LatAmOil - Latin America Oil & Gas
El Salvador retains lowest fuel prices in Central America despite recent hikes
El Salvador continues to report the lowest fuel prices in Central America despite a recent chain of increases, as authorities defend a policy mix aimed at shielding consumers from global volatility.
Eni inks oil deal with Venezuela to relaunch Orinoco Belt 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.
Mexico's Pemex posts losses in first quarter as crude exports fall sharply
Mexico's state oil company Pemex recorded net losses of MXN46bn ($2.64bn) in the first quarter of 2026, slightly worse than the MXN43.3bn loss in the same period of 2025.
Argentina's YPF ramps up bid to attract international investment
YPF president Horacio Marín used the Bilateral Energy Summit in Houston on May 4 to deliver an ambitious elevator pitch to international investors, following the launch of a $150bn investment programme targeting the Vaca Muerta shale formation.
Bolivia’s YPFB bets $9.8mn on Chilean port upgrade amid fuel supply strain
Bolivia’s state-owned energy group Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) is advancing a $9.8mn investment in northern Chile as part of a broader $50mn infrastructure push.
Global oil buyers turn to Guyana amid Strait of Hormuz crisis, with Chevron leading the charge
Global oil consumers are increasingly looking to Guyana as a stable supply source following the blockade of the Strait of Hormuz, according to a new report from Wood Mackenzie.
Exxon expresses optimism on Venezuela re-entry amid emerging opportunities
Exxon Mobil Corp. has expressed a more upbeat view on Venezuela, with Chief Executive Officer Darren Woods highlighting potential opportunities as the country’s energy sector begins to reopen to global investment
Chevron signals caution on Venezuela investment despite output gains
Chief Executive Officer Mike Wirth said that while there have been “positive development indicators”, uncertainties remain around fiscal conditions and dispute resolution mechanisms
Venezuela targets 1.4mn bpd output as oil sector rebounds
Interim President Delcy Rodríguez said output currently stands at around 1.2mn bpd, reflecting a rebound from declines linked to US sanctions and operational constraints
Venezuela oil recovery constrained by infrastructure decay and political risk
While authorities have moved to open the sector to private participation and revise fiscal terms, structural constraints continue to limit the pace of recovery
Venezuela’s US diluent imports jump to post-sanctions high
Imports reached 120,000 barrels per day (bpd), a 114% increase from the previous month and the highest level recorded since 2018, before sanctions imposed in January 2019 disrupted trade between the two countries
Venezuela signs $2bn energy deals with US firms as ties rebound
The accords were signed at the presidential palace in Caracas in the presence of White House envoy Jarrod Agen, who arrived on the first direct flight from Miami after air links between the two countries resumed
Italy’s Eni restarts Venezuelan oil liftings
The shipments stem from a March agreement involving Cardon IV, a joint venture with Spain’s Repsol that operates the Perla gas field, with the first cargo loaded in April
Argentina's Neuquén tests local silica sand for Vaca Muerta fracking in push to cut costs
ExxonMobil Guyana says Longtail emissions will represent 0.003% of global output with 2030 start
Mexico's Pemex drilling collapses 64% in two years as upstream sector enters managed decline
Mexico's Pemex posts losses in first quarter despite higher oil prices as crude exports fall sharply
Argentina's Vista Energy raises output forecast and advances RIGI plans amid higher oil prices
Argentina’s shale oil producer Vista Energy has increased its 2026 production guidance and confirmed plans to submit projects under the government’s RIGI investment incentive scheme.
Argentina oil firms fund road upgrades to support Vaca Muerta expansion
Eleven of Argentina’s leading hydrocarbon companies have joined a trust fund to finance road infrastructure in Neuquén province.
