🛢️ Petrobras $PBR reported total oil, gas and natural gas liquids production of 3.5 million barrels of oil equivalent per day (boed) in Q3 2026, according to a company filing cited by First Squawk. Oil production in Brazil reached 2.8 million barrels per day, representing the majority of the company's total hydrocarbon output. Meanwhile, oil, gas and petroleum product sales totaled 3.5 million barrels per day, while exports of crude oil and petroleum products reached 1.3 million barrels per day. #Petrobras #OilProduction #Brazil

🇧🇷 Brazilian President Luiz Inácio Lula da Silva has reportedly defeated Flávio Bolsonaro in the presidential runoff, securing a fourth term in office. According to the reports, Lula overcame a first-round defeat to win the runoff, a result described as unprecedented in Brazil’s modern democratic history. Before the election, market-implied odds of a Lula victory had reportedly fallen as low as 10%. Financial markets are reportedly reacting sharply. MercadoLibre $MELI is down 6% in early trading, while the Brazil ETF $EWZ has reportedly plunged nearly 20% in overnight trading. These election claims and market movements remain unverified. #Brazil #Elections #EmergingMarkets

🛢️ Chevron $CVX has encountered high-quality reservoirs at its Nargis-2 appraisal well offshore Egypt, confirming the earlier discovery made at Nargis-1, according to a company statement provided to Reuters. The well evaluated Miocene and Oligocene geological formations, with the results expected to guide further technical assessments and future exploration planning in Egypt and the broader Mediterranean region. Chevron operates the offshore Nargis concession with a 45% working interest, alongside IEOC Production B.V., which holds another 45%, and Egypt's Tharwa Petroleum Company, which owns the remaining 10%. Nargis-2 was drilled as part of the concession's second exploration phase, which required Chevron to drill an exploration well. Chevron also operates the Leviathan and Tamar natural gas fields offshore Israel, maintaining a significant presence across the Eastern Mediterranean. #Chevron #NaturalGas #Egypt

🛢️ BP $BP and the U.S. state of Louisiana have reached an agreement to settle two longstanding disputes related to the 2010 Deepwater Horizon oil spill. The settlement includes a single upfront payment of approximately $350 million and resolves outstanding coastal-related lawsuits involving the British energy company. The agreement, announced on October 23, addresses legal disputes stemming from the Deepwater Horizon disaster more than 16 years after the spill. #BP #DeepwaterHorizon #Energy

🛰️ AST SpaceMobile $ASTS shares rose 3.5% Monday morning after the company announced progress toward launching space-based cellular broadband services across Europe. Deutsche Telekom, Orange $ORA, Telefónica $TEF and Vodafone $VOD have signed a Letter of Intent to explore a potential joint bid for Mobile Satellite Services spectrum. The initiative brings together Europe’s four largest mobile network operators to coordinate spectrum access, network integration and satellite broadband deployment, particularly in areas lacking reliable terrestrial coverage. AST SpaceMobile is developing dedicated European-operated ground infrastructure connecting its BlueBird satellites directly to operators’ core networks. The architecture is designed to serve a market of more than 500 million mobile subscribers, while keeping data handling and service control within European jurisdiction. The company’s satellites connect directly to ordinary smartphones without specialized equipment. AST has already demonstrated peak download speeds of 98.9 Mbps, while its next-generation satellites are expected to approach 200 Mbps. AST’s technology can operate across approximately 1,150 MHz of partner operators’ low- and mid-band spectrum globally. Combined with its S-band priority rights, this flexibility could support expanded European coverage and capacity, subject to regulatory approvals. The proposed spectrum bid remains exploratory, with the operators having signed a Letter of Intent rather than a definitive agreement. #ASTS #SatelliteBroadband #Telecommunications

🛢️ ExxonMobil $XOM expects weaker Q3 2026 earnings, warning that changes in oil prices will reduce its upstream profits by approximately $1.3 billion. The company disclosed the expected impact in a regulatory filing on Friday. For comparison, ExxonMobil reported $7.9 billion in upstream earnings in Q2 2026, while its total net income reached $7.5 billion in Q3 2025. #ExxonMobil #OilAndGas #Earnings

