LatAmOil - Latin America Oil & Gas
Brazilian airlines brace for SAF shortage
Brazilian airlines are facing pressure to meet upcoming emissions rules as the country lacks domestic production of sustainable aviation fuel (SAF).
Mexico state oil company retrieves 1.6mn litres of petroleum from Veracruz pipeline breach
State oil company Pemex disclosed ongoing remediation operations addressing a leak in its 30-inch Poza Rica-Madero pipeline at Alamo Temapache, Veracruz, having retrieved 1.602mn litres of hydrocarbons from 10 strategic locations
Canada's Gran Tierra secures $200mn Trafigura prepayment to refinance Colombia debt
Gran Tierra Energy arranged a $200mn crude oil prepayment facility with Trafigura through its Swiss subsidiary Gran Tierra Energy Colombia GmbH, providing $150mn initially and up to $50mn additionally to be repaid via Ecuadorian Oriente crude
Canada's Parex pursues GeoPark with $462mn offer after board rejection
Calgary-based Parex Resources has submitted a $9-per-share all-cash proposal to acquire GeoPark, valuing the Colombia-focused oil producer at $462mn, publicly disclosing the bid on October 29 after the target's board rejected the offer.
Brazil’s Petrobras boosts production in third quarter
Brazilian state oil company Petrobras reported an average output of 3.14mn barrels of oil equivalent per day in the third quarter of 2025, up 7.6% from the second quarter and 16.9% higher than the same period in 2024.
Brazil’s Petrobras lines up new Potiguar well for 2026
Petrobras intends to drill a new deep-water well in Brazil’s Potiguar basin in 2026, portfolio manager for the Equatorial Margin, Mayara Aquino, said at the Offshore Technology Conference (OTC) Brazil in Rio de Janeiro.
Suriname creates dedicated ministry for oil, gas and environment
Colombia, Saudi Arabia sign five-year energy cooperation agreement
Colombia and Saudi Arabia signed a memorandum of understanding on October 29 establishing five-year cooperation on hydrogen, clean energy, carbon capture and storage, and energy efficiency projects
Argentina’s election results poise Milei to attract global oil investment
Argentina’s oil and gas sector is poised for faster growth following President Javier Milei’s sweeping midterm election victory on October 26, which strengthened his La Libertad Avanza party’s position in congress and bolstered his mandate.
Venezuela relations with Trinidad and Tobago deteriorate, gas deals suspended
Venezuela has suspended all gas and energy cooperation agreements with neighbouring Trinidad and Tobago after accusing the Caribbean two-island nation of aligning with the US amid rising regional tensions, Caracas officials said on October 27.
Argentina's YPF completes purchase of stake in Refinor
Argentine national oil company YPF has finalised its acquisition of Hidrocarburos del Norte's stake in Refinor, gaining full control of the operator that manages fuel and gas transportation throughout northern Argentina.
Argentina's YPF stock surges amid foreign investment interest
Argentina's energy sector is experiencing a dramatic re-rating as YPF surged nearly 40% over five days, fueled by foreign investment interest and renewed political momentum following President Javier Milei's resounding victory in midterm elections.
US court could overturn $16.1bn judgement against Argentina in YPF case
A US appeals court has signalled that it could overturn a $16.1bn judgment against Argentina related to the 2012 nationalisation of state oil company YPF, suggesting the case should have been heard in Argentine courts under local law.
Mexico's Pemex posts $3.3bn quarterly loss despite massive government support, production plans
Suriname creates Ministry of Oil, Gas & Environment
Suriname has created a new Ministry of Oil, Gas & Environment which President Jennifer Geerlings-Simons signed on October 22. This is a major reorganisation of energy sector governance as the country approaches its inaugural offshore oil development.
ExxonMobil works to boost Guyanese employment in oil and gas sector
ExxonMobil has invested 1.5mn hours in training Guyanese workers since 2022, as the company prioritises local workforce development in the rapidly expanding oil and gas sector.
