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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Rubio rules out Chevron Venezuela licence extension after conflicting signals
The US administration is set to revoke Chevron's licence to operate in Venezuela on May 27, as initially scheduled, contrary to recent Bloomberg reports that suggested a longer extension was likely.
Brazil’s Petrobras bets on single-hose subsea plan
Brazil’s Petrobras and OneSubsea have signed a Memorandum of Understanding to jointly develop a new hybrid umbilical system for subsea operations, the companies said.
Brazil’s senate fast-tracks oil licensing
Brazil’s senate approved a new environmental licensing bill, incorporating an amendment from Senate President Davi Alcolumbre that could accelerate oil exploration in the Equatorial Margin.
Brazil plays both sides at COP 30
Brazil will argue that its status as a developing country allows it to expand oil production while pushing developed nations to take the lead in phasing out fossil fuels at the UN COP30 climate summit in November, according to officials and analysts.
Brazil’s Petrobras eyes Amazon drilling by June
Brazil’s Petrobras is preparing a drill ship to head to the Foz do Amazonas Basin as early as the end of May, pending final approval from Brazil’s environmental regulator Ibama.
Guyana's vice president warns Frontera Energy against pursuing court case over oil block
Guyana's Vice President, Dr Bharrat Jagdeo, has escalated tensions with Canadian oil company Frontera Energy, threatening to expose alleged inflated costs if the firm proceeds with legal action over the disputed Corentyne Block.
Advario, Braskem Idesa open $500mn ethane terminal in Mexico
Advario and Braskem Idesa inaugurated a $500mn ethane import terminal in Coatzacoalcos, Veracruz, completing key infrastructure to secure long-term feedstock supply for Mexico's petrochemical sector.
Renewables could cut Mexico's dependence on US gas imports, study shows
Mexico could reduce reliance on imported US natural gas by 20% through renewable energy expansion, achieving Mexican President Claudia Sheinbaum's target of 45% clean electricity generation by 2030
Colombia's Ecopetrol to purchase renewable portfolio as European giant exits
Colombia's state oil company Ecopetrol has agreed to acquire a renewable energy portfolio totalling 1.36 gigawatts from Norwegian utility Statkraft European Wind and Solar Holding.
Venezuela reroutes crude shipments to Asia as Chevron prepares to exit
Venezuela’s state oil company PDVSA has resumed independent exports of Boscan heavy crude, a grade previously handled by Chevron, after cancelling scheduled shipments to the US energy giant over payment concerns.
Colombia oil discoveries plunge 56%, growing economy relies overly on government expenditure
Colombia's hydrocarbon exploration activity contracted for the second consecutive year with discoveries plummeting 56% in 2024, raising serious concerns about the nation's energy security and fiscal outlook.
Colombia oil discoveries plunge 56%, growing economy relies overly on government expenditure
Colombia's hydrocarbon exploration activity contracted for the second consecutive year with discoveries plummeting 56% in 2024, raising serious concerns about the nation's energy security and fiscal outlook.
Colombia oil discoveries plunge 56% as exploration activity falters
Colombia's hydrocarbon exploration activity contracted for the second consecutive year with discoveries plummeting 56% in 2024, raising serious concerns about the nation's energy security and fiscal outlook.
Brazil’s Petrobras hits 180K bpd at Mero field
Brazil’s Petrobras said that the FPSO Marechal Duque de Caxias reached peak output of 180,000 barrels per day (bpd) on May 19 at the Mero field in Brazil’s Santos Basin pre-salt.
Natural gas set to become primary driver of Guyana's economy, ExxonMobil executive claims
Natural gas is poised to become a cornerstone of Guyana's economic development in the 21st century, according to Hunter Farris, senior vice president for Deepwater at ExxonMobil Upstream Company.
Organised crime costs Mexico’s Pemex billions in oil smuggling, says US
Mexican oil has become an international business artery for drug cartels, according to the US Drug Enforcement Administration (DEA). In its most recent drug trafficking report, the agency alleges that drug cartel businesses have diversified
Mexico's Pemex drilling hits 30-year low amid crude output decline
Mexican state oil company Pemex completed drilling of only 17 wells during the first quarter of 2025, the lowest figure for a similar period in three decades, according to the company's quarterly financial report.
Mexico's Pemex drilling hits 30-year low amid crude output decline
Mexican state oil company Pemex completed drilling of only 17 wells during the first quarter of 2025, the lowest figure for a similar period in three decades, according to the company's quarterly financial report, Mexico Business News reported.
Mexico's oil champion Pemex grows isolated amid mounting ecological damage
Pemex, Mexico’s state-owned oil company, is facing growing criticism for its significant role in hydrocarbon-related environmental damage and its apparent lack of sufficient response strategies.
Brazil’s Petrobras edges closer on Amazon oil plan
Brazil's environmental agency Ibama has granted national oil company (NOC) Petrobras approval to move forward with a key step toward drilling in the coveted Foz do Amazonas basin, though it issued a significant warning about future licensing.
Norwegian DOF locks $480mn Brazil’s Petrobras deal
Norwegian offshore vessel operator DOF Group has secured four long-term contracts with Petrobras for its anchor handling tug supply (AHTS) vessels, the company said.
Pemex under fire for worsening environmental impact
Petróleos Mexicanos (Pemex), Mexico’s state-owned oil company, is facing growing criticism for its significant role in hydrocarbon-related environmental damage and its apparent lack of sufficient response strategies.
Venezuela deepens oil partnership with India as sanctions cast shadow
Venezuela is reinforcing its strategic relationship with India, one of its largest oil buyers, as the two nations look to strengthen ties in the face of mounting external pressure
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