LatAmOil - Latin America Oil & Gas

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Oil & Gas

Region: Latin America   Category: Oil & Gas Frequency: Every Tuesday

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Overview

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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Portugal's Galp enjoys 45% climb in profits on rising Brazilian output, Iran fallout

27 July 2026

The result exceeded the company-compiled analyst consensus of €494mn.

Brazil extends gasoline subsidy again as government resists reinstating diesel relief despite oil near $100

27 July 2026

Brazil's government has extended a subsidy of $0.08 per litre for gasoline for a further 30 days the Finance Ministry said, as rising oil prices driven by the escalating Middle East conflict pushed Brasília to keep intervening in fuel markets.

SLB OneSubsea submits lowest bids in Brazil’s Petrobras tender for 32 subsea trees

27 July 2026

SLB OneSubsea submitted the lowest bids in a tender by Petrobras for the supply of 32 subsea trees and related subsea equipment for the Sergipe Deepwater (SEAP) project, according to data released by procurement platform Petronect.

France’s Vallourec wins Allseas contract to supply pipes for Petrobras-operated Atapu 2 project

27 July 2026

French pipe maker Vallourec has secured a contract from offshore contractor Allseas to supply carbon steel seamless line pipes and thermal insulation coating for the Atapu 2 offshore oil project in Brazil.

Argentina’s Adecoagro to buy Brazilian sugar mill from Raízen for $148mn

27 July 2026

Argentine agribusiness firm Adecoagro has agreed to buy the Caarapó sugar mill in Brazil's Mato Grosso do Sul state from Raízen for BRL760mn ($148mn), as it seeks to expand its sugar, ethanol and energy business.

Brazil's oil royalties hit $7.2bn in first half, boosted by Middle East crude rally

27 July 2026

Brazil collected BRL36.5bn ($7.2bn) in oil royalties in the first half of the year, with a quarter of the total driven by a surge in crude prices linked to conflicts in the Middle East, the Brazilian Petroleum, Gas and Biofuels Institute (IBP) said.

Brazil needs more auctions, fewer licensing hurdles to boost oil reserves, say experts

27 July 2026

Brazil drilled just 19 exploratory wells in 2025, well below the levels needed to replenish its oil reserves, according to industry executives and experts, who called for more auctions and fewer environmental licensing hurdles.

Repsol CEO says Venezuela debt talks can wait as company prioritises production

26 July 2026

Repsol Chief Executive Officer Josu Jon Imaz said the Spanish energy company is focused on expanding oil and gas output in Venezuela rather than resolving billions of euros in historical debt owed by state oil producer PDVSA

Repsol expects four more Venezuela oil shipments by year-end

26 July 2026

Repsol expects to receive four additional cargoes of Venezuelan crude before the end of the year as part of agreements that allow the Spanish energy company to expand gas and oil operations in the country while recovering outstanding payments

Trump administration faces questions over $13bn in Venezuelan oil revenue

26 July 2026

The Trump administration is facing mounting scrutiny over more than $13bn in Venezuelan oil revenue collected since January, with lawmakers and economists pressing Washington to disclose how the money is being managed

OPEC and the next surplus

26 July 2026

A post-war return of constrained barrels could tip today’s uneasy balance into oversupply, forcing OPEC+ back into a market-share struggle it may no longer control.

Chevron sues Ecuador in US court to enforce $224mn arbitration award

24 July 2026

US oil major Chevron and its subsidiary TexPet have opened a new chapter in their long-running dispute with Ecuador.

Eco Atlantic advances Namibia, Guyana and South Africa exploration partnerships

24 July 2026

Eco (Atlantic) Oil & Gas said it made significant progress across its Atlantic Margin exploration portfolio during the financial year ended March 31, as agreements with BP and Navitas Petroleum advanced projects in Namibia, Guyana and South Africa.

Colombia restarts power exports to Ecuador after diplomatic rift eases

23 July 2026

Colombia will resume electricity exports to Ecuador after suspending sales earlier this year amid a diplomatic dispute, easing concerns over power supplies as both countries prepare for a potentially severe El Niño weather event

US power firm launches World Bank arbitration against Colombia over gas market dispute

23 July 2026

US-based Glenfarne Group has initiated international arbitration proceedings against Colombia over a dispute linked to the country's natural gas market, claiming state actions undermined investments in two thermal power plants

LatAm state oil companies face policy risks despite higher crude prices, Moody’s says

23 July 2026

Higher global oil prices are unlikely to translate into stronger credit profiles or proportionally larger financial gains for several of Latin America's state-backed oil companies, Moody's says.

Argentina streamlines oil export rules amid record crude shipments

23 July 2026

Argentina has introduced a new regulatory framework to simplify crude oil and refined product exports, as the country experiences a surge in overseas energy sales driven by rising production from the Vaca Muerta shale formation.

Pacific Coast Energy nears deal to develop Venezuela oil fields with PDVSA

23 July 2026

Pacific Coast Energy Co. is nearing an agreement with Venezuela's state oil company to take part in developing crude fields in the country's east, as Caracas moves to accelerate deals with foreign investors to revive production

Mexico to explore deeper layers of Cantarell oil field with Petrobras technology

22 July 2026

Mexican President Claudia Sheinbaum said Mexico will explore deepwater layers beneath the depleted Cantarell oil field in a partnership with Brazil’s state-controlled Petrobras, following the June 23 memorandum.

Moody's says Colombia fuel subsidies curb Ecopetrol gains from higher oil prices

22 July 2026

Colombia's fuel price subsidies are limiting the financial benefit that state-controlled Ecopetrol receives from higher crude prices, although the company remains a net beneficiary of stronger international oil markets, according to Moody's Ratings

Bolivia rules out YPFB privatisation, plans overhaul of state energy firm

22 July 2026

Bolivia's government has ruled out privatising state oil company YPFB, saying it will remain under state control given its strategic status, even as officials acknowledge the firm faces significant financial and supply problems.

Guyana’s oil expansion nears one million barrels per day, reshaping regional energy dynamics

22 July 2026

Guyana’s oil boom is approaching a new milestone as Uaru prepares to push national production beyond one million barrels per day.

Peru seeks to lock in long-term energy planning as incoming government faces regulatory test

22 July 2026

Peru is moving to institutionalise 30-year energy planning just before the presidential transition, but investors remain focused on delayed electricity market regulations that will determine the pace of renewable deployment.

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