LatAmOil - Latin America Oil & Gas

Ecuador's gas prices rise in August

Ecuador's gasoline prices have increased and will remain in effect until September 11, according to the National Chamber of Petroleum Derivatives Distributors.

YPF announces SAF production investment in Argentina

Argentine national oil company YPF has announced a $400mn investment to produce sustainable aviation fuel through a new joint venture with Essential Energy.

Tecpetrol to spend $2.5bn on boosting Argentine oil production

Tecpetrol, the oil arm of Techint Group, has unveiled plans to invest over $2.5bn to quintuple its crude oil production in Vaca Muerta from 20,000 to 100,000 barrels per day, CEO Ricardo Markous announced.

Mexico renews voluntary gasoline price cap at $1.29 per litre

Mexican President Claudia Sheinbaum announced on August 12 that the government will extend its voluntary agreement with gasoline retailers to maintain regular fuel prices at MXN24 ($1.29) per litre through a renewed six-month commitment

Texas businessmen charged with bribing Pemex officials for $2.5mn contracts in Mexico

Amigo LNG secures marine contractor as Mexico export project advances

Mexican liquefied natural gas developer Amigo LNG has contracted Constructora Manzanillo SA de CV for marine infrastructure construction at its planned Guaymas export facility

Mexico's Pemex explores lithium extraction from oilfield brines in diversification push

Chevron resumes Venezuelan oil exports to US under new curbs

Chevron Corp. has restarted Venezuelan crude shipments to the United States after a months-long pause, with the first cargo under its new restricted licence set to depart this week

Venezuela’s Citgo auction sees Vitol challenge Gold Reserve’s lead with higher offer

The battle for control of Citgo Petroleum, Venezuela’s prized US refining asset, has intensified as a Vitol subsidiary pushes to dislodge a Gold Reserve-led consortium from pole position in the court-ordered auction

Chevron’s Venezuela waiver poised to ease heavy crude shortage on US Gulf Coast

Gulf Coast refiners, many designed to handle heavier grades, have been squeezed by the loss of Venezuelan barrels

Excelerate Energy posts strong second quarter on back of Jamaica LNG acquisitions

US LNG firm Excelerate Energy recorded strong second quarter results and lifted its full-year outlook after closing its acquisition of Jamaican LNG assets.

Colombia's Ecopetrol profits tumble 33% as crude price slump overshadows record output

Colombia's state-controlled oil producer Ecopetrol reported a sharp 33.2% decline in first-half profits to COP4.9 trillion ($1.22bn) marking the company's weakest earnings performance since 2021 despite achieving record production levels.

Colombia's Ecopetrol reports 46% earnings decline amid oil price pressure

Colombia's state-owned Ecopetrol suffered a dramatic profit contraction in the second quarter as sustained commodity price weakness undermined Latin America's fourth-largest oil producer.

Colombia's Ecopetrol disputes Petro's claims over fuel subsidy impact

Colombia's state oil company Ecopetrol has challenged President Gustavo Petro's assertion that fuel subsidies caused the nation's fiscal deficit

Brazil’s Petrobras hires two DOF vessels in $275mn deal

Norwegian offshore service provider DOF Group has secured two four-year contracts with Brazilian state-controlled oil producer Petrobras, together valued at more than $275mn.

Argentina’s Southern Energy agrees to 20-year FLNG charter with Golar

Argentinian firm Southern Energy S.A. has made a positive final investment decision on the 20-year charter of Golar’s MK II Floating LNG unit.

Robots take over risky FPSO tank cleaning in Brazil

Ambipar, a Brazil-based environmental services firm, and Netherlands-headquartered SBM Offshore have introduced a remote robotic system for cleaning cargo oil tanks on floating production, storage and offloading (FPSO) units.

Brazil’s EPE backs Petrobras gas pipeline in Sergipe state

Brazil's Energy Research Company (EPE) has recommended approval for Petrobras’s Sergipe Aguas Profundas (SEAP) gas pipeline project, following a review in coordination with the National Petroleum Agency (ANP).

Guyana open to entering CARICOM oil deal

Guyana has signalled openness to exploring crude oil sales arrangements with Caribbean Community (CARICOM) member states, potentially including discounted barrel deals linked to cheaper refined fuel supplies.

Brazil faces diesel supply threat as Trump targets Russian imports

Brazil's heavy reliance on Russian diesel imports has placed the country at risk of US secondary sanctions, potentially driving up fuel prices as more than half of Brazil's diesel supply comes from Russia.

Brazil’s Petrobras swings to $4.89bn Q2 profit while tightening costs amid oil price decline

Brazil’s Petrobras reported second-quarter net profit of BRL26.7b ($4.89bn), reversing a BRL2.6bn loss from the prior year, while implementing cost controls to maintain its $18.5bn annual investment plan despite falling crude prices.

Seatrium secures Brazilian compliance support for Petrobras FPSO fleet

ExxonMobil Guyana begins Yellowtail production

ExxonMobil has commenced production at Yellowtail, its fourth offshore development in Guyana's Stabroek Block, marking another significant milestone in the South American nation's rapid oil industry expansion.

Colombian hydrocarbon output contracts as production pressures mount

Colombia's hydrocarbon sector faced renewed headwinds in June as both oil and natural gas output contracted year-on-year, according to data released by the National Hydrocarbons Agency.

Several foreign energy giants abandon Colombia amid regulatory squeeze

Colombia's offshore energy sector faces an exodus of international petroleum companies following disappointing exploration results and tightened regulatory frameworks.