(Energy Analytics Institute, 5.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: plans to reactivate 77 wells in Argentina’s Río Negro region, EP PetroEcuador and Repsol Ecuador S.A. inking a deal for the use of a topping plant in Ecuador, Ecuador’s production reached 491,497 b/d on 1 July 2021 and long queues at petrol stations across OPEC member country Venezuela, and more.
Argentina
— At a meeting held of 30 June 2021, the board of directors of Argentina’s state entity YPF Sociedad Anónima appointed Ms. Soledad Nager as Alternate Market Relations Officer, the state company announced 30 June in an official statement.
— Approximately 77 wells are slated to be reactivated, which will generate investments of $8.7mn, the daily newspaper Río Negro reported on 5 July 2021, citing comments from the country’s Energy Secretariat for the Río Negro region, Andrea Confini.
Ecuador
— EP PetroEcuador and Repsol Ecuador S.A., inked an agreement to maximize the use of a Topping Plant located in the North Production Facilities (NPF) of Block 16 in the province of Orellana and operated by the Spanish company, according to details reported by Ecuador’s state entity on 1 July 2021 in an official statement.
— Juan Carlos Bermeo Calderón, the head of Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MERNNR by its Spanish acronym), and his Colombian counterpart Diego Mesa Puyo held a working meeting on 30 June 2021 to exchange information on the implementation of public policies related to the energy transition and the strengthening of the hydrocarbon sector based on the criteria of sustainability, efficiency, competitiveness, and transparency, the MERNNR announced 30 June in an official statement
— MERNNR’s head Juan Carlos Bermeo Calderón officially inaugurated Carlos Hernán Suárez Luna as the new Vice Minister of Hydrocarbons, effective as of 15 June 2021, MERNNR reported on 15 June in an official statement,
— Ecuador’s production reached 491,497 b/d on 1 July 2021, of which EP PetroEcuador accounted for 388,259 b/d, while private companies accounted for the remaining 103,238 b/d, according to the state entity’s daily production report. Ecuador’s SOTE and OCP were transporting a combined 519,336 b/d on the state day, according to EP PetroEcuador
Venezuela
— Long lines of vehicles are still being observed at the petrol stations across the South American country, with drivers waited various hours in certain regions, to refuel their tanks, the daily newspaper El Nacional reported on 1 July 2021.
— Venezuela’s inflation will be “closer to 1,600% for 2021,” the daily newspaper El Nacional reported on 30 June 2021, citing Ecoanalítica Director Asdrúbal Oliveros. Data from Venezuela’s Central Bank (BCV by its Spanish acronym) showed inflation in the OPEC country was close to 3,000% in 2020, Oliveros said.
— Venezuela’s oil and refining infrastructure continues to be cannibalized for parts to be reused at existing infrastructure or for divestment as scrap metal, according to details revealed to Energy Analytics Institute (EAI) and posted by Venezuelan oil union official Iván Freites on 3 July 2021.
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By Aaron Simonsky and Carlene Williams. © Energy Analytics Institute (EAI). All Rights Reserved.
