AGP Executive Report

Oil & Gas Discoveries: Brazil’s Lula hailed Petrobras’ new oil find near the Amazon as a “passport to the country’s future,” framing it as sovereignty-boosting despite environmental drilling pushback. Power & Renewables: Chile’s AES Andes inaugurated a 510 MW solar-plus-storage complex in the Atacama, with the Hub now totaling 692 MW of PV and 510 MW of storage after earlier phases. Gas Infrastructure (Argentina): Argentina moved ahead on the Tratayén–La Carlota pipeline under RIGI by creating a special-purpose vehicle, Gasoducto Manuel Belgrano, to build and run the 750-km system feeding northern provinces from Vaca Muerta. Energy Markets: Oil prices extended gains above $91/bbl as Strait of Hormuz supply fears linger, while traders weigh demand softness against geopolitical risk. Finance & Demand Pressure (Argentina): A report says Argentine household debt delinquency has surged, with millions falling 90+ days behind as subsidy cuts squeeze budgets. Cybersecurity (Regional): Nigeria’s Digital Encode launched DEPAS AI, an autonomous access-testing tool aimed at countering AI-led cyber threats.

Venezuela Power Policy: PSUV chief Diosdado Cabello says cryptocurrency mining is “totally prohibited” as the government pushes electricity savings, while the party reports house-to-house visits to 335,000 homes and 4,500 meetings to manage the Super Child climate emergency. Venezuela Offshore Gas Deals: BP and Abu Dhabi’s XRG signed new offshore exploration agreements for Venezuela’s Loran Phase 2, targeting about 4 Tcf of recoverable gas, with BP set to operate alongside partners UCC. Chile Grid Flexibility: Sungrow will deliver a 152 MW / 606 MWh battery storage system for Verano Energy’s Observatorio solar project in Chile, supporting dispatch and renewables integration under a 25-year service deal. Brazil Oil Search: Petrobras says it found hydrocarbons in a deepwater exploratory well off Amapá in the Foz do Amazonas basin, with drilling continuing to assess the discovery. Argentina Gas Infrastructure: TGN’s Tratayén–La Carlota pipeline project is moving under a new SPV structure tied to RIGI incentives, aiming to expand Vaca Muerta gas transport to northern provinces. Argentina Politics vs Energy Reform: Milei’s land-ownership liberalization faces major street protests and a failed congressional push, underscoring political friction around sweeping economic changes. Regional Energy Context: A Reuters market note links higher oil prices to Iran-war uncertainty as Wall Street waits on big retail earnings.

Argentina Gas Infrastructure: TGN’s subsidiary was renamed Gasoducto Manuel Belgrano to set up an SPV for the $1.5bn Tratayén–La Carlota gas pipeline, aimed at boosting high-pressure transport from Vaca Muerta to northern provinces under Argentina’s RIGI rules. Argentina LNG Push: Argentina LNG has applied for RIGI participation for a $51bn integrated LNG project offshore Río Negro, with YPF, Eni and XRG backing two FLNG units totaling 12 mtpa. Venezuela Gas Dealmaking: XRG entered Venezuela via the offshore Loran licence, joining bp and UCC (subject to approvals) to develop proven gas resources and deepen a regional gas-to-LNG platform. Venezuela Operations Update: ONGC secured a US OFAC licence to resume full Venezuela operations, signaling a step-up in activity after prior restrictions. Renewables Grid Limits: A Reuters report says China curtailed 360 TWh of clean power in the first half of 2026 as grids hit limits, highlighting how transmission and contract rules are slowing solar buildout. Offshore Wind Warning: An industry analysis says US offshore wind growth has been crushed by policy risk, with recovery likely to take years. Caribbean Energy & Industry: Uruguay’s only industrial brewer, FNC, is negotiating restructuring that could cut 80 jobs as imported beer from Brazil gains share.

Venezuela–Trinidad & Tobago energy push: T&T and Venezuela signed new energy agreements tied to the Lorán gas push, as officials frame the deal as a boost for regional gas supply and power security. Venezuela gas licensing momentum: ONGC received a U.S. sanctions waiver to restart full Venezuela operations, while BP and partners advanced offshore Lorán Phase 2 work and secured additional Venezuelan gas licences. Argentina gas infrastructure under RIGI: Argentina moved the $1.5bn Tratayén–La Carlota pipeline forward by renaming a TGN subsidiary as an SPV to build and run the 750-km system, aiming to expand Vaca Muerta gas transport to northern provinces. Argentina political risk meets energy reform: As Milei backs market-opening measures, thousands protested in Buenos Aires against a bill that would raise limits on foreign land ownership and tighten eviction rules—raising the political temperature around investment reforms. Colombia earthquake aftershocks: Rescue efforts continued after a major quake in western Colombia, with reports of overwhelmed hospitals and ongoing searches for missing people. Cuba–U.S. standoff: Cuba said it is willing to talk with the U.S. “without pressure,” amid fuel and power strain linked to broader regional energy tensions. Trade and energy spillover: U.S. tariff talks with Canada and a U.S. crackdown on “transshipment” aimed at tariff evasion could reshape regional energy and critical-minerals negotiations.

