NRGBriefs: Venezuela’s Oil Minister on Oil Market Stability and Supply

(Energy Analytics Institute, 31.Mar.2022) — Energy briefs including the US Energy Department saying it is ready to execute the president of the United States’ authorization of an immediate release of 1 million barrels per day for 6 months from the Strategic Petroleum Reserve; and Trinidad and Tobago NGL Limited (TTNGL) reported total co. profits of $512.8mn in 2021 vs $6.4mn in 2020; and the SEOGS 2022 organizing committee agreeing to a 2-week extension for the SEOGS Technical Conference (STC 2022).

NORTH AMERICA

US

— “The US Energy Department is ready to execute the president of the United States’ authorization of an immediate release of 1 million barrels per day for 6 months from the Strategic Petroleum Reserve,” US Energy Secretary Jennifer Granholm announced 31 Mar. 2022 on Twitter. “We’re coordinating with our international allies and partners to join us in releasing additional oil from strategic reserves,” she added

AFRICA

South Africa

Gold Fields Limited (JSE,NYSE: GFI) published its Integrated Annual Report 2021 (IAR) and a number of associated reports on its website.

LATIN AMERICA AND THE CARIBBEAN

Ecuador

EP PetroEcuador General Manager Ítalo Cedeño and International Commerce Manager Pablo Noboa meet w/ Shell executives Jessica Montoya and Rodrigo Soares to discuss the purchase of Oriente oil through next yr, the state oil co. announced 31 Mar. 2022 on Twitter.

Shell and EP PetroEcuador entered into a long-term contract which stipulates the European co. deliver 56 cargoes of Oriente crude w/ an estimated total volume of 20.16 MMbbls through Dec. 2023, the state oil co. announced 31 Mar. 2022 on Twitter.

Guyana

— Last mth the Prosperity FPSO project passed another major milestone when it left dry dock and moved to the quay side for the topsides integration phase, SBM Offshore announced 31 Mar. 2022 on its website. Prosperity is the second Fast4Ward® FPSO built by SBM Offshore and the third FPSO for Guyana.

Suriname

— The SEOGS 2022 organizing committee has agreed to a 2-wk extension for the SEOGS Technical Conference (STC 2022). Interested parties can now submit their technical abstract by 15 Apr. 2022. Details here: https://suriname-energy.com/en/technical-conference-2022

Trinidad and Tobago

Trinidad and Tobago NGL Limited (TTNGL) reported total co. profits of $512.8mn in 2021 vs $6.4mn in 2020. This improvement drove EPS up to $3.31 at YE:21 vs $0.04 for YE:20, the co. announced 31 Mar. 2022 in an official stmt.

Venezuela

— “We ratify the union of OPEC+ within the framework of the 27th Ministerial Meeting for the stability of the energy market, and guarantee a reliable supply [of oil] to the peoples of the world without falling to pressures and blackmail by the countries of west,” Venezuela’s Oil Minister Tareck El Aissami said 31 Mar. 2022 in an official ministerial stmt.

RELATED STORY: 27th OPEC and non-OPEC Ministerial Meeting

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