LatAmOil - Latin America Oil & Gas
Lechería energy hub plan runs up against Venezuela’s infrastructure strains
The initiative, led by the mayor’s office in Urbaneja, draws on recent changes to the Hydrocarbons Law that open the door to greater private and overseas participation in the sector
Brazil’s Petrobras beats output targets
Petrobras said its oil production averaged 2.40mn barrels per day in 2025, surpassing the upper limit of the target set in its 2025–2029 business plan.
Russia says US yet to free crew from seized tanker in Atlantic
The US has yet to release two Russian sailors detained after American forces seized a Russian-flagged oil tanker in the North Atlantic this month, Russia’s foreign minister said
Portugal’s Galp doubles down on upstream in Brazil
Portugal’s Galp will prioritise expanding oil and gas output in Brazil and Namibia while considering a stock market listing of parts of its downstream business within two years, co-chief executive João Diogo Marques da Silva said.
Brazil’s Petrobras orders new gas fleet
Brazil’s state-controlled oil company Petrobras and its logistics arm Transpetro have signed contracts worth BRL2.8bn ($521mn) for the construction of gas carriers, barges and pushers.
Venezuela scraps fuel import taxes under Delcy Rodríguez decree
Venezuela’s government has waived value-added tax, import duties and customs regime fees on imports and domestic sales of hydrocarbon-derived fuels, extending relief to state-run, mixed-capital and private companies
Colombia continues to weigh Venezuelan gas imports as sanctions outlook shifts
Colombia’s state-owned energy company Ecopetrol is taking preliminary steps to assess the resumption of natural gas imports from Venezuela, anticipating potential easing of US sanctions
Argentina's oil and gas sector faces positive 2026 outlook amid Vaca Muerta growth potential
Argentina's Vaca Muerta basin is positioned for exponential growth in 2026 as improved political stability and reduced country risk converge with technological breakthroughs.
Slim consolidates position among Mexico's top four private oil producers
Carlos Slim's Grupo Carso has strengthened its standing as one of Mexico's four most productive private petroleum operators following the acquisition of Fieldwood México, positioning the conglomerate to control significant hydrocarbon production.
Trinidad refinery restart may hinge on Venezuelan crude imports, industry body says
A potential restart of Trinidad and Tobago's mothballed Pointe-a-Pierre refinery could depend on renewed access to Venezuelan crude oil supplies, the Energy Chamber of Trinidad and Tobago has said.
Predator Oil & Gas raises $6mn for Trinidad, Morocco operations
Predator Oil & Gas Holdings has raised GBP4.5mn ($6mn) before expenses through a share placement to fund drilling operations in Trinidad and advance its Moroccan gas projects, the Jersey-based company said.
Mexican billionaire Slim consolidates Gulf of Mexico oil assets in $600mn Lukoil deal
Mexican billionaire Carlos Slim's Grupo Carso will acquire complete ownership of two Gulf of Mexico oil fields after agreeing to purchase Russian company Lukoil's remaining stake in a transaction valued at $600mn.
Chinese refineries face end of ultra-cheap Venezuelan crude era
US oil services firms eye entry to Venezuela
SLB, the world’s largest oilfield services firm, is in talks to expand its operations in Venezuela and is positioned to compete for early contracts under a plan by US President Donald Trump to revive the country’s oil sector.
Suriname deepens and widens main river channel to absorb offshore oil logistics surge
Suriname is advancing a major upgrade of its principal inland navigation corridor as part of a broader effort to accommodate rising industrial and maritime demand linked to offshore hydrocarbons development.
Brazil’s Petrobras backs first biorefinery
Petrobras plans to invest BRL6bn ($1.11bn) to convert its Riograndense refinery in southern Brazil into the country’s first biorefinery, company president Magda Chambriard said.
Abu Dhabi's ADNOC weighs Venezuelan gas entry as it expands global portfolio
Abu Dhabi National Oil Co. (ADNOC) is assessing potential opportunities in Venezuela’s natural gas sector as the United Arab Emirates’ state energy giant looks to expand its international gas footprint
Trinidad and Tobago faces 40% natural gas supply shortfall, energy chief warns
Trinidad and Tobago is producing around 2.6bn cubic feet of natural gas per day (73.6mn cubic metres), creating a supply gap of approximately 40% against downstream industrial demand, the head of the country's Energy Chamber said.
Trinidad's NGC signs gas supply deal with EOG Resources
Trinidad and Tobago's National Gas Company has signed a natural gas supply agreement with EOG Resources Trinidad Limited, the state-owned firm said in a press release, as it seeks to bolster domestic energy supplies.
Guyana faces new oil and gas reality amid US action in Venezuela
Guyana's oil and gas sector faces a renewed economic landscape following the capture of Venezuelan President Nicolás Maduro by US forces.
Norwegian firm wins contract for ExxonMobil oil platform installation offshore Guyana
Norwegian marine services company DOF Group has secured a major contract to install mooring equipment for a large floating oil platform off the coast of Guyana in South America, Offshore Engineer and energy-pedia news reported.
Mexico petroleum exports to Cuba hit $558mn in 2025
YPF divests from two conventional assets to focus on Vaca Muerta shale production
Argentine national oil company YPF has signed agreements to divest two conventional production areas as part of its strategic pivot toward Vaca Muerta, capitalising on Argentina's record-breaking oil output driven by activity in the shale formation.
MidOcean Energy considers stake in Argentina LNG
Discussions remain in the preliminary stage and MidOcean Energy could still back out.
