(Energy Analytics Institute, 31.Aug.2022) — Diamond Offshore Drilling, Inc. (NYSE: DO) revealed that Inpex Operations Australia Pty Ltd entered into a new contract to utilize the Ocean Apex for work on the Northwest Shelf of Australia. The contract is expected to start in the fourth quarter of 2023 in direct continuation […]
Year: 2022
EAI NRGBriefs Aug. 2022: Datanalisis, Petrobras Sempra Foundation, Diamond Offshore
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Aug.2022, Words: 1,699) — Energy briefs as well as others related to finance and politics during August 2022 including Petrobras announcing firm well commitments to drill exploratory wells in 2023-24; Sempra Foundation and GRID Alternatives advancing energy access for orphans and migrant youth […]
Aquadrill Announces Charter Hire Agreement for the Vela
(Aquadrill, 31.Aug.2022) — Aquadrill LLC has extended a charter hire agreement with a subsidiary of Diamond Offshore Drilling, Inc. to provide the company’s Vela rig, an MPD outfitted 7th generation drillship, for operations in the US Gulf of Mexico for a drilling contract with a minimum duration of 225 days, plus […]
FPSO Brazil Congress 2022 Returns in November!
(FPSO Network c/o Energy Analytics Institute, 31.Aug.2022) — Energy Analytics Institute (EAI) is proud to be a supporting partner for the upcoming FPSO Brazil Congress 2022. This event will be happening from 7-9 November 2022 at Rio Palace Othon, Rio de Janeiro, Brazil. Visit the website: https://www.fpsonetwork.com/events-fpsobrazilcongress As market trends continually evolve, […]
BHP, Caterpillar, and Finning to Replace Haul Truck Fleet in Chile
(Caterpillar, 30.Aug.2022) — BHP Group Limited (NYSE: BHP), Caterpillar Inc. (NYSE: CAT), and Finning International Inc. (TSX: FTT) announced an agreement to replace BHP’s entire haul truck fleet at the Escondida mine, the world’s largest copper producer, located in the Antofagasta Region, northern Chile. This agreement is part of the strategic equipment […]
Houston American Energy Provides Update on Operations in Colombia
(Houston American Energy, 30.Aug.2022) — Houston American Energy Corp. (NYSE American: HUSA) today provided an update with respect to 2022 operations and near term plans on the CPO-11 Block in Colombia. Houston American’s interest in the CPO-11 Block, and wells thereon, is held through our ownership interest in Hupecol Meta, […]
Schlumberger, Aker Solutions and Subsea 7 Create Joint Venture
(Schlumberger, 30.Aug.2022) — Schlumberger, Aker Solutions and Subsea 7 announced an agreement to form a joint venture to drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time. The agreement will bring together a portfolio of innovative technologies such as subsea gas compression, all-electric […]
![Suriname-Guyana Basin Gas Resources Estimated at 14 Tcf [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/04/suriname-cover-source-staatsolie.png)
Suriname-Guyana Basin Gas Resources Estimated at 14 Tcf [PDF Downloads]
(Energy Analytics Institute, 29.Aug.2022) — A subsurface Suriname-Guyana Basin-wide concept study was performed incorporating historical well data and highlighting the presence of great quantities of gas resources. These estimated resources are in order of 14 Tcf with a 90% probability, state-owned Staatsolie announced 29 Aug. 2022 in its 2021 annual […]
CGG, PGS and TGS Announce Schlumberger Joining Versal
(CGG, 29.Aug.2022) — CGG, PGS and TGS, industry leaders of multi-client geoscience data, announce that Schlumberger has become a part of Versal, increasing its coverage to the vast majority of the world’s multi-client seismic data. Versal was created by CGG, PGS and TGS in 2020 and launched in 2021 to […]
Important Step to Decarbonise Europe
(Equinor, 29.Aug.2022) — Northern Lights, a JV owned by Equinor, Shell and TotalEnergies, signed the world’s first commercial agreement on cross border CO2 transportation and storage with Yara. This is an important step for the development of large-scale decarbonisation of heavy industries to help meet climate ambitions. Yara and Northern Lights […]
