LatAmOil - Latin America Oil & Gas

Venezuela-US trade more than doubles to $9.5bn in first half

Trade between Venezuela and the United States more than doubled in the first half of 2026, reaching $9.529bn as oil flows drove a sharp expansion in bilateral commerce

UNDP sees Venezuela GDP expanding 6.5% in 2026 despite inflation

Venezuela’s economy is on track to expand about 6.5% this year, according to the United Nations Development Programme, as stronger oil output, recovering commerce and increased access to foreign currency support growth despite elevated inflation

Yinson leads Brazil’s Petrobras Albacora bid

Malaysia’s Yinson submitted the lowest bid in Petrobras’ tender for a new floating production, storage and offloading vessel for the Albacora field in Brazil’s Campos Basin, offering $2.3bn.

US fuel imports expose Cuba’s widening energy divide

US fuel shipments to Cuba’s private sector are providing limited relief from an energy shortage while fuelling a costly resale market, as Havana moves to loosen state control over the industry

Castro-style capitalism—Cuba's 176-measure reform package promises change without political reform

Argentina central bank flags Middle East conflict as main future economic risk

Argentina’s central bank has identified the conflict in the Middle East as the country’s “main future risk”, warning that a prolonged war involving Iran could weaken external demand and tighten global financial conditions.

Chevron's Peru exit puts offshore oil ambitions to the test

Eleven months. One letter to Perúpetro. Zero wells drilled. Chevron's Peru bet folded before it ever got its boots wet.

Trinidad and Tobago’s oil output stabilises, but structural decline persists

Trinidad and Tobago’s oil output is showing tentative signs of stabilisation, but production remains far below 2016 levels. Higher output from EOG, Perenco and bpTT offers a modest recovery rather than a decisive reversal.

Venezuela’s energy potential could draw $150bn, former PDVSA board member says

Toro Hardy said the easing of US sanctions is aimed at encouraging higher Venezuelan production and strengthening energy security as instability in other producing regions persists

Venezuela oil revenue fund faces scrutiny over lack of transparency, NGO says

Venezuela’s oil revenues are being channelled through a US-controlled fund with limited public disclosure over how much money it holds or how much has been transferred to the government in Caracas, according to Transparency Venezuela

US Treasury officials meet Venezuela’s Rodríguez as power outages threaten oil revival

US Treasury officials met with Venezuela’s interim President Delcy Rodríguez in Caracas as persistent electricity shortages complicate Washington’s push to revive the country’s oil industry

Edenor agrees $780mn deal to acquire YPF’s controlling stake in MetroGAS

Edenor has agreed to acquire YPF’s controlling stake in MetroGAS for $780mn, a transaction that will give the electricity distributor control of Argentina’s largest gas distribution company and complete YPF’s exit from the business.

Brazil’s Petrobras sees oil output beating 2026 forecast

Petrobras is likely to exceed its 2026 oil production forecast, Chief Executive Magda Chambriard said, after output in the second quarter surpassed the company’s target by 200,000 barrels per day.

Eni takes stake in Uruguay offshore block as exploration push expands

Eni is expanding its exploration presence in Uruguay through a partnership with APA Corporation, taking a stake in an offshore block as the country draws growing interest from international oil and gas companies

US disposes of two Venezuela-linked tankers in India scrap deal

Two oil tankers taken into US custody after Washington’s operation in Venezuela have been sold to a ship recycler and are headed for demolition in India, according to Lloyd’s List

Colombia’s De La Espriella signals oil and gas revival, keeps energy transition

Colombia’s new president, Abelardo de la Espriella, signalled a major shift in energy policy, pledging to revive oil and gas production, rebuild state-controlled Ecopetrol and strengthen the electricity system while maintaining a transition

Colombia’s oil, mining sectors seek faster investment approvals under new government

Colombia’s oil and mining industries are preparing billions of dollars in potential investment after years of weaker exploration, but companies are urging President-elect Abelardo de la Espriella’s incoming administration to move quickly

GeoPark targets Vaca Muerta growth as Colombia costs rise

GeoPark reported second-quarter revenue of $143.3mn, up 12% from the previous quarter, as stable Colombian production and faster development in Argentina supported its Latin American oil-and-gas portfolio

Belgian Exmar advances Colombia LNG import project with converted FSU

Belgian shipowner Exmar is advancing the conversion of an LNG carrier into a floating storage unit for a gas-import project in Colombia, with operations expected to begin in the third quarter of 2026

Fifteen companies vie for Argentine blocks in bidding war

Neuquén province's first unconventional bidding round in six years has attracted at least 15 companies, both North American majors and local independents.

TechnipFMC drilling equipment departs for Suriname's landmark GranMorgu project

TechnipFMC has advanced critical infrastructure milestones on Suriname's inaugural offshore oil development, delivering subsea equipment and installing floating production vessel connection components.

Vessel for Southern Energy's Argentine LNG project enters final preparations

The Hilli Episeyo, a floating liquefaction unit destined for Southern Energy's LNG project, departed Cameroon for Singapore refurbishment ahead of deployment off Río Negro's coast by mid-2027.

Peru oil output remains structurally weak despite July uptick

Peru’s crude output edged higher in July but remained 23% below last year’s level. Production is concentrated in a handful of blocks, while weak exploration threatens to deepen the country’s reliance on imported hydrocarbons.

PetroTal keeps Peru output ahead of plan as drilling restart nears

PetroTal is keeping Peru oil output ahead of budget, with first-half production 3% above plan. But sustaining growth will depend on well maintenance and the planned October restart of development drilling at Bretana.

Petroperú brings back Oliver Stark as financial crisis tests new board

Petroperú returns Oliver Stark to the chair as the state oil company faces persistent liquidity, governance and operational pressures despite a return to profit in the first half of 2026.