LatAmOil - Latin America Oil & Gas
Brazilian oil firm’s Petrobras P-80 FPSO leaves Singapore for Búzios field
Brazilian oil giant Petrobras said on September 30 its P-80 FPSO left Singapore that day for Brazil’s giant Búzios pre-salt oilfield, where it is scheduled to start production in 2027.
Qatar’s UCC considers expanding Venezuela oil and gas presence
Qatar’s UCC Oil and Gas Holding is weighing a broader push into Venezuela, looking beyond the offshore gas venture that marked its entry into the country as the government seeks foreign partners to revive its energy industry
GeoPark seeks Venezuela diluent supply ahead of Orinoco start
GeoPark Ltd. is working with Venezuela’s state oil company on a supply arrangement that could determine how quickly it can ramp up its first project in the country
Venezuela oil revival draws interest despite power and output constraints
Venezuela’s push to revive its oil industry is attracting interest from foreign producers, but companies looking to expand are confronting infrastructure and operational problems that have already forced some to revise their plans
Ecuador signs amended Block 17 oil contract with PetroOriental and Orionoil
Ecuador's Ministry of Environment and Energy (MAE) has signed an amended contract for the operation of Block 17 in Orellana province, to be run by companies PetroOriental and Orionoil, El Universo reported.
Pemex racks up $4bn trade deficit as fuel imports outstrip Dos Bocas gains
Mexican state oil company Pemex posted a trade deficit of $4bn between January and August 2026, driven mainly by fuel imports despite elevated crude prices.
Chile's Kast moves to extend fuel-price relief to December as Iran war drags on
Chilean President José Antonio Kast will ask Congress to extend support measures introduced after fuel prices surged in March, admitting the Middle East conflict has lasted far longer than his government expected.
Guatemala suspends fuel taxes, vetoes price cap bill
Guatemalan President Bernardo Arévalo has signed into law a suspension of taxes on fuel while vetoing a separate bill that would have imposed price caps.
ExxonMobil reaches billionth barrel of oil in Guyana
ExxonMobil (NYSE: XOM) and its Stabroek Block partners have pumped their billionth barrel of crude from Guyanese waters, less than seven years after production began.
China's Bomesc wins FPSO module contract from SBM Offshore, bound for South America
Chinese offshore fabricator Bomesc Offshore Engineering has won a contract worth $239mn to $313mn from SBM Offshore to build topsides modules for a FPSO vessel bound for South America.
Rockhopper keeps Falklands' Sea Lion oil production target for 2028 despite Argentine sanctions
British oil and gas company Rockhopper Exploration said it remains committed to starting oil production from the Sea Lion field in the Falkland Islands (also known as Malvinas) in the first quarter of 2028, despite Argentina's legal threats .
Argentina’s YPF and Entre Ríos study logistics options for Vaca Muerta sand supplies
Argentina's state-controlled YPF has signed an agreement with Entre Ríos province to study road, rail and river transport options for moving sand used in hydraulic fracturing to the Vaca Muerta shale formation.
Funds face deadline to appeal Argentina’s YPF case to US Supreme Court
Funds involved in the long-running lawsuit over Argentina's renationalisation of oil company YPF face a September 30 deadline to ask the US Supreme Court to review a ruling that overturned a $16.1bn judgment against the country.
Venezuela’s oil revival faces power, technology and talent shortages
Venezuela’s push to attract foreign investment and increase oil production faces major constraints in electricity, technology, supply chains and skilled labour, issues repeatedly highlighted at the Venezuela International Oil and Gas Summit
Venezuela’s oil deals keep billions outside public oversight
Venezuela’s system for managing strategic resources continues to rely on confidential agreements that keep significant flows of money outside conventional public oversight, with oil, gold and food imports forming three prominent channels
US eases some Venezuela energy restrictions with updated OFAC licences
The changes allow companies to advance work on prospective oil, gas, petrochemical and electricity projects, although some activities will still require separate approval from OFAC
Brazil’s Petrobras locks in US LNG supply for 22 years
Brazilian state-controlled oil company Petrobras has signed a 22-year agreement to purchase liquefied natural gas from US exporter Cheniere Marketing, securing about 800,000 tonnes per year under a free-on-board arrangement.
Mexico eyes $7bn oil windfall in 2027, but history of Pemex overspending clouds forecast
Mexico's federal government is projected to book net oil revenue of MXN127bn ($7.1bn) in 2027, its first since 2024, provided it keeps support for state oil company Pemex in check.
Rain keeps Brazilian sugar mills focused on ethanol
Brazilian sugar mills are expected to keep favouring ethanol over sugar through the end of the 2026 harvest, as excessive rainfall in the centre-south limits the amount of cane suitable for producing the sweetener.
