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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US watchdog launches review of $13bn Venezuelan oil revenue fund
The inquiry follows requests from lawmakers for greater transparency over the management of the proceeds
Venezuela oil contract overhaul advances despite delays in final agreements
Venezuela is pressing ahead with the overhaul of dozens of oil joint ventures under its new hydrocarbons framework, even as outstanding permits and ancillary agreements continue to slow the completion of projects
Brazil’s Petrobras nears key Amazon well target
Petrobras is less than 500 metres from reaching the target reservoir at its Morpho exploratory well in the Foz do Amazonas Basin, bringing the company closer to completing the first drilling campaign in Brazil's Equatorial Margin.
Brazil targets cheaper gas for industry
Brazil’s Petrobras lifts jet fuel prices
Petrobras has raised average jet fuel prices to distributors by 1.9%, its latest monthly adjustment as the state-run oil company continues aligning domestic aviation fuel prices with global oil and currency movements.
Petroecuador lifts Lago Agrio-Libertador output as Ecuador pushes crude growth
Petroecuador has increased crude production at its Lago Agrio-Libertador asset to 26,230 barrels per day (bpd), up from 19,800 bpd recorded in February 2025, as Ecuador seeks to strengthen oil output and public revenue, the state-owned company said
Brazil’s Petrobras extends PLSV fleet contracts
Petrobras has extended charter and service contracts for four pipelay support vessels (PLSVs) operated by a joint venture between DOF and TechnipFMC, securing the vessels for continued subsea operations offshore Brazil.
Cuba restores power gradually after nationwide grid collapse amid fuel shortages
Cuba began gradually restoring electricity on August 3 after the national power grid collapsed late on August 2, marking another nationwide blackout as fuel shortages and ageing infrastructure continue to strain the island's energy system
Brazil opens federal gas market
Brazil has approved new rules allowing federally owned natural gas to be sold directly to the country's liberalised market through competitive auctions, a measure the government says could lower gas prices and improve industrial competitiveness.
Brazil caps gas prices to Brent
Brazil's state natural gas distributors have published the first long-term supply contracts incorporating Brent crude price floors and ceilings, a move aimed at reducing price volatility for industrial consumers while maintaining oil-linked pricing.
Hunt oil signs Venezuela agreement to assess crude development opportunities
María Julia Aybar, the company's senior vice president and country manager for Peru and Latin America, said the Dallas-based producer views the initiative as an opportunity to expand its regional footprint
Chevron expects Venezuela to repay debt by early 2027 as output climbs
Chevron Corp. expects to recover all outstanding debt owed by the Venezuelan government by early 2027, Chief Financial Officer Eimear Bonner told investors during the company's earnings call on July 31
IMF says Guyana's economy grew nearly 20% in 2025 on oil boom
Guyana's economy expanded by more than 19% in 2025 as oil production surged past 900,000 barrels per day, the International Monetary Fund (IMF) said on July 31.
Sempra pushes back commissioning of Mexico’s Energia Costa Azul LNG
Sempra LNG developer Sempra is extending the commissioning of Phase 1 of the Energia Costa Azul project in Ensenada, Mexico.
Eni sees fast-track expansion at Venezuela's Junín 5 amid contract talks
Chief Executive Claudio Descalzi said negotiations with Venezuelan authorities and the group's US partners had been constructive, underscoring the strategic importance of the Orinoco Belt asset
Petrobras cuts fuel imports as US-Iran war drives refining to record highs
Brazil's state-run oil company Petrobras cut imports of oil derivatives to about 67,000 bpd in the second quarter.
Brazil’s Petrobras' P-33 platform departs Port of Açu for sustainable recycling in Rio Grande
Petrobras said its P-33 platform set sail from the Port of Açu, in São João da Barra, Rio de Janeiro state, bound for a shipyard in Rio Grande, Rio Grande do Sul, where it will undergo sustainable recycling.
Brazil's fuel subsidies to cost $1.3bn per month, minister says
Brazil's government will spend about BRL6.8bn ($1.3bn) per month on subsidies to soften fuel prices, Planning and Budget Minister Bruno Moretti said, comprising roughly BRL1.3bn monthly for gasoline and BRL5.5bn for diesel.
Karoon's Baúna FPSO in Brazil hits record 97.2% operating efficiency in second quarter
Karoon Energy said the FPSO vessel Cidade de Itajaí, operating at its Baúna field off the coast of Brazil, reached operating efficiency of 97.2% in the second quarter, above its targeted range of 90-95% and up from 96.1% in the first quarter.
Brazil’s Petrobras output hits new record as FPSO capacities maxed out
Petrobras increased its oil and natural gas production by 14% in the second quarter from a year earlier, reaching a record 3.34mn barrels of oil equivalent per day (boepd), as new offshore production units boosted output at Brazil's pre-salt fields.
Bolivia arrests former hydrocarbons minister over faulty fuel scandal
Bolivian police arrested former Hydrocarbons Minister Mauricio Medinaceli in La Paz as part of an investigation into the purchase of substandard fuel by Rodrigo Paz's government.
Paratus exits Mexican drilling business after completing Fontis sale
Paratus completes the sale of Fontis' Mexican drilling business, accelerating its transformation into a pure-play offshore infrastructure services provider with stronger cash flow visibility and a fully contracted PLSV fleet.
Curaçao tests its ambitions to become the logistics backbone of the Guiana Basin oil boom
Curaçao is seeking to capitalise on the Guiana Basin's offshore expansion by offering crude storage, transshipment and maritime services. But without firm operator commitments, its logistics hub ambitions remain a strategic bet.
Guyana advances Whiptail development as ExxonMobil begins subsea installation
Subsea installation has begun on ExxonMobil's $12.7bn Whiptail project, advancing Guyana's next major offshore oil development towards first production in 2027 and boosting future output to around 1.3mn bpd.

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