(GoldMining, 24.Nov.2023) — GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) entered into an equity distribution agreement dated 24 Nov. 2023 with a syndicate of agents, including BMO Nesbitt Burns Inc. (the “Lead Agent“), BMO Capital Markets Corp., Canaccord Genuity Corp., Canaccord Genuity LLC, H.C. Wainwright & Co., LLC, Laurentian Bank Securities […]
Author: ENERGY ANALYTICS INSTITUTE (EAI)
Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.
NGC Joins IMA in Bid to Save Carli Bay Mangrove
(NGC, 24.Nov.2023) — The National Gas Company of Trinidad and Tobago Limited (NGC) is joining the effort to stem the decline in mangrove health in Trinidad and Tobago. This week, the company signed a Memorandum of Agreement (MoA) with the Institute of Marine Affairs (IMA), to implement a Mangrove Rehabilitation […]
![Petrobras Approves Strategic Plan 2024-2028+ [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/06/Petrobras-bonds-gbo-810x540-1.jpg)
Petrobras Approves Strategic Plan 2024-2028+ [PDF Download]
(Petrobras, 23.Nov.2023) — Petrobras informs that its Board of Directors approved, at a meeting held today, the Strategic Plan for the five-year period 2024-2028 (SP 2024-28+), planning to invest US$ 102 billion over the next five years. The first plan of this administration, the SP 2024-28+ aims to prepare Petrobras […]
Trump Tells President-elect Javier Milei he Plans to Visit Buenos Aires
(AP, 23.Nov.2023) — Former President Donald Trump has told Argentina’s President-elect Javier Milei that he plans to travel to the South American country so the two can meet, Milei’s office said Thursday. The office did not give a date for when Trump intends to be in Buenos Aires. The inauguration of Milei, […]
UK Energy Transition Outlook
(WoodMac, 23.Nov.2023) — Energy policy is a political hot topic in the UK. Broadly, ambition is high: net zero by 2050 targets are enshrined in law, and the UK has set goals to reduce carbon emissions by 68% by 2030 compared to 1990 levels, rising to 77% by 2035. However, […]
Corina Machado says Venezuela to end socialism: El Nacional
HOUSTON, TEXAS (Aaron Simonsky, Energy Analytics Institute, 24.Nov.2023, Words: 156) — Vente Venezuela national coordinator and opposition leader MarĂa Corina Machado said the next president of the Opec country would be picked by its citizens, according to the daily newspaper El Nacional. “The disqualification doesn’t stop anyone,” the newspaper reported […]
China Slows Venezuela Crude Buys
(Reuters, 23.Nov.2023) — The suspension of U.S. sanctions on Venezuelan oil has rattled its biggest customers, China’s independent refiners, who are now holding off on making new purchases amid wide discrepancies in offer prices, trading sources say. The independent refiners have for years bought Venezuelan oil at steep discounts, but since Washington lifted […]
Ecopetrol Announces New Senior Management Appointments
(Ecopetrol, 22.Nov.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces changes in its senior management team of the Upstream Vice-Presidency to meet challenges in the process of aligning its hydrocarbons exploration and production activities with the energy transition, as follows: 1. Elsa Jeanneth Jaimes is confirmed as Vice President of Offshore, a position she […]
Venezuela Producing 850,000 bpd, Hopes to Recover US Market
(Reuters, 22.Nov.2023) — Venezuela is currently producing some 850,000 barrels per day (bpd) of oil and hopes to soon reach 1 million bpd, the country’s deputy oil minister, Erick Perez, said on Wednesday, following the temporary lifting of U.S. sanctions on the nation. Washington in October issued a license allowing Venezuela to […]
TotalEnergies Launches In-Depot Charging for Electric Trucks
(TotalEnergies, 21.Nov.2023) — TotalEnergies announced the launch of an in-depot electric truck charging service today at the SOLUTRANS road and urban transportation trade show. With this new solution, TotalEnergies will install and supervise customized charging infrastructure adapted to transporters’ needs to support their transition to electric mobility. Customized Service Adapted […]
