ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

OPEC’s Barkindo Visits Jose Antonio Anzoátegui Petrochemical Complex

(Energy Analytics Institute, 11.May.2022) —The Organization of Petroleum Exporting Countries (OPEC) Secretary General Mohammad Barkindo and an OPEC delegation visited the ‘Jose Antonio Anzoátegui Petrochemical Complex’ in Anzoátegui State during their working visit to Venezuela. The upgrading complex is composed of four main upgraders and a petrochemical plant. “There have […]

Lithium South Picks Groundwater Insight for Services Regarding Hombre Muerto

(Lithium South, 11.May.2022) — Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) has retained Groundwater Insight Inc. of Halifax, Nova Scotia to provide technical services regarding the Hombre Muerto North Lithium Project (HMN Li Project) located in Salta, Argentina. The services will include the preparation of a National Instrument Compliant Resource Estimate, and the […]

Pampa Energía BODs Approves Share Buyback Program

(Pampa Energía, 11.May.2022) — Pampa Energía S.A. (NYSE: PAM; ByMA: PAMP) informs that on the date hereof, the Board of Directors of Pampa approved the new program to repurchase own shares. Below it is described the terms and conditions for the new share repurchase program, which will be in force […]

Maersk Drilling Secures Extension for Mærsk Developer in Brazil

(Maersk Drilling, 10.May.2022) — Karoon Energy Ltd has exercised options to add the drilling of up to two wells at the Neon field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer. The contract extension has a duration of 80 days, in direct continuation of the rig’s previous […]

Petrobras Concludes Divestment of Potiguar Basin E&P Asset

(Petrobras, 10.May.2022) — Petrobras, following up on the release disclosed on 27 December 2021, finalized the sale, together with Sonangol Hidrocarbonetos Brasil Ltda., of all the stakes held by both companies in the onshore exploratory block POT-T-794, belonging to the BT-POT-55A concession, located in the Potiguar Basin, in the state […]

Petrobras Concludes Divestment of Onshore Fields in Bahia

(Petrobras, 10.May.2022) — Petrobras, following up on the release disclosed on 17 December 2020, informs that today it concluded the sale of its entire stake in fourteen onshore exploration and production fields, called Recôncavo Cluster, located in the state of Bahia, to 3R Candeias S.A., previously named Ouro Preto Energia […]

Petrobras Starts Binding Phase for Sergipe-Alagoas Basin E&P Assets

(Petrobras, 10.May.2022) — Petróleo Brasileiro S.A. (Petrobras), following up on the release disclosed on 04/11/2022, informs that today it started the binding phase regarding the sale of its total participation in the Tartaruga field, located in shallow waters of the Sergipe-Alagoas Basin, state of Sergipe. Potential buyers qualified for this […]

Diamond Offshore Reports 1Q:22 Drilling Contract Revenue of $150mn

(Diamond Offshore, 10.May.2022) — Diamond Offshore Drilling, Inc. (NYSE: DO) reported the following results for the first quarter of 2022. Three Months Ended Thousands of dollars, except per share data 31 Mar. 2022 31 Dec. 2021 Total revenues $186,239 $227,278 Operating loss (33,916) (127,296) Adjusted operating (loss) income (33,916) 5,153 Adjusted […]

ACE Green Recycling to Build North America’s Largest Green Battery Recycling Park in Texas

(ACE Green, 10.May.2022) — Recycling technology company, ACE Green Recycling (ACE) is announcing its plans to build and operate North America’s largest emissions-free and sustainable battery recycling park in Texas, USA. The 400,000 square foot facility will be able to recycle both lead-acid and lithium-ion batteries when fully operational. These batteries are key elements in […]

UAE Delegation Explores Opportunities of Energy Transition with the US

(UAE Embassy, 10.May.2022) — His Excellency Dr. Sultan Ahmed Al Jaber, the UAE Minister of Industry & Advanced Technology and Special Envoy for Climate Change, began a visit to the United States to accelerate joint initiatives on the economic growth opportunities of the energy transition, outline UAE investment initiatives to increase production capacity, […]

