LatAmOil - Latin America Oil & Gas
Perenco plans $110mn power upgrade in Brazil
Perenco plans to invest $110mn to connect its Campos Basin oil platforms to Brazil’s national electricity grid through Porto do Açu, replacing part of the gas-fired power generation currently used offshore.
US EXIM offers $550mn for Guyana Gas-to-Energy phase two
The United States Export-Import Bank (US EXIM) may lend up to $550mn to finance the second phase of Guyana's Gas-to-Energy (GTE) project at Wales, West Bank Demerara.
Venezuela puts debt restructuring on hold to prioritise oil deals
Venezuela's interim government under President Delcy Rodríguez has reportedly decided to postpone the restructuring of its external public debt and the obligations of state oil company Petróleos de Venezuela (PDVSA).
Former Vitol trader gets four years for Ecuador and Mexico bribery scheme
Javier Aguilar, a former oil trader at Vitol, one of the world's largest energy trading firms, was sentenced on September 18 to four years in US prison over his 2024 conviction on corruption charges.
Mexico's Sheinbaum confronted energy officials over Pemex's fuel output slide
Mexican President Claudia Sheinbaum angrily confronted top energy and finance officials at a late-July meeting after second-quarter data showed Pemex's gasoline and diesel output falling even as the country leaned more heavily on costly imports.
Vitol and Trafigura push for deeper Venezuelan crude discounts
International oil traders Vitol and Trafigura are demanding deeper discounts on Venezuelan crude as record ocean freight rates eat into their margins.
Bolivia's oil chamber urges new rules to revive collapsing hydrocarbons sector
Bolivia's Chamber of Hydrocarbons and Energy (CBHE) called on the government on September 21 to establish a new regulatory framework to recover investment and rebuild oil and gas reserves.
Bolivia scraps diesel subsidy for small consumers as gas output collapse forces reckoning
Bolivia's government under President Rodrigo Paz eliminated the diesel subsidy for small consumers on September 19, nearly doubling the price per litre from 9.80 to 17.95 bolivianos (roughly $1 to $1.83).
Trump and Venezuela’s Rodríguez hold first meeting since Maduro's capture
US President Donald Trump met Venezuela's interim President, Delcy Rodríguez, in New York on the evening of September 22, in their first sit-down since Washington's January operation to remove Nicolás Maduro.
Grupo Carso's $1.43bn Mexico Centauro del Norte pipeline faces second-phase delay risk
Grupo Carso's $1.43bn Centauro del Norte natural gas pipeline, designed to bring cheaper US Permian basin gas to power plants in northwestern Mexico, faces potential delays to its second phase amid territorial risks and conflicting progress reports.
Argentina's Puerto Rosales receives loading arms to expand crude oil shipping capacity
OTAMERICA’s Puerto Rosales terminal in Buenos Aires has received the loading arms that will be installed at the third operating position of its new pier, as part of the Rosa Negra project to expand the facility’s capacity to load crude oil.
YPF to seek financing agreements in New York during Argentina-US forum
Falkland Islands extend offshore oil licences for five years
The Falkland Islands (also known as Malvinas) government has extended all existing offshore oil licences for an initial five years, with a possible two-year extension for companies that meet their work commitments.
Petroecuador boosts output as new Drago field well adds 1,543 bpd
Ecuador's state oil company Petroecuador has brought a new well online at the Drago field in the Ecuadorean Amazon, adding 1,543 barrels of daily output and generating an estimated $4mn in additional monthly revenue.
Ecuador posts South America's lowest inflation in August at 1.12%
Veteran Chevron oilman says PDVSA is freezing him out despite $2bn Venezuela fund
Ali Moshiri, the veteran oil executive who steered Chevron's decision to remain in Venezuela through years of political upheaval, says state oil company PDVSA is now freezing him out despite lining up $2bn from roughly 15 investors
US faces scrutiny over Venezuela oil revenues as Congress seeks audit
The US State Department is facing growing pressure from Congress to disclose how much revenue Washington has collected from Venezuelan oil sales and how the funds have been used
IDB prepares two-year Venezuela plan focused on power and social needs
US Wright says Venezuela will hold elections, gives no date
US Energy Secretary Chris Wright said Venezuela will eventually hold elections but gave no timetable, while saying Washington’s immediate focus is economic stabilisation and that Continental Resources plans to invest about $2bn in Venezuelan oil
Brazil’s Petrobras says Foz do Amazonas oil could rival pre-salt
Oil recovered from Petrobras’ Morpho exploration well in Brazil’s Foz do Amazonas basin could be of higher quality than crude from the country’s pre-salt fields, as the state-run producer prepares to drill nearby wells next year.
