ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

NRGBriefs: TechnipFMC Updates on Mero 1 Project Activities

(Energy Analytics Institute, 8.Apr.2022) — Energy briefs including TechnipFMC saying its spoolbase at Açu Port, Rio de Janeiro has carried out its first rigid pipes spooling operation, as part of the Mero 1 project (FPSO Guanabara), located in the Mero field, Santos Basin offshore Brazil; Silver Viper Minerals Corp. (TSXV: VIPR) […]

Latin America Inflation Shocks Raise Prospect of More Rate Hikes

(Bloomberg, 8.Apr.2022) — Latin America’s central bankers are facing renewed pressure to extend aggressive interest-rate hikes after consumer prices stormed past estimates across the region, driven by soaring costs of raw materials. March’s inflation blew past even the most pessimistic forecasts in Brazil and Chile, according to official numbers released […]

Argentina Gov’t Says Bolivia Gas Deal to Save $769mn, Replace LNG Imports

(Reuters, 8.Apr.2022) — Argentina’s new deal with Bolivia to up natural gas imports will bring savings of $769 million in foreign-exchange reserves and replace 14 vessels of increasingly expensive liquefied natural gas (LNG), Energy Secretary Dario Martinez said on Friday. Argentine President Alberto Fernandez and his Bolivian counterpart Luis Arce […]

Atlantic LNG Records 4500th LNG Cargo

(Atlantic LNG, 8.Apr.2022) — Almost 23 years after delivering its first cargo, LNG production company Atlantic completed loading its 4500th cargo on 8 Apr. 2022 onto the vessel Cool Discoverer at the #2 Jetty at its Point Fortin Facility. Atlantic Chief Executive Officer Ron Adams praised the achievement as testimony […]

Woodside Investors to Benefit from $40bn Merger with BHP Arm

(Reuters, 8.Apr.2022) — Australian gas producer Woodside Petroleum Ltd‘s agreed merger with BHP Group‘s petroleum arm is in the best interest of its shareholders, an independent expert said, valuing the combined group at around $40 billion. Global miner BHP agreed to hive off its petroleum business to Woodside last year […]

Nucor to Build New Rebar Micro Mill in North Carolina

(Nucor, 7.Apr.2022) — Nucor Corporation (NYSE: NUE) will build a new rebar micro mill in Lexington, North Carolina, which is located in Davidson County. This will be Nucor’s third rebar micro mill, joining existing Nucor micro mills in Missouri and Florida. The Nucor Steel Lexington mill is expected to cost approximately $350mn and have an annual capacity of […]

Black Employees Sue Huntsman International for Racial Discrimination at Chemical Plant

(Arthur Kim Law Firm, 7.Apr.2022) — Two black employees have filed a lawsuit against Huntsman International for racial discrimination at the company’s plant in Los Angeles. The former employees allege that increasing hostility toward black employees led to a segregated work environment and the destruction of their careers. The employees, Reggie Williams and Ronda […]

NRGBriefs: Petrobras Releases Climate Change Supplement [PDF Download]

(Energy Analytics Institute, 7.Apr.2022) — Energy briefs including Petrobras releasing its Climate Change Supplement as part of its dialogue with its stakeholders; Petrobras reaffirming “its stake in Braskem is part of the portfolio of assets for sale by the company, as disclosed in the Strategic Plan 2022-2026;” Occidental releases conference […]

Americans Will Need More Than an Increased Release of Oil Reserves to Tackle Energy Crisis

(FN Media Group, 6.Apr.2022) — In response to rising gas prices, the Biden administration has announced it will release 1 million barrels of oil per day from reserves. At its core, the government’s plan is to increase domestic production, starting with 1 million barrels per day this year, and nearly 700,000 barrels per […]

Ecopetrol Reduced Carbon Emissions by Over 490,000 Tons Over Two Years

(Ecopetrol, 6.Apr.2022) — In line with the goal of achieving net-zero carbon emissions within scopes 1 and 2 by 2050, as announced a year ago, the Ecopetrol Group reported that it reduced its carbon emissions by 493,441 tons between 2020 and 2021, which is equivalent to restoring an area of […]

