LatAmOil - Latin America Oil & Gas
Arrow Exploration posts stronger Q1 results after Colombia output rises
Arrow Exploration reported higher first-quarter revenue and earnings after increased production from its Colombian assets boosted cash flow and operating margins, the company said in its interim results statement.
Mexico's Pemex crude output edges up 1.4% y/y in April as Olmeca refinery slumps to 43% capacity
Guyana's oil fund tops $4bn for first time amid Middle East conflict
Guyana's Natural Resource Fund surpassed $4bn for the first time.
BW Energy targets 100,000 boepd growth after Brazil, Gabon investments
BW Energy Limited will start a new infill drilling campaign at the Golfinho licence off Brazil, which with a FID on the Bourdon offshore development in Gabon will allow it to target production growth above 100,000 boepd.
ExxonMobil nears Venezuela return in major shift, ConocoPhillips still wary
Exxon Mobil is in talks to re-enter Venezuela nearly two decades after abandoning the country following the nationalisations carried out under former President Hugo Chávez, but ConocoPhillips remains unsure of entry to Venezuela's oil sector.
Venezuela pins oil recovery on reviving gas sector, ENI and Repsol aim to double output
Venezuela’s hopes of rebuilding its oil industry are increasingly tied to the recovery of its struggling natural gas sector, as officials and private operators push for fresh investment to revive ageing infrastructure and stalled projects.
Brazil stakes claim on oil and minerals
Brazilian President Luiz Inácio Lula da Silva said Brazil must use its oil and mineral reserves to strengthen domestic industry and protect national interests, linking energy and mining policy directly to sovereignty.
Brazil’s BNDES cuts stakes in energy firms
Brazilian development bank - BNDES - has reduced holdings in Petrobras and Axia Energia this month through share sales carried out by its investment arm BNDESPar, according to four sources familiar with the matter.
Brazil field restart lifts Karoon output
Karoon Energy has resumed production at its Baúna offshore project in Brazil after completing a planned 28-day shutdown tied to maintenance and upgrades at the floating production, storage and offloading unit, the company said.
Brazil extends Petrobras drilling deal
Baker Hughes has won a contract extension from Petrobras to provide integrated well construction services in the Santos Basin offshore Brazil, expanding an agreement first announced in early 2024.
Venezuela is again one of Latin America’s top oil producers, exports to US highest since 2018
Venezuela consolidated its position as one of the three largest crude oil producers in Latin America and the Caribbean in January 2026.
Argentina's Neuquén province hits all-time oil production high in April
Neuquén province set a new crude oil production record in April 2026, reaching 628,924 barrels per day, consolidating Vaca Muerta's position as Argentina's hydrocarbon engine.
ExxonMobil to add 1,600 jobs and gas output spike to Guyana through new projects
Guyana is set to gain up to 1,600 jobs and a fresh spike in gas output as ExxonMobil seeks to advance its planned Longtail and Haimara projects.
Argentine industries face winter gas shortages after failed LNG tender
Argentine industries risk running short of natural gas this winter following the collapse of a government liquefied natural gas (LNG) tender, rising global energy prices and increased domestic demand driven by colder-than-normal temperatures.
Colombia awards 1.55GW of solar capacity in 2029-2030 firm energy auction
Colombia awarded 1,546.9MW of solar generation capacity in its latest firm energy auction for the 2029-2030 supply period, as the government accelerates efforts to strengthen long-term electricity reliability and expand renewable generation
Enel Colombia tops 1GW of installed solar capacity with new Atlantic coast projects
Enel Colombia said it surpassed 1GW of installed solar capacity through six utility-scale photovoltaic parks, strengthening its position in Colombia’s fast-growing renewable energy sector
Colombia gas crunch deepens as LNG costs surge after Hormuz closure
Colombia is facing mounting pressure on its natural gas market after disruption linked to the closure of the Strait of Hormuz tightened global LNG supply, worsening an already growing domestic shortfall driven by declining hydrocarbon production
Cuba criticises EU position on expanded US sanctions
Cuban Foreign Minister Bruno Rodríguez criticised the European Union for failing to recognise the impact of US sanctions on the island’s economic crisis, while warning that recent measures by Washington also threaten European commercial interests
EU, UNDP expand renewable energy push in Cuban agriculture
Cuba has expanded the use of renewable-energy systems across more than 120 hectares of farmland and livestock areas as part of a joint programme backed by the European Union and the United Nations Development Programme
Russia eyes LNG Brazil for LNG exports
Russia believes it has a favourable outlook for exporting LNG to Brazil, Russia’s ambassador to the country told reporters in Brasilia at a meeting of the Russian-Brazilian intergovernmental on May 25.
