(Energy Analytics Institute, 6.May.2022) — Energy briefs including Brazil’s state oil giant Petróleo Brasileiro S.A. (Petrobras) reporting earnings before interest, taxes, depreciation and amortization of $15.1bn in 1Q:22; energy and other disintegration in the Latin America and Caribbean (LAC) region; APA Corporation and TotalEnergies said getting closer to achieving their […]
Year: 2022
Zacatecas Silver Receives Permits for 30 Drill Pads at El Cristo
(Zacatecas Silver, 6.May.2022) — Zacatecas Silver Corp. (TSXV: ZAC) (OTC: ZCTSF) (FSE:7TV) provided an update on the El Cristo Vein System located within the Zacatecas Property. Highlights: The Secretariat of Environment and Natural Resources of Mexico (SEMARNAT) has approved 30 drill permits at El Cristo which will allow drill targeting throughout the extensive […]
Exclusive-Guyana in ‘No Rush’ to Draft New Oil Production-Sharing Pact -Minister
(Reuters, 6.May.2022) — Guyana is in “no rush” to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output. The government of South America’s newest crude oil producer said in 2021 it […]
Venezuela’s Oil Exports Drop 8% in April amid Quality-linked Delays
(Reuters, 6.May.2022) — Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel monitoring data on Thursday. U.S.-sanctioned Venezuela recovered a portion of lost production last year, but crude shipments have been […]
Colombia to Promote Foreign Investment Opportunities in NYC Event
(ProColombia, 6.May.2022) — Colombia InsideOut, the country’s flagship event for the promotion of foreign investment abroad will be held next 10 and 11 May 2022, at the facilities of Citi‘s headquarters in New York City. Led by the Colombian Securities Exchange (bvc) and ProColombia, the government agency in charge of promoting […]
Inpex Starts Exploratory Ops Offshore Japan
(Inpex, 6.May.2022) — Inpex Corporation commenced exploratory drilling operations offshore Shimane and Yamaguchi prefectures in Japan on 5 May 2022 after carrying out preparation work through Inpex Sanin Offshore Development Co., Ltd., a subsidiary tasked with conducting exploration and development operations. The project involves conducting exploratory drilling surveys at a […]
wpd to Sell Offshore Wind Business to Global Infrastructure Partners
(GIP, 6.May.2022) — Global Infrastructure Partners (GIP), an independent infrastructure investor, and wpd AG, a project developer and independent renewables power producer (IRPP) for onshore wind, offshore wind and solar, signed definitive agreements for GIP to acquire 100% of wpd offshore GmbH, the offshore wind business of wpd. The transaction […]
AES Expands Renewable Energy Agreement with Microsoft to California Data Centers
(AES, 5.May.2022) — The AES Corporation (NYSE: AES) today announced a 20-year agreement with Microsoft to provide renewable energy to its data centers in California. The agreement expands upon prior renewable energy agreements between the two companies, with AES supporting Microsoft in its pursuit of its 100/100/0 by 2030 goal. Microsoft, one of the world’s largest purchasers of renewable energy, will […]
AES Reveals Deals to Provide 450 MW of Renewable Energy to Amazon
(AES, 5.May.2022) — The AES Corporation (NYSE: AES) announced it has entered into two renewable energy Power Purchase Agreements (PPAs) with Amazon. As part of the agreements, AES will deliver renewable energy in the CAISO (California Independent System Operator) market and source it from a combined 450 MW of solar […]
Petrobras Comments on Shareholders Remuneration
(Petrobras, 5.May.2022) — Petróleo Brasileiro S.A. (Petrobras) informs that its Board of Directors, at a meeting held today, approved the payment of a dividend in the amount of R$ 3.715490 per outstanding preferred and common share. The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that […]
Brazil’s President Calls Petrobras Profits a ‘Rape’
