LatAmOil - Latin America Oil & Gas

PetroChina steps back from Venezuelan crude as US takes control of exports

The move marks another pause in what was once a key supply relationship. Until early 2019, PetroChina was Venezuela’s largest single crude buyer, before US sanctions forced a halt to imports

Venezuela targets $1.4bn in oil investment as reform talks advance

Venezuela prepares to resume LPG exports under US-backed oil deal

Vitol and Trafigura were granted the first US licences earlier this month to handle cargoes tied to the roughly $2bn agreement, which seeks to draw down inventories that accumulated after the US imposed an oil blockade in December

Venezuela's oil prospects are fraught with difficulties, says Fitch

Venezuela’s hopes of reviving its long-struggling oil industry have gained fresh momentum following recent US actions, but a ratings agency is warning that any recovery will be slow, costly and fraught with structural challenges.

Trinidad targets 2027 start for Venezuelan gas despite political upheaval

Shell and Trinidad's state gas company continue planning for a Venezuelan offshore project that officials say could begin flowing gas by late 2027 despite recent political changes in Caracas.

Venezuela's oil reform fails to lure US majors despite push for private investment

Venezuela's interim government has fast-tracked changes to the country's hydrocarbon law in a bid to attract foreign capital to its battered oil industry, but major US producers remain reluctant to commit billions of dollars amid uncertainties.

Chevron signals willingness to support Venezuela oil reform talks

Chevron’s representative in Venezuela said the US oil producer is ready to keep contributing its operational experience as the country moves forward with plans to overhaul its hydrocarbons framework

ExxonMobil installs monitoring system for Guyana subsea pipeline

Mexico’s Pemex increases fracking exploration investment 66%

Fitch assigns 'AA(mex)' rating to Pemex's proposed bond issuances

Mexico President declines to deny halting oil shipments to Cuba

Mexican President Claudia Sheinbaum refused to deny on 27 January 2026 that her government had suspended oil shipments to Cuba, describing export decisions as sovereign matters unrelated to pressure from Washington, Reuters and El País reported.

Oil becomes main driver of Guyana's economy, funding national budget

Guyana's Finance Minister Ashni Singh projected 16.2% GDP growth for 2026 as offshore crude production accelerates, with oil revenues set to fund nearly one-third of the national budget.

Indian firm beats Argentina's Techint in $200mn Vaca Muerta pipeline tender

India's Welspun Corp has secured a contract worth just over $200mn to supply pipes for Argentina's Vaca Muerta liquefied natural gas project, defeating local steel giant Tenaris.

Brazil's Petrobras cuts gas prices 7.8%, sees long-term potential in Venezuela exploitation

Brazil's state-owned oil company Petrobras has announced a 7.8% reduction in natural gas prices for distributors while a senior executive said the company sees exploration potential in Venezuela despite saying it is not the right time.

Venezuela's interim leader liberalises economy but critics warn of 'dictatorship without Maduro'

Venezuela's interim president Delcy Rodríguez is rapidly liberalising the economy while maintaining strict political control, prompting warnings from analysts and former US officials that Washington may be willing to accept authoritarian rule.

Cuba tourism slumps as sanctions and fuel risks weigh on economy

Trinidad and Tobago's Atlantic LNG to remove one liquefaction train later this year

Trinidad and Tobago’s Atlantic LNG facility will commence removing one liquefaction train from operations in the fourth quarter.

Ecuador raises fees on Colombian oil transit as trade dispute escalates

Ecuador has increased the tariff for transporting Colombian crude through its main state-owned pipeline from $3 to $30 per barrel, in a move linked to escalating trade and energy tensions with Bogotá

Brazil's ANP grants Mandacaru 60-day extension to start production at Sergipe gas field

Brazil's oil and gas regulator ANP approved a 60-day extension for Mandacaru Energia to begin production at the Dó-Ré-Mi natural gas field in the Sergipe Basin.

Brazil’s Raízen seeks up to $1.5bn capital raise but funding sources unclear

Brazilian biofuels and energy company Raízen is estimated to seek a capital increase of between $1bn and $1.5bn as part of its restructuring efforts, but the sources of funding remain uncertain.

Venezuela courts oil majors as parliament weighs hydrocarbons law rewrite

Venezuela’s interim president Delcy Rodríguez met with executives from oil companies including Repsol, Chevron and Shell

US weighs broad sanctions licence to accelerate Venezuela oil revival

The move is intended to streamline approvals after a flood of licence requests from companies seeking to operate alongside state-owned PDVSA.

Venezuela oil law revamp falls short of capital needed for sector overhaul

Venezuela’s proposed overhaul of its hydrocarbons law is designed to ease the expansion of companies already operating in the country and draw in fresh investors

Venezuela banks resume FX interventions with backing of private sector after oil cash inflows from US trade

Venezuela’s banking sector has restarted foreign-exchange interventions after more than a month on hold, following the arrival of fresh hard-currency inflows linked to renewed oil trade with the US.

Brazil's regulator approves 17 blocks for production-sharing auction, excludes Mahogany

Brazil's oil and gas regulator ANP approved the inclusion of 17 exploratory blocks in a new version of its Permanent Sharing Offer tender, bringing the total draft to 25 blocks.