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Sheinbaum backs stalled $3.5bn Mexico Pacific LNG terminal
Mexican President Claudia Sheinbaum has backed a $3.5bn liquefied natural gas (LNG) export terminal on the country's Pacific coast that environmental groups have stalled in the courts.
Peru targets 2,657 new oil and gas wells in a decade
Peru anticipates that 2,657 oil and gas wells will be drilled over the coming 10 years as it works to draw more investment into exploration and production.
Trinidad's Heritage Petroleum hunts partners for deeper onshore oil
Heritage Petroleum, the state oil company of Trinidad and Tobago, is looking for contractors to help it explore and possibly develop oil held in deeper formations beneath its onshore acreage.
Yemen’s Houthis hit oil terminal and airport in fresh attacks
Yemen’s Houthis launched attacks on the government-held southeastern province of Hadramout on October 21, targeting a key oil export terminal and the province’s main airport, according to Xinhua.
ExxonMobil eyes Guyana wells as Ranger tiebacks
ExxonMobil (NYSE: XOM) is studying exploration wells close to its Ranger find off Guyana as candidates for linking to a future development there, and the Rockhead well drilled this year is one of them.
Guyana's oil fund hits record $1.89bn in third quarter
Guyana's Natural Resource Fund (NRF) received $1.89bn in petroleum revenue between July and September, its largest quarterly intake on record.
United Oil & Gas secures rigs for Jamaica offshore drilling
United Oil & Gas (AIM: UOG) has found more than 10 suitable drilling rigs for a future exploration campaign on its Walton-Morant licence off Jamaica.
Argentina’s Pampetrol awards additional 30 MW of solar capacity in General Pico
Argentine state-owned energy company Pampetrol has awarded contracts for two new 15-megawatt solar parks in General Pico, La Pampa province, bringing the planned capacity of the photovoltaic complex to 45 MW under a public-private investment scheme
Argentina grants tax incentives to $12.2bn Pluspetrol project in Vaca Muerta
Argentina has approved tax and regulatory incentives for the $12.24bn Bajo del Choique-La Invernada oil and gas project operated by Pluspetrol and state-owned Gas y Petróleo del Neuquén (GyP) in the Vaca Muerta shale formation.
TechnipFMC signs MoU with BP for 20K subsea systems in Gulf of Mexico
TechnipFMC (NYSE: FTI) has signed a memorandum of understanding (MoU) with BP Exploration & Production Inc.
Mexico's Mazatlán port terminal turns to rooftop solar
The Mazatlán Maritime Terminal (TMAZ) in Mexico has installed a solar panel system on one of its warehouses, aiming to bring renewable energy into its operations and cut emissions linked to the electricity used at its facilities.
Fire breaks out on unmanned Pemex platform in Gulf of Mexico, no injuries reported
Mexican state oil company Pemex said a fire broke out on its unmanned satellite platform Abkatún-H, about 73km from Ciudad del Carmen in Campeche state, on October 19.
Pemex resumes job cuts, grade reductions at headquarters
Mexican state oil company Pemex has resumed a restructuring that is eliminating dozens of jobs and lowering the grades and pay of other employees at its Mexico City headquarters and in several departments nationwide, multiple sources told Argus.
Pemex debt falls to lowest since 2014 as refining output surges
Mexican state oil company Pemex has cut its debt by more than $20bn in under two years, to its lowest level since 2014, Chief Executive Juan Carlos Carpio said at President Claudia Sheinbaum's regular press briefing at the National Palace.
Ecuador to export 16.2mn barrels of crude to Peru in $1.65bn deal
Ecuador will export 16.2mn barrels of Oriente crude to Peru after state firms EP Petroecuador and Petroperú awarded two contracts on October 14, with estimated revenue of $1.652bn for the Ecuadorean state.
Chile's Enap buys Pluspetrol Ecuador for $207mn to secure crude for its refineries
Chilean state oil company Enap said its subsidiary Enap Sipetrol S.A. has signed a contract to acquire 100% of Pluspetrol Ecuador, which holds a stake in block 10 in Pastaza province, for a base price of $207mn.
Philippines LNG power costs could surge 143%, IEEFA warns
Rising fuel and equipment costs, combined with a weakening peso, could push the price of power produced from imported liquefied natural gas (LNG) in the Philippines up by 143% or more.
Milei rules out force over Falklands as oil row with Britain escalates
Javier Milei has ruled out using force to recover the Falkland Islands, pledging to pursue Argentina’s sovereignty claim through diplomacy even as Buenos Aires steps up a legal and economic offensive against British-backed oil developments.
Citgo raises 2026 profit outlook to as much as $8bn on refining boom
Citgo Petroleum has increased its 2026 earnings forecast by nearly $2bn as strong fuel margins boost the profitability of the Venezuelan-owned refiner’s US operations
Oilfield service firms expand hiring as Venezuela’s recovery gathers pace
International oilfield service companies are recruiting workers and preparing equipment for Venezuela, signalling early progress in a US-backed effort to revive the country’s oil industry.
Trump’s Venezuela oil pact gives US broad control with few guarantees for Caracas
A deal between the Trump administration and Venezuelan oil businessman Alejandro Betancourt gives Washington a 35% stake in North American Blue Energy Partners (NABEP) and extensive rights over its production
Fitch assigns final BBB+ rating to $1.46bn bond refinancing Angola's Agogo FPSO
The assessment reflects the vessel's long-term charter with Azule Energy, an Eni-backed payment guarantee and protections against operator insolvency, while recognising the operational and collateral risks associated with the transaction.
US refiner Valero posts $6.8bn quarterly profit
Valero Energy Corporation (NYSE: VLO) earned $6.8bn attributable to stockholders in the third quarter of 2026, or $23.89 per share, the Texas-listed refiner announced on October 21.
US introduces new sanctions on Iran-affiliated entities
The US Treasury Department has announced that it has sanctioned shipping agents in Singapore, a Panama-and-Greece-based law firm, the United Arab Emirates (UAE), and numerous cargo vessels.
Martin Midstream posts third-quarter loss, revises guidance
Martin Midstream Partners (Nasdaq: MMLP) raised its full-year 2026 adjusted EBITDA guidance to $94mn after third-quarter earnings beat its internal forecast, the partnership said on October 21.
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