LatAmOil - Latin America Oil & Gas

Fitch confirms BB rating on Colombia's Promigas' $920mn hybrid bond issue

Fitch Ratings assigned a final BB rating to Promigas and its Peruvian co-issuers' $920mn subordinated hybrid notes, confirming its earlier expected rating after reviewing the final transaction documents, the agency said

Repsol turns Venezuela into a new opportunity after years of losses

The Spanish oil company, which spent years dealing with financial challenges in Venezuela, is now positioned to turn a troubled investment into a potential growth driver

Mexican fracking committee heavily weighted towards industry, analysis shows

A 47-member scientific panel tasked with advising President Claudia Sheinbaum and the Mexican government on whether to legalise hydraulic fracking has more than twice as many pro-oil industry profiles as critics.

JPMorgan maps out De la Espriella’s economic priorities after election win

Colombia's Ecopetrol extends slide as investors lock In gains after election rally

Shares of Ecopetrol extended losses on June 24 after falling more than 10% over two trading sessions on Colombia’s stock exchange, as investors took profits following a sharp rally linked to expectations surrounding the election of president-elect

Colombia's De La Espriella nears cabinet announcement ahead of August transition

Colombia’s president-elect Abelardo de la Espriella is expected to unveil members of his incoming administration in the coming days after holding meetings with close advisers to assess ministerial candidates and prepare the transition

Colombia's De la Espriella sets Fiscal repair, fossil fuel energy revival at core of economic agenda

Colombia’s president-elect Abelardo de la Espriella is preparing an economic programme centred on fiscal consolidation, renewed oil and gas development, infrastructure expansion and housing incentives as his administration seeks to revive growth

Chevron says Venezuela operations unaffected after deadly earthquakes

Chevron Corp. said its Venezuelan operations continue to function normally following the pair of powerful earthquakes that struck the country, as energy companies and authorities assess damage in regions near the epicentre

Bolivia's fuel suppliers Vitol, Trafigura owed nearly $500mn, minister admits

Bolivia owes close to $500mn to fuel suppliers Vitol and Trafigura, hydrocarbons and energy minister Marcelo Blanco acknowledged in an interview with Radio Fides on June 24.

Brazil delays vote on higher ethanol blend in gasoline

Brazil has postponed a meeting of the National Energy Policy Council (CNPE) that was due to consider raising the mandatory share of anhydrous ethanol in gasoline from 30% to 32%, the Ministry of Mines and Energy said.

Brazil eyes end to fuel subsidies as falling oil prices erode rationale for price intervention

Brazil's government is preparing to wind down its fuel subsidy programme as oil prices retreat toward $80 per barrel following the US-Iran peace agreement, with officials signalling the measures could be scrapped as early as this month.

Brazil companies rush into Venezuela as Eneva eyes gas power deals in reopening market

Brazilian energy company Eneva is exploring potential deals in Venezuela's gas-fired power sector while a delegation of around 30 Brazilian companies descended on Caracas earlier in June for meetings with senior Venezuelan officials.

Exxonmobil wins US supreme court backing in Cuba asset dispute

The US Supreme Court ruled that Exxonmobil can continue pursuing claims against Cuban state-owned entities over assets nationalised after the 1959 revolution, a decision that could encourage additional lawsuits under the Helms-Burton Act

US expands Cuba sanctions to financial, mining entities

The US imposed sanctions on five Cuban state-linked entities and one individual on June 23, broadening pressure on Havana as the administration of President Donald Trump seeks to tighten restrictions on key sectors of the island’s economy

Cuba expands solar power network in Holguín with Canadian support

Cuba has installed 344 photovoltaic systems across 10 municipalities in the eastern province of Holguín under a joint programme with Canada aimed at expanding renewable energy access and supporting community development

Markets bet big on De la Espriella, Colombia's next president. Economists are not so sure

Colombian markets were upbeat on De la Espriella's victory. But two economists tell IntelliNews the celebration may be premature, with deep state cuts, fracking and a harsh security crackdown carrying steep hidden costs.

Petronas advances LNG project offshore Suriname with environmental impact statement

Petronas is advancing the Sloanea gas development through Suriname's environmental approval process, positioning Block 52 as an offshore production that could transform the South American nation into a significant LNG exporter.

Cuba oil lifeline hinges on Mexican firms willing to brave US sanctions

Cuba’s oil lifeline hangs by a thread. As Mexico attempts a risky private-sector workaround to bypass tightened US secondary sanctions, mid-sized firms face an overnight death sentence if they lose access to dollar clearing.

The debate over EU methane regulation and energy security

The EU’s methane regulation has split analysts, with Rystad saying it will not harm supply and Wood Mackenzie warning it could make large volumes of imports non-compliant.

Mexico's fuel sector faces dual pressure from price caps and supply chain strain

Mexico's petrol industry faces a compound squeeze: voluntary diesel price caps worth MXN27/L, gross margins of just MXN1.50/L before costs, and 60% of operators reporting rising fuel theft. Only 32% of stations grew sales in May.

Venezuelan crude gains ground in India as imports recover from supply disruptions

India’s crude oil imports have returned to more stable levels in June, supported by record purchases from Russia and additional supplies from countries including Venezuela, Angola, Brazil and Iran

Venezuela’s first-quarter oil revenue climbs as exports accelerate

Venezuela generated $5.49bn in oil export revenue during the first quarter, a 21% increase from the same period a year earlier, according to balance of payments data released on June 22 by the Central Bank of Venezuela

Venezuela bets on gas revival despite persistent energy shortages

Venezuela is seeking to revive its long-underdeveloped natural gas industry through new agreements with Shell, Eni and Repsol, even as the country continues to grapple with power cuts, electricity rationing and shortages of domestic cooking gas

Debt restructuring uncertainty sends Venezuelan bonds to two-month low

Bonds due in 2027 dropped below 50 cents on the dollar for the first time since April 10, while debt issued by state oil company Petróleos de Venezuela SA also declined

Venezuela’s oil revival hinges on political stability, economists say

According to experts, Venezuela’s efforts to attract foreign capital into its energy industry will struggle to gain traction unless investors see lasting political stability and stronger institutions