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.

Venezuela Gas Push: Trinidad and Tobago’s PM Kamla Persad-Bissessar backed acting President Delcy Rodríguez’s Loran Phase 2 and Plataforma Deltana hydrocarbon licence signings, pointing to up to ~7 Tcf of gas for cross-border processing and LNG/petrochem growth. Offshore Dealmaking: bp and partners (XRG, UCC) secured Phase 2 Loran offshore gas licences, with bp as operator and a framework also covering the Carúpano East Block. Regional Energy Diplomacy: Brazil–U.S. tensions deepened as Lula blocked a new U.S. ambassador and rejected U.S. monitoring of Brazil’s election, while also warning that Strait of Hormuz-related costs could hit global oil markets. Trade Pressure After Disasters: Colombia’s president urged Trump to temporarily suspend tariffs after the earthquake, noting exemptions for some commodities but continued pressure on the broader economy. Energy Infrastructure in Argentina: TGN’s renamed Gasoducto Manuel Belgrano set up an SPV to advance the $1.5B Tratayén–La Carlota gas pipeline under RIGI, aiming to move Vaca Muerta gas to northern provinces. Market/Geopolitics Watch: Analysts flagged oil supply reshuffling as Europe faces refining capacity losses, with attention turning to alternative routes and Gulf supply stability.

Gas Infrastructure & Investment: Argentina’s TGN unit has been renamed Gasoducto Manuel Belgrano to create a special-purpose vehicle for the $1.5B Tratayén–La Carlota gas pipeline, a 750-km project meant to move more Vaca Muerta gas to northern provinces under the RIGI regime. Oil Exploration in the Amazon: Petrobras says it has detected hydrocarbons in an exploratory well about 175 km off Brazil’s Amapá coast in the Equatorial Margin, a move environmental groups oppose as drilling expands near the rainforest. Indigenous Rights vs Rail Expansion: Brazil’s Xavante leaders warn the FICO rail project threatens sacred sites and community cohesion, saying the government failed to secure prior informed consent; they’ve taken the case to the UN’s Indigenous Peoples rights mechanism. Water & Energy Resilience in Puerto Rico: Puerto Rico’s drought has triggered water rationing for 180,000 households, with advocates pushing roof rainwater harvesting as a decentralized fix amid aging infrastructure. Regional Politics & Energy Context: Ecuador’s President Daniel Noboa is set for a state visit to China to deepen cooperation that includes energy and infrastructure, as ties with Beijing expand.

Venezuela–Trinidad Gas Push: Venezuela says it will send about 7 Tcf of natural gas to Trinidad and Tobago for processing, advancing the cross-border Loran-Manatee project after BP, XRG and UCC Holding signed Phase Two licences. Venezuela Power Rehab: The country is also moving to restart stalled hydro work at Macagua and Tocoma, aiming to bring back hundreds of megawatts and eventually expand capacity. Argentina Gas Infrastructure: Argentina’s TGN unit was renamed to set up a special-purpose vehicle for the $1.5bn Tratayén–La Carlota gas pipeline under RIGI, targeting more Vaca Muerta gas transport to northern provinces. Mexico Sargassum Crisis: Mexico’s Caribbean states cleared 105,000 metric tons of sargassum this year, already above last year’s record, as nutrient runoff and ocean shifts fuel another tough season. Renewables Shift: A new global energy snapshot shows solar overtook wind in 2025, with renewables supplying about one-third of world electricity. Regional Disruption: CARICOM IMPACS said Operation Eclipse seized about US$54.5m in illicit assets across the Caribbean, targeting smuggling routes. Colombia Earthquake Fallout: Colombia’s quake damage is also hitting cultural infrastructure, with reports of major destruction at Pereira’s Museo de Arte de Pereira.

