Region: Latin America Category: Oil & Gas Frequency: Every Tuesday
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Repsol to assume direct control of Venezuela operations to drive output growth
Repsol SA will take direct control of its oil operations in Venezuela in the coming days, a move aimed at accelerating production growth and meeting its target of tripling output in the country over the next three years
Venezuela and Shell discuss Dragon gas development in push for energy exports
Venezuela stepped up efforts to expand its gas sector after Vice Minister for Europe and North America Oliver Blanco met with Shell Chairman Peter Costello to explore deeper energy cooperation and new strategic projects
Chevron deepens Orinoco footprint with PDVSA asset swap
Chevron Corp. has agreed to expand its position in Venezuela’s Orinoco Belt through a pair of deals with state oil company PDVSA, sharpening its focus on extra-heavy crude as the country seeks to revive output following sweeping sector reforms
Mexico's Pemex will need private sector to fund fracking as experts warn of infrastructure gap and high costs
Mexico President breaks with Morena orthodoxy on fracking in pragmatic shift that divides ruling party
Argentina awards FLNG installation contracts to CoreMarine and Jumbo Offshore
Argentina has awarded CoreMarine and Jumbo Offshore contracts to transport, install and connect key mooring systems for two floating liquefied natural gas (FLNG) vessels in the Golfo San Matías.
Cuba warns of ‘costs’ of any US attack while urging dialogue amid tensions
Cuba’s president Miguel Díaz-Canel said the island would resist any military action by the United States, while calling for dialogue to avoid escalation, in an interview broadcast on April 12
Trump signals potential shift to Cuba policy after Iran conflict, amid oil squeeze
US President Donald Trump said on April 13 that Washington could turn its focus to Cuba once the conflict with Iran is resolved, as the Caribbean nation faces mounting pressure from US oil restrictions
Brazil’s Petrobras extends Solstad Maritime $56mn contract for Normand Fortress
Solstad Maritime has secured a two-year contract extension with Brazil's state-owned oil company Petrobras for the construction support vessel Normand Fortress, in a deal worth approximately $56mn.
Brazil’s Petrobras strikes hydrocarbons in deep-water Campos Basin pre-salt well
Petrobras has identified hydrocarbons in a pre-salt exploratory well in the Campos Basin in what could represent a new addition to the country's vast deepwater reserves.
Brazil’s Petrobras may raise natural gas prices by 20% in May, distributors warn
Brazil's natural gas distributors fear Petrobras could raise the prices it charges them by around 20% starting in May, driven by the surge in global oil prices following the US-Israeli war on Iran, trade group Abegas said.
Brazil oil reserves climb again
Brazil’s proven oil reserves rose 3.84% in 2025 from a year earlier, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) said, reflecting additions from new projects and revisions to existing fields.
Brazil's proven oil reserves rise nearly 4% in 2025
Brazil's proven oil reserves grew by 3.84% in 2025, year on year, as new development projects, declarations of commerciality, and field revisions added billions of barrels to the national tally.
Cuba, Russia deepen energy ties as fuel shipments arrive amid crisis
Cuba and Russia reaffirmed their strategic partnership during talks in Havana on April 9, as Moscow stepped up oil shipments to the island to ease an ongoing energy crisis, officials said
Baker Hughes wins order to supply gas turbines for Argentina LNG pipeline project
Baker Hughes has secured an order from San Matias Pipeline S.A. to supply gas compression equipment for a major pipeline project in Argentina, aimed at transporting natural gas from the Vaca Muerta formation to support future LNG exports.
Grupo Cuñado expands role in Argentina’s Vaca Muerta infrastructure projects
Spain-based Grupo Cuñado has strengthened its presence in Argentina’s energy sector by supplying key materials for pipeline and storage infrastructure linked to the Vaca Muerta shale formation, the company said.
Oil majors win injunction against Brazil's 12% crude export tax; government appeals
Five major international oil companies operating in Brazil secured a court injunction on April 8 suspending the collection of a 12% crude export tax, dealing a significant blow to the government's effort to fund diesel subsidies.
Brazil’s Petrobras to refund distributors over disputed LPG auction after Lula criticism
Brazil’s state-owned oil company Petrobras has approved refunds to customers to neutralise the price effects of a LPG auction that drew sharp criticism from President Lula and triggered the dismissal of a senior executive.
Brazil’s Petrobras buys back full stake in Campos Basin fields from Petronas for $450mn
Petrobras has signed contracts to acquire Petronas Petróleo Brasil's 50% interests in two Campos Basin oil fields for $450mn, restoring the Brazilian state oil company's full ownership of assets currently producing 55,000 barrels of oil per day.
Seadrill secures $480mn Petrobras contract extension for West Polaris drillship
Seadrill has secured a three-year contract extension for its West Polaris ultra-deepwater drillship with Brazilian state-owned oil company Petrobras, adding approximately $480mn to its backlog.
Colombia's Ecopetrol downgraded by S&P after Colombia rating cut
Ecopetrol saw its credit rating lowered to BB- from BB by Standard & Poor's, following a similar downgrade of Colombia’s sovereign rating, the agency said
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