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July 23 (Reuters) - Spanish energy group Repsol expects refining margins to stay high next year as geopolitical tensions around the Gulf region and Russia persist, it said on Thursday, after reporting that its second-quarter profit tripled on stronger margins and oil prices. Supply constraints linked to intermittent disruptions in the Strait of Hormuz and Ukrainian... Continue Reading →
July 23 (oilprice.com) TotalEnergies’ adjusted net income jumped by 68% from a year earlier to $6 billion for the second quarter of 2026 as the jump in oil prices and refining margins boosted earnings and cash flows. The French supermajor on Thursday reported an adjusted net income of $6 billion, which met analyst expectations and rose by... Continue Reading →
July 22 (oilprice.com) Since Middle East hostilities reignited, oil prices have soared higher, although they remain below the highs witnessed during April 2026. This can be blamed on U.S. strikes against Iran, with Tehran and Washington disrupting traffic in the Strait of Hormuz, through which a fifth of global hydrocarbon supplies are shipped. This has sparked greater demand for Brazil’s... Continue Reading →
July 21 (oinow.gy) Guyana is approaching oil production of one million barrels per day (b/d), less than seven years after the country produced its first commercial crude from the ExxonMobil-operated Stabroek Block. Production from four offshore projects averaged 903,000 b/d in April 2026, according to government data reviewed by OilNOW. The Uaru project, expected to begin... Continue Reading →
July 17 (Reuters) - U.S. energy firms this week added rigs for a fifth week in a row for the first time since early June, boosting the total count to its highest since April 2025, energy services firm Baker Hughes said in its closely followed report on Friday. The total rig count, an early indicator of... Continue Reading →
July 14 - Karoon Energy announced the resumption of production from the PRA-2 well at the Baúna field following an intervention that restored the umbilical connection and power supply to the electric submersible pump (ESP). Consequently, total field production has reached approximately 22,000 barrels per day, including a contribution of around 8,600 barrels per day... Continue Reading →
July 13 (oilnow.gy) PRIO’s Wahoo project offshore Brazil has reached first oil using TechnipFMC’s Subsea 2.0® production system. TechnipFMC announced on July 13 via a LinkedIn post that the installation represents the first use of the technology in a Brazilian pre-salt field. “As a greenfield development enabled through a tie-back approach, Wahoo demonstrates how innovation can unlock... Continue Reading →
July 8 (PN) Karoon Energy recorded an increase in production at the Baúna field, in the Santos Basin, following the completion of an intervention on well SPS-92, which resumed operations after the replacement of its electric submersible pump (ESP). The well's output reached 8,600 barrels of oil equivalent per day (boe/d), raising the field's total... Continue Reading →
July 8 (PN) After several postponements, Petrobras is expected to stick to the deadline for opening bid envelopes for the FPSO that will operate in the Albacora field revitalization project in the Campos Basin. The tender process, originally launched in March 2025, has faced several delays along the way. The current deadline for submitting proposals... Continue Reading →
July 7 (Reuters) - Brazilian state-run oil firm Petrobras (PETR3.SA), opens new tab signed an agreement with regulator ANP committing to bring 335 temporarily abandoned offshore wells into compliance with safety and environmental rules, both parties said in separate statements on Tuesday. Under the signed agreement, Petrobras will pay 300 million reais ($58.3 million) to ANP, and... Continue Reading →
Brazil Energy Insight 