LatAmOil - Latin America Oil & Gas
Axess Group wins contracts for Golar LNG floating units assigned to Argentina LNG project
Norwegian asset integrity specialist Axess Group has secured contracts from Golar LNG to provide maintenance and integrity management services for two floating liquefied natural gas (FLNG) units that are scheduled to operate at Argentina's LNG export
Petroecuador dispatches 45.8mn barrels of fuel in first half of 2026
Ecuador's state-owned oil company Petroecuador dispatched more than 45.8mn barrels of fuel between January and June 2026, the firm said on July 14.
Uruguay to keep monthly fuel pricing review despite oil market volatility
Uruguay's government will maintain its regular process for setting domestic fuel prices despite recent swings in international crude markets, Industry, Energy and Mining Minister Fernanda Cardona said
Shell moves Venezuela's Dragon gas project forward with drilling tender
The contract is expected to be awarded by the end of September, although it will only become effective if the partners make a final investment decision on the 119bn cubic metres development
Argentina launches international tender for offshore hydrocarbon exploration
Argentina's government has launched an international tender for offshore hydrocarbon exploration in the CAN_200 block of the North Argentina Basin, aiming to assess the area's energy potential and attract investment through a competitive bidding.
Guyana pushes Berbice exploration as government sets tight mobilisation deadline
Guyana has given the Dominican Republic-led Berbice Block consortium up to six months to begin offshore exploration, underscoring a tougher government approach aimed at accelerating investment beyond the country's producing oil fields.
New basin model reshapes expectations for Suriname’s offshore exploration frontier
New geological modelling suggests Suriname's offshore challenges stem from petroleum generation and migration rather than reservoir quality, highlighting why Guyana's Golden Lane has consistently outperformed neighbouring acreage.
Brazil pre-salt project starts oil flow
Brazil rejects ethanol tariff talks
Brazil has ruled out lowering tariffs on ethanol imports as part of ongoing trade negotiations with the United States, Trade Minister Marcio Elias Rosa said.
Argentine oil well breaks Vaca Muerta output record
A single well in Argentina’s Río Negro province reached an output of 2,700 barrels per day at the end of October 2025, the highest daily peak across all of Vaca Muerta.
Brazil’s Petrobras completes acquisition of exploration block off São Tomé and Príncipe
Petrobras has completed the acquisition of a stake in, and assumed operations of, Block 3, an offshore exploration block located in São Tomé and Príncipe, off the coast of Africa.
Enersea unveils LNG loading platform concept for South American export projects
Dutch offshore engineering company Enersea has introduced a liquefied natural gas (LNG) loading platform concept designed for shallow offshore and nearshore developments.
Mexico names 2,163 fuel stations for breaching price caps on diesel
The Mexican government published a list on July 12 naming 2,163 service stations that had not complied with a voluntary agreement to cap prices on diesel, as authorities sought to maintain prices through the global fuel price shock from the Iran war.
Phoenix well in Río Negro extends Vaca Muerta's productive frontier eastward
A horizontal shale oil well drilled by Phoenix Global Resources in Argentina's Río Negro province has emerged as one of the highest-performing wells in the Vaca Muerta formation, challenging previous assumptions about the area's commercial potential
Venezuela’s El Palito restarts FCC unit, boosting fuel production after earthquakes
Workers at the 146,000-barrel-a-day El Palito refinery said the facility has been gradually bringing processing units back online in recent days after the twin earthquakes left the plant without electricity
Venezuela oil output holds at 1.2mn barrels a day despite earthquakes
Rodríguez said crude output had continued uninterrupted despite the twin earthquakes, which measured 7.2 and 7.5 and, according to official figures, killed more than 4,500 people and injured nearly 17,000
Rodríguez says oil growth to underpin Venezuela’s La Guaira reconstruction
Interim President Delcy Rodríguez said Venezuela's oil sector and broader economy remain resilient despite the destruction caused by the June 24 earthquakes, pledging to rebuild the heavily affected state of La Guaira
Trump says US controls Venezuelan oil, signals push for allies to share security costs
US President Donald Trump said the US controls Venezuela's vast oil resources, linking the country's energy wealth to a broader argument that Washington should be compensated by allied nations
Vaca Muerta could generate up to 90,000 jobs as development accelerates, YPF CEO says
Argentina’s Vaca Muerta shale formation could create more than 90,000 jobs at peak activity as large-scale oil and gas development gathers pace, YPF President and Chief Executive Horacio Marín said.
ExxonMobil closes in on Trinidad and Tobago offshore block
ExxonMobil has almost completed its seismic acquisition on the TTUD-1 Block offshore Trinidad and Tobago, potentially propelling production to 74,600 barrels per day by 2029 following years of decline.
Guyana rakes in almost $2bn in petroleum revenues in H1 2026
Guyana accumulated nearly $2bn in petroleum revenues during the first half of 2026, according to Official Gazette notifications.
