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March 10 (Reuters) - Exxon Mobil is seeking to abandon its corporate registration in New Jersey and redomicile in Texas where its headquarters is located, the U.S. oil major said on Tuesday, in a move that could help bolster its defenses against activist shareholders and climate advocates. Exxon announced the proposal in a proxy filing. If the move is approved... Continue Reading →
March 9 (Reuters) Oil major Shell inked several oil agreements with the Venezuelan government that span offshore natural gas and onshore oil and gas opportunities, the company said in a statement. It also signed several technical and commercial agreements with Venezuelan engineering company VEPICA, as well as with KBR and U.S. oil services firm Baker... Continue Reading →
March 6 - Petrobras accelerated the pace of its investments last year. In total, the company spent US$20.3 billion in 2025, a 22.2% increase compared to the previous year. Furthermore, this is the company's highest investment level since 2019. The value was also 9.7% above the forecast in the company's 2025-2029 business plan, remaining within... Continue Reading →
March 6 (oilnow.gy) SBM Offshore said the Jaguar floating production, storage and offloading vessel project has reached several construction milestones as work continues toward a planned 2027 start-up offshore Guyana. “Following a safe and successful work program in the Seatrium dry-dock, FPSO Jaguar has been safely relocated and moored quayside for the integration phase,” SBM... Continue Reading →
March 4 (Reuters) - Brazilian sugar and ethanol producer Raizen said on Wednesday it is analysing a proposal for a Shell-led 4 billion real ($765 million) capital injection, while indicating that a solution to its debt crisis could be implemented in an out-of-court restructuring process. Raizen, a joint venture between Shell and Brazilian conglomerate Cosan, has been... Continue Reading →
March 4 (oilnow.gy) Rystad Energy said TotalEnergies’ GranMorgu development offshore Suriname will feature a 50,000 ton topside and gas-processing capacity of 500 million cubic feet per day (MMcf/d), underscoring the country’s emergence in the floating production, storage and offloading (FPSO) segment. In a February 19 report, Rystad Energy said, “TotalEnergies’ FPSO marks Suriname’s emergence in the FPSO... Continue Reading →
March 3 (Reuters) - The U.S.-Israeli conflict with Iran presents Brazil with an "enormous opportunity" to attract investments to develop its oil assets, Shell's CEO in the country told reporters on Tuesday. Brazil's geopolitical stability and track record as a reliable oil producer give it an advantage over other nations, Cristiano Pinto da Costa said, though... Continue Reading →
March 3 (Reuters) - London listed oil company Shell is committed to investing 3.5 billion reais ($667.84 million) in troubled sugar and ethanol maker Raizen, the energy company's Brazil CEO said on Tuesday. Raizen has reported a string of losses and soaring net debt in recent quarters amid costly investments and poor weather negatively impacting crops,... Continue Reading →
Feb. 28 (oilprice.com) Once one of South America’s poorest countries, Guyana is now ranked among the world’s richest because of the vast petroleum wealth contained in its territorial waters. A swath of major oil discoveries in the offshore Stabroek Block by operator ExxonMobil, with partners Chevron and CNOOC, saw Guyana emerge as a major oil producer and... Continue Reading →
Feb 28 (oilprice.com) Last year was an event-filled period for South America’s growing oil industry. The continent’s energy map is being rewritten by a few unexpected world-class oil booms, which makes the region a key source of non-OPEC production growth. There is also the potential for Venezuela to reemerge as a major petroleum producer after U.S.... Continue Reading →
Brazil Energy Insight 