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July 30 (Reuters) Shell's net profit more than doubled from last year to $9.84 billion in the second quarter, beating expectations, helped by higher energy prices and increased market volatility during the Middle East conflict. Higher oil and gas prices, stronger liquefied natural gas (LNG) and oil trading and improved chemicals margins helped support the... Continue Reading →
July 29 (oilnow.gy) Subsea installation activities have started for ExxonMobil Guyana’s Whiptail development in the Stabroek Block, ahead of the arrival and installation of the Jaguar floating production, storage and offloading (FPSO) vessel being constructed by SBM Offshore. ExxonMobil confirmed to OilNOW on July 28 that the ongoing offshore installation activities are related to the project’s subsea umbilicals,... Continue Reading →
July 29 (Reuters) - The Paraguana Refining Center in Western Venezuela once symbolized the country's oil wealth and its ambition to turn vast crude reserves into fuels and export revenue. Today, the 955,000-barrel-per-day complex in Falcon state runs at a fraction of capacity, a decline decades in the making and unrelated to the strong earthquakes... Continue Reading →
July 28 (OE) Talos Energy has agreed to acquire a 50% working interest in Block 29 offshore Mexico from Repsol, expanding its international portfolio with a pre-final investment decision oil development that includes more than 200 million barrels of oil equivalent of estimated recoverable resources. Under the agreement, Talos will pay $30 million if it... Continue Reading →
July 28 (splash247) Offshore driller Noble posted a $37m net loss for the second quarter of 2026 after operational suspensions affecting two rigs in Brazil weighed on revenue and utilisation. The quarterly loss compared with net income of $121m in the first quarter. Contract drilling services revenue fell to $679m from $743m in the previous... Continue Reading →
July 28 (Reuters) - Saipem cut its 2026 core earnings forecast on Tuesday, sending shares in the Italian oilfield services group down more than 8% as disruption linked to the Gulf conflict drove up costs and created logistical challenges. The Milan-based group now expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €1.75 billion... Continue Reading →
July 27 (oilnow.gy) Guyana’s crude has earned a reputation for being light and sweet, making it attractive to refiners because it is easier and less expensive to process into products such as gasoline, diesel and jet fuel. Increasingly, however, another quality is helping distinguish the country’s barrels in global markets: their relatively low carbon intensity. As... Continue Reading →
July 27 (oilnow.gy) Global oil and gas majors are expanding their exploration portfolios, but most new agreements are focused on securing future opportunities rather than committing to immediate drilling activity, according to an analysis by Westwood Global Energy Group. The analysis, published on July 21, examined exploration agreements secured by the supermajor group, including bp,... Continue Reading →
July 27 (Reuters) Portuguese energy company Galp Energia posted a 45% jump in second-quarter adjusted net profit on Monday, boosted by higher oil output in Brazil and stronger crude prices and refining margins brought on by Iran war supply disruptions. The company raised its earnings guidance for the year, and it said the board of... Continue Reading →
July 26 (oilprice.com) Argentina’s massive shale oil and gas boom is going from strength to strength. The economically crisis-prone South American country yet again reported record monthly oil and natural gas production for May 2026. This couldn’t come at a better time for Argentina and South America. Rising global geopolitical risks, notably due to war in the Middle... Continue Reading →
Brazil Energy Insight 