LatAmOil - Latin America Oil & Gas

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

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

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

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

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

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 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.

Fire at Mexico’s Pemex's Salina Cruz refinery injures six during cooling tower works

Brazil’s Petrobras posts record quarterly output of 3.23mn bpd in Q1

State-owned Petrobras posted its highest average quarterly production during Q1 at of 3.23mn barrels of oil equivalent per day, up by 16.1% year on year.

Guyana's oil could prompt wider investment in northern Brazil, Caribbean

Guyana’s transformation from frontier explorer to global heavyweight is accelerating into a broader geopolitical and industrial story. The small country is no longer being pitched merely as an offshore success, but as a wider regional accelerator.

Peru's $2bn Petroperú lifeline raises questions of sovereign exposure

Peru hands Petroperú a $2bn credit line — and calls it something other than a bail-out. The financial engineering is sophisticated. The sovereign risk is not.

YPF posts spike in net profit in Q1 of 2026

Argentine national oil company YPF reported a $409mn net profit for the first quarter of 2026, reversing a $10mn loss from the same period last year.

Colombia's Ecopetrol chief charged over alleged breaches in Petro campaign spending

Colombian prosecutors charged Ecopetrol president Ricardo Roa on May 12 over alleged irregularities in the financing reports of President Gustavo Petro’s 2022 election campaign

Brazil’s Petrobras first-quarter profit falls 7.2% but beats expectations as production surges

Brazil’s state-owned oil company Petrobras posted a 7.2% drop in net profit for the first quarter of 2026 compared to a year earlier, as real appreciation weighed on costs and the full benefit of surging oil prices had yet to flow through to revenues

Brazil's oil exports to China more than double as Hormuz closure reshapes crude flows

Brazil more than doubled its oil export volumes to China in the first quarter of 2026 as the closure of the Strait of Hormuz forced Asian refiners to seek alternative supplies, cementing Brazil's emergence as a critical swing supplier to China.

Brazil gas supply jumps 12% in 2025 as domestic output offsets weaker hydropower

Brazil's primary natural gas supply rose 12% in 2025, driven by higher domestic production and reduced hydropower generation, the International Energy Agency (IEA) said in its Global Energy Review 2026.

Repsol receives first Venezuelan crude shipment under gas supply agreement

The arrangement is intended to secure the long-term sustainability of gas production at Cardón IV, the offshore project jointly operated by Repsol and Italy’s Eni