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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BP to wrap up Brazil’s Bumerangue appraisal wells by mid-2027

7 May 2026

UK energy major BP plans to complete a three-well appraisal programme at its Bumerangue discovery in Brazil's offshore Santos basin by the end of the first half of 2027.

Brazil’s Petrobras secures production individualisation agreements for Sururu and Berbigão fields

7 May 2026

Petrobras has been notified by oil regulator ANP of the approval of Production Individualisation Agreements (AIP) for the Sururu and Berbigão shared reservoirs in the offshore Santos basin, effective from May 1.

Norway's DOF Group wins 12-year Petrobras contracts for four newbuild subsea vessels

7 May 2026

DOF Group has secured 12-year charter and services contracts to build and operate four remotely operated vehicle support vessels for Brazil’s state-owned oil company Petrobras's deepwater operations.

Brazil diesel direct sales surge after Petrobras-Vale deal, distributors cry foul

7 May 2026

Direct diesel sales by Brazilian producers to large industrial consumers surged in the first quarter after Petrobras signed a supply agreement with miner Vale, sparking a formal complaint from fuel distributors.

El Salvador retains lowest fuel prices in Central America despite recent hikes

6 May 2026

El Salvador continues to report the lowest fuel prices in Central America despite a recent chain of increases, as authorities defend a policy mix aimed at shielding consumers from global volatility.

Eni inks oil deal with Venezuela to relaunch Orinoco Belt output

6 May 2026

Italian energy company Eni has signed an agreement with Venezuela's state oil company PDVSA to resume crude production at the Junín-5 heavy oil field in the Orinoco Belt.

Mexico's Pemex posts losses in first quarter as crude exports fall sharply

6 May 2026

Mexico's state oil company Pemex recorded net losses of MXN46bn ($2.64bn) in the first quarter of 2026, slightly worse than the MXN43.3bn loss in the same period of 2025.

Argentina's YPF ramps up bid to attract international investment

6 May 2026

YPF president Horacio Marín used the Bilateral Energy Summit in Houston on May 4 to deliver an ambitious elevator pitch to international investors, following the launch of a $150bn investment programme targeting the Vaca Muerta shale formation.

Bolivia’s YPFB bets $9.8mn on Chilean port upgrade amid fuel supply strain

6 May 2026

Bolivia’s state-owned energy group Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) is advancing a $9.8mn investment in northern Chile as part of a broader $50mn infrastructure push.

Global oil buyers turn to Guyana amid Strait of Hormuz crisis, with Chevron leading the charge

6 May 2026

Global oil consumers are increasingly looking to Guyana as a stable supply source following the blockade of the Strait of Hormuz, according to a new report from Wood Mackenzie.

Exxon expresses optimism on Venezuela re-entry amid emerging opportunities

6 May 2026

Exxon Mobil Corp. has expressed a more upbeat view on Venezuela, with Chief Executive Officer Darren Woods highlighting potential opportunities as the country’s energy sector begins to reopen to global investment

Chevron signals caution on Venezuela investment despite output gains

6 May 2026

Chief Executive Officer Mike Wirth said that while there have been “positive development indicators”, uncertainties remain around fiscal conditions and dispute resolution mechanisms

Venezuela targets 1.4mn bpd output as oil sector rebounds

6 May 2026

Interim President Delcy Rodríguez said output currently stands at around 1.2mn bpd, reflecting a rebound from declines linked to US sanctions and operational constraints

Venezuela oil recovery constrained by infrastructure decay and political risk

6 May 2026

While authorities have moved to open the sector to private participation and revise fiscal terms, structural constraints continue to limit the pace of recovery

Venezuela’s US diluent imports jump to post-sanctions high

6 May 2026

Imports reached 120,000 barrels per day (bpd), a 114% increase from the previous month and the highest level recorded since 2018, before sanctions imposed in January 2019 disrupted trade between the two countries

Venezuela signs $2bn energy deals with US firms as ties rebound

6 May 2026

The accords were signed at the presidential palace in Caracas in the presence of White House envoy Jarrod Agen, who arrived on the first direct flight from Miami after air links between the two countries resumed

Italy’s Eni restarts Venezuelan oil liftings

6 May 2026

The shipments stem from a March agreement involving Cardon IV, a joint venture with Spain’s Repsol that operates the Perla gas field, with the first cargo loaded in April

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