LatAmOil - Latin America Oil & Gas

US-controlled Venezuelan oil sales could top $10bn a year, Wright says

Wright said about $1bn in oil has already been sold, with contracts in place to market an additional $5bn in the coming months

Venezuela’s oil reset spurs cautious optimism under Washington’s watch

Any recovery, however, is set to advance slowly and on Washington’s terms. Analysts say the US is likely to oversee as much as 70% of Venezuela’s oil-related cash flow, closely tracking how revenues move through the economy

Venezuela bond prices signal uneven recovery ahead of restructuring

A report from Bank of America says the focus is shifting from the overall recovery value to how losses and gains are apportioned among bondholders, depending on legal terms, litigation risks and, above all, unpaid interest

Venezuela reclaims fifth spot among US crude suppliers

Shipments averaged 153,000 barrels per day (bpd), down 13% from the previous week but still sufficient to overtake rival suppliers and restore the country’s ranking among Washington’s key energy partners

COMMENT: US strike on Iran is all but inevitable with Trump backed into a corner

As the Iranians continue to make military threats while blocking off the crucial oil transit point of the Strait of Hormuz, it appears that US President Donald Trump will inevitably launch an attack on Iran.

Shell steps up to steady Brazil’s Raízen

Shell has agreed to inject more capital into its joint venture Raízen, easing its earlier stance of matching contributions with partner Cosan.

Argentine LNG emerges as next frontier in hydrocarbon sector boom

Following the sealing of a joint agreement for the Argentina LNG project, it appears that LNG is emerging as the next frontier of the South American country's hydrocarbon sector boom.

Repsol receives first Venezuelan crude shipment since Maduro’s fall

Spain’s Repsol received its first cargo of Venezuelan crude since the removal of former president Nicolás Maduro, as the tanker Folegandros docked at the Port of Bilbao.

Suriname's oil and gas sector growth could be crippled by fiscal policy missteps, IMF warns

The International Monetary Fund has cautioned that Suriname's offshore oil windfall could be significantly undermined by deteriorating fiscal and monetary discipline.

Cuba says 32,880 pregnant women at risk as US fuel blockade disrupts maternal healthcare

Trump confirms Cuba talks as speculation swirls around Raúl Castro's son as interlocutor

Detention of US oil engineer heightens tensions over Venezuela energy revival

Romero, 86, was taken into custody on February 13 at Maracaibo airport as he prepared to fly to Caracas for meetings with international oil companies

Ecuador liability to Chevron reduced by $5.7mn after arbitration recalculation

A recalculation by an international arbitration panel has lowered the compensation that Ecuador must pay to Chevron, reducing financial exposure in a decades-old environmental and legal confrontation linked to oil operations in the Amazon region.

Trump says US is negotiating with Cuba as oil blockade triggers humanitarian crisis

US president Donald Trump confirmed that Washington is in active talks with Havana, calling Cuba a "failed nation" stripped of jet fuel and basic supplies, even as he refused to rule out military intervention if negotiations collapse

DOF wins offshore contract for Vaca Muerta export project

Norway’s DOF Group ASA has secured a substantial offshore contract for a project in Argentina linked to the Vaca Muerta Oil Sur (VMOS) development, the company said in a statement, with operations scheduled across two campaigns in 2026.

Trump rejects claims of unauthorised US mediation in Venezuela oil talks

Writing on Truth Social, Trump said only individuals formally approved by the State Department can represent the US government, dismissing suggestions of unofficial mediation

PDVSA tightens oil sales as licensing uncertainty slows exports

The stance comes despite Washington issuing a broad authorisation in January to allow oil exports, alongside specific permits for traders including Trafigura and Vitol

Venezuela property market stirs as post-Maduro optimism lifts prices

Across oil-producing regions, coastal cities and tourist hubs, agents report price increases of between 20% and 50%

US shifts Venezuelan oil proceeds from Qatar to Treasury account

The change follows Washington’s decision to take control of Venezuela’s oil exports after the capture of former president Nicolás Maduro in a US-led military operation last month

Venezuela creates twin funds to channel oil revenue

According to a statement from the Presidential Press Office, the revenues will be split between two dedicated financial vehicles with distinct mandates

Chevron could lift Venezuelan output to 300,000 barrels a day, US energy chief says

Wright made the remarks after visiting oil fields operated by the company in the country, pointing to the Orinoco Oil Belt as central to any production increase

US energy chief unveils $100mn plus Chevron investment

Wright said the investment is intended to double output within 12 to 18 months and increase it fivefold over the next five years, as Washington seeks to accelerate a recovery in the country’s energy sector

Oil majors in talks with Venezuela over recovery of expropriated assets

The discussions mark a potential shift in relations between Caracas and foreign producers that suffered billions of dollars in losses

