ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

Rowley: LNG Restructuring Saving T&T

(Trinidad Guardian, 27.Oct.2023) — Prime Minister Dr Keith Rowley yesterday described the signing in early December of the agreements to restructure the shareholding in Atlantic LNG as one of the most significant decisions that the Government has been able to accomplish. And he told the post-Cabinet news conference yesterday at […]

Guyana Greenlights Oil Drilling in Waters Claimed by Venezuela

(AFP, 27.Oct.2023) — The new find, as well as some of the drilling concessions, are in a disputed area whose possible annexation Venezuela is putting to a national referendum. Guyana, much smaller than its neighbor, has the world’s highest reserves of crude per capita. US oil giant ExxonMobil made the discovery of […]

ExxonMobil Announces 3Q:23 Results [PDF Downloads]

(ExxonMobil, 27.Oct.2023) — Exxon Mobil Corporation announced third-quarter 2023 earnings of $9.1bn, or $2.25 per share assuming dilution. Cash flow from operations was $16bn, up $6.6bn versus the second quarter. In line with plans, capital and exploration expenditures were $6bn in the third quarter, bringing year-to-date 2023 expenditures to $18.6bn. […]

Chevron Reveals 3Q:23 Results, Comments on Hess Deal [PDF Downloads]

(Chevron, 27.Oct.2023) — Chevron Corporation (NYSE: CVX) reported earnings of $6.5bn ($3.48 per share – diluted) for third quarter 2023, compared with $11.2bn ($5.78 per share – diluted) in third quarter 2022. Included in the current quarter were a one-time tax benefit of $560mn in Nigeria and pension settlement costs […]

Pemex Reports 3Q:23 Results [PDF Downloads]

(Pemex, 27.Oct.2023) —In the third quarter of 2023 (3Q23), Petróleos Mexicanos‘ operating performance was positive, supported by a responsible financial policy. In exploration and production, the strategy continued to favor the accelerated development of new fields, the reduction of times between development and start-up, the early incorporation of production from […]

bp Boosts EV Charging Network with $100mn Order from Tesla

(bp, 26.Oct.2023) — Today bp (NYSE: bp) announced a deal in which bp pulse, bp’s EV charging business, will acquire ultra-fast charging hardware units from Tesla (NASDAQ: TSLA) for $100mn. The investment will facilitate the expansion of the bp pulse public network across the US, while also enabling support for […]

Repsol CEO Josu Jon Imaz Comments on Venezuelan Opportunities

(Energy Analytics Institute, 26.Oct.2023) — Repsol SA CEO Josu Jon Imaz updated the analyst community on the Spanish company’s situation in Venezuela during a recent conference call. “In Venezuela, we welcome the latest developments with regard to the easing of the U.S. sanctions affecting the oil sector. This is, let […]

Petrobras Releases 3Q:23 Production and Sales Report [PDF Download]

(Petrobras, 26.Oct.2023) — In 3Q23, average production of oil, NGL and natural gas reached 2.88 MMboed, 9.1% higher than in 2Q23, mainly due to the better operational performance of the pre-salt platforms and the lower losses with stoppages and maintenance, besides the ramp-up of platforms P-71 in the Itapu field, […]

Petrobras on CARF Judgment Result

(Petrobras, 26.Oct.2023) — Petrobras informs that, in a session held today, the Second Panel of the Superior Chamber of Tax Appeals (CSRF), a body of the Administrative Council of Tax Appeals (CARF), heard and granted, by majority vote, the appeal filed by the National Treasury, limiting the deductibility of regular […]

Petronas Forms Integrity Alliance with Industry Players

(Petronas, 26.Oct.2023) — Petronas has formed an Integrity Alliance with its vendors to push for a greater governance and integrity culture within the oil and gas industry in line with the company’s policy of zero-tolerance against any form of corruption. The Integrity Alliance Ceremony with the theme ‘Fortifying Trust through […]

