LatAmOil - Latin America Oil & Gas

Brazil's Petrobras cuts gas prices 7.8%, sees long-term potential in Venezuela exploitation

Brazil's state-owned oil company Petrobras has announced a 7.8% reduction in natural gas prices for distributors while a senior executive said the company sees exploration potential in Venezuela despite saying it is not the right time.

Venezuela's interim leader liberalises economy but critics warn of 'dictatorship without Maduro'

Venezuela's interim president Delcy Rodríguez is rapidly liberalising the economy while maintaining strict political control, prompting warnings from analysts and former US officials that Washington may be willing to accept authoritarian rule.

Cuba tourism slumps as sanctions and fuel risks weigh on economy

Trinidad and Tobago's Atlantic LNG to remove one liquefaction train later this year

Trinidad and Tobago’s Atlantic LNG facility will commence removing one liquefaction train from operations in the fourth quarter.

Ecuador raises fees on Colombian oil transit as trade dispute escalates

Ecuador has increased the tariff for transporting Colombian crude through its main state-owned pipeline from $3 to $30 per barrel, in a move linked to escalating trade and energy tensions with Bogotá

Brazil's ANP grants Mandacaru 60-day extension to start production at Sergipe gas field

Brazil's oil and gas regulator ANP approved a 60-day extension for Mandacaru Energia to begin production at the Dó-Ré-Mi natural gas field in the Sergipe Basin.

Brazil’s Raízen seeks up to $1.5bn capital raise but funding sources unclear

Brazilian biofuels and energy company Raízen is estimated to seek a capital increase of between $1bn and $1.5bn as part of its restructuring efforts, but the sources of funding remain uncertain.

Venezuela courts oil majors as parliament weighs hydrocarbons law rewrite

Venezuela’s interim president Delcy Rodríguez met with executives from oil companies including Repsol, Chevron and Shell

US weighs broad sanctions licence to accelerate Venezuela oil revival

The move is intended to streamline approvals after a flood of licence requests from companies seeking to operate alongside state-owned PDVSA.

Venezuela oil law revamp falls short of capital needed for sector overhaul

Venezuela’s proposed overhaul of its hydrocarbons law is designed to ease the expansion of companies already operating in the country and draw in fresh investors

Venezuela banks resume FX interventions with backing of private sector after oil cash inflows from US trade

Venezuela’s banking sector has restarted foreign-exchange interventions after more than a month on hold, following the arrival of fresh hard-currency inflows linked to renewed oil trade with the US.

Brazil's regulator approves 17 blocks for production-sharing auction, excludes Mahogany

Brazil's oil and gas regulator ANP approved the inclusion of 17 exploratory blocks in a new version of its Permanent Sharing Offer tender, bringing the total draft to 25 blocks.

Brazil's regulator okays Petrobras deepwater plan for Sergipe, extends contracts to 2057

Brazil's oil and gas regulator approved state-owned oil company Petrobras' development plan for deepwater fields in Sergipe and exceptionally extended concession contracts for the areas before production begins, guaranteeing three decades of output.

Peru appoints Deloitte to restructure Petroperú amid $5bn debt and Talara refinery scrutiny

Peru’s government has appointed Deloitte to lead a restructuring of state-owned oil company Petroperú.

Argentina inks major LNG export agreement to position Río Negro as energy hub

Argentina's Río Negro province has signed an agreement with state-owned YPF SA and Argentina LNG SAU to develop a massive liquefied natural gas export project that aims to make the country one of the world's top ten LNG exporters.

Bolivia’s gas revenues slump 42% as YPFB downturn deepens fiscal strain

Bolivia’s deepening energy downturn is accelerating pressure on public finances, after state energy company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) reported a sharp collapse in hydrocarbon revenues.

White House weighs technocratic council as Venezuela fallback plan

The White House is quietly developing contingency plans for Venezuela that prioritise preventing state collapse over democratic outcomes, exploring the possible installation of a technocratic emergency council should the Rodriguez government falter.

Brazil’s Embraer eyes Argentina crops for ethanol

Embraer has signed an agreement with an Argentine ethanol producer to assess the introduction of its Ipanema crop-spraying aircraft in Argentina, marking its first move to take the agricultural aviation business outside Brazil.

YPF and Pluspetrol conduct asset swap in push for Argentine LNG exports

YPF and Pluspetrol have executed an asset swap agreement that consolidates both companies' positions in Vaca Muerta whilst strategically realigning holdings to advance Argentina's LNG export ambitions.

Shell mulls exit from Argentina's Vaca Muerta shale formation

Shell is exploring the sale of its Vaca Muerta assets just as international interest in the Argentine shale formation intensifies.

Cuba turns to African fuel shipments as Venezuelan oil supplies fade

Cuba has begun sourcing fuel from Africa as traditional oil supplies from Venezuela decline sharply, deepening pressure on the island’s power system, according to satellite-tracking data

Baker Hughes sees Venezuela upside but ties expansion to legal clarity

Baker Hughes said Venezuela could become a meaningful source of revenue, though any scale-up would hinge on firm guarantees around security, workforce protection and a clearly defined legal and regulatory environment

Former presidential candidate warns Venezuela reset may stop at oil deal

Henrique Capriles Radonski has re-emerged as a key voice in Venezuelan politics after taking a seat in the new National Assembly following the removal of Nicolás Maduro

Delcy Rodríguez backs hydrocarbons law reform to drive growth for Venezuela

Venezuela’s proposed reform of its Organic Hydrocarbons Law will underpin economic growth while safeguarding state ownership of the country’s energy resources, acting president Delcy Rodríguez said

SLB signals Venezuela expansion as clients eye return

SLB is preparing to scale up activity in Venezuela and is fielding approaches from customers weighing a return to the country, according to comments from Chief Executive Officer Olivier Le Peuch