Category: Exploration

Cade approves Petrobras’ entry into the Itaimbezinho block, reinforcing natural gas strategy in the Campos Basin

July 2 (cenarioenergia) - The Administrative Council for Economic Defense (Cade) has approved, without restrictions, Petrobras' entry into the Itaimbezinho exploration block, located offshore in the Campos Basin and contracted under the production-sharing regime. The transaction involves acquiring a 50% stake currently held by Equinor—a move that reinforces the Petrobras' strategy to expand its exploration... Continue Reading →

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Petronas Makes New Gas Discovery Offshore Suriname

June 24 (Reuters) Malaysia's state-controlled energy producer Petronas has made another gas discovery at offshore Block 52 in Suriname, the South American country's President Jennifer Simons said on Tuesday, while a company executive said the block's eight discoveries contain more than 1 billion barrels of oil equivalent. Suriname is seeking to follow neighbouring Guyana's transformation... Continue Reading →

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Petrobras signs Memorandum of Understanding with PEMEX

Rio de Janeiro, June 23, 2026 – Petróleo Brasileiro S.A. – Petrobras informs that it has signed a Memorandum of Understanding (MoU) with Petróleos Mexicanos (PEMEX), with the purpose of establishing strategic and technical cooperation for the assessment, development and joint execution of projects in the hydrocarbons industry, including the development of opportunities in the... Continue Reading →

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Equinor scraps renewable energy capacity target

June 16 (Reuters) - Norwegian oil and gas group ‌Equinor has further scaled back its renewable energy ambitions, dropping a 2030 installed capacity target and cutting plans for investment, it said in a strategy update on Tuesday. The change reflects a wider industry trend, with peers, including BP and Shell, ​in recent years scrapping ambitions to transition from... Continue Reading →

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Barbados could be sitting on 13 billion barrels of oil, rivaling Guyana’s Stabroek Block

June 15 (oilnow.gy) Barbados’ offshore acreage could hold more than 13 billion barrels of oil in place, based on seismic surveys and technical assessments, as the country advances direct negotiations for exploration licences across 19 offshore blocks.  The figure adds scale to the offshore push already being advanced by the Mia Mottley administration. Barbados is seeking... Continue Reading →

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