(Cheniere, 5.Dec.2022) — Cheniere Energy, Inc. (NYSE American: LNG) has commenced a cash tender offer to purchase any and all of the $1.25bn aggregate principal amount of the outstanding 7.000% Senior Secured Notes due 2024 issued by Cheniere Corpus Christi Holdings, LLC (CCH) on the terms set forth in the […]
Year: 2022
Secretary of the Treasury on Announcement of Russian Price Cap
(US Treasury Department, 2.Dec.2022) — Secretary of the Treasury Janet L. Yellen released the following statement following the announcement of the price cap. “Together, the G7, European Union, and Australia have now jointly set a cap on the price of seaborne Russian oil that will help us achieve our goal […]
Limiting Kremlin Revenues with a Price Cap on Russian Oil
(US Treasury Department, 2.Dec.2022) — Following agreement by the 27 Member States of the European Union (EU), the members of the G7 (the United States, Canada, France, Germany, Italy, Japan, and United Kingdom) and Australia (collectively, the “Price Cap Coalition”) are joining the EU in adopting a price cap of […]
Could A Controversial Chevron Deal Be A Prelude To Venezuela’s Oil Renaissance?
(Forbes, 2.Dec.2022) — A video that state-owned oil giant Petróleos de Venezuela posted to its Twitter feed this week shows a jovial meeting between Oil Minister Tarek El Aissami and Javier La Rosa, Chevron’s CVX country head. The clip shows La Rosa arriving at what looks to be Aissami’s offices, the two laughing, […]
Hess and Guyana’s Gov’t Announce REDD+ Carbon Credits
(Hess, 2.Dec.2022) — Hess Corporation (NYSE: HES) and the Government of Guyana today announced an agreement for Hess to purchase high quality carbon credits for a minimum of $750mn between 2022 and 2032 directly from the Government of Guyana. This agreement will serve to support Guyana’s efforts to protect the country’s vast forests and provide capital […]
Guyana to Earn $750mn in First Carbon Credit Sale
(DPI, 2.Dec.2022) — Guyana is set to earn an income of some US $750 million for its carbon credit from Hess Corporation, His Excellency, Dr Mohamed Irfaan Ali announced Friday morning. The major deal between the government and the global energy giant will see the company purchasing 2.5 million carbon […]
UK and Allies Reveal Price Cap of $60/bbl on Russian Oil
(HM Treasury, 2.Dec.2022) — The UK, in partnership with the G7 countries, Australia and the European Union, have today agreed to set the price cap on Russian crude oil traded by firms shipping oil to third countries at $60. This price will be kept under review. The UK and its […]
Plenitude Strengthens Presence in Italy and Spain
(Eni, 2.Dec.2022) — Plenitude has signed an agreement to acquire 100% of PLT (PLT Energia S.r.l and SEF S.r.l. and their respective subsidiaries and affiliates), an integrated Italian group producing electricity from renewables and supplying energy to retail customers. Through this synergistic operation with its portfolio of renewable assets and […]
Chevron unlikely to invest more in Venezuela in short term
(Reuters, 1.Dec.2022, Words: 380) — Chevron Corp is unlikely to add investment in Venezuela in the next six months despite a recent U.S. license to allow it to expand its operations in the South American country, Chief Executive Michael Wirth said on Thursday. U.S. President Joe Biden’s administration last week […]
Welligence: Venezuela Sanctions Update
(Welligence, 1.Dec.2022) — Chevron Corporation has recently secured a license to renew limited operations within the country and source critical inputs necessary for processing crude, Welligence announced 1 December 2022 over LinkedIn. The terms offer restricted benefits to PDVSA Servicios Petroleros, SA as Chevron is restricted from providing payments to […]
INEOS Inks Deal for 1.4 mtpa LNG from Sempra Infrastructure
(INEOS, 1.Dec.2022) — INEOS signed a 20-year contract with Sempra Infrastructure for the supply of approximately 1.4 million tonnes per annum (mtpa) of Liquified Natural Gas (LNG) from Phase 1 of the Port Arthur LNG facility under development in Texas North America. Highlights: –The agreement includes a 20-year commitment for […]
Sempra Infrastructure Inks SPA with INEOS for Port Arthur LNG Phase 1
(Sempra, 1.Dec.2022) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), entered into a long-term sale and purchase agreement (SPA) with INEOS, for the supply of liquefied natural gas (LNG) from Phase 1 of its Port Arthur LNG project under development in Jefferson County, Texas. Under the SPA, INEOS has […]
