A pipeline rupture near Peru’s Camisea gas field forced Pluspetrol to suspend LPG production, cutting supply from a facility that provides roughly 70% of the country’s domestic demand.
Venezuela’s oil exports fell 6.5% in February to around 737,000 bpd as shipments to China plunged sharply, despite increased flows to the U.S. and Europe.
Eni can now receive Venezuelan crude as payment for gas from the Perla offshore field following eased U.S. sanctions, potentially accelerating recovery of nearly $3 billion in outstanding debt.
CH4 Systems has formed a strategic alliance with Venezuelan partners to create a compliant pathway for U.S. energy companies to restore oil and gas infrastructure, aligning with new U.S. governance and sanctions guidelines.
Oil companies are positioning for rapid production gains in Venezuela following eased U.S. sanctions, but aging pipelines, export terminals, upgraders and blending infrastructure could slow efforts to quickly lift output.
Trinidad and Tobago’s energy minister expressed optimism that two key offshore gas projects with Venezuela — backed by Shell, BP and the National Gas Company — may resume after political shifts in Caracas, offering potential supply relief for LNG and petrochemical sectors.
Valero is preparing to import up to 6.5 million barrels of Venezuelan crude in March, signaling a significant shift in Gulf Coast heavy crude supply as U.S. authorizations expand.
Venezuela’s PDVSA has restricted crude sales to companies holding individual U.S. licenses, complicating exports and leaving broader sanctions relief slower to translate into new trade flows as banks and buyers seek clearer guidance.
Atlantic LNG has shut its 3 MMtpy Train 3 unit in Trinidad for emergency repairs following a discovered defect, potentially removing a significant share of the island’s LNG output as markets monitor supply impacts.
YPF, Eni and XRG have signed a Joint Development Agreement to advance the 12-MMtpy Argentina LNG project, launching FEED work as partners target FID in the second half of 2026.
Chile is set to receive its first Australian LNG cargoes in more than three years as tighter Atlantic Basin supply and shifting trade flows open temporary arbitrage opportunities across global LNG markets.
Cosan’s Edge has begun supplying LNG to customers outside Brazil’s pipeline network under an eight-year deal, signaling growing momentum for off-grid gas infrastructure in underserved regions.
Venezuela’s oil output could climb back above 1 million bpd by mid-2026 as U.S. license expansions allow more crude exports and ease sanctions pressure, according to the EIA.
Trinidad and Tobago’s Atlantic LNG will take its 6-MMtpy Train 4 offline for up to 50 days this spring for major maintenance, a move expected to reduce cargo availability while other trains remain in operation.
Argentina’s energy surplus is projected to reach a new high in 2026 as new pipelines and export capacity unlock more oil and gas flows from the Vaca Muerta, reshaping the country’s trade balance and export outlook.
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