LatAmOil - Latin America Oil & Gas

Brazil’s Petrobras secures PSCs for eight exploration blocks offshore Côte d'Ivoire

Brazilian oil major Petrobras is expanding its presence in West Africa after moving ahead with production sharing contracts for eight offshore exploration blocks in Ivory Coast.

Petroecuador contains fuel leak in Ecuador from suspected illegal tapping at key pipeline

Petroecuador has brought under control a fuel leak detected on June 14 in the La Unión parish of Quinindé, caused by what the state oil company described as an attempted illegal tap on the Esmeraldas-Santo Domingo pipeline at the PK105 marker.

S&P upgrades TGS debt rating to B after Argentina risk revision

Transportadora de Gas del Sur (TGS) received an upgrade to its long-term local and foreign currency debt ratings from B- to B by S&P Global Ratings on June 11.

Pemex and Petrobras to finalise Gulf of Mexico exploration agreement in June

Magda Chambriard, president of Petrobras, announced June 12 that Juan Carlos Carpio Fragoso, CEO of Petróleos Mexicanos (Pemex), will travel to Brazil this month to finalise an agreement on joint offshore exploration.

Colombia gas imports hit record 32% of demand as output slides to multi-year low

Colombia imported a record share of its natural gas in the first week of June, covering 32% of national demand — equivalent to 299.1 Gbtud — as a structural decline in domestic production and the approaching El Niño weather pattern

SLB, PDVSA agree long-term partnership to modernise Venezuela’s energy industry

The memorandum of understanding establishes a broad platform for cooperation covering exploration, field development, production activities and training programmes

PDVSA, Schlumberger forge partnership to expand energy cooperation

Venezuela has signed a memorandum of understanding with oilfield services giant Schlumberger Limited

Venezuela, US hold energy talks as oil sector recovery accelerates

Venezuelan interim President Delcy Rodríguez met with senior US officials to review the bilateral energy agenda, highlighting deepening cooperation as the South American country expands oil production and attracts foreign investment

Lazard offers cut-price bid for Venezuela debt advisory role

Lazard has made a $25mn proposal to become Venezuela’s financial adviser for its sovereign and PDVSA debt restructuring, challenging the appointment of Centerview Partners in what could become one of the world’s largest debt overhauls

US capital targets Venezuela as investment interest accelerates

US investors are moving quickly to gain exposure to Venezuela following political changes earlier this year and the reopening of key sectors to foreign capital, with oil assets attracting the strongest interest

China debt clouds Venezuela’s restructuring efforts

Philip Luck of the Center for Strategic and International Studies warned that any IMF-backed restructuring could face difficulties if other creditors are asked to accept losses while Chinese claims retain preferential treatment

US sees rising demand for Venezuelan crude as output expands

US Energy Secretary Chris Wright said American refineries are capable of processing more Venezuelan crude and are expected to increase purchases as the country’s oil production continues to recover

Venezuela warns of new oil spill threat as tensions with Trinidad deepen

Venezuela's government argued that the latest incident was larger than a previous spill reported in May

Trafigura, Vitol target Asia as Venezuelan oil output climbs

Recent outreach has included South Korea, Malaysia and India, where traders have pitched Venezuelan barrels at competitive prices

Brazil’s Petrobras starts cash flow from new FPSO

Brazil’s state-controlled oil company Petrobras has begun generating revenue from its latest floating production unit after completing the first oil offloading from the FPSO P-79 at the Búzios field in the Santos Basin.

Equinor hands Brazil deal to Ocean Installer

Ocean Installer, a unit of Norway’s Moreld ASA, has secured a contract from Equinor to carry out well tie-in work at the Bacalhau field in Brazil’s Santos Basin under a deal lasting 4.5 years.

Colombia's President Petro plans Air-e liquidation to overhaul Caribbean power system

Colombian President Gustavo Petro announced plans to liquidate Air-e, the troubled Caribbean region electricity distributor, transferring its assets to a newly formed public utility as part of a comprehensive restructuring

Cuba unveils economic reforms and diaspora investment opening amid deepening energy crisis

Cuba unveils sweeping economic reforms, cutting ministries and opening doors to foreign Investment

Washington sanctions Cuba's state oil company

The US government designated Cuba's state-owned oil and gas company, Unión Cuba-Petróleo (Cupet), under sanctions, deepening a pressure campaign against Havana that has already sharply curtailed the island's fuel supplies

US expands authorisations for Venezuela energy and mining operations

Washington authorised new activities involving the export, marketing and transportation of Venezuelan crude oil and petrochemical products to the United States by US companies

Venezuela authorises Shell to advance Loran gas project

The authorisation was announced during a ceremony in Caracas led by interim president Delcy Rodríguez

Chilean-Brazilian Latam Airlines bets on smaller jets as fuel costs rise

Chilean-Brazilian carrier LATAM Airlines Group and Brazilian planemaker Embraer unveiled the first E195-E2 aircraft ordered by the airline, part of a $2.1bn deal for 24 jets as airlines shift towards smaller aircraft amid higher fuel prices.

ExxonMobil's Guyana profit dips to $4.67bn in 2025 on lower prices despite record production growth

Petroecuador adds new wells at Sacha and Auca fields, boosting output by nearly 4,000bpd

Ecuador's state oil company Petroecuador has brought two new wells into production at its flagship Sacha and Auca fields, adding nearly 3,800 barrels per day of combined output as the government pushes to reverse a decline in national production.