(Energy Analytics Institute, 31.Oct.2023) — Energy briefs as well as others related to finance and projects during October 2023 including Vista‘s third quarter 2023 earnings presentation; the long-awaited Citgo Petroleum auction; Colombia’s first seabed allocation competitive process for offshore wind energy; former Trinidad and Tobago energy minister Kevin Ramnarine on political uncertainties around Dragon gas; Dan Pickering of Pickering Energy Partners commenting on the US easing sanctions in Venezuela; Hess Corporation cancelling its 3Q:23 conference call; JinkoSolar Holding Co., Ltd.‘s earnings call; and more.
— South Africa’s environment ministry has given the go-ahead for TotalEnergies to drill offshore for gas and oil, after rejecting an appeal from more than a dozen individuals and lobby groups who intend challenging the decision, Reuters announced 2 Oct. 2023. The appeal to stop TotalEnergies from drilling in Block 5/6/7 off the Cape coast was the latest in a series of actions seeking to halt energy cos. exploring for new offshore discoveries at the foot of Africa.
— For 2023 bp said it expects both reported and underlying upstream production to be higher v 2022. Within this, bp expects underlying production from oil and “operations to be higher and production from gas and low carbon energy to be slightly lower,” co. officials said 31 Oct. 2023 during a 3Q:23 webcast w/ analysts. bp continues to expect four major project start-ups during 2023.
— Eni’s top mgmt will present the 3Q:23 results. The conf. call webcast will be held on 27 Oct. 2023 at 14:00 CEST, the co. announced 26 Oct. 2023 in an official stmt. The presentation, including the Q&A session, will last about 1-hr. Interested parties can listen to the conf. call by dialing-in by phone: for Italy dial +39 02 36213011, for UK + 44 1 212818003 and for USA + 1 718.705.8794.
— Eni’s BODs approved the second tranche of the provision in place of 2023 dividend: € 0.23/shr, the Italian co. announced 26 Oct. 2023 in an official stmt.
LATIN AMERICA AND THE CARIBBEAN
— Vista posted its 3Q:23 earnings presentation on its website 25 Oct. 2023 w/ details about Argentina and Mexico.
— The Colombian Ministry of Mines and Energy, the Maritime Authority (Dimar) and the National Hydrocarbons Agency (ANH) held the first seabed allocation competitive process for offshore wind energy in Colombia. The minister Andrés Camacho Morales will lead an event on 27 Oct. 2023 at 8am Bogota time. The link to register is here: https://lnkd.in/eHZY8Xnj
— Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that after mkt close on 7 Nov. 2023, it will release its financial and operating results for the 3Q:23. On 8 Nov., Ecopetrol’s senior mgmt will host a single virtual conf. call to review the results, w/ transmission in Spanish and English. Please find below the timing and links to access the conference here at 9am Colombia time or 9am NY time, the Colombian state entity announced 26 Oct. 2023 in an official stmt.
— ExxonMobil expects the Payara development offshore Guyana to start-up in Nov. 2023, the Texas-based co. announced 27 Oct. 2023 during its 3Q:23 webcast and conf. call.
Trinidad and Tobago
— Former Trinidad and Tobago energy minister Kevin Ramnarine said 30 Oct. 2023 in a post on LinkedIn that the twin-island country should have never allowed gas production to dip below 3.5 Bcf/d and warned that the gov’t should take gas supply from Venezuela’s offshore Dragon field for granted. “As for the much vaunted Dragon, that remains subject to multiple uncertainties, one of which is the political situation in Venezuela. Until we can get a reasonable timeframe for Dragon’s first gas, it can’t be the basis for any industrial planning,” Ramnarine said.
— Venezuela is entering the final stage of a long legal battle in which its most valuable foreign asset, Citgo Petroleum Corp., will be auctioned off to settle claims against the gov’t and its oil co., Bloomberg reported 23 Oct. 2023. The sale starts on 30 Oct w/ the expected distribution of marketing materials to potential buyers, setting off a bidding process expected to last several mths.
— US-Venezuela oil deal is considered a ‘red herring’ and won’t meaningfully change the market, says Dan Pickering 19 Oct. 2023 during interview w/ CNBC.
— Summit Nanotech appointed Sandro Mazzini as CCO. Mazzini brings over 30 yrs of experience in process technology design and commercial development strategy to Summit, w/ an extensive record of delivering valuable customer engagements in a global capacity, the co. said 10 Oct. 2023 in an official stmt. “His expertise, both on the technical and commercial sides, also includes catalyst research, operations and maintenance, technical sales, and marketing,” Summit said.
— Cheniere Energy, Inc.’s (NYSE American: LNG) BODs declared a quarterly cash dividend of $0.435/shr common ($1.74 annualized), an increase of 10% from the prior qtr, payable on 17 Nov. 2023 to shareholders of record as of the close of business on 9 Nov. 2023, the co. said 30 Oct. in an official stmt.
— Bristow Group Inc. (NYSE: VTOL) will release its 3Q:23 financial results after mkt close on 1 Nov. 2023. Bristow has also scheduled a conf. call for 2 Nov. 2023, to begin at 10 am ET (9 am CT), the co. said 24 Oct. 2023. Use link here.
— Norfolk Southern Corporation (NYSE: NSC) announced a quarterly dividend of $1.35/shr on its common stock. The dividend is payable 20 Nov. 2023, to shareholders of record on 3 Nov., the co. announced 24 Oct. in an official stmt. Norfolk has paid a dividend on its common stock for 165 consecutive quarters since its formation in 1982.
— Hess Corporation (NYSE: HES) will no longer hold its 3Q:23 results conf. call originally slated for 25 Oct. 2023 due to the 23 Oct. announcement that Hess has entered into a definitive agreement to be acquired by Chevron, subject to shareholder and regulatory approvals and other customary closing conditions, the co. announced 23 Oct. in an official stmt.
— PermRock Royalty Trust (NYSE:PRT) declared a mthly cash distribution to record holders of its trust units representing beneficial interests in the Trust as of 31 Oct. 2023, and payable on 14 Nov. 2023, in the amount of $496,812.10 ($0.040837/Trust Unit), based principally upon production during the mth of Aug. 2023, the co. announced 20 Oct. 2023 in an official stmt.
— Riley Exploration Permian, Inc. (NYSE American: REPX) said its BODs approved a cash dividend on the co.’s common stock for $0.36/shr. The dividend is payable on 9 Nov. 2023 to stockholders of record as of the close of business on 26 Oct. 2023, Riley revealed 12 Oct. 2023 in an official stmt.
— The head of Exxon Mobil’s shale oil and gas business, a unit involved in merger talks w/ rival Pioneer Natural Resources, was arrested at a Texas hotel last wk on a sexual assault charge, Reuters reported 8 Oct., citing local police.
— Callon Petroleum Company (NYSE: CPE) published its 2022 Sustainability Report, highlighting progress and initiatives on environmental commitments, social responsibility, and sustainable governance practices, the co. announced 4 Oct. 2023 in an official stmt.
— JinkoSolar Holding Co., Ltd. (NYSE: JKS) plans to release its unaudited financial results for the third quarter ended 30 Sep. 2023 before the open of US mkts on Monday 30 Oct. 2023. JinkoSolar’s mgmt will host an earnings conf. call on 30 Oct. at 8:30 a.m. US Eastern Time (8:30 p.m. Beijing/Hong Kong the same day), the co. said 23 Oct. 2023 in an official stmt. Register here.
By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.