ExxonMobil advances ultra-deepwater appraisal as Trinidad eyes next exploration frontier
ExxonMobil has nearly completed seismic acquisition on Trinidad and Tobago's TTUD-1 ultra-deepwater block, with geological interpretation now set to determine whether the frontier acreage contains commercially viable drilling prospects.
Suriname’s Block 52 gains geological backing as basin study sharpens exploration focus
A new geological study identifies the area surrounding Suriname’s Block 52 as the basin’s strongest oil-generating zone, providing scientific backing for recent discoveries and strengthening confidence in future offshore developments.
Suriname’s offshore licensing model draws fresh interest as competition widens beyond flagship acreage
Suriname's open-door offshore licensing programme has attracted a fourth proposal, extending investor interest beyond flagship deepwater acreage and reinforcing competition across the Guyana-Suriname Basin.
Bolivia freezes fuel prices for a year, sets dollar linked pricing formula for 2027
Bolivia's government will keep petrol, diesel and other fuel prices frozen for the next 12 months, before introducing a new pricing mechanism tied to international oil prices and the average dollar exchange rate.
US LNG exports to Latin America unlikely to stay at three-year high as regional supply pressures ease
Guyana shifts oil localisation drive towards equal pay for skilled workers
Guyana's oil industry is entering a new phase as operators back equal pay for qualified local workers, highlighting the country's shift from expatriate dependence towards a mature, skilled domestic offshore workforce.
Guyana’s offshore boom shifts labour challenge from oilfields to maritime logistics
Guyana's oil expansion is creating a less visible but increasingly critical challenge: building the skilled maritime workforce needed to sustain offshore operations as production and vessel traffic continue to accelerate.
Guyana tests credibility of new oil licensing regime
Guyana has given Cybele Energy until the end of July to pay a $17mn signing bonus or risk losing its offshore oil licence, highlighting Georgetown's determination to enforce stricter petroleum contracts.
LNG Alliance targets Argentina for expansion after advancing Mexico export project
Singapore-based LNG Alliance is preparing to expand into Argentina as it evaluates liquefied natural gas (LNG) export opportunities in the country, following progress on its $3.5bn Amigo LNG project in Mexico.
Archer secures $90m drilling rig contract from YPF for Vaca Muerta expansion
Oilfield services company Archer has been awarded an additional five-year contract by YPF to supply a super-spec drilling rig for Argentina's Vaca Muerta shale formation, expanding its fleet in one of the world's busiest unconventional oil and gas.
Pemex repairs third fuel oil pipeline leak in Salina Cruz in less than a month
Mexican state oil company Petróleos Mexicanos (Pemex) announced it had completed its third repair in less than a month on a fuel oil pipeline on July 8. The leak was in Salina Cruz, Oaxaca, in the Jardines neighborhood.
Petroleum coke exports from Pemex's Dos Bocas rebound after troubled period
Market participants said the availability of petroleum coke produced at Petróleos Mexicanos’s (Pemex) Olmeca refinery at Dos Bocas in Tabasco has risen in recent weeks. This is after technical problems have curbed exports for much of this year.
Ecopetrol faces governance scrutiny as Colombia's incoming government targets pipeline subsidiary
Colombia's incoming government has launched its first anti-corruption probe against Ecopetrol's pipeline subsidiary Cenit, raising fresh governance questions around Latin America's largest listed oil producer.
TotalEnergies ships first LNG cargo from new Mexican Pacific coast facility
TotalEnergies, French-based energy firm, has shipped the first liquefied natural gas (LNG) cargo from ECA LNG Phase 1, a newly commissioned export terminal in Ensenada, Baja California, marking the opening of Mexico’s first LNG export facility.
OPEC’s leverage narrows as war and exits reshape supply
Sanctions on Iran, war‑time disruptions and the UAE’s departure from OPEC have eroded the cartel’s capacity to shape prices, leaving it increasingly reactive and internally constrained
Carlos Slim expresses strong optimism for the future of Mexican oil
Carlos Slim, chairman of Grupo Carso and Latin America's richest man, said on July 8 he expected Mexico's oil production to recover to between 2mn and 2.5mn barrels per day (MMb/d) in the coming years, a reversal from remarks he made five weeks ago.
Pumpco-Bonatti consortium wins $1.2bn Argentina's Vaca Muerta LNG pipeline contract
A consortium led by US-based Pumpco and Italy's Bonatti has been awarded the contract to build Argentina's largest-ever gas pipeline, a $1.2bn project that will link the Vaca Muerta shale formation to an LNG export terminal in Sierra Grande.
Argentina posts record first-half energy trade surplus as exports surge
Argentina recorded its largest-ever energy trade surplus for a first half, reaching more than $6.98bn between January and June 2026, as higher hydrocarbon production and rising exports drove the sector's strongest performance on record.
Saipem-Subsea 7 merger to face EU probe
Italian energy services group Saipem's proposed merger with Norway's Subsea 7 is expected to face a full European Union antitrust investigation over competition concerns.
