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July 28 (OE) Talos Energy has agreed to acquire a 50% working interest in Block 29 offshore Mexico from Repsol, expanding its international portfolio with a pre-final investment decision oil development that includes more than 200 million barrels of oil equivalent of estimated recoverable resources. Under the agreement, Talos will pay $30 million if it... Continue Reading →
July 27 (oilnow.gy) Global oil and gas majors are expanding their exploration portfolios, but most new agreements are focused on securing future opportunities rather than committing to immediate drilling activity, according to an analysis by Westwood Global Energy Group. The analysis, published on July 21, examined exploration agreements secured by the supermajor group, including bp,... Continue Reading →
July 22 (oilprice.com) Since Middle East hostilities reignited, oil prices have soared higher, although they remain below the highs witnessed during April 2026. This can be blamed on U.S. strikes against Iran, with Tehran and Washington disrupting traffic in the Strait of Hormuz, through which a fifth of global hydrocarbon supplies are shipped. This has sparked greater demand for Brazil’s... Continue Reading →
July 17 (OE) Grupo Carso has signed a binding agreement with TotalEnergies to acquire its entire 30% interest in offshore Block 30 in Mexico's Isthmus Saline Basin. The acquisition will be carried out through Mx Dlta Nrg 1, a subsidiary of Zamajal, in which Grupo Carso holds an 80% interest and Control Empresarial de Capitales... Continue Reading →
July 16 (africa.businessinsider.com) An African island nation offered oil companies control of as much as 85% of three offshore blocks. Only two investors came forward. São Tomé and Príncipe has now reportedly rejected every bid submitted in its latest licensing round, delivering another setback to the Central African country’s decades-long search for a commercially viable... Continue Reading →
July 13 (oilnow.gy) A new basin modelling study has identified an area near Suriname’s Block 52 as the strongest oil-generating sweet spot along the Guyana-Suriname margin. GeoExpro published the study results on July 9, 2026. The research was conducted by Kenneth Shipper and Paul Mann of the University of Houston’s CBTH Project, along with Andrew Pepper of... Continue Reading →
CJuly 12 (oilprice.com) ompanies are gearing up for exploration drilling in deepwater blocks offshore Uruguay in the hope that the South Atlantic margin offshore South America could hold a lot of oil, similar to the recent discoveries offshore Namibia in Africa. Uruguay, with a limited exploration drilling history of three wells spudded, all dry,... Continue Reading →
July 10 (oilnow.gy) Staatsolie Maatschappij Suriname N.V. has received the fourth proposal under its Open Acreage model, extending a run of offshore proposal activity as Suriname works to advance its oil production ambitions. The state oil company announced on July 7, 2026, that it received a proposal for an area in Sector 2: SHO EAST,... Continue Reading →
July 9 (Reuters) - Bolivia will launch technical talks next week with Brazil's state-run oil firm Petrobras on its possible return to exploration and production in the country, while the company is also willing to help restructure state energy firm YPFB, Energy Minister Marcelo Blanco said on Thursday. The government of President Rodrigo Paz is looking... Continue Reading →
July 9, 2026 – Petróleo Brasileiro S.A. – Petrobras, following up on the disclosure made on April 17, 2026, announces that it has concluded the acquisition of the interest in and operatorship for Block 3, located offshore São Tomé and Príncipe, in Africa. Upon completion of the transaction, the consortium is now composed of Petrobras... Continue Reading →
Brazil Energy Insight 