Venezuela Energy Opening: BP is returning to Venezuela with a license to operate Loran phase two, partnering with Abu Dhabi’s XRG and Qatar’s UCC Oil & Gas Holding on equal stakes for offshore natural gas development, a clear sign foreign capital is accelerating back into PDVSA’s gas push. Gas Infrastructure in Argentina: Argentina’s TGN subsidiary has been renamed as Gasoducto Manuel Belgrano to set up a special-purpose vehicle for the $1.5bn Tratayén–La Carlota gas pipeline under RIGI, aiming to move Vaca Muerta gas to northern provinces and reshape the country’s gas flows. Colombia Earthquake Response: Colombia’s disaster agency chief vowed to keep searching for hundreds still missing after the 7.4 quake, even as the chance of finding survivors fades, with Cali and Pereira facing major damage and displacement. Critical Minerals & Processing: A Duke–UCT report highlights that Global South bottlenecks are increasingly in lithium and rare-earth processing, not mining, urging investment in midstream conversion and separation. Renewables Finance: Econergy secured about €229m financing for Romania’s Parau 2 solar-plus-storage project, supporting grid flexibility and long-term revenue via a CfD award. Trade Pressure on Energy Costs: The US flagged India and other countries in a “shadow transshipment” crackdown tied to tariff evasion, a reminder that trade friction can quickly spill into energy and commodity markets.

Venezuela Gas Push: Venezuela signed energy agreements with BP, XRG (UAE) and UCC (Qatar) to advance Phase 2 of the Loran gas field, aiming to boost non-associated gas output and move the country toward becoming a gas-exporter. Offshore Investment: BP and partners also took stakes in Venezuela’s massive offshore Loran gas field, signaling renewed upstream momentum. Argentina Gas Infrastructure: Argentina created a special-purpose vehicle to drive the $1.5B Tratayén–La Carlota gas pipeline under its RIGI incentives, targeting more Vaca Muerta gas transport to northern provinces. Brazil Land-Use Rules: Brazil’s Supreme Court upheld the Soy Moratorium, keeping limits on soy tied to Amazon deforestation while also ruling some state laws partially constitutional. Grid Reliability in Venezuela: COPORLEC and local authorities cleared high-voltage lines under Plan Pica y Poda in Yaracuy to reduce unscheduled outages. Regional Energy Context: A U.S. ambassador warned Argentina that Chinese involvement in strategic sectors around Vaca Muerta could deter foreign investment over data-security concerns. Renewables & Resilience (Caribbean): The CDB and World Bank reviewed Grenada projects, including geothermal drilling and water upgrades, agreeing follow-up steps to improve delivery.

Colombia Earthquake Response: Colombia’s 7.4 quake has triggered a fast-moving rescue and aid push, with Catholic charities mobilizing for relief as the death toll and missing persons remain fluid. Geology Shock Fallout: A rare mud volcano erupted in Antioquia shortly after the quake, sending sludge and trapping livestock, adding another hazard for affected communities. Argentina Energy Infrastructure: Argentina’s gas pipeline push advanced as TGN’s subsidiary was renamed and structured to drive the $1.5bn Tratayén–La Carlota project under the RIGI regime, aiming to expand Vaca Muerta gas transport to northern provinces. Cuba Power Crisis Politics: Cuba marked Fidel Castro’s centenary amid a deepening energy squeeze, with the U.S. blockade still central to the island’s crisis narrative. Natural Gas Outlook: The U.S. EIA expects natural gas inventories to rise into October, building a winter heating cushion, while LNG maintenance and feedgas shifts shape the forecast. Renewables & Storage in LatAm: Mexico continues scaling solar-plus-storage financing, while Chile sees new BESS capacity tied to hybrid projects. Critical Minerals: Vale Base Metals is moving ahead with a Salobo copper capacity expansion in Brazil, targeting higher output and gold byproduct gains.

Colombia Earthquake Response: A 7.4 quake in western Colombia has killed at least 254 people, with rescuers digging through rubble amid heavy aftershocks and curfews as cities assess damage and displaced families seek shelter. Argentina Energy & Land Policy: Argentina’s Milei era faces fresh street protests over a bill that would expand foreign land ownership and tighten eviction rules, while the government also signals a push to reshape the economy. Argentina Gas Infrastructure: TGN’s renamed Gasoducto Manuel Belgrano will run an SPV for the $1.5bn Tratayén–La Carlota gas pipeline, aiming to move more Vaca Muerta gas to northern provinces under the RIGI regime. Brazil Amazon Governance: Brazil’s Supreme Court upheld laws affecting the soy moratorium, a decision that could reshape incentives tied to deforestation-linked soy. Cuba Power Crisis: Cuba’s fuel shortage is worsening as oil supply disruptions hit a grid that relies heavily on fuel generation, deepening daily hardships. Regional Power Buildout: UAE’s Global South Utilities opened a 50MW solar-plus-storage plant in the Central African Republic, boosting capacity and targeting large household coverage. U.S.-Gulf Oil Leases: The U.S. Interior Department’s Gulf of America lease sale brought in $82.7m, adding momentum to offshore drilling plans.

