LATAM NRG DASHBOARD

(Energy Analytics Institute, Ian Silverman, 21.Sep.2018) — Bolivia’s President Evo Morales announced details of investments destined to boost natural gas production at the Incahuasi field, located in the municipality of Lagunillas, south of Santa Cruz. The investments include the following: $29.5 million for expansion of plant capacity; $25.6 million for ...
Read More

(Pemex, 20.Sep.2018) — Pemex and the Block 7 consortium signed the first ever pre-unitization agreement in Mexico. Petróleos Mexicanos (Pemex) and Talos Energy, as operator of the Block 7 Consortium, announced that Pemex and the international Block 7 Consortium (Talos Energy, Sierra Oil and Gas, and Premier Oil) signed a ...
Read More

(AP, 20.Sep.2018) — Venezuelan President Nicolas Maduro said Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy. Already a major economic partner, China has agreed to invest US$5 billion more ...
Read More

(Trinidad and Tobago Newsday, Yvonne Webb, 20.Sep.2018) — Days before Petrotrin's refining operation ceases and workers are retrenched, a member of the board who would have participated in the restructuring exercise, has become the first casualty of the plan. An internal circular from the company to all employees confirmed board ...
Read More

(Bloomberg, Christopher Sell, 20.Sep.2018) — A global recession, both $140 and $30 oil, the U.S. shale revolution, a market-share war, and output cuts. OPEC’s 60-year history has rarely confronted a more challenging period than the past decade. Now, instead of enjoying the higher prices resulting from 18 months of joint ...
Read More

(Pemex, 19.Sep.2018) — The CEO of Petróleos Mexicanos, Carlos Treviño Medina, launched the Management Assessment System at the Cangrejera Petrochemical Complex, located in the state of Veracruz that will help increase the production value of oil products processed in this center, through the identification of critical inventory items, oversight the ...
Read More

(Pemex, 19.Sep.2018) — At 13:16 hours, on September 19th a massive, country-wide earthquake drill started and 140 Petróleos Mexicanos facilities participated simultaneously. This country-wide drill is held in Mexico each year to commemorate the National Civil Defense Day and as a day to honor the victims of the devastating 1985 ...
Read More

(Reuters, Collin Eaton, 19.Sep.2018) — A former Petroleos Mexicanos board member said on Wednesday Mexican President-elect Andres Manuel Lopez Obrador has enough political support to change the nation’s energy law and should postpone planned competitive oil auctions until the law is revised. Fluvio Ruiz Alarcon said, following an address at ...
Read More

(CMC, 19.Sep.2018) — The Trinidad and Tobago g overnment Monday said the compensation package for workers being laid off by the closure of the oil refinery of the s tate-owned company, Petrotrin could be more than TT$1 billion (one TT dollar=US$0.16 cents). But energy minister, speaking in the Senate, said ...
Read More

(CMC, 19.Sep.2018) — President Jovenel Moise has called on newly installed Prime Minister Jean-Henry Céant to ensure that there's total transparency in the investigation regarding the use of funds under the PetroCaribe initiative. “As I explained in my message of Prime Minister Jean Henry- Céant (and) to the nation, and ...
Read More

(Aker Solutions, 18.Sep.2018) — The Campos Basin extends approximately 100,000 square kilometers. The three-year contract is valued at more than BRL 250 million and includes an option for a two-year extension. Aker Solutions will be renovating, repairing and upgrading offshore production units for Petrobras' Campos Basin Operational Unit (UO-BC). The ...
Read More

(Energy Analytics Institute, Piero Stewart, 18.Sep.2018) — Venezuela, the struggling OPEC producer, is now planning to double its production of crude oil, according to statements from the country's president. “With revolutionary spirit we will double the productive capacity of PDVSA,” announced Venezuela’s President Nicolas Maduro during a press conference in ...
Read More

