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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Guyana open to entering CARICOM oil deal
Guyana has signalled openness to exploring crude oil sales arrangements with Caribbean Community (CARICOM) member states, potentially including discounted barrel deals linked to cheaper refined fuel supplies.
Brazil faces diesel supply threat as Trump targets Russian imports
Brazil's heavy reliance on Russian diesel imports has placed the country at risk of US secondary sanctions, potentially driving up fuel prices as more than half of Brazil's diesel supply comes from Russia.
Brazil’s Petrobras swings to $4.89bn Q2 profit while tightening costs amid oil price decline
Brazil’s Petrobras reported second-quarter net profit of BRL26.7b ($4.89bn), reversing a BRL2.6bn loss from the prior year, while implementing cost controls to maintain its $18.5bn annual investment plan despite falling crude prices.
ExxonMobil Guyana begins Yellowtail production
ExxonMobil has commenced production at Yellowtail, its fourth offshore development in Guyana's Stabroek Block, marking another significant milestone in the South American nation's rapid oil industry expansion.
Colombian hydrocarbon output contracts as production pressures mount
Colombia's hydrocarbon sector faced renewed headwinds in June as both oil and natural gas output contracted year-on-year, according to data released by the National Hydrocarbons Agency.
Several foreign energy giants abandon Colombia amid regulatory squeeze
Colombia's offshore energy sector faces an exodus of international petroleum companies following disappointing exploration results and tightened regulatory frameworks.
Brazil’s Petrobras challenges Braskem over US asset talks
Venezuela's PDVSA crude flows to Cuba surge despite overall export decline
Venezuela's state petroleum company PDVSA increased crude deliveries to Cuba by 31,000 barrels per day during July, despite experiencing a 10% decline in total exports.
Brazil’s Petrobras swings to $4.7bn profit
Brazilian oil producer Petrobras reported a second-quarter net profit of $4.7bn, reversing a $469mn loss in the same period of 2024, the company said.
Argentina's Vaca Muerta faces drilling slowdown as prices decline
Argentina's Vaca Muerta shale formation faces a near-term drilling slowdown as companies pull back crews amid declining oil prices and recent merger activity, despite strong production growth in the world's second-largest shale gas deposit.
Mexico embraces fracking to reverse Pemex production decline
Mexico has authorised the expanded use of hydraulic fracturing to tap unconventional hydrocarbon reserves and arrest years of declining output, marking a significant policy reversal from the previous administration's environmental stance
Chevron tankers head to Venezuela as oil shipments close to resuming
At least three Chevron-chartered tankers are en route to Venezuelan waters to load crude for US refineries later this month, following a fresh US Treasury licence allowing the company to resume limited operations in the sanctioned country
Fresh bid complicates Venezuela’s Citgo sale as creditors battle for control
Court-appointed special master Robert Pincus informed Judge Leonard Stark of the offer but disclosed neither the bidder’s identity nor the submission date
Brazil’s Braskem says US tariffs will not bite
The 50% tariff on Brazilian goods announced by US President Donald Trump will not materially affect Braskem. The petrochemical producer’s basic chemicals and polymers are not covered by the measure.
ExxonMobil, Chevron beat profit expectations, see output rise
US-based supermajors ExxonMobil and Chevron both reported lower earnings for the second quarter of 2025 but nonetheless beat analyst expectations.
Colombia's Ecopetrol reports record quarterly output as production surges
Colombian state energy giant Ecopetrol achieved its strongest quarterly production performance in ten years during the second quarter of 2025.
Canada's Frontera divests from Ecuadorian oil blocks
Canadian energy company Frontera Energy has agreed to divest its 50% working interest in Ecuador's Perico and Espejo blocks for CAD 10.74mn ($7.8mn) cash, with potential additional payments of $750,000 contingent on production milestones.
TotalEnergies to sell Argentine shale assets to YPF
TotalEnergies announced that it has agreed to sell its 45% stake in two unconventional oil and gas blocks in Argentina's Vaca Muerta shale formation to Argentina's national oil company YPF for $500mn.
Mexico unveils comprehensive Pemex rescue plan targeting 2027 self-sufficiency
The Mexican government has announced a sweeping rescue programme for heavily indebted state oil producer Pemex, aiming to achieve financial self-sufficiency by 2027 and reduce debt from $99bn to $77.3bn by 2030, AFP and Reuters reported.
IMF ups growth forecasts for Latin America, Caribbean
The International Monetary Fund (IMF) has marginally revised its economic growth forecasts for Latin America and the Caribbean for 2025, reflecting a slightly more optimistic scenario.
Brazilian deepwater yields BP's biggest oil and gas discovery this century
BP has unveiled its most significant oil and gas discovery in 25 years following successful drilling at the Bumerangue prospect in Brazil's deepwater Santos Basin.
Oil firms’ return is lifeline for Venezuela, but Maduro downplays importance
Oxford Economics says the re-entry of Chevron and other international oil companies into Venezuela could stabilise crude output and ease currency pressures.
Six FPSOs cleared for Brazil ops
Axess Group has signed agreements with Seatrium to provide Brazilian Regulatory Compliance (BRC) services for six floating production, storage and offloading (FPSO) units to be deployed offshore Brazil for Petrobras.
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