Ecopetrol has completed its approximately $1.2 billion acquisition of a controlling 51% stake in Brava Energia, significantly expanding the Colombian energy company’s upstream position in Brazil. The transaction closed following receipt of required regulatory approvals and combines shares acquired through a voluntary tender offer with shares purchased under an April agreement with existing Brava shareholders. Ecopetrol acquired approximately 25% of […]
Petrobras has identified hydrocarbons in a deepwater exploratory well off the coast of Amapá in northern Brazil, the company announced on Friday.
Shell reported second-quarter adjusted earnings of $9.8 billion, up from $6.9 billion in the first quarter, as stronger upstream performance, higher realized oil and gas prices and record production in Brazil offset operational disruptions in the Middle East. The company generated $21.4 billion in cash flow from operations (CFFO) during the quarter, supported by higher commodity prices […]
Proserv has established a local operating presence in Brazil as the controls technology company expands its support for one of the world’s largest offshore oil and gas markets.
Repsol reported stronger first-half upstream earnings as oil and gas production climbed to its highest level in two years, supported by new production from Alaska’s Pikka development and continued progress across its global exploration and production portfolio.
Oceaneering International has been awarded a four-year contract by Petrobras to provide remotely operated vehicle (ROV) services supporting offshore operations in Brazil. The contract, awarded through a competitive tender process, will be executed by Oceaneering’s Brazilian subsidiary, Marine Production Systems do Brasil (MPS). Operations are scheduled to begin in 2027. Under the agreement, Oceaneering will supply two work-class […]
BW Energy has reached positive FIDs for two projects offshore Brazil and Gabon and raised its 2028 production target, the company announced on Wednesday. The decisions cover the Bourdon Phase 1 development in the Dussafu licence offshore Gabon and a new campaign of infill wells in the Golfinho licence offshore Brazil. Based on estimates of […]
BW Energy has approved offshore development projects in Gabon and Brazil that are expected to increase company production above 100,000 bopd by 2028.
Shell PLC remitted a total of $23.84 billion to governments in 24 countries where the British energy giant has upstream activities last year, with Brazil displacing Nigeria as top recipient at $4.25 billion.
Seadrill added more than $860 million to its offshore drilling contract backlog during first-quarter 2026, supported by new deepwater rig awards and extensions across Brazil, the U.S. Gulf and Angola as the company pointed to strengthening demand for offshore drilling services.