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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Brazil’s Petrobras seeks to widen Africa push

7 February 2026

Petrobras has expanded its overseas exploration and production portfolio with the acquisition of a 42.5% stake in an offshore block in Namibia, the Brazilian state-controlled oil company said.

Brazil’s Petrobras clears hurdle in Amazon drilling

7 February 2026

Brazil’s oil regulator has authorised Petrobras to restart drilling an exploratory well in the Foz do Amazonas Basin after operations were suspended earlier this year because of a drilling fluid leak.

Sintana Energy secures $9mn settlement from ExxonMobil in Colombia block dispute

6 February 2026

Sintana Energy will receive $9mn from ExxonMobil to resolve arbitration over Colombia's VMM-37 exploration block, with the Canadian explorer conditionally transferring all rights to the US major, the company announced.

Russia vows continued Cuba oil flows despite US tariff threat

6 February 2026

Russia will maintain oil supplies to Cuba notwithstanding Washington's threats to impose tariffs on nations trading with the Caribbean island, Moscow's ambassador to Havana said.

Cuba announces special period-style austerity as fuel crisis deepens

6 February 2026

Cuban President Miguel Díaz-Canel announced that his government will implement a multi-sectoral contingency plan next week modelled on "Special Period" austerity measures from the 1990s, as the Caribbean nation confronts acute fuel shortages

Vaca Muerta set to push Argentina’s energy surplus to new high in 2026

6 February 2026

Argentina is expected to post a record energy trade surplus in 2026, driven by rising oil and gas shipments from the Vaca Muerta shale formation and new infrastructure that has expanded export capacity.

Venezuela enacts sweeping changes, Trump opens up oil sector to US firms

5 February 2026

Washington is moving toward a sweeping authorisation that would permit energy firms to extract crude in Venezuela, signalling a further rollback of restrictions.

Venezuela courts European energy investors in first foreign outreach since Maduro ouster

5 February 2026

The talks, held in Caracas, centred on how foreign companies would operate under the new transitional framework

Venezuelan heavy crude seen targeting US refiners, not Brazilian exports

5 February 2026

In the short term, shipments from Venezuela to the US are expected to remain below 300,000 barrels per day (bpd), while Brazil continues to channel most of its exports to Asia

US begins receiving Venezuelan crude under 50mn-barrel deal

5 February 2026

US President Donald Trump said on February 4 that shipments were already under way, announcing after signing legislation to end the government shutdown that 50mn barrels of oil were headed to Houston

Venezuela tells China US won’t dictate oil prices, seeks to reassure investors

5 February 2026

Venezuela has told China that the US will not determine the price of its crude and that Chinese investment in the country will remain safeguarded, according to comments by Ambassador Remigio Ceballos carried by state media

Venezuela seeks to boost oil output as officials court foreign investment

5 February 2026

Venezuela wants to be known for high oil production rather than just large crude reserves, senior economic official Calixto Ortega said February 4, as the country seeks foreign investment and awaits potential relief from international sanctions.

Weatherford weighs Venezuela return as oil sector resets after Maduro capture

5 February 2026

Weatherford is tracking political and industry shifts in Venezuela as the country reassesses its oil sector following the removal of President Nicolás Maduro last month

US returns $500mn in oil proceeds to Venezuela after January deal

5 February 2026

The US has transferred $500mn to Venezuela following the completion of an initial oil sale agreed between Washington and Caracas last month

Vaca Muerta posts strong January output as conventional oilfields continue to decline

5 February 2026

Argentina’s Vaca Muerta shale formation started 2026 with one of its strongest January performances on record, as oil and gas companies ramped up hydraulic fracturing activity while production from conventional fields continued to fall.

S&P Global denies Mexico's Pemex rating upgrade despite energy secretary's claim

5 February 2026

S&P Global has denied upgrading Mexican state oil company Pemex's credit rating on February 4, 2026 despite Energy Secretary Luz Elena González stating that an improvement had occurred.

Mexico sold $496mn in petroleum to Cuba during 2025 as US tariff threat suspends shipments

5 February 2026

Mexico's state oil company Pemex sold $496mn in crude and refined products to Cuba during 2025, the company reported on 4 February 2026, as Washington's tariff threats have suspended supplies to the island.

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