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Jan. 13 (oilprice.com) Last year, upstream oil investment was projected to have declined 2.5% Y/Y to $420 billion after low oil prices put pressure on producers and slowed expansion plans. Companies across the industry continued to prioritize profitability, free cash flow, and debt reduction over aggressive production growth, a trend reinforced by macro uncertainty. The decline was... Continue Reading →
Jan. 12 (OE) Navitas Petroleum has signed a non-binding agreement to farm into an offshore exploration license in the North Falklands Basin adjacent to its recently sanctioned Sea Lion oil development, as the operator advances plans to expand its footprint in the region. Eco (Atlantic) Oil & Gas said Navitas has entered into a non-binding... Continue Reading →
Jan. 11 (OE) French tubular solutions supplier Vallourec has secured a significant contract with Shell for oil and gas project offshore Brazil. The agreement covers the supply of oil country tubular goods (OCTG) products and services for Shell’s offshore operations in the development of the Orca project, formerly known as Gato do Mato. The expected... Continue Reading →
Jan. 8 - The Brazilian Institute of Environment and Renewable Natural Resources (Ibama) sent an official letter to Petrobras (PETR3;PETR4), requesting technical information about the biodegradable fluid leak accident during offshore drilling activity in Block FZA-M-59, on the Equatorial Margin. The letter was sent by the General Coordination of Environmental Licensing of Marine and Coastal... Continue Reading →
Jan. 8 (oilnow.gy) Axess Group has secured a long-term Asset Integrity Management contract with Noble Corporation for operations offshore Guyana. The agreement covers inspection and certification services for four Noble drillships operating in Guyana’s offshore basin. The work is aimed at supporting safety, regulatory compliance, and operational performance. Under the contract, Axess said on January... Continue Reading →
Jan. 4 - The Transocean Deepwater Mykonos rig has been contracted by BP for a campaign estimated at 302 days. Operations are scheduled to begin in the third quarter of 2026, contributing approximately US$120 million to Transocean's backlog. This amount does not include any additional services or compensation related to the mobilization and demobilization of... Continue Reading →
Jan. 6 (PN) The first operational challenge for Petrobras in the search for oil on the Equatorial Margin. The oil company halted drilling at the Morpho well, in block FZA-M-059, off the coast of Amapá last Sunday (4). In a note sent today the oil company explained that it interrupted the activity after identifying the... Continue Reading →
Jan. 6 (oilnow.gy) Guyana is set to rank second among the world’s largest new oil field start-ups in 2026, with first production from the Uaru field expected to begin in July at nearly 136,000 barrels per day (b/d), according to S&P Global Energy CERA on January 5. “Eight of the world’s largest oil field developments... Continue Reading →
Jan. 6 (oilnow.gy) Guyana’s Minister of Natural Resources, Vickram Bharrat, has assured that offshore oil and gas exploration activities continue without a hitch. The assurance comes amid heightened geopolitical tensions in the region following the capture of Venezuelan President Nicolás Maduro by U.S. military forces over the weekend. Bharrat confirmed to OilNOW on January 4... Continue Reading →
January 5, 2026 - PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices incorporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of December. Key: (1) The figures refers to PRIO’s 80% stake in Peregrino, considering production throughout the month. As the closing of the acquisition of the additional... Continue Reading →
Brazil Energy Insight 