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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Natural gas expected to save Guyana $1mn per day on electricity costs
Guyana's government claims its natural gas-powered electricity generation project could deliver savings of $1mn daily, representing a transformative shift in the country's energy landscape.
Russia offers to supply LNG and energy technologies to Mexico
Concerns Trump could use Mexico’s energy dependence on US as leverage have caused the country to weigh gas imports from Russia.
OneSubsea wraps up key delivery for Brazil’s Petrobras Búzios field
OneSubsea, a joint venture between SLB, Aker Solutions and Subsea7, has completed delivery of subsea equipment for Petrobras’ Búzios 6-9 project in Brazil’s Santos Basin, the company said.
Colombia's Ecopetrol contracts the Wood Group for $1.2bn Barrancabermeja refinery initiative
Colombia's state-controlled energy company Ecopetrol has awarded John Wood Group a contract for engineering design services supporting its $1.2bn fuel quality enhancement programme at the Barrancabermeja refinery.
Canada's Gran Tierra Energy director to step down from board
Calgary-based Gran Tierra Energy will lose a decade-long board member as Peter Dey announces his departure from the company's board of directors effective at the end of June.
Mexico maritime chamber threatens operations halt over Pemex debt crisis
The Mexican Chamber for the Maritime Transportation Industry (CAMEINTRAM) has warned it may suspend operations due to prolonged payment delays from state oil company Pemex, Mexico Business News reported.
S&P identifies two Guyana oil wells among world's most significant
Two Guyana exploration prospects have secured positions among the world's most significant high-impact wells scheduled for drilling in 2025, according to S&P Global.
Japan's MODEC works to boost Guyana's local content in oil and gas
Japanese marine technology company MODEC voiced its commitment to Guyana's local content requirements, spending $3.4mn on goods and services from Guyanese suppliers in 2024.
Brazil’s Petrobras CEO hopes for extraordinary dividend payout amid fiscal pressures
The CEO at Brazil’ national oil company (NOC) Petrobras, Magda Chambriard, expressed optimism about the company’s ability to distribute extraordinary dividends, a measure the Finance Ministry is considering helping achieve fiscal targets.
Norway’s Miros deploys enhanced oil spill detection system offshore Brazil
Norway-based ocean insights provider Miros has upgraded its oil spill detection monitoring system for offshore Brazil operations in partnership with Brazilian navigation solutions provider Belga Marine.
Presence of foreign firms in oil auction shows confidence in Brazilian state, says Petrobras’ CEO
The CEO at Brazil’s national oil company (NOC) Petrobras, Magda Chambriard, said strong participation by international companies in a controversial oil field auction near the Amazon mouth demonstrates "confidence in the Brazilian state."
PDVSA veteran's role in Spanish contracts sparks probe into Venezuela-Spain oil links
A former top official at Venezuela’s state oil company PDVSA joined a Spanish construction firm partially owned by a senior Socialist party figure just months before a scandal involving high-level contact with the Maduro regime
Venezuela appointed to lead OPEC fund’s ministerial council until 2026
Venezuela has been selected to preside over the Ministerial Council of the OPEC Fund for International Development until 2026, marking a significant step in its diplomatic and energy policy ambitions
Venezuela weighs risks and openings as Iran-Israel tensions threaten global oil stability
While the US reinforces its presence in the region, Caracas is closely watching developments that could reshape oil markets and its own fragile economy
Venezuela and Bolivia reinforce oil and trade ties as currency crisis deepens
Venezuela and Bolivia continue to uphold bilateral agreements across critical sectors including energy, agriculture, education and aviation, according to Venezuelan ambassador César Trómpiz
Global petrochemical downturn may persist until 2028 with permanently reduced margins, says Fitch
Brazil raises $180mn in oil block auction
Brazil raised BRL989mn ($180mn) in signing bonuses from the fifth round of its Permanent Offer of Concessions for oil and gas exploration, the Ministry of Mines and Energy (MME) said. Exploratory investment commitments totalled BRL1.45bn ($265mn).
Karoon lifts spending after Brazil block wins
Karoon Energy has raised its 2025 capital expenditure forecast following its success in Brazil’s latest oil and gas licensing round, the company said.
Petronas and Staatsolie sign production-sharing agreement for Suriname offshore block
Suriname's national oil company Staatsolie has signed a production-sharing contract with Petronas Suriname and Paradise Oil Company for offshore Block 66.
Afreximbank and Suriname establish local content facility worth $5bn
The African Export-Import Bank has announced a partnership with Suriname to establish a $5bn local content facility designed to strengthen the country's emerging oil and gas sector and broader economy.
Peru launches new push for upstream oil and gas investment amid severe exploration deficit
Perupetro is boosting foreign investment in Peru’s oil and gas sector with a new strategy using technical evaluation deals and direct contract talks for untapped areas across several regions.
Ecopetrol chief's partner faces disciplinary trial in Colombia over dual state contracts
Colombia's Attorney General's Office has initiated disciplinary proceedings against Carlos Julian Caicedo Cano, partner of Ecopetrol President Ricardo Roa, over allegations of simultaneous public sector employment violations during 2023.
Brazil’s controversial oil tender proceeds with majors winning tracts
Petrobras, ExxonMobil, Chevron and Shell, CNPC and Equinor were amongst the major oil companies winning tracts in Brazil’s latest offshore auction, which had become controversial.
Uruguay posts solid Q1 growth as refinery rebound lifts output
On a quarterly basis, GDP grew by 0.5%, marking a steady start to the year. A key contributor to the uptick was the reopening of Ancap’s oil refinery, which had been offline for maintenance during the same period last year
Brazil’s controversial oil tender yields nearly BRL1bn in premiums
Brazil's oil and gas regulator ANP disposed of merely 34 of 172 hydrocarbon parcels presented to sector enterprises on June 17, whilst designating the Equatorial Margin as the country's newest fossil fuel exploration territory.
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