Region: Latin America Category: Oil & Gas Frequency: Every Tuesday
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Venezuela seen entering sustained recovery in 2026, analyst says
Venezuela’s economy is poised to enter a phase of sustained recovery by 2026, underpinned by energy sector liberalisation and updated legal frameworks, according to Luis Vicente León, president of market research company Datanálisis
Petroecuador doubles output at Drago field to near 6,000 bpd after technical overhaul
Ecuador’s state oil company Petroecuador has sharply increased production at its Drago field, underscoring a broader strategy to lift national crude output through operational upgrades and targeted investments.
Valaris, Halliburton and Petronas join forces to advance Suriname offshore development
Valaris, Halliburton and Petronas align drilling, subsurface and project execution in Suriname, targeting early-stage efficiency and long-term offshore development value in a fast-growing basin.
Cuba women protest US oil curbs as energy strains deepen
Hundreds of women marched in Havana on April 7 to denounce US restrictions on oil supplies to Cuba, as government officials intensified criticism of Washington’s pressure campaign amid worsening energy shortages
Oil surge masks Colombia's Ecopetrol political risk, but analysts warn rally may be borrowed time
Ecopetrol's share price has held up amid a wave of corporate governance turbulence, but analysts warn that a surge in global oil prices driven by the conflict in Iran is doing much of the heavy lifting
Venezuela pauses US legal fight to protect Citgo and other key assets
At the core of the dispute is the question of legal representation, as both sides must determine who is authorised to speak for Venezuela in US courts
India boosts Venezuelan oil imports to six-year high amid supply shift
The volumes, the highest since February 2020, reflect a longer-term diversification effort rather than a short-term reaction to recent disruption
Venezuela exports reach highest level since 2018 as non-oil sector accelerates
Oil remained the country’s primary source of foreign income, generating $18.212bn, although this represented a slight decline of 0.87% compared with 2024
India replaces China as top buyer of Venezuelan crude under US oversight
The increase has been underpinned by higher imports of diluents used to process Venezuela’s heavy crude, with nine cargoes arriving in March compared with seven in February
Argentina advances VMOS pipeline project with key storage tank milestone
Argentina has reached a new milestone in the construction of the VMOS oil pipeline project, with the installation of a geodesic roof on a major storage tank at the Punta Colorada export terminal, provincial authorities said.
Argentina's YPF to hold fuel prices steady for 45 days amid Iran conflict pressures
Argentina’s state-run energy company YPF will keep fuel prices stable for the next 45 days, its chief executive said, as the government seeks to shield consumers from rising global oil prices linked to the conflict in Iran.
Argentina's YPF shares gain as banks raise targets after court ruling and oil rally
Shares of Argentina’s state-controlled oil company YPF have risen sharply in 2026, prompting banks and investment funds to increase their price targets after a favourable US court ruling and stronger global crude prices improved the company’s outlook
Argentina's Tecpetrol, GyP seek incentives for $2.4bn Vaca Muerta oil project
Argentine energy firms Tecpetrol and Gas y Petróleo del Neuquén (GyP) have applied to include a $2.4bn unconventional oil project in the government’s investment incentive regime, aiming to boost production in the Vaca Muerta shale formation.
Haliburton, Petronas, and Valaris sign Suriname offshore agreement
Halliburton announced that it has signed a Strategic Collaboration Agreement with PETRONAS Suriname and Valaris to support the development of offshore assets in Suriname.
Afreximbank to provide Surinamese companies with direct financing for oil and gas projects
Afreximbank is positioning itself as a direct financing partner for Surinamese companies competing for domestic oil and gas contracts, Okechukwu Ihejirika, Acting Regional Chief Operating Officer for the Caribbean, confirmed.
Colombia's Ecopetrol wins approval for $1.25bn loan to refinance debt and extend maturities
Colombia’s state-controlled oil producer Ecopetrol has secured authorisation to raise up to $1.25bn in debt as part of a refinancing strategy aimed at lowering financing costs and extending maturities
Colombian engineers back NASA’s historic Artemis II mission as Europe powers spacecraft, Russia eyes lunar push
Colombia firms rank among top regional multilatinas, IDB study shows
Colombia placed three companies among Latin America’s 50 largest multilatinas by sales, led by Ecopetrol in sixth position, according to a report by the Inter-American Development Bank
Valaris locks Brazil’s Petrobras extension
Valaris said it secured a contract extension with Petrobras for the drillship VALARIS DS-4, alongside a separate agreement with Petronas and Halliburton covering offshore activity in Suriname.
Brazil unveils $6bn fuel subsidy package as Iran war hits prices, freezes Lula-Trump thaw
Brazil's government unveiled a sweeping package of measures on April 6 to shield consumers and businesses from surging fuel prices driven by the US-Israeli war with Iran, at an estimated fiscal cost of BRL31bn ($6bn).
Ventura extends Brazil rig deals
Ventura Offshore said it has secured contract extensions for two units operating offshore Brazil, adding more than $600mn to its backlog.
Fuel surge hits Brazil airlines
Petrobras has raised jet fuel prices by about 55% since April 1, Abra Group said, citing higher global oil costs linked to conflict involving Iran, the United States and Israel.
Colombia's Isagén, US Atlas secure financing for $453mn solar project in Colombia
Isagén and Atlas Renewable Energy have reached financial close for the El Campano solar project in Córdoba, paving the way for construction of a 128.8 MWdc facility expected to begin operations in the third quarter of 2027
Colombia's Ecopetrol chief steps aside temporarily amid probes and political tensions
The board of Colombia’s state-controlled oil company Ecopetrol has asked its chief executive Ricardo Roa to step aside temporarily until after the presidential election cycle, following mounting legal scrutiny and internal dissent

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