(The Washington Post, 16.Apr.2022) — Mexico’s congress will decide on Sunday whether to give the government near-total control over the country’s electricity sector in what analysts consider one of the biggest threats to the country’s private sector in years, moving away from the production of clean energy, jeopardizing foreign investment […]
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.
Colombia’s President Iván Duque Touts Oil Production Potential
(Energy Analytics Institute, 14.Apr.2022) — Colombia’s President Iván Duque talked about Colombia’s oil production potential, coal production, and Colombia’s relationship with the US during a televised interview with Bloomberg during his trip to New York. Excerpts from his interview follow. Highlights — Colombia has a chance to sale more oil […]
Earthstone Closes Bighorn Acquisition as well as Debt and Equity Financings
(Earthstone Energy, 14.Apr.2022) — Earthstone Energy, Inc. (NYSE: ESTE) announced the closing of the acquisition of assets of privately held Bighorn Permian Resources, LLC in the Midland Basin. The company also announced the closing of a $550mn private offering of senior unsecured notes; a $280mn private placement of equity (the “PIPE”); and an amendment to […]
SSR Mining Announces Closing of Taiga Gold Acquisition
(SSR Mining, 14.Apr.2022) — SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) completed the previously announced plan of arrangement to acquire all of the issued and outstanding shares of Taiga Gold Corp. (CSE: TGC). With this transaction, SSR Mining has consolidated a 100% interest in the Fisher property contiguous to […]
NRGBriefs: Trinidad’s Gas Production in Jan. 2022 Down 4% Y-O-Y
(Energy Analytics Institute, 14.Apr.2022) — Energy briefs including Trinidad and Tobago’s natural gas production reaching 2,877 MMcf/d (2.877 Bcf/d) in Jan. 2022, down 4% vs Jan. 2021; Great Panther Mining Limited reporting production results from its two wholly-owned operating mines, Tucano in Brazil and Topia in Mexico; and more. LATIN AMERICA AND THE CARIBBEAN […]
Cuenca Gets its First Electric Vehicle Charging Station
(Energy Analytics Institute, 14.Apr.2022) — Ecuador inaugurated its first electric vehicle fast charging station in Cuenca, Azuay on 12 April 2022 with an initial investment of over $80,000. The deal is part of an inter-institutional cooperation agreement between the Centrosur Regional Electric Company and the University of Cuenca, Ecuador’s Ministry […]
Deep-South to Resume Trading on 19 April 2022
(Deep-South Resources, 14.Apr.2022) — Deep-South Resources Inc. (TSXV: DSM) announces further to a discussion with the TSX Venture Exchange concerning the documents related to the Zambian exploration licences acquisition announced on 7 April 2022, Deep-South expect to resume trading on Tuesday 19 April 2022. Deep-South has signed a definitive earn-in agreement […]
Open Letter to Joe Biden Regarding Venezuela
(Energy Analytics Institute, 14.Apr.2022) — Representatives of the Venezuelan private sector and civil society as well as US government representatives sent an open letter to President Joe Biden regarding the Venezuelan crisis, US policy toward Venezuela, and Venezuela’s humanitarian emergency, amongst other issues. What follows is the complete open letter […]
Petrobras Approves Election of José Mauro Ferreira Coelho as CEO
(Petrobras, 14.Apr.2022) — Petrobras, following up on the release disclosed on 12 April 2022, informs that its Board of Directors, in a meeting held today, elected JosĂ© Mauro Ferreira Coelho to the position of CEO of the company, for a one-year term. Below is an extract of the new executive’s […]
Ecuador Changes Name of MERNNR to Ministry of Energy and Mines
(Energy Analytics Institute, 14.Apr.2022) — Ecuador’s President Guillermo Lasso ordered the modification of the name of Ministry of Energy and Non-Renewable Natural Resources (MERNNR) to that of the Ministry of Energy and Mines. The name change went into effect with the issuance of Executive Decree 400 dated 14 April 2022 […]
