Exail supplies LBL positioning systems for major deepwater energy projects in Brazil and Angola

March 10, 2026 – Exail is supplying over 70 acoustic transponders and integrated navigation suites for two major deepwater energy projects in Brazil and Angola. These contracts mark a significant milestone in the global adoption of Exail’s Long Baseline (LBL) subsea positioning technology, supporting subsea construction, offshore infrastructure installation, and survey operations in complex environments... Continue Reading →

March 11, 2026 0

South America Dominates Global FPSO Market With $181 Billion Deepwater Buildout

Feb. 27 (oilprice.com) South America is set to maintain its position as the most significant region for floating production, storage, and offloading (FPSO) vessels, with 36 projects awarded or expected to be awarded between 2021 and 2030, totaling field greenfield commitments worth around $181 billion. Among these 36 projects, 25 have disclosed FPSO costs ranging... Continue Reading →

February 27, 2026 0

Italy’s Eni beats profit forecast on strong upstream business

Feb 26 (Reuters) - Italian energy group Eni beat forecasts on Thursday with a 35% year-on-year jump in fourth-quarter adjusted earnings, driven by a strong performance in its exploration and production division and improved refining results. Adjusted net profit came in at 1.2 billion euros ($1.4 billion) between October and December, beating an analysts' consensus forecast... Continue Reading →

February 26, 2026 0

Angola’s state oil firm Sonangol seeks $4.8 billion loan from China for refinery

Feb 25 (Reuters) - Angola's state oil company Sonangol is talking to Chinese financial institutions to secure a $4.8 billion loan to partly finance the construction of a new refinery in the Atlantic sea port of Lobito, it said on Wednesday. The financing, if completed, will mark the first borrowing by the Southern African oil... Continue Reading →

February 25, 2026 0

Saipem Eyes Comeback in Venezuela as Sanctions Ease

Feb. 25 (Reuters) Italian oil contractor Saipem is ready to resume activities in Venezuela for both offshore and onshore projects after the easing of U.S. sanctions, Chief Executive Alessandro Puliti said on Wednesday. "Things in Venezuela are changing very quickly. It's a country where we worked a lot in the past, and we are ready... Continue Reading →

February 25, 2026 0

South America and Africa to Lead High-Impact Exploration Well Drilling in 2026 – Westwood

Feb. 23 - Africa and South America are expected to lead high-impact exploratory drilling in 2026, with a forecast of 19 and 15 wells, respectively, according to the consulting firm Westwood Global Energy Group. In Brazil, the highlights are the Tupinambá well, from BP, and the Morpho well, from Petrobras. In total, the company estimates... Continue Reading →

February 23, 2026 0

Brazil’s Petrobras to look into Venezuela opportunities, says head of E&P

Feb 20 (Reuters) - Brazil's state-run oil firm Petrobras will look into opportunities in neighboring Venezuela, said the head of Exploration and Production Sylvia Anjos in an interview with newspaper O Globo on Friday. Venezuela has "great potential", but investing in the country is risky, said Anjos, adding that producing in the oil-polluted Lake Maracaibo would put Petrobras'... Continue Reading →

February 20, 2026 0

Azule Energy Makes Significant Oil Discovery Offshore Angola

Feb. 16 (OE) Azule Energy, jointly owned by Eni and BP, has made an oil discovery at the Algaita-01 exploration well in Block 15/06 offshore Angola, with initial estimates pointing to approximately 500 million barrels of oil in place. The well, located in the offshore Lower Congo Basin, was spudded on January 10, 2026, in... Continue Reading →

February 16, 2026 0

Shell needs big discovery or deals as oil, gas reserves dwindle

Feb 9 (Reuters) - Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of oil equivalent per day by 2035 due to maturing fields unable to meet its output targets, the company and analysts say. For years, oil majors have been restrained in topping up reserves,... Continue Reading →

February 9, 2026 0

Namibia won’t recognise TotalEnergies, Petrobras deal due to not following procedure

Feb 8 (Reuters) - Namibia will not recognise the purchase of offshore stakes in the Luderitz Basin announced last week by TotalEnergies and Petrobras until the oil companies follow the proper route for approval, government officials said on Sunday. Jonas Mbambo, a spokesperson for the presidency, confirmed that until a formal application is submitted and the prescribed... Continue Reading →

February 9, 2026 0

Blog at WordPress.com.

Up ↑

Category: Africa