Region: Latin America Category: Oil & Gas Frequency: Every Tuesday
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LatAmOil provides oil and gas Insight and Foresight from Mexico and Central America to the Caribbean and South America. From the heavyweight producers such as Brazil to emerging frontiers like Guyana, LatAmOil informs you of what is going on and why through commentary, exclsuive interviews, news and analysis. In such a notoriously challenging environment, in-depth and accurate information makes every difference in vital decision making and strategy – LatAmOil brings this directly to your inbox every week.
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IMF says Guyana's economy grew nearly 20% in 2025 on oil boom
Guyana's economy expanded by more than 19% in 2025 as oil production surged past 900,000 barrels per day, the International Monetary Fund (IMF) said on July 31.
Sempra pushes back commissioning of Mexico’s Energia Costa Azul LNG
Sempra LNG developer Sempra is extending the commissioning of Phase 1 of the Energia Costa Azul project in Ensenada, Mexico.
Eni sees fast-track expansion at Venezuela's Junín 5 amid contract talks
Chief Executive Claudio Descalzi said negotiations with Venezuelan authorities and the group's US partners had been constructive, underscoring the strategic importance of the Orinoco Belt asset
Petrobras cuts fuel imports as US-Iran war drives refining to record highs
Brazil's state-run oil company Petrobras cut imports of oil derivatives to about 67,000 bpd in the second quarter.
Brazil’s Petrobras' P-33 platform departs Port of Açu for sustainable recycling in Rio Grande
Petrobras said its P-33 platform set sail from the Port of Açu, in São João da Barra, Rio de Janeiro state, bound for a shipyard in Rio Grande, Rio Grande do Sul, where it will undergo sustainable recycling.
Brazil's fuel subsidies to cost $1.3bn per month, minister says
Brazil's government will spend about BRL6.8bn ($1.3bn) per month on subsidies to soften fuel prices, Planning and Budget Minister Bruno Moretti said, comprising roughly BRL1.3bn monthly for gasoline and BRL5.5bn for diesel.
Karoon's Baúna FPSO in Brazil hits record 97.2% operating efficiency in second quarter
Karoon Energy said the FPSO vessel Cidade de Itajaí, operating at its Baúna field off the coast of Brazil, reached operating efficiency of 97.2% in the second quarter, above its targeted range of 90-95% and up from 96.1% in the first quarter.
Brazil’s Petrobras output hits new record as FPSO capacities maxed out
Petrobras increased its oil and natural gas production by 14% in the second quarter from a year earlier, reaching a record 3.34mn barrels of oil equivalent per day (boepd), as new offshore production units boosted output at Brazil's pre-salt fields.
Bolivia arrests former hydrocarbons minister over faulty fuel scandal
Bolivian police arrested former Hydrocarbons Minister Mauricio Medinaceli in La Paz as part of an investigation into the purchase of substandard fuel by Rodrigo Paz's government.
Paratus exits Mexican drilling business after completing Fontis sale
Paratus completes the sale of Fontis' Mexican drilling business, accelerating its transformation into a pure-play offshore infrastructure services provider with stronger cash flow visibility and a fully contracted PLSV fleet.
Curaçao tests its ambitions to become the logistics backbone of the Guiana Basin oil boom
Curaçao is seeking to capitalise on the Guiana Basin's offshore expansion by offering crude storage, transshipment and maritime services. But without firm operator commitments, its logistics hub ambitions remain a strategic bet.
Guyana advances Whiptail development as ExxonMobil begins subsea installation
Subsea installation has begun on ExxonMobil's $12.7bn Whiptail project, advancing Guyana's next major offshore oil development towards first production in 2027 and boosting future output to around 1.3mn bpd.
Paratus Energy completes sale of Mexican drilling unit to Fontis buyer
Paratus Energy Services said July 29 it had completed the sale of Fontis' drilling operations and jack-up fleet in Mexico, closing a transaction that leaves the Norwegian-listed offshore services group focused solely on pipe-laying support vessels.
Borr Drilling's Mexican venture completes $287mn acquisition of five jack-up rigs
Borr Drilling said on July 29 that BC Ventures, its 50/50 joint venture with a long-standing well construction partner in Mexico, had finalised the previously disclosed purchase of five premium jack-up rigs from Fontis Finance.
IMF chief visited Argentina’s Vaca Muerta shale field during Buenos Aires trip
IMF Managing Director Kristalina Georgieva visited Argentina’s Vaca Muerta shale field in Neuquén province on July 28 during the second day of her trip to the country, touring the Loma Campana development operated by state energy company YPF.
Cuba expands private sector access in energy, pharmacies amid economic reforms
Cuba will allow private domestic and foreign companies to participate in oil and natural gas extraction from August under concession agreements, while opening activities including fuel stations, pharmacies and parts of the electricity sector
Venezuela's Rodríguez, US delegation review energy cooperation and earthquake response
Venezuela and the US have signed a Framework Confidentiality Agreement and a Technical and Financial Alliance between state-owned PDVSA and Shell
Venezuela's refining industry lags as oil output recovers
Venezuela's refining industry remains mired in disrepair despite a rebound in crude production and renewed interest from foreign energy companies, underscoring the scale of investment needed to restore the country's ageing fuel-processing network
Ecoanalítica sees Venezuela economy growing despite earthquake damage
The consultancy expects oil to remain the main engine of growth, forecasting crude output will rise 16.9% this year to 1.3mn barrels per day (bpd), led by private-sector activity
Colombia's Ecopetrol launches tender to secure LNG imports for Buenaventura terminal
Ecopetrol has opened a public competitive tender to procure liquefied natural gas (LNG) for its planned regasification terminal in Buenaventura, as the Colombian state-controlled energy company seeks to strengthen the country’s gas supply
Colombia's SPEC schedules regasification terminal maintenance ahead of El Niño
Colombia's Sociedad Portuaria El Cayao (SPEC) will carry out scheduled maintenance at its Cartagena regasification terminal from July 30 to August 3, following coordination across the energy sector to prepare the country's gas infrastructure
US targets Cuban energy firms with new sanctions on gas imports and oil research
The US imposed fresh sanctions on three Cuban energy companies, including a state-owned petroleum research entity and two gas importers, expanding measures against the island's energy sector under Executive Order 14404, the US State Department said
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