Petrobras on Remuneration Payment to Shareholders
(Petrobras, 21.Nov.2023) — Petrobras, following up on the Material Fact of 08/03/2023, informs that it has paid today the first installment of the remuneration to shareholders for the second quarter of 2023. The gross amount distributed today is R$ 0.209176 per common and preferred share in the form of dividends […]
Argentina’s Incoming Administration Faces Challenges
(S&P Global Ratings, 21.Nov.2023) — Economic imbalances in Argentina provide complex conditions for the Milei administration even before he takes office, S&P Global Ratings said in an article published today titled “Argentina’s Incoming Administration Faces Difficult Economic Policy Implementation.” Javier Milei, of La Libertad Avanza (LLA), won a historic and […]
Petrobras on 3Q:23 Share Value of Dividends and Interest
(Petrobras, 21.Nov.2023) — Petrobras, following the Material Fact of 11/09/2023, informs that, as a result of the share buyback program, there was a change in the number of treasury shares. Thus, the gross value of dividends and interest on equity per share to be paid based on the balance sheet […]
SBM Completes Share Repurchase
(SBM Offshore, 21.Nov.2023) — SBM Offshore has completed the repurchase of 350,000 shares. Between 9-21 Nov. 2023 a total of 350,000 common shares were repurchased, at an average price of EUR 12.25 per share, representing a total of EUR 4,286,956. Information regarding the aggregate of the transactions (calculated on a […]
Deep Casing Deloitte Technology Fast 50 List for 2023
(Deep Casing, 21.Nov.2023) — Deep Casing Tools placed 36th in the 2023 Deloitte UK Technology Fast 50, a ranking of the 50 fastest-growing technology companies in the UK. Rankings are based on percentage revenue growth over the last four years. Deep Casing Tools grew 850% during this period. Deep Casing […]
CGG Sells its Stake in ARGAS to TAQA
(CGG, 21.Nov.2023) — CGG has entered into a definitive agreement with Industrialization and Energy Services Company (TAQA) to sell its entire 49% stake in Arabian Geophysical and Surveying Company (ARGAS). The transaction is expected to close this year, subject to satisfying relevant conditions. Sophie Zurquiyah, CEO CGG, said “The sale […]
TotalEnergies Completes Sale of Canadian assets to Suncor
(TotalEnergies, 20.Nov.2023) — TotalEnergies has completed today the sale to Suncor of the entirety of the shares of TotalEnergies EP Canada Ltd., comprising notably its participation in the Fort Hills oil sands asset and associated midstream commitments. The consideration for the transaction is C$1.47bn (about $1.1bn), with an effective date […]
Projeo Awarded $38mn from Energy Department for CarbonSAFE
(Projeo Corporation, 20.Nov.2023) — Projeo Corporation, a subsidiary of GTI International, has been awarded over $38mn in U.S. Department of Energy (DOE) funding to support the development of new carbon storage demonstrations. Projeo’s selected project, The Phoenix Project, intends to demonstrate the feasibility of safely converting a mature oil and gas field […]
Fitch Maintains Ecopetrol’s Rating at BB+, with Stable Outlook
(Ecopetrol, 20.Nov.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the rating agency Fitch Ratings affirmed the company’s long-term foreign and local currency issuer default rating at “BB+”, with a stable outlook. Additionally, the agency affirmed the company’s national long- and short-term ratings at ‘AAA(col)’ and ‘F1+(col)’, respectively, both with a […]
Vortex Metals in Deal to Buy 80% Interest in Illapel Copper Project
(Vortex Metals, 20.Nov.2023) — Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) signed the definitive agreement with “Windows Minerals SCM and SLM Rio 27 De Farellon Sánchez” (Jointly the optionors) for an option to acquire up to an 80% Interest in the Illapel Copper Project. This follows the letter of […]