(Reuters, 5.May.2022) — Brazilian President Jair Bolsonaro on Thursday urged state-run oil company Petrobras not to raise fuel prices again, and compared the company’s profits to a “rape” of the country. The far-right leader said a new fuel price hike by Petroleo Brasileiro SA, as the company is formally known, […]
Ecopetrol says Fracking Could Boost Reserves by up to 15 Years
(Reuters, 5.May.2022) — The use of commercial fracking in Colombia could boost oil and gas reserves by between 12 and 15 years, majority state-owned oil producer Ecopetrol said on Thursday, adding it expects a ruling on the suspended environmental license for a fracking pilot project to come in June. Supporters […]
Sempra Announces 1Q:22 Earnings of $612mn
(Sempra, 5.May.2022) — Sempra (NYSE: SRE) (BMV: SRE) today announced first-quarter 2022 earnings of $612mn, or $1.93 per diluted share, compared to first-quarter 2021 earnings of $874mn, or $2.87 per diluted share. On an adjusted basis, the company’s first-quarter 2022 earnings were $924mn, or $2.91 per diluted share, compared to $900 million, or $2.95 per diluted share, in 2021. “At Sempra, we understand […]
Pan American Silver Reveals Sustainability Report for 2021
(Pan American Silver Corp., 5.May.2022) — Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) released its 2021 Sustainability Report, describing Pan American’s efforts and performance in the areas of environment, social and governance. A Spanish version of the report will be released soon. Highlights of Pan American’s 2021 sustainability performance include: Environment Reduced greenhouse […]
AES Gets Investment Grade Rating, Reaffirms 2022 Adj. EPS Guidance
(AES, 5.May.2022) — The AES Corporation (NYSE: AES) reported financial results for the quarter ended 31 March 2022. Strategic Accomplishments With investment grade credit rating from Moody’s, attained investment grade ratings from all three major ratings agencies Signed or awarded 1.1 GW of PPAs for new renewable energy projects in the first […]
Unlikely Exxon Guyana to Sustain Production Target for 2027
(Energy Analytics Institute, Special Contributor Millan Arcia Einstein, 5.May.2022) — New hydrocarbon discoveries offshore Guyana, were announced last week totaling 31 so far. Exxon-Guyana claims resources around 11,000 million barrels (MMbbls), although as previously said, net crude oil recoverable reserves will ultimately be not far from the 4,400 to 3,100 […]
Murphy Reports 1Q:22 Net Loss of $113mn
(Murphy, 4.May.2022) — Murphy Oil Corporation (NYSE: MUR) announced its financial and operating results for the rst quarter ended 31 March 2022, including a net loss attributable to Murphy of $113mn, or $0.73 net loss per diluted share. Adjusted net income, which excludes discontinued operations and other one-o items, was […]
Petrobras to Invest $5.5bn in Extracting Activity in the Next Five Years
(Petrobras, 4.May.2022) — A Petrobras executive highlighted new discoveries in oil and gas during Bratecc meeting, a parallel event to the Offshore Technology Conference (OTC), in Houston (USA). The recent pre-salt oil discoveries, in the Central Alto de Cabo Frio and Aram areas, open up a scenario of new extraction […]
Ecopetrol on Sanction Imposed by ANLA Related to Poliducto Andino
(Ecopetrol, 4.May.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that the Agencia Nacional de Licencias Ambientales (ANLA) notified on 3 May 2022 through Resolution 881 that Ecopetrol had been declared responsible of undertaking during the construction phase of the hydrocarbon transportation Poliducto Andino project, works that were not covered […]
APA Corp. Reports 1Q:22 Production of 404,000 BOE/D
(APA Corporation, 4.May.2022) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first-quarter 2022. APA reported net income attributable to common stock of $1.9bn, or $5.43 per diluted share. When adjusted for items that impact the comparability of results, most notably the gains on the closing […]
Petrobras Concludes Divestment of Bahia Terra Cluster
