LatAmOil - Latin America Oil & Gas
Venezuela's Rodríguez, US delegation review energy cooperation and earthquake response
Venezuela and the US have signed a Framework Confidentiality Agreement and a Technical and Financial Alliance between state-owned PDVSA and Shell
Venezuela's refining industry lags as oil output recovers
Venezuela's refining industry remains mired in disrepair despite a rebound in crude production and renewed interest from foreign energy companies, underscoring the scale of investment needed to restore the country's ageing fuel-processing network
Ecoanalítica sees Venezuela economy growing despite earthquake damage
The consultancy expects oil to remain the main engine of growth, forecasting crude output will rise 16.9% this year to 1.3mn barrels per day (bpd), led by private-sector activity
Colombia's Ecopetrol launches tender to secure LNG imports for Buenaventura terminal
Ecopetrol has opened a public competitive tender to procure liquefied natural gas (LNG) for its planned regasification terminal in Buenaventura, as the Colombian state-controlled energy company seeks to strengthen the country’s gas supply
Colombia's SPEC schedules regasification terminal maintenance ahead of El Niño
Colombia's Sociedad Portuaria El Cayao (SPEC) will carry out scheduled maintenance at its Cartagena regasification terminal from July 30 to August 3, following coordination across the energy sector to prepare the country's gas infrastructure
US targets Cuban energy firms with new sanctions on gas imports and oil research
The US imposed fresh sanctions on three Cuban energy companies, including a state-owned petroleum research entity and two gas importers, expanding measures against the island's energy sector under Executive Order 14404, the US State Department said
Venezuela’s oil billions expose the price of US control
The Trump administration’s refusal to provide a clear account of more than $13bn in Venezuelan oil revenue is becoming increasingly difficult to defend.
Middle East tensions push Mexican crude export price above forecasts
The export price of Mexican crude oil closed at $79.19 per barrel on July 27, a 4.67% rise from the roughly $53 per barrel recorded in late 2025, as escalating tensions in the Middle East lifted global energy markets and boosted revenue prospects.
Guyana and Suriname poised to become regional natural gas leaders
Guyana and Suriname possess substantial natural gas resources that could position both countries as regional energy exporters, according to analysis from Wood Mackenzie.
Talos Energy to farm into Repsol's Block 29 development off Mexico
US-based Talos Energy Inc. (NYSE: TALO) announced on July 27 it has signed a definitive agreement to acquire a 50% working interest in the Block 29 development off the coast of Mexico, operated by Spanish firm Repsol.
IMF chief visited Vaca Muerta after meetings with Milei and Caputo
Argentina’s Economy Minister Luis Caputo said on July 27 that IMF Managing Director Kristalina Georgieva had shown particular interest in the country’s energy sector and travelled to oil-rich Vaca Muerta in Neuquén province.
Argentina-Brazil gas project highlights strategic trade ties despite political tensions
Argentina and Brazil are pursuing a major regional infrastructure initiative to supply Brazilian markets with gas from the Vaca Muerta shale formation through Bolivia.
Colombia tightens grid resilience ahead of strong El Niño
Colombia has adopted new measures to strengthen the resilience and reliability of its national electricity grid as authorities prepare for the potential impact of a strong El Niño weather event, the Ministry of Mines and Energy said
Colombia's Ecopetrol seeks removal of leaked files after cyberattack
Ecopetrol is working with Colombian authorities to remove confidential information illegally published online following a cyberattack disclosed earlier in July 2026
Venezuela’s top court clears Halliburton to resume oilfield services operations
Venezuela’s Supreme Court of Justice authorised Halliburton to restart operations in the country, saying the continued suspension of the US oilfield services company’s activities could damage state assets
Trump deflects questions over $13bn in Venezuelan oil revenue
US President Donald Trump declined to provide details about the whereabouts of at least $13bn in proceeds from Venezuelan oil sales administered by the US government since Nicolás Maduro was captured in January
Venezuela’s El Palito refinery to shut for up to four weeks for maintenance
PDVSA plans to temporarily close the 146,000-barrel-a-day refinery in Carabobo state for a comprehensive assessment of its facilities
Venezuela reviews second-half oil targets as Orinoco Belt production drive intensifies
Venezuela’s hydrocarbons authorities met in southern Anzoátegui state to assess oil production targets for the second half of 2026, as the government seeks to strengthen operations across the Hugo Chávez Orinoco Oil Belt
Iran says European warships near Hormuz are legitimate targets
Any European warship approaching the Strait of Hormuz is a legitimate target, Iran's deputy foreign minister for legal affairs has said, adding that Tehran's policy is that the waterway will never return to its pre-war condition.
