Region: Latin America Category: Oil & Gas Frequency: Every Tuesday
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LatAmOil provides oil and gas Insight and Foresight from Mexico and Central America to the Caribbean and South America. From the heavyweight producers such as Brazil to emerging frontiers like Guyana, LatAmOil informs you of what is going on and why through commentary, exclsuive interviews, news and analysis. In such a notoriously challenging environment, in-depth and accurate information makes every difference in vital decision making and strategy – LatAmOil brings this directly to your inbox every week.
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Argentine oil 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
Chevron seeks long-term presence in Venezuela
Chevron Corp., the last major US oil producer still active in Venezuela, is positioning itself to stay in the country for the long run despite sanctions and geopolitical tensions
PDVSA probes blaze at Petrocedeño site as Maduro warns of foreign threats
PDVSA said the blaze was reported at the Petrocedeño Upgrader inside the José Antonio Anzoátegui Industrial Complex in the east of the country
US-based NOV secures FLNG contract for Argentine project
US-based oilfield services provider NOV has secured its second contract for a floating liquefied natural gas project in Argentina's Gulf of San Matías, marking another milestone in the country's offshore LNG export expansion.
Brazil FPSO deal locks in new pump order
Seatrium has commissioned Switzerland-based Sulzer to supply pump systems for two floating production, storage and offloading vessels being built for Petrobras, the Brazilian state-controlled oil company, the firms said.
Brazil’s COP30 draft presses for fossil fuel exit
Three years initial exploration set for Guyanese deal of TotalEnergies, QatarEnergy, and Petronas
TotalEnergies, QatarEnergy, and Petronas have finalised a production sharing agreement (PSA) for Guyana's offshore Block S4, establishing a three-year initial exploration period with potential for a two-year extension.
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