LatAmOil - Latin America Oil & Gas

Fitch places Brazilian oil producer Brava on positive rating watch after Ecopetrol bid

Fitch Ratings placed Brazilian independent oil and gas producer Brava Energia on Rating Watch Positive on May 13, citing Colombia's state oil company Ecopetrol's planned acquisition of a controlling stake in the company.

Brazil’s Compass gas unit slides on debut in first Sao Paulo IPO in over four years

Compass, the gas infrastructure arm of Brazilian conglomerate Cosan, made a weak debut on the B3 stock exchange on May 11, with shares closing their first trading session down 2.18% at approximately $4.82, below the IPO price.

Mexico's Pemex refining hits 11-year high in 1Q26, cutting fuel import dependency by 23%

S&P puts Mexico's Pemex and CFE on negative watch, warns oil giant would fail alone

Colombia misses Brent windfall as crude export volumes tumble

Colombia is failing to fully capitalise on surging global oil prices as crude export volumes continue to decline despite Brent trading above $100 a barrel

US-Venezuela trade climbs as oil exports drive recovery in ties

According to a report released by the Venezuelan-American Chamber of Commerce and Industry, bilateral trade reached $3.29bn during the first three months of the year, compared with $2.68bn in the same period a year earlier

Venezuela oil output extends recovery as US rapprochement spurs investment

Venezuela seeks to block Citgo sale as rising oil prices lift valuation

In a May 12 filing to Judge Leonard Stark, attorney Alexandra Cumings said stronger valuations across the refining sector now imply Citgo could be worth at least $15.1bn

US lawmaker contrasts Guyana's oil success with Venezuela's failure as Essequibo tensions simmer

Venezuela launches debt restructuring in bid to end decade of default

Venezuela's interim government has announced it will begin a formal restructuring of the country's external public debt, including obligations tied to state oil company PDVSA, in what could rank among the largest sovereign debt workouts in history.

Cuba to float fuel prices as sanctions deepen energy crisis

Cuba abandoned fixed retail fuel prices on May 15 after mounting import costs and tighter US sanctions made the current system financially unsustainable, the country’s Finance and Prices Ministry said

Japan commits $6.5mn for solar systems at Cuban hospitals

Japan will provide $6.5mn to help install solar power systems at 10 hospitals across Cuba as the island struggles with deepening electricity shortages that have disrupted healthcare services

Díaz-Canel says Cuba poses no threat to US amid renewed tensions

Cuban President Miguel Díaz-Canel said Cuba has never carried out actions against US national security and does not represent a threat to Washington, while warning that the island also does not “fear” the United States

Lavrov accuses US of seeking to expel Russian oil firms from global markets

Russian Foreign Minister Sergey Lavrov has accused the United States of “deliberately pushing” Russian oil companies out of international markets, including by seeking to take over Rosneft's cooperation with Venezuela.

Bolivia's YPFB says gasoline quality crisis resolved, cites storage flaws and import instability

Bolivia’s state-owned energy company YPFB said it has resolved the gasoline quality problems that recently affected vehicles across the country, after identifying structural weaknesses in fuel handling, storage and import standards.

Ecuador’s Petroecuador to restart key processing unit as Esmeraldas refinery recovery gathers pace

Petroecuador is preparing to restart a critical processing unit at the Esmeraldas refinery on May 15, in a move aimed at easing fuel supply pressures that have affected major cities including Guayaquil and Quito since early May.

YPFB seeks university oversight pact amid Bolivia fuel quality scrutiny

Bolivia’s state energy company YPFB has proposed a joint technical review with the Universidad Mayor de San Andrés (UMSA) and independent laboratories after renewed concerns over gasoline quality triggered pressure from transport unions.

Argentina's Vaca Muerta expands as Tango Energy wins concessions, eyes $1bn development

Tango Energy has obtained three 35-year unconventional oil and gas concessions in Río Negro Province, expanding its position in Argentina’s Vaca Muerta shale formation.

Petrobras eyes Pemex alliance and Mexico's underdeveloped deepwater Gulf as it seeks reserves

Mexican President tightens grip on Pemex as CEO Rodríguez's position grows precarious

Arrow Exploration finds multiple hydrocarbon zones at Colombia’s Icaco prospect

Arrow Exploration said its Icaco-1 exploration well in Colombia’s Llanos Basin encountered several hydrocarbon-bearing intervals after reaching target depth on May 9, reinforcing the development potential of the company’s Tapir Block acreage

Colombia's Ecopetrol profit rises despite lower revenue and output in first quarter

Colombia’s state-controlled oil producer Ecopetrol posted a 7.7% rise in first-quarter net profit despite weaker revenue and lower crude output

Colombia's Ecopetrol ships record 500,000-barrel fuel oil cargo from Cartagena

Ecopetrol exported a record 500,000-barrel fuel oil cargo from the Puerto Bahía terminal in Cartagena, doubling the Colombian state-run company’s previous single-shipment export capacity

ExxonMobil eyes ultra-deepwater Guyana discoveries near 3,000 metres as easy fields give way

Brazil, Guyana, Argentina seek upstream capital as global investment tightens

Brazil, Guyana and Argentina made their case to international oil investors at last week's Offshore Technology Conference (OTC) in Houston, pointing to Middle East instability as a reason to redirect upstream spending toward their countries.