(Energy Analytics Institute, Piero Stewart, 18.Sep.2018) — In terms of bilateral cooperation, Venezuela and China are seeking a ‘win-win’ scenarios. “Relations with China are very clear and have been framed around mutual respect and under the premise of win-win, which has allowed for the reactivation of financial funds, and revival ...
Read More

(Trinidad Express, 17.Sep.2018) — Former Director of Energy Industries at Industrial, Jim Catterson, says closure of the Petrotrin refinery makes no economic sense. He said the closure would decimate south Trinidad. Catterson said unemployment would rise and poverty would spread across the nation. Speaking at a press conference at the ...
Read More

(Reuters, Devika Krishna Kumar, Simon Webb, 17.Sep.2018) — Brazil’s state-run oil giant Petróleo Brasileiro SA aims to raise output as much as 10 percent to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by $10 billion (7.62 billion pounds), Chief Financial Officer Rafael Grisolia told ...
Read More

(Energy Analytics Institute, Ian Silverman, 15.Sep.2018) — Read my lips. Well, it wasn’t exactly like that. However, Bolivia’s President Evo Morales clarified that electricity tariffs in the small land-locked South American county would not rise. Domestic consumption is around 1,500 megawatts, while supply is around 2,100 megawatts, reported the daily ...
Read More

(Jamaica Gleaner, 14.Sep.2018) — Barbados says it is holding discussions with a number of suppliers to replace the energy arrangements it had with oil refinery Petrotrin. The refinery, based in Trinidad & Tobago, is locking down operations, a measure it blamed on increasing financial losses. The closure has led to ...
Read More

(Energy Analytics Institute, Ian Silverman, 14.Sep.2018) — Argentina owes Bolivia $250 million, which corresponds to two-months of natural gas sales. “Hopefully they can honor the debt,” reported the daily newspaper La Razón, citing Bolivia’s Hydrocarbons Minister Luis Alberto Sánchez. *** ...
Read More

(PetroTal, 14.Sep.2018) — PetroTal Corp. granted performance share units (PSUs) and deferred share units (DSUs) to certain officers and directors of the company. PetroTal granted an aggregate of 3,901,666 PSUs to certain officers of the company in accordance of the provisions of the company’s PSU plan. The PSUs will vest ...
Read More

(Seeking Alpha, Dylan Quintilone, 14.Sep.2018) — Ecopetrol SA is a Colombian oil and gas company with headquarters in Bogotá, Colombia. The company is listed by Forbes as the 300th largest enterprise by profits and is the second oil company in South America behind Petrobras from Brazil. Ecopetrol’s operations are divided ...
Read More

(Energy Analytics Institute, Aaron Simonsky, 14.Sep.2018) — Kosmos Energy continues to explore new basin potential outside of Africa. In December 2011, Kosmos secured a position offshore Suriname, marking the company’s first portfolio expansion beyond Africa. In Suriname, located in the north-eastern portion of South America, Kosmos participates in two blocks: ...
Read More

(Energy Analytics Institute, Aaron Simonsky, 13.Sep.2018) — PetroTal Corp. is seeking joint venture partners to drill the first exploration well by the fourth quarter 2019 or early 2020. “We are currently engaging potential joint venture partners to drill the exploration prospect and expect the full data room to be open ...
Read More

(Bloomberg, Grant Smith. 13.Sep.2018) — The International Energy Agency warned that oil prices could break out above $80 a barrel unless other producers act to offset deepening supply losses in Iran and Venezuela. Iranian crude exports have fallen significantly before U.S. sanctions even take effect, the IEA said in a ...
Read More

(Reuters, 13.Sep.2018) — A former manager of a U.S.-based logistics company pleaded guilty on Thursday to paying bribes to secure contracts from Venezuela’s state oil company PDVSA, and the guilty plea of the official who was bribed was also unsealed, the U.S. Justice Department said. Juan Carlos Castillo Rincon, 55, ...
Read More

