Exxon Mobil will target annual spending on projects between $22 billion and $27 billion until 2027, the company said in an update that largely continues with existing spending and production goals

This marks the second discovery by the company in Block 52, with the first one in 2020, confirmed by Petronas Suriname E&P, a subsidiary of Petronas, and Suriname’s national oil company, Staatsolie

The company earned $6.5 billion, down from $11.2 billion in the same period last year. Adjusted profit was $3.05 a share, compared to analysts’ expected $3.75 per share

Energy company Repsol’s adjusted net profit fell 27% year-on-year in the third quarter because of lower oil and gas prices, it said, adding it would further diversify into renewables to offset fossil fuel volatility

Shell plans to increase its oil production by 5,000 barrels per day (bpd) in Argentina’s Vaca Muerta shale formation to 50,000 bpd by the end of the year, despite limitations on investments

Brazilian state-run oil company said it has decided to halt some key asset sales after concluding a broad revision of divestment processes, which were launched during the country’s previous administration

European oil majors Eni and Repsol plan to expand an oil-for-debt deal with Venezuela under U.S. approval, aiming to supply refined products to state firm PDVSA and boost oil deliveries to Europe

Easing sanctions has been a carrot held out in the past by the U.S., but which so far has resulted in very few authorizations, including one to Chevron Corp that has allowed the firm to expand operations in Venezuela and export its oil to the United States since November

Argentina’s economy ministry said it will freeze fuel prices until October 31 after an agreement with the industry as a measure to help tamp down triple-digit inflation

Separately, the company released its results for the second quarter, which – as expected – were hit by lower energy prices