Venezuela advances oil deals, puts debt restructuring on hold
Venezuela’s interim government under President Delcy Rodríguez has postponed plans to restructure its external public debt and obligations owed by PDVSA, opting first to focus on oil contracts already signed or under negotiation, says a report.
Brazil's gas market opening up, ANP head says as regulator weighs Petrobras 'gas release'
Brazil is experiencing a broad opening of its natural gas market, the head of oil and gas regulator ANP said, adding the agency is weighing rules that would force dominant supplier state-owned oil company Petrobras.
Brazil tax appeals body rejects $540mn in Petrobras tax credits
Brazil's administrative tax appeals council Carf has rejected BRL2.79bn ($540mn) in tax credits claimed by state-owned oil company Petrobras.
Brazil’s Petrobras signs 22-year LNG supply deal with Cheniere
Petrobras has signed a 22-year agreement to buy liquefied natural gas (LNG) from a unit of US producer Cheniere Energy.
Brazil's September trade surplus more than doubles as oil exports head for record
Brazil posted a trade surplus of $6.45bn in the first four weeks of September, up 151.1% from a year earlier, as crude oil shipments headed for an all-time monthly record.
US reaffirms Guyana support as ruling approaches in Essequibo territorial dispute
The United States has reaffirmed its support for Guyana’s “territorial integrity” as an ICJ ruling on Venezuela’s claim to the oil-rich Essequibo region approaches, despite the sharp improvement in Washington-Caracas relations.
ExxonMobil Guyana to continue output explosion as production surpasses 1bn barrels
Less than seven years after crude first flowed from the Liza field, ExxonMobil and its co-venturers have officially produced their one-billionth barrel of oil from Guyana's prolific Stabroek block.
Argentina to seek UN arbitration over Sea Lion oil project
Argentina will initiate international arbitration against the United Kingdom over the Sea Lion oil project near the Falkland Islands, giving London two weeks to halt the development before Buenos Aires seeks provisional measures.
Rubio again calls Cuba a ‘failed state’, warns of US security threat
Rubio says Washington wants Cuba to change course as pressure deepens
Power deficit cripples Venezuela’s oil heartland of Zulia as infrastructure falters
Daily life in Maracaibo has been rendered unpredictable as Zulia state struggles with a severe electricity shortfall, forcing residents to navigate routine blackouts lasting anywhere from six to 16 hours
How Alejandro Betancourt rebuilt his Venezuelan oil empire
Alejandro Betancourt, a controversial Venezuelan businessman often labeled a "bolichico", has emerged as a key player in the oil sector restructuring promoted by the Donald Trump administration in Venezuela
Colombia's Ecopetrol's Gutiérrez starts tenure as investors weigh oil-sector experience
Joaquín Gutiérrez Caballero began his tenure as Ecopetrol’s president on September 28, with investors expected to focus on how the new chief executive addresses his limited direct experience in the oil and gas industry
Argentina threatens legal action over Falklands Sea Lion oil project
Argentina has threatened to launch international legal proceedings against Britain unless work on the Sea Lion oil project off the Falkland Islands is halted within two weeks, escalating a long-running sovereignty dispute between the two countries.
Argentina’s Chevron plans $14bn investment to triple Vaca Muerta output by 2035
Chevron plans to invest about $13.8bn in Argentina through 2035 to triple its oil production in Vaca Muerta, with the US company’s 100%-owned El Trapial field in Neuquén set to become the centre of the expansion under the country’s RIGI scheme.
Argentina’s YPF targets record 1mn bpd as Vaca Muerta expands
Argentina’s state-controlled oil company YPF expects its crude production to reach 1mn barrels per day for the first time in its history in the coming years, while the country’s oil exports could rise to $18bn.
Mexico boosts petrol tax relief, keeps diesel fully exempt to cap pump prices
Mexico is raising fiscal support for petrol while keeping diesel fully relieved of tax, El País reported, as the government tries to avoid a sharp jump in pump prices amid a global energy squeeze.
Mexico's Pemex contains dark discharge from Madero refinery into Pánuco River
Mexican authorities have inspected and contained a dark discharge from state oil company Petróleos Mexicanos (Pemex)'s Madero refinery into the Pánuco River, in the north-east of the country.
Pemex to need at least $10bn a year in state support for up to five years, Moody's says
Mexico's state oil company Petróleos Mexicanos (Pemex) will need government support of at least $10bn a year over the next three to five years, and for longer if its operations do not improve.
