LatAmOil - Latin America Oil & Gas

ExxonMobil eyes ultra-deepwater Guyana discoveries near 3,000 metres as easy fields give way

Brazil, Guyana, Argentina seek upstream capital as global investment tightens

Brazil, Guyana and Argentina made their case to international oil investors at last week's Offshore Technology Conference (OTC) in Houston, pointing to Middle East instability as a reason to redirect upstream spending toward their countries.

Fire at Mexico’s Pemex's Salina Cruz refinery injures six during cooling tower works

Brazil’s Petrobras posts record quarterly output of 3.23mn bpd in Q1

State-owned Petrobras posted its highest average quarterly production during Q1 at of 3.23mn barrels of oil equivalent per day, up by 16.1% year on year.

Guyana's oil could prompt wider investment in northern Brazil, Caribbean

Guyana’s transformation from frontier explorer to global heavyweight is accelerating into a broader geopolitical and industrial story. The small country is no longer being pitched merely as an offshore success, but as a wider regional accelerator.

Peru's $2bn Petroperú lifeline raises questions of sovereign exposure

Peru hands Petroperú a $2bn credit line — and calls it something other than a bail-out. The financial engineering is sophisticated. The sovereign risk is not.

YPF posts spike in net profit in Q1 of 2026

Argentine national oil company YPF reported a $409mn net profit for the first quarter of 2026, reversing a $10mn loss from the same period last year.

Colombia's Ecopetrol chief charged over alleged breaches in Petro campaign spending

Colombian prosecutors charged Ecopetrol president Ricardo Roa on May 12 over alleged irregularities in the financing reports of President Gustavo Petro’s 2022 election campaign

Brazil’s Petrobras first-quarter profit falls 7.2% but beats expectations as production surges

Brazil’s state-owned oil company Petrobras posted a 7.2% drop in net profit for the first quarter of 2026 compared to a year earlier, as real appreciation weighed on costs and the full benefit of surging oil prices had yet to flow through to revenues

Brazil's oil exports to China more than double as Hormuz closure reshapes crude flows

Brazil more than doubled its oil export volumes to China in the first quarter of 2026 as the closure of the Strait of Hormuz forced Asian refiners to seek alternative supplies, cementing Brazil's emergence as a critical swing supplier to China.

Brazil gas supply jumps 12% in 2025 as domestic output offsets weaker hydropower

Brazil's primary natural gas supply rose 12% in 2025, driven by higher domestic production and reduced hydropower generation, the International Energy Agency (IEA) said in its Global Energy Review 2026.

Repsol receives first Venezuelan crude shipment under gas supply agreement

The arrangement is intended to secure the long-term sustainability of gas production at Cardón IV, the offshore project jointly operated by Repsol and Italy’s Eni

Ex-PDVSA chief El Aissami testifies in secretive Venezuelan corruption trial

Proceedings, which began on April 20 nearly two years after El Aissami’s arrest, are being held behind closed doors with no access granted to the press

Venezuela’s oil transparency push faces doubts as questions persist over PDVSA funds

Efforts by Venezuela’s new leadership to present a more transparent oil sector are drawing scrutiny as limited disclosures and allegations of past corruption continue to cloud the management of the country’s main source of revenue

Shell advances talks to export Venezuelan gas through Trinidad LNG hub

The discussions include development of the Dragón field, alongside possible advances in the Carito and Pirital fields in Monagas state and the cross-border Loran project shared between Venezuela and Trinidad and Tobago

George E. Warren enters Venezuelan oil market after US eases restrictions

The Florida-based company is set to export the Venezuelan crude shipment this month, marking its first acquisition since the United States relaxed restrictions in February

Trinidad oil spill adds to tensions with Venezuela

Authorities in Port of Spain said the dispersants “effectively broke up the oil” and that inspections carried out with drones and vessels found no visible hydrocarbons remaining on the surface of the water

Pampa Energía posts higher first-quarter operating earnings, expands Vaca Muerta investments

Argentina’s Pampa Energía reported a 48% rise in operating earnings in the first quarter of 2026 and said it was advancing major investments in the Vaca Muerta shale formation.

Vista raises Vaca Muerta investment plan and brings forward output targets

Vista Energy has accelerated its production targets in Argentina’s Vaca Muerta and raised planned investment to $1.8bn for 2026 after acquiring assets from Equinor.

Colombia plans gas market overhaul as imports rise and prices surge

Colombia’s government is preparing new rules to intervene in the natural gas market, seeking to curb price speculation and strengthen supply security as rising imports and tighter domestic output push up energy costs

Continental Resources formally enters Argentina’s Vaca Muerta through Río Negro shale block

Continental Resources has formally entered Argentina’s Vaca Muerta shale development after the provincial government of Río Negro approved the transfer of a 13% stake in the Loma Guadalosa block from Pan American Energy.

Ecuador fuel shortages deepen as refinery disruption fuels price concerns

Motorists across Ecuador are facing growing fuel shortages as supply disruptions linked to refinery problems and rising import dependence coincide with an expected increase in domestic fuel prices.

CNOOC views Guyana as key asset for company growth

CNOOC Vice President Keith Henderson stated that Guyana's offshore oil developments now rank among the Chinese energy company's top-performing assets globally.

Chevron and ExxonMobil tension as US balances Guyana, Venezuela support

Guyanese President Mohamed Irfaan Ali addressed a strategic paradox facing his country whereby the United States attempts to promote Guyanese oil interests through ExxonMobil and Venezuelan ambitions through Chevron.

ExxonMobil credits Guyana partnership model for avoiding local content pitfalls