LatAmOil - Latin America Oil & Gas

Venezuela criticises energy sanctions at OPEC seminar in Vienna

Venezuela's Vice President Delcy Rodriguez has used a major oil industry gathering to condemn international sanctions on energy producers, warning they threaten global supply security and undermine investment in the sector.

Arbitrators reported to have reached decision in ExxonMobil, Hess dispute

The arbitrators in a legal dispute between ExxonMobil and Hess have reportedly reached a decision.

Brazil breaks new oil record, schedules new oil auction as COP30 nears

Brazil recorded its highest oil and natural gas output in May, according to the national regulatory agency’s latest monthly report. This increased hydrocarbon output comes as the county will host the annual US climate summit in November.

Pemex crisis deepens as Mexico prepares $120bn bailout amid debt, refining slump and supplier revolt

Mexico’s state-owned oil company, Petróleos Mexicanos (Pemex), is undergoing significant financial restructuring as it grapples with a complex mix of escalating debt, reduced refining output, and growing supplier unrest.

Ecuador resumes operations at Heavy Crude Oil Pipeline

Ecuador has resumed operations on its Heavy Crude Oil Pipeline, marking a crucial step toward restoring oil exports after severe weather disruptions forced the suspension of crude shipments from the South American nation.

Argentina emerging as dominant regional gas supplier, Wood Mackenzie reports

Argentina is positioning itself to become a dominant regional gas supplier and significant global LNG exporter, with production potentially reaching 180mn cubic feet per day by 2040 under base-case projections, according to Wood Mackenzie.

Colombia's top firms still oil-dependent as Ecopetrol leads profit rankings

Colombia's largest corporations continue to derive their wealth predominantly from traditional energy sectors, with state-owned Ecopetrol leading profit rankings despite declining returns.

Just 111 of the world’s biggest companies are causing $28 trillion worth of climate damage, says study

Just 111 of the world’s largest fossil fuel companies are collectively responsible for an estimated $28 trillion in climate-related economic damage, and just ten of those companies are responsible for half of that total.

Argentina secures $2bn loan to finance key pipeline

Argentina's oil sector has secured a landmark $2bn loan to finance the construction of the Vaca Muerta Oleoducto Sur pipeline and deepwater port in Río Negro.

Brazil’s Petrobras installs new tech on FPSOs

Exail, part of Exail Technologies, has secured an order to supply 30 Quadrans attitude and heading reference systems (AHRS) for Petrobras FPSOs operating offshore Brazil, the company said.

Trump administration grants final window for Venezuelan LPG trade

The US has provided a final grace period for companies to complete liquefied petroleum gas shipments from Venezuela, extending authorisation until September 5 for cargoes loaded before this week's deadline.

Mexican authorities seize 4mn gallons stolen fuel from abandoned trains in Coahuila

Mexican security forces confiscated approximately 4mn gallons of stolen diesel, gasoline and petroleum distillates from two abandoned rail tanker trains near Ramos Arizpe and Saltillo in Coahuila state, bordering Texas, the Associated Press reported.

Argentina seeks to overturn $16.1bn YPF judgement

Argentina's government is mounting an ambitious legal challenge to overturn a $16.1bn judgment related to YPF's nationalisation.

Shell increases gas output forecast for Trinidad's Manatee project

Shell has increased its production forecast for the Manatee gas project offshore Trinidad and Tobago by 10%, providing a crucial boost to the country's energy sector amid recent setbacks from US sanctions.

ExxonMobil relinquishes stake in Guyana's Stabroek Block

ExxonMobil and its partners have fulfilled a key contractual obligation by relinquishing 2,534 km2 of Guyana's prolific Stabroek offshore oil block to the government.

Suriname's new president faces pressure to drive oil and gas sector growth

Suriname has elected Jennifer Geerlings-Simons as its first woman president, positioning the 71-year-old former opposition leader to oversee the country's emerging oil and gas sector amid significant economic expectations.

Mexico inaugurates $350mn natgas combined cycle power plant in San Luis Potosí

Mexican President Claudia Sheinbaum opened the Villa de Reyes Combined Cycle Plant in San Luis Potosí following a $350mn investment, with plans to inaugurate 60 similar facilities during her administration, El Financiero reported.

Brazil’s Petrobras moves billions into Rio refining push

Petrobras plans to allocate BRL33bn ($6bn) to expand refining and petrochemical activities in Rio de Janeiro, with a focus on production and lower-carbon initiatives, the company said.

Brazil’s oil push tests COP30

Brazil’s COP30 president-designate has defended plans to expand oil output while hosting the next UN climate summit, saying production can align with global net-zero targets.

Brazil’s Petrobras seeks Chinese partners for shipyards

Chinese firms have signed a memorandum of understanding with Brazilian shipbuilders EBR, Rio Grande, Mauá, Enseada and Atlântico Sul to develop new partnerships, Petrobras said.

Suriname elects Jennifer Geerlings-Simons as president

Petronas expands Suriname exploration with new well

Petronas has expanded its offshore exploration campaign in Suriname's Block 52 with the addition of the Roystonea-2 appraisal well, designed to further evaluate the oil discovery made at Roystonea-1 in November 2023.

Argentina merges electricity and gas regulators into one

Argentina's government has merged its electricity and gas regulatory bodies into a single National Gas and Electricity Regulatory Entity, creating a unified oversight structure for the country's energy sector.

Brazil's COP30 chief defends oil expansion amid Amazon preservation push

Brazil schedules additional oil auction to address fiscal shortfall