Ecopetrol, Shell Pick up Six Blocks in Brazil Bid Round
(Energy Analytics Institute, 13.Apr.2022) — Ecopetrol, through its Brazilian affiliate Ecopetrol Ă“leo e Gás do Brasil, in partnership with Shell Brasil PetrĂłleo Ltda, picked up six blocks in the offshore Santos Basin in the Third Cycle of Permanent Offers offered by Brazil’s hydrocarbon regulator National Petroleum, Natural Gas and Biofuel […]
NRGBriefs: Argentina Inflation Likely to Exceed 6% in March 2022
(Energy Analytics Institute, 13.Apr.2022) — Energy briefs including economists in Argentina expecting inflation in Mar. 2022 to exceed 6%; and Energy Analytics Institute’s short takeaway on US sanctions on the Venezuelan gov’t and PDVSA only worsening living conditions for the majority of Venezuelan citizens. LATIN AMERICA AND THE CARIBBEAN Argentina […]
Petrobras Approves Dividends Payment
(Petrobras, 13.Apr.2022) — Petrobras, following up on release disclosed on 23 February 2022, informs that, in a meeting held today, the Annual General Meeting (AGM) approved the remuneration to shareholders relative to the Fiscal Year 2021 in the amount of R$ 7.773202 per outstanding share (common or preferred). This amount […]
China’s Oil Champion Prepares Western Retreat Over Sanctions Fear
(Reuters, 13.Apr.2022) — China’s top offshore oil and gas producer CNOOC Ltd. (0883.HK) is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long been strained […]
Exxon Starts Construction of Guyana Campus
(Energy Analytics Institute, 13.Apr.2022) — ExxonMobil continues to work closely with its local partners in Guyana to develop its new office campus in the small South American country. The oil giant has commenced construction of the steel superstructure for the project, which is expected to span 120,000 square feet. The […]
KBR Announces Settlement with Ichthys Power Plant Subcontractor
(KBR, 12.Apr.2022) — KBR (NYSE: KBR) announced that JKC Australia LNG Pty Ltd joint venture, in which KBR has a 30% ownership interest, and Kellogg Brown & Root Pty Ltd entered into a conditional settlement agreement to resolve outstanding claims and disputes between JKC and its power plant subcontractor, the consortium […]
Excelerate Energy Announces Pricing of IPO
(Excelerate Energy, 12.Apr.2022) — Excelerate Energy, Inc. announced the pricing of its initial public offering of 16,000,000 shares of its Class A common stock at a price to the public of $24.00 per share. The company also granted the underwriters a 30-day option to purchase up to an additional 2,400,000 […]
SEOGS 2022 Brochure Now Available
(Global Events Partners, 12.Apr.2022) — The main brochure for the 2nd edition of the Suriname Energy, Oil & Gas Summit and Exhibition is available now! “If you are still deciding whether or not your company should be participating in SEOGS 2022 then download the brochure to read the welcome letter […]
NRGBriefs: Trinidad’s fuel subsidy; Citgo Giusti departure; “almost out of the Faja”
(Energy Analytics Institute, 12.Apr.2022) — Energy briefs including Trinidad and Tobago’s Finance Minister Colm Imbert commented 12 Apr. 2022 on Twitter about the twin-island country’s fuel subsidy; NewGold announcing plans to release its 1Q:22 financial results; Citgo Petroleum confirming the departure of Luis Giusti Lugo from its Board of Directors; […]
Noble Corp. and Maersk Drilling Update on the Merger Control Process
(Noble Corp. 12.Apr.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 (the “Transaction”). At this point in time, […]
Biden’s Team is Divided Over New Talks About Oil with Maduro in Venezuela
(Miami Herald, 12.Apr.2022) — Divisions within the Biden administration over whether to continue talks with President Nicolás Maduro in Venezuela have deepened since a senior U.S. delegation met with him in Caracas last month, U.S. and Venezuelan opposition sources familiar with the discussions told McClatchy and the Miami Herald this […]
