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April 30 (Reuters) - Brazil's Petrobras has cut to zero its oil exports to the U.S., as the conflict in Iran reshaped oil flows across the world and China became the destination for around 62% of the state-run oil firm's crude sent abroad in the first quarter. Petrobras exported about 1.12 million barrels per day of... Continue Reading →
May 1 (Reuters) Exxon Mobil beat estimates for quarterly adjusted earnings on Friday, helped by higher output in Guyana and the Permian Basin, though unadjusted profit dropped to its lowest level in five years due to disruptions from the Iran war that could hit production further in the current quarter. Adjusted earnings for the first... Continue Reading →
April 30 - Petrobras' average production of oil, natural gas liquids (NGL), and natural gas in the first quarter of 2026 reached a record 3.23 million barrels of oil equivalent per day (MMboed). This figure is 3.7% higher than the fourth quarter of 2025 and 16.1% higher than the first quarter of last year, mainly... Continue Reading →
April 30 (Reuters) - Mexico's Pemex reported a 45.99 billion peso ($2.6 billion) quarterly loss, as the state energy company failed to profit from a global oil price surge triggered by international conflict. The United States' war with Iran has lifted crude oil prices worldwide to a four-year high. Pemex is constrained by high debt, and has... Continue Reading →
April 29 (OE) Italy’s Eni has signed an agreement with Venezuela’s Ministry of Hydrocarbons and state oil company PDVSA to relaunch oil activities at the Junin-5 project in the Orinoco Belt. The agreement was signed following a meeting in Caracas between Eni Chief Executive Claudio Descalzi and Acting President Delcy Rodriguez. Junin-5 is a heavy... Continue Reading →
April 27, 2026 – Petróleo Brasileiro S.A. – Petrobras announces that it has entered into an agreement to acquire 100% of a portion of the ring-fence of the Argonauta Field (BC-10 Concession) in the Campos Basin, currently held by Shell (Shell Brasil Petróleo Ltda.), ONGC (ONGC Campos Ltda.), and Brava (Enauta Petróleo e Gás Ltda.).The... Continue Reading →
April 27 (Reuters) - Oilfield service companies that for years kept rigs and specialized equipment stored in Venezuela have begun removing them from warehouses for assembly and repair as the government advances a review of oil and gas contracts that could lead to fresh activity, four sources involved in the preparations said. Since a sweeping reform of... Continue Reading →
April 27 (Reuters) - Portugal's Galp was upbeat about its 2026 performance on Monday after reporting a 41% rise in first-quarter adjusted core profit, as higher Brazilian output and stronger crude oil prices shielded it from Middle East supply disruptions. Galp shares were up 2% in morning trading after it reported adjusted earnings before interest, tax,... Continue Reading →
April 23 (OE) Deepwater production continues to remain a core part of the long-term energy supply mix. While production from conventional onshore and shallow-water assets is expected to remain broadly flat under our base case, Welligence estimates that global deepwater oil production will grow from its current level of around 8 million bbl/d to close... Continue Reading →
April 23 (OE) With one year since the last AHTS report, we have now started to see the effects of a tightening supply-demand balance as earlier predicted, which has translated into a significant uptick in the North Sea spot market especially. The total global AHTS fleet totals just south of 1,700 vessels, of which roughly... Continue Reading →
Brazil Energy Insight 