Venezuela signs first-ever LPG export contract under interim government
Interim president Delcy Rodríguez announced the agreement during an event broadcast on state television
India’s MRPL weighs Venezuelan crude as Russian oil imports halt
The company is no longer processing Russian barrels and is reviewing alternative sources that meet both regulatory and commercial requirements
Oil majors seek more control as Venezuela weighs energy revival
International oil companies are urging swift action from Washington and Caracas to restart Venezuela’s oil industry, making clear that any new investment hinges on greater control over the barrels they produce
Brazil biofuel sector eyes $18bn investments by 2035 on new law
Brazil's biofuel industry is expected to invest BRL106.7bn ($18bn) in expanding production capacity over the next decade, driven by incentives in the country's Future Fuel Law, according to estimates from the Energy Research Company.
Brazil’s Batista brothers eye Venezuela oil projects as political transition unfolds
Brazilian billionaire Joesley Batista and his family are positioning themselves to enter Venezuela's oil sector through existing stakes and potential new investments as the country undergoes political transition, according to sources.
Conoco's long shadow in Venezuela
ConocoPhillips is weighing calls from US President Donald Trump for American oil producers to commit large-scale investment to Venezuela, a country where the company has a long record of political risk, financial disputes and personal danger.
Venezuela oil flows hit hard stop
Venezuela’s overseas oil shipments have fallen sharply since US forces removed President Nicolás Maduro in early January, disrupting routes to Asia and reshaping trade flows for buyers including China.
Vitol tests China demand with narrower discounts on Venezuelan crude
Foreign oil trader Vitol Group has begun offering Venezuelan crude cargoes to Chinese buyers at slimmer discounts than seen in recent years, signalling renewed confidence in Asian demand for the South American nation’s heavy oil
Canada's Parex Resources' output in Colombia rises on new wells in late 2025
Canada-based Parex Resources increased its oil and natural gas production in Colombia in the fourth quarter of 2025, supported by new wells brought online in the Llanos basin
China moves to protect Venezuelan loan portfolio as Washington asserts control
China has begun approaching both Venezuelan officials and the United States government to safeguard repayment of substantial loans to Caracas, as the South American nation undergoes dramatic political change following Nicolás Maduro's ouster.
US New Fortress Energy ties Brazil gas terminal restart to debt restructuring
US liquefied natural gas (LNG) infrastructure company New Fortress Energy has submitted two alternative timelines to restart its idled Brazilian regasification unit, with the schedule contingent on progress resolving the company's debt pressures.
Support vessels depart for Brazil’s Campos Basin Raia gas pipeline construction
Two offshore support vessels contracted by Saipem have cleared customs in Rio de Janeiro and are heading to the Campos Basin to begin construction of the Raia project gas pipeline, one of Brazil's largest natural gas developments.
Brazil’s Petrobras surpasses production targets, sets records in 2025
Brazil's state-owned oil company Petrobras exceeded its annual production targets and set historical records across multiple metrics in 2025, with oil output reaching 2.40mn barrels per day, an 11% increase from 2024.
Brazil’s Brava acquires Petronas' Tartaruga Verde stake for $450mn
Brazilian oil producer Brava Energia is to acquire a 50% stake in Malaysian state-owned Petronas' assets in the Tartaruga Verde field for $450mn.
Brazil’s national development bank approves $176mn for Inpasa corn ethanol plant in Bahia
BNDES has approved BRL950mn ($176mn) in financing for agroindustrial group Inpasa to build its sixth biorefinery, a corn ethanol facility in Luís Eduardo Magalhães in western Bahia state.
Colombia's Petro signals shift as nation prepares to lower gasoline prices
Colombian President Gustavo Petro said his government will begin lowering domestic gasoline prices, marking a reversal of a policy that previously dismantled fuel subsidies as part of efforts to contain the fiscal deficit
Venezuela pitches new hydrocarbons law to lure private oil investment
Rodríguez said energy cooperation with Washington would rest on “decency, dignity, and independence,” pledging that revenues generated under the new framework would be channelled back to Venezuelans
Enverus sees slow rebound for Venezuela oil output despite vast reserves
Venezuela’s oil production is expected to recover only gradually in the years ahead, even after the capture of long-time leader Nicolás Maduro, according to industry consultancy Enverus
Halliburton signals swift return to Venezuela as oil services firms eye early entry
Chief Executive Officer Jeff Miller said the company can act faster than oil producers because its business model avoids the heavy, long-term capital commitments typically required before returns materialise
CIA chief meets Venezuela’s interim leader as Caracas signals shift on oil policy
The discussions focused on improving communication and explored potential economic cooperation, with Washington stressing that “Venezuela can no longer be a safe haven for US adversaries"
US seizes tanker linked to Venezuelan oil trade in latest Caribbean interdiction
The ship, formerly known as the Veronica, was boarded and seized in the Caribbean Sea, the Coast Guard said in a social media post that included footage of US personnel descending from a helicopter onto the deck
ExxonMobil awards Shearwater major seismic survey contract offshore Trinidad and Tobago
Mexico’s Pemex sends highest-quality crude to Cuba whilst Dos Bocas receives heavier oil
Mexico's state oil company Pemex is exporting its premium Istmo and Olmeca crude grades to Cuba whilst processing heavier oil domestically, representing a significant opportunity cost as national production declines
Brazilian billionaire Batista shuttles between Venezuela's new leader and US officials
Brazilian billionaire Joesley Batista met with Venezuela's interim president Delcy Rodríguez on January 9 and told US authorities she appears ready to open the country's oil and gas sector to investment, a person familiar with the matter said.
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