Technip Energies wins project management role on Mexico's Amigo LNG scheme
Technip Energies (Euronext:TE) (NYSE:TE) has been appointed by Amigo LNG, a Mexican joint venture between Texas-based Epcilon LNG and Singapore's LNG Alliance, as enhanced project management consultant (ePMC) on the Amigo LNG project in Mexico.
Mexico seizes 371,000 barrels of fuel at Bajio terminal amid tax fraud probe
Mexican federal prosecutors (FGR) seized around 371,000 barrels of petrol and diesel at a major rail-linked storage terminal in the Bajio region.
Chile weighs ethanol blend for petrol as soaring oil costs squeeze budget
Chile, one of Latin America's largest oil importers, is studying a shift to E10 ethanol-blended petrol as spiking oil prices strain the economy and public finances, according to documents seen by Reuters.
Moody's upgrades Petro-Perú outlook to positive after $475mn bridge loan
Moody's Ratings has kept Petro-Perú's credit rating at Caa1, or "junk bond" status, but upgraded its outlook from negative to positive, citing the Peruvian government's demonstrated willingness to support the state oil company.
Colombia's Ecopetrol new board faces test on leadership, reserves and capital
Ecopetrol’s new nine-member board faces a broad agenda of leadership, capital allocation and reserve replacement challenges after shareholders replaced six directors on September 15, as the Colombian oil company comes under greater scrutiny
US Continental Resources plans about $2bn Venezuela oil project
Continental Resources plans to invest about $2bn in developing an oil project in Venezuela, with spending directed towards new wells and higher oil and gas output, US Energy Secretary Chris Wright said
Colombia's Ecopetrol weighs Venezuela oil, gas and power opportunities after board overhaul
Ecopetrol is facing a set of potential energy businesses in Venezuela as political and regulatory conditions change, while its newly renewed board prepares to set the company’s strategy
Brazil drives Miros offshore expansion
Miros won more than 10 offshore technology contracts in South America from January to September 2026, with Brazil generating most deals and further work in Guyana.
CoreMarine expands Brazil offshore operations
CoreMarine has acquired Brazilian offshore construction company BravOcean as it seeks to expand its presence in Brazil’s subsea market.
Petrobras joins Brazil diesel subsidy scheme
Petrobras’ board has approved the state-controlled oil company’s participation in a government programme that will provide a BRL1 ($0.19) per litre subsidy for diesel for 30 days, with the measure eligible for another 30-day extension.
Cuba power grid collapse deepens energy crisis
Cuba’s electricity grid suffered a nationwide collapse on September 18, leaving millions without power as fuel shortages and ageing infrastructure put further strain on the country’s energy system
Noboa seeks US oil investment as Ecuador targets 500,000 bpd by 2027
Ecuadorean President Daniel Noboa said he is negotiating with foreign companies to lift the country's oil production to half a million barrels a day by 2027, whilst pressing Washington for greater private investment rather than aid.
Bolivia's YPFB rules out petrol price rise, calms fears over new diesel decree
Bolivia's state oil company YPFB said on September 21 that petrol prices remain unchanged, dismissing speculation triggered by the entry into force of Supreme Decree 5716, which updates the country's diesel pricing regime.
Bolivia relaunches refineries to process imported crude, cut fuel shortages
Bolivia's state oil company YPFB began processing imported crude at its refineries on September 18, aiming to boost domestic output of petrol, diesel and jet fuel and ease fuel shortages, according to local press.
ExxonMobil to survey environmental conditions offshore Guyana
ExxonMobil (NYSE: XOM) will start a new environmental monitoring campaign in Guyana's Stabroek Block on September 27.
Halliburton seeks vendor to upgrade Guyana mud plant
Halliburton (NYSE: HAL) is looking for qualified vendors to upgrade the oil-water separator at its liquid mud plant in Guyana.
Vallourec wins Brazil contract for Petrobras’ Sepia 2
Vallourec has secured a contract from Subsea7 to supply carbon steel line pipe and thermal insulation coating for Petrobras’ Sepia 2 project in Brazil’s pre-salt Santos Basin, with the award covering about 130 km of rigid risers and flowlines.
Brazil’s Petrobras secures 20-year US LNG deal
Petrobras has agreed to buy 800,000 tonnes of liquefied natural gas a year from Sempra Infrastructure for 20 years, with supplies coming from the Port Arthur LNG Phase 2 project under construction in Texas.
Fitch affirms Vista Energy Argentina at BB- after bond reopening
Vista Energy Argentina S.A.U.'s reopening of its senior notes due 2038 will not alter the company's 'BB-' long-term foreign- and local-currency issuer default ratings, Fitch Ratings said on September 21.