UAE's XRG enters talks to invest in Argentina's first major LNG project led by YPF
Abu Dhabi National Oil Company's overseas investment arm, XRG, is in early-stage discussions to invest in Argentina's first large-scale LNG project led by state-owned YPF.
Brazil weighs green shipping corridor in Mercosur
Brazil’s cabotage association Abac plans to establish a sustainable fuel corridor for vessels flying the Brazilian flag within the Mercosur trade bloc.
Brazil’s PRIO expands AI system to boost reliability across offshore units
Brazilian oil producer PRIO has agreed with Shape Digital to deploy Shape Lighthouse, an artificial intelligence-based asset management system, across its offshore platforms.
Brazil retains $4.1bn following partial arbitration win in Tupi field taxation dispute
Brazil secured a partial victory in an international arbitration concerning the Tupi oilfield, enabling the country to retain tax receipts totalling BRL22.2bn ($4.11bn).
Maersk and MDL complete deepwater link in Brazil
Maersk Supply Service, supported by Maritime Developments Ltd (MDL), has finalised the installation of a dynamic riser assembly at Brazil’s Mero field in the Santos Basin.
Venezuela presses Trinidad for details on Exxon’s offshore drilling plans
Venezuela has demanded clarification from Trinidad and Tobago over Exxon Mobil’s upcoming exploration in an ultra-deepwater block near their shared maritime border
Venezuela sustains crude shipments amid US Caribbean deployment
The country, home to the world’s largest oil reserves, has managed to sustain shipments through sanctioned and shadow channels, with Chevron and other firms operating under US exemptions continuing production
Venezuela threatens to end energy pact with Trinidad over US naval drills
Vice President Delcy Rodríguez announced the proposal following a meeting with oil industry officials, describing Trinidad and Tobago’s support for the US manoeuvres and the presence of the USS Gravely as an act of “aggression”
Brazil’s Petrobras mulls workforce reduction while production hits record levels
Petrobras is developing a voluntary dismissal programme targeting approximately 1,000 personnel, while the NOC posted record output levels during the third quarter.
Political turbulence deepens Petroperú’s governance crisis
Peru’s state-owned oil company Petroperú has undergone another top-level restructuring, reflecting long-standing issues of political interference and fragile corporate governance.
Brazil’s Petrobras requests clearance for trio of additional Amazon basin exploration wells
Brazil’s national oil company (NOC) Petrobras has lodged applications with environmental regulator Ibama seeking clearance to drill three contingent wells in block FZA-M-059 within the Foz do Amazonas Basin
Pemex faces mounting debt and production decline despite record government support
Petróleos Mexicanos (Pemex) has entered a new phase of financial strain, as recent data show persistent losses and escalating supplier debt despite record government support.
Argentine oil and gas sector poised for growth as Javier Milei celebrates midterm election triumph
Argentina's oil and gas sector appears poised for further growth as President Javier Milei celebrates a crucial midterm election victory that enables him to advance his business-friendly fiscal agenda.
ExxonMobil Guyana's Longtail project to become country's longest-running development
ExxonMobil Guyana's proposed Longtail project is set to become the company's longest-running offshore development in the Stabroek Block, with a 30-year operational lifespan that will mark a significant shift to gas and condensate production.
Mexican state oil company extends three Borr rig contracts whilst settling overdue payments
Brazil's federal public ministry appeals against Amazon oil auction
Brazil’s federal public prosecutor’s office (MPF) filed an appeal against the court decision allowing an auction of 19 oil blocks near the mouth of the Amazon River, which Petrobras secured earlier this week.
Suriname to use oil revenues to preserve forests, prime minister says
Suriname's President Jennifer Geerlings-Simons outlined plans to leverage anticipated oil revenues to preserve the country's forests and biodiversity, as the nation prepares for its first major offshore petroleum production.
