(US Department of Energy, 9.Mar.2022) — Remarks as prepared for delivery by Secretary of Energy Jennifer M. Granholm at CERAWeek 2022 in Houston, Texas. Thanks so much Dan—I’m so glad to be here at CERAWeek for the second year in a row, this time in person! We could not be […]
Year: 2022
White House Tells Oil Industry ‘We Need More’ as Fuel Prices Soar
(FT.com, 9.Mar.2022) — The US is engaged in an increasingly frantic search to replace oil supplies lost from Russia as it tries to repair diplomatic rifts abroad and boost production at home to stop fuel prices from spiralling out of control. Jennifer Granholm, US energy secretary, on Wednesday told an […]
Maduro Eyes Venezuela Producing 2 MMb/d in 2022
(Energy Analytics Institute, 9.Mar.2022) — “Rain, thunder or lightning, Venezuela will produce 2 million barrels per day in 2022,” the country’s President Nicolás Maduro proclaimed during a national television broadcast. “Now, we are at one million barrels [per day] with our own lungs, but we are ready to reach two million […]
US Turns to Old Foe Maduro to Help Shut Off Russia’s Oil Revenues
(France24, 9.Mar.2022) — Venezuela released two jailed US citizens on Tuesday in an apparent goodwill gesture toward the Biden administration, which has reached out to the regime of Nicolas Maduro as it looks for help in shutting off Russia’s oil revenues amid the war in Ukraine. The release of US nationals […]
Colombia’s Mines and Energy Minister Gives Presser During CERAWeek
(Energy Analytics Institute, 9.Mar.2022) — Colombia’s Mines and Energy Minister Diego Mesa held a media press conference during CERAWeek by S&P Global. Excerpts from that 9 Mar. 2022 discussion follow. HYDROCARBON PRODUCTION — Colombia closed 2021 with an average production rate of about 730,000 b/d, the lowest rate one in […]
EQT Launches New US LNG Advocacy Campaign During CERAWeek 2022
(EQT Corporation, 9.Mar.2022) — EQT Corporation (NYSE: EQT) unveiled its plan to unleash U.S. LNG to address the energy needs of our allies and advance climate efforts by targeting the replacement of international coal. The release of the new plan comes as natural gas takes center stage at CERAWeek 2022. Toby Z. Rice, EQT […]
Meeks Statement on US Delegation to Caracas
(House Foreign Affairs Committee, 9.Mar.2022) — Representative Gregory W. Meeks, Chair of the House Foreign Affairs Committee, issued the following statement in response to reports that a delegation of senior Biden administration officials traveled to Venezuela to meet with President Nicolás Maduro: “I congratulate the Biden Administration on a successful […]
US Sanctions Hurt Our National Interests — and the Venezuelan People | Opinion
(Miami Herald, 9.Mar.2022) — Now that President Biden has announced a ban on imports of Russian oil, the United States should reevaluate sanctions against Venezuela, double down on targeted sanctions against individuals and reverse broader sanctions that hurt our national interests and the interests of the Venezuelan people and aid […]
Argentina to Attack Inflation While Pursuing Gas Opportunities
(Energy Analytics Institute, 9.Mar.2022) — Argentina’s economy grew around 10.3% in 2021 but one of the country’s primary headwinds relates to taming inflation, the country’s Economic Minister Martín Guzmán said from Houston, Texas. “The principal objective of the macroeconomic policy is to attack inflation in an economy that is recovering […]
Colombia in Talks with Coal Producers for Exporting Extra Supplies
(Reuters, 8.Mar.2022) — Colombia’s government has begun talks with the nation’s coal producers to increase exports after requests for extra supplies by European, Central American and Caribbean countries, the minister of Mines and Energy Diego Mesa told Reuters on Tuesday, as global energy flows are disrupted by the crisis in […]
Guyana Submits its Memorial on the Merits of its Case Against Venezuela
