LatAmOil - Latin America Oil & Gas

Fitch affirms Gran Tierra Energy at 'B+' with stable outlook

Fitch affirms Gran Tierra Energy's 'B+' rating with stable outlook, citing improved geographic diversification and expected deleveraging, as the Colombia-focused oil producer targets flat output of 45,000 boe/d through 2029.

Brazil extends fuel subsidies as diesel eases for sixth week but remains above pre-war levels

Lula da Silva signed a decree on establishing a $0.08 per litre gasoline subsidy as his government upped its intervention in fuel markets after the war-related price shock pushed diesel to record highs and threatened to breach the inflation target.

Brazil emerges as fourth largest oil supplier to India as Middle East conflict reshapes trade flows

Brazil rose to become India's fourth largest crude oil supplier in April as Indian refineries scrambled to replace Middle Eastern barrels disrupted by the US-Israeli war against Iran and the Strait of Hormuz closure.

Trinidad deepwater block draws Occidental as ExxonMobil shares stake near Stabroek basin

Guyana emerges as regional investment safe haven as Venezuela debt restructuring drags

Mexico fuel price caps squeeze Pemex supply, create rolling shortages across country

Investors call on Mexico's Pemex to tap global bond markets for first time in three years

Slim calls Lakach gas project 'irrational', says Pemex's low output is Mexico's biggest problem

Mexico's Pemex escapes Moody's downgrade but $80bn debt pile keeps it from cashing in on oil boom

LNG Energy signs deal for $200mn Venezuela oil venture

The companies plan to establish a new US-based joint venture company focused on existing and future Venezuelan energy blocks

US removes sanctions on two tankers tied to Venezuelan oil trade

The Treasury Department’s Office of Foreign Assets Control said the tankers Despina Andrianna and Magus had been removed from sanctions lists after an interagency review covering dozens of entities considered outdated

Chevron sees Venezuela output reaching 250,000 bpd within two years

The company projected a further 50% increase in production by the end of 2028 if authorities provide stronger legal guarantees and maintain favourable investment conditions

Rodríguez says more oil companies are preparing to enter Venezuela

The interim leader said new hydrocarbon companies will begin arriving in the country “in the coming weeks” as her government intensifies efforts to attract foreign and private investment following a rapprochement with the United States

GMO investor’s Venezuela bet delivers windfall after bond rally

When most investors abandoned Venezuela after its 2017 default, Tina Vandersteel moved in the opposite direction, steadily accumulating distressed bonds that many funds had already written off as worthless

Exxon and ConocoPhillips push for stronger guarantees in Venezuela return talks

The negotiations have gathered momentum alongside the Trump administration’s effort to revive Venezuela’s oil industry after Nicolás Maduro’s ouster

Tango Energy completes takeover of Aconcagua Energía after restructuring process

Tango Energy has completed the acquisition and integration of Argentine oil producer Aconcagua Energía, marking the final exit of the company’s founding partners and concluding a restructuring process.

Neuquén monitors methane emissions at 124 inactive oil and gas wells

Authorities in Argentina’s Neuquén province have carried out a methane emissions monitoring campaign at 124 inactive and abandoned oil and gas wells as part of efforts to assess environmental and safety risks linked to hydrocarbon operations.

Mexico's private fuel import market opens up as more firms win permits

Fitch upgrades YPF ratings to ‘B-’ after Argentina sovereign upgrade

YPF received an upgrade to its long-term foreign and local currency issuer default ratings to ‘B-’ from ‘CCC+’ by Fitch Ratings, following the agency’s recent upgrade of Argentina’s sovereign credit rating.

Arrow Exploration posts stronger Q1 results after Colombia output rises

Arrow Exploration reported higher first-quarter revenue and earnings after increased production from its Colombian assets boosted cash flow and operating margins, the company said in its interim results statement.

Mexico's Pemex crude output edges up 1.4% y/y in April as Olmeca refinery slumps to 43% capacity

Venezuela debt restructuring could support oil sector recovery but faces major hurdles

Guyana's oil fund tops $4bn for first time amid Middle East conflict

Guyana's Natural Resource Fund surpassed $4bn for the first time.

BW Energy targets 100,000 boepd growth after Brazil, Gabon investments

BW Energy Limited will start a new infill drilling campaign at the Golfinho licence off Brazil, which with a FID on the Bourdon offshore development in Gabon will allow it to target production growth above 100,000 boepd.

ExxonMobil nears Venezuela return in major shift, ConocoPhillips still wary

Exxon Mobil is in talks to re-enter Venezuela nearly two decades after abandoning the country following the nationalisations carried out under former President Hugo Chávez, but ConocoPhillips remains unsure of entry to Venezuela's oil sector.