LatAmOil - Latin America Oil & Gas

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Oil & Gas

Region: Latin America   Category: Oil & Gas Frequency: Every Tuesday

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LatAmOil provides oil and gas Insight and Foresight from Mexico and Central America to the Caribbean and South America. From the heavyweight producers such as Brazil to emerging frontiers like Guyana, LatAmOil informs you of what is going on and why through commentary, exclsuive interviews, news and analysis. In such a notoriously challenging environment, in-depth and accurate information makes every difference in vital decision making and strategy – LatAmOil brings this directly to your inbox every week.

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US broadens authorisation for Venezuelan oil sales under Washington control

2 February 2026

The US Treasury Department has widened access for companies to participate in Venezuelan crude sales, moving beyond the two commodity traders initially selected for Washington-controlled exports from the sanctions-hit nation.

Venezuela ships inaugural LPG cargo as it opens energy sector

2 February 2026

Venezuela has exported its first shipment of liquefied petroleum gas, a development the country's acting president described as a significant achievement in efforts to diversify the nation's energy sector beyond crude oil.

Argentina opens LNG imports to private firms, accelerates Enarsa privatisation

2 February 2026

Argentina has authorised private companies to import and sell liquefied natural gas, removing the state from those operations as part of a broader push to privatise public energy company Enarsa and overhaul the country’s energy market,

Argentine provinces support government cut to export duties on conventional crude

2 February 2026

Argentina has reduced export duties on crude oil produced from conventional fields under a new pricing-linked scheme, seeking to support mature oil production and prevent it from falling further behind shale output from the Vaca Muerta formation.

ExxonMobil, Chevron demand reforms before Venezuela investment despite Trump pressure

2 February 2026

US oil majors ExxonMobil and Chevron have declined to commit to long-term investments in Venezuela despite President Donald Trump's push for $100bn in spending from US companies.

Brazil’s oil regulator orders shutdown of Refit refinery over safety concerns

2 February 2026

Brazil's oil and gas regulator has ordered the complete shutdown of Refit, the former Manguinhos refinery in Rio de Janeiro, after a safety inspection identified risks of accidents and fires at the facilities.

Brazil’s Petrobras renews Indian refiner contracts worth over $3.0bn

2 February 2026

Brazil's state-owned oil company Petrobras has renewed crude oil supply contracts with three of India's main state-owned refiners in agreements worth more than $3.1bn.

Brazil’s Petrobras launches tender for up to 518 km of flexible pipes

2 February 2026

Brazil’s state-owned oil company Petrobras has launched a tender to acquire up to 518.3 kilometres of flexible pipes, equipment critical for offshore oil production.

Norway’s Seadrill secures $114mn contract extension for drillship in Brazil

2 February 2026

Norwegian offshore drilling contractor Seadrill has secured a one-year contract extension worth $114mn for its West Saturn drillship working off Brazil's coast in Equinor’s operations.

US move to ease curbs may reopen Venezuelan oil supplies to India

2 February 2026

A US signal indicating flexibility on Venezuelan oil trade could enable Indian refiners to resume purchases from the Latin American producer, with Reliance Industries expected to benefit the most

Brazil pressed on fossil fuel exit plan

31 January 2026

Brazil should set dates to end oil auctions, restrict exploration in sensitive areas and revise incentives that support fossil fuels, according to proposals delivered to the government by the Climate Observatory.

GeoPark agrees to buy Frontera’s Colombia assets in $400mn deal

30 January 2026

GeoPark Ltd has agreed to acquire Frontera Energy Corp’s oil and gas exploration and production assets in Colombia for up to $400mn, including assumed debt, as it seeks to expand scale and diversify output in South America

Bogotá based GeoPark extends Vitol offtake through 2028, secures $500mn funding line

30 January 2026

GeoPark renewed its crude oil marketing arrangement with commodities trader Vitol, extending deliveries through December 31 2028 whilst accessing up to $500mn in prepayment financing at lower interest costs, the Bogotá-based producer announced

US lawmakers probe who benefits from Venezuelan oil under new export regime

29 January 2026

US lawmakers are demanding greater transparency over Venezuela’s oil exports after Washington assumed control of the country’s crude sales following the capture of Nicolás Maduro earlier this month

US-based Valero expands Venezuelan crude intake as heavy oil becomes core feedstock

29 January 2026

The company said it has sourced oil from all three sellers authorised by the US government, with volumes set to make up “a pretty large part” of its heavy crude intake through February and March

Citgo returns to Venezuelan crude as US-Caracas energy ties thaw

29 January 2026

The US refiner has bought about 500,000 barrels of Venezuelan heavy crude for delivery in February, according to two people familiar with the transaction, who asked not to be identified

Venezuela steps up dollar sales as oil revenue deals with US take shape

29 January 2026

Venezuela’s central bank said it has begun offering an additional $200mn in foreign currency to the local market, extending a series of dollar injections funded by hydrocarbon exports

US replaces Russia as Venezuela’s sole naphtha supplier

29 January 2026

Naphtha cargoes bound for Venezuela in January have come exclusively from the US Gulf Coast, marking a sharp break from a trade that had been dominated by Russian supply

Venezuela's parliament approves oil sector privatisation in historic reversal

29 January 2026

Venezuela's National Assembly has backed a fundamental restructuring of the country's oil sector, driving the final nail into more than two decades of socialist policies that prioritised state control over the industry.

Rodríguez says US unfreezes Venezuelan assets after talks with Trump administration

29 January 2026

Venezuela’s interim president, Delcy Rodríguez, said assets held in the United States have begun to be unfrozen following diplomatic contacts with the administration of President Donald Trump

Arrow Exploration advances Colombia output after Mateguafa well tests

29 January 2026

Canadian Arrow Exploration has reported mixed appraisal results at its Mateguafa Attic field in Colombia’s Llanos Basin, as the company seeks to expand production and sustain cash generation

Brazil’s Petrobras expands oil reserves by 6%, discovering 1.7 barrels for each one produced

29 January 2026

Petrobras increased its proved oil and gas reserves by 6% in 2025, reaching 12.1bn barrels of oil equivalent, as additions from pre-salt fields more than offset production.

Chile’s ENAP posts record $848mn profit in 2025 as margins and costs align

29 January 2026

Chile’s state-owned oil company ENAP reported a sharp rise in earnings in 2025, underlining the strategic role hydrocarbons continue to play in the country’s energy mix despite the push towards decarbonisation.

US steps up pressure on Cuba after Trump signals end to Venezuelan support

29 January 2026

US President Donald Trump said that Cuba was “very close to failing”, arguing that the island was no longer receiving oil or financial support from Venezuela, as Washington intensified pressure on Havana following recent developments in Caracas

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