LatAmOil - Latin America Oil & Gas

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Oil & Gas

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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Mexico's Pemex posts MX$109bn gross profit in Q1, cuts supplier debt by 20%

8 May 2025

Mexican state oil firm Pemex reported MXN64bn operating profit on improved financial discipline and cost management, Mexico Business News reported.

ExxonMobil begins drone surveillance along Guyana's Gas-to-Energy pipeline

8 May 2025

ExxonMobil Guyana has initiated drone surveillance operations along the Gas-to-Energy pipeline corridor stretching from Nouvelle Flanders on the West Coast Demerara to Reynstein on the West Bank Demerara.

Colombia's Ecopetrol eyes cost reductions amid oil price volatility

8 May 2025

Colombia's state-controlled oil company, Ecopetrol, has announced plans to reduce its operating costs by approximately COP 1 trillion (around $232mn) in response to declining oil prices that have impacted its profitability.

Fitch affirms Colombia’s SierraCol at 'B+' rating with stable outlook

8 May 2025

Fitch Ratings has affirmed Colombian oil producer SierraCol Energy Limited's Long-Term Foreign and Local Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook.

Trinidad and Tobago seeks alternative energy projects following death of Dragon gas deal

8 May 2025

Trinidad and Tobago's new administration has officially declared the Dragon gas deal with Venezuela "dead" following its revocation by the Trump administration, forcing the Caribbean nation to seek alternative regional energy partnerships.

Brazil’s Petrobras issues tender for 18 platform supply vessels

8 May 2025

Brazil’s national oil company (NOC) Petrobras has launched a large-scale tender to charter up to 18 platform supply vessels (PSVs) to support its ambitious production expansion plans over the next three years

Venezuela vows to sustain oil output as Chevron prepares exit under renewed US sanctions

8 May 2025

Venezuela intends to keep oil flowing from key fields formerly operated with Chevron, as the US energy giant winds down operations ahead of a May 27 deadline imposed by Washington

Brazil’s Petrobras outlines ambitious expansion plans, sustainability executive replaced

8 May 2025

Petrobras is pursuing aggressive exploration and production expansion while balancing energy transition goals, the CEO at the Brazilian national oil company said.

Challenger Energy advances Uruguay projects, extends Trinidad and Tobago asset sale deadline

8 May 2025

The company plans to launch a farm-out process for AREA OFF-3 in the second half of the year. Challenger holds a 100% stake in AREA OFF-3 and a 40% interest in AREA OFF-1, with Chevron as the operator of the latter since March 2024

Brazil’s Amazon oil push heats up

8 May 2025

Brazil’s Petrobras’ CEO, Magda Chambriard, defended the company’s plan to drill for oil at the mouth of the Amazon River, part of Brazil’s Equatorial Margin, citing potential economic benefits for the state of Amapá and the country.

Golar LNG approves pioneering Argentina FLNG project to tap Vaca Muerta gas

8 May 2025

Argentina’s LNG export plans have taken a step forward even as scepticism remains.

Venezuela seeks boost in Chinese oil purchases amid warning from Chevron’s Wirth

8 May 2025

Venezuela’s Vice President Delcy Rodríguez urged Chinese officials to ramp up oil purchases and assist with diluent supplies during her recent visit to Beijing, as the country prepares for the forced withdrawal of foreign energy firms.

Chevron's final chartered tanker returns oil cargo as Venezuela exports declined

7 May 2025

A Chevron-chartered tanker carrying nearly 300,000 barrels of Venezuelan crude began offloading its cargo back to state oil company PDVSA at the Amuay Terminal on May 1.

Mexico bets on new contract model to lift gas output to 142mn cubic metres per day

7 May 2025

Mexico's ambitious push to raise domestic gas production to 142mn cubic metres per day by 2030 hinges on a new shared participation model designed to attract private investment, with four strategic gas fields prioritised for development

Argentina sees energy boom lifting trade surplus to $8bn in 2025

7 May 2025

Argentina's energy sector is poised for substantial growth, with the country expecting to achieve an $8bn trade surplus in 2025, up from $5.7bn last year.

Argentina's Vaca Muerta achieves record fracturing in April

7 May 2025

Vaca Muerta's unconventional oil and gas activity reached a new milestone in April, with a record-breaking 2,214 fracturing stages completed in the Neuquén formation, according to data released by NCS Multistage's country manager Luciano Fucello.

Karoon Energy locks in FPSO deal for Santos Basin field in Brazil

7 May 2025

Karoon Energy, an oil and gas exploration and production company, has finalised the acquisition of the FPSO Cidade de Itajaí from Altera & Ocyan for $115mn, with an additional $8mn in transaction costs.

Diesel deals push Brazil closer to Russia

6 May 2025

Brazil’s strategic partnership with Russia has strengthened significantly since the start of Moscow’s full-scale invasion of Ukraine primarily due to Russia's cheap fuel supply, Ukrainian Ambassador to Brazil Andrii Melnyk told RBC-Ukraine.

TotalEnergies to drill new exploration well in Suriname's Block 64

6 May 2025

TotalEnergies is set to begin its exploratory drilling of the Macaw-1 exploration well in Suriname's Block 64 by mid-May 2025, marking the first of five offshore exploration wells planned in the country this year, according to Staatsolie.

Shell reportedly eyes BP takeover in $300bn tie-up

6 May 2025

While Shell is on an upward trajectory, BP’s disappointing share performance has fuelled speculation that it could be targeted for takeover.

Norway’s DOF secures additional vessel contracts for Brazil operations

6 May 2025

DOF Group has obtained new work commitments for two of its subsea vessels in Brazilian waters.

Guyana's oil exports to triple by 2030, S&P projects

6 May 2025

Guyana's oil exports appear set to experience a significant medium- to long-term growth, with annual values projected to triple from US$11bn in 2023 to US$33bn by 2030.

Brazil’s Petrobras Q1 output rises 5.4% to 2.8mn barrels

6 May 2025

Petrobras achieved average oil, liquefied natural gas (LNG) and natural gas production of 2.77mn barrels of oil equivalent per day (boed) in the first quarter of 2025, up 5.4% quarter on quarter.

Golar LNG approves Argentina FLNG project to tap Vaca Muerta gas

6 May 2025

Golar LNG has announced the FID for the 20-year re-deployment charter of its FLNG Hilli Episeyo vessel to Southern Energy S.A. offshore Argentina, marking a significant step in monetising Argentina's vast Vaca Muerta shale gas resources.

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