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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Each $1 Brent move swings Colombia's Ecopetrol net income by $122mn, CEO says, as crude tops $77 on Iran tensions

4 March 2026

Ecopetrol's net profit fluctuates by approximately $122mn (COP500bn) for every $1 change in the annual average Brent crude price — with EBITDA sensitivity reaching $186mn (COP760bn) per dollar — President Ricardo Roa stated

Licences ease pressure for Venezuela, sector recovers slightly

4 March 2026

Venezuela’s oil industry is showing tentative signs of recovery as higher refining rates, revived export routes and renewed interest from foreign companies reshape a sector still constrained by US sanctions and operational bottlenecks

YPF posts best earnings in 10 years for 2025

4 March 2026

YPF reported an adjusted EBITDA of $5bn for 2025, the highest in a decade, driven by record shale oil production in Vaca Muerta despite falling international crude prices.

Argentina's YPF to smooth fuel prices amid oil volatility triggered by Middle East crisis

4 March 2026

Argentina’s state-controlled energy company YPF said it would avoid sharp increases in domestic fuel prices despite a surge in international oil prices driven by escalating conflict in the Middle East and tensions around the Strait of Hormuz.

Middle East conflict and court ruling threaten two key Milei economic reforms

4 March 2026

Two key economic reforms pursued by Argentine President Javier Milei have come under pressure following a surge in global energy prices triggered by the war in the Middle East and a domestic court ruling challenging fuel market deregulation.

African Energy Chamber, Venezuelan petroleum authorities sign MoU to drive energy investment, collaboration

4 March 2026

Venezuela’s leading petroleum authorities have signed a Memorandum of Understanding (MoU) with the African Energy Chamber (AEC), establishing a formal framework for long-term collaboration across the hydrocarbon value chain.

Venezuela oil shipments double in February as output rebounds

4 March 2026

January exports had stood at roughly 383,000 barrels a day, when the Trump administration first took control of the country’s oil sales

Exxon Mobil weighs return to Venezuela with technical visit planned

4 March 2026

The US oil major is exploring avenues for cooperation with the Venezuelan government and could resume operations if what it views as appropriate investment conditions are put in place

Brazil clears Wahoo for production

3 March 2026

The Institute of the Environment and Natural Renewable Resources (Ibama) has issued an operating licence for the Wahoo field offshore Brazil, clearing the final regulatory step before production begins.

Cuba installs 5,000 Chinese-donated solar systems for clinics and isolated homes amid record blackouts

3 March 2026

Cuba's Electric Union (UNE) is deploying 5,000 2-kilowatt photovoltaic systems donated by China to power essential facilities and remote households, with 2,671 units earmarked for polyclinics, maternity wards, traffic lights, bakeries, schools

Petro-Victory starts Brazil gas well

3 March 2026

Petro-Victory Energy Corp. has begun drilling the SJ-12 well at the São João Field in the Barreirinhas Basin, Maranhão state, marking the start of its previously announced commitment under a memorandum of understanding.

Acteon wins Brazil’s Petrobras subsea deal

3 March 2026

Acteon has secured a multi-million-dollar contract to support light workover and abandonment activities on subsea Christmas trees for Petrobras, the company said.

Brazil offshore groups unite in $778mn deal

3 March 2026

OceanPact and CBO have agreed to combine their operations through the merger of CBO’s holding entity into OceanPact, the companies said in a regulatory filing.

Mexico's Pemex cuts debt to 11-year low but posts $2.6bn annual loss as turnaround remains incomplete

3 March 2026

Mexico's state oil company Pemex reduced its financial debt to an 11-year low and cleared nearly $34bn in overdue supplier payments in 2025 following a massive government bailout.

Uruguay greenlights offshore seismic survey as legal challenges fail

3 March 2026

Canadian oil and gas company Sintana Energy said on March 3 that a three-dimensional seismic acquisition campaign has commenced on the AREA OFF-1 block offshore Uruguay, following court rejections of legal challenges mounted by environmentalists.

Iran conflict clouds Brazil rate cut outlook as oil surge lifts Petrobras

3 March 2026

The military conflict in the Middle East sent shockwaves through Brazilian financial markets, lifting shares in Petrobras and other domestic oil producers while stoking fears that surging crude prices could push up inflation and slow rate cuts.

YPF sees 2026 EBITDA rising to around $6bn, plans up to $5.8bn in investment

3 March 2026

Argentina’s state-run energy company YPF expects EBITDA of between $5.8bn and $6.2bn in 2026, up from $5bn reported in 2025, Chief Executive Horacio Marín said.

Navitas signs farm-in deal for 65% stake in North Falklands licence

3 March 2026

Israeli oil and gas exploration firm Navitas Petroleum has signed a definitive farm-in agreement to acquire a 65% working interest in the PL001 North Falklands Basin Licence from JHI Associates Inc.

Brazil’s Petrobras waits as oil jumps

3 March 2026

Brazil’s Petrobras is assessing the impact of the conflict in Iran and will track oil prices over the coming week before deciding on domestic fuel adjustments.

Brazil's oil output jumps 14.6% in January to near 4mn bpd, driven by pre-salt surge

3 March 2026

Brazil's oil production rose 14.6% year on year in January to 3.953mn barrels per day, building on a record-breaking 2025 as output from the country's prolific pre-salt reserves continued to expand, the oil and gas regulator the ANP said.

Washington carves out oil lifeline for Cuba's private sector while tightening grip on Havana

3 March 2026

The Trump administration moved to ease its energy stranglehold on Cuba, authorising US companies to export fuel directly to the island's private sector and permitting applications to resell Venezuelan-origin oil to non-government entities

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