(Guyana Ministry of Foreign Affairs and International Cooperation, 8.Mar.2022) — Guyana submitted to the International Court of Justice in The Hague, its Memorial on the Merits of its Case against Venezuela – as required by the Court following its decision of 18 December 2020 confirming its jurisdiction to decide the […]
NRGBriefs: Cameron LNG Names New President
(Energy Analytics Institute, 8.Mar.2022) — Energy briefs including Cameron LNG announcing that Whitney “Whit” Fairbanks has been named president of the co. effective 9 Mar. 2022; a webinar on 7 Apr. 2022 titled “la metamorfosis venezolana y sus oportunidades,” with Econanalitica partner Asdrúbal Oliveros, Datanalisis President Luis Vicente León and international […]
Q&A with Colombia’s Mines and Energy Minister Diego Mesa
HOUSTON, TEXAS (Piero Stewart, Energy Analytics Institute, 8.Mar.2022) — Colombia’s head at the Mines and Energy Ministry, Diego Mesa Puyo, spoke briefly with Energy Analytics Institute (EAI) during CERAWeek by S&P Global in Houston about the South American country’s most important achievements during his tenure with the ministry, which winds […]
Ecopetrol Eyes Transmission Opportunities in the Americas, Especially the US
(Energy Analytics Institute, 8.Mar.2022) — Bogotá-based Ecopetrol is eying opportunities abroad where there are synergies between the transmission and oil and gas business. Ecopetrol’s move into the transition sector is part of the company’s decarbonization and electrification efforts which also include a continued focus on low-cost and low carbon opportunities. […]
US President Biden on the Return of American Detainees from Venezuela
(The White House, 8.Mar.2022) — Tonight—two Americans who were wrongfully detained in Venezuela will be able to hug their families once more. We are bringing Gustavo Cardenas and Jorge Fernandez home. Cardenas was arrested in 2017 as part of the so-called CITGO-6, and he has endured five years of hardship […]
Colombia Launches Offshore Wind Energy Roadmap
(Colombian Mines and Energy Ministry, 8.Mar.2022) — The Minister of Mines and Energy, Diego Mesa, launched this Tuesday the Offshore Wind Energy Roadmap in the margins of CERAWeek 2022, the most important event in the energy sector that takes place in Houston, Texas. Highlights: “Today represents a milestone for Colombia […]
Colombia’s President Iván Duque Márquez During CERAWeek
(Energy Analytics Institute, 7.Mar.2022) — Colombia’s President Iván Duque Márquez spoke in an interview with Daniel Yergin on 9 Mar. 2022 during CERAWeek by S&P Global. Excerpts from that discussion follow. Related to energy security and the energy transition: Iván Duque: In terms of energy security and energy transition, I […]
Colombia’s President Says Any Solution for Venezuela Must Come Through Elections
(Reuters, 7.Mar.2022) — Colombian President Ivan Duque on Monday said any solution for Venezuela’s future, whose humanitarian crisis under President Nicolas Maduro has hit neighboring nations with an influx of migrants, must come through genuine, transparent presidential elections. A top delegation from the U.S. government traveled to Caracas since the […]
Venture Global LNG Expands Partnership with Shell
(Venture Global LNG, 7.Mar.2022) — Venture Global LNG announced the execution of a new long-term 20-year Sales and Purchase Agreement (SPA) with Shell NA LNG LLC for the supply of 2 million tonnes per annum (MTPA) of LNG from Venture Global’s Plaquemines LNG export facility. This new deal builds on Shell’s existing […]
White House Pressed on Potential Oil Deals with Saudi Arabia, Venezuela and Iran
(Politico, 7.Mar.2022) — The White House on Monday pushed back on concerns about the Biden administration’s willingness to cut deals with countries like Saudi Arabia, Iran and Venezuela as it looks for ways to blunt skyrocketing fuel prices in the United States. White House press secretary Jen Psaki faced multiple […]
NRGBriefs: Venezuela Still Has Most Potential in LatAm to Boost Production
