LatAmOil - Latin America Oil & Gas

Venezuela oil deal offers 2.5mn-barrel recovery path, Oxford says

A new US-Venezuela oil agreement could put the country's battered economy on a stronger growth path and improve its fiscal and debt position, Oxford Economics said

Venezuela blames power sabotage on oil deal protests

Venezuela's interim President Delcy Rodríguez accused protesters of sabotaging the country's electricity system following the signing of oil agreements with the US

Venezuela-US oil deal faces legal questions over concessions and control

At the centre of the dispute is North American Blue Energy Partners, which was granted rights to develop more than 65bn barrels of Venezuelan reserves without a public tender

Wright says lower Venezuela risk will unlock new energy investment

US Energy Secretary Chris Wright said a sharp reduction in perceived risk in Venezuela is opening the door to a new wave of investment in the country's energy industry

PDVSA uses treasury accounts as shield against creditor claims

The arrangement is intended to reduce the risk that creditors pursuing claims against PDVSA could target company-held funds

Brazil, Venezuela drive 10% surge in Latin America oil output

Brazil and Venezuela helped drive a 10% year-on-year increase in Latin American and Caribbean oil production in April, with the region producing 318mn barrels, according to the Latin American and Caribbean Energy Organization

Venezuela inflation slows to 8.9% in August after July surge

The National Consumer Price Index rose 8.9% from the previous month, the central bank said Friday, pointing to a more stable exchange rate and improved distribution of goods and services

Venezuela says it retains oil ownership under US deal

Venezuela sought to draw a line between foreign investment and control of its natural resources, saying it retains ownership of its oil reserves under a landmark agreement with the US to develop 17 fields containing about 65bn barrels of crude

Arrow Exploration hits record 6,000 boepd production in Colombia

Arrow Exploration reported record corporate production exceeding 6,000 barrels of oil equivalent per day, driven by drilling success, strong workover results and its recently acquired Thorsby field in Alberta, Canada, the company said in a statement

Colombia's De La Espriella pushes two close friends for top Ecopetrol positions

Colombian President Abelardo de la Espriella is pushing his business partner and campaign chief, Joaquín Gutiérrez, to lead state oil company Ecopetrol, while placing his electoral strategist, Carlos Suárez

Brazil’s Petrobras oil find at mouth of Amazon could rival Guyana's light crude, sources say

Preliminary analysis of oil samples from Petrobras' Morpho well, at the mouth of the Amazon River, indicates crude with an API gravity of between 35 and 40, a quality that would place it among the lightest ever discovered in Brazil.

Brazil expects $4.4bn from 2027 pre-salt oil auction

Brazil's government expects to raise $4.4bn from an extraordinary pre-salt oil auction in 2027, revenue that will be crucial to delivering the country's first effective primary fiscal surplus in years.

Brazil advances on two fronts in oil and gas regulation

Brazilian authorities took two separate steps to expand the country's oil and gas sector this week, clearing new exploratory drilling off the Amazon coast while approving dozens of onshore blocks in the northeast for future licensing.

Raúl Castro makes public appearance in Cuba, quelling health rumours

Cuba adds generation capacity as grid deficit eases from previous day

Cuba expected to boost electricity generation capacity by late afternoon on September 6 with the reconnection of unit four at the Carlos Manuel de Céspedes thermoelectric plant in Cienfuegos, adding roughly 145 MW to the national grid

Cuba says no talks with US under way, calls embargo 'genocidal'

IEB Construcciones wins $15.4mn contract for Argentina LNG project

Argentine construction company IEB Construcciones has won a 23.336bn peso ($15.4mn) engineering, procurement and construction contract to develop an operations base and warehouse supporting Southern Energy's LNG export project at San Antonio Este.

Fitch affirms Tecpetrol at BB- as Vaca Muerta boosts production outlook

Fitch Ratings has affirmed Tecpetrol S.A.'s long-term foreign- and local-currency issuer default ratings at BB- with a stable outlook, citing growing production, reserves, exports and low-cost operations.

Argentina's Neuquén prepares new tenders to expand Vaca Muerta gas development

Argentina's Neuquén province is preparing a second 2026 tender round under its Exploratory Plan to attract investment in oil and gas areas in Vaca Muerta.

Brazil oil output hits record 4.5mn barrels per day

Brazil’s oil production reached a record 4.5mn barrels per day in July, up 0.5% from June and 13.6% from a year earlier, according to data released by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Brazil tax tribunal cancels $650mn Petrobras claim

Brazil’s administrative tax appeals court, Carf, has overturned a BRL3.4bn ($650mn) tax assessment against Petrobras, removing a major fiscal contingency for the state-controlled oil company.

Argentina escalates Falklands dispute as Trump leaves UK support in doubt

Javier Milei has threatened sanctions on oil companies near the Falklands and promised new naval funding, hardening Argentina's claim days after Donald Trump declined to rule out shifting US policy on the islands.

Argentina's Neuquén province to build 1000 km of roads, remedying oil transport hurdle

Argentina’s Neuquén Province announced that it will formalize an infrastructure financing agreement with major oil companies operating in Vaca Muerta, pre-funding approximately 1,000 km of road construction before year-end.

Argentina to build 207km Vaca Muerta pipeline, oil companies will finance 1000 km in roads

Río Negro Governor Alberto Weretilneck signed an agreement with Oleoductos del Valle SA for the 207km Duplicar Norte pipeline, significantly boosting Argentina’s oil transportation capacity.

BP sells stakes in Brazil, US Gulf of Mexico exploration blocks to Shell

BP has agreed to sell part of its ownership in an offshore exploration block in Brazil and five leases in the US Gulf to Shell.