LatAmOil - Latin America Oil & Gas
Brazil’s Rio trade surges despite tariff shock
The state of Rio de Janeiro recorded $80.2bn in trade last year, up 9% from the previous period, industry group Firjan said, citing export growth that offset the impact of tariffs announced by Donald Trump.
US ethanol industry offers Mexico technical help to expand fuel blending and cut air pollution
Trade dispute continues between Ecuador and Colombia over 900% hike in oil transport fee
Mexico’s fracking debate resurfaces
US eases curbs on Venezuelan Oil shipments to Cuba to address regional risks
Secretary of State Marco Rubio warned the policy would be rolled back if the crude ultimately benefits Cuba’s government or armed forces, stressing that any relief must reach ordinary citizens
Parex resources offers $500mn cash to outbid GeoPark for Frontera Colombia assets
Parex Resources submitted a $500mn all-cash acquisition proposal to Frontera Energy Corp's board on February 23 to acquire the company's 17 Colombian upstream petroleum and gas assets, offering a $125mn premium over GeoPark's existing agreement
Vista to acquire Equinor’s Vaca Muerta stakes after Shell waives pre-emption rights
Vista Energy said it would proceed with the acquisition of stakes held by Norway’s Equinor in two blocks in Argentina’s Vaca Muerta shale formation after Shell Argentina waived its right of first refusal.
Suriname and Guyana consider cross-border gas pipeline
Suriname and Guyana are exploring a cross-border gas pipeline to link their rapidly expanding offshore developments.
Argentina oil output hits record as Vaca Muerta drives 68% of supply
Argentina’s oil production reached a record 882,200 barrels per day (b/d) in January, with nearly 600,000 b/d coming from the Vaca Muerta shale formation, which now accounts for 68% of national output.
Argentina’s shale oil potential likened to US Permian by Continental CEO
Argentina’s shale oil resource in the Vaca Muerta basin could rival the size and productivity of Texas’s Permian Basin, US oil producer Continental Resources said on February 24.
Fracking in Argentina linked to hundreds of tremors in Neuquén, experts say
Hydraulic fracturing in Argentina’s Patagonia region has been linked by researchers to a sharp rise in seismic activity in Neuquén province, home to the country’s largest shale reserves.
Argentina's Neuquén to hold hearing on Pluspetrol’s 150-well Vaca Muerta project
Argentina’s Neuquén province will hold a public consultation on March 31 in Rincón de los Sauces over a 150-well development project proposed by Pluspetrol in the northern block Bajo del Choique of the Vaca Muerta formation.
US intercepts third tanker linked to Venezuela and Cuba sanctions-busting in Indian Ocean
Africa–Venezuela energy cooperation strengthened through high-level AEC visit
A delegation from the African Energy Chamber (AEC) has visited Venezuela to advance a structured cooperation programme in the hydrocarbon sector and establish technical training partnerships.
Ghana's Cybele Energy targets oil output boom at Guyana's S7 Block
Ghana’s female-led Cybele Energy is targeting 160,000 barrels per day production at Guyana's S7 Block after the company identified more than 400mn barrels of recoverable resource potential in its shallow water acreage.
Argentina's Neuquén province achieves oil output record
Neuquén province set a new oil production record in January 2026, reaching 610,715 barrels per day, the provincial government announced.
