LatAmOil - Latin America Oil & Gas

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Oil & Gas

Region: Latin America   Category: Oil & Gas Frequency: Every Tuesday

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Overview

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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Pemex receives $112.7bn in government support since 2013

27 February 2025

Mexican state oil company Pemex, one of the most indebted oil companies globally, has received more than MXN2.3tn ($112.7bn) in government support since 2013

Canada's Canacol Energy expands Colombia's investment despite declining gas output

27 February 2025

Canacol Energy, a Canadian firm, has unveiled plans to elevate its 2025 capital expenditure to between $143mn and $160mn, surpassing the previous year's $123mn investment.

Banamex expects Mexico oil output to fall to 1979 levels by 2026

27 February 2025

Mexico's oil production will drop to levels not seen since 1979, with output declining to 1.5 million barrels per day (bpd) in 2025 and further to 1.4mn bpd in 2026

Trump axes Venezuela oil licences in blow to Chevron

26 February 2025

US President Donald Trump has announced the revocation of licences granted by the Biden administration that allowed US oil companies to operate in Venezuela despite crippling sanctions on the country, a move that particularly affects Chevron.

Brazil's environment minister defends regulator's autonomy amid oil exploration controversy

26 February 2025

Brazil’s Environment Minister Marina Silva has affirmed that decisions on the national oil company (NOC) Petrobras' controversial Amazon oil exploration project will be based solely on technical analysis from environmental regulator Ibama.

Trinidad and Tobago seeks US extension to allow Shell to develop gas field

26 February 2025

Trinidad and Tobago will seek an extension from the US government for a licence that allows Shell and the National Gas Company to develop the Dragon gas field project in Venezuelan waters.

Equinor’s Bacalhau FPSO arrives in Brazil

26 February 2025

The Bacalhau floating production, storage and offloading (FPSO) vessel has arrived in Brazil’s Santos Basin, preparing to start operations for Equinor - a multinational energy company that operates in oil and gas, renewables and low-carbon solutions.

Colombia's energy sector faces regulatory challenges amid investor concerns

26 February 2025

Colombia's energy sector, lauded for its reliability over the past three decades, is currently navigating a difficult period. Industry leaders express apprehension over recent regulatory interventions by the national government.

Chevron’s role in Venezuela’s recovery at risk as Trump weighs options

26 February 2025

Chevron rescues Venezuela's economy, pumping 240,000 barrels daily amid sanctions thanks to an ad-hoc licence. Trump's wavering policy now keeps Maduro's regime balancing on a razor's edge of economic survival as the permit could be revoked.

Afreximbank to drive $1bn oil service financing in Guyana

26 February 2025

Afreximbank has announced plans to establish a $1bn oil service financing facility in Guyana, aiming to boost local participation in the country's rapidly expanding oil sector.

ExxonMobil hires Shearwater GeoServices to perform 4D survey offshore Guyana

26 February 2025

ExxonMobil has secured the services of Norwegian firm Shearwater GeoServices for a six-month 4D ocean bottom node survey offshore Guyana, set to commence in the first half of 2025.

Chevron restructures operations, announces layoffs amid Venezuelan drama and Hess uncertainty

26 February 2025

As part of its broader efficiency drive, supermajor Chevron will cut 15% to 20% of its global workforce by year-end, a move revealed during a recent internal town hall meeting.

Brazilan Vibra Energia bets on cash flow after Comerc deal

26 February 2025

Vibra Energia, a Brazilian company that distributes fuels, lubricants and energy, will focus on increasing free cash flow and maximising synergies following the acquisition of the remaining 50% stake in energy trader Comerc.

Trump slams Biden over Venezuela oil, says Maduro was ‘ready to go’

26 February 2025

Trump took aim at Biden’s 2022 decision to grant Chevron permission to expand oil production in Venezuela, reversing some of the sanctions imposed during Trump’s first term

Venezuelan officer arrested for PDVSA corruption

26 February 2025

Despite a background marked by corruption, influence, and his involvement in the death of his ex-girlfriend, Manuel Salvador Parra received a promotion to president of PDVSA Marina in 2020 under Nicolás Maduro’s regime

Colombia's Ecopetrol to enhance gas imports amid domestic shortfall

25 February 2025

Ecopetrol SA plans to address Colombia's declining natural gas reserves by developing two import facilities operational by next year. These terminals aim to bridge the domestic supply gap until offshore Caribbean wells commence production.

Mexico's reliance on US gas to grow despite trade uncertainties, Fitch says

25 February 2025

Mexico's reliance on American natural gas imports is set to deepen over the coming years as domestic production falters and demand surges, according to a recent assessment from Fitch Ratings.

Colombia's Ecopetrol's reserve growth amid strategic shifts

25 February 2025

Ecopetrol, Colombia's state-controlled oil firm, reported a 104% replacement of its 2024 production, effectively doubling the proven reserves added compared to 2023.

Uruguay pursues offshore oil, gas exploration while pushing renewable energy transition

25 February 2025

Uruguay’s state-owned energy company, Ancap, is optimistic about the potential for offshore oil and gas discoveries, while the country pushes forward with its decarbonisation agenda.

Brazil’s drilling firm Constellation plans Oslo stock market listing

25 February 2025

Brazil’s offshore drilling services provider Constellation, which operates 22% of the country's offshore rigs, has announced plans to list its shares on Euronext Growth Oslo.

Brazil’s Petrobras secures $1.1bn funding package for decarbonisation efforts

25 February 2025

Brazil’s national oil company (NOC) Petrobras has arranged a $1.1bn financing package with state-owned Banco do Brasil to fund sustainability and energy transition initiatives

Equinor to divest from Vaca Muerta, focus on Argentine onshore assets

25 February 2025

Norwegian oil giant Equinor is reportedly looking to divest its onshore assets in Argentina's prolific Vaca Muerta shale formation, according to a report by Mas Energia citing undisclosed sources.

Pemex gas output hits 30-year low as imports soar to 73% of supply

25 February 2025

Mexican state oil company Pemex's gas production fell 8.1% to 3,731mn cubic feet per day in 2024, the lowest level since 1994, as lawmakers advance tax relief to boost extraction

Mexico fuel retailers resist President's proposed gasoline price cap

25 February 2025

Federal authorities and fuel sector representatives remain at odds over planned petrol price controls despite ongoing discussions

Colombia's Ecopetrol moves to mitigate gas deficit with imports

25 February 2025

Ecopetrol SA aims to counter Colombia’s declining natural gas reserves by establishing two import terminals set to commence operations next year

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