(Ecopetrol, 7.Feb.2022) — Ecopetrol S.A. (BVC: ECOPETROL,NYSE: EC) announced its consolidated proven oil, condensate, and natural gas reserves (1P reserves, according to the standard international denomination), which include the results of Ecopetrol and its subsidiaries, as of 31 December 2021. HIGHLIGHTS: Proven oil and gas reserves increased by 13%, up to 2,002 […]
Year: 2022
A&V Oil Arbitration to be Laid in Parliament: Rowley
(Trinidad and Tobago Newsday, 6.Feb.2022) — The Prime Minister has instructed Energy Minister Stuart Young to lay the full details of the arbitration proceedings between with A&V Oil and Gas Drilling and Trinidad Petroleum Holdings Ltd (TPHL) in what was called the “fake oil” scandal He made the statement during […]
![Top NRG headlines from Argentina and Colombia to Venezuela [photos]](https://energy-analytics-institute.org/wp-content/uploads/2022/02/header-nrg-photo-recap-energy-analytics-institute.jpg)
Top NRG headlines from Argentina and Colombia to Venezuela [photos]
HOUSTON, TEXAS (Energy Analytics Institute, 5.Feb.2022) — Energy Analytics Institute‘s photo journalistic recap of 10 of our top headlines on Instagram in recent weeks. ____________________ By Ofelia Paredes. © Energy Analytics Institute (EAI). All Rights Reserved.
![The Energy Crunch: HSBC Global Research [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/02/61a6fe19c034a.jpg)
The Energy Crunch: HSBC Global Research [PDF Download]
(Energy Analytics Institute, 4.Feb.2022) — “Here we go again.  With inflation currently at multi-decade highs and uncertainty surrounding the inflation outlook already unprecedented, the last thing the recovering global economy needs is another leg higher in energy prices,” HSBC Global Research executives wrote 4 February 2022 in a research report […]
![Uruguay is at the Forefront in the Use of Renewable Energies [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/02/montevideo_grande.jpg)
Uruguay is at the Forefront in the Use of Renewable Energies [PDF Download]
(Uruguay XXI, 4.Feb.2022) — With an investment of more than eight billion pesos in the last decade, Uruguay is currently the second country in the world with the highest share of renewable energies. Our country is undergoing a strong and successful transformation in terms of energy policy, thanks to an […]
Petrobras Finalizes Divestment of Alagoas E&P Assets
(Petrobras, 4.Feb.2022) — Petrobras, following up on the releases disclosed on 30 June 2021 and 5 July /2021, concluded the sale of its entire stake in seven concessions denominated Alagoas Cluster, located in the state of Alagoas, to the company Origem Energia S.A. (former Petro+). The operation was concluded with […]
Petrobras Agrees to Draft SPA for UFN III
(Petrobras, 4.Feb.2022) — Petrobras, following up on the release disclosed on 21 February 2020, has reached an agreement for the draft of the Sale and Purchase Agreement for the sale of 100% of its Nitrogen Fertilizer Unit III (UFN-III), located in the city of TrĂŞs Lagoas, Mato Grosso do Sul, […]
Trinidad Petroleum Vows to Fix Debt after S&P Downgrade
(Trinidad and Tobago Newsday, 4.Feb.2022) — S&P Global Ratings has downgraded Trinidad Petroleum Holdings Ltd‘s (TPHL) rating from BB to B+ in its latest overview on Wednesday. The company attributed the downgrade to the delayed issuance of TPHL’s 2019 consolidated audited financial statements, and the tight maturity profile of upcoming […]
NRGBriefs: Maduro Says No Presidential Elections Until At Least 2025
(Energy Analytics Institute, 4.Feb.2022) — Energy briefs including Colombia signing a MOU w/ The Netherlands to create a hydrogen export channel; Venezuela’s President Nicolás Maduro saying there will be no presidential elections in 2024; and more. LATIN AMERICA AND THE CARIBBEAN Colombia — Colombia signed a MOU w/ The Netherlands […]
NRGBriefs: Argentina’s President Meets with Putin
