Azevedo & Travassos Nears Acquisition of Petro-Victory Fields in Brazil

Brazilian energy company Azevedo & Travassos Energia (A&T) is expanding its oil and gas production by acquiring Petro-Victory Energy and planning to drill 14 new wells and reactivate over 70 wells in 2025-26, aiming to stabilize oil production at 2,300 barrels per day. Meanwhile, Colombia faces urgent pressure to replenish declining gas reserves, with major projects like Sirius—the largest gas discovery in the country’s history—and developments in the Caribbean basin expected to restore self-sufficiency by 2028-29, although environmental and community consultations pose challenges. A Miami-based blockchain startup, Global Settlement Network, recently facilitated a landmark $75 million tokenized acquisition of a Latin American oil and gas asset, using blockchain technology to streamline cross-border payments and reduce settlement times from weeks to minutes. This innovation addresses significant payment bottlenecks in Latin America’s energy sector, improving the efficiency and cost-effectiveness of international transactions. Additionally, despite some volatility and concerns over supply, oil prices have stabilized amid plans by OPEC+ to increase output, while energy companies continue investing heavily in South American oil drilling, signaling sustained confidence in the region’s energy prospects. These developments highlight a dynamic period of growth, technological innovation, and strategic investment in Latin America's oil and gas industry.