U.S. President Donald Trump is promising incentives and compensation to oil companies that invest in Venezuela, but the industry remains hesitant due to a “lack of clarity” around support, political uncertainty, and the deterioration of Venezuela’s infrastructure

U.S. oil producer Continental Resources has signed an agreement with Pan American Energy (PAE) to develop four areas in the Vaca Muerta region jointly

BP announced Meg O’Neill as its new chief executive, effective April 1, 2026, following the departure of Murray Auchincloss from the role, with Carol Howle serving as interim chief executive

YPF announced that it has reached a production milestone of 200,000 barrels per day of oil in Vaca Muerta. This shale oil production level represents 82% growth in just over two years

The Argentine oil company stated that its subsidiary Pluspetrol Cuenca Neuquina signed an agreement with Continental Resources to transfer its 90% stake in the Los Toldos II Oeste block

According to the company’s 2026–2028 strategic plan, the projected investments aim to increase Vaca Muerta production by 60%, reaching 180,000 boe/d in 2028

The transfer is part of Project Andes, under which YPF seeks to divest mature assets to focus on Vaca Muerta. The areas involved are Los Chorrillos, Lago Fuego, and Tierra del Fuego Fracción A, B, C, D, and E

“This is the fifth-deepest well Petrobras has ever drilled, and it is a pioneer well in an unexplored area. That requires great care,” said Sylvia Anjos, Petrobras’ Exploration and Production director, at a press conference

The company’s CFO, Fernando Melgarejo, attributed the profit to an increase in crude output, which helped offset the decline in international prices

British oil company BP announced a net profit of USD 3.477 billion in the first nine months of 2025, 48.6% higher than in the same period a year earlier, thanks in part to improved performance at its production facilities