Argentina’s Shale Boom Propels It Past Colombia in Oil Output

Jan. 2 (oilprice.com) Argentina, in a surprise development, overtook Colombia to become South America’s fourth-largest oil producer. The country is undergoing a once-in-a-generation unconventional hydrocarbon boom, which began with Buenos Aires nationalizing integrated energy major YPF in 2012. Since then, Argentina’s oil and natural gas output has kept soaring higher, regularly hitting new monthly highs as volumes... Continue Reading →

January 2, 2026 0

Peru opens state-owned Petroperu to private investment after reorganization

Jan. 2 (Reuters) - Peru issued an emergency decree late Wednesday approving the reorganization of state-owned oil firm Petroperu, allowing private investment in key company assets. The decree signed by Peru's President José Jerí says the company could be separated into one or more asset blocks, including the state-of-the-art Talara refinery that the company spent... Continue Reading →

January 2, 2026 0

Petrobras starts production at Búzios 6

Jan. 2, 2026 - Petrobras began oil production from the P-78 floating production, storage and offloading (FPSO) vessel in the Búzios field, in the pre-salt layer of the Santos Basin, this Wednesday, December 31. Búzios 6 (P-78) has the capacity to produce 180,000 barrels of oil and 7.2 million m³ of gas per day. The... Continue Reading →

January 2, 2026 0

Indian Oil buys first Colombian oil under Ecopetrol contract, sources say

Dec 31 (Reuters) - Indian Oil Corp purchased its first Colombian oil under an optional supply deal with state oil company Ecopetrol, two people familiar with the matter said, as India's top refiner seek to diversify from Russian oil. Indian refiners are scouting for crude as tighter U.S. and European Union sanctions on Moscow's producers and... Continue Reading →

December 31, 2025 0

Harbour Energy Takes Operatorship of Zama Field Offshore Mexico

Dec. 31 (OE) U.K.-based oil and gas firm Harbour Energy has been appointed operator of the Zama oil project offshore Mexico. The appointment was agreed by the Zama partners, including Pemex, Grupo Carso and Talos Energy who will have the option to appoint key personnel into Harbour's project team, and subsequently approved by SENER (Mexico's... Continue Reading →

December 31, 2025 0

Petronas Drills First of Four Wells in Block Offshore Suriname

Dec. 29 (OE) Petronas has completed drilling of the Caiman-1 exploration well in Block 52 offshore Suriname, marking the first well in its four-well 2025–2026 drilling campaign in the block. The Caiman-1 well was spudded on July 21, 2025 and safely plugged and abandoned on December 6, 2025. The well delivered encouraging results and represents... Continue Reading →

December 29, 2025 0

Colombia’s Ecopetrol to invest up to $7.2 billion in 2026

Nov 28 (Reuters) - Colombian state-run energy firm Ecopetrol will invest between 22 trillion and 27 trillion pesos ($5.88 billion-$7.21 billion) next year, it said late on Thursday, roughly in line with 2025 as it pledged "disciplined" capital allocation. Ecopetrol plans to drill between 380 and 430 development wells - 95% in Colombia and 5% in... Continue Reading →

November 28, 2025 0

Suriname’s Long-Awaited Oil Boom Finally Takes Shape

Nov. 28 (oilprice.com) After the discovery of oil in Suriname’s territorial waters in January 2020, the government in the capital Paramaribo pitched its hopes on an oil boom matching that of neighboring Guyana. You see, decades of economic mismanagement, excessive spending, and corruption wreaked havoc on the former Dutch colony’s economy. Over the last decade, gross... Continue Reading →

November 28, 2025 0

Eni Targets Frontier Potential in Uruguay With Block OFF-5 Entry

Nov. 26 (oilprice.com) Eni has signed a deal to acquire a 50% interest and operatorship of the offshore exploration Block OFF-5 in Uruguay from Argentina’s YPF, marking a fresh push into one of the Atlantic Margin’s least explored basins. The transaction, announced from San Donato Milanese, will take effect once validated by Uruguayan authorities. The 16,883-km² block... Continue Reading →

November 26, 2025 0

Colombia’s Ecopetrol posts Q3 profit drop of 30%

Nov 13 (Reuters) - Colombia's state oil producer Ecopetrol on Thursday reported a 30% drop in net profit in the third quarter from a year earlier, citing weaker sales volumes and lower crude prices. Net profit landed at 2.56 trillion pesos ($689 million) from 3.65 trillion pesos in the year-ago period, while total sales also fell... Continue Reading →

November 14, 2025 0