabi-based XRG to join the upstream development of Argentina LNG, a $20bn liquefied natural gas export project linked to Vaca Muerta.
Brazil's antitrust watchdog clears Subsea7-Saipem merger without conditions
The general superintendence of Brazil's antitrust regulator CADE has approved the proposed merger between energy contractors Subsea7 and Saipem without restrictions.
Brazil's ANP publishes qualified bidder list for October oil and gas auctions
Brazil's oil and gas regulator ANP released the list of companies qualified to participate in the next cycles of the Permanent Sharing Offer and the Permanent Concession Offer, both scheduled for October 7.
Brazil’s Petrobras overtakes MercadoLibre as Latin America's most valuable Wall Street company
Petrobras has overtaken e-commerce major MercadoLibre as the most valuable Latin American company listed on Wall Street as commodity prices rose sharply, driving a broad rotation of capital towards cash-generative, dividend-paying companies.
Brazil's Petrobras Búzios field hits record 1.1mn barrels per day output
Petrobras said its flagship Búzios field in the Santos Basin pre-salt province has reached a record average daily output of 1.1mn barrels of oil, surpassing the previous milestone of 1mn barrels per day set in October 2025.
Brazil’s Braskem bets on polymers price recovery, agrees $3.7bn debt overhaul
Braskem is pressing ahead with plans to ramp up production and lift plant efficiency to 85% by December, while simultaneously banking on a multi-year price recovery to underpin a $3.7bn debt restructuring agreed.
Brazil faces trade-off between fossil fuel phaseout and tax revenue, says Petrobras CEO
The CEO at Brazil's state-owned oil company Petrobras said the country must choose between moving away from fossil fuels and preserving the tax revenue the sector generates, in remarks that highlight tensions in Brazil's climate policy.
Energy consultancy ABL opens new Bahia office to expand Brazil asset integrity services
UK energy and marine consultancy ABL has opened a new office in Salvador, Brazil’s state of Bahia, expanding its footprint in the country as it targets growing demand from the oil and gas, maritime, and industrial sectors.
TGS and SLB launch 13,500 sq km seismic survey in Brazil's Pelotas Basin
Norwegian energy data company TGS and oilfield services group SLB have launched a multi-client 3D seismic survey covering approximately 13,500 square kilometres in the Pelotas Basin offshore southern Brazil.
France's GreenYellow expands Colombia industrial solar footprint with new Meta project
GreenYellow Colombia has commissioned a 1.45MWp self-generation solar park for Cerámica Industrial del Meta (CIMET) in Acacías, Meta department, a project expected to generate about 2.2GWh of electricity annually and supply around 30%
Colombia gas reserves shrink as offshore prospects offer supply hope
Colombia's proven natural gas reserves fell 16.8% in 2025 to 1,717bn cubic feet (48.62bn cubic metres), reducing the country's reserve life to 5.9 years at current production rates, while oil reserves slipped 0.7% to 2.02bn barrels
Guyana defies the global exploration drought
Guyana defies the global exploration collapse. As high-impact drilling hits a historic low, the maturing Guyana-Suriname basin shifts from frontier wildcatting to surgical extraction, with Exxon’s Stabroek block pumping 900,000bpd.
Pemex restarts operations at Olmeca refinery after power disruption
State oil company Petróleos Mexicanos (PEMEX) said operations would restart at their Olmeca refinery in Tabasco after a power disruption forced its shutdown on June 24.
Reports show Mexican government support for Pemex generates net fiscal loss
A recent multilateral report by various Mexican government agencies shows that federal support for Petróleos Mexicanos (Pemex) has produced a net fiscal loss for the country.
Venezuela’s Amuay refinery halts operations after power outage
Venezuela’s largest refinery, the 645,000-barrel-per-day (bpd) Amuay facility, was forced to shut down after a power outage on June 28
Gold Reserve commits $1mn to Venezuela earthquake relief
Gold Reserve Ltd. said it will donate $1mn to support emergency relief and reconstruction efforts in Venezuela following the catastrophic earthquakes that struck the country on June 24
Shell pledges $5mn for Venezuela earthquake relief
Shell said it will provide $5mn in humanitarian assistance to support relief and recovery efforts in Venezuela following the earthquakes that struck the country on June 24
Brazil’s JBS steps up biomethane investment
JBS and Âmbar Energia will invest BRL65mn to expand biomethane production from waste generated at Friboi facilities, aiming to almost quintuple output for use in the group's industrial operations and transport network.