Argentina and Neuquén province reach new oil and gas output record
Neuquén province achieved record hydrocarbon output in June, producing 648,114 barrels of oil per day and 118.64mn cubic metres of gas daily, the provincial government publicly announced.
Guyana seizes competitive advantage through its light crude oil
Guyana's crude has long attracted refiners for its light, sweet chemical composition, however its environmental qualities are emerging as a selling point.
Argentina's energy trade surplus reaches highest first-half level in a decade
Argentina recorded its strongest energy trade balance for the first six months of the year in more than a decade, with the sector's surplus increasing by $2.2bn from the same period in 2025.
Argentina's YPF sets new hydraulic fracturing record at Vaca Muerta
Argentine state-controlled energy company YPF has set a new operational record at the Vaca Muerta shale formation after completing 203 consecutive hours of hydraulic fracturing at the Bandurria Sur block, the company said.
Argentina's oil output reaches record high as Vaca Muerta shale boom accelerates
Argentina's crude oil production climbed to a record 887,227 barrels per day in May 2026, while natural gas output also posted strong growth, driven by expanding activity in the Vaca Muerta shale formation.
Argentina's Neuquén posts record o&g production in June as Vaca Muerta drives growth
Argentina's Neuquén province reached record levels of oil and natural gas production in June 2026, driven by continued expansion in the Vaca Muerta shale formation, with crude output climbing to 648,114 barrels per day.
Paraguay delays higher biodiesel mandate after industry raises technical concerns
Paraguay has delayed its planned biodiesel increase after industry concerns over fuel quality and vehicle compatibility, exposing the operational challenges of balancing energy transition goals with market readiness.
Argentina's Vista Energy seeks RIGI incentives for $5.8bn Vaca Muerta expansion
Vista Energy has formally applied to join Argentina's Large Investment Incentive Regime (RIGI), committing to invest $5.8bn in expanding oil production at the Vaca Muerta shale formation.
Cheaper Brazilian and Guyanese crude challenges West Africa's export dominance
Latin American crude is displacing West African grades in Europe and China as lower prices outweigh stronger refining yields, signalling a structural shift in global oil trade and pricing dynamics.
Guyana’s offshore oil boom brings a long-term liability into sharper focus
While Guyana’s offshore oil sector is defined by rapid production growth, regulators and operators are increasingly confronting a less visible challenge: ensuring the country is prepared for the eventual retirement of its offshore infrastructure.
Venezuela holds July 28 deadline for oil contract overhaul as talks accelerate
Venezuela is pressing foreign oil companies and other partners of state producer PDVSA to complete the restructuring of their contracts by July 28
PDVSA reclaims direct oil sales as refiners challenge global traders
The move puts the state oil producer at odds with traders including Vitol and Trafigura, which currently account for a large share of Venezuelan exports
Batista brothers acquire Venezuelan oil stake as US-backed reopening draws investors
Brazilian billionaires Joesley and Wesley Batista are expanding their presence in Venezuela’s oil sector as US-backed efforts to reopen the country’s energy industry attract new private investment
Former PDVSA president questions US control of Venezuela oil revenue
Venezuela’s oil exports generated an estimated $14.3bn in the first half of 2026, but the destination and management of those proceeds remain unclear, according to former Petróleos de Venezuela President Rafael Ramírez
Venezuela’s growth outlook holds despite earthquakes, economist says
Venezuela is currently producing about 1.187mn barrels of oil a day, with output expected to reach 1.3mn barrels by year-end under a conservative scenario
Venezuela bondholder group grows as investors prepare for debt talks
Investors holding Venezuela’s defaulted debt are building a broader coalition as prospects for a potential restructuring improve following the US capture of Nicolás Maduro
KOIL makes Brazil offshore debut
US-based KOIL Energy has secured its first contract in Brazil, winning a subsea umbilical maintenance project that marks its entry into the country's deepwater offshore market.
