LatAmOil - Latin America Oil & Gas

Coastal Contracts consortium secures $1.14bn Pemex contract for Mexico's Ixachi gas field expansion infrastructure

Coastal Contracts secured a large-scale engineering, procurement and construction agreement with Pemex expanding its role in developing the Ixachi onshore gas field, one of Mexico's most strategic natural gas assets.

Pemex's debt instruments yield 24% gains as Mexican government's $41bn borrowing programme shores up oil company's finances

Mexico President defends Cuba petroleum shipments as sovereign prerogative amid Washington criticism

Mexico accelerates refined fuel self-sufficiency as Pemex import volumes fall 22% through October

Mexico's state oil company Pemex cut refined fuel purchases 22% during January through October 2024 versus the comparable 2023 period, averaging 414,000 barrels daily compared with 534,000 barrels daily previously

Brazil’s ANP sets course on reserves and fuels

Brazil’s Petrobras widens gas imports

Petrobras has received authorisation from Brazil’s oil and gas regulator ANP to import up to 20mn cubic metres per day of natural gas from Bolivia for a period of two years.

US intervention in Venezuela could slow Argentina's oil investments, government warns

Brazil’s Petrobras auctions retired platforms

Brazil’s Petrobras will auction two inactive offshore platforms as part of its decommissioning programme, offering the P-26 unit with a minimum bid of BRL1.5mn ($270,000) and the P-19 unit starting at BRL1.6mn.

ANP resets Brazil gas tariffs

Brazil’s hydrocarbons regulator ANP has approved changes to the natural gas transport tariff regime, setting rules for capacity contracting and a pricing model for entry and exit points.

Brazil’s Petrobras switches on Búzios boost

Petrobras has begun producing oil from the FPSO P-78 at the Búzios 6 project in Brazil’s Santos basin, adding new capacity to the country’s largest producing offshore field.

Argentina surpasses Colombia as Latin America's fourth-biggest oil producer

Argentina has overtaken Colombia as South America's fourth-largest oil producer, driven by surging Vaca Muerta shale output that now accounts for nearly 70% of national production.

Venezuela crisis draws India’s concern after US military action

New Delhi called on all parties to resolve differences through dialogue to preserve peace and stability in the region.

Rubio clarifies US role in Venezuela following Maduro capture

US Secretary of State Marco Rubio has said that Washington would control the direction of events in Venezuela rather than directly govern the country, seeking to clarify President Donald Trump's previous statements.

Gold hits record high near $4,500 as US-Venezuela tensions escalate

Gold surges to record $4,497.55 per ounce amid US-Venezuela tensions and dedollarisation trends, whilst silver achieves 141% annual gains reflecting supply deficits and strong industrial demand.

PDVSA restarts loading as US blockade threat keeps Venezuela exports stalled

Crude shipments have dropped sharply from the more than 900,000 barrels a day exported in November, following last week’s US seizure of a sanctioned tanker

Venezuela’s defence minister slams US Caribbean presence, warns of energy risks

Padrino said the region remains open to cooperation, trade and free navigation, rejecting the idea that it is closed to US interests.

US oil quarantine puts Venezuela’s sanctions-evasion network at risk

The administration’s partial embargo focuses on tankers already sanctioned by the US Treasury, threatening a system officials say funds Nicolás Maduro and supports the country’s fragile economy

Argentina opposes Falkland Islands' first offshore oil project as Rockhopper, Navitas reach FID

Argentina has vowed to oppose Rockhopper Exploration and Navitas Petroleum's $2.1bn final investment decision on the Sea Lion offshore oil field near the Falkland Islands.

LNG expansion threatens Colombia’s offshore gas projects, consultants warn

Colombia’s plans to expand liquefied natural gas import capacity risk undermining the economics of new offshore gas developments, as imported supply could cap prices and weaken demand for domestic output, industry consultants said

Trump tests oil industry appetite for a post-Maduro Venezuela

The Trump administration has discreetly approached US oil companies to gauge whether they would consider re-entering Venezuela in a post-Nicolás Maduro era

US blockade puts Russian naphtha shipments to Venezuela at risk

Russian exports of naphtha to Venezuela are coming under strain after US President Donald Trump ordered a blockade of sanctioned tankers entering or leaving the country

Chevron’s Venezuela deal faces scrutiny as sanctioned trader benefits

Internal data from PDVSA showed that an oil trading firm tied to a sanctioned Panamanian businessman has sold all of the crude the Venezuelan state received from Chevron’s largest field since exports resumed this summer

Shell lines up drillship for Brazil pre-salt

Shell has awarded Valaris Ltd a multi-year contract for the VALARIS DS-8 drillship to support development of the Orca project offshore Brazil.

Brazil’s Petrobras moves into solar via Lightsource bp deal

Petrobras has agreed to form a joint venture with Lightsource bp to develop onshore renewable energy projects in Brazil, including solar generation.

Pemex's Deer Park refinery to undergo maintenance in 2026, Mexico President Sheinbaum confirms

Deer Park, the refinery owned by Petróleos Mexicanos in the United States, will enter maintenance in 2026, Mexican President Claudia Sheinbaum revealed, Bloomberg Línea reported.