Petrobras announced that its management proposed to the company’s board a $111 billion business plan for 2025-2029, according to a securities filing

The company, led by Miguel Galuccio, will invest between $1.1 billion and $1.3 billion in 2025 to achieve this production level by connecting 60 new wells and will announce a new long-term strategic plan next year

The purchases are part of an effort to replenish stockpiles after President Joe Biden ordered the largest ever sale from the reserve in 2022 of 180 million barrels in an effort to control fuel prices

The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Kuwaiti Haitham al Ghais, defended in Brazil a strategy that supports all energy sources and stated that achieving this requires “adequate” investment over many decades

Vista, Argentina’s second-largest unconventional oil and gas operator, plans to invest around $1.1 billion in 2024 to accelerate production in Vaca Muerta, the company’s founder and CEO, Miguel Galuccio said

The Chilean state oil company ENAP (Empresa Nacional de Petróleo) will invest approximately $90 million over the next five years to increase crude oil production in Ecuador from Block 46 Mauro Dávalos Cordero (MDC)

The Bolivian state oil company YPFB will invest around 400 million dollars to drill gas wells and build facilities in a recently discovered “mega” natural gas field, the company reported

Repsol is open to selling as much as a 49% interest in the assets, which include over 800 producing wells spread across about 80,000 net acres with production of about 50,000 barrels of oil equivalent per day

ConocoPhillips, considered one of the largest oil companies in the United States, has agreed to acquire its smaller rival Marathon Oil for $17.1 billion in stock plus an additional $5.4 billion in debt

U.S. oil and gas deals hit a record $51 billion in the first quarter, a continuation of last year’s fierce merger pace centered in the top U.S. shale field, data provider Enverus said