ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

FMC Reports 4Q:20 Results In-Line With Guidance

(FMC, 9.Feb.2021) — FMC Corporation reported fourth quarter 2020 results that were in-line with the company’s updated outlook from 19 January 2021. Fourth quarter revenue was approximately $1.15bn, a decrease of 4% versus fourth quarter 2019. Excluding the impact of foreign currencies, sales grew 2% organically year over year. On […]

Ecopetrol On Decision Related To Lisama 158 Well

(Ecopetrol, 9.Feb.2021) — Ecopetrol S.A. has been notified of the decision issued by Colombia’s National Environmental Licensing Authority (ANLA), as per Resolution 290 of 9 February 2021, whereby a fine has been imposed on Ecopetrol S.A. in the amount of COP$ 3,863,918,267 for the oil seepage in the vicinity of […]

Total’s 4Q:20 Earnings Call Transcript

(Motley Fool, 9.Feb.2021) — Executives with France’s Total participated in the company’s fourth quarter 2020 earnings call on 9 February 2021. What follows is the transcript of the call. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Ladislas Paszkiewicz — Senior Vice President, Investor Relations Good morning or […]

Hess To Market Guyana Oil

(Reuters, 9.Feb.2021) — U.S. oil producer Hess Corp has been selected to market two Guyana crude oil shipments as the emerging oil power seeks a permanent partner to handle its share of a major offshore oil find, the country’s vice president said on Tuesday. The South American country has became […]

CGX Names Professor Mark Zoback To The BODs

(CGX, 8.Feb.2021) — CGX Energy Inc. has appointed Professor Mark D. Zoback to the Board of Directors of the Company and Ms. Jennifer Budlong as its Exploration Manager. The company’s Board of Directors unanimously voted to increase the number of Directors of the Board from five (5) to six (6) […]

Asia

Maersk Awarded One-well Drillship Contract In Korea

(Maersk, 8.Feb.2021) — Maersk Drilling has secured a contract from Korea National Oil Corporation (KNOC) for the drillship Maersk Viking to drill one exploration well in Block 6-1 offshore the Republic of Korea. The contract is expected to commence in June 2021, in direct continuation of the rig’s previous work […]

Ecopetrol Updates On Offer To Acquire ISA Stock

(Ecopetrol, 8.Feb.2021) — Ecopetrol S.A,, pursuant to the provisions set forth in Article 5.2.4.1.6 – Decree 2555/2010, does hereby confirm the information published in several media outlets that last 5 February 2021, received a written communication issued by the Ministry of Finance and Public Credit, whom, among other things, announced […]

ExxonMobil Exploits Divisions In South America

(People’s World, 8.Feb.2021) — Tensions are rising between neighboring Guyana and Venezuela over a piece of land that has been disputed since at least 1835. Both Guyana’s President Irfaan Ali and Venezuela’s President Nicolás Maduro have exchanged sharp words about the status of the Essequibo region, which both countries claim. Since 1990, the two […]

Petrobras On RLAM And REPAR Divestments

(Petrobras, 8.Feb.2021) — Petrobras concluded the final round of the binding phase of the sale process of the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in Bahia, in which Mubadala Capital presented the best final offer in an amount of $1.65bn. The signing of the purchase and sale […]

Argentina

YPF Sweetens $6.2 Bln Debt Deal Again After Offer Fails

(Reuters, 8.Feb.2021) — Argentine state energy giant YPF made a last-ditch improvement to its $6.2 billion debt restructuring offer to creditors late on Sunday and extended the deadline after the majority of bondholders knocked back an earlier proposal. The firm, which spearheads development of the South American nation’s huge Vaca […]

Ecuador’s Presidential Vote Heads To A Runoff

(New York Times, 7.Feb.2021) — Ecuadoreans are headed for a runoff presidential election following a vote Sunday in which a leftist economist drew the most votes, but not enough to secure an outright victory. The economist Andrés Arauz, outpolled a conservative rival, Guillermo Lasso, and an Indigenous environmental activist, Yaku […]

Petrobras Says Alignment To Int’l Prices Unchanged

(Petrobras, 7.Feb.2021) — Petrobras is clarifying a piece of news published on Friday afternoon, 5 February 2021, based on distorted statements released by the press. The maintenance of the periodicity for the measurement of the adherence between realization prices and international prices, adopted since June 2020 and confirmed in January […]

Europe

Circle K Loves Norway

(Alimentation Couche-Tard Inc., 7.Feb.2021) — Alimentation Couche-Tard Inc. and its global brand, Circle K, make it official: “Yes, Will Ferrell – Circle K loves Norway and we’re ready!” By being number one for EV charging offers in Norway – home to its premier global electric vehicle laboratory – Circle K […]

