LatAmOil - Latin America Oil & Gas

Colombia seeks European capital for energy transition programme

Colombia's Energy Minister Edwin Palma will engage with over 170 European Union companies during meetings in Brussels next week to secure investment for the nation's renewable energy portfolio.

Brazil’s GNLink expands LNG reach with new Bahia unit

GNLink has secured approval from Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP) to begin operations at its first natural gas liquefaction plant in the Northeast.

Brazil’s Petrobras kicks off offshore wind survey work

Petrobras has launched two tenders for geophysical and geotechnical studies to evaluate the feasibility of an offshore wind project off the coast of Rio de Janeiro, the company announced.

Petrobras rejects Sete Brasil’s $5.6bn claim over offshore rigs

Brazil’s Petrobras said it considers the claims brought against it by Sete Brasil to be without merit and intends to take all necessary legal steps to defend its interests, according to a statement.

Argentina's YPF acquires full control of key pipeline following purchase from Tecpetrol

Argentine national oil company YPF has acquired full control of the Loma Campana-Lago Pellegrini pipeline after purchasing Tecpetrol's remaining 15% stake for $15mn.

Brazil’s Petroreconcavo acquires 50% stake in Brava midstream gas assets

Brazil’s Petroreconcavo has signed a purchase and sale agreement with 3R Potiguar, a subsidiary of Brava Energia, to acquire a 50% stake in natural gas midstream infrastructure in Brazil’s Rio Grande do Norte state.

Mexico's petroleum revenues plunge 12.3% in early 2025 amid production challenges

Mexican oil revenues contracted 12.3% during early 2025, marking the steepest decline since the COVID-19 pandemic in 2020, according to Finance Ministry data.

Energy giant Naturgy secures $14.5mn Mexico gas expansion deal

Naturgy has committed MXN276mn to expand gas operations in Aguascalientes, Mexico, marking a significant energy infrastructure investment announced during Governor Tere Jiménez's Spain investment tour.

Shell diverts Brazilian Ostra crude to US Gulf coast in rare move

Two cargoes of Brazilian heavy sweet Ostra crude loaded in May have been diverted to the US Gulf coast for refining, instead of their typical Singapore destination for very-low sulphur fuel oil blending, trading sources said.

IMF warns Latin America against fiscal loosening as trade wars intensify

Trinidad and Tobago explores new gas opportunity with Shell

Trinidad and Tobago's government is intensifying efforts to maximise gas production from the Shell-operated Manatee field as it seeks to address a critical domestic gas shortage.

Venezuela’s Essequibo claim undermined by economic constraints and international pushback

Venezuela’s renewed push to assert authority over the oil-rich Essequibo region, currently under Guyanese control, is facing stiff economic and diplomatic headwinds, despite the Maduro regime’s symbolic election of a governor

Venezuela readies 50% fuel price hike amid oil revenue squeeze

Venezuela is preparing to raise domestic fuel prices by 50% as it braces for a decline in oil revenue following the withdrawal of Chevron and other foreign companies

Exxon posted $4.7bn in Guyana revenue in 2024 as output surged

ExxonMobil’s Guyana unit reported a sharp increase in 2024 revenue to $4.7bn, up from $2.9bn the previous year, reflecting a surge in oil production from the Stabroek Block

Guyana emerges as key driver of ExxonMobil's global growth

ExxonMobil's Business Services Manager John Colling has confirmed that Guyana remains a "very important component" of the company's production strategy for the foreseeable future.

Argentina's Milei and Italy's Meloni forge energy alliance with Eni-YPF LNG deal

Argentine President Javier Milei met with Italian Prime Minister Giorgia Meloni in Rome. The meeting culminated in the signing of a key LNG project between YPF and Eni.

Eni and YPF ink deal giving Argentina LNG a roadmap to FID

Italian energy giant Eni and Argentinian energy firm YPF have inked an agreement for participation in the Argentina LNG project.

Venezuela enlists Chinese, Argentine firms to offset oil output loss after Chevron exit

Venezuela’s state-run oil firm PDVSA has signed at least nine contracts with foreign service companies—including two based in China—as it scrambles to stabilise oil output following the forced withdrawal of Chevron Corp. and other US companies

Brazil’s Petrobras eyes West Africa oil blocks

Brazil’s Petrobras has submitted a declaration of interest for nine offshore exploration blocks in Côte d’Ivoire, the company confirmed.

S&P holds Colombia's Ecopetrol rating at BB+ despite credit profile downgrade

S&P Global Ratings maintained Ecopetrol's international credit rating at BB+ whilst keeping its negative outlook unchanged.

Colombia's Ecopetrol surrenders files to prosecutors, uncovers internal data breaches

Colombia's state-controlled oil company Ecopetrol has submitted comprehensive documentation to the Attorney General's Office regarding its controversial agreement with Washington-based legal firm Covington & Burling LLP

Colombia's Ecopetrol uncovers internal data breaches amid chief executive's discrimination claims

Colombia's state-controlled oil producer has identified dozens of potential security protocol violations that may have compromised confidential corporate data.

Vista Argentina to boost oil production with fresh capital, Fitch projects

Vista Argentina is set to deploy $2.8bn in capital investments over the next three years, with Fitch Ratings projecting the spending will drive production growth in the company's oil operations.

Venezuela urges economic diversification amid oil reliance, vice president says

Venezuelan Vice President Delcy Rodríguez said the country’s economy expanded 9.32% in the first quarter of 2025, but warned that growth remains vulnerable due to continued dependence on oil, gas, and petrochemical revenues.

Venezuela’s oil exports hold steady as China offsets US sanction hit

Venezuelan oil shipments were largely flat in May, as increased flows to China helped offset the drop caused by the expiry of US authorisations that had previously allowed limited exports.