LatAmOil - Latin America Oil & Gas

US sanctions on Lukoil hit production at Carlos Slim's Gulf of Mexico oil fields

Guyana crude production averages 914,000 bpd in Q1 of 2026

Guyana's crude production averaged 914,000 barrels per day across the first quarter of 2026, according to official government data.

Bolivia mulls tax overhaul to revive gas sector, lure foreign investment

Bolivia is preparing a sweeping reform of its hydrocarbons framework, seeking to reverse a prolonged decline in production by offering clearer rules and competitive taxation to international energy firms.

Petrobras expands Brazil offshore stake

Petrobras has agreed to acquire a 100% interest in part of the Argonauta field from Shell and partners in the Parque das Conchas cluster offshore Brazil, the company said, in a deal valued at about $290mn.

Camuzzi and Vitol sign MoU for LNG project at La Plata port

Argentina’s Camuzzi Gas Inversora has signed a memorandum of understanding with commodities trader Vitol to advance the LNG del Plata project, a liquefied natural gas facility planned at the Port of La Plata.

Argentina announces $14.4bn in energy and petrochemical investments under RIGI

Argentina’s government on April 24 unveiled two new investment projects in the energy and petrochemical sectors worth a combined $14.4bn, as part of its incentive scheme aimed at attracting large-scale capital into strategic industries.

Colombia, Spain extend energy transition pact as financing, policy coordination in focus

Colombia and Spain agreed to prolong a bilateral co-operation framework on energy transition for a further three years, signing the extension in Santa Marta on April 27 during an international conference on moving beyond fossil fuels

UAE withdraws from OPEC following years of frustration

The UAE will officially leave the OPEC alliance in May, driven by mounting frustrations over production quotas that constrained its expanded capacity.

Brazil output lifts Galp profit

Portugal’s Galp Energia reported a 41% rise in first-quarter adjusted core profit, exceeding expectations, supported by higher production in Brazil and stronger crude prices.

Brazil diesel shipments diverted mid-voyage

At least two vessels carrying Russian diesel to Brazil have reversed direction in the Atlantic and are now sailing towards the Suez Canal, indicating sellers may be seeking higher-priced spot sales elsewhere.

Financing gap slows global shift from fossil fuels at Colombia summit

A lack of affordable financing is emerging as a central obstacle to phasing out fossil fuels, delegates said at a global conference in Santa Marta, Colombia, as governments face mounting pressure to turn climate pledges into actionable policies

Cuba’s farm sector strained as fuel shortages deepen under US pressure

Cuba’s agricultural sector is facing mounting disruption as fuel shortages linked to tightened US measures curb production and distribution, leaving farmers struggling to supply food to a population of nearly 10mn people

Venezuela’s hydrocarbons reform seen as first step, with key gaps still to fill

Venezuela’s newly approved Hydrocarbons Law is being viewed by analysts as an initial move toward creating a more appealing framework for investors

Chevron sees progress in Venezuela oil reforms but warns more needed

Mike Wirth said the shift “moves things in a positive direction,” but added it is “probably not enough to bring in the level of investment that would be desirable”

GeoPark output falls QoQ on divestments despite gains in Colombia, Argentina

GeoPark reported average production of 27,249 barrels of oil equivalent per day (boed) in the first quarter of 2026, down from 28,351 boed in the previous quarter

Colombia's Ecopetrol flags Q1 profit of up to $845mn on steady output, revenues

Colombia’s state-controlled oil company Ecopetrol expects first-quarter net profit to reach between $563.1mn and $844.7mn (COP2 trillion–COP3 trillion), supported by stable production and revenues, the company stated

Venezuela moves to streamline oil permits

The initiative follows a meeting between Ecosocialism Minister Alfred Nazaret Ñáñez and Hydrocarbons Minister Paula Henao, where both sides agreed to coordinate efforts to manage environmental liabilities linked to hydrocarbon production

Venezuela debt outlook supported by oil gains as risks persist, Oxford Economics says

Emerging-market debt tied to oil exporters such as Venezuela is proving resilient amid turmoil in the Middle East, buoyed by stronger crude prices and a firmer US dollar, according to Oxford Economics

Amber Energy pledges $11bn Citgo investment pending US approval

Amber Energy has outlined plans to invest as much as $11bn in Citgo Petroleum, contingent on securing US authorisation to take control of the refiner, as the future of one of Venezuela’s most valuable overseas assets hangs in the balance

Repsol, Eni plan gradual gas output increase in Venezuela

Spain’s Repsol and Italy’s Eni are advancing plans to raise natural gas production at Venezuela’s Cardon IV field to 18.27mn cubic metres per day from about 580mn, as part of a broader push to expand the country’s energy output

Venezuela courts Barbados investment to bolster energy output

Venezuela’s acting president, Delcy Rodríguez, has invited Barbados to invest in the South American nation’s oil and gas sector, as part of a push to deepen regional energy integration and raise hydrocarbon production

Argentina secures LNG cargo from Naturgy to reinforce winter gas supply

Argentina has awarded a LNG cargo to Spain’s Naturgy Aprovisionamientos to replenish supplies at its Escobar floating storage and regasification unit (FSRU), as authorities prepare for higher energy demand during colder months

Venezuela oil services firms reactivate idle rigs amid contract overhaul

Oilfield service providers are beginning to mobilise long-idled drilling equipment in Venezuela as a sweeping review of oil and gas contracts fuels expectations of renewed upstream activity following January’s reform of the hydrocarbons law

Argentina authorises multiple firms to export natural gas to Brazil

Argentina has authorised six energy companies to export up to 12.25mn cubic metres per day (Mm³/d) of natural gas to Brazil, highlighting growing regional integration in the energy market and the country’s expanding export capacity.

Bolivia reshuffles YPFB leadership as fuel crisis deepens and imports strain economy

Bolivia’s government has installed a new interim head at state oil firm YPFB, marking the third leadership change in just five months as mounting fuel shortages and quality concerns expose structural weaknesses in the energy sector.