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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Eni signs MoU with YPF on Argentina LNG project

16 April 2025

Italian energy firm Eni has signed a memorandum of understanding with Argentina’s state-run energy company YPF to assess partnering in the country’s flagship Argentina LNG project.

Venezuela’s economic fragility resurfaces as sanctions hit oil revenue

16 April 2025

Venezuela’s brief spell of economic respite is fast eroding as renewed US sanctions batter oil revenues, with President Nicolás Maduro’s government left with little room to manoeuvre amid a worsening macroeconomic backdrop, EFE reported

PDVSA unit powers ahead with key refining infrastructure for Venezuela's Orinoco Oil Belt

16 April 2025

Venezuelan Heavy Industries, CA (Vhicoa), a subsidiary of state-owned oil company PDVSA, is advancing Venezuela’s energy infrastructure with the construction of two massive crude desalination plants

US tariffs to stall Venezuela’s non-oil exports as trade dynamics shift

16 April 2025

Newly imposed reciprocal tariffs by the Trump administration are expected to dampen Venezuela’s non-oil export activity in the short term, adding pressure to an already fragile sector.

Chevron tankers laden with Venezuelan crude held amid sanctions dispute

16 April 2025

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.

Colombia's Ecopetrol faces profit squeeze amid oil price slump

15 April 2025

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

15 April 2025

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

15 April 2025

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

15 April 2025

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

15 April 2025

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

15 April 2025

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

14 April 2025

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

14 April 2025

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

14 April 2025

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

14 April 2025

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

14 April 2025

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

14 April 2025

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

14 April 2025

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

14 April 2025

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

13 April 2025

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

13 April 2025

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

13 April 2025

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

13 April 2025

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

11 April 2025

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

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