Trinidad Reports Sequential Rises in Gas and LNG Production

(Energy Analytics Institute, 6.Apr.2022) — In January 2022, Trinidad and Tobago reported sequential rises in production of natural gas as well as liquefied natural gas from its four-train 14.8 million ton per year capacity Atlantic LNG liquefaction complex, the largest in the Latin America and Caribbean region. Gas production reached […]

Lekoil Nigeria Secures Court Injunction Against Lekoil Ltd and Savannah Energy Investments

(Lekoil Nigeria Limited, 6.Apr.2022) — Following the announcement of 28 February 2022 by Lekoil Limited that it had entered into an agreement with Savannah Energy Investments Limited, a subsidiary of Savannah Energy PLC, Lekoil Nigeria Limited, joined by a number of third-parties including Lekoil Oil & Gas Investments Limited, Mayfair Assets & Trust […]

NRGBriefs: Ecoanalitica Sees Venezuela’s Oil Rising Between 31%-91% in 2022

(Energy Analytics Institute, 6.Apr.2022) — Energy briefs including Caracas-based Econanalitica is forecasting Venezuela’s oil production and oil income will grow in 2022 vs 2021 under three different scenarios; Argentina’s Economic Minister Martín Guzmán meeting with the Argentine Ambassador in Bolivia Ariel Basteiro to discuss issues related to a bilateral agenda […]

Canacol Reveals 7.6 Tcf of Gross Mean Risked Prospective Gas Resources

(Canacol Energy, 6.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 Esperanza, VIM‐21, VIM‐5, ‎VIM-33, VIM-44 and SSJN-7 exploration blocks located in the Lower Magdalena Valley (“LMV”) basin, ‎and VMM-45, VMM-47, VMM-49, VMM-53 and […]

NRGBriefs: Mantaro Names New CEO, Petrobras Cash Tender Offers [PDF Download]

(Energy Analytics Institute, 5.Apr.2022) — Energy briefs including Mantaro Precious Metals Corp. (TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) naming Craig Hairfield to the position of CEO; Argentine agriculture sector worried about a lack of gasoil; Petrobras Global Finance B.V. (PGF), has commenced cash tender offers; the US yet to ease sanctions in […]

Shell Publishes Reports on Sustainability, Industry Associations and Gov’t Payments

(Shell, 5.Apr.2022) — Shell plc published its 2021 Sustainability Report, its 2022 Industry Associations Climate Review Update and its 2021 Payments to Governments Report. Shell has been formally reporting on sustainability-related performance for 25 years, with the aim of being transparent about activities that are important to investors, governments, and […]

CGG and Kent Announce Carbon Capture & Hydrogen Partnership

(CGG, 5.Apr.2022) — CGG, a global technology leader in geoscience, has announced a strategic partnership with Kent, a leading energy services engineering company, to work together on realizing decarbonisation opportunities through CCUS development and hydrogen production and supply. CGG and Kent will be providing customers in the energy and industrial […]

SBM Offshore Awarded Contracts for ExxonMobil FPSO ONE GUYANA

(SBM, 5.Apr.2022) — SBM Offshore announced that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the Yellowtail development project located in the Stabroek Block in Guyana. Under these contracts, SBM Offshore will construct, install and then lease and […]

W&T Offshore Reveals Bolt-on Acquisition of Producing Properties in the US GOM

(W&T Offshore, 5.Apr.2022) — W&T Offshore, Inc. (NYSE: WTI) has acquired the remaining working interests in the oil and gas producing properties purchased earlier this year from an undisclosed private seller. The assets are located in Federal shallow waters in the central region of the Gulf of Mexico at Ship […]

Saipem: Drilling Contracts in Middle East and West Africa worth Over $400mn

(Saipem, 5.Apr.2022) — Saipem has been awarded new contracts in offshore drilling in the Middle East and in West Africa for a total amount of over $400mn. Two contracts have been awarded in the Middle East for two high specification jack-up drilling units, consisting of drilling and workover operations for […]

