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Jan 29 (Reuters) - Exxon Mobil and Chevron executives may face more questions about their investment opportunities in Venezuela than their actual quarterly earnings when they hold calls with analysts on Friday. The U.S. capture and removal, opens new tab of Venezuelan President Nicolas Maduro earlier this month opened a possible - albeit arduous - path for Big Oil to access... Continue Reading →
Jan 9 (Reuters) - Exxon Mobil CEO Darren Woods said on Friday the U.S. oil major is ready to evaluate a potential return to Venezuela in what would be a stunning development after its assets in the South American country were nationalized nearly 20 years ago. Woods, however, said Venezuela was currently "uninvestable" and significant legal... Continue Reading →
Jan 3 (Reuters) - Venezuela is unlikely to see any meaningful boost to crude output for years even if U.S. oil majors do invest the billions of dollars in the country that President Donald Trump promised just hours following Nicolás Maduro's capture by U.S. forces. The South American country may have the world's largest estimated oil reserves,... Continue Reading →
Nov. 28 - The company's new strategic plan for the period between 2026 and 2030 reveals a paradigm shift in the search for new reserves. Although the pre-salt layer will continue to receive a significant amount of investment, the Equatorial Margin will receive the largest share of the state-owned company's resources over the next five... Continue Reading →
Sept. 29 (OE) Baker Hughes, an energy technology company, has secured a contract from Petrobras to supply up to 50 subsea tree systems and associated services to support offshore oil and gas production across multiple fields in Brazil. The modern subsea systems will enhance recovery in established fields including Albacora, Jubarte and Barracuda-Caratinga. They will... Continue Reading →
Sept. 24 (offshore-energy.biz) TechnipFMC has secured a contract defined as significant, meaning it is worth between $75 million and $250 million, with Brazilian oil & gas company Petrobras for the delivery of subsea production systems. Following a competitive tendering process, TechnipFMC has been selected to design, engineer, and manufacture subsea production systems to be deployed in an... Continue Reading →
The Brazilian oil and gas sector is expected to receive approximately R$17 billion in new onshore investments from the extension of contracts for 139 onshore oil and natural gas production fields originated in Round Zero. This figure was released by the National Petroleum Agency (ANP). The so-called Round Zero was held in 1998, following the... Continue Reading →
Sept 18 (Reuters) - Colombian state-run energy company Ecopetrol is set to exceed its 2025 goal of drilling 10 oil wells by between 20% and 40%, the company's vice president for hydrocarbons, Rafael Guzman, said on Thursday. The company drilled six wells in the first half of the year, two of which were successful, it has said. "I think... Continue Reading →
Brazil's oil production growth is primarily driven by massive investments from Petrobras in prolific pre-salt offshore oilfields, aiming for 5 million barrels per day by 2030. Argentina has become a leading South American oil producer, with significant growth stemming from the successful exploitation of the vast Vaca Muerta shale formation. Guyana's oil production is surging... Continue Reading →
Sept. 16 (OE) Perenco has started active field reactivation program for the Cherne and Bagre fields in Campos Basin, acquired from Petrobras earlier in 2025, helping meet the industry’s mature field challenges and unlocking in excess of 50 mmstb of reserves. The multi-dimensional, two-year, reactivation program was designed to be executed in three linked stages... Continue Reading →
Brazil Energy Insight 