LatAmOil - Latin America Oil & Gas

Petroecuador sells 2.88mn barrels to China for $313mn in July-August deliveries

Petroecuador has awarded two international crude oil sales totalling 2.88mn barrels, generating estimated state revenue of over $313mn, with deliveries scheduled between July and August.

Steel pipes arrive for VMOS offshore pipeline as Argentina advances Vaca Muerta export infrastructure

Argentina’s Vaca Muerta Oil Sur (VMOS) project reached a new construction milestone this week as 721 steel pipes destined for its offshore pipeline system arrived and began being stored at the Port of San Antonio Este in Río Negro province.

ExxonMobil narrows Stabroek focus to appraisal and gas as exploration window tightens

ExxonMobil's H1 2026 Stabroek campaign targets appraisal at Barreleye-3, gas evaluation at Goatfish-1 near Suriname, and fresh oil at Goby-1 — but no new discoveries confirmed beyond the 11bn boe baseline.

Guyana opts for industry cooperation over legislation to speed oil supplier payments

Guyana's natural resources minister urges oil majors to cut supplier payment cycles voluntarily, warning that 90-120-day windows choke local firms — but stops short of legislating a fix.

Pánuco spill deepens PEMEX accountability crisis as navy suppresses footage and Congress demands testimony

PEMEX's Pánuco spill enters day eleven with two active discharge points confirmed, Congress demanding the director testify, and the Navy caught suppressing footage of a river that fishing families say never truly clears.

Mexico's Sheinbaum says she will skip Pemex-Petrobras agreement signing

Mexican President Claudia Sheinbaum said on June 19 she would not travel with the delegation from Petróleos Mexicanos (Pemex) set to formalise a legal collaboration agreement with Petróleo Brasileiro SA (Petrobras) this week.

Venezuelan oil exports nearly double as US remains top buyer

Venezuela’s seaborne crude exports have surged this year, with shipments rising 144% between January and mid-June as demand from the United States, India and the Bahamas helped drive a sustained recovery in the country’s oil trade

Oil revenue windfall raises transparency questions in Venezuela

Venezuela is on track to receive an estimated $35bn in oil export revenue this year, a sharp increase from 2025, but questions are mounting over how those funds are being managed and why the influx has yet to translate into broader economic relief

US eases Iran oil sanctions, price on Brent crude drops over 3.5%

The United States has partially lifted sanctions on Iranian oil exports following what officials have described as encouraging progress in negotiations aimed at ending hostilities between Washington and Tehran.

Brazil’s Petrobras orders four tankers in fleet expansion

Brazil’s state-controlled oil company Petrobras has contracted the construction of four medium-range oil tankers at Estaleiro Rio Grande shipyard in a deal worth $427mn.

Brazil’s Petrobras moves into biofuels push

Brazil’s state-controlled oil producer Petrobras has approved investment in a biorefining facility that will produce renewable diesel and sustainable aviation fuel, marking a step into low-carbon fuels alongside its core crude oil operations.

Brazil’s PRIO brings fourth Wahoo well online

Brazilian oil and gas producer PRIO has started production from a fourth well at its Wahoo subsea tie-back project in the Campos Basin offshore Brazil.

Australia's Melbana halts Cuba project support after US sanctions on Cupet

Australia's Melbana Energy has suspended its direct financial, technical and administrative support for its Block 9 oil exploration project in Cuba after the US government sanctioned state-owned oil company Cupet, the firm's contractual partner

Brazil's antitrust regulator clears Ecopetrol's acquisition of Brava Energia without conditions

Brazil's Administrative Council for Economic Defense (CADE) approved without restrictions Ecopetrol's acquisition of control in Brava Energia, removing a significant regulatory obstacle though operational completion remains contingent

Cuba pushes renewable drive as US sanctions squeeze fuel supplies

Cuba is accelerating its energy transition programme while grappling with severe fuel shortages caused by tighter US sanctions, First Deputy Energy and Mines Minister Argelio Jesús Abad said during a visit to Uruguay

Cocaine trade overtakes oil as Colombia's largest export

Colombia’s booming cocaine trade generated about $16.5bn in 2024, surpassing petroleum exports for the first time in more than a decade and accounting for roughly 4.4% of gross domestic product, according to a study by Eafit University’s Centre.

Colombia elects Trump-backed De la Espriella, extending region's rightward shift

Trump-backed lawyer Abelardo de la Espriella has won Colombia's presidency by a razor-thin margin, defeating Iván Cepeda as Latin America's rightward tilt gains another convert and Bogotá braces for unrest.

US LNG producer New Fortress Energy has restructuring plan approved

New York-headquartered New Fortress Energy has had its restructuring plan for two of the firm’s subsidiaries approved by a UK court.

Venezuela reviews recovery plan as focus turns to energy and investment

The strategy places significant emphasis on energy policy and the restructuring of PDVSA’s operations as Venezuela’s oil industry seeks to rebuild capacity after years marked by declining output, financial pressures and technological challenges

US-led alliance targets Orinoco belt expansion and oil export growth

Two US companies have formalised a partnership aimed at expanding Venezuela’s oil and gas output, with plans that include rehabilitating thousands of wells in the Orinoco Oil Belt and increasing crude exports to international markets

Ecuador targets 500,000 bpd output by 2027 as falling oil prices sharpen pressure to ramp up production

Ecuador's government is targeting national crude output of around 500,000 barrels per day by the end of this year or early 2027.

Energy groups warn Air-e liquidation could strain Colombia's power market

Colombia's main energy industry associations warned that a proposed liquidation of power distributor Air-e could threaten electricity and natural gas supply stability, arguing that the company plays a critical role in the national energy system

World Cup boosts Colombia's economy from Bogotá bars to national delivery surge, injecting $463mn into the capital alone

Colombia's oil-patch road blockades cost Ecopetrol 1mn barrels as labour dispute drags on

Road blockades that have paralysed operations at three of Ecopetrol’s key oilfields in Colombia’s Meta department for 50 days have prevented the production of about 1mn barrels of crude and placed 7,280 jobs at risk

Fitch affirms Argentina's Pluspetrol at 'BB', cites Vaca Muerta growth plan

Fitch Ratings affirmed Pluspetrol S.A.'s (PPSA) Long-Term Foreign and Local Currency Issuer Default Ratings at 'BB' with a stable outlook on June 19, citing the Argentine oil and gas producer's growing scale in the Vaca Muerta shale formation.