![The lifting of sanctions and the oil collapse of Venezuela [PDF download]](https://energy-analytics-institute.org/wp-content/uploads/2020/09/Venezuela-requests-the-extradition-of-former-PDVSA-president-Rafael-Ramirez.jpg)
The lifting of sanctions and the oil collapse of Venezuela [PDF download]
(Rafael RamĂrez, 16.Nov.2023) — On 18 Oct., the US Office of Foreign Assets Control (OFAC)[1] issued Licenses 43 and 44,[2] lifting the sanctions on the Venezuelan oil and mining sector that had been in place since Jan. 2019. The OFAC measure is of a temporary nature, for a period of six months, subject to compliance […]
Frontera Announces Initiation of Normal Course Issuer Bid
(Frontera, 16.Nov.2023) — Frontera Energy Corporation (TSX: FEC) announces that the Toronto Stock Exchange (TSX) has accepted its notice to initiate a normal course issuer bid (NCIB) for its common shares. Pursuant to the NCIB, Frontera may purchase up to 3,949,454 Common Shares during the 12-month period commencing 21 Nov. 2023, […]
![Ancient Thanksgiving to Pachamama [Photos]](https://energy-analytics-institute.org/wp-content/uploads/2023/11/PagoALaTierra_Header.jpg.webp)
Ancient Thanksgiving to Pachamama [Photos]
(Mainstream, 16.Nov.2023) — Members of Mainstream’s Chilean team recently honored local indigenous tradition by taking part in a centuries-old ceremony against the backdrop of Tchamma wind farm’s turbines, in the arid northern Atacama Desert. Plant Manager Juan Muñoz, along with MatĂas Camaño, Natalia Reveco and Sebastián Espinoza of the renewable […]
![TotalEnergies Publishes Response of EACOP Ltd [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2023/10/total-france.jpg)
TotalEnergies Publishes Response of EACOP Ltd [PDF Download]
(TotalEnergies, 16.Nov.2023) — Following the publication of the report by the NGO Greenfaith on the consideration of cultural heritage within the EACOP project in Uganda and Tanzania, and for which EACOP was unfortunately not requested in advance, we have asked our affiliate EACOP Ltd, which operates the EACOP project, to […]
Sungrow to Supply SG5RT Residential Inverters to Residential PV Project in Egypt
(Sungrow, 15.Nov.2023) — Sungrow, the global PV inverter and energy storage system supplier, announced that it has been selected to supply 400 units of 5kW string inverters with its ultra-safe, high yield, user-friendly, and intelligent O&M features for Egypt’s largest 2MW residential PV project, which includes 400 rooftop solar plants at SODIC’s VYE […]
Mainstream Finalizes Reorganization Process in ChileÂ
(Mainstream, 14.Nov.2023) — Reference is made to previous announcements by Aker Horizons ASA regarding the initiation by Mainstream Renewable Power of Judicial Reorganization Proceedings for Condor EnergĂa SpA and Huemul EnergĂa SpA (“Condor”, “Huemul”, the “EnergĂa companies”) in Chile. Mainstream today announced the conclusion of the proceedings for the EnergĂa companies, part […]
FPSO Prosperity Producing and On Hire
(SBM Offshore, 14.Nov.2023) — SBM Offshore announce that FPSO Prosperity has produced first oil as of 14 Nov. 2023 and is formally on hire. The FPSO Prosperity utilizes a design that largely replicates the design of the FPSO Liza Unity. As such, the design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the […]
LNG Market Needs 90 Mtpa of Add’l Supply by 2035: WoodMac
(WoodMac, 14.Nov.2023) — The global liquefied natural gas (LNG) sector will need 90 million tonnes per annum (mtpa) of new supply by 2035 to sate growing demand with market volatility expected to persist as the market rebalances post 2025 according to Massimo Di Odoardo, Vice President, Gas & LNG Research […]
Touchstone Updates on Cascadura Field in 3Q:23 Results
(Touchstone, 14.Nov.2023) — Touchstone Exploration Inc. (TSX, LSE: TXP) provided an operational update and reports its operating and financial results for the three and nine months ended 30 Sep. 2023. Paul Baay, President and Chief Executive Officer, commented: “The positive impact that initial output from our Cascadura field has had […]
ExxonMobil Starts Third Offshore Guyana Project Payara
