NRGBriefs: Venezuelan Production Goals [PDF Download]

(Energy Analytics Institute, 25.Oct.2021) — Energy briefs including Venezuela’s near-term oil production goals; Petrobras’ plans to host two 3Q:21 webcasts using Microsoft Teams; B2Gold Corp. entering into a binding agreement w/ West African Resources Limited; and more.

LATIN AMERICA AND THE CARIBBEAN

Brazil

— On 29 Oct. 2021 Petobras will host two webcasts, the first in Portuguese and the second in English, to present the co.’s results for the 3Q:21. Petrobras will use the Microsoft Teams tool (link below) for the event. 

29 Oct. 2021 (Friday)
Webcast – PortugueseWebcast – English
10:00 a.m (Brasília)11:30 a.m (Brasília)
9:00 a.m (New York)10:30 a.m (New York)
2:00 p.m (London) Click here for the access link3:30 p.m (London) Click here for the access link

Ecuador

— Effective 23 Oct. 2021, the price of extra and ecopais gasoline will be frozen at $2.55/gal, while the price for diesel for public transportation including tourism, education and heavy industry will be frozen at $1.90/gal, Ecuador’s President Guillermo Lasso revealed Oct. 22 in an official stmt.

Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) revealed assay results from a series of additional holes from ongoing resource growth and discovery drilling programs at its Warintza Project in SE Ecuador, the co. announced 25 Oct. 2021 in an official stmt. The eastern extension drilling has increased the strike length of Warintza Central to 1,350m where it now overlaps the western limits of Warintza East. SLS-33 was drilled from Warintza Central into a partially open volume to the north, returning 722m of 0.69% CuEq¹, including 426m of 0.85% CuEq¹ from 46m depth, infilling and extending mineralization to the north in this area. SLS-34 was collared at the northeastern limit of Warintza Central and drilled east into an entirely open volume, returning 660m of 0.47% CuEq, including 242m of 0.67% CuEq¹ from 52m depth, significantly extending mineralization to the east where it now partially overlaps Warintza East. SLSE-02, the second hole at Warintza East, was collared approximately 1,300m east of Warintza Central and drilled northwest toward SLS-34, returning 320m of 0.48% CuEq¹ from surface within a broader interval of 1,160m assaying 0.25% CuEq, partially overlapping SLS-34. SLSE-01 (previously reported September 27, 2021) was collared from the same platform as SLSE-02 but drilled to the southwest, returning 396m of 0.42% CuEq¹ from surface within a broader interval of 1,213m assaying 0.28% CuEq. Warintza East is the third major copper porphyry discovery within the Warintza cluster; each of the first two holes have returned long intervals of mineralization with the highest grades starting at or near surface reflecting the vertical zonation in the system

Mexico

Figure 1. Total magnetic intensity showing target areas identified to date and location of historic drill holes.

Silverton Metals Corp. (TSX-V: SVTN) (OTCQB: SVTNF) provided an update of exploration activities at the Pluton silver-zinc-lead project in the state of Durango, Mexico. Recent processing and 3D-modelling of geophysical data commissioned by the co. new target areas and features not previously identified, which are potentially related to mineralization, the co. said 25 Oct. 2021 in an official stmt. To date, magnetometry reprocessing has been completed while ZTEM and gravity modelling are in progress. Permitting is underway for a seismic test line scheduled to be surveyed before year-end. The seismic profile is expected to determine the depth to carbonate rocks that host silver-rich manto-chimney deposits (aka CRD’s or carbonate replacement deposits) in the district.

Trinidad and Tobago

— “It would be interesting to see the outcome of COP26 for Trinidad and Tobago, the Caribbean region and the globe at this critical juncture,” said Mark Loquan, President of The National Gas Company of Trinidad and Tobago on 25 Oct. 2021 in a post on LinkedIn.

Venezuela

Heard on the Street: The gov’t of Venezuela claims production is around 750,000 b/d with 1 MMb/d in sight by YE:21 with everything that is being done to maintain that level.

Heard on the Street: Venezuela, which under normal condition consumes 190,000 b/d of gasoline is currently consuming between 120,000-125,000 b/d, while the country’s refineries are producing over 100,000 b/d. PDVSA’s Puerto La Cruz refinery is said to be producing over 50,000 b/d of gasoline but there are still problems transporting the product from the refinery to the petrol stations.

NORTH AMERICA

Canada

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) entered into a binding agreement w/ West African Resources Limited (ASX:WAF) dated 25 Oct. 2021 whereby B2Gold will divest to WAF 100% of the issued and outstanding shares of Volta Resources (Cayman) Inc., the holder of an 81% interest in the Kiaka gold project located in Burkina Faso. Per the deal, B2Gold will receive: cash pmt of $450,000 paid on execution of the deal; $45,000,000 payable on closing of the deal, comprised of 50% cash and 50% in WAF ordinary shares; $45,000,000 payable on the earlier of (i) commencement of construction at the Kiaka project (provided such date will be a minimum of 6 mths from the date of the Kiaka deal), (ii) completion of a positive feasibility study at the Kiaka project, and (iii) 25 Oct. 2022, in cash or WAF ordinary shares, at B2Gold’s option but subject to any required WAF shareholder approval to issue WAF ordinary shares; and 2.7% net smelter return (NSR) royalty interest on the first 2,500,000 ounces of gold produced at the Kiaka project, and a 0.45% NSR royalty interest on the next 1,500,000 ounces of gold produced at the Kiaka project.

US

Western Midstream Partners, LP (NYSE: WES) released its second sustainability rpt focused on environmental, social, and governance (ESG) issues. The rpt details partnership’s commitment to the three ESG pillars – supporting sustainable environments, focusing on people, and operating responsibly, the co. said 25 Oct. 2021 in an official stmt.

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By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.