About 650,000 B/D of Russian Oil to be ‘Swapped’

(WoodMac, 5.Apr.2022) — About 650,000 barrels per day (b/d) of Russian crude oil are to be relocated from advanced economies, and the solution could be ‘crude swapping’, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). Following US sanctions on Russian crude oil, European companies have also begun ‘self-sanctioning’ with up to […]

Cuba Struggles to Buy Fuel as Imports from Venezuela Dwindle -Data

(Reuters, 5.Apr.2022) — Cuba is struggling to cover a fuel deficit as imports from Venezuela and other countries remain below historical levels and global prices boosted by Russia’s invasion of Ukraine make purchases almost unaffordable, according to analysts and data. The Caribbean country, which is dependent on fuel imports mostly […]

Europe
Spain

Orvana Announces Restart of Production at Orovalle, Spain [PDF Download]

(Orvana Minerals, 4.Apr.2022) — Orvana Minerals Corp. (TSX: ORV) has restarted operations and production at its Orovalle Operation in Spain. The nationwide transport strike that started on 14 March 2022 was suspended on Saturday, 2 April 2022. Supply chains are being progressively reactivated, after three weeks of disruption due to the nationwide strike. The Company […]

NRGBriefs: Exxon, Hess, and CNOOC FID Yellowtail development

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 4.Apr.2022) — Energy briefs including ExxonMobil, Hess and CNOOC taking a final investment decision (FID) for their fourth development offshore Guyana called Yellowtail, cos.’ biggest yet w/ gross production capacity of 250,000 b/d starting in 2025; and the King Abdullah Petroleum Studies and […]

Excelerate Energy Launches IPO

(Excelerate, 4.Apr.2022) — Excelerate Energy, Inc. launched the roadshow for its initial public offering (IPO) of 16,000,000 shares of its Class A common stock. The initial public offering price is expected to be between $21.00 and $24.00 per share. The company also intends to grant the underwriters a 30-day option to purchase up to […]

Hess sanctions Yellowtail development offshore Guyana

HOUSTON, TEXAS (Hess, 4.Apr.2022) — Hess Corporation has made a final investment decision to proceed with development of Yellowtail offshore Guyana after receiving government and regulatory approvals. Yellowtail, the fourth oil development and the largest on the Stabroek Block, is expected to produce approximately 250,000 gross barrels of oil per […]

ExxonMobil Makes FID on Fourth Guyana Offshore Project Yellowtail

(ExxonMobil, 4.Apr.2022) — ExxonMobil has made a final investment decision for the Yellowtail development offshore Guyana after receiving government and regulatory approvals. The company’s fourth, and largest, project in the Stabroek Block is expected to produce approximately 250,000 barrels of oil per day starting in 2025. “Yellowtail’s development further demonstrates […]

Sempra and KOGAS Ink MOU Related to New Opportunities for Energy Transition

(Sempra, 4.Apr.2022) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), and Korea Gas Corporation (KOGAS) announced the companies have entered into a memorandum of understanding (MOU) to explore opportunities to cooperate in the global energy transition to lower-carbon and zero-carbon fuels. The MOU contemplates the companies’ joint collaboration around project […]

Petrobras on Divestment of the Marlim Cluster

(Petrobras, 4.Apr.2022) — Petrobras, following up on the release disclosed on 12/14/2020, informs that its Executive Board has approved the end of the competitive process, which was in the non-binding phase, for the sale of 50% of its stake in the Marlim, Voador, Marlim Leste and Marlim Sul concessions, jointly […]

Sempra Inks Heads of Agreement for Cameron LNG Phase 2

(Sempra, 4.Apr.2022) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), entered into a Heads of Agreement (HOA) with affiliates of TotalEnergies, Mitsui & Co. and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK), for the development of the Cameron LNG Phase […]