Eni Inks Deal to Ensure Further LNG Volumes from Indonesia

(Eni, 26.Oct.2023) — Eni signed a 0.8 billion cubic meters (bcm) LNG sales and purchase agreement with Merakes LNG Sellers, starting from January 2024 for 3 years, in addition to the contract with Jangkrik LNG Sellers for 1.4 billion cubic meters per year, in place since 2017. Thanks to these […]

Europe
Italy

Eni’s BODs on Distribution

(Eni, 26.Oct.2023) — Eni’s Board of Directors, chaired by Giuseppe Zafarana, resolved to distribute to Shareholders the second of the four tranches of the provision in place of the 2023 dividend from Eni S.p.A. available reserves[1] of € 0.23 (compared to a total annual provision, in place of the dividend, equal […]

Petrobras on Talks with Bolivia’s YPFB

(Petrobras, 26.Oct.2023) — Petróleo Brasileiro S.A. (Petrobras), regarding the pieces of news published in the media, informs that a mission of Petrobras executives was carried out in Bolivia with representatives of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). On that occasion, Petrobras executives heard about the opportunities presented by YPFB representatives, none […]

France’s TotalEnergies Reports 3Q:23 Results [PDF Download]

(TotalEnergies, 26.Oct.2023) — Paris-based TotalEnergies reported its financial and operational details for the third quarter of 2023. ____________________

TotalEnergies on Interim Dividend of €0.74/share for Fiscal Year 2023

(TotalEnergies, 26.Oct.2023) — The TotalEnergies‘ Board of Directors meeting on 25 October 2023 under the chairmanship of Mr. Patrick Pouyanné, Chairman and Chief Executive Officer, decided the distribution of the third 2023 interim dividend of 0.74 €/share, an increase of 7.25% compared to the three interim dividends paid for fiscal […]

TotalEnergies Pursues Its Integrated Power Strategy in Germany

(TotalEnergies, 26.Oct.2023) — TotalEnergies has signed agreements with the Aloys Wobben Foundation (AWS) to acquire the entire share capital of the German company Quadra Energy. Founded in 2012 and boasting a “virtual power plant” totaling 9 GW, Quadra Energy is one of the top 3 aggregators of renewable electricity production […]

TotalEnergies Commissions its LNG Floating Terminal in the Port of Le Havre

(TotalEnergies, 26.Oct.2023) — TotalEnergies announces the commissioning of the Cape Ann, its floating storage and regasification unit (FSRU) for liquefied natural gas (LNG) located in the port of Le Havre. The terminal injected its first megawatt-hours (MWh) of gas into the grid operated by GRTgaz, using LNG from Norway. TotalEnergies […]

Latin America and the Caribbean

ExxonMobil Deal a Sign of Strength for US Oil Production

(WoodMac, 16.Oct.2023) — On the day last week that ExxonMobil announced it had reached a deal to pay US$64.5bn for Pioneer Natural Resources, there was a curiously apposite coincidence: the Energy Information Administration reported that US oil production had hit a new record high. US crude production in the first week of […]

Big Oil: Upstream M&A Gets Serious

(WoodMac, 26.Oct.2023) — ExxonMobil’s and Chevron’s belief in the durability of upstream could hardly be better demonstrated by the game-changing acquisitions of two flagship US Independents. It’s a pivotal moment for the sector and widens the strategic gulf with the Euro Majors. Here are our team’s thoughts. First, what drove […]

Marathon Declares 3Q:23 Dividend

(Marathon, 25.Oct.2023) — Marathon Oil Corporation‘s (NYSE: MRO) board of directors has declared a dividend of 11 cents per share on Marathon common stock. The dividend is payable on 11 Dec. 2023, to stockholders of record on 15 Nov. 2023. “This is the eighth increase to our base dividend in the last eleven […]

Hess Reports 3Q:23 Operational Highlights [PDF Download]