Ecopetrol Group Reports 1Q:22 Results [PDF Download]

(Ecopetrol, 10.May.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announced the Ecopetrol Group’s financial results for the first quarter of 2022. Table 1: Financial Summary Income Statement –Ecopetrol Group Billion (COP) 1Q 2022 1Q 2021 ∆ ($) ∆ (%) Total sales 32,473 17,206 15,267 88.7% Depreciation and amortization 2,579 2,237 342 15.3% […]

NRGBriefs: Colombia Boosts Reserves; Trinidad’s Young Talks Gas on CNN

(Energy Analytics Institute, 10.May.2022) — Energy briefs including Colombia’s National Hydrocarbon Agency (ANH) President Armando Zamora Reyes and Colombia’s Mines and Energy Minister Diego Mesa Puyo announcing during a joint press conference in Bogotá details of slight rises in the country’s crude oil and natural gas reserves; Trinidad and Tobago […]

Venture Global Reveals LNG Agreement with ExxonMobil

(Venture Global, 10.May.2022) — Venture Global LNG announced the execution of two new long-term Sales and Purchase Agreements (SPAs) with ExxonMobil LNG Asia Pacific (EMLAP) for the sale of 2 million tonnes per annum (MTPA) of liquefied natural gas (LNG). Under the agreements, the ExxonMobil affiliate will purchase 1 MTPA […]

Petrobras to Pay Complementary Dividends

(Petrobras, 10.May.2022) — Petrobras informs that will pay, on Monday, 05/16/2022, complementary dividends referred to the 2021 fiscal year, based on shareholding position as of 04/13/2022, in connection to the Material Fact released on that date. The amount of dividends to be paid will be adjusted by Selic interest rate […]

Edenor Reveals Expiration and Final Tender Results for its Senior Notes due 2022

(Edenor, 10.May.2022) — Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) announced that its offer to exchange any and all of its outstanding 9.75% Senior Notes due 2022 (the “Existing Notes“) for the applicable amount of newly issued 9.75% Senior Notes due 2025 (the “New Notes“) and cash, as applicable, made upon […]

Petrobras Raises Diesel Prices Despite Bolsonaro Complaints

(Bloomberg, 9.May.2022) — Brazil’s state-controlled oil giant Petroleo Brasileiro SA raised domestic diesel prices just days after President Jair Bolsonaro bashed the company for too-high profits. After holding prices stable since March, Petrobras announced an 8.9% increase in diesel prices for distributors to 4.91 reais a liter ($0.96), it said […]

Colombian Environmental Activists Deluged by Threats

(Al Jazeera, 9.May.2022) — Environmental activists Fabian Urquijo and Jhordan Peinado, who hail from Colombia’s Santander region, received an eerie warning in February. They were named in a pamphlet shared by the Gulf Clan paramilitary group, warning that they would be killed if they did not give up their activism. More than […]

NRGBriefs: CGX, Frontera on Guyana; Barkindo’s OPEC Wind-down

(Energy Analytics Institute, 9.May.2022) — Energy briefs including CGX and Frontera executives briefing the media on the Kawa-1 and Wei-1 exploration wells offshore Guyana; and OPEC Secretary General Mohammad Barkindo (from Nigeria) preparing to step down from his leadership post at the organization in August 2022. LATIN AMERICA AND CARIBBEAN […]

Gas Entec Converts LNG Carrier to M-FSRU Unit for KARMOL

(AG&P, 9.May.2022) — GAS Entec, a subsidiary of Atlantic Gulf & Pacific International Holding (AG&P), completed the conversion of a 125,000m³ LNG carrier (LNGC) for KARMOL, a joint-venture between Turkey’s Karpowership and Japan’s Mitsui OSK Lines (MOL), into an 84 mmscfd Modular Floating Storage and Regasification Unit (M-FSRU) with capacity to scale from 15 to 300 […]

