NRGBriefs: Petrobras on CVM; Morgan Stanley on Ecopetrol; GtE Guyana

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(Energy Analytics Institute, 4.Aug.2022) — Energy briefs including Petrobras receiving an official letter from the Securities and Exchange Commission of Brazil (CVM) answering questions sent by the company’s management concerning the nomination of candidates by the controlling shareholder to the board; and “Ecopetrol shares enjoyed a good start of the year amid a strong commodity environment, but de-rated in the past few months on the back of global market concerns and a consequential election result in Colombia, which could have negative implications for the oil sector,” according to Morgan Stanley.

LATIN AMERICA AND THE CARIBBEAN

Brazil

Petrobras rec’d an official ltr from the Securities and Exchange Commission of Brazil (CVM) answering questions sent by the co.’s mgmt concerning the nomination of candidates by the controlling shareholder to the BODs for the Extraordinary General Meeting (EGM) to be held on 19 Aug. 2022, the co. announced 4 Aug. in an official stmt.

Colombia

— “Ecopetrol shares enjoyed a good start of the year amid a strong commodity environment, but de-rated in the past few months on the back of global market concerns and a consequential election result in Colombia, which could have negative implications for the oil sector,” Morgan Stanley equity analyst Bruno Montanari and research associate Guilherme Levy wrote 4 Aug. 2022 in a research note. “We take a step back from potential macro and energy policy risks in Latin America, and prefer to remain on the sidelines until we get more visibility on actual energy policy in the new administration.”

Guyana

Hess, w/ its co-venturers Exxon and CNOOC in the offshore oil development in the Stabroek Block, is working to provide Guyana w/ clean burning natural gas for use to power Guyana’s future and projects like the Gas to Energy (GtE) Project, Hess revealed 4 Aug. 2022 in an official stmt.

GtE will be a transformational journey to supply Guyana with a cost effective, more reliable and cleaner source of energy that will drive the country’s industrial expansion.

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

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