Ecoanalítica sees IMF role as key to Venezuela debt overhaul
According to the firm, a comprehensive restructuring will require the involvement of the International Monetary Fund (IMF) and a prior process of institutional and statistical normalisation
Venezuela ranks among Latin America’s top oil producers, report shows
The report said Venezuela, together with Brazil and Mexico, accounted for 70% of the region’s oil production, which totalled 361mn barrels during the month
Claver-Carone emerges as central figure in US strategy for post-Maduro Venezuela
He also played a role in discussions tied to the reopening of Venezuela’s oil sector and backing firms seeking involvement in the restructuring of the country’s $170bn debt
Vanguard deepens exposure to Venezuelan debt on restructuring expectations
Vanguard Group Inc. has significantly expanded its holdings of defaulted Venezuelan debt, making an unusually active move for an asset manager better known for passive index investing
Venezuelan business group urges compensation over Trinidad oil spill
Representatives of the chamber said the incident poses a direct risk to the region’s fishing industry, one of the main economic activities in Sucre state, stressing that “commercial health depends directly on the health of the sea"
Venezuela seeks stronger trade ties with India ahead of possible Rodríguez visit
US Secretary of State Marco Rubio said there are “opportunities with Venezuelan oil” in the Asian nation and described India as “a great ally and a great partner”
Colombia's GeoPark eyes Venezuela as Gilinski Group backing fuels regional expansion
The Bogotá-based producer has intensified its regional ambitions after Colombia’s Gilinski Group acquired roughly 24% of the company
Trump says Venezuelan oil windfall has offset cost of Iran conflict
President Donald Trump said revenue generated from oil seized during the US operation in Venezuela had more than compensated for the cost of the war in Iran
Venezuela emerges as key oil supplier to India amid gulf disruptions
Nearly half of India’s crude imports usually pass through the Strait of Hormuz, but the route has become inaccessible as the conflict escalate
Latin America oil output jumps 11% in January, gas surges 27%, report says
Oil production across Latin America and the Caribbean rose 11% year-on-year in January to 361mn barrels, with natural gas output climbing 27% to 28bn cubic metres, the Latin American and Caribbean Energy Organisation (OLACDE) said.
Brazil draws Ecopetrol into Brava deal
Colombia’s Ecopetrol said in a press release its Brazilian subsidiary has launched a voluntary tender offer on B3 to acquire 116.1mn shares in Brava Energia at BRL23 per share, representing about 25% of the company’s outstanding stock.
Brazil’s Raízen races for debt deal
Raízen is preparing another round of talks with creditors ahead of a mid-June deadline to submit its out-of-court restructuring proposal, as the company still lacks support from international bondholders.
Neuquén oil output hits record high in April on Vaca Muerta growth
Argentina’s Neuquén province produced a record 628,924 barrels of oil per day in April 2026, driven by continued expansion in the Vaca Muerta shale formation, provincial energy authorities said.
Chinese tanker loads Vaca Muerta crude for US export at Argentina's Puerto Rosales
A Chinese-flagged oil tanker is loading around 80,000 tonnes of crude from Argentina’s Vaca Muerta shale formation at Puerto Rosales for export to the United States, highlighting the growing international reach of the country’s energy sector.
Guyana expresses confidence ICJ ruling will end long-running border dispute with Venezuela
IEA chief warns of oil markets entering "red zone" by July-August
Global oil markets could enter the “red zone” by July-August if additional Middle Eastern export supplies fail to materialise and inventories continue falling during the peak summer demand season.
Colombia fast-tracks grid access rules to unlock delayed energy projects
Colombia introduced new rules to accelerate grid access for electricity generation projects with environmental permits or energy supply obligations already secured
Archer extends Vaca Muerta drilling contracts through 2028
Norwegian oilfield contractor Archer has secured extensions to an existing drilling contract in Argentina’s Vaca Muerta shale formation, adding an estimated $130mn to its contract backlog and extending operations through October 2028.
Argentina's YPF targets dividends from 2028 amid $25bn Vaca Muerta expansion
YPF President Horacio Marín said the Argentine state-controlled energy company aims to begin paying dividends to shareholders from 2028, while advancing a $25bn investment plan tied to the development of the Vaca Muerta shale formation.
Argentina posts record energy trade surplus on oil boom, Neuquén also hits record output
Argentina recorded a record energy trade surplus of $1.248 bn in April, driven by a sharp rise in oil exports and a steep decline in energy imports, according to official data released by the National Institute of Statistics and Census.
Brazil backs biofuel push
Acelen Renewables, backed by Mubadala Capital, said in a press release it will invest $1.5bn to start construction of a renewable fuels biorefinery in Bahia, supported by financing arranged by HSBC and the International Finance Corporation.
