LatAmOil - Latin America Oil & Gas
Chilean-Brazilian Latam Airlines bets on smaller jets as fuel costs rise
Chilean-Brazilian carrier LATAM Airlines Group and Brazilian planemaker Embraer unveiled the first E195-E2 aircraft ordered by the airline, part of a $2.1bn deal for 24 jets as airlines shift towards smaller aircraft amid higher fuel prices.
ExxonMobil's Guyana profit dips to $4.67bn in 2025 on lower prices despite record production growth
Petroecuador adds new wells at Sacha and Auca fields, boosting output by nearly 4,000bpd
Ecuador's state oil company Petroecuador has brought two new wells into production at its flagship Sacha and Auca fields, adding nearly 3,800 barrels per day of combined output as the government pushes to reverse a decline in national production.
Mexico launches $1.5bn fertiliser complex in Durango as Pemex unveils own MXN93bn petrochemical plan
Sempra's ECA LNG begins production in Mexico with commercial operations due this summer
Sempra Infrastructure has begun production at ECA LNG Phase 1 in Ensenada on Mexico's Pacific coast, with commercial operations and the start of deliveries under long-term sales agreements expected in the coming months.
Adani Ports secures marine services deal for Argentina's first LNG export project
India's Adani Ports and Special Economic Zone (APSEZ) has won a 10-year marine services contract for Argentina's first liquefied natural gas (LNG) export project, expanding the company's international operations into South America.
Argentina lobbies EU to block proposal threatening soybean biodiesel exports
Argentina is stepping up efforts to persuade European Union lawmakers to reject a proposal that would remove soybean-based biodiesel from the bloc's renewable energy targets, a move that industry officials say could jeopardise exports.
Oil windfall reshapes Colombia's election debate as fiscal pressures mount
A surge in global oil prices is providing Colombia with an unexpected fiscal boost just as voters prepare to choose between competing visions for the country's economic and environmental future in the June 21 presidential run-off.
Venezuela’s export surge masks production gap, analyst says
Venezuela’s oil exports outpaced its production in May, underscoring a growing reliance on stored crude to sustain shipments abroad, according to Antonio de la Cruz, president of Inter American Trends
US fuel shipment to Cuba could be largest since 1960 trade rupture
A Florida-based energy trader is preparing what could become the largest shipment of US fuel to Cuba since Washington severed most commercial energy ties with the island in 1960, as Havana struggles with a worsening energy crisis
Mexican aid ship arrives in Cuba as fuel crunch deepens
Humanitarian aid from Mexico arrived in Cuba on June 7 aboard the cargo vessel Asian Katra, marking the sixth such shipment since February as the Caribbean nation grapples with a worsening economic and energy crisis following tighter US restrictions
US EIA predicts gaping deficit in oil supply for full year
Supply will fall 7mn bpd, and demand by only 1mn bpd.
Creditors take control of Brazil’s Raízen as Mercuria acquires Argentina assets in $1.42bn deal
Creditors are set to take control of Brazilian energy and biofuels company Raízen after securing support from around 75% of lenders for a restructuring plan, while the company advances a major asset sale in Argentina to Mercuria Energy Group.
Guyana's oil fund has received $9.7bn since first deposits in 2020 as revenues accelerate
Brazil’s Petrobras acquires 50% stake in Equinor's Itaimbezinho block in Campos Basin
Petrobras has agreed to acquire a 50% interest in the Itaimbezinho exploration block in the offshore Campos Basin from Equinor.
Brazil’s Braskem CEO sees "promising" phase ahead despite turbulence as debt restructuring accelerates
Venezuela seeks to expand bilateral energy ties with India
The return of Venezuelan crude to Indian refineries may be one of the most significant shifts in global oil trade this year.
Pampa Energía selects Halliburton for Vaca Muerta digital transformation programme
Argentine energy company Pampa Energía has chosen Halliburton to support a multi-year digital transformation programme across its unconventional operations in the Vaca Muerta shale formation, as the company seeks to improve efficiency.
Mexican president reveals four-year $11bn Veracruz investment plan
President Claudia Sheinbaum revealed a four-year MXN190bn ($10.9bn) investment plan for the state of Veracruz on June 5. The aims of the project, carried out from 2026 to 2030, are to recover Veracruz’s fertiliser and petrochemical industries.
Sempra’s Mexico project Energia Costa Azul produces first LNG
US LNG developer Sempra Infrastructure has achieved first LNG at its Energia Costa Azul project in Ensenada, Mexico.
India eyes deeper energy ties with Venezuela
India has already increased its purchases of Venezuelan crude with New Delhi the second-largest importer of Venezuelan oil in May.