(Energy Analytics Institute, 6.Mar.2022) — Energy briefs including Colombia’s state owned Ecopetrol aims to boost combined oil and gas production to 730 Mboe/d in 2024 and between 800-850 Mboe/d in 2030; Venezuela producing 791.8 Mb/d in mid-January 2022; and Venezuela being the lone country in the Latin America and the […]
US Officials Hold Venezuela Meetings Amid Hunt for Alternative Oil Supplies
(Ft.com, 6.Mar.2022) — A high-level US delegation has met top government officials in Venezuela, as the world seeks alternative suppliers to replace Russian oil if western sanctions on Moscow are tightened after its invasion of Ukraine. Juan González, the top White House official on Latin America, was in Caracas on […]
US, Venezuela Discuss Easing Sanctions, Make Little Progress: Sources
(Reuters, 6.Mar.2022) — U.S. and Venezuelan officials discussed the possibility of easing oil sanctions on Venezuela but made scant progress toward a deal in their first high-level bilateral talks in years, five sources familiar with the matter said, as Washington seeks to separate Russia from one of its key allies. […]
Petrobras on Candidates Nominated for BODs and Fiscal Council
(Petrobras, 5.Mar.2022) — Petrobras informs that it has received an official letter from the Ministry of Mines and Energy with eight nominations for the Board of Directors and four nominations for the company’s Fiscal Council, and an official letter from the National Treasury Secretariat of the Ministry of Economy with […]
Petrobras on the Transfer of Participation in the Búzios Field
(Petrobras, 4.Mar.2022) — Petrobras, following up on the releases disclosed on 09/29/2021 and 10/04/2021, informs that it has signed a contract with its partner CNOOC Petroleum Brasil Ltda. (CPBL) for the assignment of 5% of its interest in the Production Sharing Contract of the Transfer of Rights Surplus, for the […]
Maduro: Venezuela Ready to Provide Oil Stability to World
(Telesur, 4.Mar.2022) — Oil prices have risen this week due to supply concerns amid international sanctions directed at Russia for its military operation in Ukraine. Venezuelan President Nicolás Maduro announced during a speech at the II Workers’ Congress his country’s readiness to provide oil and gas stability to the entire world. “The […]
Carbon Neutral Royalty Strategic Advisors
(Carbon Neutral Royalty Ltd., 4.Mar.2022) — Carbon Neutral Royalty Ltd. appointed Erik Solheim and John Mitnick as strategic advisors to the company. Brett Heath, Non-Executive Chairman of Carbon Neutral Royalty stated: “I am delighted to welcome Erik Solheim and John Mitnick as Strategic Advisors of the company. Erik has had an extensive career holding some of the highest […]
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NRGBriefs: CARICOM and SICA Unite at Belize Summit [PDF Downloads]
(Energy Analytics Institute, 4.Mar.2022) — Energy briefs including Argentina’s state-owned entity YPF reporting a major reduction in gross debt; officials from CARICOM and SICA coming together at a summit in San Pedro, Belize; Gustavo Petro continuing to lead in a new election poll compiled by Colombia Opina#10 and Invamer; Guyana […]
Venezuela Claims $80/bbl for its Crude
(Argus, 4.Mar.2022) — The Venezuelan oil ministry publicly reported the price it received for its crude for the first time in nearly two years this week, but observers say the price is significantly inflated. The government claimed it received more than $80/bl for crude during the week ended 4 March, […]
Aquadrill Announces Contract Award For The Vela
(Aquadrill, 4.Mar.2022) — Aquadrill LLC entered into a charter hire agreement with a subsidiary of Diamond Offshore Drilling, Inc. (the “Manager”) to provide the Vela, an MPD outfitted 7th generation drillship, for a one well drilling contract plus one well priced option for operations in the US Gulf of Mexico. The […]
Sovereign Bond Supports Chile’s Climate Ambitions
(Societe Generale, 4.Mar.2022) — Societe Generale was active bookrunner and joint sustainability structuring advisor of first-ever sustainability linked sovereign bond Societe Generale acted as an Active Bookrunner and Joint Sustainability Structuring advisor for a new USD 2bn 20-year sustainability-linked bond transaction for the Republic of Chile. The transaction references the Republic of Chile […]
