LatAmOil - Latin America Oil & Gas
Sempra’s Energia Costa Azul exports first LNG cargo from Mexico plant
US LNG developer Sempra exported its first cargo from its Energia Costa Azul LNG project located in Ensenada, Mexico.
Ecuador reforms fuel pricing formula to cut diesel, petrol costs
Ecuador's government reformed its fuel-pricing mechanism on July 9, a move that will lower the cost of Extra and Ecopaís petrol, and diesel from July, the Presidency said in a statement. The change was formalised under Executive Decree 444
Cuba restores grid after eighth national blackout in a year
Cuba's National Electroenergy System was reconnected in the early hours of July 8, restoring power nationwide after the eighth total blackout the island has suffered in the past year
Cuba tells UN assembly US sanctions amount to 'energy siege,' seeks action
Cuba's foreign minister, Bruno Rodríguez Parrilla, told the UN General Assembly that Washington was conducting an "energy siege" against the island and called on the body to act against US sanctions
Former Pemex CEO arrested for alleged domestic violence
According to the Mexican National Registry of Detentions, Víctor Rodríguez Padilla, President Claudia Sheinbaum-appointed former CEO of Petróleos Mexicanos (Pemex), was arrested on July 7 in relation to a video of him assaulting his wife.
Pemex sales of domestic fuel rise above pre-pandemic levels in first half of 2026
According to the Mexican state oil firm's institutional database, Petróleos Mexicanos (Pemex) sold 29.42bn litres of petroleum products domestically, showing an 8.6% rise from the same period last year and the highest volume since 2019.
Petroecuador cleans up 24,000 cubic metres of contaminated Amazon soil
State oil firm Petroecuador remediated more than 24,000 cubic metres of contaminated soil in Orellana and Sucumbíos provinces between January and June 2026.
Bolivia's YPFB to post 'very worrying' reserves data as gas output hits 19-year low
Bolivia's state energy firm YPFB will present a new hydrocarbon reserves certification in the coming days that will reveal a "very worrying" outlook for the country's natural gas availability.
Brazil’s Petrobras gets $524mn in diesel subsidies, okays $58mn well-compliance deal
Petrobras received about BRL2.7bn ($524mn) from the federal government under a diesel subsidy programme, while it also agreed to pay Brazil's oil regulator BRL300mn to bring hundreds of offshore wells into environmental and safety compliance.
Vitol eyes Venezuela expansion as oil sector draws fresh investor interest
Commodity trader Vitol is preparing to establish a presence in Venezuela as international interest in the country's oil industry gathers pace
Venezuela reshuffles energy and economic posts amid reconstruction drive
Venezuela's interim President Delcy Rodríguez has appointed José David Cabello, Diosdado Cabello’s brother, to lead state-owned petrochemical company Pequiven, extending a broader reshuffle of senior economic officials
Venezuela enacts hydrocarbons rules to open sector to private investment
Venezuela's government has enacted regulations implementing reforms to the Organic Hydrocarbons Law, completing a legislative overhaul designed to expand private participation in the country's oil and gas industry
Venezuela's oil output holds steady after earthquakes, industry representative says
Venezuela's crude production and refining operations continued without interruption following the June 24 earthquakes, according to Reinaldo Quintero, president of Petropymi
Petrobras awards Brazil offshore ROV contract
Oceaneering International said its Brazilian subsidiary, Marine Production Systems do Brasil (MPS), has secured a four-year contract from Petrobras to provide remotely operated vehicle (ROV) services offshore Brazil.
Cuba tells UN blockade cost reached record $8bn in latest year as support for debate vote erodes
Cubans bang pots in street protests as third nationwide blackout of 2026 leaves island in darkness
Low-cost deepwater barrels keep Guyana and Brazil at the centre of FPSO investment
Low production costs are reinforcing Guyana and Brazil's position as leading global deepwater oil producers, with MODEC identifying both countries as priority markets for continued FPSO investment despite oil price uncertainty.
Colombia looks to Guyana as incoming government prioritises gas and regional security
Colombia's incoming government is positioning Guyana as a key strategic partner, combining gas sector cooperation with regional security as Bogotá seeks to revive hydrocarbons investment and strengthen its diplomatic influence.
Suriname faces shrinking window to build local capacity before offshore oil production
Suriname has less than two years to strengthen local content rules, workforce skills and institutional capacity before offshore oil production begins in 2028. Industry leaders warn the current pace of preparation is insufficient.
Suriname tests investor appetite with first challenge round under revamped offshore licensing model
Suriname has opened a competitive bidding window for the DW WEST offshore block in Sector 4, providing the first major test of its flexible open door licensing model as it seeks to expand exploration beyond GranMorgu.
Trinidad targets oil recovery through mature fields as output forecast rebounds by 2029
Trinidad and Tobago expects oil production to recover to 74,600 b/d by 2029 as mature field optimisation, enhanced recovery techniques and targeted drilling reshape the country's upstream strategy.
Latin America oil output jumps 27% in February as Brazil, Argentina and Mexico drive growth
Latin America and the Caribbean produced 377mn barrels of oil in February, OLADE said, up 27% from a year earlier, as higher output in Brazil, Argentina and Mexico lifted regional supply amid disruptions linked to tensions in the Middle East.
Mexico's Pemex proven reserves down 40% since 2014
Mexican state oil firm Petróleos Mexicanos (Pemex) reported that proven oil and gas reserves sat at around 7.47bn barrels of crude oil as of December 31, 2025, marking a 40% decrease from 2014.
President-elect faces three pivotal decisions on Colombia's Ecopetrol
Colombia's president-elect, Abelardo de la Espriella, will need to decide the direction of state oil company Ecopetrol on fracking pilots, the future of power transmission group ISA, and gas imports from Venezuela once he takes office
Latin American countries import 55% more LNG from US in June
US liquefied natural gas exports to Latin America and the Caribbean hit a 37-month peak in June, reaching 48.84bn cubic feet (1.38bn m3), S&P Global reported.
