Guyana to remain a carbon sink through 2030, even with massive oil projects online

March 23 (oilnow.gy) Guyana will remain a net carbon sink through 2030 even as it expands oil production with multiple offshore projects, according to an environmental impact assessment (EIA) for ExxonMobil’s proposed Longtail development. The assessment, prepared by ExxonMobil consultant Acorn International, found that cumulative greenhouse gas emissions from existing activities, the Longtail project and associated... Continue Reading →

March 23, 2026 0

Yellowtail production could climb to 290,000 b/d pending government green light

March 23 (oilnow.gy) ExxonMobil Guyana plans to boost production at its Yellowtail offshore oil project by roughly 10% as it conducts a new optimization study, company President Alistair Routledge said on March 19. Yellowtail, which started production in August 2025, reached its initial target production of 250,000 barrels per day (b/d) by November. ExxonMobil has since... Continue Reading →

March 23, 2026 0

PRIO Announces Production of the first Wahoo Well

March 23, 2026 - PRIO S.A. (the “Company” or “PRIO”) (B3: PRIO3), further to the Material Fact disclosed on March 19, 2026, informs that the first producing well of the Wahoo Field has reached stabilized production of 12,000 barrels of oil per day. The schedule for bringing the remaining wells online remains as planned, with... Continue Reading →

March 23, 2026 0

Brazilian city trials new biofuel aimed at replacing diesel entirely

March 20 (Reuters) - As widening conflict in the Middle East roils global energy markets, one city in southern Brazil is planning to run more of its municipal fleet on an innovative homegrown biofuel designed to replace diesel entirely. Nestled among rolling expanses of soybean farms in the ‌state of Rio Grande do Sul, the... Continue Reading →

March 22, 2026 0

IBAMA Updates License for the Raia Field and Authorizes Equinor Drilling of Three Wells

March 19 - IBAMA (Brazilian Institute of Environment and Renewable Natural Resources) issued a correction to the drilling license for block BM-C-33 in the Campos Basin, where the Raia field is located. In the document, the federal agency authorized the drilling of three wells in the area using the DS-17 drillship, operated by Valaris. IBAMA... Continue Reading →

March 20, 2026 0

Maha Capital buys stake in Venezuelan oil field

March 18 - Maha Capital, a Stockholm-listed oil company controlled by the Brazilian asset manager Starboard, exercised its right to acquire a 24% stake in a Venezuelan oil field following the easing of sanctions by the United States. The decision came after the US Treasury Department authorized transactions with the state-owned PDVSA this week, paving... Continue Reading →

March 20, 2026 0

Brazil regulator tells Petrobras to supply fuel from canceled auctions

March 19 (Reuters) - Brazilian oil regulator ANP will tell state-run oil firm Petrobras to supply the diesel and gasoline ‌volumes that the company would have auctioned this week in deals later canceled, it said on Thursday. This comes within a package of measures to monitor fuel stocks and imports and prevent possible supply problems, the... Continue Reading →

March 20, 2026 0

Sumitomo Corporation do Brasil and Cemvita Partner to Integrate production of Bio-Methane and Bio-Oil, a precursor of SAF in Brazil

March 18, 2026 /PRNewswire/ -- Sumitomo Corporation do Brasil and Cemvita, Inc. today announced the signing of a Memorandum of Understanding (MOU) to collaborate on integrated bio-methane (Renewable Natural Gas, RNG) and renewable bio-oil (FermOil™) projects in Brazil. The partnership is focused on accelerating the deployment of low-carbon, waste-based fuels and strengthening Brazil's position as a... Continue Reading →

March 19, 2026 0

Petrobras announces results in the Capacity Reserve Auction

March 19 - Petrobras announces that it has contracted eight power plants from its thermoelectric energy portfolio in the 2026 Capacity Reserve Auction (LRCAP 2026), held today by Brazil’s National Electric Energy Agency (ANEEL) and the Electric Energy Trading Chamber (CCEE), with technical support from the Energy Research Company (EPE). The auction aimed to contract firm capacity for the National... Continue Reading →

March 19, 2026 1

Saipem’s subsea drone clears tests with Petrobras ahead of offshore deployment

March 19 (offshore-energy.biz) Saipem’s underwater inspection drone (UID) FlatFish has completed a test campaign with Brazil’s oil & gas major Petrobras as part of a contract awarded in 2023, ahead of deployment in a real offshore environment. The functional acceptance tests (FAT) were held at Saipem’s underwater drone testing facility in Trieste, Italy, in the... Continue Reading →

March 19, 2026 0

Brazil Energy Insight

Guyana to remain a carbon sink through 2030, even with massive oil projects online

Yellowtail production could climb to 290,000 b/d pending government green light

PRIO Announces Production of the first Wahoo Well

Brazilian city trials new biofuel aimed at replacing diesel entirely

IBAMA Updates License for the Raia Field and Authorizes Equinor Drilling of Three Wells

Maha Capital buys stake in Venezuelan oil field

Brazil regulator tells Petrobras to supply fuel from canceled auctions

Sumitomo Corporation do Brasil and Cemvita Partner to Integrate production of Bio-Methane and Bio-Oil, a precursor of SAF in Brazil

Petrobras announces results in the Capacity Reserve Auction

Saipem’s subsea drone clears tests with Petrobras ahead of offshore deployment

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