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Brazil

Brazil invests to connect Roraima to its national power grid
Roraima, the last state not connected to Brazil’s national grid, has been linked through a publicly funded project launched over 14 years ago.
Voltalia unveils SPRING, a strategic plan to restore profitability by 2026
Voltalia launches a transformation programme targeting a return to profit from 2026, built on a refocus of activities, a new operating structure and self-financed growth of 300 to 400 MW per year.

BW Energy raises $365mn for Maromba FPSO and secures drilling rig

BW Energy has finalised a $365mn financing for the conversion of the Maromba FPSO offshore Brazil and signed a short-term lease for a drilling rig with Minsheng Financial Leasing.
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Viridien and TGS launch 5,300 km² 3D seismic survey offshore Brazil
Viridien and TGS have started a new 3D multi-client seismic survey in Brazil’s Barreirinhas Basin, an offshore zone still unexplored but viewed as strategic for oil exploration.
Brazil bets on Cop 28 to shape the diplomatic agenda of Cop 30
Brazil’s Cop 30 presidency aims to leverage the Dubai commitments to mobilise public and private actors despite ongoing deadlock in international negotiations.

1,460 GtCO2: Nature study reshapes allocation of global subsurface capacity

A prudent limit of 1,460 GtCO2 for geologic storage reshapes the split between industrial abatement and net removals, with oil-scale injection needs and an onshore/offshore distribution that will define logistics, costs and liabilities.
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ReconAfrica advances drilling of Kavango West 1X well in Namibia
Reconnaissance Energy Africa continues drilling its Kavango West 1X exploration well with plans to enter the Otavi reservoir in October and reach total depth by the end of November.
Scatec signs 15-year power purchase agreement for a solar plant in Colombia
Norwegian group Scatec has signed a power sales agreement with BTG Pactual for its first solar project in Colombia, representing an estimated $110mn investment.

Brazil requests full membership in the International Energy Agency

BrasĂ­lia has officially begun the process of joining the International Energy Agency, strengthening its strategic position on the global energy stage after years of close cooperation with the Paris-based organisation.
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Global solar capacity jumps to 380 GW in first half of 2025
New solar installations rose 64% year-on-year, driven by China, which accounted for more than two-thirds of global deployed capacity.
Global renewable energy investments reach $386 billion in first half
Driven by distributed solar and offshore wind, renewable energy investments rose 10% year-on-year despite falling financing for large-scale projects.

Brazil dismantles criminal fuel network worth BRL52bn

Brazilian authorities have launched a large-scale operation targeting a money laundering system linked to the fuel sector, involving investment funds, fintechs, and more than 1,000 service stations across the country.
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CATL deploys TENER Stack system in Brazil to accelerate regional expansion
CATL unveiled in SĂŁo Paulo its new 9MWh TENER Stack system, designed for the South American market, responding to rising demand for energy storage driven by the growth of renewable energy.
Sweden lifts uranium mining ban to revive nuclear industry
Stockholm plans to restart uranium extraction by lifting the 2018 ban, aiming to secure strategic supply chains and support domestic nuclear electricity production.

CNOOC Limited records 6.1% increase in production for H1 2025

With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.
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Brazil Mobilizes $1 Billion for 65 Hydropower Plants
A landmark auction in Brazil allocates 815 MW to medium-sized hydroelectric plants, with grid injection scheduled from 2030.
Moretti expected to chair Petrobras board with ministerial backing
Bruno Moretti, current special secretary to the presidency, is in pole position to lead Petrobras’ board of directors after Pietro Mendes’ resignation for a regulatory role.

Indonesia Energy enters the Brazilian market with a strategic exploratory agreement

Indonesia Energy Corporation signs a memorandum of understanding with Aguila Energia to identify oil and gas assets in Brazil, marking a first incursion outside its domestic market.
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Global Petrochemical Investments Projected to Reach USD 956 Billion by 2032
Driven by rising industrial demand and emerging capacities in Asia, the global petrochemicals market is expected to see sustained expansion despite regulatory pressures and raw material cost challenges.
U.S. Tariffs: India Increases Brazilian Crude Imports by 80% in 2025
Indian imports of Brazilian crude reach 72,000 barrels per day in the first half of 2025, driven by U.S. sanctions, and are expected to grow with new contracts and upstream projects between Petrobras and Indian refiners.
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Orazul Energy launches cash tender offer for its 2027 notes
Iraq in talks with ExxonMobil for refining capacities in Asia
Greek shipowners cut Russian crude links under new compliance rules
NatPower Marine and Wah Kwong launch electric port network across 30 Asian ports
Westinghouse and EDF reactors deemed viable for Slovenia’s JEK2 nuclear project
France Maintains Ban on Oil Exploration in French Guiana
Energy Minister Marc Ferracci reaffirmed his opposition to reopening the debate on oil exploration in France. Despite proposals from Overseas Minister Manuel Valls, the government is prioritizing a decarbonization strategy aligned with its international commitments.
Manuel Valls proposes opening the debate on oil exploitation in Guyana
Manuel Valls calls for a debate on banning oil exploitation in Guyana, while Minister of Ecological Transition, Agnès Pannier-Runacher, opposes, emphasizing the consistency of France's environmental commitments.

