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Feb 11 (Reuters) - TotalEnergies will halve share buybacks in the first quarter, it said on Wednesday, as low oil and gas prices negated soaring fourth-quarter profit from refining fuels and proceeds from renewable assets stake sales. The French oil major's fourth-quarter adjusted net income fell to $3.8 billion (3.2 billion euros) from $4.4 billion a... Continue Reading →
Feb 9 (Reuters) - Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of oil equivalent per day by 2035 due to maturing fields unable to meet its output targets, the company and analysts say. For years, oil majors have been restrained in topping up reserves,... Continue Reading →
Feb 8 (Reuters) - Namibia will not recognise the purchase of offshore stakes in the Luderitz Basin announced last week by TotalEnergies and Petrobras until the oil companies follow the proper route for approval, government officials said on Sunday. Jonas Mbambo, a spokesperson for the presidency, confirmed that until a formal application is submitted and the prescribed... Continue Reading →
Feb. 6 (OE) BW Energy has informed that one of the existing joint venture partners in Angola's offshore blocks 14 and 14K has indicated its intention to exercise pre-emption rights in relation to the previously announced acquisition agreement. BW Energy and its partner Maurel & Prom had been notified of the move by a joint... Continue Reading →
Feb 5 (Reuters) - Shell missed fourth-quarter profit expectations on Thursday with an 11% drop to the lowest level since early 2021 amid weaker oil prices, but kept its bumper share buyback programme. Shareholders of oil majors have become used to huge buybacks, but lower oil and gas prices ahead of an expected crude and liquefied... Continue Reading →
Feb. 4 - SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO ONE GUYANA, ahead of the maximum lease term which would have expired in August 2027. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to... Continue Reading →
Feb 4 (Reuters) - Chevron and TotalEnergies are among the oil majors snapping up offshore blocks in West and Southern Africa as compelling geology, regulatory reforms, and the need to restock spur a hunt for the next Brazil. Companies are restocking their oil and gas assets given prospects for fossil fuel demand to stay higher for longer than predicted just a... Continue Reading →
Feb. 3 (TN) Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, has signed an agreement to sell a 20% stake in the Orca Project to Kuwait Foreign Petroleum Exploration Company (KUFPEC). Orca is a deepwater project in the pre-salt area of the Santos Basin. After the transaction is completed, Shell will remain... Continue Reading →
Feb. 2 (oilnow.gy) Guyana has allocated GY$10.7 billion in its 2026 budget to advance three clean energy initiatives: the Gas-to-Energy project, further gas-based power development, and the resuscitation of the Amaila Falls Hydropower Project. The allocation was outlined by Minister of Finance, Dr. Ashni Singh, during the presentation of Budget 2026 this week. Dr. Singh said the... Continue Reading →
Jan 30 (Reuters) - U.S. oil majors Exxon Mobil and Chevron offered investors a few pieces of new insight into their thinking about Venezuela on Friday, even though neither company announced long-term investment commitments despite President Donald Trump's continued push to convince American oil firms to rebuild the South American country's energy sector. Exxon CEO Darren Woods plugged... Continue Reading →
Brazil Energy Insight 