The Latin American and Caribbean Energy Organization (OLACDE) has launched its new monthly Oil and Gas Report, a publication designed to track developments in production and foreign trade across the sector in Latin America and the Caribbean.
According to the analysis for January 2026, oil production reached 361 million barrels, representing an 11% increase compared to the same month of the previous year. Brazil, Mexico, and Venezuela accounted for 70% of total regional crude production, while natural gas production rose by 27%, reaching 28 billion cubic meters.
Regarding natural gas, Argentina positioned itself as the regional leader with a 21% share, mainly driven by the development of Vaca Muerta. It was followed by Trinidad and Tobago with 20%, consolidating its role as one of the region’s leading producers and exporters of natural gas and LNG, and Brazil with 13%. This scenario has been characterized by the expansion of shale gas and offshore operations.
A second group includes Peru with an 11% share, Venezuela with 10%, and Bolivia with 9%, countries that continue to play a significant role in the regional natural gas supply. Colombia contributed 5% of regional production, while Ecuador accounted for approximately 1% of the total.
The report also highlights growing regional energy interconnection. During January, 56% of oil imports and 59% of natural gas acquisitions originated from intraregional markets, reflecting increasing interdependence and a significant strengthening of trade flows within the region.
In this context, OLACDE, in collaboration with CAF, is advancing the Mercosur + Chile Regional Gas Integration Project, an initiative aimed at accelerating regulatory harmonization, maximizing the use of existing infrastructure, and strengthening energy security through an integrated regional natural gas market.
The project includes technical, regulatory, financial, and infrastructure studies aimed at expanding regional interconnection, facilitating new supply corridors, and reinforcing South America’s energy resilience against volatility in international markets.
With this new monthly publication, OLACDE will strengthen the technical and statistical monitoring of the regional hydrocarbon sector, providing strategic information for governments, companies, multilateral organizations, and stakeholders across the energy market.