Maduro Says Granting US Licenses to Chevron ‘Not Enough’
(Anadolu Agency, 1.Dec.2022) — Venezuelan President Nicolas Maduro said Wednesday that licenses and authorizations granted so far by the US to ease sanctions it imposed on Venezuela are “headed in the right direction” but are “not enough.” The easing of the oil embargo by the US government “undoubtedly goes in […]
Eased US Sanctions on Venezuelan Oil Provide Weak Supply Boost
(FT.com, 30.Nov.2022) — The ports of the US Gulf of Mexico coast will soon resume shipments that have been absent for more than three years: tankers full of Venezuela’s heavy crude oil. The first tanker carrying about 1mn barrels could set sail as soon as this month after the US […]
Ormat Supports Taiwan Geothermal Development
(Ormat, 30.Nov.2022) — Following the commercial transfer of the 4.2MW Yilan Qingshui Geothermal Power Plant in 2021, Taiwan will have more geothermal energy. Jieyuan Energy Development, Fengyu Green Energy and ORMAT signed a three-party cooperation agreement on the 23rd, and will jointly develop geothermal power plants with an installation capacity of […]
Election to Equinor’s Board of Directors
(Equinor, 30.Nov.2022) — On 30 November 2022 the corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) elected Haakon Bruun-Hanssen as new member to Equinor ASA’s board of directors. Haakon Bruun-Hanssen is elected as a new shareholder-elected member of the board of directors, replacing Bjørn Tore Godal. Bruun-Hanssen held the position as […]
Energy Analytics Institute’s NRGBriefs: November 2022
(Energy Analytics Institute, 30.Nov.2022) — Energy briefs as well as others related to finance and politics during November 2022 including Brazilian oil giant Petrobras launching its strategic plan for 2023-27; US Secretary of State Antony Blinken welcoming resumption of Venezuelan-led negotiations in Mexico City between the ruling party and opposition […]
Petrobras on Petrobras Day
(Petrobras, 30.Nov.2022) — Petrobras will hold Petrobras Day on 1 December 2022. There will be two webcasts, the first in Portuguese and the second in English, with presentations about our new Strategic Plan 2023-27. Petrobras will use the Microsoft Teams tool (link below) for the event. 1 December 2022 […]
Petrobras Concludes REMAN Divestment
(Petrobras, 30.Nov.2022) — Petrobras, following up on the release disclosed on 25 Aug. 2021, 10 Mar. 2022, 13 May 2022 and 30 Aug. 2022, informs that it has today finalized the sale of the shares of Refinaria de Manaus S.A. (Manaus Refinery), which was formed to hold Refinaria Isaac Sabbá […]
Petrobras Concludes Transfer of Interest in Búzios
(Petrobras, 30.Nov.2022) — Petrobras, following up on the releases disclosed on 29 Sep. 2021, 4 Oct. 2021, 4 Mar. 2022 and 24 Nov. 2022 informs that it concluded today the assignment of 5% of its interest in the Production Sharing Contract of the Surplus Volume of the Transfer of Rights, […]
Petrobras on Petros Plan
(Petrobras, 30.Nov.2022) — Petrobras informs that it was disclosed by the Fundação Petrobras de Seguridade Social (Petros) that its Deliberative Council approved the Deficit Equalization Plan (PED) for the year 2021 of the Renegotiated Petros Pension Plan (PPSP-R), because this plan has exceeded the legal limit of tolerance to technical […]
Petrobras on Sale of Thermal Power Plant
(Petrobras, 30.Nov.2022) — Petrobras, following up on the releases disclosed on 14 Aug. 2020 and 15 Jun. 2020, informs that its Executive Board has approved the termination of the competitive process for the sale of the Canoas Thermoelectric Plant (UTE Canoas). Despite the efforts made in this process, it was […]
Petrobras Approves Strategic Plan 2023-27
(Petrobras, 30.Nov.2022) — Petrobras informs that its Board of Directors approved, in a meeting held today, the Strategic Plan for the five-year period 2023-2027 (SP 2023-27). Throughout 2022, Petrobras delivered an operational and financial performance in line with its commitment to generate value for society and shareholders and in full […]
Maduro Calls for ‘Complete Lifting’ of Oil Sanctions
