LatAmOil - Latin America Oil & Gas

Platforms get second life in Brazil’s Petrobras shift

Petrobras has opened a tender to refurbish and reuse the topside units of its decommissioned P-35 and P-37 platforms in the Campos Basin, the company said.

Petrobras, Shell acquire Brazil pre-salt stakes for $1.6bn as Tupi receives no bids

A consortium formed by Brazil’s state-owned oil major Petrobras and Shell won two of three areas offered in an unprecedented auction of the Brazilian government's stake in producing pre-salt blocks, raising BRL8.8bn ($1.6bn) for the Treasury.

Brazil debuts fully domestic SAF supply

Brazil’s state-controlled oil producer Petrobras has started commercial supply of sustainable aviation fuel fully produced in the country.

Colombia's Ecopetrol steps up exploration in hunt for new gas

Colombian state energy company Ecopetrol secured regulatory approval to drill two natural gas exploration wells in the prolific Llanos Foothills basin as the nation confronts a projected 560mn cubic feet per day supply gap by 2030

Ghana's Cybele Energy pens exploration deal in Guyana

Guyana's offshore oil sector is expanding its international appeal, with Ghana-based Cybele Energy Limited set to sign a petroleum agreement on December 9 for shallow-water Block S7.

Trump’s new Monroe Doctrine push puts Venezuela’s oil future at centre of market risks

Wood Mackenzie analysts said Venezuelan output could recover relatively quickly if operational support and financing improved

US pressure on Maduro revives trading frenzy in Venezuela’s defaulted PDVSA bonds

Escalating US pressure on Nicolás Maduro’s government has reignited investor attention on Venezuela’s long-defaulted sovereign and oil company debt

US threat spurs potential Venezuela supply shock, lifting heavy crude prices

A potential US military intervention in Venezuela could materially lift global oil benchmarks by removing a significant source of heavy crude from the market, according to analysis from Rystad Energy

YPF to make FID on Argentina's first major LNG project by mid-2026

Argentina's national oil company YPF expects to reach a final investment decision on its $20bn Argentina LNG project by mid-2026, potentially positioning the country as a major force in global gas markets.

Chile's ENAP inks deal to receive Argentine shale oil through 2033

Chile's national oil company, ENAP, has secured an eight-year supply agreement with Argentine counterpart YPF and partners Shell, Equinor, and Vista for Vaca Muerta shale oil exports.

New Fortress Energy and Puerto Rico finalise seven-year LNG deal

US LNG developer New Fortress Energy has received final approval from Puerto Rico authorities to conclude a seven-year LNG supply deal.

Mexico’s Pemex still struggles to maintain oil output amidst structural, operational pressures

Pemex's crude output has continued to struggle throughout 2025, marking the lowest annual production levels since 2018 and highlighting structural and operational pressures facing Mexico's state-owned oil company.

Vitol to supply Colombia’s new LNG import terminal

Energy and commodity trader Vitol is expected to supply Colombia’s new LNG import terminal on its northern Caribbean coast.

YPF expects FID for Argentina LNG by mid-2026

Argentina LNG could be a gamechanger for the South American country providing it with sustained dollar revenues and shift it to an LNG exporter from an importer.

Brazil pushback hits mega-merger

Brazil’s main oil operators have pressed antitrust authority Cade to take a harder line on the planned merger between Subsea7 and Saipem, according to industry submissions.

Venezuelan oil shipments edge higher despite operational strains and US pressure

Venezuela lifted crude and fuel exports to roughly 921,000 barrels per day (bpd) in November 2025

Brazil’s Petrobras moves on major refinery expansion

Canada's Canacol seeks creditor-protection in Colombia as restructuring advances

Canacol Energy’s court-appointed monitor requested the Colombian Superintendencia de Sociedades to recognise the company’s Canadian restructuring process under the Companies’ Creditors Arrangement Act

Brazil oil output breaks new record

Brazil’s oil and gas output reached a new peak in October, totalling 5.255mn barrels of oil equivalent per day, according to official data.

Mounting debts and leadership shifts at Petroperú heighten risks for Peru’s oil producers

Peru’s hydrocarbons industry is entering a phase of acute operational and institutional fragility as simultaneous financial pressures on Petroperú and persistent governance instability across sectoral bodies intersect.

British AVEVA eyes expansion into Argentine mining and energy sectors

British industrial software multinational AVEVA is positioning for significant expansion in Argentina, targeting the investment surge generated by the Vaca Muerta shale formation.

Colombia's Ecopetrol to boost Colombia natural-gas supply by 37% from December

Colombian state energy firm Ecopetrol announced it will increase its natural-gas supply for residential and commercial customers by 37% compared with 2025 volumes, by injecting 182 Gbtud into the national grid from December 2025

Colombia lacks measurable fossil fuel phase-out targets, report finds

Colombia's latest nationally determined contributions lack concrete, measurable targets for eliminating fossil fuels despite the country's vocal international advocacy for phasing out coal, oil and gas

Açu banks on Brazil decommissioning demand

Brazil’s Porto do Açu expects steady demand for oil platform decommissioning services despite changes in Petrobras’ capital allocation for the activity.

Brazil’s Petrobras to retire 5 Sergipe fields

Ibama has approved the dismantling of five shallow-water fields in the Sergipe Basin operated by Petrobras. The company had signalled in 2020 that exploration in these areas would cease.