CGX and Frontera Find Light Oil and Gas Condensate at Kawa-1

(Frontera, 9.May.2022) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana, announced integrated results from the Kawa-1 exploration well, offshore Guyana. The Kawa-1 well was drilled in water depth of approximately 355 meters (1,174 ft) […]

Noble Corp. and Maersk Drilling Update on Merger Process

(Noble, 9.May.2022) — Noble Corporation (NYSE: NE) and The Drilling Company of 1972 A/S (CSE: DRLCO) (Maersk Drilling, and together with Noble, the “Parties”) provided an update on the ongoing merger control process for the business combination announced on 10 November 2021. On 22 April 2022, the UK Competition and […]

OPEC’s Mohammad Barkindo Visits Venezuela

(Energy Analytics Institute, 7.May.2022) — OPEC (Organization of Petroleum Exporting Countries) Secretary General Mohammad Barkindo arrived in Caracas, Venezuela, on 6 May 2022 for a working visit to the South American country. Barkindo was received by a high-level delegation from the Venezuelan government headed by the Agriculture & Land Minister […]

Guyana and Brazil Agree on Actionable Framework – President Ali

(DPI, 7.May.2022) — His Excellency Dr Irfaan Ali announced that Guyana and Brazil have agreed on an “actionable framework” in the areas of food security, energy, infrastructure and national security. This announcement was made following a meeting between Brazil’s President, His Excellency Jair Bolsonaro, members of his cabinet and the Guyana […]

Guyana, Brazil Sign Treaties on Civil, Criminal Matters

(DPI, 7.May.2022) — Guyana and Brazil have mutually agreed to provide legal assistance in civil and criminal matters, through the signing of two bilateral agreements, at the Arthur Chung Conference Centre (ACCC) on Friday. The signing of the treaties, which were done by Minister of Foreign Affairs and International Cooperation, […]

NRGBriefs: Nigeria’s Barkindo Visits with Venezuelan Authorities

(Energy Analytics Institute, 7.May.2022) — Energy briefs including the Organization of Petroleum Exporting Countries (OPEC) Secretary General Mohammad Barkindo visiting Venezuela to participate in meetings with the South American country’s high authorities. LATIN AMERICA AND THE CARIBBEAN Venezuela — The Organization of Petroleum Exporting Countries (OPEC) Secretary General Mohammad Barkindo, […]

NRGBriefs: Petrobras EBITDA; LatAm Disintegration; Suriname’s Blk 58

(Energy Analytics Institute, 6.May.2022) — Energy briefs including Brazil’s state oil giant Petróleo Brasileiro S.A. (Petrobras) reporting earnings before interest, taxes, depreciation and amortization of $15.1bn in 1Q:22; energy and other disintegration in the Latin America and Caribbean (LAC) region; APA Corporation and TotalEnergies said getting closer to achieving their […]

Zacatecas Silver Receives Permits for 30 Drill Pads at El Cristo

(Zacatecas Silver, 6.May.2022) — Zacatecas Silver Corp. (TSXV: ZAC) (OTC: ZCTSF) (FSE:7TV) provided an update on the El Cristo Vein System located within the Zacatecas Property. Highlights: The Secretariat of Environment and Natural Resources of Mexico (SEMARNAT) has approved 30 drill permits at El Cristo which will allow drill targeting throughout the extensive […]

Exclusive-Guyana in ‘No Rush’ to Draft New Oil Production-Sharing Pact -Minister

(Reuters, 6.May.2022) — Guyana is in “no rush” to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output. The government of South America’s newest crude oil producer said in 2021 it […]

Venezuela’s Oil Exports Drop 8% in April amid Quality-linked Delays

(Reuters, 6.May.2022) — Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel monitoring data on Thursday. U.S.-sanctioned Venezuela recovered a portion of lost production last year, but crude shipments have been […]

Colombia to Promote Foreign Investment Opportunities in NYC Event

(ProColombia, 6.May.2022) — Colombia InsideOut, the country’s flagship event for the promotion of foreign investment abroad will be held next 10 and 11 May 2022, at the facilities of Citi‘s headquarters in New York City. Led by the Colombian Securities Exchange (bvc) and ProColombia, the government agency in charge of promoting […]

