LatAmOil - Latin America Oil & Gas

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.

Tenaris lands major supply deal for Mexico's landmark Trion deepwater project

Mexico fuel shortages ease as Pemex restores Veracruz pipeline after floods

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"

Ecuador implements diesel price reduction, de-escalating protests

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.

Pemex pipeline rupture pollutes Mexican river following deadly floods

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

Peru oil output rises, Talara output shifted to private operators

Peru’s oil sector recorded a strong rebound in September, with national crude output climbing 21.8% year-on-year to 42,400 barrels per day

Peru shifts Talara output to private operators amid Petroperú turmoil

Peru has opened a new phase in its hydrocarbons policy by transferring long-term operations in Talara’s key onshore blocks to private operators

ExxonMobil advances exploration offshore Guyana, with Uaru and Whiptail progressing

ExxonMobil is making substantial progress on its fifth and sixth offshore developments in Guyana, with both the Uaru and Whiptail projects advancing on schedule toward production startup in 2026 and 2027 respectively.

Galp Energia plans to expand frontier exploration in Africa amid strong demand for oil

Portuguese integrated energy company Galp Energia is planning to expand frontier exploration in Africa amid continuing strong demand for fossil fuels in Europe.

Citgo and Venezuela urge court to dismiss Elliott subsidiary’s low bid

The challenge comes as the court works to finalise the sale of PDV Holding, Citgo’s parent company, to compensate up to 15 creditors affected by Venezuela’s debt defaults and expropriations

Gold Reserve challenges Citgo auction over alleged conflict of interest

The company filed a complaint on October 20, alleging that the firms overseeing the sale received roughly $170mn in fees from parties with a vested interest in the outcome