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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Guyana's natural gas output catching up to Trinidad and Tobago

13 February 2025

Guyana's emergence as a major energy producer continues to reshape regional dynamics, with projections indicating that the country will reach natural gas production of 31.86mn cubic metres per day by 2030.

Chevron relying on Hess Guyana stake to boost profitability

13 February 2025

Major US oil producer Chevron is looking to strengthen its portfolio through the $53bn acquisition of Hess Corp, with particular interest in Hess's lucrative Guyana assets, where over 11bn barrels of oil equivalent resources have been discovered.

Maurel & Prom expands in Colombia with $150mn gas licence deal

13 February 2025

French oil major Maurel & Prom (M&P) has entered into an agreement to acquire a 40% operating interest in the Sinu-9 gas block in Colombia, marking a significant expansion of its Latin American portfolio.

Maduro’s regime seeks US help to extradite opposition figures over alleged Citgo asset theft

13 February 2025

Venezuela’s public ministry plans to formally request legal cooperation from the US to pursue corruption charges against several opposition figures, including the former National Assembly leader, Juan Guaidó.

US midstream and other oil, gas projects may get pricier with Trump’s latest tariffs

13 February 2025

Oil and gas drilling equipment and pipelines are made of steel and aluminium. And with Trump's latest tariffs, building new transmission lines, which are necessary for rapidly growing gas-fuelled electricity, would get more expensive.

Colombia's Ecopetrol faces production cut as Petro pushes fracking exit

13 February 2025

Colombia’s state-run oil company, Ecopetrol, could see daily output shrink by 90,000 barrels if it withdraws from its fracking operations in the US.

Brazil’s Petrobras eyes Indian deepwater oil blocks in global expansion push

12 February 2025

Brazil's national oil company Petrobras is evaluating opportunities in India's deepwater and ultra-deepwater crude blocks as it seeks to diversify its reserves beyond its traditional pre-salt fields.

PDVSA ramps up light crude imports as domestic supply struggles

12 February 2025

Venezuela’s state oil company PDVSA has resumed steady imports of light crude to compensate for declining domestic production, which has created bottlenecks in the production of export-grade blends

Guyana government to terminate Frontera Energy and CGX license for offshore block

12 February 2025

Guyana's government has moved to terminate Frontera Energy Corporation and CGX Energy's license for the Corentyne offshore block, marking a significant shift in the country's handling of petroleum agreements with international operators.

Florida tycoon facilitates Maduro-Trump deal, paving the way for increased oil sales

12 February 2025

A Florida businessman with deep ties to the Republican Party brokered a significant meeting between Nicolás Maduro and a special envoy for President Donald Trump, initiating negotiations that could see Venezuela ramp up its oil exports to the US

Trinidad and Tobago reports surge in LNG export revenue

12 February 2025

Trinidad and Tobago is reporting significant gains in LNG export revenue, with cargo prices reaching 15% to 55% above Henry Hub rates, according to Energy Minister Stuart Young.

Venezuela criticises oil sanctions at India Energy Week, stresses its role in global market

12 February 2025

Venezuelan Executive Vice President Delcy Rodríguez has called the exclusion of Venezuela from the global oil market “absurd,” attributing this to ongoing economic sanctions imposed by the United States

Trinidad and Tobago seeks US review of sanctions to unlock joint energy projects with Venezuela

12 February 2025

Trinidad and Tobago’s Prime Minister Keith Rowley announced that he intends to engage the US government to highlight the significance of the country’s oil and gas ventures with Venezuela

Venezuela's asphalt cement exports surge as US dominates shipments

12 February 2025

Venezuelan exports of AC-30 asphalt cement experienced a notable jump in January, reaching 525,000 barrels, a 54% increase compared to December’s 243,000 barrels, according to data from the Paraguaná Refining Centre

Maduro’s regime seeks US cooperation to extradite opposition figures over alleged Citgo asset theft

12 February 2025

Venezuela’s Public Ministry plans to formally request legal cooperation from the United States to pursue corruption charges against several opposition figures, including former National Assembly leader Juan Guaidó

Brazil’s Ultrapar unveils 2025 investment plan

12 February 2025

Ultrapar, a Brazilian oil and gas company, announced an investment plan for 2025, allocating up to BRL2.54bn ($440mn).

Brazil’s PetroReconcavo sees 3.1% rise in January production

12 February 2025

Brazil’s PetroReconcavo reported a 3.1% increase in oil and gas production for January 2025, reaching an average of 26.8 thousand barrels of oil equivalent per day (boepd).

Colombia’s oil sector at a crossroads: challenges and opportunities in a changing market

12 February 2025

The onset of 2025 has seen oil prices experience significant volatility, influenced by factors such as China's economic slowdown, increased output from non-OPEC+ nations, and new US sanctions on Russia's energy sector.

Brazil’s Brava Energia sells 13 onshore oil fields for $15mn

11 February 2025

Brava Energia has agreed to sell 13 small onshore oil fields in Brazil’s Potiguar basin to a consortium of Azevedo & Travassos and Canada’s Petro-Victory Energy for $15mn.

Vaca Muerta drives Argentina's oil and gas output to record high in 2024

11 February 2025

Argentina achieved record oil and gas production in 2024, driven primarily by developments in the Vaca Muerta formation, with national oil company YPF leading the charge in both conventional and unconventional resources.

Bank of Guyana confirms $3.195bn in withdrawals from Natural Resource Fund, driven by oil revenues

11 February 2025

Guyana's management of its oil revenues has entered a crucial phase, with the Bank of Guyana reporting total withdrawals of $3.195bn from the Natural Resource Fund between 2022 and 2024.

Petroecuador closes $128mn sale of Oriente crude oil from Ecuador

11 February 2025

Petroecuador has secured approximately $128mn for Ecuador through its second spot sale of Oriente crude oil in 2024, with Chinese firm Petrochina winning the contract for 1.44mn barrels at a differential of -$3.91 per barrel.

Brazil's Petro-Victory to buy 13 oil fields in $15mn deal

11 February 2025

Canadian-listed Petro-Victory Energy Corp said on February 10 it would acquire stakes in 13 oil fields in Brazil's Potiguar Basin for $15mn, partnering with Azevedo & Travassos Petroleo.

Trump's ambition to boost oil and gas industry a threat to Guyana, president claims

11 February 2025

Guyana's President, Dr Mohamed Irfaan Ali, has prioritised economic diversification amid looming global economic challenges, particularly those stemming from potential US policy shifts in oil and gas exploration.

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