LatAmOil - Latin America Oil & Gas
Trump revives idea of Venezuela becoming 51st US state amid oil deal
Donald Trump revived his proposal to make Venezuela the 51st US state, suggesting the South American country could eventually elect a governor instead of a president as Washington expands its access to Venezuelan oil
Trump showcases Venezuelan crude as he courts Texas voters
With fuel prices threatening Republican prospects ahead of the November 3 legislative elections, Trump made stops in Corpus Christi and Lubbock to showcase the administration’s efforts to increase oil access and reduce production costs
Venezuela’s Rodríguez criticises Russia’s exclusion from global gas trade
Venezuelan interim President Delcy Rodríguez criticised efforts to restrict Russia’s role in international gas markets, arguing that excluding major producers raises costs for consumers and undermines cooperation across the energy industry
First NABEP Venezuelan oil shipment arrives in Texas for US refiners
The first shipment of Venezuelan crude under an agreement between Washington and North American Blue Energy Partners (NABEP) reached Texas on October 27, with the US government set to sell the oil to refineries operated by ExxonMobil and Citgo
Bolivia opens door to private gas imports as output more than halves in a decade
Bolivia has authorised public and private companies to import natural gas and liquefied natural gas, a policy reversal for a country that once supplied its neighbours and now needs foreign fuel to keep its industry and power plants running.
YPF to submit three RIGI projects worth $44bn in Argentina’s Vaca Muerta
Argentina’s state-controlled oil company YPF plans to apply for incentives under the country’s Large Investment Incentive Regime (RIGI) for three projects worth a combined $44bn in the coming weeks.
Brazil extends diesel subsidy for a month after election
Brazil's government has extended its diesel subsidy by 30 days to shield the domestic fuel market from the effects of the conflict in the Middle East.
OEG secures seven-year offshore chemical tank deal in Brazil
OEG will provide 50 offshore chemical tanks to a large speciality chemicals producer in Brazil under a seven-year contract.
Colombia rations gas as Cartagena LNG terminal faces repairs
Colombia has introduced programmed natural gas rationing from October 27 after a technical problem at the SPEC LNG import terminal in Cartagena reduced available regasification capacity, with repairs expected to take seven to eight days
Latin America energy inflation hits year high amid Iran-US tension
Energy inflation across Latin America and the Caribbean rose to 8.33% year on year in August, the highest reading in 12 months, OLACDE said.
Peru releases $475mn bridge loan to Petroperu
Peru's private investment promotion agency, Proinversión, has disbursed a $475mn bridge loan to state oil company Petroperú, and more than half of the money is earmarked for buying crude and fuel.
Peru's Petroperú finds tenth illegal tap on pipeline
Peru's state oil company Petroperú has found its tenth illegal tap on the Norperuano Pipeline since June, this time in the Lambayeque district of Olmos, where crude leaked onto a rural road beside farmland.
ExxonMobil confirms new Guyana discovery, assesses Ranger development
ExxonMobil has made a new hydrocarbon discovery at the Rockhead-1 exploration well in Guyana's offshore Stabroek Block, potentially strengthening the case for a commercial development centred on the nearby Ranger discovery.
Brazil's Petrobras lowers carbon intensity of sustainable jet fuel
Petrobras (B3: PETR4, NYSE: PBR) has cut the carbon intensity of its sustainable aviation fuel (SAF) by 23.8% after changing how it handles hydrogen at its Duque de Caxias plant in Brazil.
Brazil and Argentina reshape Latin America's oil and gas hierarchy
Latin America's oil and gas industry is undergoing a significant realignment as Brazil consolidates its regional dominance and Argentina accelerates development of its Vaca Muerta shale formation.
Chevron and TotalEnergies test Argentina’s ability to turn shale wealth into export growth
Argentina's emergence as a major international oil and gas producer is entering a decisive phase as Chevron and TotalEnergies prepare multibillion-dollar investments.
YPF, Vista and Tecpetrol drive Argentina corporate debt issuance to $2.72bn in September
Argentine oil companies YPF, Vista Energy and Tecpetrol raised a combined $2.05bn through international debt placements in September 2026, accounting for more than 75% of corporate bond issuance in Argentina.