(Energy Analytics Institute, 3.Feb.2022) — Energy briefs including Grupo EnergĂa Bogotá commencing assembly of the first tower of its north project in Chocontá (Cundinamarca); Argentina’s President Alberto Fernandez visiting Russia to discuss energy, industry, environmental and financing issues w/ his Russian counterpart Vladimir Putin; and EP PetroEcuador General Manager Äştalo […]
Petrobras Expresses Interest in Areas under Production Sharing Agreement
(Petrobras, 3.Feb.2022) — Petrobras expressed to the National Energy Policy Council (CNPE) the interest in the right of first refusal in blocks to be bid in the Permanent Offer System, under the Production Sharing Agreement, pursuant to Law 12,351/2010 and Federal Decree 9,041/2017. The company’s Executive Board approved the expression […]
Peru Facing Fuel Shortage after Suspending Repsol Operations, says PM
(Reuters, 3.Feb.2022) — New Peruvian Prime Minister Hector Valer said on Thursday the country was facing a fuel shortage due to a government decree that forbids Repsol SA (REP.MC) from unloading any new oil into a local refinery in the wake of a large oil spill last month. “We are starting the […]
Brazil Imports First Cargo of Guyanese Crude -Source
(Reuters, 3.Feb.2022) — An independent refiner has imported the first cargo of Guyanese crude oil into Brazil, according to tanker tracking data and a person familiar with the deal. Since oil exports began about two years ago, the tiny South American nation of fewer than 800,000 residents is becoming an […]
Turmoil as Peru Leader Sets 2nd Cabinet Overhaul This Week
(AP, 2.Feb.2022) — Turmoil in Peru’s government boiled even more Friday as President Pedro Castillo announced plans for a fourth Cabinet shakeup in six months, moving just three days after the third overhaul of his ministers that was quickly followed by revelations that his newest prime minister once faced domestic […]
Ecuador Eyes Key Oil Sector Actions in 2022
(Energy Analytics Institute, 2.Feb.2022) — The head of Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MENRNR), Juan Carlos Bermeo CalderĂłn, highlighted key goals the country looks to achieve in 2022. In 2022, the Andean country looks to renegotiate contracts for a voluntary migration to a participation scheme, develop the […]
Colombia Reports YE:21 Gas and Oil Production
(Energy Analytics Institute, 2.Feb.2022) — In December 2021, Colombia reported a 2.49% sequential rise in its natural gas production while its crude oil production fell 0.33%, according to Colombia’s National Hydrocarbon Agency (ANH). Colombia’s best opportunities to significantly boost both oil and gas production relate to exploratory wells planned offshore […]
NRGBriefs: Trinidad’s Gas and LNG Production Fell in Nov. 2021
(Energy Analytics Institute, 2.Feb.2022) — Energy briefs including Trinidad and Tobago’s Ministry of Energy and Energy Industries (MEEI) reporting gas, oil and LNG production figures for Jan.-Nov. 2021; and B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) announcing that the government of Mali recently granted B2Gold’s Malian subsidiary a […]
Guyana Produced 42.7 MMbbls in 2021 – Minister Singh
(DPI, 1.Feb.2022) — For the year 2021, Guyana produced 42.7 million barrels of light, sweet crude from the Liza One development in the prolific Stabroek Block. This was announced by Senior Minister in the Office of the President with responsibility for finance, Dr. Ashni Singh when he presented Budget 2022 […]
MENRNR Head Approves Strategic Plan 2021-25
(Energy Analytics Institute, 1.Feb.2022) — The head of Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MENRNR), Juan Carlos Bermeo CalderĂłn, approved the Strategic Plan for 2021-25. The plan is seen as fundamental to promote actions that ensure compliance with current public policies and institutional attributions, within a framework of […]
Petrobras on Receiving Last Installment of the Block BM-S-8 Sale
(Peterobras, 1.Feb.2022) — Petrobras, following up on the releases disclosed on 22 November 2016, 21 March 2018 and 9 December 2021, informs that it received from Equinor Brasil Energia Ltda. the amount of $475mn, equivalent to half of the third installment related to the sale of its stake in the […]