Petrobras: Binding Phase Underway for UFN-III Divestment
(Petrobras, 29.Aug.2022) — Petrobras, following up on the release disclosed on 31 May 2022, informs that the binding phase concerning the full sale of the Nitrogen Fertilizer Unit III (UFN-III) is underway. Potential buyers qualified for this phase, in accordance with the criteria published in the teaser, received a process […]
Sercel Makes Another Major Sale of its Nodal OBN Solution
(CGG, 29.Aug.2022) — CGG announced that Sercel has sold a second batch of 12,000 GPR300 nodes to BGP Inc., following their earlier major order of 18,000 GPR300 nodes in 2021. This represents a significant increase in the seismic survey equipment currently being deployed on a project in the Middle East. […]
Petrobras Comments on Braskem Divestment Process
(Petrobras, 28.Aug.2022) — Petrobras, regarding the news published in the media concerning the Braskem divestment process, reaffirms that its stake in Braskem is part of the portfolio of assets for sale by the company, as disclosed in the Strategic Plan 2022-2026. Petrobras informs that it is not conducting any sales […]
Bolsonaro says Petrobras Privatization Possible Next Year
(Reuters, 26.Aug.2022) — President Jair Bolsonaro said on Friday he has authorized Minister of Mines and Energy Adolfo Sachsida to consider the privatization of oil company Petrobras next year, if the president is re-elected in October. “Sachsida has this idea. I gave him the green light to discuss privatization of […]
Lula’s Plan to Keep Petrobras State-Controlled Is a Mistake, Minister Says
(Bloomberg, 26.Aug.2022) — Luiz Inacio Lula da Silva’s plan to keep Brazil oil giant Petroleo Brasileiro SA as a state-controlled company if elected again is a mistake, according to Energy Minister Adolfo Sachsida. Former president Lula, the front-runner for the October elections, has been promising to reverse years of cost […]
Moody’s Changes Ultrapar’s Outlook to Stable from Negative
(Moody’s, 26.Aug.2022) — Moody’s Investors Service affirmed Ultrapar Participações S.A.‘s Ba1 Corporate Family Rating and the Ba1 rating of the Backed Senior Unsecured Notes issued by Ultrapar International S.A., guaranteed by Ipiranga Produtos de Petroleo S.A. and Ultrapar. The outlook was changed to stable from negative. Affirmations: Issuer: Ultrapar Participacoes […]
Essar Inks $2.4bn Sale Pact with AM/NS for Infra Assets
(Essar, 26.Aug.2022) — In one of the largest post-pandemic M&A deals in India, Essar announced signing definitive agreements with Arcelor Mittal Nippon Steel (AM/NS) for certain Ports and Power infrastructure assets which are primarily captive to Hazira steel plant operations. The deal also envisages a 50-50 Joint Venture partnership, for […]
Mantaro Precious Metals Buys 51% Interest in Golden Hill Property
(Mantaro, 25.Aug.2022) — Mantaro Precious Metals Corp. (TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) has exercised its option to acquire a 51% in the share capital of Minera Golden Hill S.R.L. (“MGH”), which owns the Golden Hill Property, located in Bolivia. In order to exercise its option to acquire an initial 51% of the shares […]
TotalEnergies to Divest 49% Interest in Russian Termokarstovoye Gas Field
(TotalEnergies, 26.Aug.2022) — On 22 March 2022, TotalEnergies publicly shared its principles of conduct for its Russian related business. TotalEnergies reiterated its firmest condemnation of Russia’s military aggression against Ukraine and stated that it would ensure strict compliance with current and future European sanctions, no matter what the consequences on […]
CCUS Planned Capacity Nearing 1 Billion Tonnes Per Annum
