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Nov. 13 (OE) ExxonMobil has made a final investment decision (FID) for the Longtail gas and condensate development offshore Guyana following government and regulatory approvals, with an additional investment of $12.5 billion planned and production targeted to start in 2030. Longtail will be the eighth development in the Stabroek block, targeting non-associated gas and condensate-rich... Continue Reading →
Nov. 12 - Brava Energia has begun drilling two new wells at the Atlanta Field, located in the Santos Basin. To carry out this campaign, the company has mobilized the Lone Star drilling rig to the Santos Basin, continuing its strategy of integrating its offshore operations. The rig was relocated following the completion of work... Continue Reading →
Nov. 12 (PN) Petrobras expects to add at least 520,000 barrels of oil per day to its production capacity by expanding the capacity of its existing FPSOs. According to the company’s CEO, Magda Chambriard, this strategy will allow for the acceleration of additional production by four years, while also avoiding an estimated $10 billion to... Continue Reading →
Nov. 12 (Reuters) BP is in talks with Petrobras to sell a stake in its Bumerangue oil block off the coast of Brazil, Bloomberg News reported on Thursday, citing people familiar with the matter. Reuters could not independently verify the report. BP and Petrobras did not immediately respond to Reuters' requests for comment. Here are... Continue Reading →
Nov. 11 (Reuters) Dutch floating production specialist SBM Offshore on Thursday raised its full-year revenue and core profit guidance for the third time this year, citing a strong year-to-date performance driven by its turnkey unit. The company lifted its directional revenue outlook for the year to about $7.9 billion from $7.6 billion, and said it... Continue Reading →
Nov. 11 (oilnow.gy) Japan’s MODEC earned more construction revenue from ExxonMobil’s Hammerhead project offshore Guyana in the first nine months of 2026, the company said in its November 10 investor presentation. Group revenue rose 10.1% to US$3.69 billion, while profit attributable to shareholders increased 24.8% to US$306.5 million. MODEC said revenue from Hammerhead and Shell’s... Continue Reading →
Nov 10 (Reuters) - Venezuelan lawmakers approved a reform on Tuesday to the country's electricity law, opening the unreliable power sector to private investment after nearly two decades of state control. The reform is the latest pushed by interim President Delcy Rodriguez, who wants to foster private investment in oil, gas and mining following the... Continue Reading →
Nov. 10 - In a quarter marked by strong operational performance, with record results in the E&P, Refining and Marketing segments, Petrobras reported net income of BRL 39.8 billion (US$ 7.7 billion) in the third quarter of 2024. Excluding one-off items in the quarter, net income reached BRL 47.9 billion (US$ 9.3 billion), representing a... Continue Reading →
Nov. 10 - Petrobras announces that it has raised its 2026 production projections. The estimate for total oil and gas production attributable to Petrobras has increased from 3.1 million boed to a range of 3.3 million to 3.4 million boed. The projection for oil and NGL production has increased from 2.5 million bpd to a... Continue Reading →
Nov. 10 (Reuters) ExxonMobil said on Monday it signed a memorandum of understanding with Venezuelan state oil company PDVSA to assess upstream oil opportunities, marking a potential return to the country nearly two decades after its assets were expropriated. The agreement is non-binding and does not commit Exxon to any specific project. "This memorandum is... Continue Reading →
