LatAmOil - Latin America Oil & Gas

Brazil plans extra offshore auction to boost revenue, Petrobras mulls Indian oil blocks

The Brazilian government is planning an extra auction this year of stakes in offshore oil areas to raise approximately BRL20bn ($3.4bn) in a "worst case" scenario, according to four sources familiar with the matter

Hess to relinquish 94% of undeveloped territory in Guyana and Suriname

Hess Corporation intends to relinquish 94% of its net undeveloped acreage, primarily in Guyana and Suriname, over the next three years, according to its 2024 annual report.

YPF expresses confidence in Argentina's energy market despite oil price slump

YPF CEO Horacio Marín has expressed confidence in Argentina's energy sector despite the recent downturn in global oil prices, saying that the company's operations in Vaca Muerta remain economically viable even at lower price points.

Managing methane emissions in the Trump era: interview

Beyond an earnest desire to minimise the environmental impact of operations, it also pays for investors to take the issue seriously, Clayton Nash, the director of emissions solutions at Colorado-based Tegre, tells Newsbase.

ExxonMobil begins new drilling operations in Guyana

ExxonMobil has begun appraisal drilling at the Barreleye-2 well in Guyana's prolific Stabroek Block, according to a notice from the country's Maritime Administration Department.

Arrow Exploration expands Colombian output with new horizontal wells

Canadian-based Arrow Exploration has reported a significant boost in its Colombian operations, with current production surpassing 4,500 barrels of oil equivalent per day (boe/d)

PDVSA halts Chevron shipments as US tariffs disrupt Venezuela oil trade

Venezuela’s state-run oil firm PDVSA has revoked multiple permits previously granted to Chevron for exporting crude, marking a significant shift in the country’s oil dealings with the United States

Chevron begins withdrawing from Venezuela as US sanctions deadline nears

Chevron has begun returning oil shipments to Venezuela’s state-owned producer PDVSA, according to Vice President Delcy Rodríguez, as tightening US restrictions complicate the company’s ability to continue operating in the country

Colombia faces fiscal strain amid oil price decline

Colombia's economy is confronting significant challenges due to a sharp decline in oil prices and a weakening peso. The benchmark Brent crude has fallen below $62 per barrel, a four-year low.

Colombian crude prices surge amid US tariff turmoil

Colombian heavy sour crude grades, notably Castilla and Vasconia, have experienced a significant narrowing in their discounts to ICE Brent, reaching levels not seen in over four years. This shift is attributed to the uncertainty US tariffs

Magda Chambriard stays on at Brazil’s Petrobras’ helm for two more years

Brazil’s Petrobras’ board has unanimously approved the reappointment of Magda Chambriard as chief executive, extending her mandate until April 2027.

Diesel price swings shake up Brazil imports

Volatile international diesel prices and a recent price cut by state-owned Petrobras have created new opportunities for fuel imports into Brazil, following a sharp drop in global commodity markets triggered by fresh US trade measures.

Brazil’s Petrobras pushes ahead on Tupi field

Brazil’s Petrobras is close to settling a long-standing tax dispute with Brazil’s oil regulator that would unlock investment plans for the Tupi deep-water field.

Brazil sees risk of global recession as US-China tensions escalate

Colombia faces looming natural gas shortfall as self-sufficiency declines

Colombia’s domestic natural gas reserves may only last another six years unless exploration and production are rapidly scaled up.

Venezuelan oil shipments resume after US tariff disruptions

Venezuelan crude oil exports have resumed after a brief disruption caused by new US tariffs, with tankers once again loading at the country’s primary oil port.

US cancels Shell, BP licences for Venezuela and Trinidad offshore projects

In a significant setback for Trinidad and Tobago's energy ambitions, Prime Minister Stuart Young announced that the United States had revoked crucial OFAC licenses that enabled major cross-border natural gas developments with Venezuela.

Argentina's Vaca Muerta exports natural gas to Brazil via Bolivia in historic first

Argentina's Vaca Muerta shale gas has begun flowing to Brazil via Bolivian pipelines, marking a significant milestone in the country's energy export strategy.

Overseas companies seek to stay in Venezuela amidst US pressure

Spain is actively supporting energy giant Repsol in its efforts to maintain operations in Venezuela as the US moves to tighten restrictions on companies linked to the country’s oil sector, according to Economy Minister Carlos Cuerpo.

Venezuela’s oil sector navigates US sanctions, tariffs

Trump pauses tariffs for 90 days, Colombia still vulnerable

Although oil had been exempted from the 10% tariff on Colombia’s US imports, the Latin American country remains vulnerable.

Mexico explores fracking expansion to cut US gas dependence amidst tense trade relations

Mexico is considering boosting domestic fracking to cut its heavy reliance on US natural gas imports amid tense trade relations

Mexico cuts oil output target, Moodys weighs in on Pemex’ lack of investment

Mexico's finance ministry revised down the country's crude oil production target by 129,000 barrels per day (bpd).

Eni to continue gas production in Venezuela despite US sanctions

Trump's Venezuela oil crackdown roils markets as Chevron exit looms

The Trump administration's renewed pressure campaign on Venezuela is sending shockwaves through global oil markets, just as volatility spikes from sweeping new US tariffs.