Argentina–Colombia political alignment: Milei backed allies while thousands of Argentines protested a bill that would raise the foreign land-ownership cap to 25% and tighten eviction rules, as he attended Colombia’s new president’s inauguration. Argentina gas buildout: TGN’s renamed Gasoducto Manuel Belgrano sets up an SPV to push the $1.5bn Tratayén–La Carlota 750-km gas pipeline under RIGI, aiming to move Vaca Muerta gas to northern provinces. Brazil grid risk from solar: TÜV Rheinland warns Brazil faces up to 14 GW of irregular distributed solar that could threaten grid security, prompting Aneel scrutiny of unauthorized micro- and mini-generation expansions. Venezuela–Israel normalization: Caracas resumes consular services and technical cooperation with Israel after a 17-year break, framed around earthquake recovery and consular coordination. Oil market stress: The IEA says global oil stockpiles are rapidly depleting and flags renewed urgency around reopening Hormuz, while shipping and supply-chain strain remain elevated. Colombia quake impacts: A century-strong 7.4 earthquake has left hundreds dead and many missing, with major disruption reaching as far as New Jersey families trying to reach relatives. Mexico solar-plus-storage momentum: Mexico’s CIP reached financial close on a 420MW solar-plus-storage project, adding to the country’s fast-growing storage pipeline. Shipping economics: Panama Canal transit prices hit record levels as El Niño-driven water drops collide with strong demand tied to Middle East tensions.

Argentina Gas Buildout: TGN’s renamed Gasoducto Manuel Belgrano will act as an SPV to push the $1.5bn Tratayén–La Carlota gas pipeline under Argentina’s RIGI regime, aiming to move more Vaca Muerta gas to northern provinces via a 750-km high-pressure line. US–Venezuela Maritime Fallout: The US has sold two seized Venezuelan-linked oil tankers for scrap to a Dubai recycler, with dismantling planned in India—an episode Venezuela and others call maritime piracy. Colombia Earthquake Response: A 7.4 quake has killed at least 181 people, damaged thousands of homes, and disrupted power, telecoms and transport as rescue teams continue searching across western cities. AI Power Demand: A new analysis flags a surge in “behind-the-meter” gas generation for AI data centers in the US, with major climate and air-quality risks. Brazil Biodiesel Exports: Brazilian biodiesel producers are shifting toward export sales, chasing certifications and lower-carbon premiums as blending timelines and domestic conditions stay volatile. YPF Earnings Surge: YPF reported first-half profits up sharply to $1.605bn as revenue rose and hydrocarbon output dipped slightly.

Colombia Earthquake Response: A magnitude 7.4 quake hit western Colombia on Aug. 10, killing at least 132 people and injuring 570+ as rescue teams work amid collapsed homes, damaged hospitals, and road disruptions; President Abelardo de la Espriella declared a national disaster. Geology Explained: Experts say the Colombia quake is a deeper subduction event, unlike Venezuela’s June shocks, which were shallower strike-slip faults—so similar magnitudes don’t mean the same damage pattern. Energy Deal in the Caribbean: BP agreed to sell a 20% stake in the Trinidad side of the Cocuina-Manakin cross-border gas field to Trinidad’s NGC, with gas marketing tied to Atlantic LNG and development expected by end-2026. Oil Markets: Oil prices rose as US-Iran talks hit an impasse over reopening the Strait of Hormuz, pushing Brent and US crude to multi-day highs. Lithium Push in Latin America: Lithium Argentina reported strong Q2 results and outlined a modular Stage 2 growth approach, while Coal India weighs Chile lithium assets via Wealth Minerals. Renewables Snapshot: IRENA reported global renewable capacity reached 5,155 GW at end-2025, with solar and wind driving most additions. EV Supply Chain Angle: China’s passenger vehicle exports kept climbing in H1 2026, with Brazil among the top destinations and NEVs led by Brazil plus Europe/Asia-Pacific growth.

Disaster Response: Colombia’s 7.4 earthquake has killed at least 111 people, with 87 injured and hundreds of buildings damaged; President Abelardo de la Espriella declared a national emergency to speed recovery funding and rescue efforts. Energy & Grid Resilience: In Venezuela, PSUV leader Diosdado Cabello says the party is compiling community input on electricity problems after the June 24 seismic event, as officials push measures to stabilize power amid ongoing El Niño concerns. Policy Shift in Oil & Gas: Colombia’s new government has frozen ties with the Sahrawi Arab Democratic Republic and signaled a broader foreign-policy reset under De la Espriella—while Reuters reports his administration is also moving to revive the oil-and-gas sector alongside a tougher security agenda. Gas Supply in the Caribbean: Honduras received its first LNG cargo under a long-term contract with UK utility Centrica, underscoring how gas-to-power projects are pulling LNG demand into the region. Renewables & Storage in Mexico: Construction has begun on a 420MW solar plus BESS facility in Mexico, adding to the country’s push for grid-scale clean power.