Petrobras on Letters from the Ministry of Mines and Energy

(Petrobras, 4.Apr.2022) — Petrobras has received two official letters from the Ministry of Mines and Energy confirming the withdrawal of Mr. Luiz Rodolfo Landim from the election to the company’s Board of Directors (BD) and to be the chairman of the BD, and of Mr. Adriano José Pires Rodrigues from […]

Arrow Exploration Spuds RCE-2 Well in Colombia’s Tapir Block

(Arrow Exploration, 4.Apr.2022) — Arrow Exploration Corp. (AIM: AXL ; TSXV: AXL) announced that the contracted Top Drilling Company rig has spud the Rio Cravo Este-2 (“RCE-2”) well on the Tapir Block in the Llanos Basin of Colombia. The company also shared an update on its 2022 corporate outlook. Marshall […]

Borr Drilling on New Contracts and Extensions for Jack-up Drilling Rigs

(Borr Drilling, 4.Apr.2022) — Borr Drilling Limited (NYSE and OSE: “BORR”) has been awarded new contracts and extensions for 5 of its premium jack-up drilling rigs. These awards increase the company’s backlog by approximately 2,530 days, excluding optional periods. The premium jack-up drilling rig “Gunnlod” has secured a contract with […]

Saudi Arabia Positioned to Produce Green and Blue Hydrogen at Competitive Rates

(KAPSARC, 4.Apr.2022) — According to a new study on “The Economics and Resource Potential of Hydrogen Production in Saudi Arabia” by the King Abdullah Petroleum Studies and Research Center (KAPSARC), Saudi Arabia’s vast renewable energy potential and natural gas reserves will support it in producing some of the cheapest green […]

Yellowtail Offshore Guyana Development Project Approved

(DPI, 1.Apr.2022) — The Government of Guyana and Esso Exploration and Production Guyana Limited (EEPGL) earlier today signed the Petroleum Production License (PPL) for the Yellowtail offshore development in the Stabroek Block Offshore Guyana. The Yellowtail project approval was a result of extensive reviews done by local and international experts. Prior to […]

Mainstream Renewable Inks Deal for 100 MW Solar Project in Colombia

(Mainstream Renewable, 1.Apr.2022) — Mainstream Renewable Power, a renewable energy company, has commercialised its first development in Colombia by signing a deal to supply 180 Gigawatt hours of clean energy each year in a private power purchase agreement (PPA). Mainstream will build the 100 MW Andromeda solar PV plant, located in Toluviejo, Colombia, to supply the electricity to Air-e, a Colombian energy distribution […]

Trinidad’s Energy has Bright Future: Young

(Trinidad and Tobago’s Newsday, 1.Apr.2022) — Energy Minister Stuart Young said Trinidad and Tobago has a key role in the world’s energy landscape, even as he continued to seek foreign investment in TT’s oil and gas sectors, he told Thursday’s post-Cabinet briefing at the Diplomatic Centre, St Ann’s. He recalled […]

Petrobras on New Pre-Salt Find in the Alto de Cabo Frio Central Block

(Petrobras, 1.Apr.2022) — Petrobras discovered a new oil accumulation in the pre-salt in the southern portion of the Campos Basin, in a wildcat well in the Alto de Cabo Frio Central block. The well 1-BRSA-1383A-RJS (Alto de Cabo Frio Central Noroeste) is located 230 km from the city of Rio […]

NRGBriefs: US-Venezuela Political Relationship; Repsol’s Sararenda-X3D Well

(Energy Analytics Institute, 1.Apr.2022) — Energy briefs including Sempra naming Glen Donovan as the co.’s new Investor Relations VP; and NPR speaking with author and journalist William Neuman about the tangled relationship between the US and Venezuela, and America’s re-assessment based on the new global oil dynamic. NORTH AMERICA US […]

Exxon Mobil gets Guyana’s Approval for Fourth Offshore Oil Project

(Reuters, 1.Apr.2022) — Exxon Mobil Corp (XOM.N) on Friday received approval to begin work on its fourth offshore oil project in Guyana from the South American country’s Environmental Protection Agency. The permit will allow Exxon to begin construction and operation of its Yellowtail project, the latest of up to 10 expected to […]