NRGBriefs: Gustavo Petro Gaining In Popularity in Colombia
(Energy Analytics Institute, 3.Mar.2022) — Energy briefs including YPF selecting advertising and communication agency Sentidos to carry out its campaigns on different platforms; Colombia’s presidential hopeful Gustavo Petro boosting his appeal among voters amid Iván Duque’s rising unpopularity; Guyana’s gov’t continuing to review ExxonMobil‘s development plan for its Yellowtail project; […]
MPC Energy Solutions Releases 2021 Preliminary Unaudited Financials
(MPC Energy, 3.Mar.2022) — “2021 was an eventful year for MPC Energy Solutions. We made significant progress and expanded our broad portfolio of renewable energy assets in Latin America and the Caribbean. And now, in Q1 2022, we are reaching another important milestone, as our first projects become operational and start generating revenue,” […]
Aris Gold Reveals Financial and Operating Results for 2021
(Aris Gold, 3.Mar.2022) — Aris Gold Corporation (TSX: ARIS) (OTCQX: ALLXF) reports financial and operating results for the fourth quarter and full year ended 31 December 2021. All amounts are in US dollars, unless otherwise indicated. During 2021, Aris Gold made significant progress including the start of construction of the Lower Mine. While […]
MPC Energy Solutions Grows Presence in its Key LatAm and the Caribbean Markets
(MPC Energy Solutions, 3.Mar.2022) — “2021 was an eventful year for MPC Energy Solutions. We made significant progress and expanded our broad portfolio of renewable energy assets in Latin America and the Caribbean. And now, in Q1 2022, we are reaching another important milestone, as our first projects become operational and start generating […]
IMF and Argentine Authorities Reach Agreement on an Extended Fund Facility
(IMF, 3.Mar.2022) — An International Monetary Fund (IMF) team, led by Julie Kozack, Deputy Director of the Western Hemisphere Department, and Luis Cubeddu, Mission Chief for Argentina, issued the following statement today: “IMF staff and the Argentine authorities have reached a staff-level agreement on the economic and financial policies to […]
YPF Sees Fourth-Quarter Profit Dip by More Than Half
(Reuters, 3.Mar.2022) — Argentine state oil company YPF on Thursday posted a $247 million net profit in the fourth quarter 2021, a 54% drop compared to the year-ago period. The company said profit was hurt by high international prices that could not be fully passed onto local customers. However, revenue […]
Trinidad Minister Young Meets With Outstanding Venezuelan Ambassador
(MEEI, 2.Mar.2022) — Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, The Honourable Stuart R. Young, MP received a farewell courtesy call from His Excellency, Carlos Amador Perez Silva, Ambassador of the Bolivarian Republic of Venezuela; at the Ministry of Energy and Energy […]
ECO DEPOT Announces Achievements in the Energy and Carbon Reduction Sector
(Eco Depot, 2.Mar.2022) — Eco Depot, Inc. (OTC PINK: ECDP), a Nevada company, reported on the past twelve months of developments. Eco Depot has funded over $2.8mn USD into our subsidiaries supporting energy and carbon reduction projects. Bronya Canada Group secured a distribution deal within the electrical service market with Weiland Electric Inc, a large manufacturer and supplier of electrical solutions in Canada, the United States and Mexico.The Preferred Distribution Agreement with Weiland Electric places Bronya products in […]
Great Panther Reports FY 2021 Financial Results, Reiterates Outlook for 2022
(Great Panther, 2.Mar.2022) — Great Panther Mining Limited (TSX:GPR) (NYSE-A:GPL) announces consolidated financial results for the year ended 31 December 2021 (“FY 2021”), from its three wholly-owned mines: the Tucano Gold Mine in Brazil, and Topia and the Guanajuato Mine Complex (“the GMC”) in Mexico, both primarily silver mines. “The team at Great Panther has worked […]
