LatAmOil - Latin America Oil & Gas

Brazil pushes Amazon oil exploration as it joins OPEC+ forum

Brazil intensified its drive for oil expansion this week after it joined OPEC+ while pressing environmental regulators to approve controversial drilling near the Amazon River mouth.

Brazil’s OPEC+ membership sparks environmental concerns

Brazil’s announcement that it would join the crude oil producing cartel OPEC+ has highlighted growing tensions between the country's oil ambitions and environmental commitments as it prepares to host the UN climate summit later this year.

Brazil keeps biodiesel blend at 14% as diesel prices rise

Brazil will maintain the mandatory biodiesel blend in diesel at 14% until further notice, Mines and Energy Minister Alexandre Silveira announced. The decision halts the planned increase to 15% in March.

MODEC launches oil and gas training programme in Guyana

MODEC has launched its inaugural trainee programme in Guyana, selecting eight candidates from over 1,000 applicants across the country.

ExxonMobil reveals output target for Guyana's Hammerhead project

ExxonMobil and its partners have unveiled plans for their seventh development project in Guyana's prolific Stabroek Block, with the Hammerhead project expected to produce up to 180,000 barrels per day of oil and 2.69mn cm/d of natural gas.

Labour action threatens Argentine oil and gas sector

Tecpetrol to conduct gas and oil pipeline infrastructure project in Argentina

Neuquén's construction industry is poised for significant expansion with Tecpetrol's major development in the Los Toldos II area near Rincón de los Sauces.

ExxonMobil identifies fresh gas resources to accelerate Guyana's Gas-to-Energy project

ExxonMobil has announced plans to more than double its gas supply for Guyana's Gas-to-Energy project following the identification of additional associated gas resources in the Stabroek Block.

Colombia's Ecopetrol talks of balanced energy transition

Ecopetrol's Vice President of Refining, Felipe Trujillo, has articulated that Colombia's energy transition strategy involves a balanced approach, integrating both hydrocarbons and renewable energy sources.

Colombia’s Cartagena refinery resumes operations after power failure

The recent power outage at Colombia’s Cartagena refinery, which disrupted refined fuel production on February 14, has been resolved.

Armed pirates raid Pemex platforms, beat workers

Armed attackers robbed two Pemex oil platforms, Ku-H and Zaap Delta, near the Yucatan Peninsula, the Oil Workers Union Section 47 reported on social media on February 16.

Brazil set to join OPEC+ but will opt out from output cuts commitments, says minister

Brazil has approved joining OPEC+, marking the country's emergence as a major oil producer just months before it hosts the UN climate conference.

Suriname oil company Staatsolie announces eight-year bond to fund offshore oil operations

Suriname's national oil company Staatsolie has announced an eight-year bond offering in both US dollars and euros, set to commence on March 23, 2025.

Trinidad and Tobago looking to unlock additional natural gas resources

Trinidad and Tobago (T&T) has unveiled significant exploration targets that could potentially unlock 58.84 trillion cubic feet of natural gas resources, offering a glimmer of hope for the nation's declining gas sector.

Mexico's Sheinbaum unveils new Pemex strategy with private sector profit sharing

Mexican President Claudia Sheinbaum announced plans for PEMEX to share profits with private sector partners whilst revealing a MXN1.85 trillion ($91bn) investment programme for 2024-2030, marking a significant shift from her predecessor's policy.

Mexico moves to cap petrol prices amid station price disparities

Mexico President Claudia Sheinbaum has begun negotiations to cap petrol prices, addressing concerns over filling stations charging up to MXN26-27/L ($1.30). The Federal Consumer Protection Agency (PROFECO) will oversee pricing practices.

Chevron boosts Venezuelan oil exports as US-Venezuela relations improve

Chevron is set to increase Venezuela's oil exports to their highest levels in seven years, following a thaw in relations between the country and the United States

Venezuela and Turkey deepen energy cooperation in high-level talks

Venezuelan Vice President met with Turkish Energy Minister in Istanbul. The two officials agreed to take immediate, concrete actions to strengthen collaboration in key sectors such as oil, natural gas, and mining

Maduro courts Trump as deportations and oil shape US-Venezuela relations

Despite Trump’s past assertions that the US does not need Venezuelan crude, analysts suggest maintaining Venezuelan production on global markets could serve US interests by stabilising energy prices

Colombia imposes temporary taxes on online betting, oil firms and notaries

The Colombian government has introduced temporary taxes on online betting, oil exports and notarial services, effective until December

Pemex crude quality issues linked to overproduction

Production pressures at PEMEX are causing water seepage into crude oil shipments, experts warned on February 12, as the state oil company grapples with quality control issues amid declining output

Brazil fuel prices hit new highs

Petrol and diesel prices have risen again, reaching their highest levels since the start of President Luiz Inácio Lula da Silva’s government

PEMEX plots $977mn petchem push, eyes stable 1.8MMb/d oil output

Colombia introduces temporary tax on fossil fuels amid fiscal challenges

On February 14, Colombia's government announced the implementation of a 1% tax on fossil fuel production, encompassing oil and coal, effective until year-end.

Brazil’s largest FPSO starts oil production

Petrobras has begun production at the Búzios field offshore Brazil with the FPSO Almirante Tamandaré, built by SBM Offshore.