(Hess, 25.Oct.2023) — Hess Corporation (NYSE: HES) reported net income of $504mn, or $1.64 per share, in the third quarter of 2023, compared with net income of $515mn, or $1.67 per share, in the third quarter of 2022. On an adjusted basis, the corporation reported net income of $583mn, or […]

Baker Hughes Reports 3Q:23 Results [PDF Downloads]

(Baker Hughes, 25.Oct.2023) — Baker Hughes Company (Nasdaq: BKR) announced results today for the third quarter of 2023. Highlights: Orders of $8.5bn for the quarter, up 40% year-over-year.Revenue of $6.6bn for the quarter, up 24% year-over-year.Net income attributable to Baker Hughes company of $518mn for the quarter, up $534mn year-over-year. Adjusted net income attributable to Baker Hughes (a non-GAAP measure) of $427mn for the quarter, up $163mn year-over-year.GAAP diluted […]

TotalEnergies Awarded 25-year Renewable Deal in New York

(TotalEnergies, 25.Oct.2023) — TotalEnergies and its partners, Corio Generation and Rise Light & Power announce that New York State selected their Attentive Energy One project for a 25-year contract to supply 1.4 GW of renewable electricity. Attentive Energy One, a joint venture between TotalEnergies (40%), Rise (35%) and Corio (25%), received the […]

CARICOM Comments on Guyana-Venezuela Board Dispute

(CARICOM, 25.Oct.2023) — The Caribbean Community (CARICOM) notes the decision of the Venezuelan National Assembly to conduct a popular referendum on defending Venezuela’s claim of the Essequibo. CARICOM further notes that two of the questions approved to be posed in the Referendum, if answered in the affirmative, would authorise the […]

Nabors Reports 3Q:23 Results

(Nabors, 25.Oct.2023) — Nabors Industries Ltd. (NYSE: NBR) reported third quarter 2023 operating revenues of $734mn, compared to operating revenues of $767mn in the second quarter. The net loss attributable to Nabors shareholders for the quarter was $49mn, compared to net income of $5mn in the second quarter. This equates to a loss of $6.26 per diluted share, compared […]

England
UK

BP Fair Fund to Compensate Certain Investors in BP plc Ordinary Shares

(RCB Fund, 24.Oct.2023) — RCB Fund Services LLC, the Distribution Agent for the BP plc Fair Fund, announces the opening of the claims process for the BP Fair Fund for Ordinary Shareholders. The United States Securities and Exchange Commission (SEC) established the BP Fair Fund to distribute funds to investors […]

Venture Global Closes $4bn Senior Secured Notes Offering

(Venture Global LNG, 24.Oct.2023) — Venture Global LNG, Inc. closed its offering of $4bn aggregate principal amount of senior secured notes which have been issued in two series: (i) a series of 9.500% senior secured notes due 2029 in an aggregate principal amount of $2.5bn (the “2029 Notes”) and (ii) a series of 9.875% […]

CGG Joins Phase 3 of HNET Seismic Monitoring Network

(CGG, 24.Oct.2023) — CGG has joined Phase 3 of the HNET Horda Platform Region Project led by industry partners to monitor background seismicity at the Northern Lights CO2 storage project, the world’s first large-scale open-source infrastructure for receiving and storing CO2 from multiple sources and industries. As a project partner, […]

CNOOC Limited Releases 3Q:23 Operating Results

(CNOOC, 24.Oct.2023) — CNOOC Limited (SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announced its operating results for the third quarter of 2023. In the first three quarters of the year, the company continued to step up its efforts in exploration and development, thereby obtaining steady growth […]

Range Announces 3Q:23 Results [PDF Download]

(Range Resources, 24.Oct.2023) — Range Resources Corporation (NYSE: RRC) announced its third quarter 2023 financial results. ____________________

FMC Updates to 3Q:23 and YE:23 Outlook

(FMC, 23.Oct.2023) — FMC Corporation (NYSE:FMC) provided an update on third quarter expectations compared to its previously provided outlook. Revenue in the third quarter is now expected to be $982mn with adjusted EBITDA of $175mn and adjusted earnings per share of $0.44. The revised outlook is mainly driven by substantially lower sales volumes in Latin America, […]