Rubio heads to Caribbean talks as US sharpens focus on Cuba and Venezuela
The State Department said Rubio will underline Washington’s commitment to working with members of the Caribbean Community to bolster stability and prosperity across the hemisphere
Trinidad's NGC signals scope for better gas terms after Perenco supply deals
Chairman Gerald Ramdeen defended NGC’s earlier move to lift prices for light industrial customers to $5.30 per MMBtu from $3, saying previous tariffs were heavily subsidised and below the company’s acquisition costs
Colombia lacks OFAC licence to import Venezuelan gas through Ecopetrol, minister says
Colombia's state oil company Ecopetrol cannot import natural gas from Venezuela because it lacks authorisation from the US Office of Foreign Assets Control, Energy Minister Edwin Palma said after visiting Caracas
Colombia's Ecopetrol lifts proven reserves 2.7% to 1.944bn barrels, achieves 121% replacement despite $68.64 Brent
Ecopetrol reported proven oil, condensate and natural gas reserves of 1.944bn barrels of oil equivalent at end-2025, up 2.7% year-on-year, achieving a 121% reserves replacement ratio despite a 13.9% decline in Brent crude to $68.64 per barrel
US intercepts third tanker in Indian Ocean over Venezuela oil sanctions
The Pentagon said US forces carried out a right-of-visit inspection and boarding of the tanker Bertha without incident in the area overseen by US Indo-Pacific Command
Venezuela’s oil sector recalibrates as licences ease pressure
State-owned PDVSA is running its main refineries — Amuay, Cardón, El Palito and Puerto La Cruz — at a combined throughput of about 450,000 barrels per day (bpd), roughly 35% of installed capacity
Parex Resources bids $500mn for Frontera Energy's Colombia assets, topping GeoPark offer
Canada's Parex Resources submitted an all-cash $500mn proposal to acquire Frontera Energy's Colombian upstream operations, trumping GeoPark's January agreement by $125mn and offering an additional $25mn contingent payment plus debt assumption
Trump administration intensifies Cuba embargo as energy crisis deepens humanitarian concerns
The Trump administration has accelerated economic pressure on Cuba through an enhanced petroleum embargo threatening tariffs on countries supplying oil to the island following Mexico's suspension of fuel shipments
Cuba's oil reserves risk running dry by March as garbage crisis engulfs Havana
Cuba faces depletion of its oil reserves by mid-March unless supply vessels arrive, energy expert Jorge Piñón warned, as only 44 of Havana's 106 rubbish trucks remain operational and waste piles accumulate across the capital amid a US fuel blockade
VMOS pipeline begins horizontal drilling under Argentina’s Río Negro
Construction of the Vaca Muerta Oil Sur (VMOS) pipeline reached a key milestone on Monday as works began to cross the Río Negro through Horizontal Directional Drilling (HDD), provincial authorities said.
Argentina extends RIGI to 2027, adds new oil and gas projects
The government of President Javier Milei extended by one year the deadline to join its large investment incentive scheme and expanded its scope to include new onshore oil and gas developments, setting a minimum investment threshold of $600mn.
YPF CEO says shale investment safe from oil price drop as Vaca Muerta drive intensifies
YPF SA is setting aside funds to sustain investment in Argentina’s fast-growing Vaca Muerta shale basin even if oil prices fall this year, Chief Executive Horacio Marín said.
Argentina's Vaca Muerta oil output hits record 610,720 bpd in January
Argentina’s Vaca Muerta shale formation produced a record 610,715 barrels per day of oil in January 2026, marking a 32.01% year-on-year increase and underscoring the growing weight of non-conventional output in the country’s energy matrix.
Quintana Energy, TSB advance Vaca Muerta exploration in Mendoza with $44mn plan
Quintana Energy and TSB are carrying out a $44mn unconventional pilot plan in the Cañadón Amarillo block in Mendoza province, deploying 3D seismic surveys over 202.5 square kilometres.
Argentina’s rising gas exports poised to reshape regional market, Fitch says
Argentina’s expanding natural gas production and new pipeline infrastructure could accelerate exports from the Vaca Muerta basin and reshape regional energy markets, Fitch said in a report.
Argentina’s Río Negro to build largest fractionation plant for Vaca Muerta gas
Argentina’s Río Negro province will build the country’s largest onshore gas fractionation plant to process output from Vaca Muerta, as part of the Argentina GNL project, Governor Alberto Weretilneck said.
Mexican president's U-turn on fracking tests green credentials as energy sovereignty takes priority
Brazil begins formal process to join IEA as full member
Brazil has launched the formal accession process to become a full member of the International Energy Agency (IEA) after a unanimous decision by ministers at the agency's biennial ministerial meeting in Paris on February 19.
Brazil's ANP shuts down Vibra fuel base after ethanol tank explosion leaves one injured, two missing
Brazil's oil and gas regulator ANP has shut down Vibra Energia's fuel distribution base in Volta Redonda, Rio de Janeiro state, after an explosion and fire broke out in one of the facility's ethanol storage tanks in the early hours of February 22.
