LatAmOil - Latin America Oil & Gas

China snaps up US-seized Venezuelan crude

China has purchased Venezuelan crude oil that was sold by the US following Washington’s seizure of President Nicolás Maduro in January and a number of the country’s oil tankers.

Trinidad and Tobago's Atlantic LNG shuts down second liquefaction train in February

Atlantic LNG has shut down Train 3 for emergency repairs.

Colombia eyes cheaper Venezuelan gas as sanctions ease and Bogotá seeks energy relief

Colombia's president Gustavo Petro announced that his government would begin importing natural gas from Venezuela at significantly reduced prices, signalling a notable shift in the country's energy strategy

Vista Energy credit profile bolstered by $712mn Argentina asset deal, Fitch says

Vista Energy’s agreement to acquire non-operated interests in Argentine energy assets from Equinor is a "credit positive" development that will significantly increase the firm's production scale and reserves, Fitch Ratings reported.

Bolivia vice-president files corruption complaint over state oil contracts

Political tensions in Bolivia have intensified after Vice-President Edmand Lara lodged a criminal complaint against the head of state oil company YPFB, accusing its president Yussef Akly of irregular fuel procurement deals.

Fitch upgrades GeoPark outlook on Colombia acquisition plans

Fitch Ratings has revised its outlook for GeoPark Limited to positive from stable whilst affirming the oil and gas producer's long-term foreign and local currency issuer default ratings at 'B+', the ratings agency said.

YPF, Eni and XRG sign joint accord to advance Argentina LNG project

YPF, Italy’s Eni and XRG have signed a binding Joint Development Agreement to move forward with the Argentina LNG project, a large-scale initiative aimed at producing and exporting liquefied natural gas from the Vaca Muerta formation.

Brazil’s Raízen debt talks intensify

Bondholders holding Raízen’s international debt have appointed Moelis to advise on a restructuring of the company’s liabilities. The creditor group is also working with law firm White & Case as discussions advance.

US energy chief visits Venezuela to cement post-Maduro oil partnership

The US and Venezuela announced a long-term energy partnership on February 11 after interim President Delcy Rodríguez met US Energy Secretary Chris Wright in Caracas, in the first visit by a senior White House official.

Russia pledges oil lifeline to Cuba as imports hit zero for first time since 2015

Russia's embassy in Havana confirmed on February 12 that Moscow intends to ship crude oil and petroleum products to Cuba as humanitarian aid "in the near future," telling Izvestia this would be the first delivery since February 2025

Cuban Peso breaches 500 per dollar in informal market, deepening six-year economic crisis

Russia pulls tourists from Cuba as jet fuel runs dry under US oil squeeze

Brazil’s Petrobras expands Búzios with new FPSO

Petrobras has taken delivery of the P-79 floating production, storage and offloading unit for the Búzios field in the Santos Basin pre-salt, the company said, marking another step in expanding output from its main offshore asset.

Russia mulling options to aid Cuba amid fuel crisis

Russia is exploring ways to assist Cuba during a severe fuel shortage, Kremlin spokesman Dmitry Peskov said on February 12, amid US threats to impose tariffs on nations helping the sanctions-hit Caribbean island.

US okays US companies to restore Venezuela’s oil infrastructure

Mexico struggling to negotiate US threats to suppliers of oil to Cuba

Cuba’s worsening energy collapse has deepened after Mexico suspended oil shipments to the island under mounting pressure from the US, exposing both Havana’s acute dependence on imported fuel and the limits of Mexico’s diplomatic talks.

Latin American oil leaders will not be dislodged by Venezuelan comeback, says Rystad

Latin America’s oil landscape is entering a pivotal phase, with Argentina, Guyana and Brazil set to drive most of the region’s production gains in 2026 even as Venezuela edges back into international markets.

BP estimates 8bn barrels at Brazil's Bumerangue discovery

UK oil major BP estimates its Bumerangue discovery in Brazil's Santos basin holds around 8bn barrels of liquids in place, split evenly between oil and condensate.

Brazil’s Petrobras posts record Q4 oil exports as client base diversifies

Brazilian state-owned oil firm Petrobras posted record exports of 1.2mn barrels per day (bpd) of oil and derivatives in the fourth quarter of 2025, a surge of about 79% from the same period a year earlier.

Citgo sale delay freezes major decisions as Treasury review drags on

A Delaware judge approved a $5.9bn bid late last year from Amber Energy, an affiliate of Elliott Investment Management, following a prolonged auction process, but the transaction still requires clearance from the US Treasury Department

Venezuelan bondholders hire Houlihan Lokey ahead of debt talks

The selection followed several weeks of deliberations, though a formal mandate has yet to be finalised.

Colombia secures $130mn for Pacific Coast gas import terminal

Colombia's state development bank and BTG Pactual closed financing on February 10 for a liquefied natural gas import terminal aimed at addressing the country's mounting gas supply deficit

Cuba records first month with zero oil imports since 2015

Cuba logged its first month without oil imports in a decade after Mexico halted shipments to the Caribbean island under pressure from US tariff threats, according to shipping data compiled by Kpler Ltd.

US licence expansion puts Venezuela oil output on track for pre-blockade levels

Venezuela could restore crude production to levels seen before Washington imposed a naval blockade, potentially by mid-2026, as the US broadens licences for companies operating in the country

Russia decries US licence terms for Venezuela oil activity as discriminatory

Foreign Minister Sergei Lavrov said the conditions amounted to “blatant discrimination” against countries with longstanding investments in the South American nation