LatAmOil - Latin America Oil & Gas

Venezuela boosts oil production to 928,000 bpd amid sanctions, says OPEC

According to the latest OPEC report, Venezuela's oil production reached 928,000 barrels per day, marking a rise of 6,000 bpd in July.

Argentina's YPF to modernise Ensenada gas refinery

YPF is working to modernise the Ensenada Refinery within the Ingeniero Enrique Mosconi Industrial Complex by inaugurating new plants.

Burford Capital advances efforts to secure $16bn court ruling against Argentina's YPF

Burford Capital announced that it is leveraging remarks made by a provincial governor in Argentina to strengthen its efforts to secure a $16bn U.S. court judgment against the Argentine government, which it claims controls national oil company YPF SA.

YPF pushes forward with Vaca Muerta pipeline with Energy Transfer to boost shale exports

Horacio Marín, president of YPF, is confident that the Vaca Muerta Sur pipeline is set to be Argentina’s first RIGI energy project.

Brazil’s Braskem considers petrochemicals production cuts and unit closures

Brazilian petrochemical company Braskem is contemplating potential production cuts or even closing some production capacity in Brazil.

Staatsolie to inject $1.8bn into Suriname's first offshore project

Suriname's national oil company Staatsolie is preparing to invest $1.8bn into the nation's first offshore oil project, according to the company's 2023 annual report.

Citgo protection extended as court-ordered auction looms

The US Treasury Department has prolonged its shield over Citgo Petroleum from creditors until November 12. This extension comes as the court-mandated auction of shares in the Houston-based refiner's parent company nears its final stages.

Natural gas exports plummet as Bolivia seeks to boost production

In the first half of 2024, Bolivia's natural gas exports experienced a significant downturn, with values falling by 18.1% compared to the same period in 2023.

Bolivia’s fuel crisis deepens as smuggling and import dependency plague the economy

Bolivia faces an economic challenge as a natural gas exporter that imports 71% of its hydrocarbon needs. This situation has led to considerable public spending on fuel subsidies, with the government allocating $2bn to subsidise petrol and diesel.

Brazil's environmental civil servants agree to end strike affecting oil permits

Argentina's YPF output surges in second quarter, PCR buys some YPF assets

YPF, Argentina’s national oil company, reported a solid performance during the second quarter of the year, with total hydrocarbon production averaging 539,000 barrels of oil equivalent per day.

Halliburton to expand Suriname operations

Halliburton is set to broaden its operations in Suriname. In a meeting with President Chandrikapersad Santokhi, Halliburton CEO Jeffrey Miller conveyed his intent to boost the company’s investments in the country.

Industry-first technology in US Gulf of Mexico may open ultra-high pressure offshore fields

First oil and gas are now being produced from a field in the US Gulf of Mexico so deep that the equipment must withstand record ultra-high pressures.

Petrobras' post-loss investment play

Petrobras reported a BRL2.6bn ($473mn) loss in Q2 2024, its first negative result in nearly four years, raising concerns about the state-owned company’s future financial stability.

Mexico's oil sector overhaul seeks private partnerships

Mexico's incoming government is poised to revolutionise the country's oil sector by encouraging state-owned Pemex to forge equity partnerships with private oil companies.

New Fortress Energy faces market backlash

New Fortress Energy (NFE) faced a harsh market reaction on August 9 as its shares tumbled 25% on the Nasdaq.

Ecuador oil workers accuse government of pushing privatisation agenda

Ecuador's National Association of Energy and Oil Workers (Antep) on August 12 accused the government of running a campaign to discredit state oil production, alleging it aims to privatise active hydrocarbon fields managed by public firm Petroecuador.

Reliance resumes Venezuelan oil imports with naphtha swap deal

Reliance Industries Ltd is set to restart oil imports from Venezuela through a deal involving naphtha swaps, according to sources. This arrangement follows a recent US authorisation allowing the Indian conglomerate to resume trade with Caracas.

PetroPerú's oil lots to be tendered in 2025

Petro-Perú’s role as an oil lot operator is nearing its end, with the international tender for Lots I and VI (Talara) scheduled for February 17, 2025.

Petrobras secures key licences to expand offshore oil production

Brazil's national oil company Petrobras has obtained crucial environmental licences to boost production in two of its major offshore fields, Mero and Buzios, according to sources familiar with the matter.

Halliburton secures major offshore contract with Petrobras in Brazil

Halliburton has been awarded a multi-year contract by Brazil’s national oil company Petrobras to provide comprehensive services for integrated well interventions and plug and abandonment operations on offshore wells.

Petrobras posts in Q2 first loss since 2020

Brazil’s national oil company Petrobras has announced a net loss of BRL2.6bn ($470mn) for the second quarter of 2024, marking its first quarterly loss since the third quarter of 2020.

Petrobras aims to revitalise operations and expand scope

Brazil's national oil company Petrobras is seeking to redefine and broaden its areas of activity, despite reporting its first loss since 2020 and revising down this year's investments.

FPSO Maria Quitéria reaches Brazil destined for Petrobras’ Jubarte field operations

The Maria Quitéria platform vessel has reached Brazil, bound for the Jubarte field in the Parque das Baleias complex of the Campos Basin operated by the national oil company Petrobras.

Venezuela wants to offer its oil reserves to the BRICS

Venezuelan Deputy Ambassador to the UN, Joaquín Pérez Ayestarán, has expressed optimism about Venezuela's potential inclusion in the BRICS group.