LatAmOil - Latin America Oil & Gas

Uruguay emerges as offshore exploration hotspot as YPF, majors and independents expand activity

Uruguay is increasingly being viewed as one of the most promising offshore oil frontiers in the Western Hemisphere.

Eight tremors hit Argentina's Vaca Muerta shale region in five days

The town of Añelo in Argentina’s Neuquén province was shaken by eight earthquakes between May 27 and May 31, marking an unprecedented sequence of five consecutive days of seismic activity in the heart of the Vaca Muerta shale formation.

YPF says Argentina LNG project will require $50bn investment

Argentina's state-controlled energy company YPF said its Argentina LNG project will require a total investment of $50bn and is expected to begin development in 2027.

Chevron seeks record $14bn investment in Vaca Muerta under RIGI scheme

Chevron has applied to Argentina’s Large Investment Incentive Regime (RIGI) for a $13.8bn upstream development project in the El Trapial area of Neuquén province.

Mexico's Pemex escapes Moody's downgrade as investors urge the company to tap global bond markets

Moody's has affirmed Pemex's ratings despite recently cutting Mexico's sovereign rating one notch to Baa3, citing expectations of continued strong government support for the state oil company.

Brazil’s Lula says Petrobras close to Equatorial Margin announcement as oil investments mount

Lula da Silva said Petrobras is on the verge of announcing whether commercially viable oil reserves exist in the country's Equatorial Margin while the company separately confirmed a deal with SBM Offshore for two deepwater production vessels.

Peru throws another $2bn into the Petroperu black hole

Peru's new $2bn trust buys operational time for Petroperú but cannot fix a deeper crisis of collapsing governance, union warfare, and looming New York cross-default risks. A deep dive into why financial engineering isn't enough.

Guyana set for major oil revenue increase with higher prices, greater state cost recovery

Guyana could collect about $4.3bn in oil revenues in 2026, a 67% increase from the previous year, if crude prices remain at $100 per barrel through the end of the year.

Chevron sees Venezuela output reaching 250,000 bpd by 2028, ExxonMobil and ConocoPhillips still mulling returning

Chevron Corp. expects to significantly expand its Venezuelan oil production over the next several years as the company positions itself to benefit from a broader reopening of the country’s energy sector.

Brazil on track to exceed pre-salt oil revenue target as Middle East conflict lifts crude prices

Brazil's government had already collected 80% of its full-year pre-salt oil revenue forecast by May, with surging crude prices following the outbreak of the Middle East conflict pointing to a significant overshoot of the original target.

Brazil pushes new offshore frontier

Petrobras has signed agreements with SBM Offshore for two floating production, storage and offloading vessels tied to the Sergipe Deepwater Project, advancing plans to expand oil and gas production off Brazil’s north-eastern coast.

Guyana crude output dips to 903,000 bpd in April but stays near record on four-month average

Mexico’s Pemex to sign deepwater exploration deal with Petrobras this month

Guyanese crude output dips lower in April

Guyana's offshore crude oil production averaged 903,000 barrels per day in April 2026, representing a modest monthly decline from 910,000 bpd in March, government data showed.

Guyana poised for massive oil growth amid Strait of Hormuz blockade

The US-Israeli war with Iran has crystallised Guyana's position as a geopolitically indispensable energy source, accelerating an economic transformation that has already established the Caribbean country as the world's fastest-growing economy.

Canada’s Frontera Energy pivots from exploration to LNG

Calgary-headquartered Frontera Energy has completed the divestiture of its Colombian exploration and production assets to Parex Resources.

Venezuela pushes oil investors toward self-generated power amid grid strains

Venezuela is moving to require oil and gas operators to produce their own electricity, a policy designed to shield energy projects from the country’s fragile power network while supporting plans to expand hydrocarbon output

US Treasury custody requirement reshapes fuel payments in Venezuela

Operators must transfer funds to a custody account overseen by the US Treasury and submit proof of payment to PDVSA to maintain uninterrupted access to fuel services at the country’s airports and ports

Venezuela signals new oil investment push as Rodríguez heads to India

Venezuela is preparing to secure fresh capital for its energy industry, with interim president Delcy Rodríguez saying a new round of agreements aimed at expanding crude production is expected to be completed this week before she departs for India

ExxonMobil's Guyana activities are yielding higher output and cost advantages

ExxonMobil's planned eight-vessel floating production, storage and offloading (FPS) network in Guyana's Stabroek Block is creating a critical infrastructure advantage: the ability to develop smaller oil accumulations through low-cost tiebacks.

YPF eyes offshore expansion starting with Uruguay block, CEO says

Argentina's state-owned energy firm YPF is turning its attention to deepwater exploration as it looks to diversify beyond its core onshore business, chief executive Horacio Marin said on June 1.

Colombia’s gas output slides as import dependence deepens ahead of El Niño

Colombia’s natural gas production fell 14.2% year-on-year in April to 694mn cubic feet per day (mmcfd) (19.65mn cubic metres per day), increasing the country’s reliance on imported fuel just as forecasts point to the arrival of El Niño

Colombia LPG consumption rises as industrial demand drives growth

Colombia's liquefied petroleum gas (LPG) consumption increased 7.6% in 2025, supported by stronger demand from industrial and commercial users, while the fuel continued expanding its role in energy access across the country

Canada's Parex becomes Colombia’s largest independent producer after Frontera asset deal

Parex Resources has completed the acquisition of Frontera Energy’s Colombian exploration and production business in a transaction valued at up to $750mn, including assumed debt, strengthening its position

CEO of Grupo Energía Bogotá predicts that Colombia will be an importer of Argentine LNG

Colombia is likely to become a buyer of Argentine liquefied natural gas (LNG) once exports from the Vaca Muerta shale formation begin, potentially from late 2027, as the country faces a growing dependence on imported fuel