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.

Aris Mining Announces High Grade Drilling Results

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(Aris Mining, 16.Aug.2023) — Aris Mining Corporation (TSX: ARIS) (OTCQX: TPRFF) announces the results received to date from its ongoing 2023 exploration program at its Segovia Operations in Colombia. The 84,500 metre (m) exploration drilling program is now 58% complete. Neil Woodyer, CEO of Aris Mining, commented “Our program encompasses the exciting […]

SQM Reports Earnings for Six Months Ended 30 June 2023

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(SQM, 16.Aug.2023) — Sociedad QuĂ­mica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported earnings for the six months ended 30 June 2023 of $1,330.1mn ($4.66 per ADR), a decrease of approximately 20% from $1,655.4mn ($5.80 per ADR) for the six months ended 30 June 2022. Gross profit reached $1,920.7mn (44.5% of […]

Petrobras on FPSO Anita Garibaldi

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(Petrobras, 16.Aug.2023) — Petrobras informs that it put into production, this Wednesday, 16 August 2023, the Anita Garibaldi platform ship in the Campos Basin. Of the FPSO type (floating system that produces, stores and transfers oil), the unit will operate simultaneously in the post-salt and pre-salt of the Marlim and […]

Desert Mountain Moves Helium Processing Facility to New Mexico

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(Desert Mountain Energy Corp., 16.Aug.2023) — Desert Mountain Energy Corp. (TSXV: DME) (U.S.OTC: DMEHF) (Frankfurt: QM01) has successfully completed the disassembly of the helium processing plant. All components have been transported to the West Pecos Slope Abo Gas Field and reassembly has begun. The company expects this process to take […]

Petrobras on Tax Liabilities

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(Petrobras, 15.Aug.2023) — Petrobras, in relation to the news released in the media, clarifies that any decisions regarding the management of its tax liabilities are based on careful analysis and technical studies, in compliance with governance practices and applicable internal procedures, considering the analysis of risks of possible unfavorable decisions […]

Petrobras on Paraná Fertilizer Plant

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(Petrobras, 14.Aug.2023) — Petrobras informs that it is in the final phase of studies for the resumption of fertilizer production at Araucária Nitrogenados (ANSA), its subsidiary in Paraná. After finalizing the technical and economic feasibility studies, the resumption project will be submitted for approval by the company’s Executive Board and […]

Orvana Reports Quarterly Results

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(Orvana, 11.Aug.2023) — Orvana Minerals Corp. (TSX: ORV) reports consolidated financial and operational results for the quarter ended 30 June 2023. Q3 FY2023 Orovalle Highlights: Production of 13,398 gold equivalent ounces (1) (11,522 gold ounces, 0.8 million copper pounds and 25,965 silver ounces). Q3 FY2023 COC at $1,392 and AISC at $1,712. YTD Q3 FY2023 COC at $1,378 and AISC at $1,667. […]

Africa Energy Announces 2Q:23 Results [PDF Download]

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(Africa Energy Corporation, 11.Aug.2023) — Africa Energy Corp. (TSXV: AFE) (Nasdaq First North: AEC) announces financial and operating results for the three and six months ended June 30, 2023.  OUTLOOK The Block 11B/12B1 joint venture has applied for the Production Right and is contemplating an early production system (“EPS”) for a phased development of […]

Petrobras Pondering Petrochemical Sector Strategy

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(Petrobras, 10.Aug.2023) — Petrobras, regarding the pieces of news published in the media, about its participation in Braskem, reaffirms that it is currently developing analyses to define the best alternative for the execution of its strategy in the petrochemical sector within the scope of its Strategic Planning. In this sense, […]

Lithium South on Production Well Program

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(Lithium South, 10.Aug.2023) — Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ) has formalized a contract with Well Drilling of Salta, Argentina, for the provision of a two-phase program of up to six production/pumping wells for the Hombre Muerto North Lithium Project (HMN Li Project), located in Salta Province, Argentina. Phase One […]

Tullow Sells Interest in TGBV to Eco Guyana

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(Tullow, 10.Aug.2023) — Tullow Oil Plc agreed to sell its total interest in Tullow Guyana B.V. (TGBV), which includes the Orinduik licence (Tullow 60% operated equity) in Guyana to Eco Guyana Oil and Gas (Barbados) Limited in exchange for a combination of upfront cash and contingent consideration. “This transaction is […]

