SUBSCRIBE
PROFILE

Petro-Victory boosts growth in Brazil through partnerships and acquisitions

Petro-Victory Energy secures key assets in Brazil through strategic alliances and acquisitions, consolidating its onshore market position and initiating a new phase of development.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Petro-Victory Energy Corp., a company specialised in onshore oil and gas exploration and production, has announced several structuring developments in Brazil. The firm recently concluded major financial and operational partnerships, as well as targeted acquisitions, with the objective of accelerating its expansion across the country’s terrestrial basins. These operations aim to ensure free cash flow generation and expand existing production capacity.

Key financial and operational partnerships

Noteworthy among these initiatives is a strategic partnership with BlueOak Investments, identified as the main capital provider in the acquisition of Capixaba Energia. This acquisition marks the launch of a regional growth hub within Petro-Victory’s portfolio. A development agreement was also signed with Eneva, one of Brazil’s largest energy operators, including a fully funded drilling and seismic commitment. Another partnership, signed with ATE, covers the financing of two development wells at the Andorinha Field, with an option to buy into the related assets under pre-agreed terms.

Asset portfolio expansion

Petro-Victory finalised the acquisition of 13 producing oil fields from Brava Energia S.A., adjacent to its existing concessions. These assets enhance the company’s exploitable reserves, particularly in the Potiguar and Espirito Santo basins, both of which are strategic zones for the company. The resource potential in the source rock of the Potiguar Basin has been estimated at 36.2 billion barrels of undiscovered oil originally in place, based on company data.

Operational projections and development plan

The 2025 development plan includes a fully funded workover and drilling campaign in the Espirito Santo Basin, along with partner-supported drilling of two wells in the Potiguar Basin. A similar operation is scheduled for the São João gas field in 2026, comprising one well and a 3D seismic campaign. According to an independent reserves and resources report, the company holds substantial proven reserves, strengthening its market credibility.

  • Popular on energynews.pro
LIFT completes full year of environmental studies for Yellowknife lithium project
Idemitsu launches its first 15MW grid battery on former oil site
Rockpoint raises C$704mn in IPO and cedes nearly 40% of capital to public investor
Eolian and Natixis close $463mn financing for largest storage project in Texas
Australia exceeds target with 6.6GW awarded in latest tender round
China’s crude oil imports rise 3.9% in September
China imported an average of 11.5 million barrels of crude oil per day in September, supported by higher refining rates among both state-run and independent operators.
Unipec redirects supertanker to Ningbo after US sanctions
The New Vista vessel, loaded with Abu Dhabi crude, avoided Rizhao port after the United States sanctioned the oil terminal partly operated by a Sinopec subsidiary.
OPEC maintains demand forecast and lowers expected 2026 deficit
OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.
Croatia targets Russian stake in NIS to maintain oil flows
JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.
Washington targets Iranian oil with new sanctions on phantom fleet
The US Treasury Department has imposed sanctions on more than 50 entities linked to Iranian oil exports, targeting Chinese refineries and vessels registered in Asia and Africa.
Les deux Soudans scellent un accord pétrolier malgré l’ombre des milices
Khartoum et Juba annoncent un mécanisme commun pour protéger les oléoducs transfrontaliers, sans clarifier le rôle des forces armées non étatiques qui contrôlent une partie des installations.
Namibia and McDermott join forces to train future oil workforce
The Namibian government signed an agreement with McDermott to strengthen local skills in offshore engineering and operations, aiming to increase oil sector local content to 15% by 2030.
Nigeria inaugurates its first publicly funded floating oil terminal
Nigeria deploys a 2.2 million-barrel floating storage unit funded by public investment, strengthening sovereignty over oil exports and reducing losses from theft and infrastructure failures.
Bill C-5 fuels uncertainty over the future of pipelines in Canada
Despite open statements of dialogue, the federal government maintains an ambiguous regulatory framework that hinders interprovincial oil projects, leaving the industry in doubt.
Sintana Energy acquires Challenger Energy to strengthen offshore assets in Africa
Canada’s Sintana Energy acquires Challenger Energy in a $61mn all-share deal, targeting offshore exploration in Namibia and Uruguay. The move highlights growing consolidation among independent oil exploration firms.
Exxon restarts catalytic cracking unit in Beaumont after technical failure
The 120,000-barrel-per-day catalytic cracking unit at the Beaumont site resumed operations after an unexpected shutdown caused by a technical incident earlier in the week.
Sudan and South Sudan sign agreement to secure oil infrastructure
An agreement was reached between Khartoum and Juba to protect key oil installations, as ongoing armed conflict continues to threaten crude flows vital to both economies.
Algeria signs two oil assessment agreements with Petrogas E&P
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
Chinese refineries cut Iranian crude purchases by 46% in September
Import quotas exhaustion and falling demand push Chinese independent refineries to sharply reduce Iranian crude volumes, affecting supply levels and putting downward pressure on prices.
US sanctions hit NIS, a key player in Serbia’s oil market
Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.
Chevron appoints former TotalEnergies executive to lead African exploration
US-based Chevron appoints Kevin McLachlan, a veteran of TotalEnergies, as its global head of exploration, in a strategic move targeting Nigeria, Angola and Namibia.
Lycos Energy sells assets for $60mn and redistributes $47.9mn to shareholders
Lycos Energy finalises the sale of its Alberta assets for $60mn, planning an immediate $47.9mn cash distribution to shareholders and the launch of a share buyback programme.
Russia increases oil production and nears OPEC+ quota
Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.
Jihadist blockade disrupts fuel supply across Mali
Fuel shortages now affect Bamako, struck in turn by a jihadist blockade targeting petroleum flows from Ivorian and Senegalese ports, severely disrupting national logistics.
McDermott signs strategic partnership with PETROFUND to train Namibia’s energy workforce
McDermott has signed a memorandum of understanding with PETROFUND to launch technical training programmes aimed at strengthening local skills in Namibia’s oil and gas sector.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.