Exxon nears Venezuela return in major shift after Chávez-era exit
Exxon Mobil is in talks to re-enter Venezuela nearly two decades after abandoning the country following the nationalisations carried out under former President Hugo Chávez
Venezuela debt restructuring faces long timeline despite oil sector hopes
Venezuela’s effort to restructure its sovereign debt and liabilities tied to state oil company PDVSA is expected to take years, though analysts say progress toward an agreement could still improve confidence in the country’s oil industry
Venezuelan crude imports to US reach highest since 2018
US crude imports from Venezuela climbed to their highest level since 2018 in the week ending May 15, highlighting a sharp shift in oil trade flows as Washington eases restrictions on Caracas and disruptions hit Middle Eastern supply routes
Venezuela faces billions in claims from Chávez-era expropriations
Venezuela’s sweeping nationalisation campaign under Hugo Chávez and later Nicolás Maduro left the country burdened with liabilities exceeding $30bn by 2021
Venezuela debt rally loses steam as investors brace for lengthy restructuring
The announcement by interim President Delcy Rodriguez’s administration initially sparked optimism
ConocoPhillips warns Venezuela terms remain unattractive for oil investment
Venezuela’s attempts to reopen its oil industry to foreign companies remain insufficient to secure large-scale investment, according to ConocoPhillips Chief Executive Officer Ryan Lance
Ecuador to open major oil fields to private investment as output slump deepens
Ecuador is preparing to open its largest oil assets to international investors in a bid to revive declining crude production and reverse years of stagnation in its upstream sector.
AEC to promote African energy opportunities at ARPEL Conference in Buenos Aires
The African Energy Chamber will use the upcoming ARPEL Conference in Buenos Aires to promote Africa as a major destination for South American energy investment and cooperation.
Dominican Republic secures 10% stake in Guyana's Berbice oil block with no upfront investment
Braskem's Mexico unit misses petrochemical boom as cash crunch caps output at half capacity
GeoPark eyes Venezuela expansion as sanctions relief opens sector
GeoPark is evaluating entry into Venezuela’s oil and gas industry through potential partnerships with state-owned PDVSA and new production-sharing agreements, as easing US sanctions and regulatory changes improve conditions for foreign investors
Colombia opens tax break scheme for hydrogen projects
Colombia has opened applications for tax incentives tied to hydrogen developments, allowing companies to seek benefits for projects ranging from green and blue hydrogen production to transport and storage infrastructure
Panama halts power sales to Costa Rica amid escalating trade rift
Panama has suspended electricity sales to Costa Rica as a long-running trade dispute between the neighbouring countries intensified, after Costa Rican President Laura Fernández threatened new international action over restrictions on agricultural
Brazil’s Lula backs Amazon oil push
Brazilian President Luiz Inácio Lula da Silva defended oil exploration in the Equatorial Margin, arguing that drilling near the mouth of the Amazon River is necessary for energy security and national sovereignty.
Trinidad sets fiscal terms for Venezuela gas imports as Dragon talks gather pace
Trinidad and Tobago moves to formalise revenue terms for Venezuelan cross-border gas as Dragon field negotiations gather pace and upstream decline squeezes Atlantic LNG output.
Rockhopper says Falklands' Sea Lion project advances as operator studies production expansion
Rockhopper Exploration said the Sea Lion oil development in the North Falkland Basin remains on track for first oil in the first half of 2028, while operator Navitas Petroleum studies accelerating later phases of the project.
BW Energy targets 100,000 boepd after Gabon and Brazil investments
BW Energy Limited has approved offshore development projects in Gabon and Brazil containing a combined 68mn barrels of oil equivalent in 2P reserves, targeting production above 100,000 boepd by 2028.
Venezuela offers foreign arbitration in bid to draw oil investment
Hydrocarbons Minister Paula Henao said that the new regulatory framework for the industry was designed to provide greater legal certainty to international companies seeking to expand operations in Venezuela
Repsol and ENI target sharp increase in Venezuelan gas output by 2030
The companies operate the Cardón IV project alongside state-owned PDVSA and are targeting output of about 1.25bn cubic feet a day by 2030
Venezuela pins oil recovery on reviving neglected gas sector
Venezuela’s hopes of rebuilding its oil industry are becoming increasingly tied to the recovery of its struggling natural gas sector
Venezuelan oil officials make first US visit as Caracas seeks industry investment
Venezuela’s Hydrocarbons Minister Paula Henao and senior PDVSA official Jovanny Martínez are due to attend an oil exploration summit in Houston on May 21 as Caracas intensifies efforts to revive its energy sector and attract foreign investment
Colombia's Petro backs Michelle Bachelet's bid to become first woman to lead the United Nations
UNDP and EU back solar push in Cuba's most isolated communities amid deepening energy crisis
The United Nations Development Programme (UNDP), in partnership with the European Union and Cuban institutions, has installed 550 renewable energy systems across isolated communities in Cuba through the FRE Local project, bringing electricity access
Colombia presses Glencore to prepare Cerrejón for post-coal transition
Colombia’s government is increasing pressure on Glencore to begin preparing a long-term transition plan for the Cerrejón coal mine in La Guajira, as President Gustavo Petro’s administration seeks to avoid economic disruption
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