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March 2 - In January 2026, Brazil produced 5.168 million barrels of oil equivalent per day (boe/d) of oil and natural gas. The data was released today by the ANP in its Monthly Oil and Natural Gas Production Bulletin. Regarding oil, 3.953 million barrels per day (bbl/d) were extracted, a decrease of 1.5% compared to... Continue Reading →
March 1 - After a softer 2025, floater backlog is strengthening for 2026 and beyond, driven by early contracting, strong South American demand, and a growing pipeline of 2027+ programs. By the close of 2025, total floating rig backlog days had fallen 25% compared with 2024. This was in large part due to few contract... Continue Reading →
February 27, 2026 — OceanPact and CBO announced today, in a Regulatory Filing, the combination of their businesses, to be implemented through the incorporation of CBO’s holding company into OceanPact. Closing of the transaction is subject to approval by the Brazilian Antitrust Regulatory Agency (CADE), as well as the fulfillment of other customary conditions precedent... Continue Reading →
Feb. 28 (oilprice.com) Once one of South America’s poorest countries, Guyana is now ranked among the world’s richest because of the vast petroleum wealth contained in its territorial waters. A swath of major oil discoveries in the offshore Stabroek Block by operator ExxonMobil, with partners Chevron and CNOOC, saw Guyana emerge as a major oil producer and... Continue Reading →
Feb 28 (oilprice.com) Last year was an event-filled period for South America’s growing oil industry. The continent’s energy map is being rewritten by a few unexpected world-class oil booms, which makes the region a key source of non-OPEC production growth. There is also the potential for Venezuela to reemerge as a major petroleum producer after U.S.... Continue Reading →
Feb. 28 - According to the Wall Street Journal (WSJ), major energy lobbying groups, including the American Petroleum Institute (API), recently urged the Trump administration to halt its offensive against offshore wind. Since taking office, Trump has maintained a hard line on offshore wind and halted major projects from Massachusetts to Virginia. In a meeting... Continue Reading →
Feb 27 (Reuters) - The Trump administration has appointed a hard-right critic of Brazil's current government to a position shaping U.S. policy toward the South American nation, a move that suggests relations between the Western Hemisphere's two largest democracies remain delicate despite a recent rapprochement. Darren Beattie, who is also the acting assistant secretary of... Continue Reading →
Feb 27 (Reuters) - Mexican state energy company Pemex narrowed losses sharply in the fourth quarter, booking a net loss of 155.23 million pesos ($8.62 million), a filing to the Mexican stock exchange showed on Friday. Over the same quarter a year earlier, it booked a net loss of 350.46 billion pesos, the filing showed.... Continue Reading →
Feb. 27 ( maritime-executive.com) Three of the five offshore wind projects under construction in the northeast U.S. have each signaled this week strong progress. It comes after each project received preliminary injunctions against the U.S. Department of the Interior and the Bureau of Ocean Energy Management, which had imposed stop-work orders in late December. Speaking... Continue Reading →
Feb. 27 (Reuters) Venezuela's oil ministry has suspended 19 oil production-sharing contracts with private companies signed under the administration of President Nicolas Maduro, four sources with knowledge of the move told Reuters on Thursday. The suspension has had no impact on the country's oil and gas output so far, the sources said. State oil giant... Continue Reading →
Brazil Energy Insight 