(Energy Analytics Institute, 23.Apr.2022) — Energy and financial briefs including Argentina’s Finance Minister MartĂn Guzmán holding a wide ranging discussion in the US with International Monetary Fund (IMF) First Deputy Managing Director Gita Gopinath; and between 82% and 96% of the entire Venezuelan population is said to not have access […]
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.
Exxon Ban on LGBTQ Pride Flag Triggers Employee Backlash
(Bloomberg, 22.Apr.2022) — Exxon Mobil Corp. plans to prohibit the LGBTQ-rights flag from being flown on the corporate flagpole outside its offices during Pride month in June, prompting a furious backlash from Houston-based employees. Exxon updated company guidance on what flags can be displayed outside its offices, banning “external position […]
Greenfield Offers Energy Decommissioning for the Rocky Mountains
(Greenfield, 22.Apr.2022) — Greenfield Environmental Solutions, a decommissioning services provider for the energy sector, announced today the commencement of plugging and abandonment (“P&A”) operations in the Rocky Mountains region, including Colorado, New Mexico, Utah and Wyoming as well as the Williston Basin region in North Dakota and Montana. Greenfield is an end-to-end solutions provider for plugging and abandonment services to the […]
EAI brief analysis: Venezuela’s Faja contains 1,360 billion barrels of OOIP
CARACAS, VENEZUELA (By Piero Stewart, Energy Analytics Institute, 22.Apr.2022, Words: 130) — Venezuela is home to the Hugo Chávez Orinoco Heavy Oil Belt, also known as the Faja, which contains original oil in place (OOIP) estimated at 1,360 billion barrels, making it the world’s largest accumulation of heavy and extra-heavy […]
Third Coast Announces First Oil From the King’s Quay Floating Production System
(Third Coast, 22.Apr.2022) — Third Coast Super Holdings, LLC announced that the King’s Quay Floating Production System achieved first oil from the Khaleesi, Mormont and Samurai fields on 12 April 2022. Third Coast owns 50% of King’s Quay FPS, which is also owned in part by entities managed by Ridgewood Energy Corporation, including ILX […]
NRGBriefs: Mexico’s Preliminary March 2022 Production Details
(Energy Analytics Institute, 22.Apr.2022) — Energy briefs including preliminary production figures from Mexico for March 2022 including 1.625 MMb/d of oil, according to the National Hydrocarbon Commission. LATIN AMERICA AND THE CARIBBEAN Mexico — Mexico’s preliminary production figures for Mar. 2022 included: oil (1.625 MMb/d), condensate (0.209 MMb/d) and natural […]
Trinidad’s PM Issues Statement on the Status of Interception by the State
(Office of the PM of Trinidad and Tobago, 22.Apr.2022) — Trinidad and Tobago’s Prime Minister Keith Rowley issued a statement on the status of interception by the state. Madame Speaker, I have been authorized by the Cabinet to make the following statement. This statement concerns matters of national security, which […]
Colombia Judge Orders Suspension of Fracking Pilot Project
(Reuters, 21.Apr.2022) — A judge in the Colombian city of Barrancabermeja on Thursday suspended an environmental license granted to a hydraulic fracturing – or fracking – pilot project, on the grounds that local communities were not properly consulted. Colombia’s majority state-owned oil company Ecopetrol and partner U.S. oil major Exxon […]
CEMEX Supplies Low-carbon Vertua® Concrete for New San Diego State University Stadium
(CEMEX, 21.Apr.2022) — CEMEX USA is supporting the construction of San Diego State University‘s (SDSU) new Snapdragon Stadium, supplying the company’s low-carbon concrete, Vertua®, and other sustainable mixes for the new state-of-the-art, 35,000-seat, multi-use facility in San Diego, Calif. General contractor Clark Construction Group broke ground on the stadium in August 2020 with Pacific Southwest Structures, […]
Wood Mackenzie Foresees Slow Production Recovery in Venezuela
