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Jan. 14 - The Tupi/Iracema field, located in the pre-salt layer of the Santos Basin, reached a production of 1 million barrels/day this Friday (January 9th), repeating the historic mark first achieved in 2019. This result aligns with Petrobras' new 2026-30 Business Plan, which foresees an increase in oil and gas production through the management... Continue Reading →
Jan. 13 (oilprice.com) Last year, upstream oil investment was projected to have declined 2.5% Y/Y to $420 billion after low oil prices put pressure on producers and slowed expansion plans. Companies across the industry continued to prioritize profitability, free cash flow, and debt reduction over aggressive production growth, a trend reinforced by macro uncertainty. The decline was... Continue Reading →
Jan. 2 (Reuters) - Peru issued an emergency decree late Wednesday approving the reorganization of state-owned oil firm Petroperu, allowing private investment in key company assets. The decree signed by Peru's President José Jerí says the company could be separated into one or more asset blocks, including the state-of-the-art Talara refinery that the company spent... Continue Reading →
Dec. 15 (TN) Last week, the Ministry of Mines and Energy (MME) and the Energy Research Company (EPE) released the Natural Gas Booklet of the Ten-Year Energy Expansion Plan 2035 (PDE 2035). The document projects a significant increase in national gas production, driven mainly by the pre-salt layer and new initiatives with offshore processing, such... Continue Reading →
Dec. 15 (OE) MISC and China Offshore Engineering & Technology Company have received the Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for their design of an ammonia floating production storage and offloading (FPSO). This innovative floater solution adapts proven onshore production technology for offshore operations, transforming unutilized hydrocarbon gas from nearby... Continue Reading →
Dec. 9 (Reuters) Shell is seeking a buyer for a 20% stake in its Brazilian oilfield cluster to help fund a multibillion-dollar offshore development, Bloomberg News reported on Tuesday, citing sources. Shell declined to comment on the report, when contacted by Reuters. Shell held a 50% stake in Gato do Mato, which is a deepwater project offshore Brazil, and... Continue Reading →
Dec 9 (Reuters) - Russia's Lukoil has until December 13 to negotiate the sale of the bulk of its international assets after the U.S. imposed sanctions on the company and rejected its initial buyer, Swiss commodity trader Gunvor. Lukoil's international assets, spanning upstream oil and gas projects, refining, and more than 2,000 filling stations across Europe, Central Asia, the Middle... Continue Reading →
Rio de Janeiro, November 11, 2025 – PRIO S.A. (“Company” or “PRIO”) (B3: PRIO3), in addition to the Material Fact disclosed on May 1st, 2025, informs its shareholders and the market in general that, after the fulfillment of the precedent conditions and the necessary approvals, the acquisition of 40% interest and operation of the Peregrino... Continue Reading →
Nov. 11 - The P-79 FPSO left the Hanwha Ocean shipyard, located in Geoje-Si, South Korea, heading to the Búzios field, in the pre-salt layer of the Santos Basin. The unit will be towed to the operating area with the crew on board, which should speed up the start of production. Arrival is scheduled for... Continue Reading →
Nov. 7 - Petrobras has obtained permission from the Brazilian environmental agency Ibama to expand the capacity of six oil production platforms by a total of 115,000 barrels per day (bpd), the company announced Thursday in a presentation published to the market. The impact of this expansion will contribute to an increase of 90,000 bpd... Continue Reading →
Brazil Energy Insight 