YPF’s Fourth Amendment To Exchange Offers

(YPF, 7.Feb.2021) — YPF Sociedad Anónima announced its decision to amend the terms and conditions of its amended and restated Exchange Offer and Consent Solicitation Memorandum dated 25 January 2021, as amended on 1 February (the “Exchange Offer and Consent Solicitation Memorandum“). Capitalized terms used herein and not otherwise defined […]

Petrobras Concludes Frade Field Divestment

(Petrobras, 5.Feb.2021) — Petrobras, following up on the release disclosed on 28 November 2019, informs that it has concluded today the sale of its 30% participation in the Frade field, located in the Campos Basin, north coast of the state of Rio de Janeiro, to PetroRio Jaguar Petróleo Ltda., a […]

Petrobras Begins Non-binding Phase For TBG, TSB

(Petrobras, 5.Feb.2021) — Petrobras, following up on the release disclosed on 23 December 2020, informs the beginning of the non-binding phase regarding the sale of its 51% stake in Transportadora Brasileira Gasoduto Bolivia-Brasil S.A. (TBG) and 25% stake in Transportadora Sulbrasileira de Gás S.A. (TSB). Potential buyers qualified for this […]

Petrobras Says Fuel Prices Aligned To Import Parity

(Petrobras, 5.Feb.2021) — Petrobras, regarding the news published in the media about fuel prices, clarifies that it practices prices aligned to the import parity. In the first half of 2020, given the significant increase in fuel price volatility, Petrobras decided to extend from quarterly to annual the limit period for […]

Petrobras Finalizes Sale Of Uruguayan Assets

(Petrobras, 5.Feb.2021) — Petrobras, following up on the release disclosed on 2 October 2020, informs that its indirect subsidiary Petrobras Uruguay Sociedad Anónima de Inversión (PUSAI), concluded today the sale of its entire stake in Petrobras Uruguay Distribución S.A. (PUDSA), in Uruguay, to Mauruguay S.A., an indirect wholly-owned subsidiary of […]

PetroEcuador Starts Work On Two SOTE Variants

(Energy Analytics Institute, 5.Feb.2021) — EP PetroEcuador has commenced preventive work to protect the integrity of the Trans-Ecuadorian Pipeline System (SOTE) with construction of two additional variants to the four already existing. The natural phenomenon of regressive and lateral erosion of the Quijos River (Alto Coca) and its tributaries is […]

Solaris To Start Trading On Toronto Stock Exchange

(Solaris Resources, 5.Feb.2021) — Solaris Resources Inc. announced its common shares have been approved for listing on the Toronto Stock Exchange (TSX) and will commence trading on the TSX at the opening of market on 9 February 2021. Concurrent with the TSX listing, the common shares of the company will […]

Bloomberg To Serve As UN Special Envoy For Climate

(Bloomberg Philanthropies, 5.Feb.2021) — Today, United Nations Secretary-General António Guterres announced the appointment of Michael R. Bloomberg as his Special Envoy for Climate Ambition and Solutions. The COP26 High Level Climate Action Champions, Gonzalo Muñoz and Nigel Topping, also named Mr. Bloomberg the first Global Ambassador for the Race to Zero […]

Bolsonaro To Discuss Diesel Price With Petrobras Head

(Reuters, 4.Feb.2021) — Brazilian President Jair Bolsonaro said he will meet on Friday with his Cabinet and the head of state-run oil company Petrobras to discuss diesel prices, a move that is not unprecedented under his administration, but could cause market jitters nonetheless. In a live video broadcast on Facebook […]

ANP Notifies Petrobras And BR Of Investigation

(Energy Analytics Institute, 4.Feb.2021) — Brazil’s National Agency of Petroleum, Natural Gas and Biofuels or ANP notified BR Distribuidora on 3 February 2021 and Petrobras on 4 February of an investigative process conducted by the agency regarding fuel produced in the Presidente Bernardes Refinery (RPBC) in Cubatão, São Paulo. ANP, […]

Asia
China

CNOOC Reveals 2021 Business Strategy

(CNOOC, 4.Feb.2021) — CNOOC Limited announced its business strategy and development plan for the year 2021. In the extremely challenging year of 2020, under the leadership of the Board of Directors, the company’s management, together with all staff, overcame the huge impact from low oil price and the pandemic of […]

Total Joins In On Zero Carbon Shipping

(Total, 4.Feb.2021) — Total joins today the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping as a strategic partner and accelerates its R&D program for carbon neutral shipping solutions in line with its commitment to work together with its key customers to get to Net Zero. Based in Copenhagen, the […]

