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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Petrobras and Equinor dominate Brazil's pre-salt auction as some majors hold back
Petrobras and Equinor emerged as the leading victors in the auction for offshore pre-salt exploration areas held on October 22, securing one block each individually and partnering on a third.
Petrobras starts drilling exploratory well in Brazil's Amazon River mouth as COP 30 approaches
Brazil’s state-controlled energy giant Petrobras has received long-sought environmental approval and has started to drill an exploratory oil well near the mouth of the Amazon River, in the region known as the Foz do Amazonas Basin.
GeoPark targets output growth as Argentina's Vaca Muerta entry triggers dividend cut
GeoPark outlined a decade-long expansion strategy pivoting towards Argentina's Vaca Muerta formation whilst suspending dividends to fund development, the company stated at its New York Stock Exchange investor presentation.
Venezuela tells Trinidad and Tobago to pay for gas, rejects US mediation
Venezuelan Vice President Delcy Rodríguez warned Trinidad and Tobago that they must pay for Venezuelan gas if they wish to access it
Peru oil output rises, Talara output shifted to private operators
Peru’s oil sector recorded a strong rebound in September, with national crude output climbing 21.8% year-on-year to 42,400 barrels per day
Peru shifts Talara output to private operators amid Petroperú turmoil
Peru has opened a new phase in its hydrocarbons policy by transferring long-term operations in Talara’s key onshore blocks to private operators
ExxonMobil advances exploration offshore Guyana, with Uaru and Whiptail progressing
ExxonMobil is making substantial progress on its fifth and sixth offshore developments in Guyana, with both the Uaru and Whiptail projects advancing on schedule toward production startup in 2026 and 2027 respectively.
Galp Energia plans to expand frontier exploration in Africa amid strong demand for oil
Portuguese integrated energy company Galp Energia is planning to expand frontier exploration in Africa amid continuing strong demand for fossil fuels in Europe.
Citgo and Venezuela urge court to dismiss Elliott subsidiary’s low bid
The challenge comes as the court works to finalise the sale of PDV Holding, Citgo’s parent company, to compensate up to 15 creditors affected by Venezuela’s debt defaults and expropriations
Gold Reserve challenges Citgo auction over alleged conflict of interest
The company filed a complaint on October 20, alleging that the firms overseeing the sale received roughly $170mn in fees from parties with a vested interest in the outcome
Petrobras secures controversial Amazon drilling licence ahead of COP30 climate summit
Brazil's Petrobras has obtained authorisation to drill an exploratory well near the mouth of the Amazon River, sparking fierce criticism from conservationists just weeks before Brazil hosts UN climate talks.
Brazil nears Petrobras drilling decision
Brazil’s environmental agency Ibama has advanced the approval process for Petrobras’s drilling licence in the Foz do Amazonas basin after a virtual meeting, according to official minutes.
Brazil clears Prio to restart Peregrino output
Brazil’s oil regulator ANP has authorised Prio to resume production at the FPSO Peregrino, operated by Equinor, according to a company filing.
Argentina's Central Puerto signs deal with Axion Energy for renewable-powered fuel refinery
Argentine energy company Central Puerto has signed a five-year power purchase agreement with fuel marketer Axion Energy to supply renewable electricity to its Campana refinery in Buenos Aires province.
Colombia's Ecopetrol plunges to 17th in reputation ranking amid governance crisis
Colombia's state-controlled oil producer Ecopetrol tumbled to 17th place in the 2025 Merco corporate reputation ranking from sixth position in 2024, marking an unprecedented decline for the nation's largest company.
US judge orders PDVSA to pay $2.86bn as Citgo auction faces new scrutiny
The decision, issued on October 17 by the Southern District of New York, follows a previous judgment upholding the validity of Venezuela’s defaulted bonds. The debt in question is backed by shares in Citgo Petroleum
Colombian offshore gas venture reaches consultations milestone
Colombia's Ecopetrol and Brazil's Petrobras have completed roughly half of required consultations with local communities for its Sirius gas development in Colombian waters, bringing the $5bn Caribbean project closer to commercial deployment.
Brazil’s Petrobras secures licence to drill exploratory well in Foz do Amazonas Basin
Petrobras has obtained environmental authorisation from regulator Ibama to drill an exploratory well in deepwater block FZA-M-059 off the coast of Amapá, 500km from the Amazon River mouth and 175km from shore.
All of Guyana's Yellowtail oil exports in September bound for Europe
Guyana exported four crude oil cargoes from its newly operational Yellowtail project in September, marking the first shipments from the development that commenced production in August.
Guyana-Venezuela border tensions simmer as ExxonMobil production continues
Tensions over the contested Essequibo region have intensified as Venezuela's authoritarian President Nicolás Maduro escalated territorial claims against Guyana, prompting the small South American nation to seek security aid from the United States.
Output starts at major Bacalhau oilfield in Brazil
Equinor has started oil production from the Bacalhau field in Brazil’s Santos Basin, the Norwegian state-controlled company said, marking its first operated pre-salt project in the country.
Petrobras makes fourth oil find in Brazil’s pre-salt this year
Brazilian state-controlled oil firm Petrobras informed the National Petroleum Agency (ANP) of a new oil discovery in well 3-BRSA-1400A-SPS, drilled in the Aram block of the Santos Basin.
Venezuelan bonds surge as investors bet on political shifts and US pressure
The rally marks a dramatic turnaround for debt that has languished in default since 2017, when US and international sanctions effectively blocked the country from any restructuring process
Venezuela reaffirms support for OPEC+ as ties with Russia deepen
Speaking virtually at Russia Energy Week 2025 on October 15, Rodríguez said Venezuela remains a staunch defender of the group’s framework, which she described as essential to ensuring a sustainable energy future
Colombia's GeoPark commits $14.5mn to Vaca Muerta pilot project in Argentina
Colombian oil explorer GeoPark will deploy $14.5mn in a pilot venture within Argentina's Puesto Silva Oeste block. The three-year programme will target the Vaca Muerta shale formation in southwestern Neuquén province.
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