LatAmOil - Latin America Oil & Gas

Venezuela’s vast oil reserves come into focus after Maduro’s capture

The arrest of Nicolás Maduro and his wife, Cilia Flores, by US forces has thrown fresh uncertainty over the future of Venezuela’s oil industry, home to the world’s largest proven crude reserves

Venezuela bonds jump on US intervention bets despite restructuring risks

Venezuelan sovereign debt surged after the arrest of Nicolás Maduro by US authorities and Washington’s assertion that it would take temporary control of the country

Venezuela oil shipments slip past blockade as Chevron resumes exports

A wave of oil tankers has quietly departed Venezuela with tracking signals disabled, pointing to covert flows of crude and fuel even as a US naval blockade seeks to enforce a sweeping embargo

Venezuela curbs oil output as US blockade chokes exports and storage

Venezuela has started scaling back crude production after state-owned PDVSA ran short of storage capacity, underscoring the impact of a US oil blockade that has effectively frozen exports

Geopolitical volatility triggers OPEC+ retreat to market neutrality

The leading factions of the OPEC+ alliance have opted to maintain current crude production ceilings

Colombia's Ecopetrol assumes full control of Caribbean offshore gas blocks after Shell exit

Ecopetrol has taken full ownership and operatorship of several offshore gas exploration blocks in Colombia’s southern Caribbean after the National Hydrocarbons Agency formalised the transfer of Shell Ep Offshore Venture’s 50% stake

Frontera secures $120mn Chevron prepayment to reinforce Colombia liquidity

Frontera Energy Corp has agreed a $120mn crude prepayment and commercial supply arrangement with Chevron Products Company through its Colombian subsidiary, a move aimed at strengthening short-term liquidity and managing working capital

Indian Oil Corp turns to Colombian crude as Russia supplies tighten

Indian Oil Corp has purchased its first cargo of Colombian crude under an optional supply agreement with state-controlled producer Ecopetrol, as India’s largest refiner moves to diversify feedstock away from Russian oil

Octavio Barrera appointed Pemex upstream chief as output stagnates below 1.8mn barrel daily target

Pemex disclosed Octavio Barrera will helm its Exploration and Production division, replacing Ángel Cid who departs after directing one of the enterprise's most pivotal operations, Mexico Business News reported.

Japanese technical cooperation programme targets combustion optimisation at Mexico's Pemex Nuevo León refining facility

Pemex regularises supplier payments in Veracruz region, settling outstanding 2024 obligations totalling $83.9mn

Pemex has commenced regularising payments to suppliers in Veracruz's southern region, settling not only current 2025 obligations but also addressing debts accumulated in 2024, Mexico Business News reported.

Harbour Energy secures operational control of Mexico's 750mn barrel Zama offshore petroleum field

British independent petroleum enterprise Harbour Energy has obtained operational authority over Mexico's Zama offshore petroleum project following partner consortium approval, Offshore Technology reported.

Venezuela’s oil will cost US oil firms billions of investment before earning dollar one

US President Donald Trump says that the US will take over running Venezuela and get the oil sector back on its feet so everyone can “make lots of money.” But underinvestment and corruption means they will have to invest billions first.

Mexico's Pemex November crude export revenues halve as production misses government targets

Coastal Contracts consortium secures $1.14bn Pemex contract for Mexico's Ixachi gas field expansion infrastructure

Coastal Contracts secured a large-scale engineering, procurement and construction agreement with Pemex expanding its role in developing the Ixachi onshore gas field, one of Mexico's most strategic natural gas assets.

Pemex's debt instruments yield 24% gains as Mexican government's $41bn borrowing programme shores up oil company's finances

Mexico President defends Cuba petroleum shipments as sovereign prerogative amid Washington criticism

Mexico accelerates refined fuel self-sufficiency as Pemex import volumes fall 22% through October

Mexico's state oil company Pemex cut refined fuel purchases 22% during January through October 2024 versus the comparable 2023 period, averaging 414,000 barrels daily compared with 534,000 barrels daily previously

Brazil’s ANP sets course on reserves and fuels

Brazil’s Petrobras widens gas imports

Petrobras has received authorisation from Brazil’s oil and gas regulator ANP to import up to 20mn cubic metres per day of natural gas from Bolivia for a period of two years.

US intervention in Venezuela could slow Argentina's oil investments, government warns

Brazil’s Petrobras auctions retired platforms

Brazil’s Petrobras will auction two inactive offshore platforms as part of its decommissioning programme, offering the P-26 unit with a minimum bid of BRL1.5mn ($270,000) and the P-19 unit starting at BRL1.6mn.

ANP resets Brazil gas tariffs

Brazil’s hydrocarbons regulator ANP has approved changes to the natural gas transport tariff regime, setting rules for capacity contracting and a pricing model for entry and exit points.

Brazil’s Petrobras switches on Búzios boost

Petrobras has begun producing oil from the FPSO P-78 at the Búzios 6 project in Brazil’s Santos basin, adding new capacity to the country’s largest producing offshore field.

Argentina surpasses Colombia as Latin America's fourth-biggest oil producer

Argentina has overtaken Colombia as South America's fourth-largest oil producer, driven by surging Vaca Muerta shale output that now accounts for nearly 70% of national production.