BPCL secures a strategic contract with Petrobras for Brazilian crude oil imports

Bharat Petroleum Corporation Limited (BPCL) has signed a major agreement with PetrĂłleo Brasileiro S.A. (Petrobras) for the import of Brazilian crude oil, strengthening India's energy supply diversification and reinforcing trade relations between the two nations.
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Petro-Victory acquires 13 oil fields in Brazil for USD 15 million
Petro-Victory Energy Corp. and Azevedo & Travassos Petroleo announce the joint acquisition of 13 onshore oil fields in Brazil. The USD 15 million deal aims to increase production and strengthen their presence in the Potiguar Basin.
Brazil: Eletronuclear optimizes costs and postpones Angra 3 to 2031
Eletronuclear has announced a restructuring plan aimed at improving governance and the economic viability of its nuclear projects. The commissioning of Angra 3 is now scheduled for 2031, following multiple construction interruptions and budget adjustments.

Major Economies Delay the Publication of Their Climate Strategies

The majority of countries have not submitted their new climate roadmaps to the UN before the February 10 deadline. This delay raises questions about the priorities of major economies amid geopolitical shifts and economic uncertainty.
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Brazil: Petrobras accelerates its oil project in the Equatorial Margin despite uncertainties
Petrobras aims to exploit a 10-billion-barrel deposit off the Amazon coast. While Ibama assesses the environmental impact, the Brazilian government supports the project, which could strengthen the country’s position in the global oil market.
Namibia: Africa Oil Expands with the Drilling of Marula-1X
Africa Oil Corp. and its investee Impact Oil & Gas are accelerating their offshore operations in Namibia. Following the drilling of Tamboti-1X, work continues with Marula-1X, targeting Albian reservoirs. The Venus project, scheduled for 2026, could mark a key milestone.

Russia: IAEA Praises Safety Efforts at Novovoronezh Nuclear Power Plant

A mission from the International Atomic Energy Agency (IAEA) has assessed safety practices at the Novovoronezh nuclear power plant, operated by Rosatom. The audit highlighted advancements in operational safety while recommending targeted improvements.
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Abyss Solutions and Petrobras Collaborate on Offshore Digital Inspection
Abyss Solutions signs an R&D contract with Petrobras to develop an advanced digital inspection technology aimed at optimizing offshore platform maintenance and reducing operational costs.
CĂ´te d’Ivoire: PFO Energies launches the 52.42 MWc FERKE SOLAR power plant
The construction of the FERKE SOLAR photovoltaic power plant has begun in Ferkéssédougou. This 52.42 MWc project, led by PFO Energies, represents a $65 million investment and will double the country's installed solar capacity. Completion is expected by the end of 2025.

Oil and Gas M&A: A Slowdown in 2025 Despite $150 Billion in Opportunities for Rystad

After two record years of mergers and acquisitions in the oil and gas sector, upstream M&A activity is expected to slow down in 2025. Despite a deal pipeline valued at $150 billion, geopolitical tensions and restrictive fiscal policies are limiting new opportunities.
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Tullow Petroleum seeks to reduce debt after failed merger with Kosmos
Tullow Petroleum is focusing on reducing its debt after the cancellation of its merger project with Kosmos Energy. The company is exploring options to lighten its balance sheet and concentrate on its strategic activities.
Trafigura Convicted in Switzerland for Foreign Public Official Corruption
Trafigura, the major commodities trading giant, has been convicted by the Swiss Federal Criminal Court for corrupting a foreign public official in Angola, marking a precedent in the commodities sector.

A photovoltaic power plant integrated into a refinery: a key project in Colombia

The Ecopetrol refinery in Cartagena hosts a 23 MW solar power plant built by PowerChina and equipped with JA Solar modules, showcasing a hybrid energy model applied to the oil industry.
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Nigeria strengthens its energy alliances with the BRICS
Africa’s leading oil producer, Nigeria, relies on new partnerships to finance its infrastructure, diversify its markets, and integrate nuclear, solar, and gas projects into its growth strategy.
Vinci calls for private funding to speed up EPR reactors
Vinci calls for private funding to speed up EPR reactors

Colombia and Ecopetrol Reduce ADR Conversion Fees by 50%

Ecopetrol announces, in partnership with JPMorgan Chase Bank, a 50% reduction in conversion fees for its American Depositary Receipts, effective until July 10, 2025, as part of a strategy to enhance its international appeal.
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Côte d’Ivoire: Oil Production Exceeds Initial Forecasts
Oil and gas production from the Baleine field in Côte d’Ivoire has surpassed expectations, reaching 85,000 barrels per day thanks to the progress of its first two phases, according to the government.
Global Road Transport: CO2 Emissions Expected to Peak in 2025
CO2 emissions from global road transport could peak as early as 2025 thanks to the rise of electric vehicles and carbon regulations, according to an ICCT report.
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