Brazilian state-controlled oil giant Petrobras has identified hydrocarbons in an exploration well being drilled in ultra-deep waters off the state of Amapá, providing an early indication of petroleum potential in one of the country's most closely watched exploration frontiers.
The Morpho well, formally known as 1-BRSA-1405-APS, is being drilled in the FZA-M-59 block in the Foz do Amazonas Basin, around 175 kilometers offshore in water depths of 2,886 meters. Petrobras said the hydrocarbon-bearing interval was identified through electrical well logs and indications in rock.
Drilling remains underway, and Petrobras has not disclosed the size of the accumulation, the type or quality of the hydrocarbons, or any estimate of recoverable resources. The result therefore represents an exploration discovery rather than confirmation of a commercially viable oil or gas development.
Still, the find is significant because Petrobras described it as its first discovery offshore Amapá, an area at the northern end of Brazil's Equatorial Margin where the company has been seeking to establish a new exploration province.
Petrobras began drilling Morpho after receiving an operating license from Brazilian environmental regulator Ibama in October 2025. At the time, the company said the well was designed to collect geological data and determine whether hydrocarbons were present in economically viable quantities, with no production planned during the exploration phase.

#hydrocarbons #morpho

Midland, Texas-based Diamondback Energy, Inc. (FANG), with a market capitalization of approximately $56.5 billion, is an independent oil and natural gas company focused on exploring, developing, and producing hydrocarbons in the Permian Basin. It also operates crude oil and natural gas gathering infrastructure through its subsidiary, Rattler Midstream.
Shares of this leading oil and gas company have significantly outperformed the broader market over the past year. FANG has climbed 45% over this period, compared with a 20.2% gain for the broader S&P 500 Index ($SPX). The stock has continued to outperform the index in 2026, gaining 33.6%, surpassing the index's 13.2% gain over the same period.
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#fang #market #gain

PARIS (AP) — Paris is staging its first high-diving competition in the Seine, with athletes launching themselves from a 20-meter platform in front of the Eiffel Tower — a spectacular new test of the city's effort to reclaim its river for sport.
The event on the Bir-Hakeim Bridge has also exposed the fragility of that ambition: Organizers suspended training Thursday when traces of hydrocarbons were detected upstream. By Friday, the French Swimming Federation said the affected area had been treated, allowing athletes to return to the water and the event to proceed as planned.
High diving concludes Saturday with the final two rounds and medal events, while the broader European Aquatics Championships run through Aug. 16.
"There are things that are within our control, and there are uncertainties that are inevitably linked to any outdoor activity," said Maxime Sauvage, Paris deputy mayor in charge of sports, sports facilities and equal access to sport.
Among the things within the city's control, he said, are the massive investments made before the 2024 Olympic and Paralympic Games to make the river safe for swimming, from work to prevent sewage from flowing directly into the Seine to improvements in stormwater management.

#athletes #things

Middle East turmoil, centered on the U.S. war with Iran, is playing havoc with world energy markets. An ongoing dispute over access to the Strait of Hormuz, through which a fifth of world oil and natural gas supply is shipped, is causing prices to surge. This is a boon for South America's oil industry, particularly Suriname's emerging petroleum boom, which was delayed by conflicting drilling results and seismic data. The former Dutch colony is on the cusp of becoming South America's next major oil-producing nation.
Since 2019, Suriname's government in the capital Paramaribo has hungrily eyed Guyana's booming petroleum sector, which delivered a massive economic windfall for the former British colony. Five major oil discoveries in offshore Block 58, which started in 2020 with the Maka Central-1 exploration well, confirmed the presence of commercially exploitable hydrocarbons in Suriname's portion of the offshore Guyana-Suriname Basin.
After a series of delays, beginning in 2022, due to mismatched drilling results and seismic data along with a high gas-to-oil ratio, TotalEnergies, the operator of Block 58, approved a final investment decision (FID). TotalEnergies, which holds a 50% working interest in offshore Block 58, and 50% partner APA Corporation approved the development of the deepwater GranMorgu project. This changed the project's ownership structure. Forty percent was retained by the operator TotalEnergies with another 40% retained by APA, and the remainder granted to Staatsolie.
The state-controlled energy company's acquisition was in accordance with Staatsolie's rights set out in the production-sharing contract (PSC) for Block 52. The company used a $1.6 billion loan from a banking consortium and a March 2025 bond issue to finance the acquisition. Staatsolie's share of GranMorgu will multiply the earnings delivered to Paramaribo, which has been battling an economic crisis since 2021. Indeed, the situation was so severe that rioting engulfed parts of the capital and parliament was stormed by protestors in 2023.
GranMorgu, which will come online in 2028, is a game changer for an economically challenged Suriname. The project's floating production, storage and offloading unit (FPSO) vessel, on completion, will have capacity of 220,000 barrels per day.

