LatAmOil - Latin America Oil & Gas

Chevron targets 20% increase in Venezuelan oil output by year-end

Chevron expects to lift gross oil production in Venezuela to about 300,000 barrels per day by (bpd) the end of 2026, as changes to the country’s fiscal framework improve the economics of its operations, Chief Executive Officer Mike Wirth said

NABEP plans $100bn investment to expand Venezuelan oil output

North American Blue Energy Partners plans to invest nearly $100bn in Venezuela’s oil and gas industry, seeking to expand production and upgrade infrastructure as the privately held company targets output of more than 1mn barrels per day (bpd)

Eni starts operations at Venezuela’s Junín 5 oil field, targets 200,000 Bpd

Eni has begun developing production at Venezuela’s giant Junín 5 oil field in the Orinoco Oil Belt, aiming to raise output from 12,000 barrels per day to 200,000 as the Italian energy group expands its presence in the country

GeoPark closes Venezuela entry as Gilinski takes 56% stake

Bogotá-based oil producer GeoPark (NYSE: GPRK) has completed its entry into Venezuela after a 25-year production contract for the Bare Block in the Orinoco Belt came into force, handing Grupo Gilinski roughly 56.3% of the company.

Argentina’s YPF seeks incentives for $8.7bn Vaca Muerta shale project

Argentina’s state-controlled oil producer YPF has applied for government investment incentives for an $8.73bn shale oil development in the Bajo del Toro and Bajo del Toro Norte blocks in Vaca Muerta.

Argentina’s Vista Energy raises production 33% and exports 73% of Vaca Muerta crude

Vista Energy increased its hydrocarbon production by 33% year on year to a record 169,000 barrels of oil equivalent per day in the third quarter of 2026, while exporting 73% of the crude oil it sold.

GeoPark completes Venezuela entry as Gilinski takes control

Bogotá-based oil producer GeoPark (NYSE: GPRK) has closed its entry into Venezuela and handed majority ownership to Colombia's Grupo Gilinski

Colombia LNG imports rise as gas output falls and El Niño threatens hydropower

Colombia’s reliance on imported liquefied natural gas (LNG) is increasing as domestic production declines and a strengthening El Niño threatens hydropower generation, potentially raising demand for gas-fired electricity

OPEC+ holds December output steady as 2027 call looms

OPEC+ left December production targets unchanged on November 1, deferring any fresh policy move into next year as the group grapples with Iran war export disruptions

Trump says Venezuela sent 1mn barrels of oil as a ‘gift’

US President Donald Trump said Venezuela had sent a tanker carrying 1mn barrels of crude oil as a “gift,” as his administration moves to expand American control.

Argentina’s YPF swings to $1.2bn quarterly profit as shale output boosts results

Argentina’s state-controlled oil company YPF reported a net profit of $1.196bn in the third quarter of 2026, reversing a loss of $198mn in the same period last year.

Experts question Venezuela’s claim to 303bn barrels of oil reserves

Venezuela’s claim to hold the world’s largest proven oil reserves is facing renewed scrutiny as experts question the figures supporting US plans to expand control over the country’s petroleum resources.

Trump’s Venezuela oil pact gives US broad control with few guarantees for Caracas

Brazil's Petrobras pumps record 3.5mn boepd as exports climb 20.7%

Brazil's state-run Petrobras reports record production and exports in 3Q26.

Oil shock freezes Chile's rate cuts as the economy stalls

A jump in oil prices has frozen Chile's interest rate cuts at the very moment its economy has started to shrink.

Colombia rations gas as Spec terminal repair cuts supply ahead of El Niño

Colombia’s Ministry of Mines and Energy declared scheduled natural gas rationing from October 27 after a fault in one of four regasification trains at the Spec LNG terminal in Cartagena, the only facility through which the country imports gas

Ecuador adds 110 MW of thermal power ahead of dry season

Ecuador plans to add 110 megawatts (MW) of rented thermal generation from November to strengthen electricity supplies as the country prepares for seasonal water shortages and potential El Niño-related disruption

El Niño puts Latin American mining operations under pressure

Ecuador's Petroecuador adds 19,521 barrels a day from new wells

Ecuador’s state oil company Petroecuador brought 10 new wells into production in October, adding a reported 19,521 barrels of crude a day as the country seeks to sustain output through further drilling and maintenance

Cuban envoy seeks restart of halted Mexican oil supplies

Cuba is in talks with Mexico to restart fuel deliveries that stopped this year after Washington threatened sanctions, Cuban Ambassador to Mexico Eugenio Martínez Enríquez said.

Trump revives idea of Venezuela becoming 51st US state amid oil deal

Donald Trump revived his proposal to make Venezuela the 51st US state, suggesting the South American country could eventually elect a governor instead of a president as Washington expands its access to Venezuelan oil

Trump showcases Venezuelan crude as he courts Texas voters

With fuel prices threatening Republican prospects ahead of the November 3 legislative elections, Trump made stops in Corpus Christi and Lubbock to showcase the administration’s efforts to increase oil access and reduce production costs

Venezuela’s Rodríguez criticises Russia’s exclusion from global gas trade

Venezuelan interim President Delcy Rodríguez criticised efforts to restrict Russia’s role in international gas markets, arguing that excluding major producers raises costs for consumers and undermines cooperation across the energy industry

First NABEP Venezuelan oil shipment arrives in Texas for US refiners

The first shipment of Venezuelan crude under an agreement between Washington and North American Blue Energy Partners (NABEP) reached Texas on October 27, with the US government set to sell the oil to refineries operated by ExxonMobil and Citgo

Bolivia opens door to private gas imports as output more than halves in a decade

Bolivia has authorised public and private companies to import natural gas and liquefied natural gas, a policy reversal for a country that once supplied its neighbours and now needs foreign fuel to keep its industry and power plants running.