Braskem Records Quarterly Recurring EBITDA of $140mn

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(Braskem, 9.Aug.2023) — Braskem S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) the largest resin producer in the Americas and the world’s leading biopolymers producer, presents its 2Q23 Earnings Release. 2Q23 HIGHLIGHTS  CONSOLIDATED Recurring EBITDA of US$140 MM, about R$703 million. Lower than 1Q23 (US$205 MM) and 2Q22 (US$802 MM). Liquidity of US$2.9 bi, return on cash flow of […]

COP28 President-Designate Stands with Brazil’s Lula da Silva

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(COP28, 9.Aug.2023) — Following talks at the Amazon Cooperation Treaty Organization (ACTO) Summit in the city of BelĂ©m, COP28 President-Designate Dr. Sultan Al Jaber and Brazil’s President Lula da Silva have expressed their joint commitment to deliver a more equitable climate future, by putting nature at the core of the climate agenda at  COP28. COP28 President-Designate Dr. Sultan Al Jaber commends […]

Petrobras on Strategic Plan 2024-2028

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(Petrobras, 7.Aug.2023) — Petrobras, in relation to the news released in the media and as disclosed to the market on 06/01/2023, informs that the Strategic Plan 2024- 2028 will have as a driver, among others, the forecast of low-carbon CAPEX for the range between 6% and 15% of the total […]

CSI Continues Leverage Reduction

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(CSI, 7.Aug.2023) — CSI Compressco LP (NASDAQ: CCLP) announced second quarter 2023 results. Second Quarter 2023 Results: Total revenues were $96.8mn compared to $84.5mn in the second quarter 2022. Contract services revenue increased to $70.5mn compared to $64.3mn in the second quarter 2022. Net loss was $2.6mn compared to a net loss of $6.8mn in the second quarter 2022. Adjusted EBITDA was $32.5mn compared to $26.4mn in […]

Scala Data Centers Enables New Hyperscale Market in Chile

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(Scala Data Centers, 7.Aug.2023) — Scala Data Centers, the leading Latin American platform of sustainable data centers in the Hyperscale market, announces the start of the SSCLCR01 data center operations, located in Curauma, ValparaĂ­so region, Chile. Scala’s new data center, boasting an investment of $65mn and a robust 5MW of IT capacity, has […]

Authorities Approve JV between Aker Solutions, SLB and Subsea7

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(Aker, 4.Aug.2023) — Reference is made to the stock exchange release 30 August 2022 regarding the agreements to form a subsea joint venture with SLB and Subsea 7. Closing is subject to regulatory approvals.  Following clearance as of today by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have […]

Hot Chili Starts Drill Program At Costa Fuego Project

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(Hot Chili Limited, 3.Aug.2023) ) — Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) announced that drilling has re-commenced across the western extension of the Cortadera porphyry resource, part of the Company’s Costa Fuego Copper-Gold Project located 600 km north of Santiago, at low elevation (<1,000 m) in the coastal range […]

Eni Revokes Force Majeure on Three Exploration Assets in Libya

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(Eni, 3.Aug.2023) — Eni formalized with its Libyan counterpart NOC the revocation of force majeure status on exploration areas A and B (onshore), and C (offshore), where Eni is the operator with a 42.5% stake, along with BP, 42.5%, and the Libyan Investment Authority with 15%. Force Majeure, declared in […]

Noble Reports 2Q:23 Results

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(Noble, 2.Aug.2023) — Noble Corporation plc (NYSE: NE, CSE: NOBLE) reported second quarter 2023 results. Robert W. Eifler, President and Chief Executive Officer of Noble Corporation plc, stated “Our second quarter results reflected solid operational and financial performance. Our recent initiation of a quarterly dividend starting at $0.30 per share, combined with $60mn of share […]

Bristow Group Reports 2Q:23 Results

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 (Bristow, 2.Aug.2023) — Bristow Group Inc. (NYSE: VTOL) reported net loss attributable to the company of $1.6mn, or $0.06 per diluted share, for its quarter ended June 30, 2023 (the “Current Quarter”) on operating revenues of $311.5mn compared to net loss attributable to the company of $1.5mn, or $0.05 per diluted share, for the quarter ended 31 March 2023 (the “Preceding […]

