Ecopetrol will beat its 2025 drilling target and may even best the output target, says executive
Rafael Guzman said that Colombian state energy company Ecopetrol will exceed its goal of drilling 10 oilwells in 2025 by 20% to 40%. It has been reported that the company drilled six successful wells during the first half of this year. Guzman said on the sidelines…
Lula: Brazil's environmental agency must be satisfied with Petrobras tests in offshore areas.
Brazil's president Luiz Inacio Lula Da Silva said that the environmental agency Ibama must be satisfied with results of a emergency drill conducted by the state-run oil company Petrobras within the Foz do Amazonas Basin. Petrobras already conducted the test.
Petrobras passes key test for Amazon exploration license
The Brazilian state-owned oil company Petrobras concluded an emergency drill on Wednesday in the Foz do Amazonas Basin, according to the company and Brazil’s environmental agency. This was one of the last steps required to secure the controversial exploration license for the mouth of Amazon river.
Petrobras begins emergency drill in Foz do Amazonas basin
Two sources familiar with the situation said on Monday that the Brazilian state-owned oil company Petrobras started an emergency drill on Sunday in the Foz do Amazonas area. Petrobras considers the so-called preoperative assessment as the final step in an environmental…
O Globo reports that Petrobras is considering investing in Raizen as a way to enter the ethanol market.
The Brazilian state-owned oil company Petrobras, according to local newspaper O Globo, is looking at investing in sugar and bioethanol producer Raizen, as a means of reentering the ethanol industry. Petrobras has previously stated that it is looking to return…
Petrobras Simulation for Foz do Amazonas Drilling License scheduled for late August
Ibama, the Brazilian environmental agency and Petrobras, the state-run oil firm in Brazil's Foz do Amazonas Region have planned a disaster simulation for the week beginning August 24. Pre-operational assessment is the final step before Ibama decides whether…
Colombia's Ecopetrol reports a 46% drop in profit as oil prices fall
Ecopetrol, Colombia's state-owned oil company, reported a 46% drop in its net profits for the second quarter 2025. This was due to lower oil prices globally, which impacted sales. Production also decreased. The company reported a net profit of 1.81 trillion pesos ($450 million) for the three-month period ending June…
Sources say that the CO2 levels are crucial to BP-Petrobras' partnership in Bumerangue Block.
Three sources from the Brazilian state oil company told us that a possible partnership between BP, Petrobras and the British firm to develop BP's oil-and-gas find in Brazil's Pre-salt Layer would depend on the carbon dioxide levels of the reservoir. BP's chief…
Equinor's auction prospects are boosted by BP's large Brazil oil and gas discovery
The announcement by BP on Monday that it had made its largest oil and gas find in 25 years off the coast of Brazil in Santos Basin bodes well both for Equinor and for their nearby interests. It also shows a strong appetite to auction oil blocks in October in this region.
Brazil's Grupo potencial invests $392 million into corn ethanol plant Parana state
The Vice President of Brazil, Carlos Eduardo Hammerschmidt, announced that Grupo Potencial would invest 2 billion Reais ($392.9m) in the construction of a corn-ethanol plant in Lapa (Parana State), as part a plan to create the largest biofuels facility on earth.
Brazil's lawmakers revoke environmental permits ahead of the COP30 summit
The Brazilian Congress passed legislation Thursday that loosens environmental licensing. This could be a blow to President Luiz inacio da Silva, who is trying to improve his country's image as a green nation before it hosts the United Nations' global climate summit COP30 this year.
Sierra Leone is West Africa's new oil and gas frontier
A senior government official announced on Thursday that Sierra Leone would wait to see the results of its recently launched offshore 3D seismic study, its first for over a decade. This will allow it to open its next round of oil and gas licenses later this year.
Sources say that Brazil's Petrobras has held off on raising fuel prices amid tensions with Iran.
Petrobras, the Brazilian oil company, is closely watching geopolitical tensions that have been driving up global oil prices in recent weeks. However, it does not intend to adjust domestic fuel prices at this time, according to two sources. Sources, who spoke…
Exxon, Chevron acquires blocks in Brazil's environmentally-sensitive Foz do Amazonas basin
Exxon Mobil and Chevron on Tuesday took their first steps toward eventually exploring oil in Brazil's Foz do Amazonas basin, scooping up offshore blocks auctioned by the country in the promising but environmentally-sensitive area. This is the first time that…
Petrobras CEO: Africa will be the main exploration region for Petrobras outside Brazil.
Petrobras wants to develop Africa as its primary region outside Brazil. The CEO of the state-run oil company said this in a broad interview on Thursday. Petrobras CEO Magda Chabriard said that Ivory Coast extended the "red-carpet" to Petrobras when it granted…
Petrobras has exclusive rights to explore offshore blocks in Ivory Coast
Petrobras, the state-owned oil company of Brazil, announced on Wednesday that it had won exclusive rights to negotiate for the purchase nine offshore exploration blocks in Ivory Coast. Petrobras stated in a filing that the government had conceded to the exclusive…
Wartsila believes flexibility is key to ethanol power generation in Brazil
Wartsila, a Finnish company, is betting on a more flexible way to generate electricity with ethanol in Brazil. Similar efforts by large firms failed a decade earlier. Wartsila announced in March a partnership with a power station in Recife in northeast Brazil…
Petrobras wins in Amazon drilling but licensing is in doubt
The Brazilian environmental agency Ibama announced a decision on Monday that will allow state-run Petrobras to move closer to drilling oil in a highly sought after offshore region. However, it also came with a warning for future permits. The documents seen…
Brazil's Petrobras to simulate emergency plan for Foz do Amazonas basin
The Brazilian Environmental Agency Ibama approved on Monday the state-run Petrobras concept for an emergency plan that would assist local fauna if there was an oil spillage in the Foz do Amazonas Basin. This move allows Petrobras a simulation of their plan.
Industry leaders claim that despite volatility, US Gulf oil production could reach 2.4 millions bpd.
Leaders in the oil and gas sector said that the U.S. Gulf of Mexico could continue to grow oil production despite geopolitical instability not seen for decades. Since last month, U.S. President Donald Trump’s global tariff announcements contributed to a drop in oil prices…