Asia
Japan

Inpex Starts Exploratory Ops Offshore Japan

(Inpex, 6.May.2022) — Inpex Corporation commenced exploratory drilling operations offshore Shimane and Yamaguchi prefectures in Japan on 5 May 2022 after carrying out preparation work through Inpex Sanin Offshore Development Co., Ltd., a subsidiary tasked with conducting exploration and development operations. The project involves conducting exploratory drilling surveys at a […]

wpd to Sell Offshore Wind Business to Global Infrastructure Partners

(GIP, 6.May.2022) — Global Infrastructure Partners (GIP), an independent infrastructure investor, and wpd AG, a project developer and independent renewables power producer (IRPP) for onshore wind, offshore wind and solar, signed definitive agreements for GIP to acquire 100% of wpd offshore GmbH, the offshore wind business of wpd. The transaction […]

AES Expands Renewable Energy Agreement with Microsoft to California Data Centers

(AES, 5.May.2022) — The AES Corporation (NYSE: AES) today announced a 20-year agreement with Microsoft to provide renewable energy to its data centers in California. The agreement expands upon prior renewable energy agreements between the two companies, with AES supporting Microsoft in its pursuit of its 100/100/0 by 2030 goal. Microsoft, one of the world’s largest purchasers of renewable energy, will […]

AES Reveals Deals to Provide 450 MW of Renewable Energy to Amazon

(AES, 5.May.2022) — The AES Corporation (NYSE: AES) announced it has entered into two renewable energy Power Purchase Agreements (PPAs) with Amazon. As part of the agreements, AES will deliver renewable energy in the CAISO (California Independent System Operator) market and source it from a combined 450 MW of solar […]

Petrobras Comments on Shareholders Remuneration

(Petrobras, 5.May.2022) — Petróleo Brasileiro S.A. (Petrobras) informs that its Board of Directors, at a meeting held today, approved the payment of a dividend in the amount of R$ 3.715490 per outstanding preferred and common share. The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that […]

Brazil’s President Calls Petrobras Profits a ‘Rape’

(Reuters, 5.May.2022) — Brazilian President Jair Bolsonaro on Thursday urged state-run oil company Petrobras not to raise fuel prices again, and compared the company’s profits to a “rape” of the country. The far-right leader said a new fuel price hike by Petroleo Brasileiro SA, as the company is formally known, […]

Ecopetrol says Fracking Could Boost Reserves by up to 15 Years

(Reuters, 5.May.2022) — The use of commercial fracking in Colombia could boost oil and gas reserves by between 12 and 15 years, majority state-owned oil producer Ecopetrol said on Thursday, adding it expects a ruling on the suspended environmental license for a fracking pilot project to come in June. Supporters […]

Sempra Announces 1Q:22 Earnings of $612mn

(Sempra, 5.May.2022) — Sempra (NYSE: SRE) (BMV: SRE) today announced first-quarter 2022 earnings of $612mn, or $1.93 per diluted share, compared to first-quarter 2021 earnings of $874mn, or $2.87 per diluted share. On an adjusted basis, the company’s first-quarter 2022 earnings were $924mn, or $2.91 per diluted share, compared to $900 million, or $2.95 per diluted share, in 2021. “At Sempra, we understand […]

Pan American Silver Reveals Sustainability Report for 2021

(Pan American Silver Corp., 5.May.2022) — Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) released its 2021 Sustainability Report, describing Pan American’s efforts and performance in the areas of environment, social and governance. A Spanish version of the report will be released soon. Highlights of Pan American’s 2021 sustainability performance include: Environment Reduced greenhouse […]

AES Gets Investment Grade Rating, Reaffirms 2022 Adj. EPS Guidance

(AES, 5.May.2022) — The AES Corporation (NYSE: AES) reported financial results for the quarter ended 31 March 2022. Strategic Accomplishments With investment grade credit rating from Moody’s, attained investment grade ratings from all three major ratings agencies Signed or awarded 1.1 GW of PPAs for new renewable energy projects in the first […]