Goldmining Starts Exploratory Drilling at its La Mina Project in Colombia
(GoldMining, 12.Apr.2022) — GoldMining Inc. (TSX: GOLD) (NYSE: GLDG) commenced a program of exploration drilling on the La Garrucha target, located less than one kilometer to the east and immediately adjacent to the existing mineral resources on the company’s 100% owned La Mina project, located in Antioquia, Colombia. Alastair Still, CEO of […]
HIF Global Secures $260mn in Equity Investments
(HIF Global, 6.Apr.2022) — HIF Global, involved in eFuels development, secured approximately $260mn in equity investments to fund the global expansion of its decarbonization business. The capital will be used for the development of carbon-neutral eFuels projects in the United States, Chile and Australia that will supply ships, cars, trucks, and airplanes with renewable energy. The equity […]
Poland: TotalEnergies and KGHM Join Forces to Develop Offshore Wind Power
(TotalEnergies, 12.Apr.2022) — TotalEnergies and KGHM signed a partnership to participate on a 50/50 basis in the Polish government tender for the development of offshore wind projects. The government has launched a new auction scheme covering 11 areas in the Polish Baltic Sea, representing an expected total capacity of over 10 […]
Russia Emerges as World’s Most Sanctioned Country
(Energy Analytics Institute, 12.Apr.2022) — Russia is now the most sanctioned country in the world, after recently surpassing Iran, according to details released by Caracas-based consultancy Ecoanalitica. “Russia is the most sanctioned nation in the world, with much of its banking system frozen or kicked out of the global financial […]
Aris Gold Completes Soto Norte JV Investment
(Aris Gold, 12.Apr.2022) — Aris Gold Corporation (TSX: ARIS) (OTCQX: ALLXF) announces that, further to the company’s news release of 21 March 2022, it has closed the acquisition of a 20% joint venture interest in the Soto Norte gold project in Colombia, with the option to acquire a further 30% interest. Aris Gold has […]
Using Homegrown Biofuels to Address Putin’s Price Hike at the Pump
(The White House, 12.Apr.2022) — The President is committed to doing everything he can to address the pain Americans are feeling at the pump as a result of Putin’s Price Hike. The Administration’s strategy to spur the development of homegrown biofuels is critical to expanding Americans’ options for affordable fuel […]
Mexico’s President Reversing Energy Reforms, Hurting Oil Production
(Houston Public Media, 12.Apr.2022) — President AndrĂ©s Manuel LĂłpez Obrador is using administrative measures to undermine the free-market reforms enacted in 2013. As a result, Mexican oil production is now more than 1 million barrels short of where the U.S. Energy Information Administration projected it would be if the reforms […]
Acquisition of Industrial-scale Green Hydrogen Production in Trinidad
(NewGen Energy, 12.Apr.2022) — Hydrogène de France (HDF Energy) – mnemonic code: HDF – has acquired a 70% majority stake in the NewGen project in Trinidad, led by the local company Kenesjay Green Ltd (KGL). KGL, the project developer, will retain the remaining 30% of the share capital of NewGen, […]
Russia-Ukraine War Could Slow Global Economic Growth to 2.5% This YearÂ
(WoodMac, 12.Apr.2022) — Global economic growth could slow to 2.5% year-on-year in 2022 and 0.7% in 2023 due to the Russia-Ukraine war, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). The company has produced a downside scenario for the global economy assuming large spill-over effects from the Russia-Ukraine conflict through transmission […]
Murphy Achieves First Oil at King’s Quay FPS in Deepwater US GOM
(Murphy Oil, 12.Apr.2022) — Murphy Oil Corporation (NYSE: MUR) achieved first oil from the Khaleesi, Mormont and Samurai field development project in the deepwater Gulf of Mexico, as production has begun flowing through the Murphy-operated King’s Quay floating production system (King’s Quay FPS). The project is comprised of the Khaleesi […]
