LatAmOil - Latin America Oil & Gas

Bolivia taps Brazil as energy lifeline

Bolivia is seeking to reposition Brazil as a cornerstone economic partner as it attempts to reverse declining hydrocarbon output and attract fresh investment into its struggling energy sector.

Argentina’s Neuquén plans more Vaca Muerta licensing as region lags behind Permian basin in drilling costs

Neuquén province, where most of Argentina’s Vaca Muerta shale the formation is located, is preparing to launch a new hydrocarbons licensing round on August 19.

US weighs broader sanctions relief on Venezuela as oil companies reassess

The Trump administration is mulling easing restrictions on Venezuela’s oil industry as it seeks to temper a sharp rise in global crude prices

Brazil's Petrobras leads oil majors in market value surge

Brazilian state-owned oil company Petrobras has emerged as the world's best-performing major oil company by market capitalisation since the outbreak of the Iran conflict

Brazil Mero field wins new rig

Foresea has secured a $465mn contract with Petrobras to provide the drillship ODN I for operations at the Mero pre-salt field. The agreement follows a tender for a rig to support development drilling in the Santos Basin.

Brazil diesel supply under strain

Argentina targets 1.5mn bpd output by 2031, up to $45bn in energy exports

Argentina is on track to surpass 1mn barrels per day (bpd) of oil production by December and reach more than 1.5mn bpd by 2031, while potentially generating up to $45bn in annual energy exports.

US-backed firm JPM Energía enters Vaca Muerta with asset purchase from Pluspetrol

US-backed JPM Energía has entered Argentina’s Vaca Muerta shale formation after acquiring stakes in two oil and gas blocks from Pluspetrol, marking its first move into hydrocarbon production in the country.

Ecuador tariff surge disrupts Colombia oil flows from Putumayo, raising costs

Colombia’s oil producers operating in Putumayo are rerouting crude flows after Ecuador raised transit tariffs by 900% and closed a key border crossing, sharply increasing logistics costs and disrupting established export routes

Renewables draw 15% of Colombia FDI projects as clean matrix underpins appeal

Renewable energy accounted for about 15% of foreign direct investment projects in Colombia in 2025, reflecting rising investor interest in the country’s energy transition, according to a report by ProColombia published on March 26.

Cuba seeks US dialogue as UN floats $94mn aid plan amid fuel crisis

Cuba is in early-stage talks with the United States as the United Nations advances a $94.1mn (€81.4mn) emergency plan to sustain critical services amid a deepening fuel shortage, officials said

Chile to lift fuel prices up to 54% as inflation outlook worsens and rate cut bets fade

Chile is set to sharply increase regulated fuel prices, in a move that could accelerate inflation, shift monetary policy expectations and intensify pressure on households and transport operators already facing weak economic growth.

Colombia gas import dependence raises midstream infrastructure strategic value, Fitch says

Colombia's declining domestic gas production and increased LNG import reliance have elevated midstream infrastructure's strategic importance whilst regulated pass-through mechanisms support stable credit profiles

Middle East conflict drives LNG traffic surge through Panama Canal

ExxonMobil awards Longtail FPSO contracts before Guyana government approval

Guyana should revisit refinery feasibility as crude output grows, says VEHSI director

Halliburton, ExxonMobil claim industry first in fully automated well placement off Guyana

Mexico steps up response to Gulf oil spill of unknown origin

Brazil’s Lula pitches Petrobras-Pemex Gulf of Mexico tie-up and vows to buy back Bahia refinery

Lula da Silva said has proposed a partnership between state-owned oil company Petrobras and Mexico's state-owned Pemex to explore oil in the Gulf of Mexico, while also pledging to recover a major refinery in Bahia state sold under his predecessor.

Norway’s Equinor starts drilling at $9.0bn Raia gas project off Brazil

Equinor has begun drilling at its Raia natural gas project in the pre-salt Campos Basin off Brazil, marking the start of a six-well campaign at what the company describes as its largest project under execution and its deepest water depth operation.

Brazil's Prio on track for 40,000 bpd at Wahoo field by end of April

Prio said its first producing well at the Wahoo field in the Campos Basin had reached stabilised output of 12,000 barrels of oil per day (bpd), with the remaining wells on track to bring total field production to 40,000 bpd by the end of April.

Brazil offshore group beats outlook

Constellation Oil Services reported adjusted EBITDA of $233mn for 2025, 37% above its guidance, supported by high fleet use and contract terms.

Continental chief urges Argentina to avoid investment barriers as Vaca Muerta grows

The chief executive of Continental Resources said the company is strengthening its presence in Argentina’s Vaca Muerta shale formation, highlighting its global potential and calling on policymakers to avoid measures that could deter investment.

Argentina holds fuel taxes steady despite oil price surge

Argentina’s government has ruled out cutting fuel taxes despite a roughly 15% increase in petrol and diesel prices in March, prioritising fiscal surplus targets while considering delaying planned tax hikes, according to officials.

Chile adjusts fuel price mechanism as global oil surge drives sharp increases

Chile is facing a steep rise in fuel prices as the government of President José Antonio Kast moves to recalibrate its stabilisation framework amid mounting global energy pressures.