LatAmOil - Latin America Oil & Gas

BP estimates 8bn barrels at Brazil's Bumerangue discovery

UK oil major BP estimates its Bumerangue discovery in Brazil's Santos basin holds around 8bn barrels of liquids in place, split evenly between oil and condensate.

Brazil’s Petrobras posts record Q4 oil exports as client base diversifies

Brazilian state-owned oil firm Petrobras posted record exports of 1.2mn barrels per day (bpd) of oil and derivatives in the fourth quarter of 2025, a surge of about 79% from the same period a year earlier.

Citgo sale delay freezes major decisions as Treasury review drags on

A Delaware judge approved a $5.9bn bid late last year from Amber Energy, an affiliate of Elliott Investment Management, following a prolonged auction process, but the transaction still requires clearance from the US Treasury Department

Venezuelan bondholders hire Houlihan Lokey ahead of debt talks

The selection followed several weeks of deliberations, though a formal mandate has yet to be finalised.

Colombia secures $130mn for Pacific Coast gas import terminal

Colombia's state development bank and BTG Pactual closed financing on February 10 for a liquefied natural gas import terminal aimed at addressing the country's mounting gas supply deficit

Cuba records first month with zero oil imports since 2015

Cuba logged its first month without oil imports in a decade after Mexico halted shipments to the Caribbean island under pressure from US tariff threats, according to shipping data compiled by Kpler Ltd.

US licence expansion puts Venezuela oil output on track for pre-blockade levels

Venezuela could restore crude production to levels seen before Washington imposed a naval blockade, potentially by mid-2026, as the US broadens licences for companies operating in the country

Russia decries US licence terms for Venezuela oil activity as discriminatory

Foreign Minister Sergei Lavrov said the conditions amounted to “blatant discrimination” against countries with longstanding investments in the South American nation

Colombia's Ecopetrol governance under strain as CEO faces criminal charges

Colombia's prosecutor-general filed criminal charges against Ricardo Roa, president of state-run oil company Ecopetrol, for alleged violations of electoral spending limits and influence peddling.

Colombia's Ecopetrol CEO faces charges over campaign finance and influence peddling

Russia condemns US 'suffocation' of Cuba as fuel crisis deepens

Russia accused the United States of employing "suffocating tactics" against Cuba and pledged assistance to the island as it confronts a critical fuel shortage triggered by Washington's oil embargo

Cuba faces record 64% blackout as US oil embargo deepens power crisis

Cuba's state electricity company forecast that 64% of the island would lose power simultaneously during peak demand hours on February 10, marking the highest blackout rate since the utility began publishing regular data in 2022.

Shell planning to invest $700mn in Argentina's Vaca Muerta in 2026

Shell plans to invest $700mn in Argentina's Vaca Muerta shale formation during 2026, according to local press reports. This comes just daysafter senior executives dismissed speculation about a potential asset sale.

Venezuela’s Amuay refinery remains partially offline after power failure

The complex, located on the Paraguaná Peninsula in Falcón state, has capacity to handle up to 645,000 barrels of crude a day

US authorises oil companies to restore Venezuela infrastructure

The US has cleared the way for American companies to supply equipment and services needed to restore Venezuela's ailing oil and gas infrastructure, in the most substantial expansion of sanctions relief since Washington seized control of the country.

Norway's Equinor to divest entire Argentine Vaca Muerta operation

Norwegian energy major Equinor announced that it has decided to divest its entire onshore position in Argentina's Vaca Muerta shale basin to Vista Energy for approximately $1.1bn..

Mercuria nears $1bn deal for Raizen's Argentina refinery and fuel network

Mercuria Energy Group is close to acquiring a refinery and around 700 service stations in Argentina from Raizen SA in a deal that could be worth more than $1bn, according to people familiar with the negotiations.

Swiss Mercuria eyes Argentina fuel assets

Mercuria Energy Group is nearing an agreement to purchase an Argentine refinery and a network of service stations from Brazil’s Raizen SA, according to people familiar with the talks.

Mexico issues new fuel import authorisations after hiatus

Transocean acquires Valaris in $5.8bn as offshore activity surges

Ecuador crude discounts widen sharply as Venezuelan supply reshapes heavy oil market

Ecuador’s heavy crude exports are facing mounting price pressure as increased competition from Venezuelan barrels reshapes global heavy oil flows, pushing differentials on the country’s Napo grade to record discounts in early 2026.

Interoil finalises exit from conventional assets in Argentina's Santa Cruz

Interoil has completed its withdrawal from conventional oil and gas operations in Argentina, divesting its interests in several blocks in Santa Cruz province for up to $1mn as part of a strategic shift towards non-conventional energy assets.

Argentina to privatise LNG imports and trading

Argentina will shift the import and commercialisation of liquefied natural gas (LNG) to the private sector, launching a national and international tender to appoint a single operator to take over functions previously handled by the state.

Cuba's energy collapse deepens after Mexico halts key oil supplies

Mexico’s decision to suspend oil shipments to Cuba while expanding humanitarian aid has exposed the limits of its room for manoeuvre under renewed US pressure, as well as the depth of Cuba’s escalating energy and economic crisis.

ExxonMobil advances seismic surveys in Guyana in 2026 in bid to expand oil exploration

ExxonMobil has extended its geophysical and seismic survey program in Guyana's Stabroek Block through December 31, 2026.