LatAmOil - Latin America Oil & Gas

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.

ExxonMobil CEO views Guyana oil block as biggest discovery in 15 years

ExxonMobil CEO Darren Woods has highlighted Guyana's offshore Stabroek Block as the oil industry's most significant discovery in the past 15 years, praising the development's exceptional performance during the company's Q2 2025 earnings call.

Solstad lands another Brazil’s Petrobras deal

Solstad Offshore has signed a new four-year agreement with Petrobras for the use of the construction support vessel (CSV) Normand Commander.

Brazil’s Petrobras awards three-year liftboat deal

Brazil turns up the ethanol

Brazil has raised its national ethanol blend requirement in petrol from 27.5% to 30%, effective August 1, leading to immediate impacts on imports, pricing, and supply chains, according to market participants.

Russian diesel surge reshapes Brazil's fuel market

Diesel imports into Brazil rose by 229.7% in Q2 2025 compared to the same period in 2024, driven mainly by increased volumes from Russia, according to Petrobras’ latest production and sales report.

Brazil’s Petrobras picks two more DOF vessels

DOF Group has been awarded two four-year contracts by Petrobras for the deployment of its anchor handling tug supply (AHTS) vessels Skandi Fluminense and Skandi Lifter, the Norwegian offshore supply vessel operator said.

MODEC marks milestones offshore Brazil

MODEC marked two operational milestones this month off Brazil, commemorating 15 years of the FPSO Cidade de Santos MV20 and a decade of the FPSO Cidade de Itaguaí MV26.

Brazil’s Brava Energia output hits record

Brazil’s Brava Energia reported average production of 90.9 thousand barrels of oil equivalent per day in July 2025, marking its highest monthly output to date.