South America – Oil & Gas 360

Gran Tierra Energy Inc. announces new $200 million prepayment and marketing agreement and amendment to reserve-based credit facility

October 24, 2025

(BOE Report)– CALGARY, Alberta, Oct. 24, 2025 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced that it has, through its wholly owned subsidiary Gran Tierra Energy Colombia GmbH, a Swiss limited liability company (the “Seller”), entered into a crude oil sale and purchase agreement and a related prepayment addendum (together, the “Oriente Crude Oil

Petrobras wins approval to drill first exploration well near Amazon River

October 21, 2025

(World Oil)– Brazil’s state-controlled energy company received approval to explore for oil near the mouth of the Amazon River, capping a yearslong standoff with environmental regulators Petroleo Brasileiro SA said in a filing Monday that it received permission to drill one exploratory well in the Foz do Amazonas basin. “The drill rig is at the well site and drilling is

Equinor starts production at Bacalhau, its largest international field

October 17, 2025

(World Oil)– Equinor and its partners have achieved first oil from the Bacalhau field in Brazil’s Santos basin, marking a major milestone for one of the largest deepwater developments in the world. The project represents Equinor’s biggest international offshore investment, with recoverable reserves exceeding 1 billion barrels of oil equivalent (boe) and peak production capacity of 220,000 barrels per day

Halliburton wins Petrobras contracts to enhance deepwater Brazil field performance

October 16, 2025

(World Oil)– Halliburton has been awarded multiple deepwater contracts by Petrobras to deliver vessel stimulation, intelligent completions, and safety valve systems across key offshore fields in Brazil, following a competitive tender process. Under the new agreements, Halliburton will deploy its SmartWell® intelligent completion technology in the Búzios field to enable real-time reservoir management and enhance production optimization. The company will

Maduro offered Venezuela’s oil to Trump to avoid conflict with U.S.

October 10, 2025

(Oil Price) – The administration of Venezuelan leader Nicolás Maduro has offered to open up Venezuela’s oil and gold projects to U.S. companies in an attempt to appease the Trump Administration and avoid conflict, the New York Times reported on Friday, quoting multiple sources close to the discussions. Over several months, officials of the Maduro regime have negotiated with U.S. officials offers of

Ecopetrol targets Brazil’s onshore oil and gas, eyes Petrobras Bahia Terra cluster

September 19, 2025

(World Oil)– Colombian oil producer Ecopetrol SA is pursuing oil and gas deals in Brazil that could include a cluster of onshore Petrobras fields in the northeastern state of Bahia. “We believe that Brazilian onshore has great potential, especially in natural gas,” Jorge Martínez, the head of Ecopetrol’s operations in Brazil, said in an interview from the company’s offices in

PDVSA’s U.S. crown jewel slips through Venezuela’s fingers

September 18, 2025

(Oil Price) – The fate of Citgo, the jewel in the crown of Venezuela’s PDVSA, may be decided by the end of this week. The Venezuelan state-owned oil company may lose its prized asset. The creditors that fueled the process that led to the auction for Citgo may be left with empty hands, as well. The U.S.-based refining company used to

Baker Hughes wins Petrobras contract extension for offshore stimulation vessels

September 18, 2025

(World Oil) – Baker Hughes has secured a multi-year agreement with Petrobras to extend deployment of the Blue Marlin and Blue Orca stimulation vessels, supporting production optimization across Brazil’s offshore pre- and post-salt fields. Awarded through an open tender, the contract also covers chemical supply and services, reinforcing Baker Hughes’ Mature Assets Solutions strategy aimed at maximizing brownfield recovery and extending field life. The Blue Marlin and Blue

Weatherford wins $147 million Petrobras contract for tubular running services

September 17, 2025

(World Oil) – Weatherford International plc has been awarded a three-year, $147 million contract by Petrobras to deliver Tubular Running Services (TRS) across the company’s offshore drilling operations in Brazil. The contract, secured through an open tender, highlights Petrobras’ continued reliance on Weatherford’s portfolio of TRS technologies to improve safety, efficiency, and reliability in well construction. Under the agreement, Weatherford

Exclusive: Parex Resources at EnerCom Denver – The Energy Investment Conference 2025

August 29, 2025

(Oil & Gas 360) – Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technology Series presenter replays for a limited time. With over 10 years of experience, Parex is now the largest independent exploration and production company in Colombia. We are focused on delivering sustainable, conventional oil and gas production and

Trump withholds Venezuelan oil approval for non-U.S. majors

August 25, 2025

(World Oil) – The Trump administration is withholding approval for several Western oil majors seeking to operate in Venezuela, ramping up pressure on Nicolás Maduro’s government even as Chevron Corp. is allowed to work there, according to people familiar with the matter. The pause is focused on non-U.S. firms, leaving companies including Spain’s Repsol SA, Italy’s Eni SpA and France’s Maurel

US resumes imports of Venezuelan oil under new license to Chevron

August 21, 2025

(BOE Report) – Two tankers chartered by Chevron carrying Venezuelan crude reached U.S. waters on Thursday, marking the first U.S. imports of the South American country’s oil following a new license granted by Washington, vessel tracking data showed. The U.S. Treasury Department last month issued a restricted license to Chevron allowing the U.S. company to operate in the OPEC country and export

Premium Content