Unlikely Exxon Guyana to Sustain Production Target for 2027

(Energy Analytics Institute, Special Contributor Millan Arcia Einstein, 5.May.2022) — New hydrocarbon discoveries offshore Guyana, were announced last week totaling 31 so far. Exxon-Guyana claims resources around 11,000 million barrels (MMbbls), although as previously said, net crude oil recoverable reserves will ultimately be not far from the 4,400 to 3,100 […]

Latin America and the Caribbean

Murphy Reports 1Q:22 Net Loss of $113mn

(Murphy, 4.May.2022) — Murphy Oil Corporation (NYSE: MUR) announced its financial and operating results for the rst quarter ended 31 March 2022, including a net loss attributable to Murphy of $113mn, or $0.73 net loss per diluted share. Adjusted net income, which excludes discontinued operations and other one-o items, was […]

Petrobras to Invest $5.5bn in Extracting Activity in the Next Five Years

(Petrobras, 4.May.2022) — A Petrobras executive highlighted new discoveries in oil and gas during Bratecc meeting, a parallel event to the Offshore Technology Conference (OTC), in Houston (USA). The recent pre-salt oil discoveries, in the Central Alto de Cabo Frio and Aram areas, open up a scenario of new extraction […]

Ecopetrol on Sanction Imposed by ANLA Related to Poliducto Andino

(Ecopetrol, 4.May.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that the Agencia Nacional de Licencias Ambientales (ANLA) notified on 3 May 2022 through Resolution 881 that Ecopetrol had been declared responsible of undertaking during the construction phase of the hydrocarbon transportation Poliducto Andino project, works that were not covered […]

APA Corp. Reports 1Q:22 Production of 404,000 BOE/D

(APA Corporation, 4.May.2022) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first-quarter 2022. APA reported net income attributable to common stock of $1.9bn, or $5.43 per diluted share. When adjusted for items that impact the comparability of results, most notably the gains on the closing […]

Petrobras Concludes Divestment of Bahia Terra Cluster

(Petrobras, 4.May.2022) — Petrobras, regarding the news published in the media, informs that it has concluded the new round of the sale process binding phase of the onshore production fields located in the Recôncavo and Tucano Basin, in the state of Bahia, jointly called Bahia Terra Cluster. The consortium formed […]

Talos Energy Reveals 1Q:22 Results, Increases Borrowing Base

(Talos, 4.May.2022) — Talos Energy Inc. (NYSE: TALO) announced its operational and financial results for the first quarter of 2022 and the increase of its borrowing base under the company’s reserves-based lending (“RBL”) credit facility as part of its semi-annual redetermination process. Key Highlights: Production of 63.2 thousand barrels of oil […]

Ecopetrol and Petrobras spud Uchuva-1 Well offshore Colombia

HOUSTON, TEXAS (Energy Analytics Institute, 4.May.2022) — State oil companies Ecopetrol and Petrobras spud the Uchuva-1 well offshore Colombia’s Caribbean coast in the Tayrona Block. Uchuva-1 will test the hydrocarbon structure located offshore La Guajira and investigate exploration potential in a new area, Bogotá-based Ecopetrol announced 4 May 2022 in […]

Höegh LNG Inks Two FSRU Deals in Germany

(Höegh LNG, 4.May.2022) — Höegh LNG Holdings Ltd. signed binding implementation agreements with the German Federal Ministry for Economic Affairs and Climate Action to charter out two FSRUs from its fleet for operations in Germany for 10 years. The detailed FSRU contracts are scheduled to be completed by September/October, and […]

NRGBriefs: Marathon’s Equatorial Guinea Output; Murphy on Brazil and Mexico

(Energy Analytics Institute, 4.May.2022) — Energy and political briefs including Marathon Oil reporting 1Q:22 production from Equatorial Guinea of 64 net Mboe/d; the US providing over $6mn in additional humanitarian assistance to support Venezuelan refugees and migrants, and their host communities in Chile; and US Department of State Assistant Secretary […]