LatAmOil - Latin America Oil & Gas

Rockhopper keeps Falklands' Sea Lion oil production target for 2028 despite Argentine sanctions

British oil and gas company Rockhopper Exploration said it remains committed to starting oil production from the Sea Lion field in the Falkland Islands (also known as Malvinas) in the first quarter of 2028, despite Argentina's legal threats .

Argentina’s YPF and Entre Ríos study logistics options for Vaca Muerta sand supplies

Argentina's state-controlled YPF has signed an agreement with Entre Ríos province to study road, rail and river transport options for moving sand used in hydraulic fracturing to the Vaca Muerta shale formation.

Funds face deadline to appeal Argentina’s YPF case to US Supreme Court

Funds involved in the long-running lawsuit over Argentina's renationalisation of oil company YPF face a September 30 deadline to ask the US Supreme Court to review a ruling that overturned a $16.1bn judgment against the country.

Venezuela’s oil revival faces power, technology and talent shortages

Venezuela’s push to attract foreign investment and increase oil production faces major constraints in electricity, technology, supply chains and skilled labour, issues repeatedly highlighted at the Venezuela International Oil and Gas Summit

Venezuela’s oil deals keep billions outside public oversight

Venezuela’s system for managing strategic resources continues to rely on confidential agreements that keep significant flows of money outside conventional public oversight, with oil, gold and food imports forming three prominent channels

US eases some Venezuela energy restrictions with updated OFAC licences

The changes allow companies to advance work on prospective oil, gas, petrochemical and electricity projects, although some activities will still require separate approval from OFAC

Brazil’s Petrobras locks in US LNG supply for 22 years

Brazilian state-controlled oil company Petrobras has signed a 22-year agreement to purchase liquefied natural gas from US exporter Cheniere Marketing, securing about 800,000 tonnes per year under a free-on-board arrangement.

Mexico eyes $7bn oil windfall in 2027, but history of Pemex overspending clouds forecast

Mexico's federal government is projected to book net oil revenue of MXN127bn ($7.1bn) in 2027, its first since 2024, provided it keeps support for state oil company Pemex in check.

Rain keeps Brazilian sugar mills focused on ethanol

Brazilian sugar mills are expected to keep favouring ethanol over sugar through the end of the 2026 harvest, as excessive rainfall in the centre-south limits the amount of cane suitable for producing the sweetener.

Venezuela advances oil deals, puts debt restructuring on hold

Venezuela’s interim government under President Delcy Rodríguez has postponed plans to restructure its external public debt and obligations owed by PDVSA, opting first to focus on oil contracts already signed or under negotiation, says a report.

Brazil's gas market opening up, ANP head says as regulator weighs Petrobras 'gas release'

Brazil is experiencing a broad opening of its natural gas market, the head of oil and gas regulator ANP said, adding the agency is weighing rules that would force dominant supplier state-owned oil company Petrobras.

Brazil tax appeals body rejects $540mn in Petrobras tax credits

Brazil's administrative tax appeals council Carf has rejected BRL2.79bn ($540mn) in tax credits claimed by state-owned oil company Petrobras.

Brazil’s Petrobras signs 22-year LNG supply deal with Cheniere

Petrobras has signed a 22-year agreement to buy liquefied natural gas (LNG) from a unit of US producer Cheniere Energy.

Brazil's September trade surplus more than doubles as oil exports head for record

Brazil posted a trade surplus of $6.45bn in the first four weeks of September, up 151.1% from a year earlier, as crude oil shipments headed for an all-time monthly record.

US reaffirms Guyana support as ruling approaches in Essequibo territorial dispute

The United States has reaffirmed its support for Guyana’s “territorial integrity” as an ICJ ruling on Venezuela’s claim to the oil-rich Essequibo region approaches, despite the sharp improvement in Washington-Caracas relations.

ExxonMobil Guyana to continue output explosion as production surpasses 1bn barrels

Less than seven years after crude first flowed from the Liza field, ExxonMobil and its co-venturers have officially produced their one-billionth barrel of oil from Guyana's prolific Stabroek block.

Argentina to seek UN arbitration over Sea Lion oil project

Argentina will initiate international arbitration against the United Kingdom over the Sea Lion oil project near the Falkland Islands, giving London two weeks to halt the development before Buenos Aires seeks provisional measures.

Rubio again calls Cuba a ‘failed state’, warns of US security threat

Rubio says Washington wants Cuba to change course as pressure deepens

Power deficit cripples Venezuela’s oil heartland of Zulia as infrastructure falters

Daily life in Maracaibo has been rendered unpredictable as Zulia state struggles with a severe electricity shortfall, forcing residents to navigate routine blackouts lasting anywhere from six to 16 hours

How Alejandro Betancourt rebuilt his Venezuelan oil empire

Alejandro Betancourt, a controversial Venezuelan businessman often labeled a "bolichico", has emerged as a key player in the oil sector restructuring promoted by the Donald Trump administration in Venezuela

Colombia's Ecopetrol's Gutiérrez starts tenure as investors weigh oil-sector experience

Joaquín Gutiérrez Caballero began his tenure as Ecopetrol’s president on September 28, with investors expected to focus on how the new chief executive addresses his limited direct experience in the oil and gas industry

Argentina threatens legal action over Falklands Sea Lion oil project

Argentina has threatened to launch international legal proceedings against Britain unless work on the Sea Lion oil project off the Falkland Islands is halted within two weeks, escalating a long-running sovereignty dispute between the two countries.

Argentina’s Chevron plans $14bn investment to triple Vaca Muerta output by 2035

Chevron plans to invest about $13.8bn in Argentina through 2035 to triple its oil production in Vaca Muerta, with the US company’s 100%-owned El Trapial field in Neuquén set to become the centre of the expansion under the country’s RIGI scheme.

Argentina’s YPF targets record 1mn bpd as Vaca Muerta expands

Argentina’s state-controlled oil company YPF expects its crude production to reach 1mn barrels per day for the first time in its history in the coming years, while the country’s oil exports could rise to $18bn.