Colombia declares temporary gas rationing after SPEC LNG fault
Colombia declared temporary and scheduled natural-gas rationing on September 25 after a technical problem at the regasification infrastructure operated by SPEC LNG reduced the availability of imported gas, the Ministry of Mines and Energy
Colombia orders gas rationing as SPEC LNG outage curbs imports
Colombia ordered a temporary, nationwide gas-rationing programme on September 25 after a technical problem at SPEC LNG reduced the country’s ability to receive imported gas, the Ministry of Mines and Energy said
Chevron to invest $13.8bn in key Argentine hydrocarbon field
US energy major Chevron is preparing a $13.8bn investment under Argentina’s newly implemented Large Investment Incentive Regime to develop the El Trapial field in northern Neuquén.
Trinidad and Tobago confirms start date for crucial Aphrodite gas project
Trinidad and Tobago’s wholly state-owned National Gas Company (NGC) confirmed that the Aphrodite offshore gas development is expected to produce first gas by the second quarter of 2027.
Bolivia launches fuel-linked financing to steer transport from diesel to gas
Bolivia has created a national programme, "PATRIA", to help public transport operators replace ageing vehicles and switch from diesel to compressed natural gas (GNV).
Guyana private sector faces new test as gas industry takes shape
Guyana’s next energy phase will test whether the local private sector can turn rapid oil-sector growth into the skills, services and industrial capacity needed for natural gas development.
Norway’s Shearwater wins three-year seismic contract offshore South America
Shearwater Geoservices has won a three-year ocean bottom node (OBN) seismic acquisition contract offshore South America from what it described as a major oil and gas company.
Brazil’s Edge plans $192mn LNG terminal at Brazil's Rio Grande port
Edge, the natural gas unit of Brazilian conglomerate Cosan, will sign a memorandum with the government of Rio Grande do Sul state to study a liquefied natural gas (LNG) terminal at the port of Rio Grande.
US-Cuba cargo traffic expands as shipping activity rises
Colombia's Ecopetrol to pursue fracking and offshore exploration under new president
Ecopetrol plans to resume oil and gas exploration through conventional and unconventional projects, including fracking, while continuing offshore development under new president Joaquín Gutiérrez, who set the strategy at his inauguration
Stalled Citgo sale holds a key to US leverage and Venezuela’s economic recovery
A court-mandated $9bn transaction to sell Citgo Petroleum Corp. to Elliott Management and startup affiliate Amber Energy has ground to a halt, as the US Treasury Department continually shields the Houston-based refiner from seizure by creditor
Venezuelan crude output could reach around 1.6mn barrels per day by 2028, says Rystad
Venezuela’s upstream petroleum industry is drawing its most diverse array of international energy companies and foreign capital in decades
Colombia cuts diplomatic ties with Iran over alleged terrorism links, Tehran rejects move
Gas-tastrophe! Global energy chiefs drill for more while their own seeps away
The global gas industry is spending billions of dollars drilling new fields, constructing LNG terminals and securing supply routes while allowing huge quantities of the commodity it already produces to leak, vent or burn into the atmosphere.
Venezuela solidifies rank as second-largest foreign crude supplier to US
Early data from the Energy Information Administration reveals that this volume marks a 228% expansion over figures from the corresponding span in 2025.
Petrobras says Brazil's Braskem will reach a deal with its creditors
Brazilian petrochemicals producer Braskem (B3: BRKM5) will reach an agreement with its creditors, an executive at state-controlled Petrobras (B3: PETR4) said, Bloomberg reported on September 24.
Mexico discusses supplying Indonesia with LNG
Mexico’s energy minister Luz Elana Gonzalez Escobar held talks with Indonesian officials about supplying the Southeast Asian country with LNG.
Petrobras to drill first Bolivia well in eight years
Brazil's Petrobras plans to drill an exploratory well in Bolivia's San Telmo Norte block in the second half of 2027, its first campaign there in eight years.
Argentina’s YPF targets November decision on $51bn Vaca Muerta LNG project
Argentina’s state-controlled YPF is targeting a final investment decision in late November for Argentina LNG, a multi-stage $51bn project to liquefy and export gas from Vaca Muerta by ship, after securing a $6bn loan from the US Export-Import Bank.
Brazil’s Petrobras eyes diesel self-sufficiency, expands African footprint with new Mozambique pact
Petrobras is preparing to set a goal of full self-sufficiency in domestic diesel production in its next business plan, chief executive Magda Chambriard said.