(Energy Analytics Institute, 21.Apr.2022) — Venezuela’s oil production is expected to gradually rise to as much as 1. 3 million barrels per day by 2028, according details revealed by Wood Mackenzie analyst Marcelo De Assis and Elen Simonyan in a recent report. Highlights from the report published on 21 April […]
Ecopetrol to Appeal Suspension of ‘Fracking’ Project in Puerto Wilches, Santander
(Infobae, 21.Apr.2022) — After the Barrancabermeja First Court notified Ecopetrol of the suspension of the KalĂ© and Platero fracking pilot projects, which were to be developed in Puerto Wilches, Santander, the company said it would appeal the ruling. According to the Colombian oil company, it has met all the requirements […]
NRGBriefs: BHP Barbados farm-out; YPF on Form 20-F; Chevron Venezuela
HOUSTON, TEXAS (Energy Analytics Institute, 21.Apr.2022, Words: 959) — Energy briefs including Vista Oil & Gas, S.A.B. de C.V. planning to have an extraordinary shareholders’ meeting on 26 April 2022; Argentina’s Energy Secretariat Dario MartĂnez participating in an official ceremony in Loma Campana to inaugurate the NĂ©stor Kirchner Gas Pipeline […]
US Oil Services Firms Join Push for Revamped Venezuela License
(Reuters, 21.Apr.2022) — Some U.S. oilfield firms whose Venezuelan operations were frozen by sanctions are joining an appeal to Washington for authorizations to restart oil drilling in the South American country, according to eight sources with knowledge of the talks. If they are allowed to resume work, Venezuela could quickly […]
UN Top Court Raps Colombia Over Sea Row with Nicaragua
(France24, 21.Apr.2022) — The United Nations‘ top court on Thursday ordered the Colombian navy to stop interfering in Nicaraguan waters, ruling on a longstanding legal battle over maritime borders. The International Court of Justice “finds that by interfering with fishing and marine research activities of Nicaraguan-flagged vessels … in Nicaragua’s […]
How the Energy Transition can Reduce the Risk of Future Shocks
(WoodMac, 21.Apr.2022) — The crisis caused by Russia’s invasion of Ukraine has highlighted the challenges for energy supplies as the world moves to tackle the threat of climate change. The uptake of low-carbon technologies can help address problems of energy security and affordability, and strengthen resilience to shocks in the […]
Petrobras Concludes Sale of E&P Assets in the Paraná Basin
(Petrobras, 20.Apr.2022) — Petrobras, following up on the release disclosed on 12/20/2021 and 12/30/2021, informs that it has today concluded the sale to the company Ubuntu Engenharia e Serviços Ltda of its total stake in blocks PAR-T-198 and PAR-T-218, located in the Paraná Basin. After compliance with all the precedent […]
Budweiser Launches The Energy Collective
(Budweiser, 20.Apr.2022) — Budweiser, an AB InBev global brand, today unveiled the global launch of The Energy Collective to help provide renewable electricity to bars, music venues and stadiums around the world. This launch follows and contributes to Budweiser parent company AB InBev’s recently announced ambition to achieve net zero across […]
EPE Publishes April 2022 Brazil’s Short-Term Fuel Market Outlook
(EPE, 20.Apr.2022) — Brazilian liquid fuel market continued its strong performance at the beginning of 2022 with an increase of 1.1% in January and February compared to the same period last year. This growth has been driven mainly by diesel and gasoline. EPE estimates that Brazilian liquid fuel market will […]
SBM Offshore Reveals Prosperity FPSO Module TS032 Lifting
(Energy Analytics Institute, 20.Apr.2022) — SBM Offshore revealed the first series of the topsides module lifting for the 220,000 barrel per day (b/d) capacity Prosperity floating production storage and offloading (FPSO) unit on the yard in Singapore. RELATED STORY: SBM Offshore Awarded Contracts for ExxonMobil FPSO ONE GUYANA RELATED STORY: […]
LNG Exports Continue to Lead Growth in US Natural Gas Exports
(EIA, 20.Apr.2022) — Since the United States began exporting more natural gas than it imports on an annual basis in 2017, natural gas exports both by pipeline and as liquefied natural gas (LNG) have grown significantly. In our Short-Term Energy Outlook (STEO), we forecast that LNG exports will continue to lead the growth […]
