Repsol, through the joint venture Repsol Sinopec Brasil and in a consortium with TotalEnergies and Shell, has started oil production at Lapa Southwest, located in the Santos Basin
The war in Iran is currently cutting about 15 million barrels per day (bpd) of oil and refined products from the Gulf to global markets, which could push crude prices to $150 per barrel, research and consulting firm Wood Mackenzie said
The head of the International Energy Agency (IEA) said there is ample oil on global markets and that current problems stem from a “temporary logistical disruption” caused by the blockade of the Strait of Hormuz
State-controlled Argentine oil company YPF reported a net loss of $799 million in 2025, compared with a net profit of $2.393 billion in 2024. .477 billion. Total hydrocarbon production reached 527,000 barrels of oil equivalent per day last year
U.S. Treasury Secretary Scott Bessent said oil markets are well supplied amid the U.S.–Israeli conflict involving Iran, adding that the United States plans to make a series of additional announcements on the matter
Global oil demand will grow more slowly than previously expected this year, the International Energy Agency (IEA) said, while forecasting that the global market will continue to face a sizable surplus despite supply cuts that reduced output in January
U.S. President Donald Trump said he expects oil prices to decline as soon as his administration’s military operations in Iran come to an end
OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day at its upcoming meeting, two sources familiar with the group’s position said
The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.34 million barrels per day in January, 60,000 bpd less than in December, according to the survey, with Nigeria posting the largest decline
The company reported that its pre-tax income in 2025 decreased by 0.5% to $29.756 billion, while revenue from the sale of property and equipment totaled $1.148 billion, representing a 29.1% year-over-year decline
