(Energy Analytics Institute, 31.Aug.2023) — Energy briefs as well as others related to finance and projects during August 2023 including Petrobras commenting on divestment process related to the LUBNOR refinery; Petrobras commenting on Sete Brasil; FMC Corporation on revenues in Latin America in the second quarter 2023; Sempra appointing Richard Mark to its board of directors; and more.
EUROPE
Belgium
— In accordance w/ article 14, first paragraph of the Law of 2 May 2007 regarding the disclosure of important shareholdings in listed companies, EXMAR NV said on 24 Aug. 2024 that it rec’d a notification from Saverex NV.
Italy
— Between 7-11 Aug. 2023, Eni SpA bought on the Euronext Milan no 3,186,122 shares, at a weighted avg price equal to 13.8733/shr, for a total consideration of 44,202,047.06 euro within the authorization to purchase treasury shares approved by the shareholders’ meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999, the Italian co. said 16 Aug. 2023 in an official stmt.
— Between 31 Jul. – 4 Aug. 2023, Eni SpA acquired on the Euronext Milan no. 3,351,075 shares, at a weighted avg price equal to 13.7409/shr, for a total consideration of 46,046,722.31 euro within the authorization to purchase treasury shares approved by the Shareholders’ Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999, Eni said 9 Aug. 2023 in an official stmt.
Norway
— Wintershall DEA officially opened the Hywind Tampen – the world’s first floating wind farm built specifically to power offshore oil and gas installations – in the Norwegian North Sea, the co. announced 24 Aug. 2024 on social media.
LATIN AMERICA AND THE CARIBBEAN
Brazil
— Petrobras reiterates there’s no decision by the competent bodies in the co. to acquire any stake in the fuel distribution mkt or to enter that mkt, the co. said 28 Aug. 2023 in an official stmt. Petrobras also clarifies any acquisitions must, within the governance established at Petrobras, go through the planning and approval processes provided for in the applicable systems, w/ their technical and economic viability demonstrated.
— Petrobras said 9 Aug. 2023 in an official stmt that in relation to the process of divestment process of the LUBNOR refinery that it has been strictly complying w/ the purchase and sale agreement inked between the parties and acting to comply w/ the conditions precedent established in such agreement.
— Petrobras, following up the release disclosed yday, informs that its BODs, by majority, understood that the matter deserves further study, sending it to the executive board. Negotiations w/ Sete Brasil are protected by confidentiality agreements, Petrobras said 4 Aug. 2023 in an official stmt.
— Petrobras, following up on the material fact disclosed on 28 Jul. 2023, informs that its BODs, in a meeting held yday, approved a share buyback program for shares issued by Petrobras, to remain in treasury and subsequent cancellation, w/o reducing the share capital. The buyback program will cover only preferred shrs and will be carried out in the context of the current shareholder remuneration policy, the Rio de Janeiro-based said 4 Aug. 2023 in an official stmt.
— Petrobras informs that its BODs will analyze the possible conclusion of an agreement w/ Sete Brasil and cos. of its economic group (Sete Brasil Group). The negotiations w/ Sete Brasil are protected by confidentiality agreements, Petrobras revealed 3 Aug. 2023 in an official stmt.
Chile
— Case Study: Lithium brine extraction co. significantly improves reserve estimation accuracy, Zelandez said in an official stmt.
Guyana
— ExxonMobil recently engaged in hands-on training to enhance the response readiness in the unlikely event of a spill or similar incidents, the co. announced 24 Aug. 2024 on social media. The co.’s local staff gained valuable skills in maintaining and operating the response equipment stored in Guyana. “We remain committed to ensuring the safety of our community and environment, and these capacity-building activities are key to achieving that goal,” Exxon said in the post.
Mexico
— The Trion field development plan (FDP) has been approved by the Mexican regulator, Comision Nacional de Hidrocarburos (CNH). Woodside Energy’s FID to develop the Trion resource, announced 20 Jun. 2023, was subject to Trion JV approval and regulatory approval of the FDP. Both of these conditions have now been met. Woodside CEO Meg O’Neill welcomed the approval of the FDP. “This milestone allows us to fully progress into execution phase activities with our contractors. “We look forward to working with PEMEX and our other stakeholders in Mexico to deliver this important project,” she said.
Peru
— Development and prospects of LNG in Peru.
Venezuela
— The Biden administration’s decision to open talks to temporarily lift sanctions against Venezuela raises the prospect that production may finally rebound in the world’s largest oil reserves, Bloomberg reported 24 Aug. 2023. Easing sanctions could revive long-awaited drilling projects by Chevron Corp., the only US oil co/ w/ operations in Venezuela, as well as those by European firms, including Eni SpA, Repsol SA and Maurel & Prom.
NORTH AMERICA
Canada
— Pan Global Resources Inc. (TSXV: PGZ) (OTCQX: PGZFF) has qualified for trading on the OTCQX Best Market operated by OTC Markets Group Inc. in the US, the co. announced 16 Aug. 2023 in an official stmt. The co.’s common shrs trade under the symbol “PGZFF” on the OTCQX and under the symbol “PGZ” on the TSX Venture Exchange (the “TSX-V”).
— Desert Mountain Energy Corp. appointed Michael O’Shea to the BODs. O’Shea has agreed to become the head of the audit committee as an independent director, Desert Mountain said 9 Aug. 2023 in an official stmt.
US
— Tokyo Gas announced participation of Sempra Infrastructure regarding a detailed study regarding the introduction of e-methane to Japan utilizing Cameron LNG terminal, the Japanese co. announced 30 Aug. 2023 in an official stmt.
— Sempra (NYSE: SRE) (BMV: SRE) appointed Richard Mark to the co.’s BODs effective 21 Aug. 2023, 2023. Mark is the former chairman and president of Ameren Illinois and he brings 20 yrs of experience in electric and gas utility operations, customer service, public policy and regulation, as well as broad knowledge and experience w/ advanced utility technologies and safety and reliability programs, Sempra said 17 Aug. 2023 in an official stmt.
— EnLink Midstream, LLC (NYSE: ENLC) (EnLink) named Dilanka Seimon as EVP and CCO. Seimon joins EnLink on 15 Aug., the co said 11 Aug. 2023 in an official stmt.
— FMC Corp. said 2 Aug. 2023 in an official stmt that North America revenue fell 25% (down 24% organically) in 2Q:23 vs. 2Q:22 as partners, the distribution channel and growers reduced inventory. Branded diamides in the region showed strong growth largely due to high insect pressure in Canada. Sales in EMEA fell 26% (down 24% organically) in 2Q:23 vs. 2Q:22 due to channel and grower destocking as well as adverse weather conditions across Europe. Volume headwinds were partially offset by strong pricing gains in the region. In Latin America, revenue fell 38% in 2Q:23 vs. 2Q:22 driven by significantly lower volumes as destocking was amplified by a historic drought in southern Brazil and Argentina.
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By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
