LatAmOil - Latin America Oil & Gas

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Oil & Gas

Region: Latin America   Category: Oil & Gas Frequency: Every Tuesday

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Overview

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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GECF bullish on natural gas as "integral" to energy mix for decades to come

11 March 2025

“We are convinced now more than ever that natural gas is not just a bridge to the future. It is an integral part of the future,” GECF Secretary General Mohamed Hamel said.

Trump administration moves to tighten sanctions on Venezuela

11 March 2025

The Trump administration is preparing to ramp up pressure on Nicolás Maduro by forcing more foreign companies to cease operations in Venezuela, following an order for Chevron Corp. to exit the country

Gold Reserve’s subsidiary submits bid in Venezuela’s Citgo auction

11 March 2025

Canadian mining firm Gold Reserve announced this week that its Delaware-based subsidiary, Dalinar Energy, has lodged a bid that could be selected as the opening offer in a court-supervised auction for shares in Citgo Petroleum’s parent company

Venezuela’s vice president accuses ExxonMobil of lobbying for sanctions

11 March 2025

Venezuelan Vice President Delcy Rodríguez has accused ExxonMobil of lobbying for tougher US sanctions and warned that the oil giant would be responsible if harm comes to any senior official in Nicolás Maduro’s regime

Maduro vows Venezuela’s oil production will not decline despite US ending Chevron licence

11 March 2025

“Not a single litre or barrel of production will fall; on the contrary, oil production will continue to grow,” Maduro declared

Brazil’s Petrobras agrees to $283mn settlement in EIG legal dispute

11 March 2025

Brazil’s national oil company (NOC) Petrobras has approved a settlement agreement to resolve a US court dispute with EIG Energy Fund XIV, which includes a $283mn payment from the Brazilian company.

Guyana to engage with ExxonMobil over contested expenses

11 March 2025

Guyana's Natural Resources ministry has instructed the country's tax authority to initiate dispute resolution proceedings with ExxonMobil over $214mn in contested expenses claimed by the oil giant.

Ecuador presidential candidate Luisa Gonzalez seeks to revoke Sacha oil field concession

11 March 2025

Ecuadorian presidential candidate Luisa Gonzalez pledged to revoke the controversial Sacha Field concession granted by President Daniel Noboa to Amodaimi-Oil Company S.L. just weeks before the end of his administration.

Venezuela faces economic strain as Chevron exits, Maduro unveils new plan

11 March 2025

Following the confirmation of Chevron’s departure from Venezuela, Nicolás Maduro has introduced the Plan for Absolute Productive Independence, a new initiative aimed at addressing the fiscal challenges faced by the country

Chevron not required to sell Venezuelan assets but faces prohibition on active operations

11 March 2025

Chevron will not be required to divest its holdings in Venezuela, following the issuance of General Licence 41A by the US Treasury Department, but it must halt operations in the country by April 2025

Venezuelan official accuses Trump of using Citgo bond renewal as political leverage

11 March 2025

Venezuela's Vice Minister of Anti-Blockade Policies William Castillo has accused Donald Trump of orchestrating an international pressure campaign to advance US interests, pointing to Washington’s latest decision regarding Citgo’s 2020 bonds

Venezuela opposition-Maduro negotiations in focus after Trump’s Chevron move

11 March 2025

Analysts suggest that Chevron’s licence revocation by the Trump administration could create an opening for renewed negotiations between the opposition and the Maduro regime, with the US playing a central role

Colombia's Ecopetrol strengthens reserves with strategic acquisitions amidst output gains

10 March 2025

Ecopetrol ended 2024 with 1.89 bn barrels of oil equivalent (boe) in proven (1P) reserves, replacing 104% of its production.

Brazil's Petrobras confirms significant gas potential in Colombian waters

10 March 2025

Brazilian energy company Petrobras has reported positive outcomes from a drill stem test (DST) conducted at the Sirius-2 well, located offshore Colombia, indicating substantial natural gas potential in the region.

Ecuador transfers operations of oil field to Chinese and Canadian consortium

10 March 2025

Ecuador announced that it is transferring operations of the country's most productive field, Sacha, from national oil company Petroecuador to a consortium led by China's Sinopec and Canada's Petrolia under a production-sharing contract.

EnerMech to do pre-commissioning work on ONE Guyana FPSO

10 March 2025

EnerMech has won a pre-commissioning contract for the ONE Guyana FPSO from SBM Offshore's Guyana subsidiary, extending the energy services firm's involvement in Guyana's rapidly expanding offshore oil sector.

Colombia's Ecopetrol's 2024 profit decline amid energy transition

7 March 2025

Colombia's state-controlled oil company, Ecopetrol, announced a 21.7% decrease in net profit for 2024, totalling $3.8bn.

Mexico has contingency plans if Trump uses gas as 'weapon' in talks: Energy Ministry

7 March 2025

Mexico has prepared contingency plans to prevent blackouts should US President Donald Trump use Mexico's high dependence on American natural gas as a negotiating weapon

Colombia's Ecopetrol accelerates renewable energy expansion with 2 GW acquisition plan

7 March 2025

Ecopetrol, Colombia's state-controlled oil giant, is advancing its renewable energy ambitions by initiating the acquisition of approximately 2 gigawatts (GW) of renewable energy projects, primarily in wind and solar sectors.

Trump extends Chevron’s Venezuela exit deadline to April

7 March 2025

The order mandates the closure of the company’s operations in the country, including its joint ventures with state oil firm PDVSA and any entity in which PDVSA holds a stake of at least 50%

Colombia's Ecopetrol enhances regasification capacity amid impending gas shortfall

7 March 2025

Colombia's state-owned oil and gas company, Ecopetrol, has awarded a contract to local firm Puertos, Inversiones y Obras (PIO) to deliver regasification services along the nation's Pacific Coast.

Maduro threatens action over Guyana’s alleged oil exploitation in disputed waters

7 March 2025

Venezuela’s Nicolás Maduro warned that his government would take decisive measures to address what he described as an "illegal action" by Guyana in a maritime area he claims remains "pending international delimitation."

Maduro pledges to expand Venezuela’s oil production despite Chevron licence revocation

7 March 2025

Venezuela’s Nicolas Maduro denounced Washington’s directive for Chevron to cease its activities in the country within a month, branding the move as detrimental to both nations.

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