Equinor, Battelle to Explore Appalachian Basin CCS Potential
(Equinor, 1.Feb.2022) — Equinor has signed a memorandum of understanding (MOU) with leading science and technology firm Battelle to advance development of a decarbonized regional energy cluster in the tri-state region of Ohio, Pennsylvania, and West Virginia. “Our regional hub vision will meet tomorrow’s energy demands while maintaining America’s industrial […]
NRGBriefs: BCV Reports Income from FX Sales from PDVSA
(Energy Analytics Institute, 1.Feb.2022) — Energy briefs including Venezuela’s income from foreign currency sales to the Central Bank of Venezuela (BCV) obtained from PDVSA reaching $3.292bn in 2021; and ExxonMobil continuing to progress its low cost of supply deepwater developments in Guyana. LATIN AMERICA AND THE CARIBBEAN Guyana — ExxonMobil […]
ExxonMobil Earns $23bn in 2021, Initiates $10bn Share Repurchase Program
(Exxon, 1.Feb.2022) — Exxon Mobil Corporation announced fourth-quarter 2021 earnings of $8.9bn, or $2.08 per share assuming dilution, resulting in full-year earnings of $23bn, or $5.39 per share assuming dilution. Capital and exploration expenditures were $5.8bn in the fourth quarter and $16.6bn for the full year 2021, in line with […]
Hess Recognized for Diversity, Equity and Inclusion
(Hess, 1.Feb.2022) — Hess Corporation (NYSE: HES) achieved a top score of 100% on the Human Rights Campaign’s (HRC) Corporate Equality Index for 2022 and earned the designation as one of the Best Places to Work for LGBTQ+ Equality. For the third consecutive year, Hess also has earned a place on the Bloomberg Gender-Equality […]
Maersk Drilling Secures Contract Extensions for Maersk Viking in Malaysia
(Maersk, 1.Feb.2022) — Sarawak Shell Berhad/Sabah Shell Petroleum Corporation (SSB/SSPC) has executed two options on the previously announced contract that will employ the 7th generation drillship Maersk Viking offshore Malaysia. The first option will be novated to TotalEnergies EP Malaysia for the drilling of one deepwater well at the Tepat […]
Petrobras Inks Deal to Divest Potiguar Cluster
(Petrobras, 31.Jan.2022) — Petrobras, following up on the release disclosed on 28 January 2022, informs that it signed today with the company 3R Potiguar S.A., a wholly owned subsidiary of 3R Petroleum Ă“leo e Gás S.A., a contract for the sale of the totality of its stake (100%) in a […]
Iranian Oil Tanker to Discharge 2 mln Barrels in Venezuela
(Reuters, 31.Jan.2022) — An Iranian supertanker carrying about 2 million barrels of condensate this week began discharging at Venezuelan state-run oil company PDVSA‘s main oil port, according to a company document and tanker tracking services. PDVSA and state-run National Iranian Oil Company (NIOC) in the second half of last year started […]
Peru Bans Repsol from Unloading Oil until Further Notice after Spill
(Reuters, 31.Jan.2022) — Peru Environment Minister Ruben Ramirez said on Monday the government will temporarily suspend Repsol‘s (REP.MC) offshore oil unloading operations following a spill of over 10,000 barrels that has caused widespread environmental damage. Ramirez said the suspension of operations would last until the company “can offer technical guarantees that another […]
DeNovo Completes Zandolie Platform Fabrication
(MEEI, 31.Jan.2022) — DeNovo Energy Limited announced the completion of the local fabrication of the platform for its 2nd offshore field development, Zandolie. To mark the occasion, DeNovo hosted the Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young, M.P., […]
Frontera and CGX Find Oil at Kawa-1 Well Offshore Guyana
(Frontera, 31.Jan.2022) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), the majority shareholder of CGX and joint venture partner of CGX in the Petroleum Prospecting License for the Corentyne block offshore Guyana, announced that the Joint Venture has made a discovery at the Kawa-1 well, in the Corentyne Block. Gabriel de Alba, Chairman of Frontera’s Board of Directors and Co-Chairman […]
NRGBriefs: De Novo Prepares Zandolie’s Subsea Structure
