TotalEnergies’ GranMorgu project to feature 50,000 ton topside, 500 MMcf/d gas capacity

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 4, 2026 0

Shell sees ‘enormous opportunity’ for Brazil oil amid Middle East conflict

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, 2026 0

Shell committed to backstop Raizen with $668 million investment, Brazil CEO says

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 →

March 3, 2026 0

How United States Action in Venezuela Guaranteed Guyana’s Oil Future

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 →

February 28, 2026 0

The 2026 Outlook for South America’s Top 5 Oil Producers

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 →

February 28, 2026 0

South America Dominates Global FPSO Market With $181 Billion Deepwater Buildout

Feb. 27 (oilprice.com) South America is set to maintain its position as the most significant region for floating production, storage, and offloading (FPSO) vessels, with 36 projects awarded or expected to be awarded between 2021 and 2030, totaling field greenfield commitments worth around $181 billion. Among these 36 projects, 25 have disclosed FPSO costs ranging... Continue Reading →

February 27, 2026 0

SBM Offshore Beats Revenue Forecast

Feb. 26 (Reuters) Dutch offshore oil services company SBM Offshore announced a 57% annual surge in shareholder returns to a record $470 million (397.8 million euros) on Thursday and said it will return at least $2.1 billion to investors over six years. The Amsterdam-based floating production specialist said it would pay $2.57 per share through... Continue Reading →

February 26, 2026 0

Shell ready for bigger backstop of Brazil sugar-ethanol JV Raizen, sources say

Feb 25 (Reuters) - Oil major Shell, the healthier joint-venture partner in Brazilian sugar and ethanol producer Raizen, is ready to pour more resources into a recapitalization of the distressed company, three people familiar with the matter told Reuters. Raizen, a top global sugar maker, is in tough financial straits after posting a third-quarter net... Continue Reading →

February 25, 2026 0

ExxonMobil advances Goatfish-1 drilling in Southeast portion of Stabroek Block

Feb. 25 (oilnow.gy) ExxonMobil Guyana Limited on February 19, 2026 continued exploration drilling at the Goatfish-1 well site in the Stabroek Block, according to a notice issued by the Guyana Maritime Administration Department. The well is being drilled by the MODU Noble Sam Croft and operations are scheduled to conclude on March 31, 2026. The... Continue Reading →

February 25, 2026 0

Guyana’s reserves remain about 11 billion barrels, ministry says

Feb. 25 (oilnow.gy) The Ministry of Natural Resources late Tuesday said Guyana’s oil reserves remain at about 11 billion barrels, rejecting claims that updated figures were being withheld from the public. The statement responds to a February 24, 2026 article by Kaieteur News headlined, “ExxonMobil reports growth in oil reserves to shareholders.” The ministry said the... Continue Reading →

February 25, 2026 0

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Category: Oil Majors

TotalEnergies’ GranMorgu project to feature 50,000 ton topside, 500 MMcf/d gas capacity

Shell sees ‘enormous opportunity’ for Brazil oil amid Middle East conflict

Shell committed to backstop Raizen with $668 million investment, Brazil CEO says

How United States Action in Venezuela Guaranteed Guyana’s Oil Future

The 2026 Outlook for South America’s Top 5 Oil Producers

South America Dominates Global FPSO Market With $181 Billion Deepwater Buildout

SBM Offshore Beats Revenue Forecast

Shell ready for bigger backstop of Brazil sugar-ethanol JV Raizen, sources say

ExxonMobil advances Goatfish-1 drilling in Southeast portion of Stabroek Block

Guyana’s reserves remain about 11 billion barrels, ministry says

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