(Petrobras, 4.May.2022) — Petrobras, regarding the news published in the media, informs that it has concluded the new round of the sale process binding phase of the onshore production fields located in the Recôncavo and Tucano Basin, in the state of Bahia, jointly called Bahia Terra Cluster. The consortium formed […]
Talos Energy Reveals 1Q:22 Results, Increases Borrowing Base
(Talos, 4.May.2022) — Talos Energy Inc. (NYSE: TALO) announced its operational and financial results for the first quarter of 2022 and the increase of its borrowing base under the company’s reserves-based lending (“RBL”) credit facility as part of its semi-annual redetermination process. Key Highlights: Production of 63.2 thousand barrels of oil […]
Ecopetrol and Petrobras spud Uchuva-1 Well offshore Colombia
HOUSTON, TEXAS (Energy Analytics Institute, 4.May.2022) — State oil companies Ecopetrol and Petrobras spud the Uchuva-1 well offshore Colombia’s Caribbean coast in the Tayrona Block. Uchuva-1 will test the hydrocarbon structure located offshore La Guajira and investigate exploration potential in a new area, Bogotá-based Ecopetrol announced 4 May 2022 in […]
Höegh LNG Inks Two FSRU Deals in Germany
(Höegh LNG, 4.May.2022) — Höegh LNG Holdings Ltd. signed binding implementation agreements with the German Federal Ministry for Economic Affairs and Climate Action to charter out two FSRUs from its fleet for operations in Germany for 10 years. The detailed FSRU contracts are scheduled to be completed by September/October, and […]
NRGBriefs: Marathon’s Equatorial Guinea Output; Murphy on Brazil and Mexico
(Energy Analytics Institute, 4.May.2022) — Energy and political briefs including Marathon Oil reporting 1Q:22 production from Equatorial Guinea of 64 net Mboe/d; the US providing over $6mn in additional humanitarian assistance to support Venezuelan refugees and migrants, and their host communities in Chile; and US Department of State Assistant Secretary […]
Marathon Oil Reports 1Q:22 Net Income of $1.3bn
(Marathon, 4.May.2022) — Marathon Oil Corporation (NYSE:MRO) reported first quarter 2022 net income of $1,304mn, or $1.78 per diluted share, which includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. The adjusted net income was $749mn, or $1.02 per diluted share. Net operating cash […]
Talos, Carbonvert and Chevron Propose JV to Enhance a CCS Project
(Talos, 3.May.2022) — Talos Energy Inc. (NYSE: TALO), through its Talos Low Carbon Solutions division, Carbonvert, Inc. and Chevron U.S.A., Inc., through its Chevron New Energies division, announced a memorandum of understanding (MOU) for an expanded joint venture to develop the Bayou Bend CCS offshore carbon capture and sequestration (CCS) hub […]
Livent Reports 1Q:22 Revenue of $143.5mn
(Livent Corporation, 3.May.2022) — Livent Corporation (NYSE: LTHM) reported results for the first quarter of 2022. Revenue was $143.5mn, up 17% from the fourth quarter of 2021 and 56% higher compared to the prior year. Reported GAAP net income was $53.2mn, 609% higher than the previous quarter, and 28 cents per diluted share. Adjusted EBITDA was $53.3mn, […]
Iranian Oil Minister Meets Venezuela’s President Maduro in Caracas
(AFP, 3.May.2022) — Iran’s oil minister has paid an official visit to ally Venezuela to meet President Nicolas Maduro and discuss ways to “overcome” the effects of US sanctions against both nations, officials said. “I received His Excellency Javad Owji, Oil Minister of the sister Islamic Republic of Iran,” Maduro […]
TTNGL Releases 2021 Annual Report
(TTNGL, 3.May.2022) — ‘Successful, Steadfast, Secure’ is a fitting theme for the TTNGL Annual Report 2021 as the Company’s financial performance reflect a major uplift of 373.6% in profit after tax over 2020 (excluding impairment reversal). The report, which was published to TTNGL’s website on 30 April 2022, shows that […]
Frontera Reports 1Q:22 Net Income of $102.2mn