Rodríguez ends India visit highlighting oil trade and broader cooperation
Rodríguez said the trip focused on advancing a bilateral agenda that would deliver benefits for both nation
US envoy says Venezuelan oil exports hit seven-year high
US Chargé d'Affaires John Barrett said in a post on social media that the export performance stemmed from a three-stage strategy designed by Secretary Marco Rubio and President Donald Trump
Venezuela joins OPEC+ talks as group advances 2027 output framework
Venezuela’s Minister of Hydrocarbons, Paula Henao, took part in a series of OPEC and OPEC+ meetings focused on strengthening coordination among major oil-producing nations and laying the groundwork for future production targets
Guyana's Stabroek Block sees fresh subsea installation and deepwater work through year-end
Creditors take control of Brazil’s Raízen
Raízen has secured backing from around 75% of creditors for a restructuring plan covering BRL65bn ($12.55bn) in debt, allowing Brazil’s largest out-of-court restructuring process to move forward days before the deadline for court approval.
ExxonMobil to complete Stabroek Block dredging works by November as Guyana output tops 900,000 bpd
Gas tank explosion in Mexico's Puebla sends fireball into sky, prompts evacuation of 2,000
Argentina's YPF to invest $175mn in infrastructure for landmark LNG project
Argentine national oil company YPF and the Government of Neuquén province have formalised a regulatory and fiscal framework governing development of the Argentina LNG project.
Argentina's Neuquén prioritises water reuse in unconventional oil and gas developments
Argentina's Neuquén province has formally declared the promotion of water reuse, recovery and recirculation in unconventional hydrocarbon operations a public policy priority, aiming to reduce freshwater withdrawals.
Argentina's Mega inaugurates new processing unit to support Vaca Muerta growth
Argentine energy company Compañía Mega has inaugurated a new fractionation train following a three-year construction process and a $260mn investment aimed at expanding its capacity to process hydrocarbons from the Vaca Muerta shale formation.
Argentina approves gas pipeline and lithium expansion under investment incentive scheme
Argentina has approved a $1.3bn natural gas pipeline project and a $208mn expansion of a lithium operation under its incentive regime for large investments (RIGI), Economy Minister Luis Caputo said on June 4.
Argentina warns Rockhopper over Falklands oil development
Argentina has warned UK-listed Rockhopper Exploration and its partner Navitas Petroleum that it considers planned oil development activities near the Falkland Islands (also known as Malvinas) unlawful, escalating a long-running sovereignty dispute.
Argentina's YPF, TGS sign $3bn Vaca Muerta gas processing project deal
YPF has signed a gas supply agreement with Transportadora de Gas del Sur (TGS) to support a planned $3bn gas processing and liquids fractionation project in Bahía Blanca that aims to industrialise output from the Vaca Muerta shale formation.
Argentina's YPF launches share buyback programme for employee compensation plans
Argentina's state-controlled oil company YPF has approved a share buyback programme worth up to ARS$38.47bn (about $26.8mn) to acquire its own stock for employee compensation plans, the company announced in a regulatory filing.
Brazil courts Japan, India, South Korea for oil sales as Hormuz closure bites
Brazil's Foreign Ministry is coordinating the sale of Brazilian crude oil to Japan and other Asian nations reeling from the closure of the Strait of Hormuz, as the war between Iran, the US, and Israel reshapes global energy flows.
Brazil targets 30% oil output rise by 2032 as Asia seeks alternatives to Iran
Brazil plans to increase oil production by around 30% by 2032, a level that would rank it among the world's five largest producers and position it as a key alternative supplier for Asian countries seeking to reduce dependence on Middle Eastern crude.
US delegation to press Venezuela for deeper oil sector reforms
A delegation of officials from the Trump administration is expected to travel to Venezuela in the coming days to encourage further changes to the country’s Hydrocarbons Law
Uruguay targets first offshore exploration well in 2027
Interest in Uruguay’s offshore acreage has grown following major discoveries since 2022 in Namibia’s Orange Basin
Venezuela expands energy outreach as Rodríguez follows India visit with Turkey stop
During her visit to India, Rodríguez met US Ambassador Sergio Gor as part of ongoing working groups between Caracas and Washington established after she assumed power
Indian energy ties with Venezuela deepen during Rodríguez visit
India signalled its willingness to expand its presence in Venezuela’s energy sector during talks in New Delhi between Oil Minister Hardeep Singh Puri and interim President Delcy Rodríguez
Brazil’s Petrobras ends diesel import freeze
Petrobras said it would resume diesel imports later this month after spending May supplying the Brazilian market solely with fuel produced at its own refineries.
Brazil wraps up first green platform scrap
Brazil completed its first large-scale offshore platform dismantling project this week after Ecovix finished decommissioning Petrobras’ former P-32 unit at the Rio Grande Shipyard in southern Brazil.