Crowley and Shell Aim to Advance Decarbonization in Maritime
(Crowley, 12.Apr.2022) — Continuing to demonstrate their commitment to decarbonization of the maritime sector, Crowley and Shell Trading (US) Company entered into a memorandum of understanding (MOU) with the aim of supporting alternative energy solutions for the future of shoreside and terminal operations. The MOU follows an ongoing joint project that […]
CGG Expands High-Performance Computing Capacity with New UK HPC Hub
(CGG, 12.Apr.2022) — To support continued differentiation in its core business and accelerate the development of its new activities, CGG is significantly expanding its high-performance computing (HPC) capacity and associated service offerings. The company recently signed a lease to build a new European HPC hub in Southeast England that will […]
ExxonMobil Introduces New Exceed™ S Performance Polyethylene
(ExxonMobil, 11.Apr.2022) — ExxonMobil introduced today its new Exceed™ S performance polyethylene (PE) resins, which deliver industry-leading combinations of stiffness and toughness while being easy to process. Utilizing the company’s latest innovations in polymer science, the new PE platform provides opportunities to reduce the complexity of film formulations and designs while […]
Dow Takes Minority Stake in Consortium Constructing LNG Import Terminal in Germany
(Dow Inc., 11.Apr.2022) — Dow Inc. (NYSE: DOW) signed a definitive agreement to take a minority stake in the Hanseatic Energy Hub GmbH (HEH) and is working with HEH’s current members to advance Germany’s capabilities to import supplies of liquefied natural gas (LNG), bio-liquefied natural gas and synthetic natural gas through the construction […]
The World Bank: LAC Returns to Pre-Pandemic “Unsatisfactory Growth Rates”
(Energy Analytics Institute, 11.Apr.2022) — This week The World Bank published its 62-page semiannual report for Latin America and the Caribbean (April 2022) dubbed “Consolidating the Recovery: Seizing Green Growth Opportunities.” Guyana’s nascent petroleum sector is expected to help the country’s gross domestic product (GDP) expand by 47.9% in 2022, […]
Citgo Chairman Luis Giusti (Jr.) Ousted After Less Than a Year in Job
(Bloomberg, 11.Apr.2022) — Citgo Petroleum Corp., the U.S. oil refiner controlled by the Venezuelan opposition, ousted chairman Luis Giusti Lugo less than a year after appointing him. Giusti, a 24-year veteran of the oil industry, was dismissed Friday by the board of parent company Citgo Holding Inc., according to people familiar […]
Colombia Launches Green Taxonomy at NYSE
(Energy Analytics Institute, 11.Apr.2022) — Colombian officials including President Iván Duque, Mines and Energy Minister Diego Mesa Puyo, and Finance and Public Credit Minister JosĂ© Manuel Restrepo Abondano visited the New York Stock Exchange (NYSE) to launch the South American country’s green taxonomy, an instrument designed to mobilize resources from […]
YPFB Initiates Commercialization of Gasoline Plus in Oruro Department
(Energy Analytics Institute, 11.Apr.2022) — Bolivia’s state oil entity YPFB initiated the commercialization of gasoline plus in Oruro at the “Morela” and “QV2” service stations. “We currently have 20 urban and 15 provincial service stations in the department of Oruro, the 35 pumps will gradually cover the population’s need with […]
Guyana is Far from its Dream of Becoming a Rich Economy
(Energy Analytics Institute, Special Contributor Millan Arcia Einstein, 11.Apr.2022) — Exxon and the Guyana government claim total hydrocarbon “resources of around 10,000 million barrels of equivalent oil”. Important to understand that these are recoverable resources in equivalent oil barrels, and not commercially recoverable crude oil reserves. Establishing the difference between […]
Petrobras on Cumulative Vote Process for AGM