MPC Energy on Developments in Panama and El Salvador

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 (MPC Energy, 31.Jul.2023) — MPC Energy Solutions (MPCES, Company) announced its H1 2023 results today. MPCES generated 40.4 GWh of electricity from its power-generating projects in the first six months of 2023, corresponding to USD 3.5 million in revenues and USD 2.3 million EBITDA. The total revenue and EBITDA, including the Company’s trading activities […]

Ecopetrol on Operation to Sanction Hydrocarbon Theft and Smuggling

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 (Ecopetrol, 31.Jul.2023) — Considering the information known to public, the Board of Directors of Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reiterates the press release issued by the company yesterday, which stated that Ecopetrol, Cenit and Oleoducto de Colombia have actively collaborated with the different authorities for the execution of the “Bunkering Imperio” operation. In […]

TotalEnergies Named Most-admired Explorer in WoodMac Survey

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(WoodMac, 27.Jun.2023) — French major TotalEnergies has been named the upstream industry’s most-admired explorer and received the Discovery of the Year award in Wood Mackenzie’s industry-leading annual Exploration Survey. Dr. Andrew Latham, Senior Vice President, Energy Research, at Wood Mackenzie, said “For the third time in our industry-leading survey, TotalEnergies […]

Petrobras 2Q:23 Results [PDF Downloads]

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(Petrobras, 26.Jul.2023) — In 2Q23, average production of oil, NGL and natural gas reached 2.64 MMboed, 1.5% lower compared to 1Q23, mainly due to higher volume of losses from stoppages and maintenance, the natural decline of mature fields and divestments. Those effects were partially offset by the ramp-up of P-71, […]

Vietnam Aims to Raise Raw Rare Earths Output to 2 MMt/y by 2030

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(Reuters, 24.Jul.2023) — Vietnam aims to raise its rare earths production to 2.02 million tonnes a year by 2030, according to a government plan reviewed by Reuters, as it seeks to tap one of the world’s largest reserves of key industrial metals. The Southeast Asian country has the world’s second-largest […]

Eni’s Chairman Welcomes Visit of Minister of Economy

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(Eni, 21.Jul.2023) — Eni’s Chairman, Giuseppe Zafarana, and CEO Claudio Descalzi welcomed the Minister of Economy and Finance, Giancarlo Giorgetti, the President of Lombardy, Attilio Fontana, the Councillor for Economic Development of Lombardy, Guido Guidesi, and the Mayor of San Donato Milanese, Francesco Squeri, to Eni’s Research Centre in Bolgiano to […]

Equinor Buys Rio Energy Including Selected Assets

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(Equinor, 21.Jul.2023) — Equinor signed an agreement with Denham Capital to acquire Rio Energy, a leading onshore renewables company in Brazil. The transaction includes selected assets and the team, while Denham Capital will retain certain assets. With the acquisition, Equinor strengthens its position as a broad energy company in the Brazilian market. […]

TGS Announces 2Q:23 Results

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(TGS, 20.Jul.2023) — TGS reported interim financial results for Q2 2023. The quarter reflected a continued improvement in market conditions, with strong growth in both POC revenues (1) and contract inflow. Financial highlights: POC revenues (1) were 241mn compared to 136mn in Q2 2022 POC EBITDA of USD 132mn versus USD 103mn […]

BW Energy Starts Third Well in Hibiscus Development

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(BW Energy, 20.Jul.2023) — BW Energy announced that production has safely started from the third well of the Hibiscus / Ruche Phase 1 development in the Dussafu licence offshore Gabon. Well performance is in line with expectations with current production at approximately 6,000 barrels per day.  The DHIBM-5H well was drilled […]

Who are Venezuela Creditors Seeking to Seize Citgo?

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(Reuters, 19.Jul.2023) — The U.S. on Wednesday approved a three-month extension to a license protecting Citgo Petroleum from creditors seeking to seize the oil refiner’s assets. The document comes as a negotiation team representing Venezuela progresses in talks with bondholders and creditors with arbitration awards from expropriation claims, a move to avoid a breakup […]

Transocean Reveals $518mn Ultra-Deepwater Contract

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(Transocean, 18.Jul.2023) — Transocean Ltd. (NYSE: RIG) announced that an independent operator awarded a 1,080-day contract for a high-specification seventh-generation, ultra-deepwater drillship in the Gulf of Mexico offshore Mexico. One of three drillships will be selected by Transocean from among Deepwater Invictus, Deepwater Thalassa, and Deepwater Proteus no later than one year prior to the earliest date in the commencement window. […]