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Nov 12 (Reuters) - Colombia's state oil producer Ecopetrol on Thursday posted an 86% jump in net profit year-over-year in the third quarter, buoyed by higher oil prices and the recent acquisition of Brazil's Brava Energia. Net profit hit 4.76 trillion pesos ($1.44 billion dollars) in the quarter and revenues rose by 17.5% year-over-year to... Continue Reading →
Nov. 13 (OE) Nova Scotia and Massachusetts have launched a joint request for information to explore offshore wind development in the Canadian province and potential electricity exports to New England markets. The initiative, announced on November 12, follows a memorandum of understanding signed earlier in 2026 and also involves Maine, Connecticut, Rhode Island and Vermont.... Continue Reading →
Nov. 13 (OE) ExxonMobil has made a final investment decision (FID) for the Longtail gas and condensate development offshore Guyana following government and regulatory approvals, with an additional investment of $12.5 billion planned and production targeted to start in 2030. Longtail will be the eighth development in the Stabroek block, targeting non-associated gas and condensate-rich... Continue Reading →
Nov. 12 - Petrobras informs that it has entered into an agreement to acquire the remaining 70% stake in Logum Logística S.A. (Logum), currently held by Raízen Energia S.A. (30%), Copersucar S.A. (30%) and Uniduto Logística S.A. (10%). Petrobras already holds the other 30% stake in Logum and, upon completion of the transaction, will hold... Continue Reading →
Nov. 12 - Brava Energia has begun drilling two new wells at the Atlanta Field, located in the Santos Basin. To carry out this campaign, the company has mobilized the Lone Star drilling rig to the Santos Basin, continuing its strategy of integrating its offshore operations. The rig was relocated following the completion of work... Continue Reading →
Nov. 12 (PN) Petrobras expects to add at least 520,000 barrels of oil per day to its production capacity by expanding the capacity of its existing FPSOs. According to the company’s CEO, Magda Chambriard, this strategy will allow for the acceleration of additional production by four years, while also avoiding an estimated $10 billion to... Continue Reading →
Nov. 12 (Reuters) BP is in talks with Petrobras to sell a stake in its Bumerangue oil block off the coast of Brazil, Bloomberg News reported on Thursday, citing people familiar with the matter. Reuters could not independently verify the report. BP and Petrobras did not immediately respond to Reuters' requests for comment. Here are... Continue Reading →
Nov. 11 (Reuters) Dutch floating production specialist SBM Offshore on Thursday raised its full-year revenue and core profit guidance for the third time this year, citing a strong year-to-date performance driven by its turnkey unit. The company lifted its directional revenue outlook for the year to about $7.9 billion from $7.6 billion, and said it... Continue Reading →
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 →
