LatAmOil - Latin America Oil & Gas

TGS steps up Pelotas Basin push in Brazil

TGS has begun a 3D marine seismic survey in the Pelotas Basin as part of the Pelotas Norte Phase I programme.

Pluspetrol quadruples oil output at Argentine block

Pluspetrol announced on social media that it has quadrupled oil production at the Bajo del Choique – La Invernada block to 20,000 barrels per day in under twelve months.

Colombia's Ecopetrol maintains $7.2bn budget as Petro's exploration freeze bites

Colombian state energy company Ecopetrol approved a 2026 investment plan targeting COP22 trillion-27 trillion ($5.88bn-$7.21bn) to maintain production levels whilst President Gustavo Petro's anti-hydrocarbon policies constrain sectoral growth

Uruguay advances offshore oil exploration permits amid environmental concerns

Uruguay's government is moving to grant environmental permits to four companies for seismic exploration in its territorial waters, the first concrete steps in a controversial new phase of deep-water oil prospecting despite environmental concerns.

Two Guyanese supertankers head to India with crude shipments

Two supertankers have embarked on an 11,000-mile (17,700km) voyage from Guyana to India, signalling a significant shift in global crude flows as US sanctions on Russian oil force Asian refiners to source alternative supplies.

ExxonMobil Guyana crude production spikes in October

ExxonMobil Guyana's offshore operations delivered 841,000 barrels per day in October, according to government data. This was driven by a rapid production ramp-up at the Yellowtail development.

Argentina's Southern Energy inks LNG deal with Germany's SEFE, Camuzzi to build $3.9bn LNG export project

Argentina's Southern Energy consortium announced that it has secured a framework agreement to supply 2mn tonnes of LNG annually to Germany's SEFE over eight years starting in 2027.

Archer and YPF secure five-year drilling contract for Argentina's Vaca Muerta

Norwegian drilling contractor Archer Limited has secured a $600mn five-year contract with Argentine national oil company YPF to deploy seven advanced drilling rigs in Vaca Muerta.

Brazil's Petrobras authorised to import more natural gas from Argentina

Brazil's oil and gas regulator ANP authorised Brazilian state-owned crude major Petrobras to import up to 180mn cubic metres (cbm) of natural gas annually from Argentina for two years.

Venezuela appeals to OPEC for support as tensions with US escalate

Nicolás Maduro has called on OPEC to intervene as Venezuela faces what he describes as “growing and illegal threats” from the United States and President Donald Trump

Guyana adopts spot sales for crude from Yellowtail project

Arrow Exploration reports strong initial output from Colombia’s Mateguafa M-6 well

Arrow Exploration Corp. reported successful drilling and early production results from its Mateguafa 6 appraisal well on the Tapir Block in Colombia’s Llanos Basin, where the company holds a 50% beneficial interest

Colombia’s Ecopetrol sets 2026 capex at up to $7.2bn

Colombia’s state-controlled oil producer Ecopetrol said it will invest between COP22 trillion and COP27 trillion in 2026, equivalent to $5.88bn to $7.21bn, keeping spending broadly in line with the 2025 programme

Colombia penalises Ecopetrol CEO for breach of Petro campaign spending rules

Colombia’s electoral authority has fined officials from President Gustavo Petro’s 2022 campaign — including Ricardo Roa, now CEO of state-controlled oil company Ecopetrol — for exceeding legal spending limits

Venezuela’s Vice President calls for cooperation in energy sector

Her remarks came as she criticised the US Southern Command’s military presence, arguing that disputes over energy assets should be resolved through legal frameworks rather than force

PDVSA Ad Hoc moves to appeal US court’s approval of $5.9bn Citgo bid

Venezuela’s PDVSA Ad Hoc Board sharply criticised a ruling by US Judge Leonard Stark that endorsed a $5.9bn bid for PDV Holding, the parent company of Citgo Petroleum

Mexico’s Pemex records lowest output since Morena took office in 2018

Pemex's crude output has continued struggling through 2025, marking the lowest annual production levels since 2018 and underscoring structural and operational pressures facing Mexico's state-owned oil company, Mexico Business News reported.

Mexico’s Pemex natural gas output rebounds in 2025 but remains below previous highs

Pemex's natural gas output continued climbing through 2025, marking a gradual recovery following last year's pronounced decline, although production remains below levels seen during most of the previous administration, Mexico Business News reported

Brazil ups renewable bunker supply

Petrobras supplied three Transpetro vessels with bunker fuel containing 24% renewable material between November 10 and 17, the company said.

Shell Brazil expands Santos Basin footprint

Shell Brazil has signed the concession agreements awarded in the fifth round of the ANP’s Permanent Offer, strengthening its position in the Santos Basin and expanding its deepwater portfolio.

Brazil targets fuel sector in tax and laundering probe

Brazilian federal and state authorities carried out a coordinated operation on to break up an alleged tax-evasion and money-laundering network linked to the fuel sector, officials said.

Venezuela’s oil will be valuable in the West for years to come, says leading analyst

Venezuela’s heavy crude production and exports are being scrutinised by analysts and politicians, amidst questions of whether the administration of Donald Trump will attempt regime change in the South American country.

Arrow Exploration commences production at Colombian well yielding 824 barrels daily

Arrow Exploration commenced production from its Mateguafa 6 appraisal well on Colombia's Tapir Block, achieving initial output of 824 barrels of oil per day gross (412 barrels net) at heavily restricted rates

Brazil’s Petrobras to cut investment plan for first time under Lula

Brazil's state-owned oil major Petrobras is poised to reduce its five-year capital expenditure (capex) programme for the first time since President Luiz Inácio Lula da Silva took office, as weaker crude prices force the company to tighten spending

Brazil’s Petrobras delays Buzios drilling contracts until 2026

Brazilian state-owned oil major Petrobras is expected to postpone awarding up to four drilling contracts for its Buzios offshore field until 2026, delaying agreements previously scheduled for completion this year.