(WoodMac, 26.Aug.2022) — The planned global carbon capture, utilisation and storage (CCUS) capacity pipeline has reached 905 million tonnes per annum (mtpa), with more than 50 new projects announced this quarter, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). These findings come from Wood Mackenzie’s ‘CCUS Market Update for Q2 2022’ […]
Chinese Firm Takes Over Lifting Venezuelan Oil for Debt Offset
(Reuters, 26.Aug.2022) — China has entrusted a defense-focused state firm to ship millions of barrels of Venezuelan oil despite U.S. sanctions, part of a deal to offset Caracas’ billions of dollars of debt to Beijing, according to three sources and tanker tracking data. China National Petroleum Corp (CNPC) stopped carrying Venezuelan oil […]
CNOOC: Net Profit Doubled, Record-high Dividend Declared
(CNOOC, 25.Aug.2022) — CNOOC Limited (SEHK: 00883, SSE: 600938) announced its 2022 interim results for the six months ended 30 June 2022. During the period, the company focused on the main business sector of hydrocarbon exploration and development. It pressed ahead with the “three major programs”, namely, Reserves & Production […]
New Pacific Reports Financial Results
(New Pacific, 25.Aug.2022) — New Pacific Metals Corp. reports its financial results for the three months and year ended June 30, 2022. All figures are expressed in US dollars unless otherwise stated. FISCAL 2022 HIGHLIGHTS Commenced the 2022 drill program at the Silver Sand Project which includes resource infill drilling to improve […]
Air Products to Provide Heat Exchangers for Qatar NFE LNG Project
(Air Products, 25.Aug.2022) — Air Products (NYSE: APD), a leader in liquefied natural gas (LNG) technology and equipment, has been awarded the contract to supply four end flash coil wound heat exchangers (CWHE) for the North Field East LNG Project in Ras Laffan Industrial City, Qatar. One of the end flash CWHE’s will be […]
Moody’s Affirms Ecopetrol’s Investment Grade Ratings
(Energy Analytics Institute, 25.Aug.2022) — Moody’s Investors Service affirmed Ecopetrol S.A.‘s (BVC: ECOPETROL; NYSE: EC) global credit rating at Baa3 with a negative outlook and downgraded its individual rating (BCA) from Ba1 to Ba3, the Bogotá-based oil giant announced 25 August 2022 in an official statement. The rating agency said […]
First Hole HMN Li Project, Argentina Second Drill Rig on Site
(Lithium South, 25.Aug.2022) — Lithium South Development Corporation (TSX-V: LIS) (OTC-QB: LISMF) (Frankfurt: OGPQ) provided an update on the drilling campaign currently underway at the Hombre Muerto North Lithium Project (HMN Li Project) in Salta Province, Argentina. The first hole AS01 has now been completed to a depth of 270m. As the […]
Eco (Atlantic) Updates on Guyana and Namibia
(Eco Atlantic, 25.Aug.2022) — Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG) announced its results for the three months ended 30 June 2022. In addition, the company is notifying the market of an investor event to be held on 19 September 2022, details of which can be seen below. Today’s announcement […]
Petrobras Receives Transparency Trophy 2022
(Petrobras, 24.Aug.2022) — Petrobras was elected one of the ten companies with the most transparent financial statements in Brazil in the category of companies with net revenues over R$20bn. The recognition is granted annually by the National Association of Finance, Administration, and Accounting Executives (Anefac) to the Brazilian companies with […]
OPEC+ Deepens Support for Saudi Call to Weigh Supply Curbs
(Bloomberg, 24.Aug.2022) — OPEC’s united front on possible action grew stronger, as more nations endorsed Saudi Arabia’s view that supply curbs may be needed to stabilize world oil markets. Within 48 hours of comments from Saudi Arabian Energy Minister Prince Abdulaziz bin Salman that OPEC might have to curtail production, fellow […]
Energy Transfers Inks 2.1 MTPA Supply Deal with Shell
(Energy Transfer, 24.Aug.2022) — Energy Transfer LP (NYSE: ET) announced its subsidiary, Energy Transfer LNG Export, LLC, has entered into a 20-year LNG Sale and Purchase Agreement (SPA) with Shell NA LNG LLC related to its Lake Charles LNG project. Under the SPA, Energy Transfer LNG will supply Shell 2.1 million tonnes of LNG per annum […]
