Venezuela–US Energy Reopening: ONGC won a full OFAC green light to restart operations in Venezuela, clearing the way to manage finances, recover more than $500m in pending dividends, and potentially expand or take operatorship roles in projects with PDVSA. Venezuela Gas Push: BP and partners secured/advanced Venezuela’s Loran offshore gas licensing, with XRG also tied to the Loran licence push—another step toward boosting gas supply for the power system. Argentina Shale Momentum: YPF is moving toward a “pure shale” model, targeting near-total production from Vaca Muerta by year-end as it continues divesting conventional assets. Investment Spotlight: Peter Thiel bought a 1% stake in Vista Energy for about $76m, betting on Vaca Muerta scale. Argentina Gas Infrastructure: TGN’s subsidiary was renamed and structured as an SPV to drive the $1.5bn Tratayén–La Carlota gas pipeline under RIGI. Colombia Earthquake Fallout: President Abelardo de la Espriella asked Trump to temporarily suspend higher US tariffs (12.5%) on Colombian goods to ease rebuilding pressure after the 7.4 quake. Paraguay Power Reform: Paraguay plans bills to create a new Ministry of Mines and Energy and an independent electricity regulator, aiming for the biggest sector overhaul in decades. Petrobras Exploration Update: Petrobras reported hydrocarbon shows at the Morpho wildcat in the Foz do Amazonas basin and plans further drilling. Caribbean Energy Deal: BP agreed to buy Woodside’s 70% Calypso stake in Trinidad and Tobago, taking operatorship of the ~3.5 Tcf project. Disaster Response Contrast: Colombia’s quake response benefited from faster multi-entity coordination in the first 72 hours, while Venezuela’s earlier quakes saw more delays and equipment gaps.