Trump says Venezuela sent 1mn barrels of oil as a ‘gift’
US President Donald Trump said Venezuela had sent a tanker carrying 1mn barrels of crude oil as a “gift,” as his administration moves to expand American control over the country’s petroleum resources
Brazil overtakes Argentina as Latin America's top gas producer
Brazil displaced Argentina as Latin America's biggest natural gas producer in May and supplied 41% of the region's crude oil.
Brazil ethanol industry backs higher blending after Lula win
Brazil's ethanol producers expect President Luiz Inacio Lula da Silva's re-election to open the way for higher gasoline blending requirements and to keep import duties on ethanol intact.
US appeals court upholds defaulted PDVSA bonds, increasing pressure on Citgo
A US appeals court upheld the validity of Venezuela’s defaulted 2020 oil bonds, strengthening creditors’ claims tied to Citgo Petroleum and potentially increasing pressure on the US-based refiner
Eni eyes year-end approval for Venezuelan oil project targeting 1mn bpd
Eni SpA is moving towards a final investment decision by the end of 2026 on the first phase of a Venezuelan heavy-oil development that could eventually produce 1mn barrels per day
Venezuelan firms install first locally made oil pumping unit
Alvorada Oil & Gas and Dinatel Group have introduced Venezuela’s first domestically manufactured oil pumping unit
Sulzer signs five-year strategic alliance with Venezuela’s PDVSA
Sulzer AG has signed a five-year strategic agreement with Venezuela’s state oil company PDVSA, creating a framework for potential orders across the producer’s operations as the country seeks investment to expand and modernise its energy industry
Putin says Russia ready to extend billions in Venezuela energy investment
Russia is prepared to continue investing in Venezuela’s energy industry, where Russian companies have already committed billions of dollars, President Vladimir Putin said at a gas-exporting nations summit in Moscow
UK warns Trump of economic impact of Argentina’s Falklands measures
British Prime Minister Andy Burnham told US President Donald Trump on October 23 that Argentina’s measures against companies involved in oil exploration around the Falkland Islands could have economic consequences for both countries.
S&P upgrades Golar LNG to B+ on improving Argentina outlook
S&P Global Ratings has upgraded Golar LNG Limited’s credit rating to B+ from B, citing improving economic and financing conditions in Argentina, where the floating liquefied natural gas (FLNG) operator expects to concentrate operations.
Ecuador orders oil and mining projects above 10MW to generate all their own power
Ecuador has told oil and mining projects with electricity demand above 10 megawatts (MW) to install self-generation systems covering 100% of their needs.
TotalEnergies plans to expand oil and gas exploration in Argentina
TotalEnergies plans to broaden oil and gas exploration in Argentina, including offshore prospects in the Malvinas basin, conventional deposits in Tierra del Fuego and dry shale gas in Vaca Muerta.
NABEP lifts Venezuela oil output as it prepares to double active rigs
North American Blue Energy Partners has increased oil production in Venezuela by about 20,000 barrels per day (bpd) since August and plans to double the number of active rigs in its projects
Machado’s homecoming adds pressure on US-backed talks in Venezuela
Venezuelan opposition leader María Corina Machado is willing to meet interim President Delcy Rodríguez, her party’s spokeswoman said, as her return after 10 months in exile adds pressure to negotiations over the country’s political future.
Guyana announces ExxonMobil's Rockhead-1 well discovery, expanding hydrocarbon portfolio
The exploration momentum within Guyana’s prolific Stabroek Block continues to accelerate, with the national government officially confirming the new Rockhead-1 hydrocarbon discovery.
Argentina's Neuquén achieves 31.28% reduction in methane emissions despite oil output surge
Argentina’s Neuquén province has successfully decoupled hydrocarbon production growth from greenhouse gas emissions in the Vaca Muerta shale formation, data from the Ministry of Tourism, Environment and Natural Resources showed.