US senator tells Maduro "head to Russia or China" as warships close in on Venezuela
A senior US Republican senator has warned that Venezuelan President Nicolás Maduro's time in power is running out and suggested he leave the country, as military tensions in the Caribbean continue to escalate.
Honduras cuts fuel import spending by 15.4% as renewables reduce thermal generation demand
Mexico's Pemex completes Veracruz pipeline repairs as Queretaro petrol stations resume normal supply
Nearly 190 Pemex-branded petrol stations in Queretaro experienced fuel supply interruptions this week following torrential rainfall that compromised logistics and distribution networks, triggering rationing measures and consumer complaints throughout
Mexico president confirms US businesspeople implicated in illegal fuel trade
US businesspeople are participating in fuel smuggling operations into Mexico, President Claudia Sheinbaum confirmed on October 23, following a Reuters exposé revealing how drug cartels have infiltrated the North American energy sector
Golar agrees to charter FLNG unit to Argentina’s Southern Energy for 20 years
LNG infrastructure and services firm Golar has agreed to charter its MK II floating LNG unit to Argentinian firm Southern Energy for a 20-year term.
Venezuela accuses US of undermining gas deals with Caribbean nations
Rodríguez said Washington was “selling fantasies to a Caribbean government” in an effort to “steal Venezuela’s gas and hand it over"
US sanctions on Russia tighten Brazil’s diesel import options
US sanctions on Russian oil are expected to further constrain Brazil’s diesel imports, as Russian fuel currently makes up about 15% of total inflows.
Karoon Energy cuts output guidance after Brazil operational issues
Australian oil company Karoon Energy reported lower production in the third quarter due to technical problems at its Bauna asset offshore Brazil, though sales volumes were less affected by cargo timings, the company said.
Brazilian NGOs challenge Petrobras drilling
A coalition of Brazilian Non-Governmental Organisations (NGOs) has filed a lawsuit seeking to halt Petrobras’s exploratory drilling off the Amazon coast.
Colombia's Ecopetrol risks losing 15% output as Permian divestment looms
Ecopetrol faces potential loss of 115,000 barrels daily equivalent production should Colombia's government proceed with plans to divest the company's stake in the Permian Basin, representing 15% of total hydrocarbon output.
Brazil’s Petrobras plans Amazon basin production by 2032
Brazil’s state-controlled oil company Petrobras could begin producing oil and gas in the Foz do Amazonas basin within seven years if exploration confirms significant reserves, Chief Executive Magda Chambriard told Reuters.
Namibia-focused explorer Sintana Energy provides update on Challenger acquisition
Canadian-listed oil and natural gas exploration company Sintana Energy Inc. (TSX-V: SEI) on October 21 provided an update on its intended acquisition of Challenger Energy Group.
US court rulings deepen legal battle over Citgo
A New York federal court has ordered Venezuela’s state-owned oil company, PDVSA, to pay $2.86bn to holders of defaulted bonds
Petrobras and Equinor dominate Brazil's pre-salt auction as some majors hold back
Petrobras and Equinor emerged as the leading victors in the auction for offshore pre-salt exploration areas held on October 22, securing one block each individually and partnering on a third.
Petrobras starts drilling exploratory well in Brazil's Amazon River mouth as COP 30 approaches
Brazil’s state-controlled energy giant Petrobras has received long-sought environmental approval and has started to drill an exploratory oil well near the mouth of the Amazon River, in the region known as the Foz do Amazonas Basin.
GeoPark targets output growth as Argentina's Vaca Muerta entry triggers dividend cut
GeoPark outlined a decade-long expansion strategy pivoting towards Argentina's Vaca Muerta formation whilst suspending dividends to fund development, the company stated at its New York Stock Exchange investor presentation.
Venezuela tells Trinidad and Tobago to pay for gas, rejects US mediation
Venezuelan Vice President Delcy Rodríguez warned Trinidad and Tobago that they must pay for Venezuelan gas if they wish to access it
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