LatAmOil - Latin America Oil & Gas

Venezuelan oil shipments edge higher despite operational strains and US pressure

Venezuela lifted crude and fuel exports to roughly 921,000 barrels per day (bpd) in November 2025

Brazil’s Petrobras moves on major refinery expansion

Canada's Canacol seeks creditor-protection in Colombia as restructuring advances

Canacol Energy’s court-appointed monitor requested the Colombian Superintendencia de Sociedades to recognise the company’s Canadian restructuring process under the Companies’ Creditors Arrangement Act

Brazil oil output breaks new record

Brazil’s oil and gas output reached a new peak in October, totalling 5.255mn barrels of oil equivalent per day, according to official data.

Mounting debts and leadership shifts at Petroperú heighten risks for Peru’s oil producers

Peru’s hydrocarbons industry is entering a phase of acute operational and institutional fragility as simultaneous financial pressures on Petroperú and persistent governance instability across sectoral bodies intersect.

British AVEVA eyes expansion into Argentine mining and energy sectors

British industrial software multinational AVEVA is positioning for significant expansion in Argentina, targeting the investment surge generated by the Vaca Muerta shale formation.

Colombia's Ecopetrol to boost Colombia natural-gas supply by 37% from December

Colombian state energy firm Ecopetrol announced it will increase its natural-gas supply for residential and commercial customers by 37% compared with 2025 volumes, by injecting 182 Gbtud into the national grid from December 2025

Colombia lacks measurable fossil fuel phase-out targets, report finds

Colombia's latest nationally determined contributions lack concrete, measurable targets for eliminating fossil fuels despite the country's vocal international advocacy for phasing out coal, oil and gas

Açu banks on Brazil decommissioning demand

Brazil’s Porto do Açu expects steady demand for oil platform decommissioning services despite changes in Petrobras’ capital allocation for the activity.

Brazil’s Petrobras to retire 5 Sergipe fields

Ibama has approved the dismantling of five shallow-water fields in the Sergipe Basin operated by Petrobras. The company had signalled in 2020 that exploration in these areas would cease.

Oil markets eye Venezuela as JPMorgan flags transition risk to global supply

The bank’s latest outlook links renewed speculation over institutional change in Caracas to the US military build-up in the Caribbean and rising geopolitical pressure on Nicolás Maduro

Venezuela condemns US court approval of $5.9bn Citgo sale as “barbaric dispossession”

Venezuela has slammed a United States court decision authorising the sale of oil company Citgo to settle billions of dollars in debt, calling the move "fraudulent" and a violation of its sovereign assets.

Brazil’s Petrobras cuts investments, deprioritises some Equatorial Margin wells on lower crude prices

Petrobras approved a $109bn business plan for 2026-2030, reducing total investments by nearly 2% from its previous five-year plan while lowering dividend forecasts as Brazil's state-owned oil major navigates a scenario of depressed crude prices.

UK’s Centrica signs 15-year LNG supply deal with Honduras

London-headquartered Centrica Energy has reached an agreement to supply LNG to Exodus for Honduras.

Camuzzi Gas to launch $3.9bn LNG export project in Argentina's Buenos Aires Province

Camuzzi Gas Inversora has announced plans for a $3.9bn LNG export project in Buenos Aires Province, capitalising on Argentina’s expanding hydrocarbons sector.

Brazil sees second-generation ethanol as key to energy transition leadership

Second-generation ethanol produced from sugarcane waste represents a promising technology for Brazil's energy transition, though the country must accelerate commercialisation efforts to maintain global leadership in biofuels.

UK’s Acteon secures three-year Petrobras mooring services contract

Acteon has been awarded a three-year contract by Petrobras to deliver quality assurance and traceability services for Brazil’s state-owned oil company's mooring components inventory.

Brazil’s Petrobras, Abu Dhabi’s Mubadala advance negotiations for Bahia refinery repurchase

Negotiations between Petrobras and Abu Dhabi investment fund Mubadala regarding the future of the Mataripe Refinery in Bahia have restarted, with an initial proposal involving the state-owned oil company taking back control of the facility.

Brazil’s Petrobras suggests again naming Tupi oil field after President Lula

Brazil’s state-owned energy major Petrobras’ CEO Magda Chambriard suggested renaming Brazil's second-largest oil field in honour of President Luiz Inácio Lula da Silva, reviving a tribute reversed in 2020 after a court order.

Brazil's PPSA postpones Bacalhau oil field auction to January

Brazil’s state-owned oil and gas operator Pré-sal Petróleo (PPSA) has postponed the auction of oil produced at Equinor's Bacalhau field to 2026, the company linked to the Ministry of Mines and Energy said, without giving further details.

Brazilian prosecutors seek annulment of Petrobras pre-salt environmental licence

Brazil's Federal Public Prosecutor's Office has filed two public civil actions against state-owned energy major Petrobras and federal agencies seeking to annul a preliminary environmental licence for expanded oil exploration in the Santos Basin.

Brazil hits record oil, gas output in October on pre-salt production surge

Brazil produced a record average of 5.255mn barrels of oil and natural gas equivalent per day in October, marking the country's fourth monthly production record this year.

Brazil’s Petrobras resumes $1.5bn refinery expansion suspended by corruption scandal

Brazil’s state-owned energy major Petrobras has resumed a project to double production capacity at its Refinaria Abreu e Lima (Rnest) in the northeast nearly a decade after construction was halted amid corruption investigations.