Chevron targets Argentina's Vaca Muerta with $13.8bn in oil investment
US energy major Chevron has identified Argentina’s Vaca Muerta shale formation as its next hydrocarbon frontier, planning a proposed $13.8bn, 30-year investment plan currently awaiting government approval.
SLB's OneSubsea, oil majors complete all-electric subsea tech project in Brazil
OneSubsea, a joint venture backed by SLB Aker Solutions and Subsea7, has completed a joint industry project in Brazil with TotalEnergies, Equinor, BP and Chevron to develop fully electric subsea production technology.
Peru's Petroperú to save $180mn yearly on Ecuadorian crude
Peru's state oil company Petroperú expects to save as much as $180mn a year by buying crude directly from Ecuador's Petroecuador.
Peru awards oil block 207 to China's SPT Energy
Peru has handed onshore oil block 207, in the country's northwest, to China's SPT Energy.
Cheiron signs Block 192 licence to enter Peru
Cheiron has signed a licence for Block 192, the largest oil concession in Peru by reserves, the energy company announced on October 24.
Mexico's Pemex breaches own rules on no-tender contract spending
Mexico's state oil company Pemex handed out 74% of the money it spent on contracts last year without holding open tenders.
Mexico targets fuel middlemen in illegal trade crackdown
Mexico is weighing legal changes to restrict fuel intermediaries after officials uncovered MXN61.7bn in unexplained fuel transactions in 2025.
Argentina set to overtake Guyana in oil output
Argentina could displace Guyana as South America's third-largest liquids producer by 2028.
Viridien eyes 2027 for Guyana seismic reprocessing results
Viridien (Euronext Paris: VIRI) expects to deliver the first results from its reprocessing of over 10,000 square kilometres of legacy 3D seismic data off Guyana in the opening quarter of 2027.
Guyana's Liza Unity design anchors SBM Offshore's 14-hull FPSO programme
SBM Offshore (AMS: SBMO) will soon have ordered 14 Fast4Ward hulls, building on a design first deployed on the Liza Unity floating production unit off Guyana.
Guyana drilling boosts SLB Latin America revenue
Oilfield services group SLB (NYSE: SLB) posted Latin America revenue of $1.75bn for the third quarter of 2026, a 2% rise on the previous three months, as drilling picked up in Guyana.
Chevron halts funding for Guyana deep-water port studies
Chevron (NYSE: CVX) has stopped paying for studies on a proposed deep-water port in Guyana, a project valued at up to $2bn.
Colombia's Avianca outlook turns negative as fuel costs threaten cash flow
Fitch Ratings has maintained Avianca Group International’s credit ratings at B+ but changed its outlook to Negative, warning that elevated fuel costs and weaker cash generation could strain the Colombian airline’s financial flexibility in 2027
Rubio urges Cubans to work with CIA as Trump renews pressure
US Secretary of State Marco Rubio has urged Cubans seeking political change to cooperate with the Central Intelligence Agency, as President Donald Trump renewed warnings that Washington would turn its attention to Cuba
Cuba restores grid links to two eastern provinces after outage
Cuba reconnected Santiago de Cuba and Guantánamo to its national electricity grid on October 25, about five hours after a transmission-line failure cut power to the two eastern provinces
India's Jamnagar refinery becomes key to US diesel supply
Washington is turning to India's Jamnagar refinery to process heavy Venezuelan crude and add diesel to global markets as US fuel prices rise ahead of mid-term elections.
Bolivia tightens border controls on LPG cylinder smuggling as shortages bite
Bolivia will tighten controls on the illegal diversion and resale of liquefied petroleum gas (LPG) cylinders, which the government blames on price gaps with neighbouring countries, as queues and complaints over supply spread across several regions.
Ecuador's Petroecuador adds Shushufindi well pumping 3,200 bpd
Petroecuador has brought a new well into production in Sucumbíos province, with an initial output of about 3,200 barrels per day (bpd), El Universo reported.
Vale, CSN win shares in Brazil’s first state gas auction
Brazilian mining giant Vale and steelmaker CSN were among the companies awarded natural gas supplies in the country’s first auction of state-owned gas for direct sale to industrial consumers, held by state-run company Pré-Sal Petróleo (PPSA).
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