LatAmOil - Latin America Oil & Gas

Colombia's Parex Resources strengthens alliance with Ecopetrol and announces operational updates

Parex Resources has expanded its collaboration with Colombia’s state-owned oil company Ecopetrol, securing agreements for a 50% working interest in four blocks within the Putumayo basin and the Farallones block.

Colombia seeks to speed up offshore gas production amid supply concerns

Colombia aims to accelerate gas production from its largest deepwater discovery as it prepares for a potential natural gas shortfall in the coming years.

Colombia warns of energy subsidy crisis after tax reform collapse

Colombia's Ministry of Mines and Energy has warned of potential disruption to gas and electricity subsidies following the failure of the Financing Law in Congress

Norway’s Kongsberg to deliver hybrid supply vessels for Petrobras offshore operations

Kongsberg Maritime will provide design and technology for six hybrid platform supply vessels to support Brazil’s national oil company (NOC) Petrobras offshore operations after signing a contract with Monaco-based Compagnie Maritime Monegasque (CMM)

Venezuela's gas shortage forces families to rely on firewood

The worsening shortage of domestic gas in Venezuela has pushed many families to rely on firewood for cooking, particularly in Táchira state. Local officials are urging the government to allow residents to purchase gas from neighbouring Colombia.

Offshore oil is "the new shale", says Kpler analyst

Offshore oil production “is the new shale,” set to drive future output gains, says Viktor Katona, head of oil analysis at global trade intelligence firm Kpler.

ExxonMobil seeks to safeguard right of first refusal for Guyana block in Hess Corp. sale to Chevron

ExxonMobil has reinforced its stance on preserving the right of first refusal in Hess Corp's Guyana oil assets, with top executives underlining the company's pivotal role in developing the country's offshore fields.

ExxonMobil Guyana targets Longtail field as its next offshore development

ExxonMobil Guyana has identified the Longtail field as its next development target following the Hammerhead project, according to company President Alistair Routledge.

ExxonMobil seeks rapid oil expansion in Guyana, raising 2030 output target

ExxonMobil is looking to ramp up its expansion plans for its Guyana operations, targeting a production capacity of 1.7mn barrels per day of oil by 2030.

Guyana expected to postpone next oil auction until November 2025 election

Guyana's anticipated second offshore oil block auction will likely be postponed until after the November 2025 general election, according to Vice President Bharrat Jagdeo.

Trinidad’s Atlantic LNG ships first two cargoes since completing restructuring

Trinidad and Tobago’s National Gas Co. (NGC) has exported the company’s first two LNG cargoes from Trains 2 and 3 of its Atlantic LNG terminal since the facility was restructured in December 2023.

CGX Energy and Guyana lock heads over Corentyne Block licence

A dispute has raged between Guyana's government and CGX Energy regarding the status of the company's Corentyne Block licence, with both sides maintaining opposing positions on the license's validity.

Venezuela’s oil output declines amid push for foreign investment

Venezuela’s crude oil production fell to an average of 960,000 barrels per day in November, marking a 2.9% decline from October’s 989,000 b/d, according to the latest report from the OPEC.

Petrobras orders 12 support vessels in $3.3bn fleet modernisation drive

Brazil's national oil company (NOC) Petrobras has awarded contracts worth BRL16.5bn ($3.3bn) to construct and charter 12 Platform Supply Vessels (PSVs), with BRL5.2bn reais allocated for domestic shipbuilding.

Petrobras taps SLB for subsea boosting in Búzios

SLB has announced that its OneSubsea joint venture has secured a contract from Petrobras to supply two subsea raw seawater injection (RWI) systems for the Búzios field.

Fitch raises Brazil's PRIO’s national scale rating to ‘AAA(bra)’

The upgrade reflects the addition of a 40% stake in the Peregrino field, which boosts PRIO's proven reserves by 18% and increases production capacity by 42%.

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.