Argentina's San Antonio Este port speeds up Vaca Muerta pipeline work
Argentina’s San Antonio Este port in Río Negro has completed the unloading of 3,340 pipes for the San Matías Pipeline in 53 hours, ahead of the arrival of two more vessels scheduled for October, as construction advances on the 472-kilometre pipe
Argentina’s TGN plans $2.2bn Vaca Muerta gas pipeline
Argentina's Mendoza awards two oil exploration blocks with $6mn investment commitment
Argentina’s Mendoza province has awarded the Río Atuel and Atuel Exploración Sur hydrocarbon exploration blocks to Petroquímica Comodoro Rivadavia (PCR) and Hattrick Energy, respectively.
Argentina's Vaca Muerta bidders offer more than $410mn for eight new areas in Neuquén
Oil companies have offered more than $410mn in bonuses and exploration commitments for eight new areas in Vaca Muerta as part of the first round of Neuquén’s 2026 Exploration Plan.
YPF’s Marín says Argentina LNG is company’s top project, targets 2026 FID
YPF Chief Executive Horacio Marín said the $24bn Argentina LNG project being developed with Eni and XRG is now his and the company’s most important undertaking, with a final investment decision expected by the end of 2026.
Brazil’s Petrobras eyes diesel self-sufficiency, new frontiers in Colombia, Amazon and Ivory Coast
Brazil's Petrobras is pursuing self-sufficiency in diesel production and plans to announce significant new gas discoveries in Colombia.
Chevron bets on new seismic data to evaluate Brazil’s Amazon River estuary blocks
SLB and Shearwater GeoServices will begin a multi-client 3D seismic survey in ultra-deep waters off the Brazilian state of Amapá, in the Amazon River Mouth Basin, to assess the potential for oil and gas discoveries, US oil major Chevron said.
Argentina's TGN to invest $2.2bn in Vaca Muerta gas pipeline expansion
Transportadora de Gas del Norte (TGN) plans to invest about $2.2bn in a new pipeline system to expand the evacuation and distribution of natural gas from Argentina’s Vaca Muerta shale formation
Guyana's oil lifts from Stabroek block to double in 2026
Guyana is projected to receive 84 one-million-barrel oil lifts from the ExxonMobil-operated Stabroek Block this year, more than double the 40 anticipated when the 2026 budget was drawn up.
Asset manager Copernico says US pivot makes Venezuela a strategic investment case
Uruguayan asset manager Copernico said Washington's growing interest in Venezuelan oil and minerals is changing how the country's assets should be valued, arguing that some of the risks that have long depressed prices are receding.
TotalEnergies-led GranMorgu project in Suriname on course for mid-2028 start-up
TotalEnergies (EPA:TTE) and its partners are still aiming to begin production at the $12 bn GranMorgu development off Suriname in mid-2028, Staatsolie chief executive Annand Jagesar said on September 19.
Halliburton signs Venezuela MOUs with Brazil's Eneva and WESCA
Halliburton (NYSE:HAL) said it has signed memorandums of understanding with Brazil's Eneva (BVMF:ENEV3) and with WESCA to support energy development in Venezuela's oil and gas sector.
US crude imports from Venezuela hit nine-year high of 782,000 bpd
US crude imports from Venezuela jumped to 782,000 barrels a day (b/d) in the week to September 11, the highest since August 2017, Energy Information Administration (EIA) data show.
Brazil’s Petrobras expands African footprint with new exploration blocks in Ivory Coast
Brazil's Petrobras said its subsidiary Petrobras Netherlands BV had signed production-sharing agreements for eight offshore exploration blocks in Côte d'Ivoire, deepening its push into Africa's equatorial margin.
Brazil’s Braskem stock to underperform, debt restructuring carries dilution risk of up to 95%, says UBS
TotalEnergies is officially planning a return to Venezuela
French major TotalEnergies is the latest international oil producer to sign an agreement to return to Venezuela
Harbour Energy sees Argentina as growth market, with focus on Vaca Muerta and LNG
Harbour Energy sees Argentina as one of its main markets for future growth, with Chief Executive Linda Cook highlighting the potential of Vaca Muerta and liquefied natural gas as the British oil producer expands its operations.
Milei sends tougher Falklands sanctions bill to Congress as Argentina-UK tensions rise
Argentine President Javier Milei sent Congress on September 17 a bill to strengthen sanctions against companies and individuals involved in unauthorised natural-resource activities around the Falkland Islands amid growing tensions.
Argentine court orders halt to Sea Lion oil project in Falkland Islands
An Argentine federal court on September 16 ordered Israeli oil company Navitas Petroleum and Britain’s Rockhopper Exploration to halt work needed to develop the Sea Lion offshore oil project in the Falkland Islands (also known as Malvinas).