Orvana CEO Optimistic About Taguas Project in Argentina

(Orvana Minerals, 31.Mar.2022) — Orvana Minerals Corp. (TSX: ORV) reported on infill and expansion drilling results for the company’s 100%-owned Taguas Project in San Juan, Argentina. As of 27 March 2022, 24 DDH holes totaling 3,845m have been drilled, of which 1946.5m (12 DDH) have analytical readings already. Work to date represents the first […]

Parex Looks to Unlock Colombian Assets [PDF Download]

(Energy Analytics Institute, 31.Mar.2022) — Parex Resources is focused on further unlocking its Colombian asset portfolio through technology, the company said 31 March 2022 in a corporate presentation on its website. Key highlights from the presentation include: — First-mover advantage: acreage to explore, secured rigs and long-lead items, and strengthened […]

NRGBriefs: Venezuela’s Oil Minister on Oil Market Stability and Supply

(Energy Analytics Institute, 31.Mar.2022) — Energy briefs including the US Energy Department saying it is ready to execute the president of the United States’ authorization of an immediate release of 1 million barrels per day for 6 months from the Strategic Petroleum Reserve; and Trinidad and Tobago NGL Limited (TTNGL) […]

Citgo Enters 2022 With Strong Momentum

(Citgo, 31.Mar.2022) — Citgo Petroleum Corporation reported its 2021 fourth quarter and year-end financial results. For the fourth quarter of 2021, Citgo generated net income of $21mn, EBITDA (1) of $236mn and adjusted EBITDA of $139mn, representing the strongest quarterly net income and EBITDA performance since the third quarter of 2019, prior to the start […]

EZ Blockchain Introduces Immersion Cooling Crypto Mining Container

(EZ Blockchain, 31.Mar.2022) — Although EZ Blockchain started as a provider of data center hosting solutions, it is now on a mission to solve the global waste energy problem by providing scalable solutions to the energy sector.The company aims to save the environment using sustainable energy alternatives without compromising on benefits for […]

TTNGL Reveals Gains for 2021

(TTNGL, 31.Mar.2022) — Trinidad and Tobago NGL Limited (TTNGL) reported total company profits amounted to $512.8mn in 2021 compared with $6.4mn in 2020. This improvement drove earnings per share up to $3.31 at the end of year, versus $0.04 for the prior year period. As a result, the final dividend […]

PetroPerú Selects Honeywell Forge Solution to Support Employee Training

(Honeywell, 31.Mar.2022) — Honeywell (Nasdaq: HON) announced that Petróleos del Perú S.A. (Petroperú), the largest hydrocarbon producer, refiner and distributor in Peru, has implemented Honeywell Forge Workforce Competency solutions to train its industrial workforce for safer and more efficient operations. Petroperú is investing in digital transformation as a key part of the refinery modernization […]

27th OPEC and non-OPEC Ministerial Meeting

(OPEC, 31.Mar.2022) — Following the conclusion of the 27th OPEC and non-OPEC Ministerial Meeting, held via videoconference on 31 March 2022, it was noted that continuing oil market fundamentals and the consensus on the outlook pointed to a well-balanced market, and that current volatility is not caused by fundamentals, but […]

TotalEnergies and Sempra Expand Alliance for the Development of LNG Exports, Renewables

(TotalEnergies, 31.Mar.2022) — TotalEnergies and Sempra are expanding their North American strategic alliance with the signing of two Memorandums of Understanding (MoU): one for the Vista Pacífico LNG export project in Mexico and the other for the co-development of several onshore and offshore renewables projects. The Vista Pacífico LNG project is planned to be […]

Petrobras on Rio De Janeiro Court of Justice Decision

(Petrobras, 31.Mar.2022) — Petrobras informs that the Court of Justice of Rio de Janeiro (TJ-RJ) decided, by majority vote, to grant the appeal of the company Paragon Offshore Nederland B.V., former supplier of rigs for oil and gas prospection. The estimated value of the lawsuit is R$ 1.9bn of which […]