LatAmOil - Latin America Oil & Gas

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Oil & Gas

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

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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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Cuba oil lifeline hinges on Mexican firms willing to brave US sanctions

24 June 2026

Cuba’s oil lifeline hangs by a thread. As Mexico attempts a risky private-sector workaround to bypass tightened US secondary sanctions, mid-sized firms face an overnight death sentence if they lose access to dollar clearing.

The debate over EU methane regulation and energy security

24 June 2026

The EU’s methane regulation has split analysts, with Rystad saying it will not harm supply and Wood Mackenzie warning it could make large volumes of imports non-compliant.

Mexico's fuel sector faces dual pressure from price caps and supply chain strain

24 June 2026

Mexico's petrol industry faces a compound squeeze: voluntary diesel price caps worth MXN27/L, gross margins of just MXN1.50/L before costs, and 60% of operators reporting rising fuel theft. Only 32% of stations grew sales in May.

Venezuelan crude gains ground in India as imports recover from supply disruptions

24 June 2026

India’s crude oil imports have returned to more stable levels in June, supported by record purchases from Russia and additional supplies from countries including Venezuela, Angola, Brazil and Iran

Venezuela’s first-quarter oil revenue climbs as exports accelerate

24 June 2026

Venezuela generated $5.49bn in oil export revenue during the first quarter, a 21% increase from the same period a year earlier, according to balance of payments data released on June 22 by the Central Bank of Venezuela

Venezuela bets on gas revival despite persistent energy shortages

24 June 2026

Venezuela is seeking to revive its long-underdeveloped natural gas industry through new agreements with Shell, Eni and Repsol, even as the country continues to grapple with power cuts, electricity rationing and shortages of domestic cooking gas

Debt restructuring uncertainty sends Venezuelan bonds to two-month low

24 June 2026

Bonds due in 2027 dropped below 50 cents on the dollar for the first time since April 10, while debt issued by state oil company Petróleos de Venezuela SA also declined

Venezuela’s oil revival hinges on political stability, economists say

24 June 2026

According to experts, Venezuela’s efforts to attract foreign capital into its energy industry will struggle to gain traction unless investors see lasting political stability and stronger institutions

Colombia's De la Espriella win puts Ecopetrol governance shake-up on hold

23 June 2026

Colombia’s presidential election result has halted plans for governance changes at Ecopetrol and increased the likelihood of a review of the state-controlled energy group under incoming President Abelardo de la Espriella

Colombia slips in WEF energy transition ranking despite clean power matrix

23 June 2026

Colombia fell five places to 43rd in the World Economic Forum’s 2026 Energy Transition Index (ETI), highlighting growing concerns over the pace of the country’s energy transition despite maintaining one of the world’s cleanest electricity

Colombia's Ecopetrol jumps in US premarket after De la Espriella election victory

23 June 2026

Colombia's Ecopetrol surged in US premarket trading after president-elect Abelardo de la Espriella secured victory in the country's presidential runoff, with investors betting on a more favourable environment for the oil and gas sector

Colombia's Promigas draws record demand with $920mn hybrid bond sale

23 June 2026

Promigas secured $920mn in a 30-year international hybrid bond offering after attracting orders worth $2.61bn, marking the strongest demand recorded for this type of instrument by a Colombian issuer

Brazil’s Petrobras, Mexico’s Pemex sign deal with eyes on Gulf of Mexico pre-salt frontier

23 June 2026

Brazil's state-owned oil company Petrobras and its Mexican peer Pemex signed a memorandum of understanding (MoU) on Tuesday for strategic and technical cooperation across exploration, production, petrochemicals and fertilisers, among others.

Argentina posts record energy trade surplus in May on oil export surge

23 June 2026

Argentina recorded a new monthly record in its energy trade balance in May, posting a surplus of $1.39bn driven by a sharp increase in crude exports and a steep decline in fuel imports.

Guyana's oil and gas future to be sealed as Venezuela ICJ case enters final phase

23 June 2026

The International Court of Justice is poised to enter final oral hearings in the Guyana-Venezuela border dispute following completion of written pleadings, a milestone that could determine the trajectory of Guyana's oil and gas sector future.

Ecuador mayor linked to $5mn ghost contract at Petroecuador refinery, prosecutors allege

23 June 2026

Ecuador's attorney general's office has alleged that Esmeraldas mayor Vicko Villacís Tenorio benefited from a phantom contract worth over $5.3mn paid by state oil company Petroecuador to a consortium linked to his family.

Petroecuador sells 2.88mn barrels to China for $313mn in July-August deliveries

23 June 2026

Petroecuador has awarded two international crude oil sales totalling 2.88mn barrels, generating estimated state revenue of over $313mn, with deliveries scheduled between July and August.

Steel pipes arrive for VMOS offshore pipeline as Argentina advances Vaca Muerta export infrastructure

23 June 2026

Argentina’s Vaca Muerta Oil Sur (VMOS) project reached a new construction milestone this week as 721 steel pipes destined for its offshore pipeline system arrived and began being stored at the Port of San Antonio Este in Río Negro province.

ExxonMobil narrows Stabroek focus to appraisal and gas as exploration window tightens

23 June 2026

ExxonMobil's H1 2026 Stabroek campaign targets appraisal at Barreleye-3, gas evaluation at Goatfish-1 near Suriname, and fresh oil at Goby-1 — but no new discoveries confirmed beyond the 11bn boe baseline.

Guyana opts for industry cooperation over legislation to speed oil supplier payments

23 June 2026

Guyana's natural resources minister urges oil majors to cut supplier payment cycles voluntarily, warning that 90-120-day windows choke local firms — but stops short of legislating a fix.

Pánuco spill deepens PEMEX accountability crisis as navy suppresses footage and Congress demands testimony

23 June 2026

PEMEX's Pánuco spill enters day eleven with two active discharge points confirmed, Congress demanding the director testify, and the Navy caught suppressing footage of a river that fishing families say never truly clears.

Mexico's Sheinbaum says she will skip Pemex-Petrobras agreement signing

23 June 2026

Mexican President Claudia Sheinbaum said on June 19 she would not travel with the delegation from Petróleos Mexicanos (Pemex) set to formalise a legal collaboration agreement with Petróleo Brasileiro SA (Petrobras) this week.

Venezuelan oil exports nearly double as US remains top buyer

23 June 2026

Venezuela’s seaborne crude exports have surged this year, with shipments rising 144% between January and mid-June as demand from the United States, India and the Bahamas helped drive a sustained recovery in the country’s oil trade

Oil revenue windfall raises transparency questions in Venezuela

23 June 2026

Venezuela is on track to receive an estimated $35bn in oil export revenue this year, a sharp increase from 2025, but questions are mounting over how those funds are being managed and why the influx has yet to translate into broader economic relief

US eases Iran oil sanctions, price on Brent crude drops over 3.5%

23 June 2026

The United States has partially lifted sanctions on Iranian oil exports following what officials have described as encouraging progress in negotiations aimed at ending hostilities between Washington and Tehran.

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