(Exxon Mobil, 14.Nov.2023) — ExxonMobil started production today at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day. Highlights: Company’s third FPSO, Prosperity, starts up ahead of schedule and will add 220,000 barrels of oil per day […]
Getech Teams up with HyAfrica in Africa
(Getech, 14.Nov.2023) — Getech, a locator of subsurface resources, has signed an agreement with LIAG (Leibniz Institute for Applied Geophysics), a partner in the HyAfrica consortium, to accelerate the exploration and development of natural hydrogen resources in Africa. The project aims to discover viable natural hydrogen (also called white and geological […]
TotalEnergies Buys 1.5 GW Flexible Power Generation Capacity in Texas
(TotalEnergies, 13.Nov.2023) — As part of its development as an integrated power player, TotalEnergies has signed an agreement with TexGen, a U.S.-based company to acquire for $635mn three gas-fired power plants with a total capacity of 1.5 GW in Texas. The three plants, which are connected to ERCOT (Electric Reliability […]
Exxon Turning Biomass into Fuel
(Exxon Mobil, 13.Nov.2023) — Making a global impact on climate change isn’t easy. Reducing emissions on a global scale requires multiple solutions, and we believe biofuels can play a big part. Highlights: The energy transition will require multiple solutions and collaborations.ExxonMobil and the National Renewable Energy lab are testing the […]
ExxonMobil Drilling First Lithium Well in Arkansas
(Exxon Mobil, 13.Nov.2023) — Exxon Mobil Corporation (NYSE: XOM) announced plans to become a leading producer of lithium, a key component of electric vehicle (EV) batteries. Work has begun for the company’s first phase of North America lithium production in southwest Arkansas, an area known to hold significant lithium deposits. […]
Petrobras Reports on Favorable Ruling in Labor Case before STF
(Petrobras, 13.Nov.2023) — Petrobras, in continuation of the announcement made on 02/15/2022, informs that, on 11/10/2023, the First Panel of the Federal Supreme Court concluded the judgment of the pending appeals in the lawsuit in which the methodology for calculating the Minimum Remuneration by Level and Regime (RMNR) supplement is […]
Companies Ask US, EU to Intervene in Venture Global LNG Dispute
(Reuters, 11.Nov.2023) — BP (BP.L), Edison (EDNn.MI) and Shell (SHEL.L) pressed a U.S.-EU energy group to intervene in a dispute with liquefied natural gas exporter Venture Global LNG over the U.S. firm’s failure to deliver contract supplies of the fuel. The companies appealed to the U.S.-EU Task Force on Energy Security last month, and a […]
Exmar Updates on Panama Canal Delays in 3Q:23 Results [PDF Download]
(Exmar, 10.Nov.2023) — The Executive Committee of EXMAR NV reported its third quarter results of 2023, including comments on delays crossing the Panama Canal, BW Tokyo and Tango FLNG. _________________
![YPF Reports Rise in 3Q:23 Production [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/11/ypf-3q23-source-ypf.png)
YPF Reports Rise in 3Q:23 Production [PDF Downloads]
(YPF, 9.Nov.2023) — Argentina’s YPF SA reported total hydrocarbon production averaged 520 Kboe/d in the third quarter 2023, up 1% sequentially and up 3% on a year-on-year basis, mainly boosted by the expansion of 5% in our crude oil production. ____________________
Mandalay Resources Announces 3Q:23 Financial Results, CFO Transition
(Mandalay, 9.Nov.2023) — Mandalay Resources Corporation (TSX: MND) (OTCQB: MNDJF) is pleased to announce its financial results for the quarter ended 30 Sep. 2023. Third Quarter 2023 Highlights: Generated consolidated quarterly revenue of $40.9mn;Björkdal had its strongest quarter since Q1 2022 generating revenue of $21.8mn and adjusted EBITDA1 of $9mn for 2023;Consolidated quarterly adjusted EBITDA of $15.4mn; andConsolidated […]
Citgo Exits 3Q:23 with Liquidity of $3.86bn