CNOOC Limited Successfully Listed on the A-Share Market
(CNOOC, 20.Apr.2022) — CNOOC Limited (SEHK: 00883, SSE: 600938) announced that the company was officially listed on the A-share market, which marked the company’s success in building a platform for domestic and international capital management. It will open a new chapter for the company to set sail on a promising voyage […]
Mexican Lawmakers Pass Lithium Nationalization Plan
(AFP, 20.Apr.2022) — Mexican lawmakers on Tuesday approved a plan to nationalize the exploration and mining of lithium, a vital material in the production of batteries for electric cars, cellphones and other technology. The mining law reform submitted by President Andres Manuel Lopez Obrador puts the metal’s exploitation in the […]
Atlas Leaps Into Wind Power with Newest Customer Enel GeneraciĂłn Chile S.A.Â
(Atlas, 20.Apr.2022) — Atlas Renewable Energy marks a new milestone with the development of its first wind power project with a long-term power purchase agreement (PPA) with Enel GeneraciĂłn Chile S.A. for 1.3 GWh/year. The portfolio’s three wind projects total 417 MW throughout Chile, helping accelerate its clean energy transition. “Our […]
Braskem to Participate at RAPID + TCT 2022 Conference
(Braskem, 20.Apr.2022) — Braskem (B3: BRKM3, BRKM5, and BRKM6;NYSE: BAK; LATIBEX: XBRK) announces its upcoming presence at Rapid + TCT, North America’s largest Additive Manufacturing conference, being held at Huntington Place, in Detroit, Michigan from 17-19 May 2022. The RAPID + TCT 2022 conference brings together over 100 industry leaders focused on delivering leading-edge solutions to the […]
Day 1 of AAPG ICE Highlights: Staatsolie Executive Angéle Ramsaransing – Karg
(Energy Analytics Institute, 19.Apr.2022) — Highlights from Staatsolie Executive AngĂ©le Ramsaransing – Karg during her presentation in Cartagena, Colombia on day 1 of the AAPG International Conference & Exhibition (ICE) taking place between 19-22 April 2022. Comments from Staatsolie Executive AngĂ©le Ramsaransing – Karg — Staatsolie looks to maintain production […]
INOXCVA Awarded Contract for MiniLNG Terminal for Caribbean LNG in Antigua
(INOXCVA, 19.Apr.2022) — Indian multinational and a manufacturer of cryogenic equipment and solutions provider, INOXCVA has been awarded a contract by Caribbean LNG Inc. for Design, Engineering & Supply on a turnkey basis for a MiniLNG receiving and regasification terminal to be set up in Antigua, West Indies. Caribbean LNG […]
Press Conference Offered by Prime Minister of The Republic of the Congo
(Republic of Congo, 19.Apr.2022) — In the wake of successful meetings in London and Paris, including meetings in The Republic of the Congo’s capital Brazzaville, where His Excellency Prime Minister Anatole Collinet Makosso hosted Rwandan head-of-state Paul Kagame in Washington, DC. WHO: H. E. ANATOLE COLLINET MAKOSSO, Prime Minister, The Republic of the Congo WHAT: Press Conference. The […]
NRGBriefs: Argentina Extends Austral Basin Concession for Ten Years
(Energy Analytics Institute, 19.Apr.2022) — Energy briefs including Argentina’s government issuing Decree 195/2022 to extend a hydrocarbon exploitation concession in the offshore Austral Basin granted in 1994 and which was to expire in 2031 for 10 years; Forte Minerals Corp. obtaining eligibility with the Depository Trust Company “DTC” for its […]
Holcim US Transitions Illinois Facility to Low-Carbon Portland Limestone Cement
(Holcim, 19.Apr.2022) — Following its recent rebrand and continuing its commitment to building progress for people and the planet, Holcim US announced that its Lafarge Joppa cement plant, located in Grand Chain, Illinois, has transitioned to OneCem® Portland limestone cement (PLC) production. The announcement follows the successful transitions to the lower CO2-intensive product […]
Magna Gold Reveals Completion of Debt Settlement with PEAL de Mexico S.A. de C.V.