Brazil FPSO beats performance target
Karoon Energy said its floating production, storage and offloading (FPSO) vessel operating at the Baúna oil field offshore Brazil achieved production efficiency of 97% during the second quarter, exceeding the company's target range of 90% to 95%.
Brazil’s Petrobras P-52 return put on hold
Brazil’s Petrobras has postponed the restart of its P-52 offshore production platform after a gas leak last year, with no date yet set for operations to resume, the company said.
Portugal's Galp enjoys 45% climb in profits on rising Brazilian output, Iran fallout
The result exceeded the company-compiled analyst consensus of €494mn.
Brazil extends gasoline subsidy again as government resists reinstating diesel relief despite oil near $100
Brazil's government has extended a subsidy of $0.08 per litre for gasoline for a further 30 days the Finance Ministry said, as rising oil prices driven by the escalating Middle East conflict pushed Brasília to keep intervening in fuel markets.
SLB OneSubsea submits lowest bids in Brazil’s Petrobras tender for 32 subsea trees
SLB OneSubsea submitted the lowest bids in a tender by Petrobras for the supply of 32 subsea trees and related subsea equipment for the Sergipe Deepwater (SEAP) project, according to data released by procurement platform Petronect.
France’s Vallourec wins Allseas contract to supply pipes for Petrobras-operated Atapu 2 project
French pipe maker Vallourec has secured a contract from offshore contractor Allseas to supply carbon steel seamless line pipes and thermal insulation coating for the Atapu 2 offshore oil project in Brazil.
Argentina’s Adecoagro to buy Brazilian sugar mill from Raízen for $148mn
Argentine agribusiness firm Adecoagro has agreed to buy the Caarapó sugar mill in Brazil's Mato Grosso do Sul state from Raízen for BRL760mn ($148mn), as it seeks to expand its sugar, ethanol and energy business.
Brazil's oil royalties hit $7.2bn in first half, boosted by Middle East crude rally
Brazil collected BRL36.5bn ($7.2bn) in oil royalties in the first half of the year, with a quarter of the total driven by a surge in crude prices linked to conflicts in the Middle East, the Brazilian Petroleum, Gas and Biofuels Institute (IBP) said.
Brazil needs more auctions, fewer licensing hurdles to boost oil reserves, say experts
Brazil drilled just 19 exploratory wells in 2025, well below the levels needed to replenish its oil reserves, according to industry executives and experts, who called for more auctions and fewer environmental licensing hurdles.
Repsol CEO says Venezuela debt talks can wait as company prioritises production
Repsol Chief Executive Officer Josu Jon Imaz said the Spanish energy company is focused on expanding oil and gas output in Venezuela rather than resolving billions of euros in historical debt owed by state oil producer PDVSA
Repsol expects four more Venezuela oil shipments by year-end
Repsol expects to receive four additional cargoes of Venezuelan crude before the end of the year as part of agreements that allow the Spanish energy company to expand gas and oil operations in the country while recovering outstanding payments
Trump administration faces questions over $13bn in Venezuelan oil revenue
The Trump administration is facing mounting scrutiny over more than $13bn in Venezuelan oil revenue collected since January, with lawmakers and economists pressing Washington to disclose how the money is being managed
OPEC and the next surplus
A post-war return of constrained barrels could tip today’s uneasy balance into oversupply, forcing OPEC+ back into a market-share struggle it may no longer control.
Chevron sues Ecuador in US court to enforce $224mn arbitration award
US oil major Chevron and its subsidiary TexPet have opened a new chapter in their long-running dispute with Ecuador.
Eco Atlantic advances Namibia, Guyana and South Africa exploration partnerships
Eco (Atlantic) Oil & Gas said it made significant progress across its Atlantic Margin exploration portfolio during the financial year ended March 31, as agreements with BP and Navitas Petroleum advanced projects in Namibia, Guyana and South Africa.
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