LatAmOil - Latin America Oil & Gas
Cuba’s Díaz-Canel defies US pressure as energy crisis deepens
Cuba’s President Miguel Díaz-Canel said on April 12 that Havana would resist mounting pressure from the US, blaming Washington for deepening the island’s economic and energy crisis
Fracking-linked tremor in Argentina's Neuquén raises 2026 total to 12 events
A 3.1-magnitude earthquake recorded near the town of Añelo in Argentina’s Neuquén province has brought the number of tremors linked to hydraulic fracturing activities in 2026 to 12, according to data from the Observatorio de Sismicidad.
Brazil’s Petrobras in early talks to buy back Mataripe refinery from Abu Dhabi's Mubadala
Brazil's state-owned oil company Petrobras has opened direct negotiations with Abu Dhabi sovereign wealth fund Mubadala Investment Company to repurchase the Mataripe refinery in Brazil's northeast, according to sources with knowledge of the matter.
Brazil ethanol sector ready for record output as government eyes higher gasoline blend
Brazil's ethanol industry said it is prepared to raise production to record levels if the government follows through on plans to increase the mandatory blend of anhydrous ethanol in gasoline from 30% to 32%.
Brazil’s Petrobras, partners to invest $450m in large seismic monitoring project at Mero field
Petrobras and its partners in the Libra Consortium are to invest $450 million in the world's most extensive permanent reservoir monitoring (PRM) system, installing a subsea network of optical sensors across the Mero field in the Santos Basin.
Brazil’s Petrobras approves final investment decision for SEAP I
Petrobras has approved the final investment decision (FID) for its SEAP I deepwater project in the Sergipe-Alagoas Basin, paving the way for the contracting of two floating production platforms with apacity to produce up to 240,000 bpd.
Floatel International wins three-month MSU contract at Equinor's Bacalhau field offshore Brazil
Floatel International has won a firm contract for its Floatel Victory semi-submersible to provide Maintenance and Safety Unit (MSU) services at Equinor Brasil Energia's Bacalhau field offshore Brazil, with operations scheduled to begin in mid-2026.
Brazil braces for oil shock
Brazil is managing the impact of higher fuel costs linked to conflict in the Middle East while seeking to maintain a cycle of interest rate cuts, said the Secretary of Economic Policy of the Ministry of Finance, Débora Freire.
Brazil’s Petrobras backs new offshore push
Petrobras has approved a final investment decision for the SEAP I project in the Sergipe-Alagoas Basin, completing sanctioning of its deepwater development in the region.
Brazil’s Petrobras extends drilling deal
Transocean has secured a contract extension with Petrobras for the Deepwater Corcovado drillship, adding about $445mn to its backlog and extending operations through November 2030.
Argentina set to draw $60bn in Vaca Muerta investments
Argentine energy companies are tapping international debt markets to finance infrastructure expansion in the Vaca Muerta shale basin, with Goldman Sachs projecting total energy sector investment could reach $60bn over the next five years.
Brazil’s Petrobras strikes pre-salt oil
Petrobras said it has identified hydrocarbons in a pre-salt well in the Campos Basin, in block CM-477, about 201 km offshore Rio de Janeiro, confirming the presence through drilling data and initial tests.
Guyana faces mass fuel shortage due to Iran situation
Guyana's emergence as one of the world's fastest-growing oil producers has collided with a harsh operational reality: the country cannot refine its own crude, leaving it vulnerable to fuel shortages even as production hits record levels.
Suriname launches capacity-building programme to fuel energy sector growth
Suriname has launched a three-year capacity-building programme targeting tax and customs officials as the country positions itself to manage incoming oil revenues from its rapidly expanding offshore sector.
Halliburton secures multibillion deal with YPF to expand fracking in Vaca Muerta
Halliburton has secured an exclusive, multibillion-dollar contract from Argentina’s state-run energy company YPF to provide integrated hydraulic fracturing services in the Vaca Muerta shale formation.
US court halts appeals in YPF case after ruling in Argentina’s favour
A US appeals court has suspended all ongoing appeals in the long-running legal dispute over the nationalisation of oil company YPF, following a recent ruling that annulled a prior judgment ordering Argentina to pay $16bn in damages.
Vaca Muerta investment seen reaching $60bn over five years, Goldman Sachs says
Investment in Argentina’s Vaca Muerta shale formation could reach $60bn over the next five years as energy companies ramp up infrastructure development, with much of the financing expected to come from international markets.
Petro rules out Colombia selling energy to Ecuador if Noboa does not eliminate tariffs
Colombia will not resume electricity exports to Ecuador unless tariffs on Colombian goods are lifted, President Gustavo Petro said on April 13, linking energy cooperation to trade conditions as bilateral tensions escalate
Colombia's Valencia pledges $14bn deficit cut and oil revival
Conservative presidential candidate Valencia published her government programme, pledging to cut Colombia's fiscal deficit by COP50 trillion ($14bn), reinstate the fiscal rule suspended by the Petro administration and reverse the oil ban
Brazil pivots to ethanol surge
Brazil’s 2026/27 sugarcane harvest is forecast to rise 3.15% to 677.7mn tonnes, while mills are expected to divert output towards ethanol, cutting sugar production by more than 7%, consultancy Safras & Mercado said.
