LatAmOil - Latin America Oil & Gas

Brazil’s Petrobras pushes local build rule

Petrobras is seeking higher levels of domestic participation in offshore developments even where contracts do not require it.

Hormuz crisis lifts LNG prices in Brazil

Brazil’s Petrobras diesel auction hits market

Petrobras sold 20mn litres of diesel through an auction in Rio Grande do Sul, as authorities seek to increase competition in the domestic fuel market following price pressure linked to the conflict in the Middle East.

Brazil scraps diesel tax as oil jumps

Gas injection begins at Brazil’s P-78

Seatrium said gas injection has begun at the P-78 FPSO operated by Petrobras, marking a step in the vessel’s move towards full operations.

Brazil's Petrobras awards Oceânica subsea deals

Oceânica Engenharia e Consultoria said it has signed long-term service agreements with Petrobras valued at about $736mn (BRL4.2bn).

Trump, Petro hold call on energy, drugs and Venezuela amid diplomatic reset

Colombia's Ecopetrol chief charged with influence peddling

Colombian prosecutors have formally charged Ricardo Roa, chief executive of Ecopetrol, with influence peddling linked to the purchase of an apartment allegedly acquired below market value in exchange for contracts with the state oil company

Venezuela’s oil revival hinges on winning back skilled diaspora

Venezuela’s push to restore its once-dominant oil industry is increasingly tied not only to securing fresh capital but also to persuading thousands of specialised workers who left during years of political turmoil and economic hardship to return

Venezuela signs gas supply deal with Repsol and Eni

The deal focuses on operations at Cardón IV, one of Latin America’s largest natural gas fields, which currently produces about 16.42mn cubic metres of gas per day

US Carlyle agrees sale of Colombia’s SierraCol to Philippines’ Prime infrastructure

Carlyle Group has agreed to sell Colombian oil producer SierraCol Energy to Prime Infrastructure Capital, part of the business empire of Filipino billionaire Enrique K. Razon Jr., marking another cross-border investment in Latin America

Colombia moves to revive Venezuela gas pipeline amid supply shortfall

Colombia is taking steps that could allow it to begin importing natural gas from neighbouring Venezuela by restoring a dormant cross-border pipeline, Energy Minister Edwin Palma said after talks with officials from Venezuela’s state oil company

Argentina delays winter tariff period amid LNG price volatility

The government of Argentina has postponed the start of the winter tariff period for natural gas by one month in a move aimed at aligning domestic pricing with the results of an upcoming liquefied natural gas (LNG) import tender as global prices surge

Chevron urges further reforms as Argentina seeks to expand shale investment

Chevron said more economic reforms are needed in Argentina to fully unlock the potential of the country’s shale industry, even as President Javier Milei moves to expand incentives aimed at attracting foreign investment in the sector.

Fuel price rises cloud Argentina’s inflation outlook and test peso strategy

Rising fuel prices in Argentina are complicating the government’s efforts to keep inflation under control in March, adding pressure just as authorities seek to manage nearly ARS10trn in debt maturities and maintain stability in the peso.

Argentina's TGS plans $3bn project to export natural gas liquids from Vaca Muerta

Argentine energy infrastructure company Transportadora de Gas del Sur (TGS) said it will invest about $3bn to develop facilities to process and export natural gas liquids from the Vaca Muerta shale formation.

US prepares offshore transfer of seized Venezuelan crude near Texas

Authorities moved last month to claim ownership of the tanker Skipper and roughly 1.8mn barrels of oil on board after the vessel was intercepted in December

Venezuela’s Rodríguez appoints hydrocarbons minister

Paula Henao, previously vice minister of petroleum, takes over a portfolio Rodríguez herself had overseen since August 2024

Venezuela oil output tops 1mn barrels as recovery momentum builds

The increase pushed output back above the symbolic 1mn-barrel threshold, widely viewed as a key milestone in the country’s efforts to restore its energy industry after years of contraction

Brazil deepwater project taps Exail tech

Exail has secured contracts to supply more than 70 acoustic transponders and navigation systems for offshore energy developments in Brazil and Angola.

Gas injection begins at Brazil’s Petrobras P-78

Petrobras has started gas injection on the P‑78 FPSO, 61 days after first oil was recorded on December 31, 2025. The step, reached on March 2, 2026, moves the vessel closer to full operations and adds capacity at the Búzios field.

ExxonMobil's seventh Guyana oil project moves forward as ABL wins marine survey contract

Brazil output jump from Lapa start-up

TotalEnergies has started production at the Lapa South-West development offshore Brazil. The project is expected to raise output from the Lapa field by about 25,000 barrels per day to roughly 60,000 barrels per day.

Brazil's Raizen strikes record $12.6bn out-of-court debt restructuring deal

Brazilian sugar and ethanol producer Raizen, a joint venture between oil major Shell and conglomerate Cosan, has reached an out-of-court agreement with creditors to restructure approximately BRL65.1bn ($12.61bn) in debt.

Brazil’s biodiesel turns cheaper than imported diesel, fuelling debate over higher blend mandate

Biodiesel has fallen below the price of imported diesel in Brazil and the farming lobby is calling for a higher mandatory blending ratio as surging oil prices due to the Iran war squeeze margins for soy producers harvesting a record crop.