Huge oil reserves believed to lie off the mouth of the Amazon have sparked a bitter debate in Brazil about its role in ...

The world faces a record glut of oil next year as a Saudi-led cartel ramps up production – just as global demand slumps.

BP's announcement on Monday of its largest global oil and gas discovery in 25 years in Brazil's offshore Santos basin bodes ...

Petrobras has received authorization for a pre-operational assessment, moving closer to an exploration permit for an environmentally sensitive offshore region in the Amazon basin.

Global oil demand is set to grow by 1.38 million barrels per day (bpd) in 2026, OPEC said on Tuesday as it raised its ...

BP is seeking to bolster oil and gas in its portfolio to regain investor confidence and revive underperforming shares.

Since the first big finds in the 1940s, Brazil’s politicians have vowed all of its people would benefit. But in some oil ...

International crude oil prices have been falling under the weight of over supply but it could be worse next year with dire ...

The U.S. has granted a tariff exemption for Brazilian crude oil, allowing exports to resume and avoiding a trade standoff.

The International Energy Agency says the world is heading straight into a record-breaking oil surplus in 2026, as global demand growth slows down and ...

Amid a pivot back to its fossil fuel roots and away from renewable energy, Britain's BP said it had made its largest oil and ...

BP is not the only driller betting big on South America, which last year produced around two-fifths as much crude oil as ...