Latin American divestment drive opens door to buyers
Portfolio rebalancing is helping boost M&A activity across the continent
Latin American NOCs were looking to move their portfolios down the cost curve even before the pandemic hit. But extreme market volatility over the past year—combined with the threat posed by the energy transition—has accelerated this trend, creating investment opportunities for many smaller E&P firms. Brazilian state oil company Petrobras is leading divestment activity in the region. The NOC has offloaded around 150 oil and gas fields over the past three years. And the company hopes to sell down its stakes in another 118. Petrobras’ upstream focus is on deepwater pre-salt production, boosted by falling lifting costs. In Q1, the Brazilian operator agreed to offload the Miranga cluster of

Also in this section
28 May 2025
Saudi Arabia and US relations can construct a new ‘field of dreams’, but opportunism may be the new rules of the game
28 May 2025
A shortage of options for the development of port infrastructure to service oil and gas majors is a stumbling block the country needs to overcome to fulfil its potential
27 May 2025
Country is boosting domestic energy production while targeting development of oil and gas reserves in Africa and Asia
27 May 2025
A newly formed joint venture between Saudi Aramco and Sinopec signals rising Gulf interest in the Asian market