South America Archives -

Colombia’s energy balancing act: Production strength, investment uncertainty, and political risk

April 20, 2026

(By Oil & Gas 360) – Colombia’s oil and gas sector is at a turning point. It remains one of Latin America’s more established producers, with meaningful output, functioning infrastructure, and a strong national oil company. At the same time, policy direction, political uncertainty, and declining reserves are reshaping how investors view the country. What used to be a relatively straightforward upstream

Latin America’s energy comeback

April 15, 2026

(By Oil & Gas 360) – Latin America is moving back into focus for oil and gas investors. Not because it’s new, but because it offers something increasingly hard to find: resource depth, near-term production potential, and geographic diversification in a more fragmented global market. From Brazil’s deepwater fields to Guyana’s rapid rise, and from Argentina’s shale to Venezuela’s reopening,

Transocean adds $445 million backlog with Petrobras drillship extension

April 15, 2026

(World Oil) – Transocean has secured a long-term contract extension with Petrobras for its ultra-deepwater drillship Deepwater Corcovado, adding approximately $445 million to the company’s backlog. The 1,156-day extension will begin in direct continuation of the rig’s current work offshore Brazil and is expected to keep the drillship contracted through November 2030. The award reflects continued demand for high-specification ultra-deepwater drilling capacity in Brazil’s

The global supply reset: Global energy tilts west

April 9, 2026

(By Oil & Gas 360) – A quiet shift is underway in global energy, and it is increasingly centered in the Americas. From U.S. shale and LNG exports to Brazil’s offshore growth and Canada’s expanding export reach, the Western Hemisphere is moving from a regional supplier to a global stabilizing force. At a time when traditional supply routes are under pressure

Why pressure toppled Caracas but not Tehran

April 9, 2026

(Oil Price) – Just over a month since President Donald Trump’s decision to go to war with Iran, taken in the shadow of his military intervention in Venezuela, the contrast between the two is hard to ignore. One intervention is drifting into uncertainty, while the other is settling into something easily described as a success. As the world’s attention remains fixed

Latin America offshore drilling gains appeal as Iran war reshapes markets

April 3, 2026

(World Oil) – A leading supplier of deep-water drilling rigs to Brazil’s national oil company expects the industry to favor oil and gas projects in Latin America, where geopolitical risk is lower than the Middle East. Constellation Oil Services Holding SA recently extended three offshore drilling contracts with Petrobras and is optimistic about Brazil’s exploration prospects in other deep-water regions, including

Exclusive-Venezuela’s Rodriguez readies Citgo board takeover, sources say

April 1, 2026

(Investing) – HOUSTON/CARACAS – Venezuelan interim President Delcy Rodriguez’s administration is getting ready to take over the boards of state oil firm PDVSA’s U.S. subsidiaries, including Citgo Petroleum, four sources close to the preparations said. The move could aggravate a tug of war for the control of the seventh-largest U.S. refiner. Washington in March recognized Rodriguez as Venezuela’s leader following the

Parex makes $500 million bid for Frontera’s Colombia upstream assets

March 6, 2026

(World Oil) – Frontera Energy said it has received a binding offer from Parex Resources to acquire the company’s upstream oil and gas assets in Colombia, determining that the proposal constitutes a “superior proposal” to its previously announced agreement to sell the same assets to GeoPark. Under the Parex offer, the company would acquire Frontera’s Colombian exploration and production business for $500 million in cash at closing,

Argentina expands incentives to spur Vaca Muerta shale oil investment

March 3, 2026

(World Oil) – President Javier Milei’s marquee program for luring investment into Argentina is poised to attract a new round of applications from crude producers after his administration broadened it to include shale oil wells. YPF SA, Vista Energy SAB, and Pampa Energia SA said on recent earnings calls that they were all eyeing the program. Known by its Spanish acronym

Venezuela cancels Halliburton asset sale after U.S. intervention to support oil sector restart

February 27, 2026

(World Oil) – Venezuela canceled an auction of assets seized from Halliburton Co. after the Trump administration intervened to stop the sale, as President Donald Trump seeks to smooth the return of U.S. oil companies to the South American country. U.S. government officials pressed Venezuela’s new leader to cancel the auction after a Halliburton executive met Trump and raised the issue

US seeks forfeiture of oil tanker and 1.8 million barrels of Venezuelan oil

February 27, 2026

(Investing) – WASHINGTON – The United States is seeking the forfeiture of Motor Tanker Skipper, an oil tanker seized by the U.S. in December, and 1.8 million barrels of crude oil cargo supplied by Venezuelan state-run company PDVSA, the Justice Department said on Friday. In its complaint, filed in U.S. District Court for the District of Columbia, the department alleged a scheme

Ecopetrol posts 1.94 Bboe in proved reserves, replaces 121% of production in 2025

February 20, 2026

(World Oil) – Ecopetrol reported proved reserves of 1.94 Bboe at year-end 2025, representing a 2.7% increase from 2024 and marking the company’s highest annual reserve additions in four years. The Colombian national oil company added 300 MMboe of proved reserves during 2025 and achieved a reserves replacement ratio of 121%, driven primarily by enhanced recovery projects and improved operational performance across

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