LatAmOil - Latin America Oil & Gas

TotalEnergies sets stage for fresh exploration on Suriname’s Block 58

TotalEnergies is preparing a new 2027-28 exploration campaign on Suriname’s Block 58 as GranMorgu advances towards first oil, potentially expanding the resource base behind the country’s emerging offshore oil industry.

Suriname offshore interest broadens as Staatsolie receives fifth Open-Door proposal

Suriname’s offshore exploration market is attracting sustained interest, with Staatsolie receiving its fifth Open-Door proposal since June as the country approaches first oil production in 2028.

Brazil’s Petrobras expands Africa push with new Mozambique ENH agreement

Petrobras and Mozambique’s state-owned ENH have signed a two-year MoU to explore oil and gas cooperation as Maputo seeks fresh energy investment.

LATAM BLOG: Trump keeps Machado's medal and Rodríguez's oil

María Corina Machado made three failed attempts to reach Venezuela from Panama by sea and air on September 21 and 22, her team said. On the second of those days Delcy Rodríguez, the country's acting president, held her first meeting with Trump.

Argentina protests UK over Falklands offshore oil licence extensions

Argentina on September 22 lodged a formal diplomatic protest with the United Kingdom over the extension of offshore hydrocarbon licences in the Falkland Islands (also known as Malvinas), rejecting what it described as unilateral activity.

US plans up to $7bn financing package for Argentina’s energy and minerals

The United States plans to provide up to $7bn in financing for critical minerals and energy projects in Argentina, as Washington and Buenos Aires deepen economic cooperation and seek to expand access to the South American country's energy and mineral

Argentina’s Vaca Muerta LNG project seeks US-backed financing for $51bn development

Argentina LNG, a $51bn project led by YPF, Italy's Eni and UAE-based XRG to turn gas from Vaca Muerta into liquefied natural gas for export, could receive financing support from the US Export-Import Bank and private investors.

Falklands extends offshore oil licences as Argentina steps up legal challenge

The Falkland Islands government has extended existing offshore oil licences for five years as Argentina steps up legal and political efforts to block development of the territory’s petroleum resources.

Argentina’s oil patch draws more than $416mn in oil exploration commitments

Argentina’s Neuquén and Mendoza provinces are advancing oil exploration projects carrying more than $416mn in proposed investment and access payments, spanning new acreage in Neuquén and conventional exploration areas in Mendoza.

Brazil’s Petrobras targets January for Foz do Amazonas appraisal wells

Brazil’s Petrobras plans to begin drilling three wells in the Foz do Amazonas basin in January 2027 as it seeks to determine whether its recent oil discovery in the environmentally sensitive offshore region is commercially viable.

Argentina races to end oil and gas transport shortfall, unleashing full hydrocarbon potential

With Argentina’s Vaca Muerta shale formation accounting for roughly 72% of the nation’s entire hydrocarbon production, the country is in a race to bolster its transportation infrastructure in order to cater for this oil and gas sector boom.

Perenco plans $110mn power upgrade in Brazil

Perenco plans to invest $110mn to connect its Campos Basin oil platforms to Brazil’s national electricity grid through Porto do Açu, replacing part of the gas-fired power generation currently used offshore.

US EXIM offers $550mn for Guyana Gas-to-Energy phase two

The United States Export-Import Bank (US EXIM) may lend up to $550mn to finance the second phase of Guyana's Gas-to-Energy (GTE) project at Wales, West Bank Demerara.

Venezuela puts debt restructuring on hold to prioritise oil deals

Venezuela's interim government under President Delcy Rodríguez has reportedly decided to postpone the restructuring of its external public debt and the obligations of state oil company Petróleos de Venezuela (PDVSA).

Former Vitol trader gets four years for Ecuador and Mexico bribery scheme

Javier Aguilar, a former oil trader at Vitol, one of the world's largest energy trading firms, was sentenced on September 18 to four years in US prison over his 2024 conviction on corruption charges.

Mexico's Sheinbaum confronted energy officials over Pemex's fuel output slide

Mexican President Claudia Sheinbaum angrily confronted top energy and finance officials at a late-July meeting after second-quarter data showed Pemex's gasoline and diesel output falling even as the country leaned more heavily on costly imports.

Vitol and Trafigura push for deeper Venezuelan crude discounts

International oil traders Vitol and Trafigura are demanding deeper discounts on Venezuelan crude as record ocean freight rates eat into their margins.

Bolivia's oil chamber urges new rules to revive collapsing hydrocarbons sector

Bolivia's Chamber of Hydrocarbons and Energy (CBHE) called on the government on September 21 to establish a new regulatory framework to recover investment and rebuild oil and gas reserves.

Bolivia scraps diesel subsidy for small consumers as gas output collapse forces reckoning

Bolivia's government under President Rodrigo Paz eliminated the diesel subsidy for small consumers on September 19, nearly doubling the price per litre from 9.80 to 17.95 bolivianos (roughly $1 to $1.83).

Trump and Venezuela’s Rodríguez hold first meeting since Maduro's capture

US President Donald Trump met Venezuela's interim President, Delcy Rodríguez, in New York on the evening of September 22, in their first sit-down since Washington's January operation to remove Nicolás Maduro.

Grupo Carso's $1.43bn Mexico Centauro del Norte pipeline faces second-phase delay risk

Grupo Carso's $1.43bn Centauro del Norte natural gas pipeline, designed to bring cheaper US Permian basin gas to power plants in northwestern Mexico, faces potential delays to its second phase amid territorial risks and conflicting progress reports.

Argentina's Puerto Rosales receives loading arms to expand crude oil shipping capacity

OTAMERICA’s Puerto Rosales terminal in Buenos Aires has received the loading arms that will be installed at the third operating position of its new pier, as part of the Rosa Negra project to expand the facility’s capacity to load crude oil.

YPF to seek financing agreements in New York during Argentina-US forum

Falkland Islands extend offshore oil licences for five years

The Falkland Islands (also known as Malvinas) government has extended all existing offshore oil licences for an initial five years, with a possible two-year extension for companies that meet their work commitments.

Petroecuador boosts output as new Drago field well adds 1,543 bpd

Ecuador's state oil company Petroecuador has brought a new well online at the Drago field in the Ecuadorean Amazon, adding 1,543 barrels of daily output and generating an estimated $4mn in additional monthly revenue.