LatAmOil - Latin America Oil & Gas

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.

Middle East conflict poses price risk for Brazilian gas, analysts warn

The conflict in the Middle East does not pose immediate risks to Brazil's natural gas supply but could push up fuel prices in the country as distributor contracts tied to Brent crude come under pressure, according to analysts and industry groups.

Middle East war rocks Latin America

The Middle East war is the largest disruption to global oil output ever, and the jitters are rumbling through Latin America.

Frontera proposes selling upstream Colombian assets to Parex, not GeoPark

Frontera Energy’s proposed sale of its Colombian upstream oil and gas assets has shifted course after the company determined that a competing offer from Parex Resources represents a “superior proposal” to the transaction with GeoPark.

Bolivia weighs gas expansion as reserves decline and prepares fuel price review

Bolivia’s government is facing mounting pressure to revive hydrocarbon production as output falls to its lowest level in two decades, prompting authorities to consider new exploration projects.

Oil price tops $100 a barrel - again

Brent crude rose almost 9% in early Asian trading, surpassing $100 a barrel, despite the International Energy Agency (IEA) announcing late on March 11 that all 32 member countries would release up to 400mn barrels of oil.

Illegal fuel refining cost Colombia's Ecopetrol $63mn in 2025 as theft surges

Illegal fuel refining and hydrocarbon theft cost the Ecopetrol group about $63mn in 2025, with more than 730,000 barrels of fuel diverted from official supply chains, according to company statements

Uruguay retains title of Latin America’s most expensive gasoline market

The country remains far ahead of regional peers despite the recent adjustment

Venezuela's Rodríguez reviews energy strategy with PDVSA leadership amid sector reforms

The session brought together Petróleos de Venezuela SA (PDVSA) president Héctor Obregón, members of the state company’s board and vice ministers from the Ministry of Hydrocarbons

Chevron, Shell near major oil deals in Venezuela after sector reforms

The negotiations could enable both companies to expand operations in key hydrocarbon regions as part of a broader effort backed by US President Donald Trump to rebuild Venezuela’s oil industry

Guyana's oil production hits record high in January

Guyana's offshore oil production surged to 915,000 barrels per day in January 2026, a new record volume

Repsol sees Venezuela as growth opportunity despite exclusion from 2026–2028 forecasts

According to Imaz, Repsol aims to raise its oil production in Venezuela by about 50% over the next twelve months and potentially triple it in the years ahead

​African Energy Chamber and Venezuela advance energy cooperation after reciprocal high-level visits

A government delegation from Venezuela has visited South Africa to advance collaboration across the hydrocarbon value chain.

Milei says Middle East conflict could boost Argentina’s oil and agricultural exports

Argentine President Javier Milei said tensions linked to the war involving Iran could benefit Argentina by pushing up global commodity prices and improving the country’s export revenues from oil and agricultural products.

Mexico President set for Brazil visit as two Latin American giants deepen energy ties

Petrobras moves to shield Brazil fuel prices

Petrobras said it can limit the impact of rising oil prices on the Brazilian market while maintaining profitability. The statement comes as global energy markets react to tensions involving Iran and developments in the Strait of Hormuz.

Pemex raises wholesale fuel prices as Mexico weighs subsidies amid Middle East oil shock

Chevron expresses interest in Trinidad and Tobago's oil and gas sector

Chevron has approached Trinidad and Tobago for discussions on energy sector cooperation, presenting an opportunity to the Caribbean country to attract new customers amid Middle Eastern volatility.

Parex to buy Frontera’s Colombia assets for $525mn after GeoPark withdraws

Canadian producer Parex Resources agreed to acquire the Colombian exploration and production portfolio of Frontera Energy for $525mn after GeoPark decided not to increase its competing offer, the companies said