(Energy Analytics Institute, 31.Jan.2022) — Energy briefs including EP PetroEcuador and Abastecedora Ecuatoriana de Combustibles S.A. (ABASTIBLES S.A.) signing a petroleum products contract; shares of Frontera Energy and CGX Energy halting on rumors of a find offshore Guyana at the Kawa well; and DeNovo’s Zandolie subsea structure being readied for […]
Orvana to Amend Technical Report for Don Mario Property in Bolivia
(Orvana, 30.Jan.2022) — Orvana Minerals Corp. (TSX: ORV) is issued the following details regarding its disclosure on the Don Mario Property. On 30 December 2020, the company filed a technical report effective 30 September 2020, on the Don Mario oxide stockpile project, located on the Don Mario Property (the “Stockpile Technical Report”). On 29 […]
Italy Top Court: Venezuela’s Ex-oil Czar Can’t be Extradited
(AP, 28.Jan.2022) — Italy’s highest court confirmed Friday that Venezuela’s former oil czar cannot be extradited to face corruption charges at home because of his country’s record in violating human rights, his Italian lawyer said. The Court of Cassation upheld a lower court’s ruling in September which recognized that Rafael […]
Canacol Energy Reveals Block Purchase Under Normal Course Issuer Bid
(Canacol, 28.Jan.2022) — Canacol Energy Ltd. (TSX:CNE) (OTCQX:CNNEF) (BVC:CNEC) purchased 5,307,700 Common Shares for CAD$3.15 per share under its normal course issuer bid (the “NCIB”), relying on the block purchase exemption under the NCIB rules. The purchase was made from an arm’s length third party via the TSX Exchange. Canacol’s […]
Petrobras Cancels Braskem Public Offering
(Petrobras, 28.Jan.2022) — Petrobras, following up on the releases disclosed on 16 December 2021 and 17 January 2022, informs that, together with NSP Investimentos SA – In Judicial Recovery, communicated to Braskem SA the decision to cancel the public offering for secondary distribution of shares owned by them, which would […]
Petrobras on Urucu Cluster Divestment
(Petrobras, 28.Jan.2022) — Petrobras, following up on the releases disclosed on 7 December 2020 and 1 February 2021, informs that it has unsuccessfully concluded negotiations with Eneva S.A. for the sale of all of its interest in a set of seven onshore production concessions, called the Urucu Cluster, located in […]
Petrobras Proved Reserves Reach 9.9 BN BOE in 2021
(Petrobras, 28.Jan.2022) — Petrobras discloses its proved reserves of oil, condensate and natural gas, according to SEC (US Securities and Exchange Commission) regulation, estimated at 9.88 billion barrels of oil equivalent (boe), as of 31 December 2021. Oil and condensate, and natural gas correspond to 85% and 15% of this […]
Colombia Front-Runner Petro’s No-More-Oil Pledge Sinks Ecopetrol Bonds
(Bloomberg, 28.Jan.2022) — Gustavo Petro, the front-runner to win Colombia’s presidential election in May, has repeatedly vowed he will halt oil drilling the day he takes office. To some observers, this is campaign bluster that would prove difficult to carry out in a country where oil is the No. 1 […]
SSR Mining Reports Fatal Vehicle Accident Near Puna in Argentina
(SSR Mining, 28.Jan.2022) — SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) regrets to report a fatal vehicle accident involving an employee of the company. The accident occurred on a public road 20 kilometers southeast of the Chinchillas mine site in Jujuy Province, Argentina at approximately 5:30 p.m. local time on 26 January 2022. The […]
Wärtsilä to Decarbonise Gold Mine Power Station in Suriname
(Wärtsilä, 27.Jan.2022) — The technology group Wärtsilä will supply a 7.8-megawatt (MW) / 7.8-megawatt hour (MWh) energy storage system to a leading gold mining company to help achieve its climate targets and decarbonisation goals at a mine in Suriname. This is the first utility-scale energy storage system to be built […]
NRGBriefs: Argentina’s Energy Secretariat and ENARGAS Talk Energy
