Brought to you by Quest Offshore & Southern Cone Consultants
March 24 - SBM Offshore is pleased to announce it has been awarded contracts by ExxonMobil Guyana Limited, an affiliate of Exxon Mobil Corporation, to perform Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading vessel (FPSO) for the Longtail development project in Guyana. The FEED contracts award triggers the... Continue Reading →
March 23 (Reuters) - Chevron is seeing progress in Venezuela as its oil production in the OPEC country rises, but more work is needed to change key energy legislation and secure conditions for investment, CEO Mike Wirth said on Monday. "There's still things that need to happen to encourage investment at the scale that people... Continue Reading →
March 23 (oilnow.gy) Guyana will remain a net carbon sink through 2030 even as it expands oil production with multiple offshore projects, according to an environmental impact assessment (EIA) for ExxonMobil’s proposed Longtail development. The assessment, prepared by ExxonMobil consultant Acorn International, found that cumulative greenhouse gas emissions from existing activities, the Longtail project and associated... Continue Reading →
March 23 (oilnow.gy) ExxonMobil Guyana plans to boost production at its Yellowtail offshore oil project by roughly 10% as it conducts a new optimization study, company President Alistair Routledge said on March 19. Yellowtail, which started production in August 2025, reached its initial target production of 250,000 barrels per day (b/d) by November. ExxonMobil has since... Continue Reading →
March 19 - IBAMA (Brazilian Institute of Environment and Renewable Natural Resources) issued a correction to the drilling license for block BM-C-33 in the Campos Basin, where the Raia field is located. In the document, the federal agency authorized the drilling of three wells in the area using the DS-17 drillship, operated by Valaris. IBAMA... Continue Reading →
March 18 - Maha Capital, a Stockholm-listed oil company controlled by the Brazilian asset manager Starboard, exercised its right to acquire a 24% stake in a Venezuelan oil field following the easing of sanctions by the United States. The decision came after the US Treasury Department authorized transactions with the state-owned PDVSA this week, paving... Continue Reading →
March 19 (Reuters) - Brazilian oil regulator ANP will tell state-run oil firm Petrobras to supply the diesel and gasoline volumes that the company would have auctioned this week in deals later canceled, it said on Thursday. This comes within a package of measures to monitor fuel stocks and imports and prevent possible supply problems, the... Continue Reading →
March 19 - Petrobras announces that it has contracted eight power plants from its thermoelectric energy portfolio in the 2026 Capacity Reserve Auction (LRCAP 2026), held today by Brazil’s National Electric Energy Agency (ANEEL) and the Electric Energy Trading Chamber (CCEE), with technical support from the Energy Research Company (EPE). The auction aimed to contract firm capacity for the National... Continue Reading →
The Brazilian Federal Court of Accounts (TCU) conducted an audit to analyze how Petrobras contracts and operates FPSOs. These vessels are used to process oil and gas at sea, store it, and then transfer it to other ships. They are important for Petrobras because they are more flexible and faster to install than stationary exploration... Continue Reading →
March 18 (Reuters) - Brazil's Finance Ministry on Wednesday proposed that states scrap the ICMS state tax on diesel imports, with the federal government covering part of the resulting revenue losses. Speaking to reporters, Finance Ministry Executive Secretary Dario Durigan said the proposal would imply a revenue loss of about 3 billion reais ($576.89 million)... Continue Reading →
Brazil Energy Insight 