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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Citgo auction sparks fierce battle among creditors, as legal and financial stakes escalate

2 December 2024

The impending auction of Citgo Petroleum Corporation's parent company has escalated into a complex financial battleground, with multiple creditors manoeuvring to secure the prized Venezuelan asset.

Canacol Energy updates Colombia drilling progress, highlights new production rates

2 December 2024

Canacol Energy is presenting upgrades on its exploration and development drilling activities in Colombia, the company stated in a release

Geopark to acquire Repsol’s Colombian oil assets in $530mn deal

2 December 2024

Geopark, a Latin America-focused energy firm, has reached binding agreements with Spain's Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire their oil and gas assets in Colombia, the company reported.

ExxonMobil, Hess, CNOOC still interested in Guyana's Block S8, vice president confirms

2 December 2024

Guyana's ExxonMobil consortium has reaffirmed its interest in shallow water Block S8, according to Vice President Dr Bharrat Jagdeo, marking a reversal from earlier reports suggesting the company had withdrawn from negotiations.

Guyana gains preliminary loan approxal from EXIM Bank for gas-to-energy project

2 December 2024

Guyana's Gas-to-Energy project has secured preliminary approval for a loan exceeding $500mn from the United States Export-Import Bank, Vice President Bharrat Jagdeo announced in a recent press conference.

Vaca Muerta hits record oil production in third quarter of 2024

2 December 2024

Oil production from Argentina's Vaca Muerta shale formation reached a record 400,000 barrels per day in Q3 2024, marking a 35% y/y increase, according to consultancy Rystad Energy.

Argentina advances $700mn gas pipeline expansion

2 December 2024

Argentina's government is advancing plans to expand the Perito Francisco Pascacio Moreno Gas Pipeline through a $700mn project presented by Transportadora de Gas del Sur (TGS), a company controlled by Pampa Energía and the Sielecki family.

Venezuela restores key gas facility amid sabotage allegations

1 December 2024

Venezuela has restored operations at the Muscar gas pipeline in Monagas State, following what officials have described as a deliberate act of sabotage that caused significant damage to critical energy infrastructure.

Citgo sale faces overhaul amid complex legal struggles and creditor discontent

1 December 2024

The protracted legal battle surrounding Citgo Petroleum's parent company shares has reached a critical juncture, with court-appointed advisers recommending a comprehensive auction overhaul after a year-long process plagued by mounting complexities

PDVSA announces full recovery of Muscar complex after gas pipeline explosion

1 December 2024

Venezuela's state-owned oil company, Petróleos de Venezuela (PDVSA), has confirmed the full recovery of the Muscar Industrial Complex in Monagas state, which was severely damaged in a fire on November 11.

Petrobras focuses on ready-to-run ethanol projects

1 December 2024

Petrobras will focus its initial ethanol investments on operational assets through partnerships with established producers, limiting its stake to 50%, according to the company’s Energy Transition Director, Mauricio Tolmasquim.

Arrow Exploration reports record Q3 2024 results, announces plans for 2025 growth in Colombia

29 November 2024

Arrow Exploration, a hydrocarbon operator with assets in key Colombian basins, has reported its Q3 2024 interim results and provided updates on its operations.

YPF CEO claims infrastructure issues stand in the way of Argentine energy export boom

28 November 2024

Argentina's energy sector holds immense export potential but faces crucial infrastructure hurdles, according to YPF CEO and President Horacio Marín during his address at the 30th Industrial Conference of the UIA.

Trump’s tariff plans could reshape global oil markets

28 November 2024

The prospect of 25% tariffs on crude imports from Canada and Mexico, as proposed by US President-elect Donald Trump, could lead to significant shifts in global oil flows.

YPFB approves Argentine gas exports to Brazil through its pipeline

28 November 2024

Argentina secured a significant advance in its regional energy strategy as Bolivia's YPFB agreed to allow Vaca Muerta gas transit through its pipeline system to Brazil.

Brazil, Argentina companies sign deal with Bolivia's YPFB to pipe Vaca Muerta gas

28 November 2024

Grupo Matrix Energia from Brazil and TotalEnergies' Argentine division have finalised their first agreement with Bolivia’s state-owned YPFB to transport gas from Argentina's vast Vaca Muerta shale formation.

Brazil’s Brava Energia awards $200mn offshore equipment contracts

28 November 2024

Brava Energia has awarded contracts worth approximately $200mn for its integrated campaign in Atlanta and Papa-Terra fields off Brazil, with a potential expansion to develop Malombe via a connection to Peroa

Mexico orchestrates financial lifeline for Pemex amid mounting supplier debt

28 November 2024

Mexico's finance ministry is preparing to mobilise a banking consortium to address Pemex's substantial supplier debt.

Mexico braces for oil market volatility in 2025 fiscal strategy

27 November 2024

Mexico's Finance Minister Rogelio Ramírez de la O has unveiled a cautiously calibrated fiscal approach for 2025, anticipating potential turbulence in global oil markets amid geopolitical uncertainties and impending political transitions.

Mexico scrambles to save Pemex amid debt and climate challenges

27 November 2024

Mexico’s national oil company, Pemex, faces mounting debt and declining crude production, highlighting the significant challenges the country confronts in balancing energy needs with environmental commitments.

Guyana to invest additional $121 million into landmark Gas-to-Energy project

27 November 2024

Guyana's government has sought additional funding of GYD 25.3bn ($121mn) from Parliament for its Gas-to-Energy project, according to documents filed by Senior Minister Dr Ashni Singh.

Guyana Natural Resource Fund hits $3.1 billion from oil revenues

27 November 2024

Guyana's Natural Resource Fund balance reached $3.1bn by October 2024, Senior Minister of Finance Dr Ashni Singh confirmed.

Suriname to distribute oil and gas wealth to citizens

27 November 2024

Suriname has unveiled plans for a “Royalties for Everyone” program to distribute wealth from its anticipated oil and gas revenues, President Chan Santokhi announced.

Colombia's oil and gas production hits multi-year lows in September

27 November 2024

Colombia’s oil production fell to its lowest level in two years during September, reaching 750,572 barrels per day (bpd), according to the National Hydrocarbons Agency (ANH). This marks a 2.6% decline compared to September 2023.

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