(Energy Analytics Institute, 27.Jan.2022) — Energy briefs including Argentina’s Energy Secretariat DarĂo MartĂnez chatting w/ ENARGAS’ Federico Bernal Hermitte to discuss actions necessary to strengthen the energy sector; and the Bristow Group’s plans to reveal fiscal 3Q results on 3 Feb. 2022. LATIN AMERICA AND THE CARIBBEAN Argentina — Argentina’s […]
Caribbean Sustainable Energy Conference: Day 3 Highlights
(Energy Analytics Institute, 26.Jan.2022) — Selected highlights from the virtual Caribbean Sustainable Energy Conference hosted by the Energy Chamber of Trinidad and Tobago from 24-26 January 2022 including presentations from International Energy Agency (IEA) Lead Gas Analyst Peter Zeniewski, IDB Invest Investment Manager Alicia Taylor, and Proman Operations Managing Director […]
![NRGBriefs: Guyana Budget Speech; Peru Oil Leak [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/01/GUY_budget-2022-speech-header.jpg)
NRGBriefs: Guyana Budget Speech; Peru Oil Leak [PDF Download]
(Energy Analytics Institute, 26.Jan.2022) — Energy briefs including Chile’s Enap planning to invest $111.2mn in its Aconcagua Refinery; Guyana’s budget speech for the fiscal year 2022 by Dr. Ashni K. Singh; an oil leak offshore Peru; and the use of carbon capture and storage (CCS) to reduce carbon emissions. LATIN […]
Peru Considers Imposing Sanctions on Repsol Over Massive Oil Spill
(Reuters, 26.Jan.2022) — Peru’s Prime Minister Mirtha Vásquez said on Monday the government was looking at sanctioning a major local refinery owned by Spanish energy firm Repsol after an oil spill last week, and did not rule out suspending operations at the facility. Vásquez said some political parties were calling […]
Southern Cone Power Markets Primed for Dynamic Year
(WoodMac, 26.Jan.2022) — Last year proved how dynamic the gas and power markets in the Southern Cone are. And many uncertainties will be carried to 2022, especially regarding the extent of the impact from the region’s historic drought. Wood Mackenzie, a Verisk business (Nasdaq: VRSK) expects 2022 will mostly be […]
Guyana Budget 2022 Speech Highlights [PDF Download]
(Energy Analytics Institute, 26.Jan.2022) — Highlights from the budget speech by Guyana’s Honourable Dr. Ashni K. Singh, M.P. Senior Minister in the Office of the President with Responsibility for Finance on 26 January 2022 follow. Select highlights: — A total of 42.7 MMbbls were produced in 2021 compared with 27.2 […]
![Hess Reports 4Q:21 Results, Updates on Guyana [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/01/hess-hq-1-houston-energy-analytics-institute-scaled.jpeg)
Hess Reports 4Q:21 Results, Updates on Guyana [PDF Download]
(Hess, 26.Jan.2022) — Hess Corporation (NYSE: HES) reported net income of $265mn, or $0.85 per share, in the fourth quarter of 2021, compared with a net loss of $97mn, or $0.32 per share, in the fourth quarter of 2020. On an adjusted basis, the corporation reported a net loss in […]
Caribbean Sustainable Energy Conference: Day 2 Highlights
(Energy Analytics Institute, 25.Jan.2022) — Selected highlights from the virtual Caribbean Sustainable Energy Conference hosted by the Energy Chamber of Trinidad and Tobago from 24-26 January 2022 including presentations from Trinidad and Tobago’s Ministry of Planning and Development Camille Robinson-Regis, KBR Energy Global Energy Transition Advisor Kareemah Mohammed, and Kenesjay […]
Phoenix Park Buys Texas Terminal
(Phoenix Park, 25.Jan.2022) — On 21 January 2022, Phoenix Park Energy Marketing LLC (PPEM), a wholly owned subsidiary of Phoenix Park Gas Processors Limited (PPGPL), completed its acquisition of an NGL terminal located in Hull, Texas from Keyera Energy Inc. (KEI). KEI is a subsidiary of Keyera Corporation (Keyera), one […]
Powin Selects Celestica to Manufacture Its Next-Generation Energy Storage System
(Powin, 25.Jan.2022) — Powin LLC has selected Celestica Inc. to assemble its Centipede battery energy storage platform in Celestica’s Monterrey, Mexico facility. Full production will begin in Q2 2022. Celestica’s facility in Mexico is located in close proximity to a substantial and growing portion of Powin’s end market, providing customers with greater supply chain flexibility and responsiveness. The […]