Chevron confronts higher legal risk in Venezuela after US terror designation

Chevron Corp. and a small group of foreign oil producers are navigating a tougher landscape in Venezuela after Washington labelled the Cartel de los Soles a foreign terrorist organisation

Brazil refinery deal draws major bidders

Energy traders Mercuria Energy Group and Vitol Group are among the shortlisted bidders for a refinery and a network of fuel stations in Argentina that Raizen SA plans to sell, according to people with knowledge of the discussions.

Brazil’s Petrobras gains larger Tupi share

Petrobras has received notice from Brazil’s oil regulator ANP confirming approval of an addendum to the Production Individualisation Agreement for the Tupi shared reservoir in the Santos Basin.

TGS steps up Pelotas Basin push in Brazil

TGS has begun a 3D marine seismic survey in the Pelotas Basin as part of the Pelotas Norte Phase I programme.

Pluspetrol quadruples oil output at Argentine block

Pluspetrol announced on social media that it has quadrupled oil production at the Bajo del Choique – La Invernada block to 20,000 barrels per day in under twelve months.

Colombia's Ecopetrol maintains $7.2bn budget as Petro's exploration freeze bites

Colombian state energy company Ecopetrol approved a 2026 investment plan targeting COP22 trillion-27 trillion ($5.88bn-$7.21bn) to maintain production levels whilst President Gustavo Petro's anti-hydrocarbon policies constrain sectoral growth

Uruguay advances offshore oil exploration permits amid environmental concerns

Uruguay's government is moving to grant environmental permits to four companies for seismic exploration in its territorial waters, the first concrete steps in a controversial new phase of deep-water oil prospecting despite environmental concerns.

Two Guyanese supertankers head to India with crude shipments

Two supertankers have embarked on an 11,000-mile (17,700km) voyage from Guyana to India, signalling a significant shift in global crude flows as US sanctions on Russian oil force Asian refiners to source alternative supplies.

ExxonMobil Guyana crude production spikes in October

ExxonMobil Guyana's offshore operations delivered 841,000 barrels per day in October, according to government data. This was driven by a rapid production ramp-up at the Yellowtail development.

Argentina's Southern Energy inks LNG deal with Germany's SEFE, Camuzzi to build $3.9bn LNG export project

Argentina's Southern Energy consortium announced that it has secured a framework agreement to supply 2mn tonnes of LNG annually to Germany's SEFE over eight years starting in 2027.

Archer and YPF secure five-year drilling contract for Argentina's Vaca Muerta

Norwegian drilling contractor Archer Limited has secured a $600mn five-year contract with Argentine national oil company YPF to deploy seven advanced drilling rigs in Vaca Muerta.

Brazil's Petrobras authorised to import more natural gas from Argentina

Brazil's oil and gas regulator ANP authorised Brazilian state-owned crude major Petrobras to import up to 180mn cubic metres (cbm) of natural gas annually from Argentina for two years.

Venezuela appeals to OPEC for support as tensions with US escalate

Nicolás Maduro has called on OPEC to intervene as Venezuela faces what he describes as “growing and illegal threats” from the United States and President Donald Trump

Guyana adopts spot sales for crude from Yellowtail project

Arrow Exploration reports strong initial output from Colombia’s Mateguafa M-6 well

Arrow Exploration Corp. reported successful drilling and early production results from its Mateguafa 6 appraisal well on the Tapir Block in Colombia’s Llanos Basin, where the company holds a 50% beneficial interest

Colombia’s Ecopetrol sets 2026 capex at up to $7.2bn

Colombia’s state-controlled oil producer Ecopetrol said it will invest between COP22 trillion and COP27 trillion in 2026, equivalent to $5.88bn to $7.21bn, keeping spending broadly in line with the 2025 programme

Colombia penalises Ecopetrol CEO for breach of Petro campaign spending rules

Colombia’s electoral authority has fined officials from President Gustavo Petro’s 2022 campaign — including Ricardo Roa, now CEO of state-controlled oil company Ecopetrol — for exceeding legal spending limits

Venezuela’s Vice President calls for cooperation in energy sector

Her remarks came as she criticised the US Southern Command’s military presence, arguing that disputes over energy assets should be resolved through legal frameworks rather than force

PDVSA Ad Hoc moves to appeal US court’s approval of $5.9bn Citgo bid

Venezuela’s PDVSA Ad Hoc Board sharply criticised a ruling by US Judge Leonard Stark that endorsed a $5.9bn bid for PDV Holding, the parent company of Citgo Petroleum

Mexico’s Pemex records lowest output since Morena took office in 2018

Pemex's crude output has continued struggling through 2025, marking the lowest annual production levels since 2018 and underscoring structural and operational pressures facing Mexico's state-owned oil company, Mexico Business News reported.

Mexico’s Pemex natural gas output rebounds in 2025 but remains below previous highs

Pemex's natural gas output continued climbing through 2025, marking a gradual recovery following last year's pronounced decline, although production remains below levels seen during most of the previous administration, Mexico Business News reported

Brazil ups renewable bunker supply

Petrobras supplied three Transpetro vessels with bunker fuel containing 24% renewable material between November 10 and 17, the company said.

Shell Brazil expands Santos Basin footprint

Shell Brazil has signed the concession agreements awarded in the fifth round of the ANP’s Permanent Offer, strengthening its position in the Santos Basin and expanding its deepwater portfolio.

Brazil targets fuel sector in tax and laundering probe

Brazilian federal and state authorities carried out a coordinated operation on to break up an alleged tax-evasion and money-laundering network linked to the fuel sector, officials said.

Venezuela’s oil will be valuable in the West for years to come, says leading analyst

Venezuela’s heavy crude production and exports are being scrutinised by analysts and politicians, amidst questions of whether the administration of Donald Trump will attempt regime change in the South American country.