Colombia's outgoing government to submit fracking ban bill ahead of transition
Colombia's Ministries of Mines and Energy and of Environment will submit a bill to Congress on July 20 seeking a definitive ban on hydraulic fracturing, or fracking, in the country, Mines and Energy Minister Edwin Palma said.
Acquittal of five defendants in Argentina's Plaza Huincul refinery explosion case becomes final
A court ruling acquitting five defendants charged over the 2022 explosion at the New American Oil refinery in Plaza Huincul has become final after neither prosecutors nor private plaintiffs filed appeals within the legal deadline.
War in Iran set to weigh on Latin America throughout 2026, ECLAC warns
The war between the US, Israel and Iran will continue to weigh on Latin American and Caribbean economies for the rest of 2026, even if last month's fragile ceasefire holds, the UN's regional economic body has warned.
Argentina's Neuquén enacts law backing YPF LNG project with 30-year fiscal stability
Argentina's Neuquén Province has enacted legislation approving an agreement with state-controlled energy company YPF to support the development of a liquefied natural gas (LNG) project linked to the Vaca Muerta shale formation.
Argentina abolishes special gas transport tariff regime, moves to unified pricing system
Argentina's government has overhauled the country's natural gas transport tariff framework by eliminating a long-standing special pricing regime and introducing a unified tariff system for pipeline infrastructure through an emergency decree.
YPF targets 2027-2028 for Uruguay offshore drilling as Ancap urges caution
Argentina's state-controlled oil company YPF plans to drill an exploratory well in the OFF-5 offshore block off Uruguay's coast between late 2027 and early 2028, chief executive Horacio Marín said, but Uruguay's ANCAP president tempered expectations
Venezuela faces pressure to fast-track landmark debt overhaul after earthquakes
The government aims to complete the initial stages of restructuring sovereign and PDVSA debt, launched in May, by November to unlock foreign investment in sectors including oil and power
Wildcatters rush into Venezuela oil bet despite earthquake fallout
Independent oil investors are pressing ahead with plans to re-enter Venezuela following the US capture of Nicolás Maduro, betting they can revive the country's struggling energy sector despite the disruption caused by earthquakes
Venezuela uses oil windfall and tight liquidity to bring exchange rates closer
Venezuela has reduced the difference between its official exchange rate and the parallel market by combining larger dollar sales with tighter monetary policy, easing pressure on prices even as the economy faces fresh disruption from two earthquakes
Karoon lifts Brazil oil output after well restart
Equinor advances Brazil gas project
Brazil’s PetroReconcavo June output edges higher
PetroReconcavo produced 24,000 barrels of oil equivalent per day (boe/d) in June, up 0.8% from the previous month but 10.4% below the level recorded a year earlier, the Brazilian independent oil producer said.
Russia diesel ban poses limited near-term risk for Brazil
Russia's temporary ban on diesel exports has raised concerns for Brazil, one of Moscow's largest overseas buyers, but the immediate impact is expected to be limited.
China pullback hits Brazil oil prices
Weaker Chinese demand for Brazilian crude and rising output from Brazil have pushed cargo prices to their lowest levels in more than six years, according to traders and refining sources cited by Platts, part of S&P Global Commodity Insights.
Venezuela sets oil tax framework under new hydrocarbons regulations
Venezuela's new regulations implementing the reformed Organic Hydrocarbons Law have taken effect following their publication in Extraordinary Official Gazette No. 7.052
Venezuela oil rules remove PDVSA from industry framework
Venezuela's interim government has unveiled sweeping oil regulations that dismantle the long-standing dominance of Petróleos de Venezuela SA over the country's energy industry, opening every stage of the business to private operators
Bolivia's YPFB targets month-end fix for fuel shortage as drivers threaten renewed protests
Bolivia's state oil company YPFB expects to resolve the country's latest fuel supply crisis by the end of July, according to deputy chief Víctor Hugo Blacud.
Bolivia opens talks with Petrobras to expand Brazilian firm's role in gas sector
Bolivia's government has launched technical negotiations with Petrobras aimed at expanding the Brazilian oil major's participation in the country's hydrocarbons sector, which has been hit by years of declining natural gas production.
Bolivia to hold technical talks with Petrobras on production return, YPFB restructuring
Bolivia will launch technical talks next week with Brazil's state-run oil firm Petrobras on a possible return to exploration and production in the country, Energy Minister Marcelo Blanco said on July 9.
Colombia risks energy crisis as potential super El Niño looms, report warns
Colombia faces a growing risk of energy crisis this year as a potential Super El Niño threatens to curb hydroelectric output just as the country's dependence on costly liquefied natural gas imports deepens
Colombia cuts energy poverty by 1.7 points in a year, ministry reports
More than 1.5mn Colombians, spanning roughly 490,000 households, moved out of energy poverty over the past two years
Follow us online