LatAmOil - Latin America Oil & Gas

Chevron tankers laden with Venezuelan crude held amid sanctions dispute

The Carina Voyager, sailing under a Bahamian flag and operated by a Chevron subsidiary, began offloading at the PDVSA-controlled Jose terminal over the weekend, according to LSEG data.

Brazil’s cane crush shrinks, ethanol soars

Colombia's Ecopetrol faces profit squeeze amid oil price slump

Colombian state-controlled oil producer Ecopetrol anticipates a significant decline in annual earnings, potentially up to COP 12 trillion (approximately $2.8bn), due to falling crude prices.

Guyana's second gas project to power country's AI data centre

Guyana's first Artificial Intelligence Data Centre will be established in Berbice, powered by the nation's second gas development project, President Dr Irfaan Ali announced.

Colombia's Ecopetrol flags field closures as falling oil prices erode profitability

Ecopetrol is preparing to shut down higher-cost oil fields as tumbling international crude prices, driven by trade tensions stemming from US tariffs, strain the company’s finances.

US lifts board restrictions on Chevron and ExxonMobil acquisitions

The US Federal Trade Commission has initiated a process that could reverse restrictions preventing certain oil executives from joining the boards of Chevron and ExxonMobil, conditions that were imposed by the Biden administration.

YPF unveils five-year plan for Argentina's Vaca Muerta formation

YPF aims to reach 1mn barrel equivalent production by 2030, company President and CEO Horacio Marín announced during a strategic presentation at the New York Stock Exchange.

Mexico suspends Valero fuel import permits

Mexico's tax authority SAT suspended US refiner Valero's fuel import permits on April 9, the company said on April 11, Argus Media reported.

Petrobras extends Noble Discoverer contract in Colombia amid offshore gas expansion

Petrobras has extended its agreement with Noble Corporation for the Noble Discoverer semi-submersible rig, prolonging operations offshore Colombia by an additional 390 days.

Colombia considers long-term gas import contracts amid supply concerns

Colombia is evaluating the implementation of multi-year natural gas import agreements to address a projected supply shortfall and stabilise domestic prices.

Brazil plans extra offshore auction to boost revenue, Petrobras mulls Indian oil blocks

The Brazilian government is planning an extra auction this year of stakes in offshore oil areas to raise approximately BRL20bn ($3.4bn) in a "worst case" scenario, according to four sources familiar with the matter

Hess to relinquish 94% of undeveloped territory in Guyana and Suriname

Hess Corporation intends to relinquish 94% of its net undeveloped acreage, primarily in Guyana and Suriname, over the next three years, according to its 2024 annual report.

YPF expresses confidence in Argentina's energy market despite oil price slump

YPF CEO Horacio Marín has expressed confidence in Argentina's energy sector despite the recent downturn in global oil prices, saying that the company's operations in Vaca Muerta remain economically viable even at lower price points.

Managing methane emissions in the Trump era: interview

Beyond an earnest desire to minimise the environmental impact of operations, it also pays for investors to take the issue seriously, Clayton Nash, the director of emissions solutions at Colorado-based Tegre, tells Newsbase.

ExxonMobil begins new drilling operations in Guyana

ExxonMobil has begun appraisal drilling at the Barreleye-2 well in Guyana's prolific Stabroek Block, according to a notice from the country's Maritime Administration Department.

Arrow Exploration expands Colombian output with new horizontal wells

Canadian-based Arrow Exploration has reported a significant boost in its Colombian operations, with current production surpassing 4,500 barrels of oil equivalent per day (boe/d)

PDVSA halts Chevron shipments as US tariffs disrupt Venezuela oil trade

Venezuela’s state-run oil firm PDVSA has revoked multiple permits previously granted to Chevron for exporting crude, marking a significant shift in the country’s oil dealings with the United States

Chevron begins withdrawing from Venezuela as US sanctions deadline nears

Chevron has begun returning oil shipments to Venezuela’s state-owned producer PDVSA, according to Vice President Delcy Rodríguez, as tightening US restrictions complicate the company’s ability to continue operating in the country

Colombia faces fiscal strain amid oil price decline

Colombia's economy is confronting significant challenges due to a sharp decline in oil prices and a weakening peso. The benchmark Brent crude has fallen below $62 per barrel, a four-year low.

Colombian crude prices surge amid US tariff turmoil

Colombian heavy sour crude grades, notably Castilla and Vasconia, have experienced a significant narrowing in their discounts to ICE Brent, reaching levels not seen in over four years. This shift is attributed to the uncertainty US tariffs

Magda Chambriard stays on at Brazil’s Petrobras’ helm for two more years

Brazil’s Petrobras’ board has unanimously approved the reappointment of Magda Chambriard as chief executive, extending her mandate until April 2027.

Diesel price swings shake up Brazil imports

Volatile international diesel prices and a recent price cut by state-owned Petrobras have created new opportunities for fuel imports into Brazil, following a sharp drop in global commodity markets triggered by fresh US trade measures.

Brazil’s Petrobras pushes ahead on Tupi field

Brazil’s Petrobras is close to settling a long-standing tax dispute with Brazil’s oil regulator that would unlock investment plans for the Tupi deep-water field.

Brazil sees risk of global recession as US-China tensions escalate

Colombia faces looming natural gas shortfall as self-sufficiency declines

Colombia’s domestic natural gas reserves may only last another six years unless exploration and production are rapidly scaled up.