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Aug 17 (Reuters) - Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its push to increase production in sub-Saharan Africa through infrastructure-led exploration. Western and southern Africa are among regions drawing fresh attention as growth in U.S. shale tops out. Angola, sub-Saharan... Continue Reading →
Rio de Janeiro, August 14th, 2026 – Petróleo Brasileiro S.A. – Petrobras has identified the presence of hydrocarbons in an exploratory well currently being drilled in Block FZA-M-59, located in deep waters offshore Amapá, within the Foz do Amazonas Basin in Brazil's Equatorial Margin. The Morpho well (1-BRSA-1405-APS) is located approximately 175 km off the... Continue Reading →
Aug 14 (Reuters) - South Africa's Constitutional Court on Friday blocked offshore exploration led by Shell along the country's pristine Wild Coast, a setback for the oil major after years of legal challenges by local communities and environmentalists. The ruling is the latest outcome in a series of court cases that have dampened investor appetite and delayed... Continue Reading →
Aug. 14 (oilnow.gy) ExxonMobil is expected to provide results from its seismic work on the ultra-deepwater Block TTUD-1 by the end of August 2026, Trinidad and Tobago Prime Minister Kamla Persad-Bissessar said. The company has been conducting a 3D seismic survey across approximately 6,000 square kilometers of the block, located off the country’s east coast. The data will... Continue Reading →
Aug 13 (Reuters) - BP, in partnership with United Arab Emirates' firm XRG and a unit of Qatar's conglomerate UCC Holding, has secured a license to explore and develop the second phase of Venezuela's offshore Loran gas field, the British company and government officials said on Thursday. The agreement, signed in Caracas and broadcast on... Continue Reading →
Aug. 13 (oilprice.com) Over the past couple of years, Colombia’s clean energy transition has shifted into overdrive under President Gustavo Petro’s "Just Energy Transition" agenda, with the country pivoting away from fossil fuels towards wind and solar energy. Petro, Colombia’s first ever left-wing president, instituted a strict ban on signing new oil, gas and coal exploration contracts... Continue Reading →
Aug. 11 (Reuters) Nigerian President Bola Tinubu approved a new regulatory and fiscal framework for offshore oil and gas projects, his office said on Tuesday, a move the government says could attract up to $50 billion in investment and revive long-delayed developments. Nigeria has struggled in recent years to attract new upstream oil investment amid... Continue Reading →
Aug. 11 (oilnow.gy) Two major offshore oil stories have unfolded on opposite sides of the Guyana-Suriname Basin, but the distance between discovery and production has been very different. Guyana went from the Liza discovery in May 2015 to first oil in December 2019, less than five years later. Its first final investment decision (FID) came in... Continue Reading →
Aug. 10 (offshore-energy.biz) Italian energy giant Eni has struck a deal with Texas-headquartered oil and gas company APA Corporation to acquire a stake in a block off the coast of Uruguay. APA has signed an agreement with Eni, enabling the Italian firm to become a strategic partner in Block 6 offshore Uruguay. As a result, the U.S.... Continue Reading →
Aug. 7 (oilprice.com) BP’s Bumerangue discovery is more than another giant Brazilian oil find: it could become the project that keeps both BP’s upstream portfolio and Brazil’s production boom alive well into the 2030s. With an estimated 2.5 billion barrels potentially recoverable and peak output that could reach 600,000 b/d, the ultra-deepwater development is large enough to... Continue Reading →
