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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Venezuela holds July 28 deadline for oil contract overhaul as talks accelerate

28 July 2026

Venezuela is pressing foreign oil companies and other partners of state producer PDVSA to complete the restructuring of their contracts by July 28

PDVSA reclaims direct oil sales as refiners challenge global traders

28 July 2026

The move puts the state oil producer at odds with traders including Vitol and Trafigura, which currently account for a large share of Venezuelan exports

Batista brothers acquire Venezuelan oil stake as US-backed reopening draws investors

28 July 2026

Brazilian billionaires Joesley and Wesley Batista are expanding their presence in Venezuela’s oil sector as US-backed efforts to reopen the country’s energy industry attract new private investment

Former PDVSA president questions US control of Venezuela oil revenue

28 July 2026

Venezuela’s oil exports generated an estimated $14.3bn in the first half of 2026, but the destination and management of those proceeds remain unclear, according to former Petróleos de Venezuela President Rafael Ramírez

Venezuela’s growth outlook holds despite earthquakes, economist says

28 July 2026

Venezuela is currently producing about 1.187mn barrels of oil a day, with output expected to reach 1.3mn barrels by year-end under a conservative scenario

Venezuela bondholder group grows as investors prepare for debt talks

28 July 2026

Investors holding Venezuela’s defaulted debt are building a broader coalition as prospects for a potential restructuring improve following the US capture of Nicolás Maduro

KOIL makes Brazil offshore debut

27 July 2026

US-based KOIL Energy has secured its first contract in Brazil, winning a subsea umbilical maintenance project that marks its entry into the country's deepwater offshore market.

Brazil FPSO beats performance target

27 July 2026

Karoon Energy said its floating production, storage and offloading (FPSO) vessel operating at the Baúna oil field offshore Brazil achieved production efficiency of 97% during the second quarter, exceeding the company's target range of 90% to 95%.

Brazil’s Petrobras P-52 return put on hold

27 July 2026

Brazil’s Petrobras has postponed the restart of its P-52 offshore production platform after a gas leak last year, with no date yet set for operations to resume, the company said.

Portugal's Galp enjoys 45% climb in profits on rising Brazilian output, Iran fallout

27 July 2026

The result exceeded the company-compiled analyst consensus of €494mn.

Brazil extends gasoline subsidy again as government resists reinstating diesel relief despite oil near $100

27 July 2026

Brazil's government has extended a subsidy of $0.08 per litre for gasoline for a further 30 days the Finance Ministry said, as rising oil prices driven by the escalating Middle East conflict pushed Brasília to keep intervening in fuel markets.

SLB OneSubsea submits lowest bids in Brazil’s Petrobras tender for 32 subsea trees

27 July 2026

SLB OneSubsea submitted the lowest bids in a tender by Petrobras for the supply of 32 subsea trees and related subsea equipment for the Sergipe Deepwater (SEAP) project, according to data released by procurement platform Petronect.

France’s Vallourec wins Allseas contract to supply pipes for Petrobras-operated Atapu 2 project

27 July 2026

French pipe maker Vallourec has secured a contract from offshore contractor Allseas to supply carbon steel seamless line pipes and thermal insulation coating for the Atapu 2 offshore oil project in Brazil.

Argentina’s Adecoagro to buy Brazilian sugar mill from Raízen for $148mn

27 July 2026

Argentine agribusiness firm Adecoagro has agreed to buy the Caarapó sugar mill in Brazil's Mato Grosso do Sul state from Raízen for BRL760mn ($148mn), as it seeks to expand its sugar, ethanol and energy business.

Brazil's oil royalties hit $7.2bn in first half, boosted by Middle East crude rally

27 July 2026

Brazil collected BRL36.5bn ($7.2bn) in oil royalties in the first half of the year, with a quarter of the total driven by a surge in crude prices linked to conflicts in the Middle East, the Brazilian Petroleum, Gas and Biofuels Institute (IBP) said.

Brazil needs more auctions, fewer licensing hurdles to boost oil reserves, say experts

27 July 2026

Brazil drilled just 19 exploratory wells in 2025, well below the levels needed to replenish its oil reserves, according to industry executives and experts, who called for more auctions and fewer environmental licensing hurdles.

Repsol CEO says Venezuela debt talks can wait as company prioritises production

26 July 2026

Repsol Chief Executive Officer Josu Jon Imaz said the Spanish energy company is focused on expanding oil and gas output in Venezuela rather than resolving billions of euros in historical debt owed by state oil producer PDVSA

Repsol expects four more Venezuela oil shipments by year-end

26 July 2026

Repsol expects to receive four additional cargoes of Venezuelan crude before the end of the year as part of agreements that allow the Spanish energy company to expand gas and oil operations in the country while recovering outstanding payments

Trump administration faces questions over $13bn in Venezuelan oil revenue

26 July 2026

The Trump administration is facing mounting scrutiny over more than $13bn in Venezuelan oil revenue collected since January, with lawmakers and economists pressing Washington to disclose how the money is being managed

OPEC and the next surplus

26 July 2026

A post-war return of constrained barrels could tip today’s uneasy balance into oversupply, forcing OPEC+ back into a market-share struggle it may no longer control.

Chevron sues Ecuador in US court to enforce $224mn arbitration award

24 July 2026

US oil major Chevron and its subsidiary TexPet have opened a new chapter in their long-running dispute with Ecuador.

Eco Atlantic advances Namibia, Guyana and South Africa exploration partnerships

24 July 2026

Eco (Atlantic) Oil & Gas said it made significant progress across its Atlantic Margin exploration portfolio during the financial year ended March 31, as agreements with BP and Navitas Petroleum advanced projects in Namibia, Guyana and South Africa.

US power firm launches World Bank arbitration against Colombia over gas market dispute

23 July 2026

US-based Glenfarne Group has initiated international arbitration proceedings against Colombia over a dispute linked to the country's natural gas market, claiming state actions undermined investments in two thermal power plants

Colombia restarts power exports to Ecuador after diplomatic rift eases

23 July 2026

Colombia will resume electricity exports to Ecuador after suspending sales earlier this year amid a diplomatic dispute, easing concerns over power supplies as both countries prepare for a potentially severe El Niño weather event

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