LatAmOil - Latin America Oil & Gas

PDVSA restarts loading as US blockade threat keeps Venezuela exports stalled

Crude shipments have dropped sharply from the more than 900,000 barrels a day exported in November, following last week’s US seizure of a sanctioned tanker

Venezuela’s defence minister slams US Caribbean presence, warns of energy risks

Padrino said the region remains open to cooperation, trade and free navigation, rejecting the idea that it is closed to US interests.

US oil quarantine puts Venezuela’s sanctions-evasion network at risk

The administration’s partial embargo focuses on tankers already sanctioned by the US Treasury, threatening a system officials say funds Nicolás Maduro and supports the country’s fragile economy

Argentina opposes Falkland Islands' first offshore oil project as Rockhopper, Navitas reach FID

Argentina has vowed to oppose Rockhopper Exploration and Navitas Petroleum's $2.1bn final investment decision on the Sea Lion offshore oil field near the Falkland Islands.

LNG expansion threatens Colombia’s offshore gas projects, consultants warn

Colombia’s plans to expand liquefied natural gas import capacity risk undermining the economics of new offshore gas developments, as imported supply could cap prices and weaken demand for domestic output, industry consultants said

Trump tests oil industry appetite for a post-Maduro Venezuela

The Trump administration has discreetly approached US oil companies to gauge whether they would consider re-entering Venezuela in a post-Nicolás Maduro era

US blockade puts Russian naphtha shipments to Venezuela at risk

Russian exports of naphtha to Venezuela are coming under strain after US President Donald Trump ordered a blockade of sanctioned tankers entering or leaving the country

Chevron’s Venezuela deal faces scrutiny as sanctioned trader benefits

Internal data from PDVSA showed that an oil trading firm tied to a sanctioned Panamanian businessman has sold all of the crude the Venezuelan state received from Chevron’s largest field since exports resumed this summer

Shell lines up drillship for Brazil presalt

Shell has awarded Valaris Ltd a multi-year contract for the VALARIS DS-8 drillship to support development of the Orca project offshore Brazil.

Brazil’s Petrobras moves into solar via Lightsource bp deal

Petrobras has agreed to form a joint venture with Lightsource bp to develop onshore renewable energy projects in Brazil, including solar generation.

Pemex's Deer Park refinery to undergo maintenance in 2026, Mexico President Sheinbaum confirms

Deer Park, the refinery owned by Petróleos Mexicanos in the United States, will enter maintenance in 2026, Mexican President Claudia Sheinbaum revealed, Bloomberg Línea reported.

Mexico announces $4.75bn private renewable energy investment, 34% below government forecast

Gas talks reshape Brazil energy map

Brazil’s Brava Energia is in talks to sell three natural gas wells to Eneva in a transaction that could reach about $450mn.

Mexico’s Pemex awards five mixed contracts securing $49.5mn in bonuses for state oil company

Mexican state oil company Pemex awarded the first five of its new mixed contracts and will carry out their signing on December 19, the company's director general Víctor Rodríguez Padilla informed investors, El Economista reported.

CGG Services acquires clearance to conduct offshore exploration in Guyana

Argentina, Guyana, and Brazil to dominate non-OPEC oil growth, US finds

Latin America is poised to dominate non-OPEC oil supply growth in 2026, with Brazil, Guyana, and Argentina collectively accounting for half of the projected 0.8mn barrels per day increase, according to the US Energy Information Administration.

Brazil’s Petrobras receives four bids for $1bn-plus subsea systems contract at Sepia field

Four companies have submitted commercial proposals in a tender held by Brazilian state-owned oil major Petrobras to contract a large subsea umbilicals, risers and flowlines system to serve the Sepia-2 pre-salt project in the Santos basin

Brazil’s Petrobras strike enters third day with 28 platforms affected as output remains stable

A strike at Brazil's state-owned oil major Petrobras expanded to 28 offshore platforms and nine refineries on its third day on December 17

Brazil faces oil output decline after 2030 as new field discoveries plummet, gas imports rise

Brazil's oil and gas self-sufficiency faces threats in the coming decade as new field discoveries plummet and domestic production approaches its peak.

Oil prices jump after Trump orders blockade of Venezuelan tankers

Brent and West Texas Intermediate both gained more than 2% before giving up part of the advance

Chevron cuts Venezuelan crude prices after US seizure raises supply risks

The company sold a batch of Venezuelan oil on December 11, a day after the seizure of a vessel off Venezuela’s coast, at lower prices than cargoes offered earlier in the week

Asian buyers push Venezuela to deepen oil discounts

Asian refiners are pressing Venezuela to offer sharply lower prices for its crude as abundant discounted supplies from Russia and Iran crowd the market and rising geopolitical risks add to buyer caution

Venezuela bond rally builds on hopes of political change

Prices have climbed to about 33 cents on the dollar, up roughly 40% since early October, as the Trump administration steps up pressure on Caracas

BW Energy locks long-term rig deal for Brazil project

BW Energy has converted a short-term lease for a jack-up rig destined for offshore Brazil into a long-term charter, the Oslo-listed company said in a press release, confirming a change in financing for its Maromba field development.

Pemex physical investment reaches $11.39bn through November as financing programme expands for 2026

Mexican state oil company Pemex reported it is executing its physical investment programme in line with what was approved in the federal budget for the current fiscal year.