Valero plans Venezuelan crude imports in March

The move would make Valero one of the first refiners to restart purchases following the consolidation of a $2bn supply agreement between the US government and Venezuela’s interim administration

US forces board Venezuela-linked tanker in Indian Ocean

The vessel, the Veronica III, was operating under a Panamanian flag, according to the US Treasury Department, and was intercepted after a long-distance pursuit

Guyana strengthening oil and gas measurement oversight with legal reforms and digital monitoring

Mexican authorities dismantle major fuel theft network in Veracruz, seizing 100 tank trucks

Mexico's Pemex returns to stock exchange with $1.83bn debt issuance after seven-year absence

State oil company Pemex returned to the debt market on the Mexican Stock Exchange on February 14, 2026 after a seven-year absence, placing an issuance of up to $1.83bn through three certificate series at fixed and variable rates, at terms of five.

Mexico’s Pemex targets emissions cuts by 2030 but carbon output hit three-year high in 2025

Mexico's Pemex trains over 1,360 security personnel to combat fuel theft costing $1.2bn annually

Pemex expanded institutional efforts against fuel theft by training around 1,360 security personnel during 2025 to inspect fuel transport trucks and verify documentation, strengthening oversight across the hydrocarbon logistics chain.

Brazil to hold largest-ever pre-salt oil auction with 26 blocks up for tender

Brazil will hold its largest-ever production-sharing oil auction after the government authorised the inclusion of 18 new deepwater blocks in the Campos, Santos and Espírito Santo basins, the mines and energy ministry (MME) said.

Brazil’s Petrobras waives Braskem buyout rights, clearing path for IG4 stake transfer

Brazil's state-owned oil major Petrobras has approved waiving its preemptive and tag-along rights over Braskem shares held by Novonor, clearing a key hurdle for the transfer of the petrochemicals producer's controlling stake to IG4.

Brazil may need to cut oil exports from 2034 without major new discoveries, consultant says

Brazil may need to begin reducing oil exports from 2034 onward if it fails to make significant new discoveries in coming years, as the country's main production basins enter a mature phase, according to industry consultant Leggio Consultoria.

Fire at Havana refinery contained as Cuba's fuel crisis deepens under US oil embargo

Cuba foreign minister holds Madrid talks on strengthening ties as US tightens oil embargo

Colombia's gas output drops 17% in 2025 as fields deplete and imports loom

Colombia's natural gas production averaged 794.57mn cubic feet per day (22.5mn cubic meters per day) in 2025, down 17.1% from 958.5 mcfd in 2024, marking the steepest annual contraction in over a decade as mature fields deplete

Cuba refinery fire highlights deepening energy strain amid supply shock

Cuba brought a fire at Havana’s Ñico López oil refinery under control after an incident near fuel storage facilities intensified concerns over the island’s worsening energy shortage, authorities said

Five oil majors cleared to invest in Venezuela as US eases sanctions

The United States has authorised five major oil companies to negotiate investment agreements with Venezuela, extending sanctions relief nearly six weeks after American forces captured President Nicolás Maduro.

Oil refining lifts Uruguay manufacturing growth despite jobs slump

Output across the sector rose an average 2.7% from the previous year, according to data released by the National Institute of Statistics

US refiners get boost as Venezuelan heavy crude re-enters market

Sour crude differentials began to widen in mid-2025 and stayed elevated through the fourth quarter as supplies expanded, including from OPEC+ producers, the company said

Venezuela denies report of crude shipment to Israel

The statement was intended to rebut claims that Caracas had resumed oil sales to Israel after a halt that has been in place since mid-2020

TotalEnergies rules Out Venezuela return despite Trump push for oil investment

The French producer exited Venezuela in 2022 and sees no change in the strategic factors that drove that decision

BP seeks US approval to revive cross-border gas project with Venezuela

Interim Chief Executive Officer Carol Howle said the company is focused on securing the licence required to unlock the resource

Russia seeks US clarification on Venezuela oil curbs excluding Moscow and Beijing

Russia said it will press the US for clarification after Washington introduced new restrictions on Venezuela’s oil industry that exclude Russian and Chinese participation, a move the Kremlin described as “blatant discrimination”

Rodríguez hints at future US trip after energy talks in Caracas

Venezuela’s interim president Delcy Rodríguez said she expects to travel to the United States at some point following talks in Caracas with US Energy Secretary Chris Wright

US signals openness to China deals in Venezuela

The US is prepared to accept deals involving “legitimate” Chinese companies in Venezuela, even as it seeks to prevent arrangements Washington views as damaging

Venezuelan crude cargoes signal possible return to European refineries

Three cargoes of Venezuelan crude are crossing the Atlantic and indicating destinations in Italy and Spain