(Magna Gold, 19.Apr.2022) — Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) issued an aggregate of 1,660,132 common shares in the capital of the company at a deemed price of $0.76 per common share to PEAL de Mexico S.A. de C.V. in settlement of outstanding debt in the aggregate amount of US$1,000,000 (the “Debt […]
Day 1 of AAPG ICE Highlights: ANP Substitute Director Marina Abelha
(Energy Analytics Institute, 19.Apr.2022) — Highlights from ANP Brazil Substitute Director Marina Abelha during her presentation in Cartagena, Colombia on day 1 of the AAPG International Conference & Exhibition (ICE) taking place between 19-22 April 2022. Comments from ANP Substitute Director Marina Abelha — A completely diverse sector will emerge […]
Arrow Exploration Says RCE-2 Well Logs 80ft of Net Pay
(Arrow Exploration, 19.Apr.2022) — Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) announced a further update on the Rio Cravo Este-2 well (“RCE-2 well”) on the Tapir Block in the Llanos Basin of Colombia. The RCE-2 well was spud on 2 April 2022. The well is targeting a large, three-way fault-bounded […]
Day 1 of AAPG ICE: ANH Head Armando Zamora
(Energy Analytics Institute, 19.Apr.2022) — Highlights from ANH Colombia head Armando Zamora during his presentation in Cartagena, Colombia on day 1 of the AAPG International Conference & Exhibition (ICE) taking place between 19-22 April 2022. Comments from ANH Colombia head Armando Zamora: — Colombia’s 2040 plan (base case scenario) envisions […]
Guyana Eyes 800,000 B/d of Production by 2025: VP Bharrat Jagdeo Reiterates
(Energy Analytics Institute, 19.Apr.2022) — Guyana is still looking to produce 800,000 barrels per day by 2025, the country’s Vice President Bharrat Jagdeo told Bloomberg News. Brief excerpts from the interview follow: — “[We’re moving from discovery in 2015 to production of 800,000 barrels per day by 2025”: Jagdeo — […]
Petrobras Confirms Details Around Atapu Compensation
(Petrobras, 19.Apr.2022) — Petrobras, following up on the release disclosed on 13 April 2022, informs that, contractually, TotalEnergies EP Brasil Ltda. – TotalEnergies may make the updated payment for its 22.5% share in the compensation for Atapu until 28 April 2022. The Atapu block was acquired by the consortium composed […]
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Halliburton Announces 1Q:22 Results [PDF Download]
(Halliburton, 19.Apr.2022) — Halliburton Company (NYSE: HAL) announced net income of $263mn, or $0.29 per diluted share, for the first quarter of 2022. This compares to net income for the first quarter of 2021 of $170mn, or $0.19 per diluted share. Adjusted net income for the first quarter of 2022, […]
PHX Minerals Inc. Announces Acquisition in the Haynesville
(PHX Minerals, 19.Apr.2022) — PHX Minerals Inc. (NYSE: PHX) announced a mineral and royalty acquisition targeting the Haynesville play in East Texas and Louisiana. PHX has agreed to acquire approximately 506 net royalty acres for aggregate consideration of $5,100,000 in cash from a private seller subject to customary closing adjustments. The transaction will be funded with a combination […]
Atlanta Gas Light Reveals Expansion of LNG Facility in Cherokee County
(Atlanta Gas Light, 19.Apr.2022) — Atlanta Gas Light announced the expansion of its liquified natural gas (LNG) facility in Cherokee County. The project will double the facility’s capacity and will allow the company to stay ahead of projected natural gas demands in this fast-growing region for years to come. The project […]
Petrobras to Release 1Q:22 Report, Host Results Call
(Petrobras, 19.Apr.2022) — Petrobras will release its 1Q22 Production and Sales Report on 27 April 2022 and its 1Q22 Financial Performance Report on 5 May 2022, both after the markets close. On 6 May 2022 two webcasts will be held, the first in Portuguese and the second in English, to […]
NRGBriefs: Mexico Approves Mining Reform; Argentine Inflation Around 6.7%