(AFP, 30.Nov.2022) — Venezuelan President Nicolas Maduro said the easing of an oil embargo on his country by the United States was not enough, and called Wednesday for the total lifting of sanctions. The United States over the weekend granted energy giant Chevron a license to resume some oil operations […]
Interoil Releases 3Q:22 Details
(Interoil, 29.Nov.2022) — In July 2022 Interoil Exploration and Production ASA successfully closed its share offering. The final number of shares that were subscribed and issued in the Share Issue is 14,357,554 at a subscription price of NOK 1.30 per share, resulting in gross proceeds of approximately NOK 18.7mn. Gross […]
Global Deepwater Production to Increase 60% by 2030: WoodMac
(WoodMac, 29.Nov.2022) — Global deepwater production will increase 60% by 2030, reaching 17 million barrels of oil equivalent per day (boe/d), according to a new report from Wood Mackenzie, a Verisk business. Wood Mackenzie’s report ‘Global deepwater 2022 state of the industry’, highlights the sector’s expansion from 6% of upstream […]
bpTT Starts Production from Cassia C Facility
(bpTT, 29.Nov.2022) — bp Trinidad and Tobago LLC (bpTT) today confirms its Cassia C development has safely delivered first gas.Cassia C is bpTT’s first offshore compression platform and its biggest offshore facility. It will enable bpTT to access and produce low pressure gas resources from the Greater Cassia Area. The […]
ConocoPhillips and QatarEnergy to Provide Reliable LNG Supply to Germany
(ConocoPhillips, 29.Nov.2022) — ConocoPhillips (NYSE: COP) and QatarEnergy signed two agreements to supply long-term liquefied natural gas (LNG) to Germany. The suppliers are joint venture companies established between ConocoPhillips and QatarEnergy to participate in the North Field East (NFE) and North Field South (NFS) projects, and the buyer is a […]
Trinidad Launches Roadmap for a Green Hydrogen Economy
(MEEI, 29.Nov.2022) — Today, the Ministry of Energy and Energy Industries (MEEI) launched “The Roadmap for a Green Hydrogen Economy in Trinidad and Tobago” which is the summary findings of the Study to “Establish a Green Hydrogen Market in Trinidad and Tobago”. The Launch was held at Hilton Trinidad and […]
Suriname: Demerara Bid Round 2022/2023
(SHI, 28.Nov.2022) — Staatsolie Hydrocarbon Institute (SHI), a wholly owned subsidiary of Staatsolie Maatschappij Suriname N.V., announced the launch of a competitive bid round of six new blocks in the currently sparsely explored Demerara acreage of Suriname. The blocks are located east to the current offshore discoveries and have a […]
Shell to Acquire Renewable Natgas Producer Nature Energy
(Shell, 28.Nov.2022) — Shell Petroleum NV, a wholly owned subsidiary of Shell plc, has reached an agreement with Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension to acquire 100% shareholding of Nature Energy Biogas A/S for nearly US$2bn (€ 1.9bn). The acquisition will be absorbed within Shell’s current […]
Frontera and CGX to Spud Wei-1 Offshore Guyana by Jan. 2023
(Frontera, 28.Nov.2022) — Frontera Energy Corporation (TSX: FEC) and CGX Energy Inc. (TSXV: OYL), joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana, announce its continued commitment to drill the Wei-1 well and that final preparations are complete in advance of spudding the Wei-1 well, which […]
APA Corp. Deems Awari Well on Block 58 Non-commerical
(APA Corp., 28.Nov.2022) — APA Corporation (Nasdaq: APA) provided an update on exploration activities in Block 58 offshore Suriname. Drilling operations have concluded at the Awari exploration prospect in the previously untested northwest portion of Block 58. The well was deemed noncommercial. APA holds 50% working interest, while TotalEnergies is […]
Petrobras on Shareholder Remuneration Policy, Gross Debt
(Petrobras, 27.Nov.2022) — Petrobras, regarding the news in the media about the Shareholder Remuneration Policy, approved by the Board of Directors in 2019 and improved in 2020 and 2021, clarifies that the payment of extraordinary dividends is provided for in the Policy. In addition, the company does not take on […]
OFAC Authorizes Certain Chevron Transactions in Venezuela
(Energy Analytics Institute, 26.Nov.2022) — The US Department of Treasury’s Office of Foreign Assets Control (OFAC) issued General License No. 41 which authorizes certain transactions related to Chevron Corporation’s joint ventures in Venezuela. ____________________ By Piero Stewart. © 2022 Energy Analytics Institute (EAI). All Rights Reserved.
