LatAmOil - Latin America Oil & Gas

Transocean adds $1bn to backlog with Petrobras extensions, Norway contract

Transocean has announced contracts and extensions worth approximately $1bn in combined backlog, led by two drilling rig extensions with state-owned oil company Petrobras in Brazil and a new contract in Norway.

Brazil’s Petrobras fires commercialisation director over rogue LPG auction as cabinet tightens grip on fuel policy

Petrobras has dismissed its executive director of logistics, commercialisation and markets, Claudio Schlosser, amid the fuel price crisis after an auction of LPG last week produced prices well above Petrobras’ own reference prices.

Brazil's Petrobras delivers LPG at high auction prices despite Lula move to annul sale, say sources

etrobras has delivered liquefied petroleum gas (LPG) auctioned off at steep premiums to distributors even after President Lula said the government would annul the tender to protect consumers from fuel price spikes.

Brazil scraps aviation fuel taxes, subsidises diesel and cooking gas on crude price spike

Brazil's government has eliminated federal taxes on aviation kerosene as part of a sweeping package in an effort to contain the economic fallout from the US-Israeli war with Iran which has pushed oil prices up sharply.

Argentina gas exports to Chile briefly halted over quality issues at Vaca Muerta supply

Reliance begins direct purchases of Venezuelan crude

A unit of India’s Reliance Industries has started loading a 2mn-barrel cargo of Venezuelan heavy crude purchased directly from state-run PDVSA.

Colombia reverses fuel price cuts as global oil costs widen budget deficit

Colombia raised domestic fuel prices from April 1 as climbing international oil costs inflated the subsidy burden on an already strained public balance sheet, reversing two consecutive monthly reductions that had briefly eased inflation pressures

Russia dispatches second oil tanker to Cuba amid US fuel embargo

Russia plans to send a second oil tanker to Cuba following the delivery of hundreds of metric tonnes at Matanzas port earlier this week, Russian Energy Minister Sergei Tsivilev stated, as the Caribbean island confronts deepening energy shortages

Mexico’s Amigo LNG inks 20-year offtake deal with UAE’s IRH

Mexico’s Amigo LNG, the flagship project of LNG Alliance, ha signed a 20-year Sales and Purchase Agreement (SPA) with Abu Dhabi-based International Resources Holding (IRH),

OPEC+ sets symbolic quota rise as Hormuz closure bites

OPEC+ has agreed a modest increase in oil production quotas from May, a move that is more about signalling future intent than shifting near‑term supply

Venezuela oil exports top 1mn bpd for first time in six months

Venezuela’s oil exports exceeded 1 million barrels per day (bpd) in March for the first time since September, driven by increased shipments to India and storage flows to the Caribbean, according to ship-tracking data.

Venezuela’s Rodriguez moves to take control of Citgo board

Venezuela’s government under interim President Delcy Rodriguez is preparing to take control of the boards of PDVSA’s US-based subsidiaries, including Citgo Petroleum, in a move that could intensify a long-running dispute over its control.

Shell weighs expanded Venezuela gas push as talks advance

The London-based energy group is aiming to take a final investment decision on Dragon by the end of the year, while simultaneously assessing nearby zones linked to the Mariscal Sucre development

OFAC clarifies compliance rules for Venezuela energy and mining Operations

The clarification reinforces that limited activities remain permitted under specific licences, while detailing how non-US companies can operate without breaching restrictions

Argentina's YPF to freeze fuel prices for 45 days amid Middle East-driven oil volatility

Argentine state oil company YPF will hold pump prices steady for 45 days to shield consumers from crude oil volatility driven by the Middle East conflict, its chief executive said on April 1.

Bolivia and Chile team up to combat cross-border fuel tampering network

Bolivia and Chile have stepped up bilateral cooperation to tackle a cross-border fuel adulteration network, as investigations reveal systematic tampering with shipments destined for the Bolivian market.

Bolivia probes cross-border fuel fraud as $150mn losses trigger political fallout

Bolivia has launched a sweeping investigation into an alleged international network accused of siphoning and adulterating imported fuel, as authorities estimate losses of around $150mn linked to the scheme.

Bolivia reshuffles YPFB leadership as fuel crisis forces sector overhaul

Bolivia has replaced the head of its state energy firm and unveiled a series of emergency measures aimed at restoring confidence in fuel supply, following weeks of disruption linked to contaminated petrol and mounting social pressure.

Bolivia suspends Vitol, Trafigura fuel deals as smuggling probe deepens supply concerns

Bolivia has halted fuel supply contracts with global traders Vitol and Trafigura as authorities intensify an investigation into a cross-border network accused of distributing contaminated petrol, raising fresh concerns over energy security.

YPF shares jump nearly 7% after favourable US court ruling

Shares of Argentina’s state-controlled oil company YPF have risen nearly 7% since a US appeals court ruled in favour of the Argentine state and the company in a long-running legal dispute over its 2012 nationalisation, market data showed.

Slovak refiner turns to Guyana and Latin America for crude as Hormuz closure cuts off Middle East supply

ExxonMobil targets Haimara discovery as anchor for ninth offshore Guyana project

Pemex production rises for third straight month as oil price surge opens export opportunity

Mexico's public investment falls 44.9% in worst drop on record as Pemex spending collapses

Russia pledges continued Cuba oil supplies as sanctioned tanker docks at Matanzas with 730,000 barrels

The Russian-flagged tanker Anatoly Kolodkin docked at Cuba's port of Matanzas on March 31 carrying 730,000 barrels — equivalent to 100,000 tonnes — of crude oil, the first significant petroleum delivery to reach the island in over three months