LatAmOil - Latin America Oil & Gas
Guyana names new oil vessel ‘Essequibo 1899’ as output surge accelerates
Guyana’s President Mohamed Irfaan Ali said in a statement that the country’s next floating production vessel will be named Essequibo 1899
US quietly ships 30,000 barrels to Cuba's private sector as state blockade holds
The United States has exported roughly 30,000 barrels of fuel to Cuba's private sector since early February, Reuters revealed, disclosing for the first time a carve-out that allows private Cuban firms to receive US supplies amid an oil blockade.
Venezuela oil exports reached $18.2bn in 2025
Venezuela’s oil export revenues showed only marginal growth in 2025 despite a sharp rebound late in the year, underscoring continued volatility in the country’s external accounts
Chevron sees rising output in Venezuela but flags legal uncertainty
Speaking at the CERAWeek conference in Houston, Wirth said recent reforms mark progress but fall short of providing the predictability needed to unlock broader capital flows
Spanish probe links alleged Venezuelan oil deal to political financing claims
Spain’s National Court is examining claims that former transport minister José Luis Ábalos discussed a proposed sale of Venezuelan crude at Madrid’s Barajas Airport, according to testimony submitted by businessman Víctor de Aldama
PDVSA rejects Spanish media claims over alleged oil dealings
In a statement, the company said it “categorically and absolutely denies” the report, describing the accusations as lacking any basis in fact
Eni reports $3.3bn in unpaid PDVSA debt amid easing sanctions
The outstanding balance is linked to gas production at the Perla offshore field, a joint venture with Spain’s Repsol and the only active offshore gas project in Venezuela
Venezuela's two most powerful women pitch competing visions to investors
Venezuela's acting president Delcy Rodríguez is due to address an international investment summit in Miami on March 25, a day after opposition leader María Corina Machado made her own appeal to the energy industry at a separate Houston conference.
Equinor doubles down on Brazil gas
Equinor has started drilling production and injection wells for its Raia offshore gas project in Brazil’s Campos Basin, with output scheduled to begin in 2028.
Chile gas system insulated from global shocks by LNG contracts and regional supply mix
Chile’s natural gas market is showing resilience to global energy volatility, supported by long-term pricing structures and diversified import channels that are cushioning the impact of geopolitical tensions abroad.
Losers and winners from the Qatari LNG disruption
While European and Asian importers have been hit hard by the disruption in Qatari LNG to varying degrees, the crisis has both short- and long-term benefits for US exporters and other LNG competitors.
Chevron bets on Milei's reform drive to unlock Argentina's shale potential
Chevron Chief Executive Mike Wirth said Argentina is becoming more attractive for energy investment due to recent economic reforms, while highlighting the growing strategic importance of the Vaca Muerta shale formation.
Russia reaffirms support for Cuba amid US threats
Spanish NGO Open Arms plans solar-powered Cuba mission to keep Children's Hospital lit
Spanish humanitarian organisation Open Arms announced a new aid mission to Cuba, unveiling plans to sail photovoltaic equipment to a children's hospital in Havana as the island endures successive nationwide blackouts under a US fuel blockade
Aid flotilla docks in Havana as US oil blockade deepens Cuba's energy crisis
The lead vessel of an international humanitarian flotilla docked in Havana on March 24, delivering food, medicine, solar panels and bicycles to an island buckling under a US fuel blockade that has left millions without reliable electricity
Colombia's Ecopetrol restores Cartagena refinery power after nine-day outage, probe under way
Colombia's state energy company Ecopetrol said that its Cartagena refinery, known as Reficar, had returned to full operation after a power failure that shut down all processing units for more than a week, the company stated in an official statement
Ecuador caps jet fuel supply after refinery disruption strains aviation sector
Ecuador has imposed temporary restrictions on aviation fuel distribution, forcing airlines to rethink operations as supply constraints ripple across the country’s main airports.
Oil rally offers limited fiscal relief for Colombia ahead of election
A surge in global oil prices is unlikely to resolve Colombia’s fiscal pressures, with structural imbalances expected to force the next administration to pursue tax reforms despite stronger export revenues.
Brazil’s Petrobras bets big on output surge
Trinidad and Tobago energy sector suffers downturn in activity while Middle East presents opportunity
Brazil diesel crisis deepens as importers halt purchases, price gap hits record
Brazil's diesel supply crisis escalated as private fuel importers halted foreign purchases, government subsidies proved insufficient to bridge a record price gap with global markets, and some private refineries hiking prices by as much as 71%.