(Frontera, 3.May.2022) — Frontera Energy Corporation (TSX: FEC) reported financial and operational results for the first quarter ended 31 March 2022. All financial amounts in this news release are in United States dollars, unless otherwise stated. Gabriel de Alba, Chairman of the Board of Directors, commented: “Frontera continued to deliver strong performance results […]
ESC Partners and ENCO Utility Services Join Forces
(ESC Partners, 3.May.2022) — ESC Partners, premier choice for collaborative Smart City and Utility Transformation projects, is excited to announce its strategic partnership with ENCO Utility Services, a turnkey provider of bundled utility services for 150+ municipal and private utilities. ENCO, the leading provider of customer and utility services in the […]
Ecopetrol to Release 1Q:22 Results, Hold Quarterly Calls
(Ecopetrol, 3.May.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announces that on Tuesday 10 May 2022, after market close, it will release its financial and operating results for the first quarter 2022. On Wednesday, 11 May 2022, Ecopetrol’s senior management will host two conference calls to review the results, one in Spanish and the […]
Venezuela and Iran to Deepen Oil and Defense Ties
(Energy Analytics Institute, 2.May.2022) — Venezuela’s Oil Minister Tareck El Aissami held a working meeting in Caracas with his Iranian counterpart Javad Owji to discuss deepening bilateral cooperation mechanisms between both countries in the oil and defense sectors. The ministers also reviewed different opportunities for bilateral cooperation in the petrochemical […]
Dell Technologies Solar Community Hubs Bring Technology to Remote Communities
(Dell Technologies,2.May.2022) — Dell Technologies (NYSE:Dell), in partnership with Computer Aid, Intel and Microsoft, announced its Solar Community Hubs strategy, marking an evolution in its established Solar Learning Labs program. Moving beyond technology access for education alone, the hubs improve access to technology, healthcare and workforce skills for communities in remote areas around the world. […]
NRGBriefs: FMC LatAm Sales; Rig Mobilized in Suriname
(Energy Analytics Institute, 2.May.2022) — Energy briefs including FMC Corp.’s LatAm sales rising 31% YOY in 1Q:22 “driven by robust volume growth in soybean, corn and sugarcane as well as price rises and a 6% currency tailwind”; Enel Américas (NYSE: ENIA) filing its 2021 annual report on Form 20-F w/ the […]
Argentina Lithium Delineates Potential Extent of Aquifers at Rincon West
(Argentina Lithium, 2.May.2022) — Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) announces the completion of geophysical surveys at its Rincon West lithium project in Salta Province, Argentina. The results of these deep-seeking geophysical studies expand the potential extent of conductive brine aquifers at the project and will be used […]
Livent to Double its Ownership Stake in Nemaska Lithium to 50%
(Livent Corp., 2.May.2022) — Livent Corporation (NYSE: LTHM) announced that it has agreed to double its ownership interest to 50% in Nemaska Lithium Inc., a fully integrated lithium hydroxide development project located in Québec, Canada. Livent will issue 17,500,000 shares of its common stock to The Pallinghurst Group and its investors […]
FMC Corp. Reports 1Q:22 Results, 31% Y-O-Y Rise in LatAm Sales
(FMC Corp., 2.May.2022) — FMC Corporation (NYSE: FMC) reported first quarter 2022 revenue of $1.35bn, an increase of 13 percent versus first quarter 2021, driven by strong demand and global pricing actions. Excluding a 3 percent headwind from foreign exchange, year-over-year sales grew 16 percent organically. On a GAAP basis, the company reported […]
Astra Drills Multiple Gold Intercepts at Pampa Paciencia Project, Chile
(Astra Exploration, 2.May.2022) — Astra Exploration Inc. (TSXV: ASTR) provided results from the first 11 of 30 completed drill holes at the Pampa Paciencia gold-silver project in northern Chile. PPRC-22-12: 14.48 grams per tonne (g/t) gold and 39.7 g/t silver over 3 metres downhole (mDH) within a broader zone of 2.71 g/t […]
Agnico Eagle Reveals Acceptance by TSX of Normal Course Issuer Bid
