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Nov. 11 (oilnow.gy) Japan’s MODEC earned more construction revenue from ExxonMobil’s Hammerhead project offshore Guyana in the first nine months of 2026, the company said in its November 10 investor presentation. Group revenue rose 10.1% to US$3.69 billion, while profit attributable to shareholders increased 24.8% to US$306.5 million. MODEC said revenue from Hammerhead and Shell’s... Continue Reading →
Nov 11 (Reuters) - Wind turbine maker Vestas posted a weaker-than-expected third-quarter profit on Wednesday as a result of softer deliveries and costs incurred from a broken blade at a German offshore project, sending the Danish company's shares lower. Vestas also reported lower order bookings than expected by analysts for the July to September period,... Continue Reading →
Nov 10 (Reuters) - Venezuelan lawmakers approved a reform on Tuesday to the country's electricity law, opening the unreliable power sector to private investment after nearly two decades of state control. The reform is the latest pushed by interim President Delcy Rodriguez, who wants to foster private investment in oil, gas and mining following the... Continue Reading →
Nov. 10 - In a quarter marked by strong operational performance, with record results in the E&P, Refining and Marketing segments, Petrobras reported net income of BRL 39.8 billion (US$ 7.7 billion) in the third quarter of 2024. Excluding one-off items in the quarter, net income reached BRL 47.9 billion (US$ 9.3 billion), representing a... Continue Reading →
Nov. 10 - Petrobras announces that it has raised its 2026 production projections. The estimate for total oil and gas production attributable to Petrobras has increased from 3.1 million boed to a range of 3.3 million to 3.4 million boed. The projection for oil and NGL production has increased from 2.5 million bpd to a... Continue Reading →
Nov. 10 - Petrobras, pursuant to CVM Resolution No. 44/21, informs that its Board of Directors, at a meeting held today, approved the payment of shareholder remuneration in the amount of R$ 15.3 billion, equivalent to R$ 1.18732774 per outstanding common and preferred share, as an anticipation of the remuneration to shareholders related to the... Continue Reading →
Nov. 10 (oilprice.com) Hamburg-based International Tribunal for the Law of the Sea on Tuesday begins hearings of Argentina’s complaint about the UK’s oil drilling project north of the Falkland Islands, which Argentinian President Javier Milei claims is unlawful amid a recently revived row with Britain over who controls the Falklands. The Sea Lion oil field... Continue Reading →
Nov. 10 (Reuters) ExxonMobil said on Monday it signed a memorandum of understanding with Venezuelan state oil company PDVSA to assess upstream oil opportunities, marking a potential return to the country nearly two decades after its assets were expropriated. The agreement is non-binding and does not commit Exxon to any specific project. "This memorandum is... Continue Reading →
Nov. 10 (OE) Eco (Atlantic) Oil & Gas has completed the farm-down of 60% participating interests in three Namibia’s offshore exploration licenses to BP, transferring operatorship of the blocks and clearing the way for a new seismic exploration program. The transaction covers Block 2012A under PEL97 (Cooper), Blocks 2111B and 2211A under PEL99 (Guy), and... Continue Reading →
Nov. 8 (PN) On the eve of completing 50 years of production, the Campos Basin finds itself at a decisive juncture for its future within the Brazilian oil and gas industry. Responsible for more than half of all the oil ever produced in the country, the region is now grappling with the effects of field... Continue Reading →
