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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EnerMech secures pre-commissioning work for Guyana offshore oil development
Scottish energy services firm EnerMech has won a contract to provide pre-commissioning work for the Whiptail offshore oil project in Guyana, awarded through Italian contractor Saipem.
Banks in talks to lend $1bn for Argentine gas pipeline project
A group of international banks led by JPMorgan Chase & Co and Citigroup Inc is in discussions to provide around $1bn in loans for a natural gas pipeline in Argentina.
Argentine to boost crude exports with Vaca Muerta Oil Sur project date confirmed
Argentina is positioned to begin crude oil exports from Río Negro province by December 2026 through the $3bn Vaca Muerta Oil Sur pipeline.
Brazil’s Petrobras’ Tupi field returns to 1mn barrels
The Tupi/Iracema field in Brazil’s Santos Basin reached output of 1mn barrels per day, returning to a level last recorded in 2019, according to Petrobras.
Venezuela moves to overturn Citgo sale order
Venezuela, its state oil company PDVSA and related entities have asked the United States Court of Appeals for the Third Circuit to set aside a Delaware judge’s order approving the sale of PDV Holding.
Canada could offer oil expertise to US on Venezuela
A Canadian oil industry executive has proposed that Canada use its heavy oil expertise to assist the United States in restoring Venezuela’s oil sector, saying Ottawa is well placed to support recovery efforts.
Venezuela could add 300,000 barrels daily under favourable terms
Venezuela could increase petroleum output by 200,000 to 300,000 barrels daily within months if upstream investment resumes under appropriate conditions, though structural obstacles and elevated breakeven costs constrain longer-term recovery prospects
Venezuela oil revival under US spotlight
Venezuela’s oil industry, once the backbone of its economy, has become the focus of renewed US attention amid years of declining output and fuel shortages, according to statements by US officials and energy experts.
Offshore drilling activity stabilises in Mexico as Pemex clears contractor debts including in Veracruz
The number of offshore oil rigs operating in Mexican waters stabilised at the end of 2025 following renewed payments to contractors by state oil company Pemex and tentative signs of increased activity by international oil companies.
Peru to open Petroperú assets to private capital under June timeline
Peru’s government expects to sign the first contracts allowing private capital into state oil company Petroperú by June, as part of a restructuring designed to stabilise the heavily indebted refiner without relinquishing state control.
Brazil oil and gas output rises nearly 14% in November, more pre-salt reserves to be developed
Brazil's oil and natural gas production reached 4.920 mn barrels of oil equivalent per day in November 2025, with crude output climbing 13.9% from the same month a year earlier despite a monthly decline.
Spain says no pressure on Repsol over Venezuela investment despite Maduro ouster
Spain's foreign minister said on January 12 the government would not pressure energy company Repsol over its plans to increase investment in Venezuela, despite the complex situation following the capture of President Nicolas Maduro.
Guyana's oil production to exceed 1mn barrels per day once Uaru gets underway
Guyana is advancing its Uaru offshore development to push national oil production decisively past 1mn barrels per day, deepening extraction in the proven Stabroek Block rather than opening new frontiers.
Mexican government's support of Pemex surges to historic $22.0bn
Transfers from the federal government to Petróleos Mexicanos (Pemex) continued increasing towards the end of 2025, far exceeding approved amounts for the year and surpassing spending in other areas including housing and environment
Mexican Maya crude faces competition as Venezuelan barrels re-enter market
Mexican Maya crude will likely face pressure from Venezuelan barrels as Mexico's export availability contracts and Venezuelan heavy crude re-emerges in Atlantic Basin trade, S&P Global reported, citing observers and analysts.
Offshore drilling activity stabilises in Mexico as Pemex clears contractor debts
The number of offshore oil rigs operating in Mexican waters stabilised at the end of 2025 following renewed payments to contractors by state oil company Pemex and tentative signs of increased activity by international oil companies
US moves in Venezuela are being felt half a world away in Asia
Venezuela itself has long occupied an unusual position in Asian oil markets. Its crude is heavy, sulphur-rich and difficult to process, yet it has found a natural home among a small subset of Asian refiners willing to adapt for the right price.
Trafigura and Vitol set to handle Venezuelan oil sales under US oversight
Global trading houses Trafigura and Vitol have agreed to provide logistics and marketing services for Venezuelan crude at the request of the US government
Venezuela says seized oil tanker is returning after joint operation with US
Venezuela said an oil tanker that departed the country without authorisation has been intercepted and is returning to its waters following what authorities described as a joint operation with the United States
Venezuela’s potential comeback adds strain to US shale amid low oil prices
The capture of Nicolás Maduro has weighed on the shares of independent drillers including Diamondback Energy and Devon Energy, reflecting investor unease about future supply dynamics
Trump weighs blocking Exxon from Venezuela investment after CEO criticism
US President Donald Trump said he is considering excluding ExxonMobil from investing in Venezuela after the company’s chief executive described the country as “uninvestable”
Trump orders protection of Venezuelan oil funds held in US accounts
The White House said the decision to protect the funds, which are deposited with the US Treasury Department, was taken under a declaration of national emergency
Trump hints at Venezuela talks after oil proposal
vSpeaking to reporters aboard Air Force One on January 11, Trump said Washington was “working very well with the leadership” in Caracas and suggested discussions could evolve further
Cuba braces for economic collapse as US blocks Venezuelan oil supplies
US President Donald Trump has warned Cuba it will no longer receive oil supplies or financial support from Venezuela, calling on the island's government to negotiate terms with Washington in the aftermath of last week's ouster of Nicolas Maduro.
Venezuela floating oil storage surges to three-year high as US tightens control
Venezuelan crude held in floating storage jumped to over 29mn barrels by January 10, up from approximately 20mn barrels earlier in the week, marking the highest level in more than three years as the United States tightened control over the OPEC

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