(Energy Analytics Institute, 13.Oct.2021) — Energy briefs including the IMF advising Argentina to lower its deficit and estimating Venezuela’s inflation at 2,700% this yr, Colombia’s mines and energy minister Diego Mesa saying the country is committed to advancing its decarbonization goals; EP PetroEcuador awarding export deals to Shell Western Supply and Trading Limited and Glencore Ltd.; and more.
LATIN AMERICA AND THE CARIBBEAN
— The IMF advised Argentina to accumulate reserves, lower its deficit and pay its debt in 4-10 yrs, the daily Clarín reported on 13 Oct. 2021.
— Transportadora Gas del Sur (TGS) aims to double its capacity for receiving and stabilizing gas condensates at its Tratayén plant, the key node for the development of natural gas from the Vaca Muerta formation, the daily Río Negro reported on 13 Oct. 2021. The expansion will allow TGS to receive up to 1,400 m3 of gas condensate per day versus 600 m3 per day currently.
— Bolivia’s National Hydrocarbons Agency (ANH) said it would guarantee the supply of fuel and gas to the population during the national work stoppage declared by civic committees and union organizations, the daily La Razón reported on 10 Oct.
— Hydrogen is Colombia’s commitment to consolidate the energy transition and advance with decarbonization goals, the South American country’s mines and energy minister Diego Mesa said 13 Oct. 2021 in a twitter post. “We have the regulatory and fiscal framework, a clear roadmap and the necessary potential to take advantage of the benefits that this energy source brings to Colombia.”
— The co. Monómeros Colombo-Venezolanos said there was no decree for the restructuring of the co., the daily El Tiempo reported on 13 Oct. 2021.
— EP PetroEcuador awarded Shell Western Supply and Trading Limited, which presented a differential of ($2.06/bbl), a contract for the export of 1,440,000 bbls of Oriente crude. The deal will generate estimated income of $100.2mn for the Ecuadorian state, PetroEcuador said 12 Oct. 2021 in an official stmt, citing co. GM Pablo Luna. The deal will include four shipments of 360,000 bbls +/- 5% each to be delivered in Oct. 2021.
— EP PetroEcuador awarded Glencore Ltd. w/ an export deal for 1,080,000 bbls of Napo crude. Glencore presented a differential of ($7.78/bbl), its (option A) and a premium of +$2.50/bbl, its (option B), in addition to accepting the terms and conditions of the contest. The deal will include one shipment of 1,080,000 bbls +/- 10% to be delivered in Oct. 2021.
— The IMF estimates that Venezuela’s inflation could reach 2,700% this yr, according to reports 12 Oct. 2021 in the daily El Nacional.
— The gov’t of Venezuela’s President Nicolás Maduro expressed interest in boosting Russian investments in the OPEC country, the daily El Nacional reported 13 Oct. 2021. Maduro’s gov’t is said to have not only offered Russian businessmen attractive offers, but also legal guarantees amid the ongoing US sanctions aimed at halting Venezuela’s oil sector.
By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.