LatAmOil - Latin America Oil & Gas

Stena Drilling wins Shell contract for drilling operations offshore Suriname

Shell subsidiaries have awarded a contract to Stena Drilling for the use of the Mobile Offshore Drilling Unit (MODU) Stena DrillMAX in offshore operations in Suriname, scheduled to begin in the second half of 2025.

Petronas reveals timeline for offshore Suriname drilling as FLNG development considered

Malaysian state-controlled energy company Petronas has disclosed extra information regarding its proposed three-well programme offshore Suriname, as it considers a potential integrated development using a floating liquefied natural gas solution

Mexico eyes fracking expansion to reduce US gas dependence

Mexico explores fracking expansion to cut US gas dependence

Mexico has begun preliminary discussions with private sector companies about increasing fracking to reduce its reliance on US natural gas amid growing trade tensions between the two countries, Reuters reported on April 8.

OPEC output falls as sanctions imposed on Iran, Venezuela

OPEC oil output fell in March in place of an expected output increase, according to a Reuters survey revealed on April 7, with Iran, Nigeria and Venezuela all reducing supply.

Colombia weighs impact of Trump’s 10% tariff amid wider trade realignment

Venezuelan oil still flowing despite US tariff threats and sanctions

Despite the escalating restrictions, maritime data suggest oil shipments from Venezuela are far from drying up

Maduro to invoke emergency powers as Venezuela braces for trade headwinds

Nicolás Maduro said he will enact a constitutional decree granting his government expanded economic powers, as the country grapples with intensifying external pressure and growing global uncertainty

Argentine energy sector rises following shale gas exports to Brazil via Bolivia

Argentina's Vaca Muerta shale gas began flowing to Brazil via Bolivian pipelines on April 1, marking a significant milestone in the country's energy export strategy.

Venezuela raises alarm over suspected plot targeting ExxonMobil site off Guyana

Argentine crude oil output set to surge in 2025, report finds

Argentina's crude oil production is projected to surge 15.8% to 830,000 barrels per day in 2025, approaching the nation's historic record of 847,000 bpd established in 1998.

Argentine oil production rises in February with Vista Energy leading the charge

Argentina's oil production reached an average of 754,008 barrels per day in February 2025, according to the latest data from the Ministry of Energy, with Vista Energy emerging as a key player in the domestic oil market.

Oil price collapse poses fiscal challenges for Colombia amid global trade tensions

The recent imposition of extensive tariffs by the US administration has led to significant volatility in global markets, with Brent crude oil prices plummeting to $65.58 per barrel, the lowest in four years.

Colombia's Ecopetrol and Latam Airlines forge alliance to advance sustainable aviation

Ecopetrol and Latam Airlines Colombia have initiated a strategic partnership to propel the nation's aviation sector towards sustainability.

Mexico's Pemex faces bigger threat from low investment than tariffs: Moody's

Mexican state oil company Pemex faces a bigger risk to its credit rating from a lack of crude production investment than from US tariffs

Mexico’s LNG ambitions face risks from US policy, weather and market volatility

Mexico's booming liquefied natural gas (LNG) industry risks disruption from forces outside its control, including extreme weather and US regulatory decisions.

OPEC+ play undercuts Brazil, lower revenue ahead

OPEC+ will raise oil output by 411,000 barrels per day from May, tripling the planned increase for 2024 and surprising markets.

Ecopetrol resumes operations at key Colombian oil fields following indigenous accord

On April 4, Colombia's state-controlled oil firm, Ecopetrol, announced the recommencement of activities at its Rubiales and Caño Sur fields after reaching an agreement with the Unuma Indigenous Association, which had been obstructing access.

Fitch affirms Petrobras' credit rating at 'BB'

Fitch affirmed the Brazilian state oil company's rating at 'BB' on April 3 with a stable outlook.

Oil falls 3.75% amid global trade war recession fears

Oil prices fell 3.75% on April 7, continuing last week's losses, as escalating trade tensions between the United States and China fuelled fears of an economic recession that could reduce crude demand.

Shell restructures globally, elevates Brazil's status as key business unit

Shell has implemented a global corporate restructuring that increases Brazil's importance within the company's operations, reflecting the country's growing significance in the European energy major’s portfolio

BW Energy secures Brazilian license extension as parent company settles arbitration dispute

BW Energy has secured an extension to its Golfinho license production phase from Brazil's oil and gas regulator ANP, while its parent company BW Offshore has reached a settlement in a long-running arbitration case with another Brazilian operator

Brazil’s Petrobras secures wildlife unit license amid Equatorial Margin oil exploration push

Brazil’s national oil company (NOC) Petrobras has obtained a license from the Secretariat for the Environment of Amapá state to operate its Wildlife Care and Rehabilitation Unit in the municipality of Oiapoque

Mexico cuts oil output target by 129,000 bpd for 2025

Mexico's finance ministry revised down the country's crude oil production target by 129,000 barrels per day (bpd), Reuters reported.

Colombia's unpaid gas subsidies risk energy access for vulnerable households

The Colombian government's outstanding debt of approximately COP65bn to liquefied petroleum gas (LPG) distribution companies threatens to disrupt energy access for low-income families.