LatAmOil - Latin America Oil & Gas
Brazil well results boost Petro Victory outlook
Petro Victory Energy reported drilling results from the SJ-12 well in the São João field in the Barreirinhas Basin, confirming hydrocarbon zones and outlining plans for further testing.
Eni signs deal with Venezuela to relaunch Orinoco Belt oil output
Italian energy company Eni has signed an agreement with Venezuela's state oil company PDVSA to resume crude production at the Junín-5 heavy oil field in the Orinoco Belt, acting President Delcy Rodríguez said on April 28.
Colombia climate conference closes with push to end oil, gas and coal
War and climate crisis collide in Colombia, where over 50 nations are mapping a path away from oil, gas and coal — outside the UN process that has repeatedly failed to act.
Guyana among top targets as oil majors chase ultra-deepwater finds to plug 300bn barrel gap
Colombia's Ecopetrol tops renewable target with 951MW as cost savings mount
Colombia’s state-controlled oil company Ecopetrol expanded its renewable energy capacity to 951MW by the end of 2025, exceeding its 900MW target, as part of efforts to cut costs and emissions while supporting its core hydrocarbons business
Bolivia's Paz dismisses YPFB privatisation claims, vows to rebuild ailing state energy firm
Bolivian President Rodrigo Paz has dismissed allegations that his administration plans to privatise state energy firm Yacimientos Petrolíferos Fiscales Bolivianos (YPFB).
Guyana crude production averages 914,000 bpd in Q1 of 2026
Guyana's crude production averaged 914,000 barrels per day across the first quarter of 2026, according to official government data.
Bolivia mulls tax overhaul to revive gas sector, lure foreign investment
Bolivia is preparing a sweeping reform of its hydrocarbons framework, seeking to reverse a prolonged decline in production by offering clearer rules and competitive taxation to international energy firms.
Petrobras expands Brazil offshore stake
Petrobras has agreed to acquire a 100% interest in part of the Argonauta field from Shell and partners in the Parque das Conchas cluster offshore Brazil, the company said, in a deal valued at about $290mn.
Camuzzi and Vitol sign MoU for LNG project at La Plata port
Argentina’s Camuzzi Gas Inversora has signed a memorandum of understanding with commodities trader Vitol to advance the LNG del Plata project, a liquefied natural gas facility planned at the Port of La Plata.
Argentina announces $14.4bn in energy and petrochemical investments under RIGI
Argentina’s government on April 24 unveiled two new investment projects in the energy and petrochemical sectors worth a combined $14.4bn, as part of its incentive scheme aimed at attracting large-scale capital into strategic industries.
Colombia, Spain extend energy transition pact as financing, policy coordination in focus
Colombia and Spain agreed to prolong a bilateral co-operation framework on energy transition for a further three years, signing the extension in Santa Marta on April 27 during an international conference on moving beyond fossil fuels
UAE withdraws from OPEC following years of frustration
The UAE will officially leave the OPEC alliance in May, driven by mounting frustrations over production quotas that constrained its expanded capacity.
Brazil output lifts Galp profit
Portugal’s Galp Energia reported a 41% rise in first-quarter adjusted core profit, exceeding expectations, supported by higher production in Brazil and stronger crude prices.
Brazil diesel shipments diverted mid-voyage
At least two vessels carrying Russian diesel to Brazil have reversed direction in the Atlantic and are now sailing towards the Suez Canal, indicating sellers may be seeking higher-priced spot sales elsewhere.
