LatAmOil - Latin America Oil & Gas

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Oil & Gas

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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Venezuela's PDVSA crude flows to Cuba surge despite overall export decline

11 August 2025

Venezuela's state petroleum company PDVSA increased crude deliveries to Cuba by 31,000 barrels per day during July, despite experiencing a 10% decline in total exports.

Brazil’s Petrobras swings to $4.7bn profit

11 August 2025

Brazilian oil producer Petrobras reported a second-quarter net profit of $4.7bn, reversing a $469mn loss in the same period of 2024, the company said.

Argentina's Vaca Muerta faces drilling slowdown as prices decline

11 August 2025

Argentina's Vaca Muerta shale formation faces a near-term drilling slowdown as companies pull back crews amid declining oil prices and recent merger activity, despite strong production growth in the world's second-largest shale gas deposit.

Mexico embraces fracking to reverse Pemex production decline

11 August 2025

Mexico has authorised the expanded use of hydraulic fracturing to tap unconventional hydrocarbon reserves and arrest years of declining output, marking a significant policy reversal from the previous administration's environmental stance

Chevron tankers head to Venezuela as oil shipments close to resuming

11 August 2025

At least three Chevron-chartered tankers are en route to Venezuelan waters to load crude for US refineries later this month, following a fresh US Treasury licence allowing the company to resume limited operations in the sanctioned country

Fresh bid complicates Venezuela’s Citgo sale as creditors battle for control

10 August 2025

Court-appointed special master Robert Pincus informed Judge Leonard Stark of the offer but disclosed neither the bidder’s identity nor the submission date

Brazil’s Braskem says US tariffs will not bite

8 August 2025

The 50% tariff on Brazilian goods announced by US President Donald Trump will not materially affect Braskem. The petrochemical producer’s basic chemicals and polymers are not covered by the measure.

ExxonMobil, Chevron beat profit expectations, see output rise

7 August 2025

US-based supermajors ExxonMobil and Chevron both reported lower earnings for the second quarter of 2025 but nonetheless beat analyst expectations.

Colombia's Ecopetrol reports record quarterly output as production surges

7 August 2025

Colombian state energy giant Ecopetrol achieved its strongest quarterly production performance in ten years during the second quarter of 2025.

Canada's Frontera divests from Ecuadorian oil blocks

7 August 2025

Canadian energy company Frontera Energy has agreed to divest its 50% working interest in Ecuador's Perico and Espejo blocks for CAD 10.74mn ($7.8mn) cash, with potential additional payments of $750,000 contingent on production milestones.

TotalEnergies to sell Argentine shale assets to YPF

7 August 2025

TotalEnergies announced that it has agreed to sell its 45% stake in two unconventional oil and gas blocks in Argentina's Vaca Muerta shale formation to Argentina's national oil company YPF for $500mn.

Mexico unveils comprehensive Pemex rescue plan targeting 2027 self-sufficiency

7 August 2025

The Mexican government has announced a sweeping rescue programme for heavily indebted state oil producer Pemex, aiming to achieve financial self-sufficiency by 2027 and reduce debt from $99bn to $77.3bn by 2030, AFP and Reuters reported.

IMF ups growth forecasts for Latin America, Caribbean

7 August 2025

The International Monetary Fund (IMF) has marginally revised its economic growth forecasts for Latin America and the Caribbean for 2025, reflecting a slightly more optimistic scenario.

Brazilian deepwater yields BP's biggest oil and gas discovery this century

7 August 2025

BP has unveiled its most significant oil and gas discovery in 25 years following successful drilling at the Bumerangue prospect in Brazil's deepwater Santos Basin.

Oil firms’ return is lifeline for Venezuela, but Maduro downplays importance

7 August 2025

Oxford Economics says the re-entry of Chevron and other international oil companies into Venezuela could stabilise crude output and ease currency pressures.

Six FPSOs cleared for Brazil ops

6 August 2025

Axess Group has signed agreements with Seatrium to provide Brazilian Regulatory Compliance (BRC) services for six floating production, storage and offloading (FPSO) units to be deployed offshore Brazil for Petrobras.

BP's Brazil find sparks deepwater race

6 August 2025

British Petroleum (BP) has identified what it describes as its largest oil and gas discovery in over two decades in Brazil’s offshore Santos Basin, a development that could influence interest in an upcoming auction of nearby blocks.

Pemex bets on gas and power in risky 10-year push

6 August 2025

Mexico’s state-owned energy company, Petróleos Mexicanos (Pemex), has unveiled a comprehensive 10-year strategic plan that combines upstream expansion, new infrastructure, financial restructuring and entry into electricity and gas markets.

Trinidad and Tobago to award ExxonMobil exploration rights to new deepwater blocks

6 August 2025

Trinidad and Tobago has agreed to award ExxonMobil exploration rights to seven ultra-deep blocks off its east coast, marking the US oil giant's return to the Caribbean nation after more than two decades, according to senior government officials.

ExxonMobil Guyana assures it will accept court ruling over Chevron-Hess deal

6 August 2025

ExxonMobil CEO Darren Woods has expressed disappointment with the recent arbitration ruling that allowed Chevron to complete its $55bn acquisition of Hess Corporation, securing a 30% stake in Guyana's prolific Stabroek Block.

Guyana posts lowest gasoline prices in the Caribbean

6 August 2025

Guyana has recorded the Caribbean region's lowest gasoline prices at $0.81 per litre in July, significantly below the global average of $1.19, according to analysis by the Energy Chamber of Trinidad and Tobago.

Gran Tierra acquires GeoPark assets in Ecuadorian oil blocks

6 August 2025

Gran Tierra Energy Inc. announced in a press release the acquisition of GeoPark Ecuador S.A.'s and Frontera Energy Colombia Corp's interests in Ecuador's Perico and Espejo Blocks for $15.55mn.

Pan American Energy submits exploration proposal in Argentina's Río Negro

6 August 2025

Río Negro province has approved Pan American Energy's private initiative to explore the "Cinco Saltos Sur" area for unconventional hydrocarbons.

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