NRGBriefs: Mexico Approves Mining Reform; Argentine Inflation Around 6.7%

(Energy Analytics Institute, 18.Apr.2022) — Energy briefs including Mexico’s Chamber of Deputies approving the Mining Law reform, which reserves exploration, exploitation and use of lithium to the state; Argentina’s inflation reaching 6.7% in March 2022, according to economists; power outages impacting citizens in Valencia, Venezuela in Carabobo state; and more.

LATIN AMERICA AND THE CARIBBEAN

Argentina

Heard on the Street: Argentina’s inflation in Mar. 2022 reached 6.7%, according to comments from economists interviewed during a televised broadcast of LN+.

Brazil

Petrobras kicks off binding phase to divest its 20% interests in 14 fields offshore in the US GOM which produced 10,400 boe/d (net) in 2021

Ecuador

— Starting Mon. 18 Apr. 2022, the Argus digital platform will publish daily spreads for Ecuadorian Oriente and Napo crudes, which will be available in the “Argus Americas Crude” and “Argus Crude” newsletters and will base their statistics on the data that will be delivered by EP PetroEcuador. The purpose is to make this info. transparent, which serves as a basis for marketing Ecuadorian crude internationally, the state oil entity announced 18 Apr. 2022 on its website

— Gov’t authorities informed artisanal mining holders operating in the provinces of El Oro, Loja and Zamora and whose permits are about to expire, that in compliance w/ Art. 15 of the Ministerial Agreement MERNNR-MERNNR-2020-0045 -AM, that they must present their intention to renew their permits 30 days prior to the expiration of the term of the granted permit, Ecuador’s Energy and Mines Ministry announced 18 Apr. 2022 in a statement on its website.

Mexico

— The Chamber of Deputies approved the Mining Law reform, which reserves exploration, exploitation and use of lithium to the state. At the proposal of the Morena Party, the state will also protect the rights of indigenous and Afro-Mexican citizens during the processes of exploration, exploitation, benefit and use of lithium, the newspaper La Jornada reported 18 Apr. 2022.

— Mexico’s President Andrés Manuel López Obrador said after the rejection of his electrical constitutional reform that he would not present a new initiative of this nature to focus on projects that remain to be finished during his term. López Obrador denied that the result in the Chamber of Deputies was a setback for his gov’t and instead called it “a triumph for democracy, because good politics does not always win,” the newspaper La Jornada reported 18 Apr. 2022.

Venezuela

— Power outages were reported over the long week end in Valencia in Carabobo state, according to reports 18 Apr. 2022 in the daily newspaper El Carabobeño. The thermoelectric generation at the Pedro Camejo plant located in Valencia’s industrial zone is reportedly below 300MW. Around 1,200MW of generation capacity is needed to stabilize the power outages, according to the media outlet.

____________________

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