#south #World

Middle East turmoil, centered on the U.S. war with Iran, is playing havoc with world energy markets. An ongoing dispute over access to the Strait of Hormuz, through which a fifth of world oil and natural gas supply is shipped, is causing prices to surge. This is a boon for South America's oil industry, particularly Suriname's emerging petroleum boom, which was delayed by conflicting drilling results and seismic data. The former Dutch colony is on the cusp of becoming South America's next major oil-producing nation.
Since 2019, Suriname's government in the capital Paramaribo has hungrily eyed Guyana's booming petroleum sector, which delivered a massive economic windfall for the former British colony. Five major oil discoveries in offshore Block 58, which started in 2020 with the Maka Central-1 exploration well, confirmed the presence of commercially exploitable hydrocarbons in Suriname's portion of the offshore Guyana-Suriname Basin.
After a series of delays, beginning in 2022, due to mismatched drilling results and seismic data along with a high gas-to-oil ratio, TotalEnergies, the operator of Block 58, approved a final investment decision (FID). TotalEnergies, which holds a 50% working interest in offshore Block 58, and 50% partner APA Corporation approved the development of the deepwater GranMorgu project. This changed the project's ownership structure. Forty percent was retained by the operator TotalEnergies with another 40% retained by APA, and the remainder granted to Staatsolie.
The state-controlled energy company's acquisition was in accordance with Staatsolie's rights set out in the production-sharing contract (PSC) for Block 52. The company used a $1.6 billion loan from a banking consortium and a March 2025 bond issue to finance the acquisition. Staatsolie's share of GranMorgu will multiply the earnings delivered to Paramaribo, which has been battling an economic crisis since 2021. Indeed, the situation was so severe that rioting engulfed parts of the capital and parliament was stormed by protestors in 2023.
GranMorgu, which will come online in 2028, is a game changer for an economically challenged Suriname. The project's floating production, storage and offloading unit (FPSO) vessel, on completion, will have capacity of 220,000 barrels per day.

#suriname #since #World #energy

EQT Corporation (NYSE:EQT) is one of the 8 Worst Blue Chip Stocks to Buy Now.
On July 8, 2026, UBS lowered the firm's price target on EQT Corporation (NYSE:EQT) to $73 from $74 previously and kept a Buy rating on the shares.
On July 2, Jefferies **** yst Lloyd Byrne lowered the firm's price target on EQT Corporation (NYSE:EQT) to $75 from $77 and kept a Buy rating on the shares as part of a Q2 preview. Byrne said Jefferies expects EQT to post Q2 EBITDA of $1.13B, just below the consensus of $1.19B.
On June 30, Freedom Broker initiated coverage of EQT Corporation (NYSE:EQT) with a Buy rating and $79 price target on the shares. The firm said EQT is the largest U.S. natural gas producer and is positioned to benefit from improving natural gas market fundamentals.
EQT Corporation (NYSE:EQT) engages in the exploration, production, gathering, and transmission of hydrocarbons and natural gas.

Infinity Natural Resources, Inc. (NYSE:INR) has declined slightly by around 5% over the past month. Although the stock is trading close to its all-time low, ******* ysts' 12-month average price target suggests more than 96% upside from the current level. Infinity Natural Resources, Inc. (NYSE:INR) ranks among our Best All-Time Low Stocks to Buy Now.
Recently, on June 26, Texas Capital ******* yst John Annis initiated coverage of the stock with a Buy rating and a $27 price target. The ******* yst noted Infinity as a differentiated, high-growth Appalachian operator. He likes the company's accelerating scale and commodity optionality. The ******* yst also pointed to Infinity's recent acquisition of Ohio Utica upstream and midstream ******* ets and called it a major transformation for the business.
Texas Capital also noted that the stock trades at a discount to peers. The firm sees this valuation gap as creating an attractive entry point for investors.
Infinity Natural Resources, Inc. (NYSE:INR) is an independent energy company. It is focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin.
While we acknowledge the potential of INR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

For a decade, Colombia's economically vital oil industry has been caught in a death spiral. A combination of sharply weaker oil prices, rising geopolitical risk and anti-petroleum industry reforms implemented by Colombia's first leftist president Gustavo Petro deterred investment, causing the operational tempo to decline. The main issue weighing heavily on the oil patch's outlook is a dire lack of proven petroleum reserves. These are the result of a lack of spending on wildcat drilling and a poor exploration success rate.
After a lengthy delay, Colombia's regulatory authority, the National Hydrocarbons Agency (ANH), released the 2025 report on the Andean country's oil reserves. Since the end of the 2020 COVID pandemic, Colombia's proven oil and natural gas reserves have remained flat. This trend is evident from the 2025 reserve report, where proven or 1P oil reserves totaled just over 2 billion barrels, a nearly 1% decrease compared to a year earlier. Despite that drop, the productive life of Colombia's 1P reserves grew from 7.2 years for 2024 to 7.6 years.
Both proven and probable (2P) as well as proved, possible and probable (3P) reserves also declined, falling 2% and 3% year over year to 2.56 billion barrels and 2.99 billion barrels, respectively. The moderate increase in the productive life of 1P reserves occurred for one simple reason: Colombia's oil production is in decline, falling to a multiyear low of 724,910 barrels per day for April 2026. Indeed, that number was the lowest output since June 2021, when the Andean country lifted 694,151 barrels daily.
The vast majority of Colombia's 1P reserves, 74%, are located in the Llanos Basin with 15.3% in the Middle Magdalena Valley and 3.8% situated in the Upper Magdalena Valley. The aging Rubiales field in the Llanos Basin is the largest oilfield on the basis of proven reserves and remains Colombia's most productive petroleum acreage. For the year-to-date, ANH data shows 11.3 million barrels of oil have been lifted from the Rubiales field, which is nearly double that of the Castilla field, also situated in the Llanos Basin.
Colombia's natural gas reserves also fell sharply during 2025. The ANH report shows 1P natural gas reserves plummeted by a whopping 17% year over year to 1.7 trillion cubic feet. Meanwhile, 2P reserves plunged 11% to 2.38 trillion cubic feet and 3P fell 8% to 3 trillion cubic feet.