Astra Completes Phase II Drilling, Extends Paciencia Vein to 2.1km
(Astra Exploration, 23.Aug.2022) — Astra Exploration Inc. (TSX-V: ASTR, OTCQB: ATEPF) has completed 3,976 metres of RC drilling in 15 holes at its Pampa Paciencia Project located in Northern Chile. Highlights 100% of holes intersected quartz veins, stockworks or veinlets close to target depths11 holes were drilled to expand mineralization […]
Freeport LNG Eyes Partial Restart in November 2022
(Freeport LNG Development, 23.Aug.2022) — Freeport LNG Development, L.P. has completed a detailed assessment of alternatives for resuming operations at its liquefaction facility following the 8 June 2022 incident and has identified a recovery plan for reinstatement of partial operations that it believes ensures the long-term safety and integrity of […]
TotalEnergies Reveals Initial Power at Scotland Offshore Wind Farm
(TotalEnergies, 23.Aug.2022) — TotalEnergies and its partner SSE Renewables, announced first power generation from the Seagreen offshore wind farm, 27km off the coast of Angus in Scotland. The first turbine, of a total of 114, was commissioned in the early hours of Monday morning. The aim is for the 1075 […]
APA Corp. Reveals First Find in Suriname Block 53; Plugs Dikkop
(APA Corp., 23.Aug.2022) — APA Corporation (Nasdaq: APA) announced an oil discovery offshore Suriname at Baja-1 in Block 53 and provided an update on recent drilling operations at Dikkop-1 in Block 58. Block 53 Baja-1 was drilled to a depth of 5,290 meters (17,356 feet) and encountered 34 meters (112 […]
KAPSARC: Investment Challenges Affecting the Oil and Gas Industry
(Energy Analytics Institute, 22.Aug.2022) — Research Lead Hamid M. Al Sadoon and and Research Fellow Julio Arboleda with the King Abdullah Petroleum Studies and Research Center (KAPSARC) recently wrote in a research report that the “unprecedented oil price collapse of April 2020, in the wake of a fall of more […]
Guyana Oil Production Data Available to the Public
(Energy Analytics Institute, 22.Aug.2022) — Guyana’s Ministry of Natural Resources announced that the country’s oil production data is now available for public consumption. The data is available via the ministry’s Petroleum Management Programme website. The website was created in 2021 to provide information and updates relating to Guyana’s oil sector […]
Inflation Reduction Act of 2022 – What it Means for You?
(US DOE, 22.Aug.2022) — One of President Biden’s signature accomplishments, the Inflation Reduction Act of 2022 (IRA), has been signed into law. This mark’s the largest investment in clean energy in our nation’s history. Along with its signature companion laws the CHIPS and Science Act and the Bipartisan Infrastructure Law of 2022, the final pieces necessary […]
AGE’s Ali Moshiri eyes revitalization of Venezuela hydrocarbon industry
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 26.Aug.2022, Words: 89) — Amos Global Energy Management LLC or AGE, a Houston-based independent oil & gas company focused on the acquisition and development of international upstream assets, continues to see and pursue potential in Venezuela’s hydrocarbon industry, according to the company’s […]
The NGC Group Returns to Profitability in 2021
(NGC, 22.Aug.2022) — The NGC Group of Companies’ financial performance for 2021, demonstrated a significant turnaround in profitability, as it successfully navigated the global energy landscape during that year. The Group recorded a profit of TT$2.6B for the financial year ended 31 December 2021. This profit is a far cry […]
Eni Makes Significant Gas Find Offshore Cyprus
(Eni, 22.Aug.2022) — Eni announces a significant gas discovery in the Cronos-1 well drilled in Block 6, 160 km off Cyprus coastline, in 2,287 meters of water depth. The Block is operated by Eni Cyprus holding 50% interest with TotalEnergies as partner. Preliminary estimates indicate about 2.5 TCF of gas […]