(OffshoreEnergyToday, 13.Sep.2018) — French oil major Total has exercised its option to acquire a 25 percent working interest in the Orinduik block offshore Guyana after a competent persons report identified potential for almost three billion barrels of oil equivalent. Eco Atlantic, a partner in the Tullow-operated Orinduik block, said on ...
Read More

(Trinidad and Tobago Newsday, Sasha Harrinanan, 12.Sep.2018) — Most everyone knows about the 1,700 workers who will be out of a job once Petrotrin closes its oil refinery in Pointe-a-Pierre. What fewer people know is that when confirmation of this came on August 28, some National Petroleum Marketing Co Ltd ...
Read More

(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — Venezuela’s oil production seems on an unstoppable downward trend. The OPEC country’s production of crude oil fell 2.9 percent to 1,235 thousand barrels per day (Mb/d) in August 2018 compared to 1,272 Mb/d in July 2018, according to data published in OPEC’s Monthly ...
Read More

(CMC, 12.Sep.2018) — Jamaica says it has benefitted from projects estimated at US$5 billion under the Venezuela-led PetroCaribe initiative over the past 13 years. CEO of the Petro-Caribe Development Fund Dr Wesley Hughes said the contributions of the fund to Jamaica have been “meaningful and significant”. Speaking earlier this week ...
Read More

(Reuters, Mayela Armas, 12.Sep.2018) — An overhaul of Venezuela’s constitution being prepared by the pro-government Constituent Assembly will likely include changes intended to attract private investment in the country’s oil fields, according to two assembly members. Production by the OPEC nation’s oil industry is at a 60-year low, leaving President ...
Read More

(Reuters, Marianna Parraga, 12.Sep.2018) — PDVSA expects to reopen the south dock of Venezuela’s main oil port Jose by the end of September, easing strains on crude exports delayed due to a tanker collision last month, according to internal trade documents from the state-run oil firm seen by Reuters. Last ...
Read More

(Afp, 12.Sep.2018) — Venezuela's President Nicolas Maduro departed Wednesday for China in search of agreements to bolster the oil-exporting country's collapsing economy. Maduro said the trip was "very necessary, very opportune and full of great expectations." "We are leaving under better conditions, having activated a program of economic recovery, growth ...
Read More

(Jamaica Gleaner, 12.Sep.2018) — Gas prices are to go down by $0.72 tomorrow Thursday, September 13 The state-owned oil refinery, Petrojam, says E-10 87 will sell for $137.82 per litre and a litre of E-10 90 will sell for $140.65. Automotive diesel oil will go down by $0.35 per litre to ...
Read More

(World Oil, 12.Sep.2018) — Carlos Pérez Garcia, Minister of Energy and Non-renewable Resources in Ecuador has announced an open licensing round for eight blocks onshore Ecuador, in Sucumbíos Province. These comprise: Araza Este, Changue, Iguana, Perico, Espejo, Pañayacu Norte, Charapa and Sahino. The blocks offered are all onshore, conventional opportunities, ...
Read More

(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — The decline is consistent and constant as well as consistently and constantly bad, writes Caracas Capital Market in a research note emailed to clients. Summary details from the research note follow: OPEC released the production counts for its member states today and while ...
Read More

(UNICEF Canada, 12.Sep.2018) — A year after two category 5 hurricanes caused destruction across parts of the Caribbean, most children in the affected countries are now back in school and have access to the services they need, thanks to the efforts of UNICEF and partners. In September 2017, hurricanes Irma ...
Read More

(Sempra Energy, 11.Sep.2018) — Sempra Energy announced its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) signed a long-term contract with British Petroleum (BP) for the remaining 50 percent of the initial capacity of the proposed Baja Refinados liquid fuels marine terminal in Baja California, Mexico. Under the agreement, ...
Read More

(S&P Global Platts, Daniel Rodriguez, 11.Sep.2018) — Mexico's President-elect Andres Manuel Lopez Obrador said Sunday he plans to focus on developing and exploring onshore and shallow water areas under the control of state oil company Pemex to boost the country's oil production. “We have a projection, and our plan is ...
Read More