Brazil pushes green fuel shipping route
A consortium led by the Global Maritime Forum and RMI is developing plans for a green shipping corridor linking Brazil’s Port of Açu with the Port of Antwerp-Bruges in Belgium to support the production and transport of low-emission fuels.
Rockefeller targets 4mn Colombians without power with solar and battery push
The Rockefeller Foundation is channelling solar panels and battery storage towards the roughly 4mn Colombians still without electricity — most of them in the Amazon and the Llanos
Oil bonanza hands Colombia a fiscal lifeline worth a tax reform — without the politics
A surge in global crude prices, driven by the escalating conflict in the Middle East, is delivering Colombia an unexpected revenue windfall that analysts say could be worth as much as a full tax reform
Colombia's Amazon ballot — green legacy or oil revival at stake on June 21
Colombia's presidential run-off on 21 June pits two sharply contrasting visions against each other — one centred on environmental stewardship, the other on resource extraction — with profound consequences for the Amazon rainforest
Geopolitical crises are the new norm for energy markets
Geopolitical disruptions are becoming a permanent feature of global energy markets rather than isolated crises.
Mercuria acquires Shell’s Argentina downstream business in $1.42bn deal
Swiss energy trader Mercuria Energy Group has agreed to acquire the entire Argentine business operated by Raízen under the Shell brand for $1.42bn, taking control of 894 service stations, the Dock Sud refinery and other strategic fuel infrastructure
Vaca Muerta fracturing activity rebounds in May as shale oil drives growth
Hydraulic fracturing activity in Argentina's Vaca Muerta shale formation rose in May, reaching 2,484 fracture stages, up 6.3% from April and marking the second-highest monthly level of 2026.
Vaca Muerta seen as blueprint for Latin America's energy expansion
Energy industry leaders said Latin America has the resources needed to become a major global supplier of oil and natural gas, but warned that investment in infrastructure, regulatory stability and closer regional cooperation will be crucial.
Pemex investigates confirmed oil spill in Manzanillo Bay
Petróleos Mexicanos (Pemex) conducted inspections at its Terminal Marítima de Manzanillo following the discovery of an oil slick in Manzanillo Bay, Colima, on June 2. Three pipeline inspections were completed from June 2 to June 4.
TotalEnergies eyes higher gas production in Argentina to expand regional exports
France’s TotalEnergies plans to increase natural gas production from its Argentine operations, including offshore fields and the Vaca Muerta shale formation, to meet growing demand in domestic and regional markets, company executives said.
TGS project in Vaca Muerta nears $1bn financing package
Transportadora de Gas del Sur (TGS) is close to securing a financing package of about $1bn for its NGL Project in Argentina’s Vaca Muerta shale formation, with Citigroup, Banco Santander and JPMorgan among the lenders involved in the negotiations.
Mercuria completes $1.42bn acquisition of Raizen’s Argentina assets
Swiss commodities trader Mercuria Energy has completed the acquisition of Raizen’s downstream operations in Argentina for $1.42bn, taking control of the Dock Sud refinery, the Shell-branded service station network and other fuel-related assets.
Brazil’s Sergipe state moves to capitalise on Petrobras deepwater windfall
The northeastern Brazilian state of Sergipe is pushing to attract industries in fertilisers, cement, glass, and data centres as it seeks to convert a major investment pledge by state-owned oil company Petrobrast into lasting economic development.
Norway's Ocean Installer enters Brazil with Equinor's Bacalhau contract
Norway's Ocean Installer has secured its first Brazilian contract, a deal with compatriot Equinor to provide subsea installation services at the Bacalhau field in the Santos Basin.
Brazil's Origem Energia to invest $418mn in gas-fired power plants
Origem Energia, Brazil's fourth-largest natural gas producer, plans to invest BRL2.1bn ($418mn) through 2029 to build seven gas-fired thermal power plants, the company said, as it moves to become a fully integrated energy group.
Uruguay targets first offshore exploration well as interest grows in Atlantic basin
Uruguay is preparing to drill its first offshore exploration well in 2027, a milestone that could help determine whether the country shares the petroleum potential that has transformed exploration prospects on the opposite side of the South Atlantic
Venezuelan oil shipments to India climb as Rodríguez seeks deeper energy ties
Venezuela has strengthened its position in India’s crude market, emerging as the country’s third-largest oil supplier this month as acting President Delcy Rodríguez pursues closer energy cooperation with New Delhi
India signals support for deeper energy ties with Venezuela despite lack of formal agreements
India's officials suggested the discussions could help pave the way for greater involvement by Indian companies in Venezuela’s oil industry
PDVSA highlights state-led output gains as Venezuela targets higher crude production
According to figures cited by authorities, 61% of the total growth is attributable to the efforts of PDVSA and the Joint Ventures, reflecting increases of 102,000 and 166,000 bpd respectively.
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