LatAmOil - Latin America Oil & Gas

Brazil's Petro-Victory to buy 13 oil fields in $15mn deal

Canadian-listed Petro-Victory Energy Corp said on February 10 it would acquire stakes in 13 oil fields in Brazil's Potiguar Basin for $15mn, partnering with Azevedo & Travassos Petroleo.

Trump's ambition to boost oil and gas industry a threat to Guyana, president claims

Guyana's President, Dr Mohamed Irfaan Ali, has prioritised economic diversification amid looming global economic challenges, particularly those stemming from potential US policy shifts in oil and gas exploration.

Europe accounts for 75% of Guyana's crude exports in January

Guyana's crude oil exports in January predominantly flowed to European markets, with 15 out of 20 shipments heading to the continent as per data provided by LSEG.

CFE to pump $2bn into PEMEX refinery power plants

Brazil’s Petrobras makes first renewable VLSFO sale in Asia

Petrobras has completed its first sale of very low sulphur fuel oil (VLSFO) with 24% renewable content (B24) in the Asian bunker market.

Oil-rich Venezuela begins deportee flights from US hoping to see sanctions eased

The Venezuelan government has launched state-operated flights to repatriate citizens deported from the United States, ushering in a new era in relations between the two nations.

Panama Canal traffic dips 10% below pre-pandemic levels despite drought recovery

Panama Canal vessel transit capacity remained 10% below pre-pandemic levels between September 2024 and January 2025 compared to 2019-2022 averages, shipping association BIMCO reported on February 9.

TotalEnergies, QatarEnergy and Petronas engage in talks over Guyana's Block S4

TotalEnergies, QatarEnergy and Petronas are poised to expand their presence in Guyana's offshore oil sector, with Natural Resources Minister Vickram Bharrat confirming advanced talks with the consortium that won Block S4.

Guyanese government confirms start date for landmark gas-to-energy project

Guyana's transformative gas-to-energy project is set to begin operations on November 1, according to Prime Minister Mark Phillips, who confirmed the start date for the 300MW power plant during a recent parliamentary session

TGS and TGN plan large-scale gas transportation investments in Argentina

Argentina's major gas transportation companies have announced investment plans out to 2029, with Transportadora de Gas del Sur committing $32mn and Transportadora de Gas del Norte pledging approximately $7.5mn annually.

Brazil to discuss potential OPEC+ membership

Brazil’s National Energy Policy Council will meet on 18 February to discuss the country’s possible entry into OPEC+, the group of oil-producing nations outside the Organisation of the Petroleum Exporting Countries.

Brazil’s Lula signals support for Amazon oil exploration

Amos partners with Sinopec to acquire its oil and gas assets in Venezuela

Houston-based Amos Global Energy Management LLC has secured a Sale and Purchase Agreement with Sinopec to acquire its oil and gas assets in the Gulf of Paria, offshore Venezuela

Sete Brasil sues Petrobras for $6.25bn over broken contracts

Colombia's Ecopetrol acquires full control of CPO-09 block in Llanos Orientales basin

Colombia's state-controlled oil company, Ecopetrol, has finalised the acquisition of the remaining 45% interest in Block CPO-09 from Spain's Repsol for $452mn.

Colombia's Ecopetrol faces potential $400mn penalty if it exits US fracking operations

Ecopetrol could face a penalty of between $300mn and $400mn if it moves forward with President Gustavo Petro’s call to exit its fracking operations in the US.

Calgary-based Arrow Exploration updates on AB wells in Colombia

Arrow Exploration has provided an operational update on its activities at the Alberta Llanos field within the Tapir Block in Colombia, where it holds a 50% stake.

Mexico's Pemex to select oil areas and partners under new law

Chevron under pressure as it engages Trump administration on Venezuela operations

Chevron Corp. is engaging with the Trump administration as pressure mounts from Republican lawmakers to revoke its licence to operate in Venezuela

Mexico to halt oil exports once Dos Bocas reaches full capacity

Venezuelan foreign minister brands US Secretary Rubio "obsessed" over leftist regimes

Venezuela lashed out at US Secretary of State Marco Rubio, branding him a “pathetic obsessed man” after he labelled Cuba, Nicaragua, and Venezuela as “enemies of humanity” and blamed them for the ongoing migration crisis in the region.

Suriname-Guyana basin expected to play critical role in South American oil exploration, report indicates

Global exploration drilling activity is expected to maintain a steady pace in 2025, with 65-75 high-impact wells targeted for completion globally, according to Westwood Energy's latest explorations insights report.

Maduro claims opposition-controlled Citgo withheld $5bn in profits

Venezuela's Nicolás Maduro has accused opposition figures of withholding more than $5bn in profits from Citgo, the US-based subsidiary of state oil giant PDVSA

Petro’s Columbian government crisis to have further impact on oil and gas

The Colombian government of President Gustavo Petro is facing one of its deepest crises, including following a recent chaotic televised cabinet meeting that exposed internal fractures and led to key resignations within the country’s executive.

Mexico's Pemex eyes Asia oil crude sales to dodge Trump tariffs, Mexico exports could be hit

Mexico's state oil company Pemex could avoid new – but delayed – US tariffs by redirecting crude exports to Asia, as US President Donald Trump's 25% levy on Mexican imports threatens its primary export market.