(Ecopetrol S.A., 10.Sep.2018) — Ecopetrol S.A. announced that as part of its integral debt management strategy, it will sign a contingent line of credit for $665 million with Scotiabank ($430 million) and Mizuho Bank ($235 million). Under this type of facility, known as a committed line of credit, Scotiabank and ...
Read More

(Excelerate Energy L.P., 10.Sep.2018) — Excelerate Energy L.P. and Transportadora de Gas del Sur S.A. announced the execution of a Memorandum of Understanding to jointly collaborate on the assessment of a liquefaction project in the city of Bahía Blanca, Argentina. Argentina currently imports liquefied natural gas (LNG) through two floating ...
Read More

(OGJ, Nick Snow, 10.Sep.2018) — An international tribunal administered by the Permanent Court of Arbitration in The Hague found that a $9.5-billion judgment that Ecuador’s government lodged against Chevron Corp. in 2011 violated international treaties, investment agreements, and international law. Ecuador breached its obligations under a 1995 settlement agreement that ...
Read More

(Energy Analytics Institute, Piero Stewart, 10.Sep.2018) — The proposed Law for the Promotion of the Hydrocarbons Industry, which will be debated shortly by Congress, is “favorable” for the country's oil sector, announced Peru-Petro President Seferino Yesquén. The official, speaking during an interview with Andina, said the law is “favorable” because ...
Read More

(Energy Analytics Institute, Jared Yamin, 8.Sep.2018) — Stena Bulk signed a deal to charter two MR tankers to Petrobras. Under the deal, Stena Bulk will charter its MR product tankers Stena Conqueror (47,000 dwt, built in 2003) and Stena Conquest (47,000 dwt, built in 2004) to Brazil's state-owned oil company ...
Read More

(Oilprice.com, Tsvetana Paraskova, 7.Sep.2018) — Venezuela has set up a commission that will be working to reshuffle and reorganize its state oil firm PDVSA in the next few months, according to the country’s Official Gazette on Thursday, in what would be the latest Venezuelan attempt to show that it is ...
Read More

(Frontera Energy Corporation, 7.Sep.2018) — Frontera Energy Corporation has been named a Canadian Sustainable Development Goals award winner for the second consecutive year by the Global Compact Network Canada, the Canadian network of the United Nations Global Compact. Frontera was awarded the SDG Leadership Award in the large organizations category, ...
Read More

(Stabroek News, 7.Sep.2018) — Former presidential advisor Jan Mangal has warned that while cash payouts from oil revenue may have an important role to play in the future, at this point it could be a distraction from the larger goal of clawing back wealth. His reference in a Facebook post ...
Read More

(Reuters, 6.Sep.2018) — Brazil’s state-run oil company Petroleo Brasileiro SA on Thursday unveiled a hedging program for gasoline prices in a bid to boost pricing flexibility and protect its financial results during times of high volatility. Petrobras, as the company is known, said in a securities filing the program would ...
Read More

(Efe, 6.Sep.2018) — The government of Argentina announced Thursday that it will launch a third round of tenders for bids on renewable energy projects in October. The announcement was made by the undersecretary of Renewable Energy, Sebastian Kind, during the Argentina Wind Power 2018 conference, organized by the Global Wind ...
Read More

(Efe, 6.Sep.2018) — Output from Brazil’s most prolific pre-salt field will climb to a peak of 1 million barrels of oil per day in 2019, according to the executive manager for deep-water exploration and production at state oil company Petrobras. The Lula field, located in the Santos Basin, will achieve ...
Read More

(Stabroek News, 6.Sep.2018) — The signing of the Memorandum of Understanding (MoU) on Energy Sector Cooperation between the governments of Guyana and Trinidad and Tobago, paving the way for cooperation in oil and gas between the two states, will proceed as planned next week, despite a call by the city ...
Read More