Argentina Lithium engages Resource Stock Digest for marketing contract

(Argentina Lithium & Energy Corporation, 23.Oct.2023, Words: 177) — Argentina Lithium & Energy Corp. has entered into a services agreement with Resource Stock Digest (RSD), of 1020 Dyer Creek Place, Round Rock, Texas, pursuant to which, among other things, RSD has agreed to provide certain promotional services to the corporation in accordance […]

Eni Inks LNG Deal Related to Qatar’s North Field East Expansion Project

(Eni, 23.Oct.2023) — Eni signed a long-term contract with QatarEnergy LNG NFE (5), the JV between Eni and QatarEnergy for the development of the North Field East (NFE) project in Qatar, for the delivery of up to 1.5 billion cubic meters per annum (bcma) of LNG. The available volumes will […]

Nucor Corp. Reports 3Q:23 Results

(Nucor, 23.Oct.2023) — Nucor Corporation (NYSE: NUE) announced consolidated net earnings attributable to Nucor stockholders of $1.14bn, or $4.57 per diluted share, for the third quarter of 2023. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $1.46bn, or $5.81 per diluted share, for the second quarter of 2023 and $1.69bn, or $6.50 per diluted share, for […]

Venezuelan Oil-Sanctions Relief Was Just Announced. It Could Be Tested Soon

(Barron’s, 23.Oct.2023) — The U.S. administration’s new oil sanctions relief toward Venezuela is broad-ranging and impactful. It’s unlikely to have any immediate effect on international oil prices, but it will likely realign the regional oil trade, which will benefit the U.S. refining system. It will also test whether a different foreign policy—and […]

Welligence says Hess Corporation gives Chevron Atlantic margin exposure

PANAMA CITY, PANAMA (Energy Analytics Institute, 23.Oct.2023, Words: 203) — US-based Chevron Corporation will acquire Hess Corporation for $60bn (including net debt), the second giant transaction of Oct. 2023 following the $65bn move by ExxonMobil to acquire Pioneer Natural Resources Company, both in all-stock transactions, Welligence Energy Analytics wrote 23 […]

Venezuela’s Heavy Oil Output Rises Limited Following US Sanctions Relief: EIA

(EIA, 23.Oct.2023) — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) effectively lifted most U.S. sanctions on Venezuela’s energy sector on October 18 for six months, paving the way for additional exports of the heavy, sour crude oil the country produces. That type of crude oil has been […]

Petrobras on Proposal to Revise its Bylaws to be Submitted to EGM

(Petrobras, 23.Oct.2023) — Petrobras informs that its Board of Directors has approved, by majority vote, the submission of a proposal to revise its Bylaws to the Extraordinary General Meeting (EGM), to be convened in due course. The objectives of the revision of Petrobras’ Bylaws are to create a capital remuneration […]

Chevron to Acquire Hess in $53bn All-Stock Deal

(Chevron, 23.Oct.2023) — Chevron Corporation (NYSE: CVX) has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53bn, or $171 per share based on Chevron’s closing price on 20 October 2023. Under the terms […]

Colombia Eyes Country’s First Offshore Wind Auction

(Energy Analytics Institute, 22.Oct.2023) — Colombia government expects to reveal detail about the first offshore wind energy auction in Colombia and Latin America. The Colombian Ministry of Mines and Energy, the Maritime Authority (Dimar) and the National Hydrocarbons Agency (ANH) invite all those interested in the first seabed allocation competitive […]

Africa
Congo

Eni Reports Sail Away of the Tango FLNG, Excalibur FSU Vessels to Congo

(Eni, 21.Oct.2023) — In the presence of Bruno Jean Richard Itoua, Minister of Hydrocarbons of the Republic of the Congo, Maixent Raoul Ominga, Managing Director of SNPC, and Guido Brusco, Eni’s Chief Operating Officer Natural Resources, today Eni celebrated the sail away of the Tango Floating Liquefied Natural Gas (FLNG) […]

