
Venezuela's government has concluded a series of agreements with international oil companies in recent weeks to develop its offshore gas fields, marking a shift from the years of isolation and sanctions that have defined the sector.

Argentina's Large Investment Incentive Regime (RIGI), created in 2024, consolidated a strongly extractive profile and did not stimulate new sectors, according to a report released on Wednesday by the RIGI Observatory, a coalition of civil society organisations and academic centres that examines the scheme from a critical standpoint.

Brazil's state-controlled Petrobras confirmed on Monday the presence of oil in the Morpho exploratory well, located in ultra-deep waters off the northern state of Amapá, in the Foz do Amazonas basin. The company cautioned that it cannot yet estimate the volume found or the viability of commercial production.

Argentina's majority state-owned oil company YPF confirmed on Thursday that it has filed an application for the Argentina LNG project to join the Large Investment Incentive Regime (RIGI). The venture, developed alongside Italy's Eni and the Emirati company XRG, contemplates an estimated outlay of 51 billion dollars over its full life, the largest figure submitted so far under the scheme.

Argentine oil company YPF, 51% state-controlled, has accepted Edenor's offer to buy its stake in Metrogas and Metroenergía for 780 million dollars, according to a filing submitted on Monday to the securities regulator. The deal takes the company out of the natural gas distribution business.

The Consumer Price Index (CPI), according to official Falkland Islands figures, recorded a quarterly increase of 3.4% as a result of the impact of higher fuel prices.

Navitas Petroleum has signed agreements to obtain a 33.33% interest in the Tiberius and Logan oil discoveries in the Gulf of America (Gulf of Mexico) from Occidental and Kosmos Energy, expanding its Gulf of America hydrocarbon portfolio.

More than £8bn is being pumped into the Royal Navy’s next-generation nuclear deterrent submarines in the latest investment in the Dreadnought program. The cash – the fourth phase of production of the biggest submarine construction project in a generation – will carry the program through to key milestones early next decade:

Six million of British households are set to save £150 on energy bills this winter, as government urges eligible households to check they are named on their bill to get the Warm Home Discount automatically. Every household where the bill payer is on means-tested benefits is in line for the rebate, following the expansion of the scheme last year.

Argentine power generator YPF Luz has filed a preliminary prospectus with the US Securities and Exchange Commission (SEC) for a potential initial public offering of shares, which would list simultaneously on the New York Stock Exchange and on Bolsas y Mercados Argentinos (BYMA) in Buenos Aires.