NRGBriefs: Venezuela Petroleum Flows to Asia-Pacific Trending Downward

(Energy Analytics Institute, 25.Mar.2022) — Energy briefs including Trinidad and Tobago’s Minister of Energy and Energy Industries Stuart Young meeting with Touchstone Exploration executives about the company boosting production; Venezuelan petroleum (crude and product) flows to Asia-Pacific continuing a downward trend in March 2022; and Sempra (NYSE: SRE) (BMV: SRE) issuing a statement in response to the joint statement between the US and EU on European Energy Security.

NORTH AMERICA

Canada

Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) has been recognized in The Globe and Mail’s 2022 Report on Business Women Lead Here list. This annual editorial benchmark identifies best-in-class executive gender diversity in corp. Canada, the co. said 25 Mar. 2022 in an official stmt.

US

EQT Corp. (NYSE: EQT) achieved investment grade standard from two credit rating agencies: Standard & Poor’s Global Ratings upgraded EQT’s credit rating to BBB- w/ a stable outlook on 25 Mar. 2022; and Fitch Ratings upgraded EQT’s credit rating to BBB- w/ a stable outlook on 10 Mar. 2022. W/ investment grade ratings from these two credit agencies, “EQT expects an improvement in liquidity and reduced interest expense, while positioning the company to capitalize on the growing LNG market,” EQT said 28 Mar. 2022 in an official stmt.

Sempra (NYSE: SRE) (BMV: SRE) issued the following stmt in response to the joint stmt between the US and EU on European Energy Security: “We applaud today’s announcement by President Biden and European Union President Von der Leyen on the establishment of a Task Force on Energy Security. Sempra stands with our European allies as they pursue their energy security and sustainability objectives, and we look forward to collaborating with the U.S. Administration to expeditiously bring more LNG to market,” Sempra Chairman and CEO Jeffrey W. Martin said 25 Mar. 2022 in an official co. stmt.

LATIN AMERICA AND THE CARIBBEAN

Colombia

— The Andean Energy Virtual Forum covering energy insights for Argentina and Colombia will be held from 6-7 Apr. 2022.

Trinidad and Tobago

— Trinidad and Tobago’s Minister of Energy and Energy Industries Stuart Young announced 25 Mar. 2022 over Twitter that he held good meetings w/ Touchstone Exploration executives including Paul Baay and Xavier Moonan about plans for the co. to boost production in 2022-23, including onshore gas production.

Venezuela

— Venezuelan petroleum (crude and product) flows to Asia-Pacific fell to 1 MMbbls (40,000 b/d) in Mar. 2022 (thru 24 Mar.) vs. 3.9 MMbbls (139,300 b/d) in Feb. 2022 and 4.6 MMbbls (148,400 b/d) in Jan. 2022, according to Kpler data.

— Venezuela’s state oil company PDVSA plans to export of as much heavy oil as possible to the US if sanctions are eased to counter increased competition in Asia from Russian barrels, sources in Caracas tell Energy Analytics Institute (EAI).

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