LatAmOil - Latin America Oil & Gas

Argentina escalates Falklands dispute as Trump leaves UK support in doubt

Javier Milei has threatened sanctions on oil companies near the Falklands and promised new naval funding, hardening Argentina's claim days after Donald Trump declined to rule out shifting US policy on the islands.

Argentina's Neuquén province to build 1000 km of roads, remedying oil transportation hurdle

Argentina’s Neuquén Province announced that it will formalize an infrastructure financing agreement with major oil companies operating in Vaca Muerta, pre-funding approximately 1,000 km of road construction before year-end.

Río Negro to build 207km pipeline, bolstering Argentina's oil transportation capacity

Río Negro Governor Alberto Weretilneck signed an agreement with Oleoductos del Valle SA for the 207km Duplicar Norte pipeline, significantly boosting Argentina’s oil transportation capacity.

BP sells stakes in Brazil, US Gulf exploration blocks to Shell

BP has agreed to sell part of its ownership in an offshore exploration block in Brazil and five leases in the US Gulf to Shell.

Chevron’s long Venezuela bet finally pays off with $7bn oil deal

Chevron’s two-decade decision to remain in Venezuela while rivals exited is now yielding a potentially major payoff, with a new agreement giving the US oil giant access to billions of barrels and extending its operations into the 2040s

Machado demands transparency from US-Venezuela oil agreement

Opposition leader María Corina Machado criticised the recently announced US-Venezuela oil agreement, saying the lack of information surrounding the deal has fuelled concern over its consequences for the country

GeoPark enters Venezuela as Colombia's Gilinski takes control

GeoPark is entering Venezuela through the Bare heavy-oil block in the Orinoco Belt under a 25-year production participation contract with PDVSA Petróleo, while Grupo Gilinski is set to become the Colombian oil producer’s controlling shareholder

Venezuela signs oil, power deals with Chevron, Eni and GE Vernova

Venezuela signed a series of energy agreements with international companies as interim President Delcy Rodríguez hosted US Energy Secretary Chris Wright at the Miraflores Palace in Caracas

Venezuela military backs US oil deal as lawmakers endorse agreement

Venezuela’s military leadership endorsed a sweeping oil agreement with the United States, with Defence Minister Gustavo González López portraying the pact as a step towards economic cooperation and stability rather than a concession to Washington

Venezuela oil output seen surpassing 2mn bpd by 2030

Venezuela could more than double its oil production before the end of the decade as new investment flows into the country’s energy sector, US Energy Secretary Chris Wright said during a visit to Caracas

Rubio says Venezuela oil pact can help pave way for democratic vote

The US-backed overhaul of Venezuela’s oil industry is intended to do more than raise crude production, according to Secretary of State Marco Rubio

Trump’s Venezuela oil plan faces hurdle in refilling US strategic reserve

President Donald Trump says Venezuelan crude from a newly announced oil agreement will help replenish the US Strategic Petroleum Reserve, with the process of “topping out” expected to begin soon

Venezuela oil exports hold at 1.17mn bpd in August

The US remained Venezuela’s biggest market, but flows fell to about 553,000 bpd from a record 786,000 in July. India’s purchases climbed 66% month-on-month to roughly 297,000 bpd, while shipments to Europe nearly tripled to about 260,000 bpd

US Energy Secretary seeks more US investment in Venezuela

“We want to see a lot of investment from the United States in Venezuela to increase opportunities and prosperity for Venezuelans, Americans, and energy consumers,” Wright told reporters at Maiquetía International Airport

Mexico's Sheinbaum touts $20bn Pemex debt cut and 32,000MW power push

Mexico's power sector is set for a 32,000MW capacity expansion by 2030, part of a broader energy strategy President Claudia Sheinbaum outlined in her two-year progress report, alongside a $20bn reduction in Pemex's debt load.

Pemex support squeezes Mexico's fiscal room as credit rating risks mount

Mexico's continued financial backing for Pemex is testing the limits of the country's fiscal space, with markets watching the 2027 Economic Package for signs of how far the government can go without further damaging its credit rating.

Bolivia orders temporary takeover of YPFB as fuel crisis deepens

Bolivia's government has ordered an "extraordinary" and temporary intervention in state oil company YPFB, aiming to restore operational efficiency after irregularities in fuel supply, though business leaders say the move comes too late.

Argentina's Vaca Muerta has more than a decade of oil and gas growth ahead, Enverus says

Vaca Muerta shale formation has enough commercially viable oil and gas resources to support more than a decade of continued development, although greater access to export markets will be needed to unlock its full potential.

US lays out sweeping Venezuela oil pact as legal and political risks mount

The White House has set out the architecture of the sweeping US-Venezuela oil agreement President Donald Trump unveiled last week.

Costa Rica's recope eyes $120mn LPG storage expansion at Moín as studies near completion

Costa Rica's state fuel company Recope is advancing feasibility studies for a 134,000-barrel LPG storage expansion at its Moín terminal in Limón province, with the analysis due to complete in 2026 and the infrastructure targeted

Ecuador's TPG commits $50mn to expand Guayaquil port capacity

Ecuador's Petroecuador strengthens 27 sites as El Niño risks rise

Petroecuador has deployed preventive measures at 27 strategic sites across Ecuador since May to protect oil infrastructure and maintain fuel and liquefied petroleum gas supplies amid potential impacts from the El Niño-Southern Oscillation

Colombian oil services firms enter Venezuela as US secures majority control of 65bn barrels, Campetrol says

Colombian oil services and goods companies are deploying into Venezuela to capture opportunities created by the reactivation of the country's petroleum sector, following President Donald Trump's announcement that the US had secured majority control

Chevron to invest over $7bn in Venezuela, Colombia’s GeoPark and Italy’s Eni will also enter

Chevron plans to invest over $7bn in Venezuela over the next five years as it targets more than a doubling of its oil production in the South American country to 600,000 barrels per day.

Mexico extends fuel price pact with retailers to February 2027

Mexico's government has renewed a voluntary agreement with fuel retailers to cap petrol and diesel prices for a further six months, extending the deal until February 2027 as part of efforts to contain inflation, President Claudia Sheinbaum announced.