LatAmOil - Latin America Oil & Gas

Petrobras pushes for gas market commitment

Petrobras President Magda Chambriard has reaffirmed the state-owned company's efforts to increase Brazil’s gas supply, but stressed that market demand is essential for advancing projects.

Brazil's Petrobras awards SLB OneSubsea contract for Búzios field enhancement

OneSubsea, a joint venture between SLB, Aker Solutions and Subsea7, has won a competitive tender from Brazil’s national company (NOC) Petrobras to supply two subsea raw seawater injection (RWI) systems for the deepwater Búzios field offshore Brazil.

Colombia’s Petro faces fiscal hurdles as lawmakers reject key tax reform

Mexico’s energy overhaul: Constitutional amendments, regulatory shake-ups and growing gas dependence

Mexico's energy sector is facing a significant overhaul following the approval of constitutional amendments aimed at dismantling key autonomous regulators.

Argentina's shale boom puts it on track to compete with Colombia in oil output

Argentina’s surge in shale drilling has positioned the country to overtake Colombia as one of South America’s top three crude producers

Growth in biomethane output could help Brazil cut diesel imports by 2034

Brazil could reduce its diesel imports over the next decade as biomethane production expands, with output potentially reaching 3.3bn cubic metres (cbm) by 2034, according to state energy research firm EPE.

Brazil pushes regulator to boost gas market competition

Brazil's mines and energy ministry is pressing the ANP hydrocarbons regulator to speed up competition in the natural gas market, where the national oil company (NOC) Petrobras maintains dominance despite a 2021 liberalisation law

SLB awarded $800mn Petrobras offshore drilling contract

Energy technology firm Schlumberger (SLB) has won a contract to provide integrated services across all of Brazil’s national oil company (NOC) Petrobras' offshore fields in Brazil, including the construction of more than 100 deepwater wells.

ExxonMobil confirms two Guyanese developments

In Guyana, ExxonMobil has confirmed plans for two additional developments, Hammerhead and Longtail, bringing its total developments in the region to eight by 2030.

LatAmOil: Biden administration has not ruled out revoking Chevron’s licence to operate in Venezuela

Biden administration has not ruled out revoking Chevron’s license to operate in Venezuela

Chevron still may be facing complications in Venezuela, where it is one of the largest foreign drillers and where the presidential election remains contested amidst US sanctions.

Guyana emerges as third-largest per capita oil producer in the world

Guyana has emerged as the world's third-largest per capita oil producer, marking a remarkable transformation just five years after ExxonMobil initiated crude production in December 2019.

Guyanese exports surge by 77% due to oil and gas sector

Guyana's export value surged by an unprecedented 77% in 2024, driven by its booming oil and gas sector, according to the latest trade report from the Economic Commission for Latin America and the Caribbean.

Touchstone Exploration confirms budget for onshore Trinidad operations

Touchstone Exploration Inc. unveiled its preliminary 2025 capital budget, allocating $23mn primarily toward expanding its Cascadura field operations in Trinidad.

Argentina set to pass Colombia as third-largest crude producer in South America

Argentina is poised to surpass Colombia as South America's third-largest crude producer, driven by an unprecedented surge in shale drilling activity in the Vaca Muerta formation.

Guyana submits final written arguments to ICJ for border dispute with Venezuela

Petrobras, Ecopetrol confirm largest-ever gas find in Colombia

Petrobras, through its Colombian branch PIB-COL, and Ecopetrol have confirmed the largest natural gas discovery ever in Colombia, located at the Sirius-2 well.

Pluspetrol ventures into renewables with Uruguayan wind farm acquisition

Pluspetrol has entered Uruguay’s renewable energy market with the acquisition of the Cerro Grande and Peralta I & II wind farms. The assets, previously held by the DIF Infrastructure V and VI funds.

Petrobras signs 43 deals to lower gas prices for distributors

Petrobras will conclude 2024 having agreed to 43 contractual amendments with 13 local natural gas distributors, granting discounts on gas prices.

Petrobras, Ecopetrol unveil massive gas find in Colombia

Petrobras, through its Colombian branch PIB-COL, and Ecopetrol have confirmed the largest natural gas discovery in Colombia, located at the Sirius-2 well.

Chevron and Shell in negotiations to join Argentine infrastructure project

Chevron Corp and Shell Plc are in negotiations to join a major infrastructure project aimed at boosting crude exports from Argentina's Vaca Muerta shale formation, marking a potential breakthrough in foreign investment for the region.

Brazil’s PPSA plans 78mn barrel auction

Brazil's state-run Pre-Sal Petroleo (PPSA) will auction an estimated 78mn barrels of oil on June 25, 2025, according to Samir Awad, the firm's head of finance.

Guyana reports strong interest in upcoming oil block auction

Guyana is gauging significant interest in its upcoming oil block auction, particularly for Block C, a 2.3mn acre deepwater concession near the Surinamese border.

Argentine energy sector to generate $25bn annual surplus by 2030, recent report finds

Argentina's hydrocarbon sector is poised for substantial growth, with the Chamber of Exploration and Production of Hydrocarbons forecasting an annual energy balance surplus of $25bn by 2030, according to a recent sector analysis.

YPF shares surge amid hopeful economic outlook

YPF shares have surged 132% in 2024, climbing from $25.37 to $38.39 since November 1, driven by the government's macroeconomic policies and the company's strategic 4x4 program, according to CEO Horacio Marín.