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Aug. 12 (oilnow.gy) Guyana’s expanding oil production is helping create more work for tanker owners as growing volumes of crude from the Americas are shipped to buyers farther east, according to S&P Global. The trend is part of a wider increase in Western Hemisphere crude supply from Guyana, the United States, Brazil and Argentina. More of those... Continue Reading →
Aug. 12 (oilnow.gy) Guyana’s Hammerhead development, the country’s seventh sanctioned offshore oil project, is expected to begin production in 2029 with capacity of about 150,000 barrels of oil per day (b/d). Its associated gas could first fuel Hammerhead’s own operations, with remaining volumes potentially sent through the Gas-to-Energy (GtE) pipeline to shore, connected to future infrastructure... Continue Reading →
Aug. 12 (OE) Borr Drilling reported lower revenue and adjusted earnings for the second quarter of 2026 as rig transitions, higher operating costs and delays getting the Odin to work weighed on results. The jack-up drilling contractor reported Q2 operating revenue of $232.3 million, down 6% from $247 million in the first quarter. Adjusted EBITDA... Continue Reading →
Aug. 11 - Aberdeen-headquartered Proserv, a global leader in controls technology, is accelerating its international growth with a strategic push into Brazil’s dynamic energy market; bringing proven expertise and high-value solutions directly to oil and gas operators seeking to optimize performance, reliability, and efficiency. This localisation marks a significant milestone in Proserv’s international growth strategy,... Continue Reading →
Aug. 11 (Forbes) An innovative pilot project in the Netherlands - focused on energy transition solutions - has reached a milestone moment of producing its first batch of green hydrogen on an active natural gas platform in the North Sea. The project - PosHYdon - led by a consortium of partners with support of the Dutch Ministry... Continue Reading →
Aug. 11 (Reuters) Nigerian President Bola Tinubu approved a new regulatory and fiscal framework for offshore oil and gas projects, his office said on Tuesday, a move the government says could attract up to $50 billion in investment and revive long-delayed developments. Nigeria has struggled in recent years to attract new upstream oil investment amid... Continue Reading →
Aug. 11 (oilnow.gy) Two major offshore oil stories have unfolded on opposite sides of the Guyana-Suriname Basin, but the distance between discovery and production has been very different. Guyana went from the Liza discovery in May 2015 to first oil in December 2019, less than five years later. Its first final investment decision (FID) came in... Continue Reading →
Aug. 10 (PN) Petrobras released the list of companies that submitted bids for the new Albacora FPSO in the Campos Basin. Malaysian company Yinson took the lead in the race, submitting the best offer at US$ 2.297 billion. Four other companies that also submitted bids: China's COOEC (US$ 2.842 billion); India's Shapoorji (US$ 2.9 billion);... Continue Reading →
Aug. 10 (offshore-energy.biz) Italian energy giant Eni has struck a deal with Texas-headquartered oil and gas company APA Corporation to acquire a stake in a block off the coast of Uruguay. APA has signed an agreement with Eni, enabling the Italian firm to become a strategic partner in Block 6 offshore Uruguay. As a result, the U.S.... Continue Reading →
Aug 10 (Reuters) - Argentina's state oil firm YPF on Monday reported a net profit of $1.21 billion in the second quarter of 2026, compared with $58 million seen a year earlier, citing higher shale production, record processing levels and a hike in international prices. The state-run producer's revenues reached $6.57 billion during the April-to-June... Continue Reading →
Brazil Energy Insight 