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Feb. 11 (Reuters) The U.S. Treasury Department on Tuesday issued a general license to facilitate the exploration and production of oil and gas in Venezuela, a long-awaited step that could help increase output in the country. Washington has relaxed sanctions on Venezuela's energy industry since U.S. forces captured President Nicolas Maduro in early January. It... Continue Reading →
Feb 10 (Reuters) - Equinor's international oil and gas portfolio will return to growth in the next few years as the Norwegian energy group targets sharply increased output abroad by 2030, its head of foreign operations told Reuters. After recent divestment of onshore assets in Argentina, Equinor now produces oil and gas in seven countries outside Norway, down... Continue Reading →
Feb. 10 (Reuters) BP posted quarterly profit in line with analyst expectations on Tuesday and suspended its share buyback programme as it wrote down around $4 billion in its renewables and biogas businesses. BP, whose new CEO Meg O'Neill will start in April, said it would allocate the excess cash to invest in oil and... Continue Reading →
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 →
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 →
Feb 4 (Reuters) - Chevron and TotalEnergies are among the oil majors snapping up offshore blocks in West and Southern Africa as compelling geology, regulatory reforms, and the need to restock spur a hunt for the next Brazil. Companies are restocking their oil and gas assets given prospects for fossil fuel demand to stay higher for longer than predicted just a... Continue Reading →
Feb. 3 (oilnow.gy) Data collected from new 3D marine seismic surveys across deepwater offshore blocks left unawarded or unresolved in Guyana’s first oil and gas auction will soon play a key role in establishing the country’s first Petroleum Data Repository. The Guyana government first signalled plans to operate a petroleum data repository in 2023, citing concerns that... Continue Reading →
Jan. 30 (oilnow.gy) ExxonMobil Guyana Limited continued exploration drilling at the Barreleye-3 well site on January 27, 2026, as it advances appraisal work in Guyana’s Stabroek Block. The operation is being carried out by the mobile offshore drilling unit Noble Don Taylor. Drilling is scheduled to conclude on February 8, 2026. The Barreleye-3 site lies... Continue Reading →
Jan 30 (OE) Equinor has exercised a one-year priced option for Seadrill’s ultra-deepwater drillship West Saturn for operations offshore Brazil. The exercised option adds $114 million to contract backlog and extends the original contract, which started in 2022, through October 2027. West Saturn is a seventh-generation drill ship, adapted for water depths up to 3,600... Continue Reading →
Jan. 29 (Reuters) French Finance Minister Roland Lescure called a draft law proposing to allow offshore oil and gas exploration in its overseas territories "anachronistic" during a debate in the country's Senate on Thursday. In a world first, France banned new oil and gas exploration and production licenses in 2017, hoping other nations would follow suit. But energy security... Continue Reading →
Brazil Energy Insight 