LatAmOil - Latin America Oil & Gas

Brazil posts record October trade surplus as oil exports more than double

Brazil posted a trade surplus of $9.32bn in October, the largest for the month since records began in 1989, driven by higher exports of oil, fuels, farm products and minerals.

Brazil oil output seen peaking at 5m bpd in 2028, says EPE

Brazil's oil production is expected to peak at about 5mn barrels per day in 2028, driven mainly by new units starting up in the pre-salt layer, according to a government energy plan.

Brazil’s Petrobras starts drilling second well in Campos Basin's North Brava block

Petrobras has begun drilling a second well in the North Brava block, in the pre-salt layer of the Campos Basin.

RINA secures $12.3mn Petrobras subsea contract in Brazil

Petrobras (NYSE: PBR, B3: PETR4) has handed RINA a contract lasting three years and valued at $12.3mn, under which RINA will evaluate subsea infrastructure off Brazil, examining its integrity and upkeep as well as its eventual decommissioning.

Norway’s DOF extends Petrobras contract for Skandi Olinda vessel to 2028

DOF Group has secured a 304-day extension to the long-term contract of its pipelay support vessel Skandi Olinda with Petrobras.

Italy's Rina wins $12.3mn Petrobras subsea decommissioning contract

Rina has signed a three-year contract worth about $12.3mn with Petrobras to support work on the integrity and decommissioning of subsea systems.

Lloyd's Register approves Brazil’s Petrobras FPSO concept for Tupi revitalisation

Lloyd's Register has granted Approval in Principle to the conceptual design of a floating production, storage and offloading (FPSO) vessel for Brazilian state-run oil company Petrobras' project to revitalise its Tupi field.

Brazil sets terms for national fossil fuel transition roadmap

Brazil's National Energy Policy Council (CNPE) has issued a resolution containing 18 directives to guide the country's roadmap for moving away from fossil fuels.

Repsol Sinopec expects Brazil's Raya gas project to start up in 2028

Repsol Sinopec, the joint venture of Spain's Repsol and China's Sinopec, expects its Raya deepwater project off Brazil to start operating in 2028, supplying 15% of the country's natural gas demand.

Spanish energy firms to keep investing in Brazil, call for regulatory predictability

Spain's leading energy companies will keep investing in Brazil as demand in the country is set to rise sharply over the next decade, but they need regulatory predictability and stability, according to executives.

Colombia targets 2027 restart of oil exploration as reserves decline

Colombia aims to prepare new oil and gas exploration areas for offering to investors by the first quarter of 2027, marking a potential shift after a four-year pause in signing new exploration contracts under former President Gustavo Petro

Colombia's Ecopetrol, Brazil's Petrobras delay Sirius offshore gas project to 2031

The Sirius gas development off Colombia's Caribbean coast will not begin operating until 2031, a year later than planned.

Colombia plans new oil and gas exploration offer for 2027

Colombia's hydrocarbons regulator expects to have new oil and gas exploration acreage ready for offer in the first quarter of 2027, agency president Ernesto Forero said

Drummond Energy plans first Colombia fracking well for 2027

Drummond Energy is considering drilling its first fracking well to explore for gas in Colombia in 2027, company president Alberto García told an industry gathering

Colombia eyes first fracking well by 2027

Colombia could drill its first fracking well next year, GeoPark (NYSE: GPRK) chief executive Felipe Bayón told the ninth Oil and Gas Summit. Drummond Energy also said it wants its first fracking well drilled in 2027

Colombia's Sirius offshore gas project delayed to 2031

Gas output from the Sirius field in Colombia's Caribbean waters will start in 2031, a year later than planned, because consultations with ethnic communities are running behind schedule, Petrobras (NYSE: PBR) said

Colombia prioritises Venezuela gas pipeline revival project

Colombia's government has added the rehabilitation of the Antonio Ricaurte gas pipeline, a cross-border link with Venezuela, to its list of priority national projects, Colombian oil company Ecopetrol (NYSE: EC, BVC: ECOPETROL) announced

Colombia moves to revive Venezuela gas pipeline to diversify supply

Colombia has designated the rehabilitation of the Antonio Ricaurte gas pipeline linking the country with Venezuela as a strategic national project, advancing efforts to secure additional supplies amid concerns over long-term energy availability

Venezuela oil output rises 8.5% as 80 agreements target production growth

Venezuela's crude production has increased 8.5% over the past year, reaching 1.251mn barrels per day (bpd), as the government seeks to attract investment through a revamped oil industry framework

Bolivia's Paz courts Repsol as gas output slumps and import risk looms

Bolivia's natural gas output has fallen to an average of 27mn cubic metres per day this year, from a record 61mn in 2014. Reserves have dropped to about 3.7 trillion cubic feet from 10.7 trillion in 2017.

Pemex liquids output slips 2.4% in September as company stops publishing crude data

Mexican state oil company Pemex reported liquid hydrocarbons production of 1.613mn barrels per day in September, down 2.4% year-on-year and 1.5% on the month.

Archer secures $40mn drilling contract with Vista in Argentina’s Vaca Muerta

Oilfield services company Archer has secured a two-year drilling contract with Argentine oil producer Vista, worth an estimated $35mn to $40mn including a possible one-year extension, as it expands its operations in the Vaca Muerta shale formation.

Colombia exports hit four-year high as gold offsets weakness in agriculture

US expands Cuba sanctions to eight companies and five vessels

Interruptions to piped water services affected 2.68mn people across Cuba, with electricity shortages accounting for two-thirds of the disruption, President Miguel Díaz-Canel said on November 4

Venezuela targets 3mn bpd by 2037

Venezuela expects to raise crude production to nearly 3mn barrels per day (bpd) by 2037, under a recovery plan requiring almost $76bn in investment over the next five years, Acting President Delcy Rodríguez said