ConocoPhillips evaluates Venezuela return as oil majors weigh risks
The Houston-based producer said the visit forms part of a broader review of global prospects
Shell targets 2027 start for Trinidad and Venezuela's Loran-Manatee as Dragon discussions proceed
Shell Plc is aiming to begin natural gas production in 2027 at the Loran-Manatee offshore field shared by Venezuela and Trinidad and Tobago, as the company accelerates projects to meet rising regional demand
Repsol to assume direct control of Venezuela operations to drive output growth
Repsol SA will take direct control of its oil operations in Venezuela in the coming days, a move aimed at accelerating production growth and meeting its target of tripling output in the country over the next three years
Venezuela and Shell discuss Dragon gas development in push for energy exports
Venezuela stepped up efforts to expand its gas sector after Vice Minister for Europe and North America Oliver Blanco met with Shell Chairman Peter Costello to explore deeper energy cooperation and new strategic projects
Chevron deepens Orinoco footprint with PDVSA asset swap
Chevron Corp. has agreed to expand its position in Venezuela’s Orinoco Belt through a pair of deals with state oil company PDVSA, sharpening its focus on extra-heavy crude as the country seeks to revive output following sweeping sector reforms
Mexico's Pemex will need private sector to fund fracking as experts warn of infrastructure gap and high costs
Mexico President breaks with Morena orthodoxy on fracking in pragmatic shift that divides ruling party
Argentina awards FLNG installation contracts to CoreMarine and Jumbo Offshore
Argentina has awarded CoreMarine and Jumbo Offshore contracts to transport, install and connect key mooring systems for two floating liquefied natural gas (FLNG) vessels in the Golfo San Matías.
Trump signals potential shift to Cuba policy after Iran conflict, amid oil squeeze
US President Donald Trump said on April 13 that Washington could turn its focus to Cuba once the conflict with Iran is resolved, as the Caribbean nation faces mounting pressure from US oil restrictions
Cuba warns of ‘costs’ of any US attack while urging dialogue amid tensions
Cuba’s president Miguel Díaz-Canel said the island would resist any military action by the United States, while calling for dialogue to avoid escalation, in an interview broadcast on April 12
Brazil’s Petrobras extends Solstad Maritime $56mn contract for Normand Fortress
Solstad Maritime has secured a two-year contract extension with Brazil's state-owned oil company Petrobras for the construction support vessel Normand Fortress, in a deal worth approximately $56mn.
Brazil’s Petrobras strikes hydrocarbons in deep-water Campos Basin pre-salt well
Petrobras has identified hydrocarbons in a pre-salt exploratory well in the Campos Basin in what could represent a new addition to the country's vast deepwater reserves.
Brazil’s Petrobras may raise natural gas prices by 20% in May, distributors warn
Brazil's natural gas distributors fear Petrobras could raise the prices it charges them by around 20% starting in May, driven by the surge in global oil prices following the US-Israeli war on Iran, trade group Abegas said.
Brazil oil reserves climb again
Brazil’s proven oil reserves rose 3.84% in 2025 from a year earlier, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) said, reflecting additions from new projects and revisions to existing fields.
Brazil's proven oil reserves rise nearly 4% in 2025
Brazil's proven oil reserves grew by 3.84% in 2025, year on year, as new development projects, declarations of commerciality, and field revisions added billions of barrels to the national tally.
Cuba, Russia deepen energy ties as fuel shipments arrive amid crisis
Cuba and Russia reaffirmed their strategic partnership during talks in Havana on April 9, as Moscow stepped up oil shipments to the island to ease an ongoing energy crisis, officials said
Baker Hughes wins order to supply gas turbines for Argentina LNG pipeline project
Baker Hughes has secured an order from San Matias Pipeline S.A. to supply gas compression equipment for a major pipeline project in Argentina, aimed at transporting natural gas from the Vaca Muerta formation to support future LNG exports.
Grupo Cuñado expands role in Argentina’s Vaca Muerta infrastructure projects
Spain-based Grupo Cuñado has strengthened its presence in Argentina’s energy sector by supplying key materials for pipeline and storage infrastructure linked to the Vaca Muerta shale formation, the company said.
Oil majors win injunction against Brazil's 12% crude export tax; government appeals
Five major international oil companies operating in Brazil secured a court injunction on April 8 suspending the collection of a 12% crude export tax, dealing a significant blow to the government's effort to fund diesel subsidies.
Brazil’s Petrobras to refund distributors over disputed LPG auction after Lula criticism
Brazil’s state-owned oil company Petrobras has approved refunds to customers to neutralise the price effects of a LPG auction that drew sharp criticism from President Lula and triggered the dismissal of a senior executive.
Brazil’s Petrobras buys back full stake in Campos Basin fields from Petronas for $450mn
Petrobras has signed contracts to acquire Petronas Petróleo Brasil's 50% interests in two Campos Basin oil fields for $450mn, restoring the Brazilian state oil company's full ownership of assets currently producing 55,000 barrels of oil per day.
Seadrill secures $480mn Petrobras contract extension for West Polaris drillship
Seadrill has secured a three-year contract extension for its West Polaris ultra-deepwater drillship with Brazilian state-owned oil company Petrobras, adding approximately $480mn to its backlog.
Colombia's Ecopetrol downgraded by S&P after Colombia rating cut
Ecopetrol saw its credit rating lowered to BB- from BB by Standard & Poor's, following a similar downgrade of Colombia’s sovereign rating, the agency said
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