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April 9 (Reuters) A Brazilian federal court has issued an injunction exempting TotalEnergies, Repsol Sinopec, Galp's Petrogal, Shell and Equinor from a tax on crude oil exports, a court document seen by Reuters shows. The Tuesday decision says a 12% tax enacted about a month ago as oil prices spiked due to the U.S.-Israeli war... Continue Reading →
April 8 (Reuters) - Higher oil and gas prices due to the U.S.-Israeli war on Iran could boost Exxon Mobil's first-quarter upstream earnings by up to $2.9 billion, outweighing the impact of disruptions to some of its oil and gas production in the Middle East, the U.S. oil producer said on Wednesday. Downstream earnings, however, could see a... Continue Reading →
April 6 (oilprice.com) Oil price shocks since the U.S. and Israel first struck Iran, the world’s fifth-largest oil producer, have global markets on edge. The sudden energy crisis, which emerged after Iran closed the Strait of Hormuz, preventing the passage of around a fifth of the world’s oil supply, emphasizes the importance of petroleum production in... Continue Reading →
April 6 (Reuters) France announced tenders for seven offshore wind projects totalling 10 gigawatts on Thursday as well as smaller solar and onshore wind tenders, adding the country will favour homegrown technologies in its bid to achieve energy sovereignty. The tenders are two years late due to political gridlock over financing renewables as France struggles... Continue Reading →
April 6 (OE) Offshore drilling contractor Seadrill has secured a 1,095-day contract extension for the West Polaris drillship with Petrobras offshore Brazil, adding about $480 million to its backlog. The extension will see the ultra-deepwater drillship continue operations at the Búzios field in the Santos Basin, with the new term expected to begin in January... Continue Reading →
April 6 (OE) Offshore drilling firm Ventura Offshore has secured contract extensions for two offshore units operating in Brazil, adding more than $600 million in backlog. The company said the SSV Victoria semi-submersible rig was awarded a 1,455-day extension of its current contract with Petrobras, expected to contribute approximately $466 million in additional backlog. The... Continue Reading →
April 2 (Reuters) - Rising petrochemical prices have buoyed the long-term prospects for Brazil's Braskem, even as the company is racing against the clock to deal with looming interest payments on its debt. The petrochemical producer, with operations in Brazil, the U.S., and Mexico, is considering whether to seek an injunction to avoid a painful... Continue Reading →
April 2, 2026 – Petróleo Brasileiro S.A. – Petrobras following up on the announcement of December 1, 2025, informs that the financial settlements related to the first redetermination of the Tupi Shared Reservoir, located in the Santos Basin, have been completed. This follows the approval of the Fourth Addendum to the Production Individualization Agreement (AIP)... Continue Reading →
March 31 (Reuters) - Brazil's renewable energy sector is facing severe headwinds, with major power generators scaling back operations and cutting jobs due to generation restrictions that the national grid operator imposed on wind and solar plants in 2023, companies told Reuters. Atlas Renewable Energy, owned by Global Infrastructure Partners (GIP) under BlackRock, Newave Energia,... Continue Reading →
March 30 (OE) Iberdrola has awarded contracts to Siemens Energy and Prysmian, worth more than $4 billion (€3.5 billion), for the development of the Eastern Green Link 4 subsea electricity interconnector between Scotland and England. Under the agreements, Siemens Energy will supply two high-voltage direct current converter stations, while Prysmian will provide more than 640... Continue Reading →
Brazil Energy Insight 