Petrobras leads oil majors in market value surge but holds back on new diesel price rise
Brazilian state-owned oil company Petrobras has emerged as the world's best-performing major oil company by market capitalisation, even as the company signalled it was in no rush to implement a further diesel price increase despite mounting pressure.
Compañía Mega seeks RIGI approval for $360mn Vaca Muerta infrastructure project
Argentina’s petrochemical firm Compañía Mega has applied to include a $360mn infrastructure project linked to the Vaca Muerta shale formation under the government’s large investment incentive regime.
Pan American Energy targets LNG expansion to boost regional energy integration
Pan American Energy (PAE) is advancing a strategy centred on expanding gas production in Argentina’s Vaca Muerta formation and developing liquefied natural gas (LNG) exports, aiming to strengthen its regional presence and support energy integration
Fitch affirms Vista Energy Argentina at ‘BB-’ with stable outlook on production growth
Fitch Ratings has affirmed Vista Energy Argentina S.A.U.’s long-term foreign and local currency issuer default ratings at ‘BB-’ with a stable outlook, citing expected production growth, strong reserves and solid financial metrics.
Middle East tensions may boost Vaca Muerta drilling while raising Argentina’s LNG import costs
Rising geopolitical tensions in the Middle East could lead to increased oil drilling activity in Argentina’s Vaca Muerta shale formation while also driving up the country’s liquefied natural gas (LNG) import bill, analysts said.
Argentina doubles LPG exports to India amid global supply disruptions
Argentina has more than doubled its liquefied petroleum gas (LPG) shipments to India in the first three months of 2026, as supply shortages linked to conflict in West Asia drive increased demand from the South Asian market.
Argentina faces LNG import challenges as price surge follows Qatar attack
A surge in global liquefied natural gas (LNG) prices following an Iranian attack on Qatar’s Ras Laffan facilities is complicating Argentina’s plans to shift LNG imports to the private sector.
Milei says Argentina can secure Europe’s energy supply
Argentine President Javier Milei said on March 21 that Argentina is positioned to “guarantee Europe’s energy security,” during a speech at the Conservative Political Action Conference (CPAC) in Hungary, where he also met Prime Minister Orbán.
Argentina’s Vaca Muerta faces $20bn annual investment challenge to compete globally
Argentina must secure around $20bn in annual investment to unlock the full potential of its Vaca Muerta shale formation and compete with the United States in global energy markets, according to government officials and industry analysts.
Brazil's farmers face perfect storm at harvest peak as diesel rationing and fertiliser prices bite
Brazil's Rio Grande do Sul diesel crisis deepens as two cities declare emergencies and harvests stall
Two municipalities in Brazil's Rio Grande do Sul state have declared states of emergency over diesel shortages, as nearly 30% of the southern state's cities reported disruptions to essential public services; the crisis now threatens the harvest.
Brazil scrambles to contain fuel price shock as diesel crunch threatens harvest and food chain
Brazil's government launched a national task force to crack down on abusive fuel pricing and stepped up monitoring of diesel supplies, as rising costs from the Middle East conflict began rippling through the country's agricultural sector.
Eni looks to Latin America to boost LNG output
Italian energy giant Eni has plans to ramp up investment in Latin America to boost its LNG output.
Trinidad accelerates refinery revival as Hormuz tensions rattle energy markets
Energy Minister Roodal Moonilal said the government of Prime Minister Kamla Persad-Bissessar is in advanced negotiations with international firms, including Chevron, Tecnimont, Indian Oil Corporation and Oando
Venezuela output seen insufficient to offset Hormuz supply disruption
The South American country produces around 1mn bpd, highlighting a gap that analysts say is too large to close
Cuba restores power after third March blackout as officials warn demand still exceeds supply
Cuba's national electricity grid collapsed for the third time in March on March 21 after an unexpected shutdown of a generating unit at the Nuevitas thermoelectric plant in Camagüey province triggered a cascade failure that cut power
Venezuela’s interim president confirms Obregón at PDVSA helm
The measure, formalised on March 20, also introduces a reshaped board aimed at strengthening operational management at the country’s main industry
Venezuelan transparency portal questioned after activist flags data inconsistencies
The effort followed an announcement by Jorge Rodríguez regarding the creation of a portal to detail oil income and spending
Brazil rate outlook shaken by oil surge
A surge in oil prices and signals from Central Banks triggered a repricing in global bond markets last week, with investors reassessing interest rate paths across major economies.