(Agnico Eagle Mines Limited, 2.May.2022) — Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) received approval from the Toronto Stock Exchange (the “TSX”) of Agnico Eagle’s notice of intention to make a normal course issuer bid (the “NCIB”). Under the NCIB, Agnico Eagle may purchase for cancellation, on the open market at […]
Avino Grants Option to Endurance Gold to Acquire Olympic Claims
(Avino Silver, 2.May.2022) — Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6) announced that in line with its strategic plans to become an intermediate producer in Mexico, the company has granted Endurance Gold Corporation (EDG – TSX.V; ENDGF – OTC Pink; 3EG – Berlin Open Market, or “Endurance”) […]
Noble Reports 1Q:22 Results, Revenue Backlog of Approximately $1.9bn
(Noble, 2.May.2022) — Noble Corporation (NYSE: NE) reported first quarter 2022 results. Robert W. Eifler, President and Chief Executive Officer of Noble Corporation, stated “Our strong operational performance, highlighted by the successful commencement of operations for the Noble Gerry de Souza in Suriname, coupled with significant contracting success across the fleet, sets the stage […]
Guyana Aims to Avoid Oil Curse by Spending on Health and Education
(FT.com, 2.May.2022) —The president of Guyana, the world’s fastest-growing economy, is inviting investors to back his ambitious vision to transform the small South American country into a regional health, education and transport hub with the help of burgeoning oil wealth. “We’re investing tremendously in healthcare. and we’re investing heavily in […]
Coterra Energy Reports 1Q:22 Results, Announces Quarterly Dividend
(Coterra, 2.May.2022) Coterra Energy Inc. (NYSE: CTRA) reported first-quarter 2022 financial and operating results. On October 1, 2021, Coterra announced that the merger involving the company, which was formerly named Cabot Oil & Gas Corporation, and Cimarex Energy Co., was completed. Referenced results for the three months ended 31 March 2021 reflect only legacy Cabot. Referenced […]
TechnipFMC adds additional contract for Yellowtail development
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 2.May.2022) — TechnipFMC has been awarded an additional contract and received notice to proceed by ExxonMobil affiliate Esso Exploration and Production Guyana Limited for its Yellowtail development in the Stabroek Block offshore Guyana. The newly announced significant(1) flexibles contract covers 6 risers which […]
Petrobras Starts Production from FPSO Guanabara in the Mero Field
(Petrobras, 2.May.2022) — Petrobras informs that, on 30 April 2022, it started producing oil and natural gas through FPSO Guanabara, the first definitive production system installed in the Mero field, in the Santos Basin pre-salt. The platform, an FPSO (floating unit for the production, storage, and transfer of oil and […]
New Gold Reports 1Q:22 Results
(New Gold, 2.May.2022) New Gold Inc. (TSX: NGD) (NYSE: NGD) reports first quarter results for the company as of 31 March 2022. The company will host a conference call and webcast today at 8:30 am Eastern Time to discuss the first quarter consolidated results (details are provided at the end of this news release). Consolidated […]
Libra Consortium Starts Production at Mero Field’s FPSO Guanabara
(Shell Brasil, 2.May.2022) — Shell Brasil Petróleo Ltda., a subsidiary of Shell plc, announces the start of production of the FPSO Guanabara in the Mero field, offshore Santos Basin in Brazil. The FPSO Guanabara, which while under construction was also known as Mero-1, has an installed capacity of 12 million cubic […]
Hunt Oil on Solicitation for its 6.375% Senior Notes
(Hunt Oil, 2.May.2022) — Hunt Oil Company of Peru L.L.C., Sucursal del Perú (HOCP) received the consents necessary to effect the Amendments to the indenture governing its 6.375% Trust Enhanced Senior Notes due 2028 (CUSIP Nos.: Rule 144A: 445640 AB1, Regulation S: P5300P AB9), (ISINs: Rule 144A: US445640AB18, Regulation S: […]