LatAmOil - Latin America Oil & Gas

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Oil & Gas

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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SBM Offshore completes mooring of ONE GUYANA production vessel off Guyana

29 May 2025

SBM Offshore has successfully completed the mooring of its FPSO One Guyana vessel, marking a critical milestone in ExxonMobil's fourth oil project in the prolific Stabroek block off Guyana's coast.

Colombia gas reserves drop to critical 5.9-year supply as import dependence looms

29 May 2025

Colombia's natural gas reserves declined to a critical 5.9-year supply horizon in 2024, down from 6.1 years previously, as proven reserves fell 13% to 2.064bn cubic feet. The deterioration contrasts with marginal improvements in petroleum reserves.

Political coalition forged in Suriname, which faces an oil bonanza

29 May 2025

A government coalition has been formed following a close election in Suriname, and it is set to determine leadership over the country's emerging oil wealth.

Chevron ends Venezuelan oil production, investment, exports

29 May 2025

Chevron has ended its oil production contracts in Venezuela, after its US licence to operate there was cancelled.

Chevron ends Venezuelan oil production, investment, exports

29 May 2025

Chevron has ended its oil production contracts in Venezuela, after its US licence to operate there was cancelled.

Citgo auction extended as Venezuela's PDVSA wins key US court battle in $1.5bn debt dispute

28 May 2025

A US federal judge has extended the deadline for bidding on Citgo Petroleum's parent company until June 2, following a significant New York court ruling that has reduced litigation risks surrounding Venezuela's most valuable overseas asset.

Chevron ends operations in Venezuela, hands control to PDVSA

28 May 2025

Chevron has ceased its operational contracts in Venezuela, transferring control of its joint ventures to state oil company PDVSA, while retaining a limited staff presence on the ground, according to people familiar with the matter.

Brazil’s Evolua rebounds with $33mn in annual profit

28 May 2025

Brazilian ethanol trader, Evolua Etanol, reported a net profit of BRL187.8mn ($33mn) for the 2024/25 season, reversing a BRL91.8mn loss the previous year, the company said.

Chevron’s Venezuela exit deepens economic strain as US revokes oil licence

28 May 2025

Chevron’s operations in Venezuela officially ended late Tuesday night, following the expiration of a US-issued licence that had allowed limited engagement with state-run oil company PDVSA.

Mexico's Pemex faces budget crisis as oil production falls 8.8% and restructuring planned

28 May 2025

Pemex could run out of budget before year-end after spending over half its investment allocation in the first quarter whilst oil production continues declining, with crude output falling 8.8% year on year to 1.37mn barrels per day in April.

Ghost ships resurface as Venezuela evades oil sanctions

28 May 2025

A supertanker scrapped in 2017 has resurfaced in international waters under a false identity, highlighting how Venezuela’s oil industry continues to sidestep global sanctions.

Ecopetrol's buy of renewables assets raises financial and operational concerns for the Colombian firm

28 May 2025

Colombia's state-controlled oil company, Ecopetrol, is under scrutiny following its recent acquisition of renewable energy assets from Norway's Statkraft.

Mota-Engil lands Brazil’s Petrobras platform deal

28 May 2025

Mota-Engil’s Brazilian subsidiary, Empresa Construtora do Brasil, has secured a €250mn contract with Petrobras to deliver maintenance and construction services on offshore oil platforms.

Colombia's Ecopetrol's strategic shift raises financial and operational concerns

28 May 2025

Colombia's state-controlled oil company, Ecopetrol, is under scrutiny following its recent acquisition of renewable energy assets from Norway's Statkraft, a move that has sparked debate over the firm's strategic direction and financial health.

Pemex faces budget crisis as oil production falls 8.8% amid spending concerns

28 May 2025

Pemex could run out of budget before year-end after spending over half its investment allocation in the first quarter whilst oil production continues declining, with crude output falling 8.8% year-on-year to 1.37mn barrels daily (bd) in April

Shell hands over Mexican retail operations to Iconn in strategic shift

28 May 2025

In a move reflecting profound changes in Shell's global strategy, the energy multinational has agreed to transfer its service station operations in Mexico to Grupo Iconn, the Monterrey-based company behind Petro Seven and 7-Eleven.

Venezuela's Citgo auction extended as US court ruling reduces litigation risk

28 May 2025

A US federal judge has extended the bidding deadline for the sale of shares in Citgo Petroleum, Venezuela’s most valuable foreign asset, granting prospective buyers until June 2, 2025, to submit revised proposals

Colombia's oil reserves edge up as gas stocks continue to decline

28 May 2025

Colombia's proven oil reserves experienced a modest increase of 0.74% in 2024, reaching 2.035bn barrels, equating to 7.2 years of consumption, according to the National Hydrocarbons Agency (ANH)

New buyout bid for Brazil's Braskem emerges without minority shareholder offer

28 May 2025

Brazilian petrochemical major Braskem's parent company Novonor has received a non-binding proposal from businessman Nelson Tanure that does not include a mandatory offer to minority shareholders, according to sources close to the negotiations

YPF commences welding of key oil pipeline in Argentina's Vaca Muerta

28 May 2025

YPF President and CEO Horacio Marín marked a significant milestone in Argentina's energy ambitions, announcing the commencement of automatic welding on the Vaca Muerta Sur Pipeline.

Brazil’s Petrobras ramps up drilling at Aram block

27 May 2025

Brazil’s Petrobras has started drilling a new well in the Aram block, part of the pre-salt Santos Basin, as it expands exploration in the area.

Venezuela's Maduro vows to honour oil contracts amid Chevron licence expiry

27 May 2025

Venezuela’s Nicolás Maduro pledged to uphold existing agreements with foreign firms, including US oil major Chevron, as the company faces the looming expiry of its operating licence in the country

ExxonMobil-Chevron battle over Guyana oil block heads to arbitration

27 May 2025

The dispute centres on Chevron’s proposed $53bn acquisition of Hess Corporation, which owns a 30% stake in the lucrative Stabroek Block – home to over 11bn barrels of recoverable oil

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