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March 3 (Reuters) - The U.S.-Israeli conflict with Iran presents Brazil with an "enormous opportunity" to attract investments to develop its oil assets, Shell's CEO in the country told reporters on Tuesday. Brazil's geopolitical stability and track record as a reliable oil producer give it an advantage over other nations, Cristiano Pinto da Costa said, though... Continue Reading →
March 3 (oilprice.com) South America’s largest economy, Brazil, is on track to be a top 5 global oil producer. During 2023, Brazil received an offer to join the OPEC+ price cartel, but it took until early 2025 for the government in the capital Brasilia to accept membership. This signaled a significant change in government strategy, with... Continue Reading →
March 3 (Reuters) - London listed oil company Shell is committed to investing 3.5 billion reais ($667.84 million) in troubled sugar and ethanol maker Raizen, the energy company's Brazil CEO said on Tuesday. Raizen has reported a string of losses and soaring net debt in recent quarters amid costly investments and poor weather negatively impacting crops,... Continue Reading →
March 3 (OE) Underwater technology specialist Sonardyne has launched Observer, a new advanced monitoring system for real-time integrity management of subsea infrastructure across the offshore energy industry. Observer combines high and low frequency motion and position monitoring, powerful in-built analytics and wireless communications to deliver live insight into how subsea assets are truly behaving. This... Continue Reading →
March 2 (Reuters) - Brazilian state-run oil firm Petrobras sees oil prices under pressure due to the conflict in Iran, but does not usually pass through sudden volatility to the domestic fuel market, its chief executive officer said on Monday. Global oil prices jumped after Iran's retaliatory attacks disrupted shipping through the Strait of Hormuz, following weekend strikes by Israel... Continue Reading →
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 →
Brazil Energy Insight 