Fast Output Recovery Still Challenging in Venezuela

(WoodMac, 20.Oct.2023) — Addressing the US Treasury Department’s partially lifted sanctions on Venezuela’s oil and gas sector, Adrian Lara, principal research analyst, Latin America Upstream Oil and Gas for Wood Mackenzie said, “Although still conditioned by a subsequent renewal, this new easing of sanctions can certainly be considered a positive move […]

Nucor Exploring Potential Sites in the Pacific Northwest to Build New Rebar Micro Mill

(Nucor, 20.Oct.2023) — Nucor Corporation (NYSE: NUE) is exploring potential sites in the Pacific Northwest to build a new rebar micro mill with an annual capacity of 650,000 tons, subject to approval by Nucor’s Board of Directors. The new mill would produce a full range of rebar sizes and have spooling […]

Silver Viper Further Amends Rubi-Esperanza Option Agreement

(Silver Viper Minerals, 20.Oct.2023) — Silver Viper Minerals Corp. (TSXV: VIPR) (OTC: VIPRF) announced that, further to its press release April 6, 2023, it has amended the terms of the Rubi-Esperanza Option Agreement with respect to its right to purchase 100% ownership of three mineral concessions covering 2,102 hectares at the […]

AG&P Group Announces Exciting Changes in Leadership

(AGP, 20.Oct.2023) — AGP international Holdings Pte Ltd. (AGPIH/AG&P Group) announced several changes in its leadership team. At the Group level, effective 15 October 2023, Mr. Karthik Sathyamoorthy has been appointed as the Chief Executive Officer for AG&P Group. He will continue to remain the CEO of AG&P LNG Terminals & Logistics […]

SLB Reports Strong 3Q:23 Results [PDF Downloads]

(SLB, 20.Oct.2023) — SLB (NYSE: SLB) announced results for the third-quarter 2023 and SLB CEO Olivier Le Peuch commented: “Our third-quarter results continue to reflect strong year-to-date performance with revenue and adjusted EBITDA growth of 19% and 28%, respectively. These results, which reinforce our full-year financial ambitions, were driven by sustained growth […]

Canacol On Canceling EPM Sales Contract, Strategic Entrance into Bolivia

(Canacol, 19.Oct.2023) — Canacol Energy Ltd. (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) announces that the long term take or pay gas sales contract with Empresas Publicas de Medellin E.S.P. (“EPM”), previously scheduled to commence deliveries on 1 December 2024 (the “Project”) has been terminated by the corporation. As of the time of termination […]

Glaucus-1 Well Confirms Extension of Gas Province Offshore Colombia

(Ecopetrol, 19.Oct.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) confirms that the Glaucus-1 well has verified the presence of natural gas in the deep waters of the southern Colombian Caribbean, underscoring the significance of the gas reserve in this region of the country. The well is situated 75 kilometers off the Caribbean coast, with […]

Europe
Italy

Enilive’s Diesel from 100% Renewable Raw Materials Powers Lannutti’s Fleet

(Eni, 19.Oct.2023) — Enilive (Eni Sustainable Mobility), through the Eni Fuel company, and Lannutti Group, a leading operator in the logistics and road transport sector, have signed an agreement for the use of HVOlution, a diesel fuel produced from 100% renewable raw materials*. With 300 trucks in its Italian fleet […]

Frontera on 3Q:23 Financial Results and Conf. Call

(Frontera, 19.Oct.2023) — Frontera Energy Corporation (TSX: FEC) announces that its third quarter 2023 results will be released after markets close on Thursday, 9 November 2023. A conference call for investors and analysts will be held on Friday, 10 November 2023, at 10:00 a.m. Eastern Time. Participants will include Gabriel de Alba, Chairman of […]