Oil surge eases Brazil budget pressure
Brazil’s government is expected to benefit from higher oil prices in its upcoming revenue and expenditure report, reducing the likelihood of an immediate budget freeze.
Guyana's Yellowtail could hit 290,000 b/d as ExxonMobil seeks government green light for output boost
Venezuelan bonds gain as US relaxes PDVSA restrictions
The shift was reflected in prices, with the sovereign bond due in 2031 rising to 50.25 cents on the dollar, while PDVSA’s 2027 notes advanced to 35.35 cents
US extends Citgo shield as legal battles over Venezuelan debt drag on
The US Treasury Department has prolonged protections for Citgo Petroleum, temporarily blocking creditors from seizing the Venezuelan-owned refiner as legal disputes tied to more than $20bn in claims continue to unfold
Venezuela’s oil shipments to Cuba tied to expansion of repressive apparatus, report says
According to the study, deliveries peaked at roughly 105,000 barrels a day between 2008 and 2012
Panama Canal operating at full capacity amid Iran conflict
The Iran conflict has pushed the Panama Canal to full capacity handling up to 38 ships per day.
Brazil eyes Bolivia gas for fertilisers
Brazil could use natural gas from Bolivia to expand domestic fertiliser production, Jorge Viana, head of ApexBrasil, said during a business forum in São Paulo.
Brazil races to avert truck strike
Brazil’s government is coordinating measures to limit the impact of rising diesel prices and avoid a truckers’ strike, as pressure builds ahead of an election year, officials and industry groups said.
Brazil ships food and medicines to Cuba via WFP as oil crisis pushes island to the edge
Brazil announced the dispatch of more than 20,000 tonnes of food to Cuba alongside a separate medicines shipment already delivered by air, channelled through the World Food Programme (WFP), as the island faces its most acute humanitarian emergency
Russian diesel tanker breaks Cuba's fuel drought with 200,000-barrel cargo after weeks adrift
A Hong Kong-flagged tanker that had remained stationary in the Atlantic for several weeks resumed navigation towards Cuba carrying an estimated 200,000 barrels of Russian diesel — enough to cover roughly 10 days of national consumption
Washington adds Cuba to Russian oil ban as sanctioned tankers close in on Havana
The US Treasury's Office of Foreign Assets Control added Cuba to a general licence blocking the sale, delivery or offloading of Russian crude and petroleum products, CNBC reported, drawing a direct legal line against the two tankers
Colombia's Ecopetrol faces strike threat as workers' union demands board oust CEO over criminal charges
Colombia's largest oil workers' union threatened to mobilise workers and call a strike unless Ecopetrol's board removes chief executive Ricardo Roa, escalating pressure on the state-controlled driller's leadership amid a widening investigation
Colombia's Ciénaga LNG clears ANI port concession milestone, targeting Q1 2028 start
Ciénaga LNG cleared a critical regulatory hurdle in March after Colombia's Agencia Nacional de Infraestructura (ANI) set the conditions for a port concession covering its planned floating gas import terminal off the Caribbean coast, project director
Brazil fuel strains test supply
Fuel distributors in Brazil’s centre-south have raised concerns about gasoline availability as demand rises and refiners adjust sales strategies, according to market participants.
Brazil clears offshore decommission plan
Brazil’s oil regulator ANP has approved the conceptual decommissioning plan for the FPSO P-43 in the Barracuda field in the Campos Basin, according to regulatory information.
Bolivia taps Brazil as energy lifeline as Paz pitches investor overhaul to Petrobras
Bolivia is seeking to reposition Brazil as a cornerstone economic partner as it attempts to reverse declining hydrocarbon output and attract fresh investment into its struggling energy sector.
Compañía Mega proposes $360mn Vaca Muerta midstream expansion under RIGI framework
Argentinian midstream leader Compañía Mega has submitted a $360mn investment proposal to the ministry of economy to significantly expand its natural gas liquid processing and transport capacity in the Vaca Muerta shale formation.
Pan American Energy ramps up Vaca Muerta output and advances LNG export project
Pan American Energy (PAE) plans to significantly increase oil and gas production in Argentina in 2026, backed by annual investments averaging $1.6bn, as the company expands operations in the Vaca Muerta shale formation.
Colombia oil output slips 3% in January as gas hits record low and imports surge
Colombia's crude oil production dropped 3% year-on-year to 746,400 barrels per day in January 2026, down from 769,800 b/d in the same month of 2025, and fell 0.1% — equivalent to 7,000 fewer barrels — against December 2025
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