Nigerian Court Issues Arrest Warrant ExxonMobil Head

(Reuters, 3.Feb.2021) — A federal court in Abuja has signed off on a warrant to arrest the head of oil major ExxonMobil in Nigeria to compel him to appear before anti-graft investigators, a statement for the Economic and Financial Crimes Commission (EFCC) said on Wednesday. The EFCC said it had […]

Lightsource bp Eyes Construction Of Project Lara

(Energy Analytics Institute, 3.Feb.2021) — Lightsource bp continues to advance two solar farm projects, collectively known as Project Lara, in Trinidad and Tobago and with a combined 112 MWac. The company aims to start construction of the Orange Grove Solar Project and the Brechin Castle Solar Project sometime in 2021, […]

Citgo Proposes Senior Secured Notes Offering

(Citgo, 3.Feb.2021) — Citgo Petroleum Corporation has commenced a private offering exempt from the registration requirements of the Securities Act of 1933, as amended, $650mn aggregate principal amount of senior secured notes due 2026. The notes offering is subject to market and other conditions, and there is no assurance that […]

Day 3: Energy Efficiency And Renewables Event Trinidad

(Energy Analytics Institute, 3.Feb.2021) — The Energy Efficiency and Renewables Conference 2021 hosted by the Energy Chamber of Trinidad and Tobago was broadcast virtually from 1-3 February 2021 from Trinidad. Keys details from Day 3 follow. DAY 3 SWECO’s Tanja Groth — Integrated policies maximize renewable usage by targeting infrastructure, […]

Fitch Rates Citgo’s Secured 2026 Notes ‘BB’/’RR1’

(Fitch, 3.Feb.2021) — Fitch Ratings has assigned a ‘BB’/’RR1’ to CITGO Petroleum Corporation’s (Opco) $650mn senior secured 2026 notes. Proceeds from the notes, along with cash on hand, will be used to repay CITGO Petroleum’s 6.25% secured notes due August 2022 and associated fees. The new notes will rank pari […]

Albemarle Prices Public Common Stock Offering

(Albemarle Corp., 3.Feb.2021) — Albemarle Corporation, a leader in the global specialty chemicals industry, today announced the pricing of a previously announced underwritten public offering of 8,496,733 shares of its common stock at a price to the public of $153/share. The gross proceeds from this offering are expected to be […]

Taiwan To Open Office In Guyana

(Energy Analytics Institute, 3.Feb.2021) — Taiwan announced plans to establish an office in emerging petro-state Guyana, according to details revealed by the US Embassy in Guyana. “Deepening ties between Guyana and Taiwan will advance their shared goals of prosperity and security,” the US Embassy announced 3 February 2021 in an […]

Braskem Launches First Int’l Shipment From Charleston

(Braskem 3.Feb.2021) — Braskem, the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, today announced the first international shipment of polypropylene from the Company’s new Global Export Hub in Charleston, S.C. Braskem’s new Global Export Hub facility provides packaging, warehousing and export shipping services […]

Vaca Muerta Now Producing At Record Levels

(Rystad, 3.Feb.2021) — The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory. The reserve’s oil output has not only rebounded to pre-pandemic levels but also reached a record high of 124,000 barrels per day (bpd) in December 2020, a […]

Citgo’s Going-Concern Value Approximately $5.78bn

(Energy Analytics Institute, 3.Feb.2021) — Houston-based refiner Citgo Petroleum’s going-concern value is approximately $5.78 billion, according to a recent analysis by Fitch Ratings. The value is based on estimated EBITDA of $1.16bn and an Enterprise Value multiple of 5.0x, Fitch announced 3 February 2021 in a Citgo update. ____________________ By […]

Day 2: Energy Efficiency And Renewables Event Trinidad

(Energy Analytics Institute, 2.Feb.2021) — The Energy Efficiency and Renewables Conference 2021 hosted by the Energy Chamber of Trinidad and Tobago was broadcast virtually from 1-3 February 2021 from Trinidad. Keys details from Day 2 follow. DAY 2 NewGen’s Philip Julien — NewGen is 100% locally owned, committed to the […]

Exxon Mobil’s CEO Darren Woods On 4Q:20 Results

(Seeking Alpha, 2.Feb.2021) — Exxon Mobil Corporation 4Q:20 earnings conference call from 2 February 2021. Company Participants Stephen Littleton – Vice President, Investor Relations and Secretary Darren Woods – Chairman and Chief Executive Officer Conference Call Participants Doug Terreson – Evercore ISI Neil Mehta – Goldman Sachs Doug Leggate – […]

Brazil’s Production Reaches 3.525 MMboe/d In Dec. 2020

(Energy Analytics Institute, 2.Feb.2021) — Brazil’s production of both crude oil and natural gas reached 3.525 million barrels of oil equivalent per day (MMboe/d) in December 2020, according to Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) Total production in December 2020 was comprised of 2.726 million barrels […]