Brazil’s oil export tax delivers first revenue boost
Brazil's temporary export tax on crude oil generated BRL1.05bn ($200mn) in federal revenue in May, marking the first proceeds from the levy introduced in March.
Perenco moves to revive idle Brazil oil platforms
French engineering company DORIS is supporting Perenco Brazil in the redevelopment of two offshore platforms in Brazil's Campos Basin that have been idle since 2020.
Brazil taps oil windfall to cushion fuel prices
Brazil used windfall oil-export revenues generated by a spike in crude prices after US and Israeli strikes on Iran to cushion the impact of higher fuel costs on consumers, Planning and Budget Minister Bruno Moretti said.
Colombia new-car sales jump 50.1% in first half as electric vehicles surge 235% to four in ten registrations
Ecuador adds 35,000 bpd of crude capacity via Petroecuador campaign, ministry says
Ecuador added 35,000 barrels of crude production capacity in the first five and a half months of 2026 through a sustained campaign of drilling.
Argentina’s Néstor Kirchner gas pipeline generated $9bn in savings over three years, report says
Argentina’s Néstor Kirchner gas pipeline, now renamed Perito Moreno, generated cumulative savings of $9.1bn over its first three years of operation by reducing energy imports.
Colombia wins WorldCup — claims global butterfly competition crown with record species documentation
Fitch confirms BB rating on Colombia's Promigas' $920mn hybrid bond issue
Fitch Ratings assigned a final BB rating to Promigas and its Peruvian co-issuers' $920mn subordinated hybrid notes, confirming its earlier expected rating after reviewing the final transaction documents, the agency said
Repsol turns Venezuela into a new opportunity after years of losses
The Spanish oil company, which spent years dealing with financial challenges in Venezuela, is now positioned to turn a troubled investment into a potential growth driver
Mexican fracking committee heavily weighted towards industry, analysis shows
A 47-member scientific panel tasked with advising President Claudia Sheinbaum and the Mexican government on whether to legalise hydraulic fracking has more than twice as many pro-oil industry profiles as critics.
Colombia's De la Espriella sets Fiscal repair, fossil fuel energy revival at core of economic agenda
Colombia’s president-elect Abelardo de la Espriella is preparing an economic programme centred on fiscal consolidation, renewed oil and gas development, infrastructure expansion and housing incentives as his administration seeks to revive growth
Colombia's De La Espriella nears cabinet announcement ahead of August transition
Colombia’s president-elect Abelardo de la Espriella is expected to unveil members of his incoming administration in the coming days after holding meetings with close advisers to assess ministerial candidates and prepare the transition
Colombia's Ecopetrol extends slide as investors lock In gains after election rally
Shares of Ecopetrol extended losses on June 24 after falling more than 10% over two trading sessions on Colombia’s stock exchange, as investors took profits following a sharp rally linked to expectations surrounding the election of president-elect
Chevron says Venezuela operations unaffected after deadly earthquakes
Chevron Corp. said its Venezuelan operations continue to function normally following the pair of powerful earthquakes that struck the country, as energy companies and authorities assess damage in regions near the epicentre
Bolivia's fuel suppliers Vitol, Trafigura owed nearly $500mn, minister admits
Bolivia owes close to $500mn to fuel suppliers Vitol and Trafigura, hydrocarbons and energy minister Marcelo Blanco acknowledged in an interview with Radio Fides on June 24.
Brazil delays vote on higher ethanol blend in gasoline
Brazil has postponed a meeting of the National Energy Policy Council (CNPE) that was due to consider raising the mandatory share of anhydrous ethanol in gasoline from 30% to 32%, the Ministry of Mines and Energy said.
Brazil eyes end to fuel subsidies as falling oil prices erode rationale for price intervention
Brazil's government is preparing to wind down its fuel subsidy programme as oil prices retreat toward $80 per barrel following the US-Iran peace agreement, with officials signalling the measures could be scrapped as early as this month.
Brazil companies rush into Venezuela as Eneva eyes gas power deals in reopening market
Brazilian energy company Eneva is exploring potential deals in Venezuela's gas-fired power sector while a delegation of around 30 Brazilian companies descended on Caracas earlier in June for meetings with senior Venezuelan officials.
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