(Energy Analytics Institute, 4.Apr.2022) — Energy briefs including ExxonMobil, Hess and CNOOC taking a final investment decision (FID) for their fourth development offshore Guyana called Yellowtail, cos.’ biggest yet w/ gross production capacity of 250,000 b/d starting in 2025; and the King Abdullah Petroleum Studies and Research Center (KAPSARC) saying Saudi Arabia’s vast renewable energy potential and natural gas reserves will support it in producing some of the cheapest green and blue hydrogen globally.
LATIN AMERICA AND THE CARIBBEAN
Argentina
— On 3 Apr. 2022 Argentina achieved a new record for energy supply from renewable sources, managing to cover 30.44% of the national demand, Argentina’s Energy Secretariat announced 4 Apr. on Twitter.
Brazil
— Societe Generale revealed that Luiz Sainz, formerly Country Head of SG Brazil, has been named Head of Latin America, a position created to lead the bank’s new strategic initiative for the region. Succeeding Mr. Sainz, Beatriz Lacaz has been named Country Head of Brazil, Societe Generale announced 4 Apr. 2022 in an official stmt.
— Petrobras rec’d on 4 Apr. 2022 from Nova Infraestrutura Gasodutos Participações S.A. (NISA), a co. held by Nova Infraestrutura Fundo de Investimentos em Participações Multiestratégia (FIP), an investment fund managed by Brookfield Brasil Asset Management Investimentos Ltda, and by Itaúsa S.A., a sum of $1bn. The amount corresponds to the last installment of the sale of 90% of Petrobras’ shares in Nova Transportadora do Sudeste (NTS) to FIP and Itaúsa. This last installment, of $850mn up to date, had already been scheduled for payment in 5 yrs after the closing of the transaction, which occurred on 4 Apr. 2017, the Brazil state oil giant said 4 Apr. in an official stmt.
Guyana
— ExxonMobil, Hess and CNOOC took a final investment decision for their fourth development offshore Guyana called Yellowtail. The project will be the cos’ biggest yet w/ gross production capacity of 250,000 b/d starting in 2025, Exxon and Hess said in separate official stmts. The project cost is approximately $10bn and will include six drill centers and up to 26 production and injection wells. Hess’ net share of development costs, excluding pre-sanction costs and FPSO purchase cost, is forecast to be approximately $2.3bn, of which approximately $210mn is expected in 2022, $430mn in 2023, $585mn in 2024, $390mn in 2025 and $295mn in 2026, the Houston-based oil co. said in its stmt.
RELATED STORY: ExxonMobil Makes Final Investmetn Decision on Fourth Guyana Offshore Project
RELATED STORY: Hess Sanctions Yellowtail Development, Offshore Guyana
Peru
— Peru’s gov’t issued a Declaration of a State of Emergency at 11:30pm on 4 Apr. 2022, which establishes mandatory social immobilization between 2am-11:59pm, effective 5 Apr., Defensoría del Pueblo announced in an official stmt.
Venezuela
— According to the Committee of People Affected by Blackouts, a body that tracks electricity supply interruptions and their effects in the absence of official Venezuelan data, almost half a million power failures or outages have been recorded in the OPEC country since the gov’t promised to recover the electrical system after the great blackout of 7 Mar. 2019, which lasted almost a wk, online media El Carabobeño reported on 4 Apr. 2022.
MIDDLE EAST
Saudi Arabia
— According to a new study on “The Economics and Resource Potential of Hydrogen Production in Saudi Arabia” by the King Abdullah Petroleum Studies and Research Center (KAPSARC), Saudi Arabia’s vast renewable energy potential and natural gas reserves will support it in producing some of the cheapest green and blue hydrogen globally.
NORTH AMERICA
Canada
— Array Marketing named Kevin Kerns as CFO, effective 1 May 2022, the co. said 4 Apr. 2022 in an official stmt.
US
— Murphy USA Inc. (NYSE: MUSA) will release preliminary 1Q:22 earnings results after the mkt close on Tue. 3 May 2022, followed by a conf. call at 10am CT on Wed. 4 May. Interested parties may participate by dialing 1-888-330-2384 and referencing conf. ID code 6680883.
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By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