US State Department: Joint Statement on Venezuela Negotiations
(US Department of State, 26.Nov.2022) — The following statement was released by Secretary of State Antony J. Blinken, the EU High Representative for Foreign Affairs and Security Policy Josep Borrell Fontelles, the Canadian Minister of Foreign Affairs the Honourable Mélanie Joly, and the United Kingdom Secretary of State for Foreign, […]
US Eases Venezuela Oil Sanctions After Gov’t, Opposition Ink Deal
(Al Jazeera, 26.Nov.2022) — The Biden administration on Saturday eased some oil sanctions on Venezuela after the government of Nicolas Maduro and the opposition signed a broad ‘social accord’ to create a UN-administered fund to provide humanitarian aid to the Venezuelan people. The agreement signed on Saturday in Mexico City […]
Chevron Can Resume Key Role in Venezuela’s Oil Output
(Reuters, 26.Nov.2022) — Chevron Corp on Saturday received a U.S. license allowing the second-largest U.S. oil company to expand its production in Venezuela and bring the South American country’s crude oil to the United States. The decision grants broader rights for the last big U.S. oil company still operating in […]
CGG Wins Multi-Year Extension of Dedicated Imaging
(CGG, 24.Nov.2022) — CGG has been awarded a multi-year contract extension by Brunei Shell Petroleum Company Sdn Bhd (BSP) to continue operating a dedicated seismic imaging center at its head office in Seria, Brunei. Peter Whiting, EVP, Geoscience, CGG, said: “This renewal of our dedicated center contract builds on six […]
Petrobras on $1.9bn Payment by CNOOC for Búzios Field Participation
(Petrobras, 24.Nov.2022) — Petrobras, following up on the releases of 29 Sep. 2021, 4 Oct. 2021 and 04 Mar. 2022, informs that it has received today the amount of R$ 10.3bn, equivalent to US$1.9bn by the PTAX exchange rate of 24 Nov. 2022, related to the assignment of 5% of […]
US Prepared to Authorize Chevron to Boost Venezuela’s Oil Output
(Reuters, 23.Nov.2022) — Chevron Corp could soon win U.S. approval to expand operations in Venezuela and resume trading its oil once the Venezuelan government and its opposition resume political talks, four people familiar with the matter said on Wednesday. A U.S. authorization for Chevron to help rebuild the country’s sagging […]
Sempra Announces Strategic Partnership with ConocoPhillips for Port Arthur LNG
(Sempra, 22.Nov.2022) — Sempra (NYSE: SRE) (BMV: SRE) announced that its subsidiary, Sempra Infrastructure, and ConocoPhillips (NYSE: COP) have executed a 20-year Sale and Purchase Agreement (SPA) for 5 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from Phase 1 of the proposed Port Arthur LNG project under development in Jefferson County, […]
South Africa: TotalEnergies Responds to Bloom and The Green Connection
(TotalEnergies, 22.Nov.2022) — In response to an open letter from Bloom dated 17 October 2022 concerning TotalEnergies‘ gas exploration project in South Africa, Patrick Pouyanné, Chairman and Chief Executive officer of TotalEnergies, wrote today to Bloom and The Green Connection. The content of Patrick Pouyanné’s letter is provided below: “I […]
Irpa: More Gas to Europe and Extended Life for Aasta Hansteen
(Equinor, 22.Nov.2022) — On behalf of the Irpa partnership, Equinor has submitted a plan for development and operation (PDO) for the Irpa gas discovery, formerly known as Asterix, to the Norwegian Minister for Petroleum and Energy. The development will ensure activity and stable gas deliveries from Aasta Hansteen until 2039. […]
NFE Finalizes Deals with Pemex Regarding Lakach Offshore Gas Field
(New Fortress Energy, 22.Nov.2022) — New Fortress Energy Inc. (NASDAQ: NFE) has finalized its agreements with Petróleos Mexicanos (Pemex), Mexico’s state-owned oil company, to develop and operate an integrated upstream and natural gas liquefaction project off the coast of Veracruz in Southeastern Mexico. The agreements comprise a long-term strategic partnership, expressly supported by His Excellency […]
SLB on Award for bp’s Cypre Project
(SLB, 22.Nov.2022) — SLB announced today an award to its OneSubsea® business and Subsea Integration Alliance of a large contract by bp for its Cypre gas project offshore Trinidad and Tobago. The contract scope covers the engineering, procurement, construction, and installation (EPCI) of the subsea production systems and subsea pipelines. The award represents Subsea […]
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Gaming Out the Proposed Price Cap on Russian Oil: KAPSARC [PDF Download]
(KAPSARC, 21.Nov.2022) — In a June 29, 2022, communique, the G7 countries agreed to explore ways to impose a price cap on Russian oil exports. The main mechanism would be a ban on the provision of insurance, logistics and financial services by G7 nations for cargoes sold above the price […]
Waiving a Law May Help New England Get Easier Access to NatGas
(Connecticut Public Radio, 21.Nov.2022) — On Oct. 27, Eversource Energy President and CEO, Joe Nolan, wrote a letter to President Joe Biden warning him of the potential power shortages across New England if the region experiences sustained extreme cold. In the letter, Eversource asked for a number of proactive measures […]
QatarEnergy, Sinopec Ink 27-year 4 MTPA LNG Supply Deal to China
(QatarEnergy, 21.Nov.2022) — QatarEnergy entered into a 27-year Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 4 million tons per annum (MTPA) of LNG to the People’s Republic of China. Under the terms of the SPA, the contracted LNG volumes will be […]
Lula to Start Job Interviews for Petrobras Overhaul, Sources Say
(Reuters, 21.Nov.2022) — Brazilian President-elect Luiz Inacio Lula da Silva begins interviews this week with candidates to run oil firm Petrobras, people familiar with the talks said, kicking off what may be a rocky few months for the state-controlled company. Lula, who takes office on Jan. 1, has already signaled […]