Trinidad and Tobago oil sector projected to make rampant recovery by 2029
Trinidad and Tobago's oil output is forecast to climb to 74,600 barrels per day (bpd) by 2029, Energy and Energy Industries Minister Dr Roodal Moonilal announced, representing a notable reversal after years of production decline.
Guyana leads Latin American offshore drilling activity in first half of 2026
Latin America's offshore drilling activity remains concentrated in Guyana even as the region trails a decade-long downward trend, a report by the Energy Chamber of Trinidad and Tobago showed.
Bolivia rolls out emergency decree package on fuel, trade, pensions after currency float
Bolivia's government has enacted a package of supreme decrees covering fuel, trade, electricity, pensions and mining, published in the Official Gazette on July 1.
Global energy companies pledge support for Venezuela after earthquakes
Several international energy companies have expressed support for Venezuela's response to the earthquakes that struck the country on June 24, with Shell committing $5mn in humanitarian assistance while other major firms have voiced solidarity.
Fitch says Colombian gas ratings stable despite Canacol restructuring as national output slumps
Fitch Ratings said that Colombian midstream and gas distribution companies' credit ratings are expected to remain stable despite mounting pressure from the restructuring of Canacol Energy Limited, whose gas output has fallen sharply
Venezuela’s Amuay refinery restarts after earthquake-related power outage
Venezuela’s largest oil refinery has resumed operations after a power disruption caused by last week’s earthquakes, according to people familiar with activity at the facility
Can pipelines keep up with Argentina oil output nearing 1mn bpd?
Argentina's crude oil production exceeded 900,000 barrels per day for the first time in May, reaching a record 903,700 bpd as output from the Vaca Muerta shale formation continued to drive growth, strengthening the country's energy sector.
Cold snap and LNG price surge squeeze Argentine manufacturers' gas supply
Argentina's winter cold spell has forced 500-600 smaller factories to suspend or scale back operations as gas supply restrictions and soaring LNG prices leave many manufacturers choosing between halting production and paying higher fuel prices.
Vaca Muerta posts record fracking activity in June as shale development accelerates
Argentina's Vaca Muerta recorded its busiest month ever for hydraulic fracturing in June, completing 2,760 fracking stages and lifting the total for the first half of 2026 to 14,958.
Falklands oil project fuels sovereignty dispute as Sea Lion advances
A planned offshore oil development north of the Falkland Islands is set to intensify diplomatic tensions between Argentina and the United Kingdom, as the Sea Lion project moves towards first commercial production in 2028.
Brazil to unwind diesel subsidy more gradually than petrol benefit, minister says
Brazil's government will take longer to remove its diesel subsidy than the one applied to petrol, given the need to avoid sudden price increases or supply shortages even as global oil prices have fallen.
Brazilian firms unveil $1.5bn plan for 2,000-truck LNG heavy transport fleet
Nimofast, Edge and Green Cargo are coordinating a BRL8bn ($1.5bn) project to deploy 2,000 liquefied natural gas (LNG) powered trucks, targetting the country's largest long-distance road transport network running on the fuel.
Brazil antitrust body clears Petrobras' entry into Campos Basin gas block from Equinor
Brazil's antitrust regulator Cade has approved without restrictions the acquisition by state-owned oil company Petrobras of a 50% stake in the Itaimbezinho exploration block from Norway's Equinor.
MODEC's Brazil-bound FPSO hull departs Japan for integration in China
MODEC said that the forward hull section of a FPSO vessel destined for a Shell-operated field offshore Brazil had left Japan and was en route to China for integration with the vessel's aft hull section.
OPEC+ members stick together with latest output raise
OPEC+’s seven core producers have agreed a modest easing of voluntary supply curbs from August, signalling a cautious, coordinated shift in strategy rather than a wholesale change of direction.
US deports Cuban accused of running influence network that brought streamer Hasan Piker to Havana
Cuba's 176-measure free-market overhaul fails to move Washington as new sanctions follow
Cuba's foreign minister rejects US national security threat label as diplomatic talks fail to advance
US sanctions Mexican nationals and companies over cartel-linked fuel-smuggling operation
The United States Treasury Department announced on June 30 it had sanctioned two Mexican citizens and nine firms involved with a cartel fuel smuggling scheme designed to bring untaxed fuel from the US to Mexico.
Guyana's subsea services market signals long-term confidence in Stabroek expansion
DOF Group's three-year Skandi Involver contract points to Exxon's Stabroek partners planning offshore Guyana operations well into the next decade.
Brazil, Bolivia to accelerate Petrobras-YPFB gas talks, Lula says
Brazil and Bolivia will speed up negotiations between state-owned oil companies Petrobras and Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) to boost natural gas production, Lula da Silva said after meeting his Bolivian counterpart Rodrigo Paz.
Brazil, Bolivia to accelerate Petrobras-YPFB gas talks, Lula says
Brazil and Bolivia will speed up negotiations between state-owned oil companies Petrobras and Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) to boost natural gas production, Lula da Silva said after meeting his Bolivian counterpart Rodrigo Paz.
Venezuela bonds slide as earthquake damage clouds debt restructuring outlook
Venezuelan sovereign bonds and debt issued by state-owned PDVSA have extended their decline after last week's earthquakes, as investors reassess the country's economic prospects and brace for a tougher debt restructuring
Venezuela oil output poised to recover as US broadens export authorisations
Expanded US authorisations for companies trading Venezuelan crude are set to lift the country's oil production back to levels seen before Washington's December naval blockade by the end of the second quarter of 2026
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