LatAmOil - Latin America Oil & Gas

New basin model reshapes expectations for Suriname’s offshore exploration frontier

New geological modelling suggests Suriname's offshore challenges stem from petroleum generation and migration rather than reservoir quality, highlighting why Guyana's Golden Lane has consistently outperformed neighbouring acreage.

Brazil pre-salt project starts oil flow

Brazil rejects ethanol tariff talks

Brazil has ruled out lowering tariffs on ethanol imports as part of ongoing trade negotiations with the United States, Trade Minister Marcio Elias Rosa said.

Argentine oil well breaks Vaca Muerta output record

A single well in Argentina’s Río Negro province reached an output of 2,700 barrels per day at the end of October 2025, the highest daily peak across all of Vaca Muerta.

Brazil’s Petrobras completes acquisition of exploration block off São Tomé and Príncipe

Petrobras has completed the acquisition of a stake in, and assumed operations of, Block 3, an offshore exploration block located in São Tomé and Príncipe, off the coast of Africa.

Enersea unveils LNG loading platform concept for South American export projects

Dutch offshore engineering company Enersea has introduced a liquefied natural gas (LNG) loading platform concept designed for shallow offshore and nearshore developments.

Mexico names 2,163 fuel stations for breaching price caps on diesel

The Mexican government published a list on July 12 naming 2,163 service stations that had not complied with a voluntary agreement to cap prices on diesel, as authorities sought to maintain prices through the global fuel price shock from the Iran war.

Phoenix well in Río Negro extends Vaca Muerta's productive frontier eastward

A horizontal shale oil well drilled by Phoenix Global Resources in Argentina's Río Negro province has emerged as one of the highest-performing wells in the Vaca Muerta formation, challenging previous assumptions about the area's commercial potential

Venezuela’s El Palito restarts FCC unit, boosting fuel production after earthquakes

Workers at the 146,000-barrel-a-day El Palito refinery said the facility has been gradually bringing processing units back online in recent days after the twin earthquakes left the plant without electricity

Venezuela oil output holds at 1.2mn barrels a day despite earthquakes

Rodríguez said crude output had continued uninterrupted despite the twin earthquakes, which measured 7.2 and 7.5 and, according to official figures, killed more than 4,500 people and injured nearly 17,000

Rodríguez says oil growth to underpin Venezuela’s La Guaira reconstruction

Interim President Delcy Rodríguez said Venezuela's oil sector and broader economy remain resilient despite the destruction caused by the June 24 earthquakes, pledging to rebuild the heavily affected state of La Guaira

Trump says US controls Venezuelan oil, signals push for allies to share security costs

US President Donald Trump said the US controls Venezuela's vast oil resources, linking the country's energy wealth to a broader argument that Washington should be compensated by allied nations

Vaca Muerta could generate up to 90,000 jobs as development accelerates, YPF CEO says

Argentina’s Vaca Muerta shale formation could create more than 90,000 jobs at peak activity as large-scale oil and gas development gathers pace, YPF President and Chief Executive Horacio Marín said.

ExxonMobil closes in on Trinidad and Tobago offshore block

ExxonMobil has almost completed its seismic acquisition on the TTUD-1 Block offshore Trinidad and Tobago, potentially propelling production to 74,600 barrels per day by 2029 following years of decline.

Guyana rakes in almost $2bn in petroleum revenues in H1 2026

Guyana accumulated nearly $2bn in petroleum revenues during the first half of 2026, according to Official Gazette notifications.

ExxonMobil advances ultra-deepwater appraisal as Trinidad eyes next exploration frontier

ExxonMobil has nearly completed seismic acquisition on Trinidad and Tobago's TTUD-1 ultra-deepwater block, with geological interpretation now set to determine whether the frontier acreage contains commercially viable drilling prospects.

Suriname’s Block 52 gains geological backing as basin study sharpens exploration focus

A new geological study identifies the area surrounding Suriname’s Block 52 as the basin’s strongest oil-generating zone, providing scientific backing for recent discoveries and strengthening confidence in future offshore developments.

Suriname’s offshore licensing model draws fresh interest as competition widens beyond flagship acreage

Suriname's open-door offshore licensing programme has attracted a fourth proposal, extending investor interest beyond flagship deepwater acreage and reinforcing competition across the Guyana-Suriname Basin.

Bolivia freezes fuel prices for a year, sets dollar linked pricing formula for 2027

Bolivia's government will keep petrol, diesel and other fuel prices frozen for the next 12 months, before introducing a new pricing mechanism tied to international oil prices and the average dollar exchange rate.

US LNG exports to Latin America unlikely to stay at three-year high as regional supply pressures ease

Guyana shifts oil localisation drive towards equal pay for skilled workers

Guyana's oil industry is entering a new phase as operators back equal pay for qualified local workers, highlighting the country's shift from expatriate dependence towards a mature, skilled domestic offshore workforce.

Guyana’s offshore boom shifts labour challenge from oilfields to maritime logistics

Guyana's oil expansion is creating a less visible but increasingly critical challenge: building the skilled maritime workforce needed to sustain offshore operations as production and vessel traffic continue to accelerate.

Guyana tests credibility of new oil licensing regime

Guyana has given Cybele Energy until the end of July to pay a $17mn signing bonus or risk losing its offshore oil licence, highlighting Georgetown's determination to enforce stricter petroleum contracts.

LNG Alliance targets Argentina for expansion after advancing Mexico export project

Singapore-based LNG Alliance is preparing to expand into Argentina as it evaluates liquefied natural gas (LNG) export opportunities in the country, following progress on its $3.5bn Amigo LNG project in Mexico.

Archer secures $90m drilling rig contract from YPF for Vaca Muerta expansion

Oilfield services company Archer has been awarded an additional five-year contract by YPF to supply a super-spec drilling rig for Argentina's Vaca Muerta shale formation, expanding its fleet in one of the world's busiest unconventional oil and gas.