LatAmOil - Latin America Oil & Gas

Colombia's Ecopetrol reports record quarterly output as production surges

Colombian state energy giant Ecopetrol achieved its strongest quarterly production performance in ten years during the second quarter of 2025.

Canada's Frontera divests from Ecuadorian oil blocks

Canadian energy company Frontera Energy has agreed to divest its 50% working interest in Ecuador's Perico and Espejo blocks for CAD 10.74mn ($7.8mn) cash, with potential additional payments of $750,000 contingent on production milestones.

TotalEnergies to sell Argentine shale assets to YPF

TotalEnergies announced that it has agreed to sell its 45% stake in two unconventional oil and gas blocks in Argentina's Vaca Muerta shale formation to Argentina's national oil company YPF for $500mn.

Mexico unveils comprehensive Pemex rescue plan targeting 2027 self-sufficiency

The Mexican government has announced a sweeping rescue programme for heavily indebted state oil producer Pemex, aiming to achieve financial self-sufficiency by 2027 and reduce debt from $99bn to $77.3bn by 2030, AFP and Reuters reported.

IMF ups growth forecasts for Latin America, Caribbean

The International Monetary Fund (IMF) has marginally revised its economic growth forecasts for Latin America and the Caribbean for 2025, reflecting a slightly more optimistic scenario.

Brazilian deepwater yields BP's biggest oil and gas discovery this century

BP has unveiled its most significant oil and gas discovery in 25 years following successful drilling at the Bumerangue prospect in Brazil's deepwater Santos Basin.

Oil firms’ return is lifeline for Venezuela, but Maduro downplays importance

Oxford Economics says the re-entry of Chevron and other international oil companies into Venezuela could stabilise crude output and ease currency pressures.

Six FPSOs cleared for Brazil ops

Axess Group has signed agreements with Seatrium to provide Brazilian Regulatory Compliance (BRC) services for six floating production, storage and offloading (FPSO) units to be deployed offshore Brazil for Petrobras.

BP's Brazil find sparks deepwater race

British Petroleum (BP) has identified what it describes as its largest oil and gas discovery in over two decades in Brazil’s offshore Santos Basin, a development that could influence interest in an upcoming auction of nearby blocks.

Pemex bets on gas and power in risky 10-year push

Mexico’s state-owned energy company, Petróleos Mexicanos (Pemex), has unveiled a comprehensive 10-year strategic plan that combines upstream expansion, new infrastructure, financial restructuring and entry into electricity and gas markets.

Trinidad and Tobago to award ExxonMobil exploration rights to new deepwater blocks

Trinidad and Tobago has agreed to award ExxonMobil exploration rights to seven ultra-deep blocks off its east coast, marking the US oil giant's return to the Caribbean nation after more than two decades, according to senior government officials.

ExxonMobil Guyana assures it will accept court ruling over Chevron-Hess deal

ExxonMobil CEO Darren Woods has expressed disappointment with the recent arbitration ruling that allowed Chevron to complete its $55bn acquisition of Hess Corporation, securing a 30% stake in Guyana's prolific Stabroek Block.

Guyana posts lowest gasoline prices in the Caribbean

Guyana has recorded the Caribbean region's lowest gasoline prices at $0.81 per litre in July, significantly below the global average of $1.19, according to analysis by the Energy Chamber of Trinidad and Tobago.

Gran Tierra acquires GeoPark assets in Ecuadorian oil blocks

Gran Tierra Energy Inc. announced in a press release the acquisition of GeoPark Ecuador S.A.'s and Frontera Energy Colombia Corp's interests in Ecuador's Perico and Espejo Blocks for $15.55mn.

Pan American Energy submits exploration proposal in Argentina's Río Negro

Río Negro province has approved Pan American Energy's private initiative to explore the "Cinco Saltos Sur" area for unconventional hydrocarbons.

Grupo Mexico halts drilling platforms amid Pemex payment delays

Fitch lifts Mexico’s Pemex rating to 'BB' on enhanced government backing

Credit rating agency Fitch has upgraded Mexican state oil producer Petroleos Mexicanos to 'BB' from 'B+', removing its positive watch status and highlighting strengthened government support for the heavily indebted energy company,

Oxford sees oil firms’ return as lifeline for Venezuela’s economy but warns bonds still risky

Oxford Economics says the re-entry of Chevron and other international oil companies into Venezuela could stabilise crude output and ease currency pressures

Chevron, Valero move to restart Venezuelan heavy crude supply after new US licence

Chevron and Valero Energy are advancing talks to reinstate a supply agreement for Venezuelan heavy crude oil destined for US refineries, sources familiar with the matter said, following the issuance of a fresh licence to Chevron

Venezuelan oil exports slip 10% in July as Chevron awaits full US approval

Venezuela’s crude shipments declined nearly 10% in July from the previous month as key partners of state oil company PDVSA awaited expanded authorisations from Washington, according to vessel tracking and internal documents

Venezuela downplays Chevron’s role as US licence limits operations in the country

Venezuelan Minister of Interior Diosdado Cabello dismissed concerns over the future of Chevron’s operations in the country, asserting that the nation is not dependent on the US oil major

Brazil rejects US sanctions over Russian oil imports

Brazil has rejected the imposition of economic sanctions tied to its international trade policy, according to a senior presidential advisor.

Petronas plans Brazil oil field exit

Malaysia’s Petronas is seeking to sell its 50% interest in Brazil’s Tartaruga Verde oil field, targeting proceeds of up to $1bn.

Critical parts delivered for ExxonMobil Guyana's Uaru development

Hunting Subsea Technologies delivered eight titanium stress joints for ExxonMobil's Uaru oil development offshore Guyana, marking another milestone in the rapid expansion of one of the world's fastest-growing deepwater oil regions.

Suriname's GranMorgu project could surpass initial output expectations, TotalEnergies claims

TotalEnergies' flagship GranMorgu project offshore Suriname could exceed its planned production plateau of 220,000 barrels per day, according to CEO Patrick Pouyanné.