Parex nears Colombia expansion as Frontera asset sale clears court approval
Colombia’s upstream oil sector is poised for further consolidation after Frontera Energy secured judicial approval for a transaction that would transfer its domestic assets to Canada’s Parex Resources, the company said
Colombia's Ecopetrol partners Parex in $250mn oil field fevelopment deal
Colombia’s state-controlled oil company Ecopetrol has agreed a $250mn investment deal with Canada’s Parex Resources to jointly develop five oil fields, the company said
Cuba faces renewed energy strain as Russian oil relief fades
Cuba is heading back towards severe power shortages as a temporary boost in fuel supplies from Russia runs out, threatening economic activity and daily life
Trump signals US could quickly move to control Cuba
United States President Donald Trump said Washington could “take over” Cuba “almost immediately”, signalling a potential military posture alongside new sanctions targeting the island’s government and its economic network
Venezuela oil exports jump to seven-year high on US, India demand
Venezuela’s crude exports surged in April to their highest level in more than seven years, climbing 14% to 1.23mn barrels per day (bpd) as shipments to the US, India and Europe increased alongside a recovery in output and falling inventories
Brazil boosts output at Búzios field
Petrobras has started oil production at the Búzios 8 project using the P-79 floating production unit in the Búzios field in the Santos Basin, the company said, bringing forward the timeline set in its business plan.
Latin America energy project pipeline tops $1.0 trillion, Brazil leads
Energy developers across Latin America and the Caribbean are advancing projects with a combined estimated capital expenditure of over $1 trillion, with Brazil accounting for nearly half of all developments in the pipeline.
Brazil has no timeline for fossil fuel phase-out roadmap, official says
Brazil has no set date to publish its roadmap for phasing out fossil fuels, a senior environment ministry official said, with the plan handed to the national energy policy council after ministries failed to meet a deadline earlier this year.
OPEC+ core adjusts output as UAE finalises institutional withdrawal
The UAE has formally withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), deepening its strategic pivot away from multilateral energy frameworks
Goldman Sachs raises Latin America inflation forecasts as oil shock filters through region
Goldman Sachs warns Latin America's inflation fight is far from over. As oil prices stay higher for longer, price pressures are spreading beyond fuel — and central banks are running out of room to look the other way.
GeoPark advances drilling and expansion at Vaca Muerta block
GeoPark has begun drilling lateral sections at its Loma Jarillosa Este block in Argentina’s Vaca Muerta shale formation during the first quarter of 2026.
Colombia's Ecopetrol bonds rally faces political test ahead of vote
Ecopetrol’s bond rally is increasingly tied to Colombia’s presidential election outlook, with investors reassessing credit risk as the vote on May 31 approaches
Arrow Exploration profit drops as output rises and spending tightens in Colombia
Arrow Exploration reported lower annual profit despite higher production from its Colombian assets, as weaker earnings and reduced cash balances reflected operational investment through 2025, the company said
Argentina awards LNG pipeline contract to Italian-led group in $530mn bid
Argentina has selected a consortium led by Italy’s Sicim alongside local firm Víctor Contreras to build a key gas pipeline for its first liquefied natural gas project, after submitting the most competitive bid valued at $530mn
Argentina seeks up to $40bn in fresh inflows as RIGI pipeline expands
Argentina is targeting as much as $40bn in additional investment under its incentive regime for large-scale projects, with new proposals expected in the coming weeks, Economy Minister Luis Caputo said
Colombia, Venezuela agree to restore power link in renewed energy cooperation push
Colombia and Venezuela have signed an agreement to reactivate their cross-border electricity interconnection, marking a step forward in bilateral energy integration, Venezuela’s energy ministry said
ArtCap eyes Venezuela oil services as investor interest rebounds
The firm plans to direct capital toward local companies supporting major oil producers, focusing on equipment, maintenance and other expenditures aimed at restoring output after years of underinvestment
Venezuela oil recovery stalls as investment and sanctions relief remain key
Venezuela’s oil sector is beginning a slow reconstruction process with fewer than 30% of its wells active, highlighting the depth of the industry’s decline despite renewed efforts to revive output
US urges private investment as Venezuela oil revival faces funding hurdles
US chargé d’affaires in Caracas, John Barrett, called on Venezuela’s private sector to capitalise on what he described as a “historic opportunity” in the oil industry, as Washington steps up efforts to revive the country’s energy sector
Venezuela signs offshore gas deal with BP as energy opening accelerates
Interim President Delcy Rodríguez oversaw the agreement at Miraflores Palace alongside senior energy officials and BP executives, describing the deal as part of a broader strategy to expand gas output and strengthen the national economy
Blue Water targets Venezuelan oil expansion through Maha acquisition plan
The move would give the company a platform to expand in the country as it engages with investors that hold oil licences but lack the capital to develop them
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