Exxon in talks to return to Venezuela's Orinoco Belt after nearly 20 years
ExxonMobil is negotiating a return to Venezuela nearly two decades after exiting the country, showing interest in the Petromonagas heavy-oil project in the Orinoco Belt and adjacent areas of the Carabobo block
Chile eyes ethanol blend to cut $107mn fuel bill as oil prices squeeze budget
Chile is weighing adoption of ethanol-blended petrol as this year's oil price spike strains the economy and public finances
Colombia industrial output rises 1.5% through July as power sector leads
Colombia’s industrial production increased 1.5% in the first seven months of 2026, led by electricity and gas supply, even as output fell 0.3% year-on-year in July
Colombia's Ecopetrol bylaws overhaul clears way for full board resets, CEO decision expected next week
Ecopetrol shareholders approved a reform to Article 20 of the company's bylaws on September 15, scrapping a rule that required at least three members of the outgoing board to remain in place
Colombia's Ecopetrol approves government-backed board overhaul
Colombia’s state-controlled oil company Ecopetrol approved a government-backed overhaul of its nine-member board, as the company faces leadership changes and scrutiny over alleged irregularities
Guyana more than doubles its 2026 oil revenue forecast to $6.5bn
Guyana expects to earn $6.5bn from oil sales and royalties in 2026, more than twice its previous estimate of $2.7bn, the government said on September 14.
Pemex completes repair of Ek-Balam subsea pipeline after Gulf of Mexico oil spill
Petróleos Mexicanos (Pemex) has completed repairs to the subsea pipeline at its Ek-Balam field, following damage to a section that caused a crude oil spill some 46 nautical miles off Ciudad del Carmen, in Campeche state.
Borr Drilling exits Mexican joint venture to streamline structure
Borr Drilling sells its 51% stake in Mexican JV Perfomex to its local partner but keeps its three jack-up rigs under bareboat charters with Pemex, simplifying its structure as it expands its independent fleet across Mexico's shallow-water market.
Guyana cannot tear up Exxon's Stabroek deal, President Ali says
Guyana's president rules out renegotiating ExxonMobil's Stabroek Block deal, citing contract sanctity, as new PSA terms apply only to future licences.
Guyana to launch national petroleum data repository in fourth quarter
Guyana will launch a centralised petroleum data repository in Q4 2026, consolidating seismic and drilling data as it prepares for fresh offshore licensing rounds.
Venezuela turns G20 energy forum into platform for US oil investment
Venezuela used the G20 energy meetings in Houston to deepen its oil partnership with Washington, as US companies move to secure projects across the country’s vast but underdeveloped reserves.
Continental Resources signs deal to explore Venezuela's Orinoco oil belt
Continental Resources, the oil producer controlled by US billionaire Harold Hamm, signed a non-binding agreement with Venezuela's state oil company PDVSA on September 16 to explore a heavy-crude field in the Orinoco Oil Belt.
Armstrong sees five-year wait for first oil from Venezuela offshore block
Armstrong Oil & Gas expects its 5mn-acre offshore Venezuela project could take around five years to reach first production if exploration identifies commercially viable reserves.
Turkish group commits $382mn to expand Venezuela oil output
Çan2 Termik will invest $381.7mn over 20 years to raise production at Venezuela's CEMA oil field from 400 bpd towards 9,865 bpd, redirecting part of its capital from renewable energy projects.
Foreign oil and gas companies cautiously move forward in Venezuela
A number of foreign companies are advancing their plans to develop oil and gas in Venezuela.
Brazil’s Lula cuts gasoline taxes, creates additional diesel subsidy weeks before election
Brazilian President Luiz Inacio Lula da Silva has signed a decree cutting gasoline taxes and a provisional measure creating an additional diesel subsidy.
YPF raises $1.2bn in international debt issue at lowest rate in company history after S&P lifts forecasts but keeps rating capped
Argentine oil producer YPF has raised $1.2bn through a nine-year international bond issue at an effective interest rate of 7.85%, the lowest borrowing rate in the company’s history.
Pemex renames Cuba oil shipper twice as crude exports quietly stop amid stalled US-Cuba energy talks
Mexican state oil company Pemex has renamed the company it uses to ship fuel to Cuba for the second time in under six months, while sharply scaling back exports to the island.
US firms Heeney Capital, Continental Resources sign new Venezuela energy deals
Venezuelan authorities signed agreements on September 16 granting New York-based investment firm Heeney Capital operational and export rights to a gold mine, while US independent Continental Resources signed a memorandum of understanding
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