LatAmOil - Latin America Oil & Gas

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Oil & Gas

Region: Latin America   Category: Oil & Gas Frequency: Every Tuesday

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LatAmOil provides oil and gas Insight and Foresight from Mexico and Central America to the Caribbean and South America. From the heavyweight producers such as Brazil to emerging frontiers like Guyana, LatAmOil informs you of what is going on and why through commentary, exclsuive interviews, news and analysis. In such a notoriously challenging environment, in-depth and accurate information makes every difference in vital decision making and strategy – LatAmOil brings this directly to your inbox every week.

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TotalEnergies readies itself for $10.5bn investment offshore Suriname

29 January 2025

TotalEnergies' Country General Manager for Suriname has highlighted the critical importance of stability for the company's planned $10.5bn investment in the Gran Morgu offshore development, the country's first such project.

Venezuela’s gas crisis and the lethal mix of neglect and environmental catastrophe

29 January 2025

In the northern Monagas region, the incessant roar of flares from oil fields like Santa Bárbara and Jusepín creates an unbearable cacophony, accompanied by the glow of flames and a growing radioactive cloud of toxic emissions

Venezuela criticises US support for Guyana amid territorial dispute

29 January 2025

Guyana's recent granting of oil licenses, including one to US-based ExxonMobil, has triggered a sharp response from Venezuela, which continues to assert its claim over the Essequibo region, a territory of 160,000 square kilometres

Ecuador offers oil supply to nations that cut imports from Venezuela

29 January 2025

President Daniel Noboa announced Ecuador’s willingness to supply 250,000 barrels of oil per day to nations that cut imports from Venezuela

PDVSA’s revenues surge in 2024 amid recovery in Venezuelan oil production and exports

29 January 2025

Petróleos de Venezuela (PDVSA) wrapped up 2024 with a notable revenue increase, reaching $15.7bn—an 18% rise compared to the previous year

Venezuela’s oil recovery at risk amid potential US sanctions shift

28 January 2025

Venezuela’s fragile recovery in oil production, which grew 17.6% last year, could reverse sharply if the administration of US President Donald Trump enforces stricter sanctions

Petrobras hits 2024 production targets amid pre-salt record output

28 January 2025

Petrobras met its 2024 oil and gas production targets within the ±4% margin set out in its 2024-2028 Strategic Plan, the state-run company said.

Mexico's $20bn refinery crisis threatens energy sovereignty

28 January 2025

The ambitious Dos Bocas refinery project in Mexico, once hailed a symbol of energy independence under President Andrés Manuel López Obrador (AMLO), is now facing severe setbacks that threaten its future.

Trump calls on OPEC to ramp up oil supply

28 January 2025

"Right now the price is high enough that that war will continue," Trump said at Davos.

Argentine record trade surplus driven by peak oil production

28 January 2025

Argentina achieved its largest annual energy trade surplus in nearly 20 years during 2024, reaching $5.7bn as record shale production from the Vaca Muerta formation drove oil exports and reduced gas imports.

Petroecuador seals $251mn crude oil deal

28 January 2025

Petroecuador has secured buyers for 3.9mn barrels of crude oil scheduled for February delivery, a deal that will generate $251mn in revenue for Ecuador.

Guyana in search of LNG plant maintanence provider

28 January 2025

Guyana's landmark Gas-to-Energy project is advancing with new requests for proposals, as the government seeks to maximise the utilisation of natural gas from the ExxonMobil-operated Stabroek Block.

How Trump's agenda may rock Argentina's oil and gas sector

28 January 2025

Trump's planned energy policy shift could create significant headwinds for Argentina's oil and gas sector, according to market analysts.

Gran Tierra to focus on Colombia and Ecuador in 2025 production targets

28 January 2025

Gran Tierra Energy has unveiled its 2025 capital budget and production guidance, targeting capital expenditure between $240mn and $280mn while forecasting operating cash flow in the range of $260mn to 300mn.

Global subsea tree demand driven by Guyanese oil sector

28 January 2025

Global subsea tree orders reached 255 units in 2024, marking an 11% quarterly decline, yet the market is expected to rebound in 2025, with forecasts pointing to 290 units driven by increased offshore activities from emerging players like Guyana.

Brazil regulator orders merger of offshore fields, to raise Petrobras taxes

28 January 2025

Brazil's national oil and gas regulator ANP has ruled to merge the Berbigão and Sururu offshore fields, a decision that will increase taxes on the assets and potentially impact Petrobras' financial performance, the national oil company (NOC) said

Brazil’s Petrobras moves forward with Tartaruga Field stake sale

28 January 2025

Petrobras has initiated the binding phase to sell its 25% minority interest in the Tartaruga Field, located in the shallow waters of the Sergipe-Alagoas Basin.

Colombia's Ecopetrol’s proven reserves to fall 4.6%

28 January 2025

Ecopetrol’s proven reserves are expected to decline by 4.6% by the end of 2024, primarily due to limited efficiency gains.

World Bank upholds $8.37bn ruling in favour of ConocoPhillips over Venezuela

27 January 2025

A World Bank arbitration tribunal has rejected Venezuela's request to annul an $8.37bn award to ConocoPhillips, reinforcing the US oil producer's claim to compensation for expropriated assets under Hugo Chavez's nationalisation program.

US poised to cut Venezuelan oil ties as supply glut looms

27 January 2025

Venezuela, once a significant supplier of crude oil to the United States, may be on the brink of losing its position as a key energy partner as Trump floats plans to end export licences.

Argentine governor seeks regional energy integration with Uruguay, eyes Vaca Muerta gas

27 January 2025

Argentine governor Rolando Figueroa held a meeting with Uruguay's president-elect, Yamandú Orsi, to discuss regional energy cooperation, with a particular emphasis on the potential of the Neuquén basin’s gas and oil resources

TGS, Petrobras open imaging centres for Brazil offshore exploration

26 January 2025

Norwegian energy data firm TGS has launched advanced imaging centres in partnership with Petrobras to enhance subsurface data interpretation in Brazil’s Campos and Santos basins.

Ecuador eyes foreign investments of $42bn in oil industry through 2029

26 January 2025

Ecuador has outlined ambitious plans for its oil sector, with acting Energy Minister Ines Manzano announcing expected foreign investments of $42bn over the next five years.

El Salvador's electricity demand rises 4.3% in 2024

26 January 2025

El Salvador's electricity demand grew 4.3% to 7,145.2 GWh in 2024, according to the national energy market administrator Unidad de Transacciones.

Brazil’s Azevedo & Travassos secures Petrobras platform maintenance deal

25 January 2025

Azevedo & Travassos, through its subsidiary Heftos Óleo e Gás Construções S.A., has signed a BRL298.3mn ($50.7mn) contract with Petrobras for integrated industrial maintenance services on oil platforms in the Campos Basin.

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