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March 3 (oilprice.com) South America’s largest economy, Brazil, is on track to be a top 5 global oil producer. During 2023, Brazil received an offer to join the OPEC+ price cartel, but it took until early 2025 for the government in the capital Brasilia to accept membership. This signaled a significant change in government strategy, with... Continue Reading →
March 2 - In January 2026, Brazil produced 5.168 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, 3.953 million barrels per day (bbl/d) were extracted, a decrease of 1.5% compared to... 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 →
Feb. 25 (Reuters) Italian oil contractor Saipem is ready to resume activities in Venezuela for both offshore and onshore projects after the easing of U.S. sanctions, Chief Executive Alessandro Puliti said on Wednesday. "Things in Venezuela are changing very quickly. It's a country where we worked a lot in the past, and we are ready... Continue Reading →
Feb 24 (Reuters) - Argentina's shale oil resource could be similar in size to that of the Permian Basin, the top oilfield in the U.S., Continental Resources CEO Doug Lawler said on Tuesday. Argentina's projections show that oil output could reach 1.5 million to 2 million barrels per day in the next few years, but... Continue Reading →
Feb. 19 (offshoreWIND.biz) The US Department of Justice, Environment & Natural Resources Division, filed a Notice of Appeal on 17 February in the case in which a federal judge ruled in favour of 18 states that sued the Trump administration over the sweeping ban on wind energy projects. In May 2025, seventeen US states and the District... Continue Reading →
Feb 19 (Reuters) - In September, a rig used to drill wells in shallow waters completed the long trip from China to Venezuela's oil-producing region of Lake Maracaibo. The passage of the big old rig named Alula just inches below the bridge connecting Maracaibo city with the oilfields of the lake's eastern coast stirred excitement... Continue Reading →
Feb. 18 (oilprice.com) Guyana’s sights are set much higher than just being the new oil darling of the Western hemisphere. It wants to be the gas darling too. That’s the frame coming out of Georgetown as Guyana lines up a second gas pipeline project, even before the first one is fully online. President Irfaan Ali... Continue Reading →
Feb. 14 (oilprice.com) The massive unconventional oil boom underway in Argentina continues to gain momentum. During late 2024, Argentina, which is South America’s second largest economy after Brazil, overtook Colombia to become the continent’s fourth largest oil producer. The surge in petroleum revenues, coupled with President Javier Mieli’s economic reforms, is a boon for one of the... 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 →
Brazil Energy Insight 