LatAmOil - Latin America Oil & Gas

Suriname bets big on offshore oil as risks mount

Suriname is staking its future on a $10.5bn offshore oil boom — but history warns that black gold rarely delivers on its promise. Can the world's greenest country beat the resource curse?

Latin America and Caribbean pump 11% of world oil in 2025 as regional output jumps 20%

Latin America and the Caribbean boosted oil production by 20% last year compared with 2024, accounting for roughly 11% of global output ahead of the Iran conflict and the subsequent price escalation, OLACDE said in a new report.

Brazil airlines cut flights as fuel costs surge

Brazilian airlines are reducing flights and revising capacity plans after jet fuel prices climbed following the conflict in the Middle East, while carriers also face the possible end of tax breaks on aviation fuel on May 31.

Petrobras bets big on Brazil shipyards

Japan turns to Brazil oil

Japan is looking at Brazil as a possible supplier of crude oil as conflict involving the United States, Israel and Iran disrupts flows through the Strait of Hormuz, Economy Minister Ryosei Akazawa said.

Brazil deepwater moves ahead

ABL Energy & Marine Consultants Brasil has been selected as marine warranty surveyor for Subsea7’s transport and installation campaign tied to the Mero 3 and Mero 4 offshore projects in Brazil’s Santos Basin.

Brazil’s Petrobras bets big on Bahia state

Petrobras plans to raise oil and gas production in the state of Bahia to 30,000 barrels of oil equivalent per day, more than double current levels, as part of a broader investment programme focused on exploration, refining and biofuels.

Guyana's Ali rallies armed forces against Venezuela threat as ICJ ruling looms

ExxonMobil returns to Guyana's Canje block with ultra-deepwater well after four-year hiatus

Mexico sends fifth Cuba aid shipment as US petroleum blockade deepens energy crisis

Argentina approves TGS for $550mn gas pipeline expansion under RIGI

Argentina’s economy ministry has approved Transportadora de Gas del Sur to join the country’s large-investment incentive scheme, known as RIGI, for a $550mn expansion of the Perito Moreno gas pipeline.

Brazil launches fuel subsidies as tax cut proposal stalls in Congress

Brazil will provide direct subsidies to gasoline producers and importers, and later to diesel suppliers, after a government proposal to cut federal fuel taxes stalled in Congress.

TanGo secures three Vaca Muerta shale concessions in Argentina

TanGo Energy Argentina has entered Argentina’s Vaca Muerta shale formation after obtaining three unconventional oil and gas concessions in Río Negro Province, marking a new investment in one of the country’s key energy-producing regions.

Argentina's YPF plans $25bn Vaca Muerta project focused entirely on crude exports

YPF has announced a $25bn investment plan under Argentina’s large investment incentive regime to expand production in Vaca Muerta, with all crude output from the project set to be exported.

Eco Atlantic moves closer to expanding Falklands offshore stake through JHI acquisition

Eco Atlantic Oil & Gas said it has moved a step closer to completing its acquisition of JHI Associates after JHI secured a final court order approving the transaction.

GeoPark seeks RIGI approval for $1bn Vaca Muerta investment

GeoPark has applied to join Argentina’s large investment incentive regime with a plan to invest more than $1bn in the Vaca Muerta shale formation, aiming to expand oil output sharply over the next three years.

Mexico’s Pemex reports brief fire at Olmeca refinery during maintenance, quickly contained

Venezuela unveils draft oil rules to guide foreign investment push

Venezuela has begun circulating draft regulations linked to its newly approved hydrocarbons law, providing fresh details on how private companies would operate in the country’s oil and gas sector as Caracas moves to loosen decades of state control

PDVSA opens probe after explosion sparks fire at Venezuela's Lake Maracaibo facility

Petróleos de Venezuela (PDVSA) confirmed a fire at an oil installation in Lake Maracaibo after an explosion at a gas compression plant left six workers injured, adding to a series of recent incidents affecting the country’s energy infrastructure

Trump-linked investment firm launches $200mn SPAC focused on Venezuela

The initiative was registered with the US Securities and Exchange Commission as part of a broader strategy targeting Latin American markets viewed as entering a phase of economic recovery and renewed investment activity

Venezuela could sustain 4mn barrels a day for decades, banker says

Venezuela possesses the geological and technical capacity to raise oil production to as much as 4mn barrels per day (bpd), although reaching those levels would require years of infrastructure rebuilding and operational recovery

Brazil’s Petrobras pushes refineries past limits

Petrobras said its refineries operated at 95% utilisation in the first quarter of 2026 as Brazil seeks to expand domestic fuel production and cut reliance on imported petroleum products.

Brazil expands oil block offer

Brazil’s oil regulator ANP released an updated version of its Permanent Concession Offer notice, adding 45 exploration blocks and raising the total number of areas available in future bidding rounds to 495.

Russia reaffirms backing for Cuba amid US sanctions pressure

Russia reiterated its support for Cuba and pledged continued assistance to ease the impact of US sanctions on the island, as tensions between Washington and Havana deepen over energy supplies and trade restrictions

Fitch places Brazilian oil producer Brava on positive rating watch after Ecopetrol bid

Fitch Ratings placed Brazilian independent oil and gas producer Brava Energia on Rating Watch Positive on May 13, citing Colombia's state oil company Ecopetrol's planned acquisition of a controlling stake in the company.