QUITO, Ecuador, May 25, CMC – The Latin American and Caribbean Energy Organization (OLACDE) Monday announced the launch of 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 (LAC).
According to the analysis for January 2026, oil production reached 361 million barrels, representing an 11 per cent increase compared to the same month of the previous year. Brazil, Mexico, and Venezuela accounted for 70 per cent of total regional crude production, while natural gas production rose by 27 per cent, reaching 28 billion cubic meters.
Regarding natural gas, Argentina positioned itself as the regional leader with a 21 per cent share, mainly driven by the development of Vaca Muerta, followed by Trinidad and Tobago with 20 per cent, consolidating its role as one of the region’s leading producers and exporters of natural gas and LNG.
OLACDE said that this scenario has been characterized by the expansion of shale gas and offshore operations and that a second group includes Peru with an 11 per cent share, Venezuela with 10 [per cent, and Bolivia with nine per cent, countries that continue to play a significant role in the regional natural gas supply.
The report also highlights growing regional energy interconnection. During January, 56 per cent of oil imports and 59 per cent 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 Development Bank of Latin America and the Caribbean (CAF), is advancing the Mercosur and 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 said it 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.
CMC/ag/ir/2026