NRGBriefs: Chevron Dividend; Guyana Oil Demand; Argentina’s LNG Growth

(Energy Analytics Institute, 27.Apr.2022) — Energy briefs including Argentina’s Economic Minister Martín Guzmán saying that the country could generate around $15bn per year from exporting LNG starting in 2027; Sempra waiting on the US DOE the approve two LNG export projects in Mexico; the BODs of US-based Chevron Corp. (NYSE: CVX) declaring a quarterly dividend of $1.42/share; TechnipFMC reports 1Q:22, cites subsea opportunities over the next 24 months in Brazil and Guyana; and demand for Guyana’s oil remaining strong.



— Development of LNG production and export projects in Argentina will require investments of around $10bn and could allow for the country to generate significant revenues in coming yrs, Argentina’s Economic Minister Martín Guzmán said 27 Apr. 2022 during an event organized by IDEA. The minister said Argentina could generate around $15bn/yr from LNG exports starting in 2027.


EAI Quick Takeaway: Demand for Guyana’s oil is projected to remain robust amid the attractiveness of the country’s advantaged low-carbon bbls and the recent geo-political events in Ukraine which have boosted demand worldwide for more oil production amid US sanctions on Russian oil and gas.


— The US Department of Energy (DOE) has two LNG projects in Mexico pending approval, the US LNG Association (LNG Allies) announced 27 Apr. 2022 in a stmt on its website. The projects relate to a 0.44 Bcf/d increase at Sempra’s ECA Phase II, which has been pending at the DOE since Sep. 2022 as well as Sempra’s 0.55 Bcf/d Vista Pacifico project, which has been pending at the DOE since Nov. 2020. Neither of the projects requires a FERC license, said LNG Allies, the only independent nonprofit organization focused solely on advancing the interests of the USLNG industry.

RELATED STORY: US DOE Approves Two LNG Export Projects


Energy Analytics Institute (EAI) Quick Takeaway: Venezuela’s President Nicolás Maduro announced on state television that the country continues to push fwd w/ efforts to become 100% digital. Despite the push, the OPEC country will have need to overcome severe headwinds related to connectivity problems linked to frequent power outages.



— The BODs of Chevron Corp. (NYSE: CVX) declared a qtrly dividend of $1.42/shr payable 10 Jun. 2022, to all holders of common stock as shown on the transfer records at the close of business 19 May 2022.

TechnipFMC plc (NYSE: FTI) reported 1Q:22 results. Total co. revenue in 1Q:22 was $1,555.8mn. Loss from continuing ops attributable to TechnipFMC was $42.3mn, or $0.09/shr diluted. These results included after-tax charges and credits totaling $29.3mn of expense, or $0.06/shr, the co. announced 27 Apr. 2022 in a stmt on its website.



— Japan’s Mitsui & Co has commenced sounding out potential buyers for its oil and gas JVs w/ Woodside Petroleum, in Western Australia, fueling expectations of a potential divestment, according to a rpt on 27 Apr. 2022 by The Australian Financial Review.


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