Financing gap slows global shift from fossil fuels at Colombia summit
A lack of affordable financing is emerging as a central obstacle to phasing out fossil fuels, delegates said at a global conference in Santa Marta, Colombia, as governments face mounting pressure to turn climate pledges into actionable policies
Cuba’s farm sector strained as fuel shortages deepen under US pressure
Cuba’s agricultural sector is facing mounting disruption as fuel shortages linked to tightened US measures curb production and distribution, leaving farmers struggling to supply food to a population of nearly 10mn people
Venezuela’s hydrocarbons reform seen as first step, with key gaps still to fill
Venezuela’s newly approved Hydrocarbons Law is being viewed by analysts as an initial move toward creating a more appealing framework for investors
Chevron sees progress in Venezuela oil reforms but warns more needed
Mike Wirth said the shift “moves things in a positive direction,” but added it is “probably not enough to bring in the level of investment that would be desirable”
GeoPark output falls QoQ on divestments despite gains in Colombia, Argentina
GeoPark reported average production of 27,249 barrels of oil equivalent per day (boed) in the first quarter of 2026, down from 28,351 boed in the previous quarter
Colombia's Ecopetrol flags Q1 profit of up to $845mn on steady output, revenues
Colombia’s state-controlled oil company Ecopetrol expects first-quarter net profit to reach between $563.1mn and $844.7mn (COP2 trillion–COP3 trillion), supported by stable production and revenues, the company stated
Venezuela moves to streamline oil permits
The initiative follows a meeting between Ecosocialism Minister Alfred Nazaret Ñáñez and Hydrocarbons Minister Paula Henao, where both sides agreed to coordinate efforts to manage environmental liabilities linked to hydrocarbon production
Venezuela debt outlook supported by oil gains as risks persist, Oxford Economics says
Emerging-market debt tied to oil exporters such as Venezuela is proving resilient amid turmoil in the Middle East, buoyed by stronger crude prices and a firmer US dollar, according to Oxford Economics
Amber Energy pledges $11bn Citgo investment pending US approval
Amber Energy has outlined plans to invest as much as $11bn in Citgo Petroleum, contingent on securing US authorisation to take control of the refiner, as the future of one of Venezuela’s most valuable overseas assets hangs in the balance
Repsol, Eni plan gradual gas output increase in Venezuela
Spain’s Repsol and Italy’s Eni are advancing plans to raise natural gas production at Venezuela’s Cardon IV field to 18.27mn cubic metres per day from about 580mn, as part of a broader push to expand the country’s energy output
Venezuela courts Barbados investment to bolster energy output
Venezuela’s acting president, Delcy Rodríguez, has invited Barbados to invest in the South American nation’s oil and gas sector, as part of a push to deepen regional energy integration and raise hydrocarbon production
Argentina secures LNG cargo from Naturgy to reinforce winter gas supply
Argentina has awarded a LNG cargo to Spain’s Naturgy Aprovisionamientos to replenish supplies at its Escobar floating storage and regasification unit (FSRU), as authorities prepare for higher energy demand during colder months
Venezuela oil services firms reactivate idle rigs amid contract overhaul
Oilfield service providers are beginning to mobilise long-idled drilling equipment in Venezuela as a sweeping review of oil and gas contracts fuels expectations of renewed upstream activity following January’s reform of the hydrocarbons law
Argentina authorises multiple firms to export natural gas to Brazil
Argentina has authorised six energy companies to export up to 12.25mn cubic metres per day (Mm³/d) of natural gas to Brazil, highlighting growing regional integration in the energy market and the country’s expanding export capacity.
Bolivia reshuffles YPFB leadership as fuel crisis deepens and imports strain economy
Bolivia’s government has installed a new interim head at state oil firm YPFB, marking the third leadership change in just five months as mounting fuel shortages and quality concerns expose structural weaknesses in the energy sector.
Cuba turns to homegrown technology to unlock heavy crude potential
Cuba is advancing efforts to reduce its reliance on imported fuels by developing domestic technology capable of processing its challenging heavy crude reserves, marking a shift in the island’s energy strategy amid a de facto US oil blockade.
Trafigura defends YPFB fuel contracts amid Bolivia procurement probe
Global commodities trader Trafigura has stated it fully honoured its contractual obligations with Bolivia’s state oil company YPFB, as scrutiny intensifies over fuel procurement practices in the country, Reuters reported.
Argentina and Eni advance LNG export project as Venezuela boosts gas output plans
Italy’s Eni is advancing a major liquefied natural gas (LNG) project in Argentina alongside state-run YPF while also pushing to increase gas production in Venezuela, highlighting its growing role in Latin America’s energy sector.
GeoPark reports quarterly production growth in Argentina and Colombia
Latin American oil and gas producer GeoPark Ltd said its average production reached 27,249 barrels of oil equivalent per day (boed) in the first quarter of 2026, supported by output increases in Argentina and Colombia.