(Citgo, 9.Nov.2023)  — Citgo Petroleum Corporation reported its 2023 third quarter financial and operational results. Highlights: Net income of $567mn and EBITDA 1 of $895mn, compared to net income of $380 mn and EBITDA of $642mn for the second quarter of 2023Adjusted EBITDA 1 for the third quarter was approximately $833mn, which included two special items related to a legal settlement and a […]
![Petrobras Reports 3Q:23 Financials [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/11/petrobras-3q23.png)
Petrobras Reports 3Q:23 Financials [PDF Downloads]
(Petrobras, 9.Nov.2023) — Petrobras reported on its main financial achievements in the third quarter 2023. Highlights: Solid recurring EBITDA of US$13.7bnGross debt under control at US$61bn, even after the increase in leases with the start-up of FPSO Anita GaribaldiConsistency in cash generation: Operating Cash Flow of US$11.6bn, the fourth highest […]
Petrobras on Remuneration to Shareholders
(Petrobras, 9.Nov.2023) — Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of dividends and interest on own equity in the amount of R$17.5bn, as anticipation for 2023, declared based on the balance sheet of 30 Sep. 2023. The approved proposal is in line […]
Citgo Concludes 2023 Marketer Roundtables
(Citgo, 9.Nov.2023) — Citgo Petroleum concluded its highly successful Marketer Roundtable Meetings for 2023, bringing together marketers from across the country to discuss key industry trends, brand programs, and commercial strategies. The roundtables, held in late September through early November, provided a valuable forum for collaboration and knowledge sharing. The […]
Frontera Updates on Colombia and Guyana
(Frontera, 9.Nov.2023) — Frontera Energy Corporation (TSX: FEC) reported financial and operational results for the third quarter ended 30 Sep. 2023. All financial amounts in this news release are in United States dollars, unless otherwise stated. Gabriel de Alba, Chairman of the Board of Directors, commented: “Frontera’s three core businesses continue to deliver […]
CGX and Frontera Report Find Offshore Guyana
(Frontera, 9.Nov.2023) — 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, are pleased to announce today the discovery of a total of 114 feet (35 meters) […]
Petrobras Revises its 2023 Production and CAPEX Guidance
(Petrobras, 9.Nov.2023) — Petrobras, under the terms of CVM Resolution No. 44, of 23 Aug. 2021, and in addition to the material fact disclosed on 16 Oct. 2023, informs that the guidance for its own oil and gas production and its CAPEX have been revised. For total own oil and […]
Trek Bicycle and World Bicycle Relief Partner for Third Year in a Row
(Trek Bicycle, 9.Nov.2023) — Today, Trek Bicycle and World Bicycle Relief (WBR) announced their third annual holiday fundraiser to help mobilize people in rural communities with purpose-built Buffalo Bicycles. This year, the two organizations aim to raise a total of $1mn, with Trek matching all donations up to $375,000 between now and 31 Dec. 2023. Customers can donate […]
Ecopetrol Responds to News From BluRadio
(Ecopetrol, 9.Nov.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that today the news website www.bluradio.com reported the convening of an extraordinary meeting of the General Shareholders’ of Ecopetrol. Ecopetrol hereby informs that it has not announced a General Shareholders’ Meeting. To date, Ecopetrol has only received a request from the Ministry of Finance […]
FPSO Liza Unity Purchase by ExxonMobil Completed
(SBM, 9.Nov.2023) — SBM Offshore and ExxonMobil Guyana Limited, an affiliate of ExxonMobil Corporation, have completed the transaction related to the purchase of FPSO Liza Unity, a few months ahead of the end of the maximum lease term, in Feb. 2024. The purchase allows ExxonMobil Guyana to assume ownership of the unit […]
ONEHOPE Wine Reaches Philanthropic Milestone
(ONEHOPE, 9.Nov.2023) — ONEHOPE, a Napa Valley winery founded with the mission to change the world by sharing wine and giving hope is pleased to announce surpassing ten million dollars in donations to more than 40,000 unique charities as part of the brand commitment that every bottle gives back. “When we founded ONEHOPE, our […]