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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Petroperu’s woes escalate as market ambitions clash with crises

4 December 2024

Petroperu, Peru’s state-owned oil company, is under intense scrutiny as it grapples with financial instability, operational hurdles, and mounting social conflicts.

Pemex faces debt crisis as contracts are suspended

4 December 2024

Mexico’s state-owned oil company, Pemex, is navigating a deep financial crisis, marked by unpaid debts exceeding $20bn and a temporary suspension of new contracts with service providers.

Repsol sells Colombian oil assets for $530mn to GeoPark

4 December 2024

Spanish energy giant Repsol has exited its oil operations in Colombia, selling key assets to GeoPark for $530mn.

Gran Tierra Energy announces seventh oil discovery in Ecuador

3 December 2024

Gran Tierra Energy has announced its seventh oil discovery in Ecuador with the successful drilling of the Zabaleta-K1 well in the Chanangue Block.

US-Venezuela energy talks expected in early 2025, industry official says

3 December 2024

Energy talks between US and Venezuelan officials could begin as early as January 2025, following presidential inaugurations in both nations, according to a senior Latin American energy industry representative.

Guyanese government considering options for gas monetisation

3 December 2024

Guyana's Vice President Dr Bharrat Jagdeo has outlined the government's multifaceted approach to gas monetisation, addressing concerns about the selection of US-based Fulcrum LNG in a tripartite arrangement with ExxonMobil Guyana Ltd.

Argentina's government advances expansion of major gas pipeline as RIGI initiative takes effect

3 December 2024

Argentina's government is progressing with the expansion of the Perito Francisco Pascacio Moreno gas pipeline through a project proposed by Transportadora de Gas del Sur under the government’s Large Investment Incentive Regime.

YPF enters into landmark floating LNG project with Golar LNF and Pan American Energy

3 December 2024

Argentina's state energy firm YPF has entered into a landmark $3bn floating LNG project alongside Golar LNG and Pan American Energy, marking a significant expansion of the country's LNG export capabilities.

Key Ecuadorian oil pipeline reverts to state control

3 December 2024

Ecuador's heavy crude oil pipeline has reverted to state control following the expiration of its 20-year concession on November 30, 2024, Vice Minister of Hydrocarbons Guilhermo Ferreira Oliveira confirmed.

Pemex oil production hits 14-year low as Dos Bocas refinery faces setbacks

3 December 2024

In October, Petróleos Mexicanos (Pemex) recorded its lowest oil production in over a decade, falling below 1.5mn barrels per day (bpd)—a level not seen even during the pandemic.

Petrobras signs platform deals for Sergipe deepwater project

3 December 2024

Petrobras has initiated the contracting process for up to two FPSO (floating production, storage, and offloading) vessels for the Sergipe Águas Profundas (SEAP) project in the Sergipe-Alagoas Basin.

Citgo auction sparks fierce battle among creditors, as legal and financial stakes escalate

2 December 2024

The impending auction of Citgo Petroleum Corporation's parent company has escalated into a complex financial battleground, with multiple creditors manoeuvring to secure the prized Venezuelan asset.

Canacol Energy updates Colombia drilling progress, highlights new production rates

2 December 2024

Canacol Energy is presenting upgrades on its exploration and development drilling activities in Colombia, the company stated in a release

Geopark to acquire Repsol’s Colombian oil assets in $530mn deal

2 December 2024

Geopark, a Latin America-focused energy firm, has reached binding agreements with Spain's Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire their oil and gas assets in Colombia, the company reported.

ExxonMobil, Hess, CNOOC still interested in Guyana's Block S8, vice president confirms

2 December 2024

Guyana's ExxonMobil consortium has reaffirmed its interest in shallow water Block S8, according to Vice President Dr Bharrat Jagdeo, marking a reversal from earlier reports suggesting the company had withdrawn from negotiations.

Guyana gains preliminary loan approxal from EXIM Bank for gas-to-energy project

2 December 2024

Guyana's Gas-to-Energy project has secured preliminary approval for a loan exceeding $500mn from the United States Export-Import Bank, Vice President Bharrat Jagdeo announced in a recent press conference.

Vaca Muerta hits record oil production in third quarter of 2024

2 December 2024

Oil production from Argentina's Vaca Muerta shale formation reached a record 400,000 barrels per day in Q3 2024, marking a 35% y/y increase, according to consultancy Rystad Energy.

Argentina advances $700mn gas pipeline expansion

2 December 2024

Argentina's government is advancing plans to expand the Perito Francisco Pascacio Moreno Gas Pipeline through a $700mn project presented by Transportadora de Gas del Sur (TGS), a company controlled by Pampa Energía and the Sielecki family.

Venezuela restores key gas facility amid sabotage allegations

1 December 2024

Venezuela has restored operations at the Muscar gas pipeline in Monagas State, following what officials have described as a deliberate act of sabotage that caused significant damage to critical energy infrastructure.

Citgo sale faces overhaul amid complex legal struggles and creditor discontent

1 December 2024

The protracted legal battle surrounding Citgo Petroleum's parent company shares has reached a critical juncture, with court-appointed advisers recommending a comprehensive auction overhaul after a year-long process plagued by mounting complexities

PDVSA announces full recovery of Muscar complex after gas pipeline explosion

1 December 2024

Venezuela's state-owned oil company, Petróleos de Venezuela (PDVSA), has confirmed the full recovery of the Muscar Industrial Complex in Monagas state, which was severely damaged in a fire on November 11.

Petrobras focuses on ready-to-run ethanol projects

1 December 2024

Petrobras will focus its initial ethanol investments on operational assets through partnerships with established producers, limiting its stake to 50%, according to the company’s Energy Transition Director, Mauricio Tolmasquim.

Arrow Exploration reports record Q3 2024 results, announces plans for 2025 growth in Colombia

29 November 2024

Arrow Exploration, a hydrocarbon operator with assets in key Colombian basins, has reported its Q3 2024 interim results and provided updates on its operations.

YPF CEO claims infrastructure issues stand in the way of Argentine energy export boom

28 November 2024

Argentina's energy sector holds immense export potential but faces crucial infrastructure hurdles, according to YPF CEO and President Horacio Marín during his address at the 30th Industrial Conference of the UIA.

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