Pluspetrol plans largest Argentine oil project under RIGI regime to date
Pluspetrol SA's $12bn Bajo del Choique-La Invernada project is set to become the largest oil development yet to seek admission into Argentina's Large Investment Incentive Regime.
Brazil lifts ethanol mix
Brazil will raise the share of anhydrous ethanol in gasoline to 32% from 30% in a temporary move aimed at reducing fuel imports, Mines and Energy Minister Alexandre Silveira said in Uberaba, Minas Gerais state.
YPF to invest $150bn in Argentina's Vaca Muerta
Argentine national oil company YPF has unveiled a $150bn investment programme targeting the Vaca Muerta shale formation, positioning the operator to scale production dramatically.
Brazil to begin B20 biodiesel blend tests in May amid push to cut fossil fuel dependence
Brazilian researchers will begin testing the viability of raising the mandated biodiesel blend in diesel fuel to 20% next month, a step the industry says could open the door to a significant expansion of the country's biofuels market.
Brazil proposes expanding oil and gas regulator's powers to cover hydrogen, carbon capture
Brazil's mines and energy ministry is drafting a decree that would significantly broaden the powers of national oil and gas regulator ANP, extending its remit to cover hydrogen, carbon capture and synthetic fuels.
Advent International's Brazilian chemicals unit probed over alleged supply of methanol to crime syndicate
US private equity firm Advent International-owned Caldic, a chemicals distributor, is under criminal and regulatory investigation in Brazil over its alleged role as the primary supplier of methanol to a multibillion-dollar fuel fraud scheme.
British Aviva, climate impact partners back Colombia afforestation to generate carbon credits
A planned afforestation and land restoration initiative in Colombia is set to generate carbon removal credits under a partnership between Climate Impact Partners and Aviva Investors
Colombia, Venezuela agree intelligence sharing in post-Maduro talks
Colombia’s President Gustavo Petro and Venezuela’s acting leader Delcy Rodríguez agreed to deepen intelligence-sharing and expand energy and trade cooperation during talks in Caracas on April 24
Ecopetrol moves on Brazil stake
Ecopetrol has signed a share purchase agreement to acquire about 26% of Brazil-based Brava Energia, marking a step towards a controlling stake, the company said in a press release.
Brazil turns to waste oil for jet fuel
Brazilian refiners are seeking to import used cooking oil (UCO) to support sustainable aviation fuel (SAF) output, citing limits in domestic supply and tracking, according to industry participants and officials.
Colombia's Ecopetrol moves toward Brazil expansion with Brava Energia stake deal
Colombia’s state-run oil company Ecopetrol has agreed to acquire a roughly 26% stake in Brazil’s Brava Energia, marking a strategic push to expand its regional footprint, according to company disclosures reported
54 nations convene in Colombia for world's first fossil fuel phase-out conference, sidelining US, China and Russia
Representatives of 54 countries opened the world's first dedicated conference on transitioning away from fossil fuels in Santa Marta on April 24, with high-level ministerial talks scheduled for April 28–29, as co-hosts Colombia and the Netherlands
Latin America's unfinished battle with inflation leaves the region exposed to the Iran shock
The Middle East conflict has landed on Latin America at an awkward moment. After two years of gradual progress bringing inflation under control, the region's central banks now face the prospect of that effort being undone by an external conflict.
SLB and Baker Hughes eye Latin America deepwater surge as Middle East conflict reshapes oil investment
The world's two largest oilfield services companies said they expected a rise in upstream oil and gas spending.
Rystad sees up to 90,000 b/d upside from debottlenecking at three Guyana Stabroek projects
Rystad Energy has identified up to 90,000 barrels per day of additional production potential across three future Stabroek Block developments in Guyana through debottlenecking.
Mexico's Pemex and Brazil's Petrobras outline collaboration on deepwater exploration
Mexican President Claudia Sheinbaum said on April 26 that she had met with Petrobras leadership, headed by chief executive Magda Chambriard, to discuss establishing a collaboration between the Brazilian state oil company and Pemex.
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