(Petrobras, 11.Apr.2022) — Petrobras, in compliance with article 30, item XXXIV, of CVM Instruction 480/09, informs that it received from shareholders who jointly hold more than 5% (five percent) of its common shares, the request to adopt the cumulative vote system in the election of members of Board of Directors […]
Petrobras Reveals New E&P Teaser in the Sergipe-Alagoas Basin
(Petrobras, 11.Apr.2022) — Petrobras, following up on the release disclosed on 7 August 2020, informs that the process of selling the totality of its interest in the Tartaruga Field, located in shallow waters of the Sergipe-Alagoas Basin, State of Sergipe, was not concluded. The process was in the binding phase. […]
Launch of Cameron LNG Expansion to Increase Liquefied Natural Gas Production
(TotalEnergies, 11.Apr.2022) — TotalEnergies has signed a Heads of Agreement (HOA) with Sempra Infrastructure, Mitsui & Co., Ltd. and Japan LNG Investment – a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK) – for the expansion of Cameron LNG, a liquefied natural gas (LNG) production and […]
GeoPark Announces 1Q:22 Operational Update
(GeoPark, 11.Apr.2022) — GeoPark Limited announced its operational update for the three-month period ended March 31, 2022 (“1Q2022”). All figures are expressed in US Dollars. Growth comparisons refer to the same period of the prior year, except when otherwise specified. Highlights Accelerating Production Growth Consolidated oil and gas production of […]
Argentine Oil Union Wants Back Jobs Lost in Pandemic Amid Rise in Business
(Reuters, 11.Apr.2022) — Argentina’s largest oil union called on the industry to restore jobs lost during the COVID-19 pandemic following a significant increase in production, the union’s leader told Reuters. The South American nation is trying to increase its production to reverse its long-suffering energy deficit, which is hitting its […]
Canacol Energy’s Eyes Pola 1 Exploration Well in 3Q:22
(Canacol, 11.Apr.2022) — Canacol Energy Ltd. (TSX: CNE; OTCQX: CNNEF; BVC: ‎CNEC) reported on the conventional natural gas prospective resources (resources other than reserves) ‎for its Pola-1 prospect on the VMM-45 exploration block located in the Middle Magdalena Valley (“MMV”) basin of Colombia (the “Audited Area”). Boury Global Energy Consultants […]
NRGBriefs: Mexicans Back Recall Vote; Neuquén Officials on Houston Roadshow
(Energy Analytics Institute, 11.Apr.2022) — Energy briefs including approximately 90% of Mexican citizens voting this past weekend to back a recall election that would allow President AndrĂ©s Manuel LĂłpez Obrador to stay in office; Argentina is looking to significantly boost oil and gas production by 2030, Argentina’s governor of NeuquĂ©n […]
Mexico President LĂłpez Obrador Wins Recall Referendum
(The Guardian, 10.Apr.2022) — Nine in 10 Mexicans voting in an unprecedented recall election engineered by President AndrĂ©s Manuel LĂłpez Obrador have backed him to stay in office, underlining his domination of a polarised political agenda. Critics and supporters had viewed his victory as a foregone conclusion in a ballot […]
NRGBriefs: Argentina Grants Chevron El Trapial Este Concession
(Energy Analytics Institute, 9.Apr.2022) — Energy briefs including Argentina granting the El Trapial Este hydrocarbon concession to Chevron; and EP PetroEcuador reporting average production of 372,609 b/d in 2021. LATIN AMERICA AND THE CARIBBEAN Argentina — Argentina granted the El Trapial Este hydrocarbon concession to Chevron. The deal implies the […]
CNOOC Commences Production at Weizhou 12-8E Oilfield Development Project
(CNOOC, 8.Apr.2022) — CNOOC Limited (SEHK: 00883) announced that Weizhou 12-8E oilfield development project has commenced production. The Weizhou 12-8E oilfield development project is located in Beibu Gulf in the South China Sea, with average water depth of about 30 meters. In addition to fully utilizing the existing processing facilities of Weixinan oilfields, a total […]