SQM Reports Earnings for Twelve Months Ended 31 December 2021
(SQM, 2.Mar.2022) — Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported net income for the twelve months ended December 31, 2021 of US$585.5mn (US$2.05 per ADR), an increase from US$164.5mn (US$0.63 per ADR) reported for the twelve months ended 31 December 2020. Gross profit reached US$1,090.1mn (38.1% of revenues) for the twelve months ended 31 […]
Ryerson Acquires Apogee Steel
(Ryerson Holding, 2.Mar.2022) — Ryerson Holding Corporation (NYSE: RYI), a processor and distributor of industrial metals, announced its acquisition of substantially all of the assets of Apogee Steel Fabrication Incorporated, a sheet metal fabricator based in Mississauga, Ontario, Canada. Apogee has been serving customers in Canada and the U.S. for over 30 years. They are […]
ExxonMobil Details Plans Around Growth and the Energy Transition
(ExxonMobil, 2.Mar.2022) — ExxonMobil detailed plans at its annual Investor Day to deliver industry-leading earnings, cash flow growth and shareholder returns, and lead in the energy transition across a range of lower-emissions scenarios. “We are focused on leading the industry in safety, reliability, environmental performance, earnings and cash flow growth – […]
Leaders from Africa and LatAm’s Major Gas Producing Economies To Gather
(EnergyNet Ltd., 2.Mar.2022) — As gas again is discussed as a critical fuel for the energy transition, the most senior officials from Africa and Latin America’s natural gas economies are set to visit Washington DC on 16-18 March, to meet leading institutional and private sector investors at the Powering Africa Summit and Latin America Energy Forum […]
NRGBriefs: YPF’s 4Q:21 and FY:21 Webcast; Citgo Sales Process Moving Forward
(Energy Analytics Institute, 2.Mar.2022) — Energy briefs including Frontera spudding its first exploration well in the Espejo Block in Ecuador; Argentina’s YPF holding its 4Q:21 and FY:21 webcast to discuss financial and operational results; Exxon updating on its operations offshore Guyana during its virtual Investor Day 2022 webcast [PDF download]; […]
Ukraine War Could Wipe Out 1 MMb/d of Regional Demand
(Rystad, 2.Mar.2022) — War in Ukraine could result in as much as 1 million barrels per day (bpd) of oil demand being removed from the global market, Rystad Energy research shows. The human and material costs of the conflict have been catastrophic just seven days into the military operation. Russia […]
Frontera Announces 4Q:21 and YE:21 Results
(Frontera, 2.Mar.2022) — Frontera Energy Corporation (TSX: FEC) reported financial and operational results for the fourth quarter ended 31 December 2021. 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 continues to deliver on its strategic, […]
Exxon Raises Guyana’s Long Term Oil Production Outlook
(Reuters, 2.Mar.2022) — Exxon Mobil Corp (XOM.N) on Wednesday said it plans to have capacity to produce with partners 1.2 million barrels per day of oil and gas (boed) offshore of Guyana by 2027. That adds 200,000 boed of production capacity compared to a previous estimate by the consortia led by Exxon. […]
Presidential Candidate Gustavo Petro Raising Eyebrows in Colombia and Beyond
(Energy Analytics Institute, 1.Mar.2022) — Colombia’s so-called progressive lawmaker Gustavo Petro continues to top early polls ahead of presidential elections slated for 29 May 2022. A Petro victory would represent a drastic politically shift left of center and usher in a climate conscious leader openly against hydraulic fracking and new […]
Ecopetrol’s 2021 Earnings Distribution Proposal
(Ecopetrol, 1.Mar.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) hereby informs of the company’s 2021 earnings distribution proposal, approved by the Board of Directors of Ecopetrol, which will be submitted for the consideration of the General Shareholders’ Meeting that will take place on 30 March 2022: 1 A 60% dividend payout ratio established in […]