Venezuela and Colombia deepen energy talks as trade gradually recovers
The discussions, which included acting president Delcy Rodríguez, focused on strengthening bilateral ties and identifying concrete projects aimed at boosting regional energy security and supporting economic growth in both countries
Repsol cuts Venezuela exposure as impairments mount despite new US licences
The Spanish energy group said in its annual report that the remaining exposure is largely tied to receivables from state-owned PDVSA, financing provided to Petroquiriquire and stakes in projects including Cardón IV
US widens sanctions relief to allow tax payments by oil firms in Venezuela
To qualify, companies must route those payments into an account overseen by the United States
African Energy Chamber sends Venezuela mission to bolster cross-Atlantic oil and gas links
The visit is aimed at expanding cooperation in oil and gas, encouraging bilateral trade and identifying investment opportunities at a time when both sides are seeking to reinforce energy security
Geoex MCG releases offshore seismic data to support renewed exploration in Venezuela
The initial datasets are being offered under a specific licence from the US Office of Foreign Assets Control, in line with recent US measures that ease restrictions on energy-sector services
Shell steps up Venezuela gas project after US licenses ease energy curbs
The licenses allow the company to move forward with tangible activity at the Dragon field, a discovery in Venezuelan waters estimated to hold about 127bn cubic metres of gas, according to a company spokesperson
BP strikes massive Brazil find
British Petroleum said it has identified a major oil accumulation in the Pau-Brasil field, with potential resources of up to 8bn barrels of oil equivalent, following drilling work in the Santos Basin.
Tidewater expands bet on Brazil offshore
Tidewater has agreed to acquire all outstanding shares of Wilson Sons Ultratug Participações and its affiliate Atlantic Offshore Services for an enterprise value of about $500mn, including assumed debt.
Cuban fuel crisis: a Russian tanker is on route. Will Trump let it through?
A tanker widely believed to be carrying Russian fuel is heading towards Cuba, potentially setting the stage for a fresh confrontation between Moscow and Washington as the island struggles under a de facto US fuel embargo.
ExxonMobil presses $1bn Cuba claim at US supreme court as Helms-Burton scope tested
ExxonMobil argued that it is entitled to more than $1bn in compensation from Cuban state conglomerate CIMEX for oil and gas assets seized in 1960, urging the US Supreme Court to eliminate sovereign immunity protections
Colombia's Petro limits Venezuelan oil imports to light Apure-Barinas crude for Barrancabermeja refinery
Colombian president Gustavo Petro ruled out broad Venezuelan crude imports, saying only light oil from Venezuela's Apure and Barinas fields might be processed at the Barrancabermeja refinery
Colombia, Venezuela advance energy integration talks amid gas supply concerns
Colombia and Venezuela moved forward with plans to deepen bilateral energy cooperation after Colombian Mines and Energy Minister Edwin Palma met Venezuelan acting president Delcy Rodríguez in Caracas to discuss joint projects
US energy diplomacy and Venezuela’s oil future
US Energy Secretary Chris Wright arrived in Venezuela on February 11 for a three-day visit and opened discussions with officials on the oil country's dilapidated oil sector and the future of state-owned oil company PDVSA.
Cuba strangled by oil embargo but official talks with Trump administration have started
Cuba is confronting one of the gravest energy and humanitarian crises in decades as oil imports have collapsed to zero, public services falter and geopolitical tensions intensify between Havana and Washington.
Venezuela is again the US’s fifth-largest oil supplier but uncertainties remain
Venezuela has regained its position as the fifth-largest supplier of crude oil to US refineries during the first week of February 2026, according to data from the US government’s Energy Information Administration.
Venezuela’s oil sector attracts significant foreign interest but TotalEnergies opts out
This follows the US administration's capture of Maduro in January.
Mexican authorities uncover tunnel tapping Pemex pipeline in fuel theft crackdown
Mexican authorities raided a tunnel used to steal fuel from a state-owned pipeline in rural Hidalgo state, offering a rare glimpse into a long-running battle against a black-market trade dominated by organised crime.
Brazil misses deadline for fossil fuel phase-out roadmap as transition financing added to scope
Brazil's government has missed a self-imposed deadline to deliver a roadmap for phasing out fossil fuels, while simultaneously expanding the plan's ambition to include how the country intends to finance its energy transition.
Brazil to ramp up LNG and Argentine shale gas imports as Bolivian supplies dwindle
Brazil is preparing to significantly increase imports of LNG and Argentine shale gas over the coming years as supplies from Bolivia decline faster than previously projected, according to the country's draft Ten-Year Energy Plan (PDE) 2035.
Brazil’s Petrobras to open bids for 523 km umbilical supply contract in March
Brazil's state-owned oil company Petrobras is preparing to open bids on March 3 for a tender to supply up to 523.2 kilometres of electro-hydraulic umbilicals for its offshore operations.