(Energy Analytics Institute, 18.Apr.2022) — Energy briefs including Mexico’s Chamber of Deputies approving the Mining Law reform, which reserves exploration, exploitation and use of lithium to the state; Argentina’s inflation reaching 6.7% in March 2022, according to economists; power outages impacting citizens in Valencia, Venezuela in Carabobo state; and more. […]
PetroChina Continues with Positive Momentum in 1Q:22
(PetroChina, 29.Apr.2022) — PetroChina Company Limited (HKSE: 00857; NYSE: PTR; SSE: 601857) announced that in the first quarter of 2022, the company placed stable development as top priority and achieved a steady increase in its operating results while maintaining smooth and efficient operation in its oil and gas industrial chains. […]
Oil Gains as Libya Shuts Its Largest Oil Field Amid Protests
(Bloomberg, 18.Apr.2022) — Oil rose as the shutdown of Libya’s biggest oil field strains an already under-supplied market, overshadowing signals that China’s drastic pandemic lockdowns are weighing on economic growth. Brent crude futures settled above $113 a barrel for the first time since late March while West Texas Intermediate oil […]
Luminex Acquires the Chalapo Concessions from Codelco in Ecuador
(Luminex Resources, 18.Apr.2022) — Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) signed a binding agreement with CorporaciĂłn Nacional del Cobre de Chile (Codelco) to acquire its 100% owned Chalapo concessions (the “Project”) in the Loja province of Ecuador for $60,000 of consideration and a 1.0% NSR. 0.5% of the NSR can be purchased by Luminex for $5mn before the year […]
Hunt Oil Co. of Peru Announces Consent Solicitation for Its 6.375% Notes
(Hunt Oil, 18.Apr.2022) — Hunt Oil Company of Peru L.L.C., Sucursal del PerĂş (HOCP) commenced a consent solicitation with respect to its 6.375% Trust Enhanced Senior Notes due 2028 (CUSIP Nos.: Rule 144A: 445640 AB1, Regulation S: P5300P AB9), (ISINs: Rule 144A: US445640AB18, Regulation S: USP5300PAB96). The Notes were originally […]
Encore Energy Provides Update on Rosita Uranium Plant
(encore, 18.Apr.2022) — enCore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) announced the refurbishment of its 100% owned Rosita In-Situ Recovery (ISR) Uranium Processing Plant is presently 90% complete with an expected completion date in May 2022. The plant modernization and refurbishment is essential to the company goal of becoming the next producer […]
Petrobras Starts Binding Phase of E&P Assets in the Gulf of Mexico
(Petrobras, 18.Apr.2022) — Petrobras, following up on the release disclosed on 16 February 2022, informs it started the binding phase regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which […]
Santos Reveals Pikka FID and Net-zero Project Plans
(Santos, 17.Apr.2022) — Santos Ltd., as operator of the Pikka Unit joint venture, today announced a final investment decision (FID) has been taken to proceed with the US$2.6bn gross (US$1.3bn Santos-share) Pikka Phase 1 oil project located on the North Slope of Alaska. Pikka Phase 1 is expected to produce […]
Protest Forces Libya’s National Oil Firm to Close Al-Fil Field
(Al Jazeera, 17.Apr.2022) — Libya’s National Oil Corporation (NOC) has announced the suspension of production at a major oil field in the country’s south, declaring a “force majeure” due to a protest at the site. Located some 750km (466 miles) southwest of Tripoli, the Al-Fil field is jointly managed by […]
Guzmán Says YPF’s Recuperation “Was an Act of Sovereignty”
(Energy Analytics Institute, 16.Apr.2022) — The recovery of Argentina’s state oil giant YPF some 10 years ago was an act of sovereignty that changed the dynamics of the sector and made the Vaca Muerta formation relevant, according to Argentina’s Economic Minister MartĂn Maximiliano Guzmán. The most relevant transformation was the notable increase […]
Pemex Says Fire under Control at Salina Cruz Refinery
(Reuters, 16.Apr.2022) — Mexican state oil company Pemex said on Saturday that it had brought under control a fire at its Salina Cruz refinery in the southern Oaxaca state without any injuries to personnel. The fire, which started on Friday, had engulfed a gasoline storage tank, sending a dense plume […]