LatAmOil - Latin America Oil & Gas

Mexico Pacific secures major LNG deal with South Korea's POSCO

Guyana to accelerate oil production as global energy transition takes charge

Guyana's Minister of Natural Resources Vickram Bharrat outlined the country's depletion policy at the Guyana Energy Conference and Supply Chain Expo 2025, which prioritises rapid oil extraction to maximise economic benefits within a limited timeframe

ExxonMobil begins appraisal of Guyana's Hammerhead project

The Stena Carron has commenced appraisal drilling at the Hammerhead-4 well in the Stabroek Block offshore Guyana, according to the country's Maritime Administration Department.

BP Trinidad and Tobago enters an agreement to divest gas fields to Perenco T&T

BP Trinidad and Tobago announced that is has finalised an agreement to sell its stakes in several offshore gas fields to Perenco T&T.

Ecopetrol reports a significant oil production increase using the air injection method

Ecopetrol has successfully increased its oil output through an innovative air injection pilot project at the Chichimene heavy oil field in Acacías, Meta.

AMEXHI advocates for oil auctions to boost Mexico’s production

Reviving oil bidding rounds could be crucial for increasing Mexico’s crude oil production by almost 1mn barrels per day over the next two decades, according to the Mexican Association of Hydrocarbon Companies.

Staatsolie chief calls for local content policy in Suriname

As Suriname advances toward its first offshore oil production project, Staatsolie's managing director Annand Jagesar has advocated for a local content policy rather than a formal law.

Harbour Energy nears completion of Wintershall Dea acquisition following Mexican approval

Harbour Energy is on track to finalise its acquisition of Wintershall Dea's global exploration and production assets, with completion expected in early September 2024.

TotalEnergies to hire 600 workers in Block 58 project offshore Suriname

TotalEnergies announced that its $9bn Block 58 development offshore Suriname is expected to create job opportunities for approximately 600 people during the drilling phase.

Ecopetrol faces board resignations amid Occidental Oil deal controversy

Ecopetrol SA has experienced a shake-up in its leadership following the company’s retraction from a $3.6bn deal to acquire a stake in shale oil assets from Occidental Petroleum Corp.

TechnipFMC completes work on Guyana's landmark gas-to-energy project

UK energy technology company TechnipFMC announced that it has successfully completed its role in Guyana’s landmark gas-to-energy.

Gato Negro seeks 20-Year US permit for LNG export via Mexico

Gato Negro, a Mexican energy developer, has applied for a 20-year permit from the US Department of Energy to export natural gas to Mexico and re-export it as liquefied natural gas (LNG) to global markets.

New hydrocarbon basin discovered in Bolivia

Bolivia has made a significant discovery of a new hydrocarbon basin at the Mayaya Centro-X1 (MYC-X1) well in Caranavi province, situated in the La Paz department.

Argentine consultancy director identifies key workforce challenge facing Vaca Muerta

In an interview with Vaca Muerta News Radio, Natalia Maciel, Founder and Director of the Macval consultancy, shared her insights on the workforce challenges facing the Vaca Muerta region.

US greenlights Mexico’s Altamira LNG as first non-FTA permit since pause

Mexico’s Altamira LNG export facility has become the first terminal to be granted approval by the US Department of Energy to ship abroad LNG cargoes to countries that do not hold a Free Trade Agreement with the US since President Biden's pause.

Mexico Pacific secures 20-year LNG supply deal with South Korea’s POSCO

Mexico Pacific has sealed a 20-year supply deal with South Korean industrial giant POSCO to sell the company 0.7mn tonnes per year of LNG.

Venezuelan minister of oil announces new interbank currency market and oil sector revamp

Venezuelan Executive Vice President Delcy Rodríguez announced the launch of a new interbank currency market designed to enhance connectivity between financial institutions, marking a significant step in the country’s economic reforms

Sinochem mulling leaving US shale JV with ExxonMobil, says report

China’s state-backed Sinochem is considering divesting its 40% stake in a shale joint venture in the US with ExxonMobil.

YPF considers sale of lithium unit to focus on Vaca Muerta shale

Argentine national oil company YPF is contemplating the sale of its lithium unit, YPF Litio, forming part of the company’s divestment strategy aimed at refocusing investments on the Vaca Muerta shale formation.

Guyanese oil exports to rake in $18.6bn revenue in 2024, government forecast finds

Guyana's government has revised its 2024 oil export forecast upwards, now anticipating a total value of revenue of $18.67bn for the year.

Trinidad and Tobago gas output slumps to 22-year low

In June 2024, Trinidad and Tobago's natural gas production fell below 56.6 mn cubic metres for the first time in 22 years, government data revealed.

Pemex boosts ESG spending amid debt challenges

Mexican state-owned oil company Petróleos Mexicanos (Pemex) is ramping up its environmental, social, and governance initiatives despite ongoing financial pressures.

PDVSA ad-hoc board defends Citgo’s performance amid financial mismanagement claims

The ad-hoc board of Petróleos de Venezuela S.A. (Pdvsa), led by Horacio Medina, has dismissed allegations of "financial mismanagement" concerning Citgo.

Venezuela oil spill crisis deepens as Maduro faces OAS rebuke over inaction

Luis Almagro, Secretary General of the Organization of American States (OAS) Secretary General has called out the Venezuelan government's apparent indifference to a significant environmental disaster unfolding along its coastline.

Mexico’s nearshoring boom hinges on energy sustainability

As nearshoring continues to bolster Mexico's status as a prime location for foreign investment, experts emphasise that the country must ensure a reliable and sustainable energy supply to sustain this momentum.