Colombia's Ecopetrol appoints Joaquín Gutiérrez as chief executive
Ecopetrol’s board unanimously appointed Joaquín Gutiérrez Caballero as the Colombian oil company’s new president on September 24, following a selection process that comes as the state-controlled producer begins a new management phase
Brazil's Petrobras eyes subsea route for Colombia’s Sirius gas project ahead of 2027-31 plan
Petrobras may include Colombia’s Sirius offshore gas project in its 2027-2031 business plan if it obtains the required environmental licence, exploration and production director Sylvia Anjos said
Argentina’s Vaca Muerta export drive set for up to $7bn US financing package
Argentina and the United States are preparing a financing agreement of about $6bn centred on Argentina LNG, the liquefied natural gas project led by YPF, Eni and XRG, as the two countries seek to expand energy and infrastructure cooperation.
Bolivia's drivers call nationwide stoppage over diesel price hike
Bolivia's government says most public transport vehicles do not rely solely on diesel, as drivers' unions prepare a nationwide stoppage on September 28 over the end of fuel subsidies.
Ecuador's Noboa says UAE oil firms ADNOC, Petromal eye stake in flagship Sacha field
Ecuadorean President Daniel Noboa has said several oil companies from the United Arab Emirates are interested in investing in Sacha, the country's largest oil field, according to an interview with Bloomberg published on September 22.
Guatemala suspends fuel taxes to ease price surge after road-blocking protests
Guatemala's Congress has approved a temporary exemption from two fuel taxes to soften rising prices, following a series of protests and roadblocks.
Mexico braces for supply risk as Trump backs proposed ban on exports of diesel from US
Mexico is on alert after US President Donald Trump endorsed a proposal by some US lawmakers to ban diesel exports, El País reported.
Venezuela and Guyana lift Caribbean oil exports by 45%
Oil exports from the Caribbean basin rose 45% year on year in 2026, an increase of 234mn barrels, or about 880,000 barrels per day.
TotalEnergies sets stage for fresh exploration on Suriname’s Block 58
TotalEnergies is preparing a new 2027-28 exploration campaign on Suriname’s Block 58 as GranMorgu advances towards first oil, potentially expanding the resource base behind the country’s emerging offshore oil industry.
Suriname offshore interest broadens as Staatsolie receives fifth Open-Door proposal
Suriname’s offshore exploration market is attracting sustained interest, with Staatsolie receiving its fifth Open-Door proposal since June as the country approaches first oil production in 2028.
Brazil’s Petrobras expands Africa push with new Mozambique ENH agreement
Petrobras and Mozambique’s state-owned ENH have signed a two-year MoU to explore oil and gas cooperation as Maputo seeks fresh energy investment.
LATAM BLOG: Trump keeps Machado's medal and Rodríguez's oil
María Corina Machado made three failed attempts to reach Venezuela from Panama by sea and air on September 21 and 22, her team said. On the second of those days Delcy Rodríguez, the country's acting president, held her first meeting with Trump.
Argentina protests UK over Falklands offshore oil licence extensions
Argentina on September 22 lodged a formal diplomatic protest with the United Kingdom over the extension of offshore hydrocarbon licences in the Falkland Islands (also known as Malvinas), rejecting what it described as unilateral activity.
US plans up to $7bn financing package for Argentina’s energy and minerals
The United States plans to provide up to $7bn in financing for critical minerals and energy projects in Argentina, as Washington and Buenos Aires deepen economic cooperation and seek to expand access to the South American country's energy and mineral
Argentina’s Vaca Muerta LNG project seeks US-backed financing for $51bn development
Argentina LNG, a $51bn project led by YPF, Italy's Eni and UAE-based XRG to turn gas from Vaca Muerta into liquefied natural gas for export, could receive financing support from the US Export-Import Bank and private investors.
Falklands extends offshore oil licences as Argentina steps up legal challenge
The Falkland Islands government has extended existing offshore oil licences for five years as Argentina steps up legal and political efforts to block development of the territory’s petroleum resources.
Argentina’s oil patch draws more than $416mn in oil exploration commitments
Argentina’s Neuquén and Mendoza provinces are advancing oil exploration projects carrying more than $416mn in proposed investment and access payments, spanning new acreage in Neuquén and conventional exploration areas in Mendoza.
Brazil’s Petrobras targets January for Foz do Amazonas appraisal wells
Brazil’s Petrobras plans to begin drilling three wells in the Foz do Amazonas basin in January 2027 as it seeks to determine whether its recent oil discovery in the environmentally sensitive offshore region is commercially viable.
Argentina races to end oil and gas transport shortfall, unleashing full hydrocarbon potential
With Argentina’s Vaca Muerta shale formation accounting for roughly 72% of the nation’s entire hydrocarbon production, the country is in a race to bolster its transportation infrastructure in order to cater for this oil and gas sector boom.
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