TotalEnergies Reports Significant Gas Find Offshore Cyprus in Block 6
(TotalEnergies, 22.Aug.2022) — TotalEnergies and Eni (operator) have made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018. Located at approximately 160 km southwest of the Cyprus coast, Cronos-1 encountered several good quality […]
Irfaan Ali: Oil, Gas Boom Will Ensure Guyana’s Future
(Trinidad and Tobago Newsday, 21.Aug.2022) — Guyanese President Dr Mohamed Irfaan Ali said the oil and gas boom Guyana is experiencing will ensure the country’s future economy but it will not be the focus. He said the country had 18 billion barrels of proven reserve and by 2026 it should […]
Petrobras BODs Approves Issuance of Commercial Notes
(Petrobras, 19.Aug.2022) — Petrobras hereby informs that the Executive Board approved on 18 August 2022, the 1st issuance of book-entry commercial notes (Issuance), without collateral and personal guarantee, in up to two series (Book-entry Commercial Notes), which will be subject to public distribution, with restricted distribution efforts, under mixed regime […]
ConocoPhillips Gets $8.5B Venezuela Award OK’d In DC
(Law360, 19.Aug.2022) — ConocoPhillips won approval on Friday to enforce an $8.5 billion arbitral award against Venezuela despite the country ignoring the litigation for more than two years, after a federal judge in Washington, D.C., ruled that Caracas’ chances of success in an ongoing annulment proceeding are minimal.Turning first to the […]
Petrobras on Divestment of Refining and Logistics Assets
(Petrobras, 19.Aug.2022) — Petrobras, following up on the releases disclosed on 27 June 2022 and 15 July 2022, informs the beginning of the non-binding phase in the processes of sale of assets in refining and associated logistics in the country, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, […]
Subsea 7 Awarded Floating Wind FEED Contract in South Korea
(Energy Analytics Institute, 18.Aug.2022) — Subsea 7 was awarded a floating wind FEED contract by Corio and TotalEnergies for a floating wind development in South Korea. The project, the Gray Whale 3 project, is a 504MW development located some 60 to 70 kilometers offshore from Ulsan, Subsea 7 announced 18 […]
ARMM Enters into Business Combination with Current Energy and Renewables Corp.
(ARMM Inc., 18.Aug.2022) — ARMM Inc. (OTCQB: ARMM) entered into a binding letter of intent with Current Energy and Renewables Corp. (“CER”), a supplier of renewable and traditional energy to commercial and industrial clients in deregulated markets. CER was established in 2017 and is headquartered in Scottsdale, Arizona. David Coburn, CER’s Chief Executive Officer, […]
Petrobras Concludes Ibiritermo S.A. Acquisition
(Energy Analytics Institute, 18.Aug.2022) — Petrobras finalized the acquisition of Edison S.p.A.‘s 50% stake in Ibiritermo S.A. while the transfer of Usina Termelétrica Ibirité to Petrobras has been carried out. Petrobras now holds 100% of the shares of Ibiritermo and has exclusive ownership of UTE Ibirité, the Rio de Janeiro-based […]
Gran Tierra Energy Reveals New $150mn Credit Facility
(Gran Tierra, 18.Aug.2022) — Gran Tierra Energy Inc. (NYSE:GTE) (TSX:GTE) (LSE:GTE) announced that it has, through its wholly owned subsidiaries Gran Tierra Energy Colombia, LLC and Gran Tierra Colombia Inc., entered into a credit facility of up to $150mn. The facility replaces Gran Tierra’s previous credit facility that had a borrowing […]
Maersk Drilling Releases Fleet Status Report on 2Q:22 Activity
(Energy Analytics Institute, 18.Aug.2022) — Maersk Drilling announced that the total firm value of contracts and extensions awarded to the company during the second quarter 2022 (2Q:22) was approximately $0.2bn. At 30 June 2022, contract backlog amounted to $2bn, the company announced in its most recent Fleet Status Report (19 […]