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(oilprice.com) At the recent gathering of BRICS nations in Brazil, the members’ joint statement contained an interesting assertion. BRICS leaders said that, while recognizing the need for an energy transition, they “acknowledge fossil fuels will still play an important role in the world’s energy mix, particularly for emerging markets and developing economies.” Luckily for BRICS members, they... Continue Reading →
(Reuters) U.S. oil producer Hess Corp has decided to withdraw from Suriname's offshore Block 59, the South American nation's state oil firm Staatsolie said on Tuesday, adding the block would now return to Staatsolie. "Hess has fulfilled its minimum work obligations and decided not to proceed to the next phase of the exploration period ending... Continue Reading →
(Reuters) - Argentina's VMOS signed a $2 billion loan to finance construction of the Vaca Muerta South pipeline project, the company said in a statement on Tuesday. Vaca Muerta, a vast unconventional oil reserve, is pivotal for Argentina to cut costly imports and bolster its economy. VMOS S.A., a partnership formed by state-run oil company... Continue Reading →
(offshore-energy.biz) Norwegian state-owned energy giant Equinor has hired Subsea Integration Alliance (SIA), a strategic alliance combining the strengths of SLB OneSubsea and Subsea7, to handle an assignment related to the next stage of its operated oil field off the coast of Brazil. Subsea7 has confirmed Subsea Integration Alliance’s new contract with Equinor, which puts SIA in... Continue Reading →
(Reuters) - Suriname's parliament backed Jennifer Simons as the South American country's first woman president on Sunday, setting the doctor and former parliamentary speaker on course to helm a nation on the cusp of a predicted oil boom. Surinamese lawmakers backed Simons as president six weeks after the ruling party and its top opposition nearly... Continue Reading →
(Reuters) Petronas will begin drilling on Sunday, the first of three wells in an exploration campaign aimed at finding additional oil reserves at its offshore Block 52 in Suriname, state company Staatsolie said in a release on Saturday. Petronas hired Noble Corp to drill the wells through the Noble Developer drilling platform, which arrived in... Continue Reading →
McDermott has been awarded a sizeable offshore transportation and installation contract by Brava Energia for the Papa-Terra field in the Campos Basin and the Atlanta field in Block BS-4 within the Santos Basin, both offshore Brazil. Under the contract scope, McDermott will execute the transportation and installation of flexible pipelines, umbilicals and associated subsea equipment... Continue Reading →
July 3, 2025 - PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), following best practices incorporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of June. Key: (1) In the Frade field, the gas compression system was fully repaired, and production was normalized. (2) In the Polvo and Tubarão Martelo cluster,... Continue Reading →
(Reuters) - An Exxon Mobil-led oil consortium has returned 2,534 square kilometers of the Stabroek Block in Guyana back to the government, the Ministry of Natural Resources said in a statement on Wednesday. The relinquishment is part of a contractual requirement for Exxon to enter the final phase of exploration of the Stabroek Block, which contains... Continue Reading →
BRAVA ENERGIA S.A. (“BRAVA” or “Company”) (B3: BRAV3), informs its investors and the market in general the preliminary and unaudited production data for the month of June 2025. Brava renewed its historical quarterly production record in 2Q25, reaching a daily average of 85.9 thousand boe, an increase of 21% when compared to 1Q25. This result... Continue Reading →
Brazil Energy Insight 