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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Pemex reaches deal with oil workers union for 4.5% wage hike
Mexican state energy company Pemex announced on October 15 it reached agreement with the influential STPRM oil workers union on a 4.5% salary boost as part of revising the 2025-2027 collective bargaining contract, Reuters reported.
Mexico triples Cuba fuel shipments to $3bn in four months
Mexico dispatched $3bn worth of subsidised hydrocarbons to Cuba between May and August through Pemex subsidiary Gasolinas Bienestar, tripling shipments from the previous administration's final two years
Petrobras brings Tupi back online as Brazil climbs oil ranks
Brazil’s state-run oil company Petrobras has resumed production at its Tupi offshore oilfield, restoring one of its largest pre-salt assets and supporting the country’s growing share in global oil supply.
Brazil’s Ibama presses Petrobras over Amazon oil permit
Brazil’s environmental regulator Ibama has asked Petrobras for further information as part of the licensing process for drilling in the Foz do Amazonas Basin, according to documents reviewed by Reuters.
Petrobras pushes Brazil to back vegetable oil diesel
Brazil’s state-controlled oil company Petrobras is urging the government to require the use of diesel fuel mixed with vegetable oil, chief executive Magda Chambriard said.
Brazil’s COP30 fossil fuel phase-out draws most initiatives
The goal of shifting away from fossil fuels has attracted the highest number of initiatives in the COP30 action agenda, according to its coordinator, Bruna Cerqueira.
Norwegian operator Sea1 bags three-year Brazil deal for platform supply vessel
Norwegian vessel operator Sea1 Offshore, previously trading as Siem Offshore, has landed a new assignment for one of its platform supply vessels (PSVs) in Brazilian waters
Norway’s DOF Group awarded two charters agreements from Brazil’s Petrobras
DOF Group has secured two four-year charter agreements with national oil company (NOC) Petrobras for operations in Brazilian waters
Peru oil output rises as PetroTal battles production setbacks
Peru’s oil sector recorded a strong rebound in September, with national crude output climbing 21.8% year-on-year to 42,400 barrels per day
ExxonMobil Guyana's production hits 770,000 barrels per day after latest project comes online
ExxonMobil's Guyana operations have reached a new production milestone of 770,000 barrels per day following the August startup of its Yellowtail project, the consortium's fourth floating production facility in the prolific Stabroek Block.
Peru seeks investment from Chevron and Saudi Arabia for energy and mining sectors
Peru is actively courting major investments from Saudi Arabia and US oil giant Chevron to revitalise its mining and energy sectors, with Energy and Mines Minister Jorge Luis Montero outlining plans to turn the country into a strategic resource hub.
US appeals court upholds Helmerich & Payne win against Venezuela
The US Court of Appeals for the District of Columbia upheld a lower court ruling that dismissed claims by state-owned Petróleos de Venezuela, S.A. (PDVSA), determining the expropriation violated international law
Sintana Energy to acquire Challenger, expanding offshore exploration in Uruguay
Under the terms, Challenger shareholders will receive about 25% of Sintana’s issued share capital upon completion, which is expected by the end of Q4 2025
Russia overtakes US as Venezuela’s naphtha supplier
Shipments from the US to Venezuela fell to zero between March and October, while Russian exports surpassed 7mn barrels over the same period, according to Kpler data—marking the first substantial deliveries from Moscow in nearly six years
Gold Reserve seeks to disqualify US judge and advisers in Citgo auction
The Toronto-listed company alleges conflicts of interest and is demanding the process be halted until its concerns are addressed, according to filings reported by Reuters
Colombia's Ecopetrol board chair de Greiff quits over Petro's Monómeros, Venezuela plans
Mónica de Greiff resigned from Ecopetrol's board of directors during an October 14 meeting, citing strategic disagreements with President Gustavo Petro's proposals regarding Venezuelan petrochemical firm Monómeros.
Argentina's Tecpetrol plans $725mn oil expansion at Colombia's CPO-13 block
Argentine oil producer Tecpetrol submitted plans to expand crude production at Colombia's onshore CPO-13 block through a COP2.81 trillion ($725mn) development project.
Mexico's Pemex accelerates plan to reactivate 400 closed wells with private partners
Pemex will extend a hand to the private sector to revive its crude and natural gas production. Through service contracts with companies, the oil firm seeks to reactivate its well recovery programme
Argentina's YPF and Italy's Eni signed LNG export deal
Argentina's state oil company YPF and Italy's Eni have signed a final engineering agreement for LNG exports from the Vaca Muerta formation.
ExxonMobil Guyana begins drilling at crucial Whiptail project drill centre
ExxonMobil Guyana Limited has commenced developmental drilling at the Whiptail Project's WT_3P01 Drill Center in the Stabroek Block.
Trinidad and Tobago receives US approval to revive critical Dragon Gas field
The United States has granted Trinidad and Tobago authorisation to reactivate the cross-border Dragon and Manakin-Cocuina gas fields with Venezuela, reversing its April decision to revoke licenses for the Shell-operated projects.
Colombian industrialists brace for 50% natural gas price surge in 2026
Colombian manufacturers anticipate natural gas costs will surge 50% in 2026, according to the National Business Association's latest industrial survey.
Brazil sees path to double biofuels with no deforestation
Brazil could double its biofuel output and use by 2050 without increasing deforestation by converting degraded land for crops, according to a study by the Institute of Energy and Environment (Iema) and the Climate Observatory.
BW Energy bets big on Brazil’s offshore revival
BW Energy has renamed the former Polvo floating production, storage and offloading vessel (FPSO) as BW Maromba, advancing its plan to develop the Maromba oil field offshore Brazil.
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