🛢️ Petrobras $PBR has reached a record market capitalization of R$800 billion ($800 billion in Brazilian reais) for the first time, closing at an all-time high on Brazil's B3 exchange on October 14. The company's preferred shares $PETR4 have gained approximately 100% in 2026, while common shares $PETR3 have risen around 110%. On October 14 alone, they advanced 2.22% and 1.94%, respectively. The rally has been supported by higher international oil prices and stronger operational performance. Petrobras produced 2.7 million barrels of oil per day in Brazil during Q2 2026, up 15% year over year, while fuel production increased by more than 10%. First-half net income reached R$85.1 billion, up 37.6% year over year, including R$52.4 billion in Q2. Petrobras also announced agreements with Shell, TotalEnergies and Petrogal covering shared oil fields in the Santos Basin, under which it expects to receive approximately $859 million net by November 2026. The milestone follows another record earlier this month, when Petrobras surpassed R$700 billion in market value on October 3, supported by the announcement of a new ultra-deepwater oil discovery in Brazil's Foz do Amazonas Basin. #Petrobras #OilAndGas #Brazil

⛏️ Rio Tinto $RIO reports stronger copper production, higher iron ore sales and continued progress at its Simandou project in Q3 2026. Copper production at Oyu Tolgoi increased 29% year to date, while global iron ore sales rose 3% over the same period. In Guinea, Simandou reached an annualized production rate of approximately 10 million tonnes per year (Mtpa) during the third quarter as operations continued to ramp up. Rio Tinto also reaffirmed its target of achieving $1.8B in annualized productivity benefits by the end of 2026. Meanwhile, the company reported more than $2B in capital released year to date through its capital efficiency initiatives. #RioTinto #Copper #Mining

🛰️ Clear Street reiterates its Buy rating on AST SpaceMobile $ASTS with a $115 price target, arguing that investors are focusing too heavily on ASTS's launch risks while underestimating SpaceX's own execution challenges. The firm expects AST SpaceMobile to reach commercial broadband service by mid-2027, despite current launch constraints. Its model assumes BlueBird launches resume on Falcon 9, with New Glenn potentially returning to service in December. Clear Street estimates that SpaceX's next-generation direct-to-device constellation would require approximately 1,200 satellites for initial global coverage, equivalent to roughly 24 Starship flights, while Starship's larger V2 satellites cannot currently launch on Falcon 9. The firm believes ASTS remains approximately six months ahead of SpaceX. On the commercial side, Clear Street highlights ASTS's agreements with major mobile operators, including its recently announced U.S. joint venture with AT&T and Verizon, alongside opportunities in government communications and Japan's satellite infrastructure program. The firm identifies several near-term catalysts, including BlueBird 14–16 launch dates, FCC decisions on satellite spectrum leasing, the October 29 spectrum auction vote, and New Glenn's potential December return. Clear Street projects $327M in revenue for 2028 and $1.91B for 2032, with adjusted EBITDA reaching approximately $932M by 2032. With shares trading at approximately $51.46, its $115 price target implies around 123% upside. #ASTS #SatelliteCommunications #SpaceX

🛢️ Guyana may scale back its LNG export ambitions after ExxonMobil $XOM indicated it needs more offshore natural gas to maximize oil production, according to sources cited by Reuters. The Exxon-led consortium, which includes Chevron $CVX and CNOOC $600938, expects to require approximately 2 billion cubic feet per day (2 Bcf/d) of gas for reinjection into oil reservoirs to meet production targets at its approved developments. This could reduce the gas available for Guyana's proposed LNG export project, potentially cutting its initial capacity from 6 million tonnes per year (mtpa) to 3 mtpa, with expansion possible later. Government officials are also considering abandoning LNG exports altogether and prioritizing domestic electricity generation and petrochemical production. No final decision has been made, although sources indicate that a smaller LNG project is the more likely option. Guyana has requested greater clarity from ExxonMobil on available gas volumes, development costs and delivery timelines. The government is currently prioritizing a gas-fired power plant, while other proposed industrial projects may be delayed. Exxon's Stabroek Block contains approximately 11 billion barrels of oil equivalent in recoverable resources. The consortium is also advancing the Longtail and Haimara developments, which are expected to target non-associated gas and condensate. #ExxonMobil #LNG #Guyana