Guyana aids Trinidad in $200mn push to restart Petrotrin refinery
Talks facilitated by Georgetown have connected Trinidadian officials with Arab investors, local banks and refining firms to explore joint ventures for the restart
Trinidad sees Venezuela gas projects advancing after political shift
The projects are slated to be operated by Shell, BP and Trinidad’s National Gas Company, and are viewed as critical to supporting the twin-island nation’s energy sector
Repsol targets sharp rise in Venezuela oil output as operations restart
Speaking after the presentation of the company’s 2025 results, Imaz said the group is positioning itself to fully resume day-to-day operations in the country
Pecom to acquire YPF’s Manantiales Behr field in Argentina
Pecom has agreed to acquire the Manantiales Behr oilfield in Argentina’s Chubut province from state-controlled energy company YPF after a previously agreed $575mn sale to Limay Energía, linked to Rovella Capital.
Argentina’s RIGI scheme draws over $52bn in pledged mining and energy investments
Argentina’s large investment incentive regime, known as RIGI, has attracted more than $52bn in pledged investments across mining and energy projects.
Cuba authorises private companies to import fuel as crisis deepens under US embargo
Cuban authorities authorised private companies to import fuel for the first time, ending the government's decades-old monopoly as the island confronts its worst energy crisis following the halt of Venezuelan oil deliveries and US tariff threats
Colombia becomes 33rd IEA member after five-year accession process
Colombia received a unanimous invitation to join the International Energy Agency as its 33rd member country, marking the first Latin American nation to achieve full membership in the Paris-based organisation
US refiners weigh direct Venezuelan crude purchases to lift margins
The shift follows January approvals that allowed trading houses Trafigura and Vitol to export Venezuelan crude under a $2bn bilateral framework
Venezuela bonds hover in low 40s as oil recovery bets clash with heavy risks
Prices imply investor optimism about recovery, even as the macroeconomic backdrop remains weak, marked by scarce official data and an external debt burden described as extreme
Trump’s Venezuela oil push runs into big oil’s aversion to risk
The standoff reflects a deeper misreading of how the modern oil industry operates. Far from the swashbuckling image of early 20th-century wildcatters, today’s oil majors prioritise stability, scale and predictable returns
Ecuador files three trade complaints against Colombia at Andean community over reciprocal tariffs
Revival of oil flows from Venezuela has started
Tankers carrying Venezuelan crude are once again moving into commercial trade lanes, delivering barrels to US Gulf Coast refineries and, through commodity traders, to Europe and potentially beyond.
Brazil prosecutors seek suspension of Petrobras' Amazon Basin drilling licence
Brazil's Federal Public Prosecutor's Office has recommended that environmental regulator Ibama suspend parts of the environmental licensing process for state-owned oil company Petrobras oil exploration in the Amazon River Mouth Basin.
Bolivia corruption probe deepens as ex-YPFB executive detained in Santa Cruz
Authorities in Bolivia have detained former hydrocarbons executive Gabriela Delgadillo as part of an expanding corruption investigation linked to state energy operations.
Exxon lines up four Stabroek projects as Guyana output push continues
ExxonMobil is advancing a pipeline of developments in the Stabroek Block offshore Guyana that would add well over 900,000 bpd of new production capacity between now and 2029, with three projects already approved and a fourth in planning
Maduro's removal opens door to Guyana oil expansion
Brazil faces dirtier energy future as oil flaring hits 15-year high and thermal power set to expand
Brazil is on course to become a more carbon-intensive energy producer, with natural gas flaring on offshore platforms hitting its highest level in 15 years and the share of fossil fuel-based thermal power set to nearly double by 2040.
Brazil's pre-salt Social Fund failed to deliver on inequality promise, report finds
Brazil's Pre-Salt Social Fund has spent most of its 15-year existence without proper governance, failing to fulfil its mission of reducing inequality and financing social development, said a report by the Institute of Socioeconomic Studies (Inesc).
Petrobras signs first free-market natural gas contract in Brazil's Northeast
Brazil’s state-owned oil company Petrobras has signed its first natural gas supply contract in the free market in Brazil's Northeast region to supply ceramics company Cerbras, based in the state of Ceará, with deliveries set to begin on March 1.
Brazil's Lula signs free cooking gas law for 15mn families as critics flag electoral motives and fiscal risks
Brazilian President Luiz Inácio Lula da Silva has signed into law a programme providing LPG refills to around 15mn vulnerable households, a measure his critics have labelled an electoral subsidy carrying long-term fiscal risks.
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