LatAmOil - Latin America Oil & Gas

Venezuelan non-oil exports pick up as firms push into new markets

Venezuela’s non-traditional export sector delivered a stronger performance in the first half of 2025, with overseas sales rising 5.58% from a year earlier and generating more than US$1.1bn, according to the country’s exporters’ association

COP30: Record number of fossil fuel lobbyists descend on UN climate talks

UN climate talks have entered their second week with battle lines drawn over fossil fuels, as dozens of countries demanded a roadmap to phase out oil, coal and gas in the face of fierce resistance from producers and oil lobbyists.

Canada's Frontera Energy plans infrastructure spin-off in Colombia

Canadian energy company Frontera Energy announced plans to separate its Colombian infrastructure business through a spin-off transaction creating two independent entities: Frontera Exploration & Production and Frontera Infrastructure

Colombia's Ecopetrol profit falls 32% on lower oil prices, infrastructure disruptions

Colombia's state-owned Ecopetrol reported a 32% decline in net profit to COP7.5 trillion ($2.0bn) for the first nine months of 2025 compared with the same period last year

Colombia leads push for fossil fuel phase-out declaration at Brazil Climate Summit

Colombia is spearheading a political declaration at the United Nations Climate Change Conference (COP30) in Belém, Brazil, urging nations to transition away from fossil fuels in alignment with the Paris Agreement's 1.5°C global temperature limit

Chevron seeks tax relief; wants to triple Argentine production

Chevron has called on Argentina's government to implement tax reforms and relax capital controls as the energy giant seeks to triple its production in the country's Vaca Muerta shale formation over the next decade.

Pluspetrol to sell three hydrocarbon blocks in Argentina

Argentina's Pluspetrol has initiated the sale of three Vaca Muerta blocks acquired from ExxonMobil in 2024 for $1.7bn, seeking to concentrate capital on its highest-potential developments in the formation.

Oldelval and Trafigura inaugurate new pipeline in Argentina's Vaca Muerta

Trinidad’s Touchstone reports lower quarterly earnings as gas-weighted

Touchstone Exploration posted mixed third-quarter results, with higher production volumes offset by weaker realisations and reduced operating margins

China's CNOOC signals deeper push Into Trinidad’s energy sector

China National Offshore Oil Corporation is exploring a larger role in Trinidad and Tobago’s upstream industry after senior executives held talks with the government.

Venezuela posts highest quarterly oil output in five years

The country pumped an average of 1.095mn barrels per day (bpd) between July and September, a 17.3% rise from the same period in 2014, when volumes stood at 933,000 bpd

Brazil’s Petrobras awards PXGEO two OBN seismic contracts in Santos Basin

PXGEO has been awarded two contracts by a consortium led by Brazil’s state-owned oil company Petrobras to deliver seismic data acquisition and monitoring services in the Santos Basin offshore Brazil

Brazil's PPSA plans oil and gas auctions for 2026

Brazil's state-owned Pré-Sal Petróleo SA (PPSA) is preparing to hold auctions to sell oil and gas in 2026, with an oil auction scheduled for July and a gas tender planned for the first half of the year.

Brazil’s Petrobras weighs lower capex despite strong results, accelerated investment pace

Brazil's state-owned oil producer Petrobras is weighing a reduction in capital spending to $106bn for its next five-year plan, reflecting bearish expectations for crude prices.

Brazil’s Petrobras signs first small-scale LNG contract for Amazon gas supply

Petrobras and Amazônica Energy have signed the first contract for sale of natural gas from the Urucu Cluster for small-scale commercialisation of liquefied natural gas (LNG) in Amazonas state

Judge rejects Venezuela and Gold Reserve bid to halt Citgo-linked auction

A US federal judge has dismissed attempts by Venezuela and miner Gold Reserve to remove him, a court-appointed officer and two advisory firms from the court-run auction of PDV Holding, the parent company of Citgo Petroleum

Mexico authorities, Pemex dismiss LPG shortage claims amid rationing warnings

Brazil exploration and production capital spending set for $31.4bn in 2026

Brazilian exploration and production (E&P) capital expenditure is projected to hit $31.4bn in 2026, based on estimates from oil and gas regulator the ANP.

EXPLAINER: Lukoil scrambles to sell its international operations

Time is running short for Russia’s second-biggest oil producer to divest its vast international business, after it was hit with US sanctions that will soon render its assets outside Russia effectively inoperable.

Brazil’s PRIO secures operatorship of key offshore oil field

Equinor has completed the transfer of its operated stake in Brazil’s Peregrino field to PRIO. The deal gives the Brazilian company full control of the asset through the purchase of a 40% interest.

Latin America will be key driver of non-OPEC+ supply through 2030

South America is emerging as a cornerstone of future global oil supply, with offshore projects in Brazil, Guyana, and Suriname - and Argentina’s Vaca Muerta shale play - poised to deliver cost-competitive barrels through the end of the decade.

Oil production in hot seat at COP 30 in Brazil

Brazil will use some of its oil revenues to fund the energy transition, says its president. But fossil fuel use still looms large over COP 30, the annual UN climate meet and the world’s largest.

Colombia's state energy firm Ecopetrol reshuffles leadership

Ecopetrol appointed Juan Carlos Hurtado Parra as executive vice president of hydrocarbons and confirmed Rodolfo Mario García Paredes as chief compliance officer, effective November 16, the company's board of directors announced

Colombia moves to raise tariffs on imported cars

Colombia’s Ministry of Trade, Industry and Tourism Diana Marcela Morales Rojas, published a draft decree proposing higher import tariffs on petrol- and diesel-powered cars and motorcycles

Ecuador cuts gasoline prices days before controversial referendum

Ecuador's government announced that prices for low-octane gasoline will decline by seven cents per gallon starting November 12, in a move that comes five days before a contentious referendum on constitutional reform