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Aug.9 (oilnow.gy) Guyana is set to receive a larger share of the oil produced from the Stabroek Block after ExxonMobil and its co-venturers recovered about US$55 billion in investment and a substantial amount of operating costs. To understand why, it is important to understand how cost recovery works. ExxonMobil, Hess (owned by Chevron) and CNOOC... Continue Reading →
Aug. 7 (offshoreWIND.biz) RWE and the US Department of the Interior (DOI) have reached a settlement agreement under which RWE will relinquish its offshore wind leases in the New York Bight and off the coasts of California and Louisiana in exchange for USD 1.22 billion (around EUR 1.06 billion) in settlement funds. The agreement resolves... Continue Reading →
Aug. 7 (PN) The Special Bidding Commission (CEL) of the National Agency of Petroleum, Natural Gas and Biofuels (ANP) announced the sectors and blocks that will be part of the 6th Permanent Offer Concession Cycle (OPC6) and the 4th Permanent Offer Production Sharing Cycle (OPP4), with public sessions scheduled for October 7, 2026 In the... Continue Reading →
Aug. 7 (oilprice.com) BP’s Bumerangue discovery is more than another giant Brazilian oil find: it could become the project that keeps both BP’s upstream portfolio and Brazil’s production boom alive well into the 2030s. With an estimated 2.5 billion barrels potentially recoverable and peak output that could reach 600,000 b/d, the ultra-deepwater development is large enough to... Continue Reading →
Aug 7 - BRAVA ENERGIA S.A. (“Brava” or the “Company”) (B3: BRAV3), in compliance with the provisions of CVM Resolution No. 44, hereby informs its shareholders and the market in general that it has entered into a new agreement for the purchase and sale of crude oil produced by PetroReconcavo S.A. (“PetroReconcavo”) in the Potiguar... Continue Reading →
Aug. 6 (Reuters) Angola's state-owned oil company Sonangol and concessionaire ANPG said on Thursday that the Katambi-2 offshore appraisal well crossed two productive intervals and confirmed good quality reservoirs. Initial tests recorded a stabilised production rate of 41 million standard cubic feet (MMscfd) of gas and 1,160 barrels a day (bpd) of condensate in the... Continue Reading →
Aug. 5 - BRAVA ENERGIA S.A. (“Brava” or the “Company”) (B3: BRAV3), pursuant to Article 157, Paragraph 4, of Law No. 6,404, dated December 15, 1976, as amended, and CVM Resolution No. 44, dated August 23, 2021, and further to the Material Facts disclosed on April 23, 2026, May 25, 2026, June 15, 2026, and July... Continue Reading →
Aug 4 (Reuters) - Brazil's Petrobras is reassessing a major natural gas infrastructure investment in Brazil amid regulatory uncertainty surrounding a proposed government program that could also impact a project by Norway's Equino, sources told Reuters. The proposal led Petrobras to halt studies for a planned $1 billion gas pipeline linked to its deep waters project... Continue Reading →
Aug. 4 (oilnow.gy) The Stena Carron is carrying out exploration drilling at the Rockhead-1 prospect in Guyana’s Stabroek Block. According to a recent notice from the Maritime Administration Department (MARAD), drilling activities will conclude on August 31. “The Rockhead-1 is situated approximately 115.2 nautical miles (213.4 kilometers) off the Coast of Guyana and covers an... Continue Reading →
Aug. 3 (oilprice.com) Middle East turmoil, centered on the U.S. war with Iran, is playing havoc with world energy markets. An ongoing dispute over access to the Strait of Hormuz, through which a fifth of world oil and natural gas supply is shipped, is causing prices to surge. This is a boon for South America's oil industry,... Continue Reading →