Letter Of Support For YPF Exchange Offer For 2021

(YPF, 2.Feb.2021) — On 7 January 2021, YPF S.A. launched exchange offers in respect of all seven series of its notes (collectively, the “Exchange Offer”). The Exchange Offer was a highly ambitious effort by the company to extract concessions from its international creditors. The Ad Hoc YPF Bondholder Committee represented […]

ExxonMobil Reports 4Q:20 Results, Talks Forward Plans

(Exxon, 2.Feb.2021) — Exxon Mobil Corporation today announced an estimated fourth quarter 2020 loss of $20.1bn, or $4.70 per share assuming dilution. Fourth quarter capital and exploration expenditures were $4.8bn, bringing full-year spending to $21.4bn, $9.8bn lower than the prior year. Fourth Quarter and Full-Year 2020 Results — Fourth quarter […]

Argentina’s Escobar Terminal To Reopen

(S&P Global Platts, 1.Feb.2021) — A federal judge in Argentina has lifted a more than three-month suspension of the country’s only floating storage and regasification unit (FSRU) after the government warned of natural gas shortages if LNG imports were hindered. The FSRU, which is docked in Escobar, a district up […]

Day 1: Energy Efficiency And Renewables Event Trinidad

(Energy Analytics Institute, 1.Feb.2021) — The Energy Efficiency and Renewables Conference 2021 hosted by the Energy Chamber of Trinidad and Tobago was broadcast virtually from 1-3 February 2021 from Trinidad. Keys details from Day 1 follow. DAY 1 Comments From Trinidad And Tobago’s Minister Of Energy And Energy Industries Franklin […]

Petrobras Receives Proposals For Urucu Cluster

(Petrobras, 1.Feb.2021) — Petrobras, following up on the release disclosed on 7 December 2020, informs it has received binding proposals for the sale of its entire stake in a set of seven onshore production concessions, called Urucu Cluster, located in the Solimões Basin, in the state of Amazonas, and it […]

No Bids By Petrobras For Renting Of LNG Terminal

(Petrobras, 1.Feb.2021) — Petrobras, following up on the release disclosed on 1 October 2020, informs that the bidding process started on 3 August 2020 was ended, with no valid proposals, and that the company published, on today’s date, Bid Notice 002, aiming to determine a new deadline for the accreditation […]

Sempra On Fortune’s ‘Most Admired Companies’ List

(Sempra, 1.Feb.2021) — Sempra Energy has again been named one of the “World’s Most Admired Companies” for 2021 by Fortune Magazine. This marks the 11th year that the company has been included on the annual list, which recognizes global businesses with the strongest corporate reputations within their sectors and across industries. […]

Petrobras Chief Governance Officer Leaving In March

(Petrobras, 1.Feb.2021) — Petrobras informs that the Chief Governance and Compliance Officer, Marcelo Zenkner, has notified his intention to not renew his mandate, which will expire on 20 March 2021, for personal reasons: “I consider the mission of disseminating and generating engagement of the integrity culture at Petrobras duly fulfilled. […]

Petrobras Inks Deal To Divest Espírito Santo Assets

(Petrobras, 1.Feb.2021) — Petrobras, following up on the release disclosed on 5 August 2019, informs it has signed with the companies OP Energia Ltda. and DBO Energia S.A. a contract for the sale of the totality of its participations in the production fields of Peroá and Cangoá, and in the […]

bp’s Claire Fitzpatrick At Energy Efficiency Event 2021

(bp, 2.Feb.2021) — bp’s Trinidad and Tobago head Claire Fitzpatrick presented at the Energy Chamber’s Energy Efficiency and Renewables Conference 2021 in Port of Spain. Presentations at the conference came from virtual locations as well as some in person. What follows is her keynote speech. Thank you Dax – All protocols […]

Guyana’s Gas-to-Shore Project Economically Viable

(DPI, 1.Feb.2021) — An analysis carried out by local Financial Analyst, Mr. Joel Bhagwandin, has found that the Government’s gas-to-shore project is financially viable. The Government’s transformative gas-to-shore project is underway and is set to be completed by 2023. The main objective is to transport sufficient gas from the Stabroek […]

Europe

IMF: World Economic Outlook Update

(IMF, 31.Jan.2021) — The International Monetary Fund (IMF) expects policy support and vaccines for Covid-19 to lift economic activity worldwide. Policy Support and Vaccines Expected to Lift Activity Although recent vaccine approvals have raised hopes of a turnaround in the pandemic later this year, renewed waves and new variants of […]