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Jan. 13 (oilprice.com) Last year, upstream oil investment was projected to have declined 2.5% Y/Y to $420 billion after low oil prices put pressure on producers and slowed expansion plans. Companies across the industry continued to prioritize profitability, free cash flow, and debt reduction over aggressive production growth, a trend reinforced by macro uncertainty. The decline was... Continue Reading →
Jan. 13 (OE) Energy services firm EnerMech has secured a subsea pre-commissioning services contract by Saipem for the Whiptail development, offshore Guyana in the Stabroek Block, operated by ExxonMobil Guyana. The contract award marks EnerMech’s first project on the Whiptail field and builds on its proven track record supporting subsea pre-commissioning campaigns offshore Guyana, including... Continue Reading →
Jan. 12 (OE) Navitas Petroleum has signed a non-binding agreement to farm into an offshore exploration license in the North Falklands Basin adjacent to its recently sanctioned Sea Lion oil development, as the operator advances plans to expand its footprint in the region. Eco (Atlantic) Oil & Gas said Navitas has entered into a non-binding... Continue Reading →
Jan. 7 (OE) Artificial intelligence (AI) contributed savings and value creation of about $130 million for Equinor and its partners in 2025, as the Norwegian firm expanded the use of AI across offshore platforms and onshore facilities. The company uses artificial intelligence to support industrial operations at scale, improving safety, efficiency and profitability, as it... Continue Reading →
Jan. 6 (oilnow.gy) Guyana is set to rank second among the world’s largest new oil field start-ups in 2026, with first production from the Uaru field expected to begin in July at nearly 136,000 barrels per day (b/d), according to S&P Global Energy CERA on January 5. “Eight of the world’s largest oil field developments... Continue Reading →
Jan. 6 (oilnow.gy) Guyana’s Minister of Natural Resources, Vickram Bharrat, has assured that offshore oil and gas exploration activities continue without a hitch. The assurance comes amid heightened geopolitical tensions in the region following the capture of Venezuelan President Nicolás Maduro by U.S. military forces over the weekend. Bharrat confirmed to OilNOW on January 4... Continue Reading →
January 5, 2026 - PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices incorporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of December. Key: (1) The figures refers to PRIO’s 80% stake in Peregrino, considering production throughout the month. As the closing of the acquisition of the additional... Continue Reading →
Jan. 6 (OE) Chinese multinational oilfield equipment and services provider Jereh Group has delivered slop treatment units and oil purifiers to CIMC Raffles for Petrobras’ P84 and P85 floating production storage and offloading (FPSO) units, bound for deployment at the Atapu and Sépia fields, off Brazil. The equipment will support slop water and oil separation... Continue Reading →
Jan. 5 - In November 2025, Brazil produced 4.921 million barrels of oil equivalent per day (boe/d) of oil and natural gas. The data was released today by the ANP in its Monthly Oil and Natural Gas Production Bulletin. Regarding oil, 3.773 million barrels per day (bbl/d) were extracted, a 6.4% decrease compared to the... Continue Reading →
Jan. 5 (Reuters) Brazilian state-run oil firm Petrobras expects to start production at its P-79 oil platform in the Santos Basin in the second quarter, director for engineering, technology and innovation Renata Baruzzi told Reuters on Friday. Petrobras had previously projected the start of production at the P-79 platform for August this year. The platform... Continue Reading →
Brazil Energy Insight 