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May 22 (Reuters) - Brazil's state development bank BNDES has cut its stake in state-run oil firm Petrobras and in power company Axia Energia , selling shares from both this month, four sources told Reuters on condition of anonymity. Petrobras and Axia, along with electric utility firm Copel and meatpacker JBS , account for the largest... Continue Reading →
May 22 (oilprice.com) Brazilian President Luiz Inácio Lula da Silva has explicitly linked oil exploration and rare-earth mining to Brazil's national sovereignty, declaring that the country’s subsoil resources must be used to drive domestic industrialization rather than enrich foreign nations. Speaking at Petrobras’(NYSE:PBR) giant refinery, Refinaria de Paulínia (Replan), in São Paulo, Lula emphasized that Brazil must actively... Continue Reading →
May 22 (oilnow.gy) ExxonMobil Guyana Limited (EMGL) has issued a request for information (RFI) seeking technical input from suppliers for the potential construction of up to two DP2 chemical carrier platform supply vessels (PSVs). The RFI, published on May 19, outlines plans for a service agreement covering DP2 chemical PSVs designed to carry type I,... Continue Reading →
May 22 (offshoreWIND.biz;) The consortium comprising Oxan Energy, Ingka Investments, and Avapa Energy has submitted an Environmental Impact Assessment (EIA) for the 1.14 GW Sicily South floating wind project to Italy’s Ministry of Environment and Energy Security. The filing of the EIA officially launches the public consultation phase. Now renamed Dentice, the floating wind farm... Continue Reading →
May 22 (Reuters) Brazil's federal tax revenue surged in April, official data showed on Thursday, buoyed by higher oil-related receipts as elevated crude prices linked to the U.S.-Israel war on Iran lifted government intake under President Luiz Inacio Lula da Silva. Total revenue reached 278.823 billion reais ($55.86 billion), up 7.82% in real terms from... Continue Reading →
May 21 (oilnow.gy) Guyana’s Natural Resource Fund (NRF) surpassed the US$4 billion mark for the first time at the end of April 2026, supported by high crude prices and stable offshore crude production. According to the April report for the NRF, the fund closed the month with a balance of approximately US$4.1 billion (GY$856 billion).... Continue Reading →
May 21 (oilnow.gy) The Guyana government and Viridien/CGG Services will commence geotechnical and seismic survey operations within offshore Block S4, which was licensed last year to a TotalEnergies-led group. Guyana’s Maritime Administration Department (MARAD) announced the survey in notices. The notices, dated May 18, 2026, said the work will take place within Guyana’s Exclusive Economic... Continue Reading →
May 21 (OE) Rockhopper Exploration has informed that the operator Navitas Petroleum is studying an accelerated expansion of the Sea Lion offshore oil development north of the Falkland Islands after signing a memorandum of understanding for a second floating production, storage and offloading vessel (FPSO). The additional FPSO could raise Sea Lion production capacity by... Continue Reading →
May 21 (OE) Saipem and Petrobras have signed a memorandum of understanding (MoU) to initiate a technical dialogue aimed at assessing and potentially developing integrated solutions for decommissioning activities in Brazil, with reference to oil and gas fields, subsea systems and associated infrastructure. In particular, the MoU covers plug and abandonment activities – relating to... Continue Reading →
Rio de Janeiro, May 20, 2026 – Petróleo Brasileiro S.A. – Petrobras, announces that its Board of Directors, at a meeting held today, approved the company’s adherence to the economic subvention program for producers and importers of petroleum‑based fuels, established by Provisional Measure (MP) 1,358, dated May 13, 2026. The economic subvention established under this... Continue Reading →
Brazil Energy Insight 