ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

US May Restore Venezuela Diesel Swaps, Ease Waiver

(Argus, 20.Jan.2021) — The new US administration is considering whether to reinstate Venezuelan crude-for-diesel swaps and ease a key sanctions waiver, but policy reversals alone would not be enough to meaningfully revive the Opec country’s oil production after years of neglect. At his senate confirmation hearing yesterday, secretary of state […]

OFAC Targets Individuals And Entities Helping Maduro

(Energy Analytics Institute, 19.Jan.2021) — US Treasury Department’s Office of Foreign Asset Control, or OFAC, slapped sanctions on three individuals, 16 companies and seven vessels for their alleged ties to networks trying to evade US sanctions imposed on Venezuela’s oil sector. The individuals targeted included Philipp Apikian, Alessandro Bazzoni, Francisco […]

Kosmos Boast GOM Exploration Success

(Kosmos, 19.Jan.2021) — Kosmos Energy announced an oil discovery in the US Gulf of Mexico at the Winterfell infrastructure-led exploration (“ILX”) well (Kosmos working interest 17.5%). Winterfell was designed to test a sub-salt Upper Miocene prospect located in Green Canyon Block 944. The well encountered approximately 26m (85ft) of net […]

Driller Stuns Creditors As Argentina’s Dollars Dwindle

(Bloomberg, 19.Jan.2021) — In the 99 years since it was founded to pump the oil fields of Patagonia, Argentine energy driller YPF SA has been whipsawed by countless booms and busts. If global oil markets weren’t collapsing, it seemed, then Argentina was mired in a debt crisis that was wreaking havoc on […]

FMC Updates 4Q:20 Outlook, Highlights Brazil, Argentina

(FMC, 19.Jan.2021) — FMC Corporation it is reducing its fourth quarter 2020 outlook. The company is proceeding through its quarterly close, and based on preliminary results expects fourth quarter revenue of approximately $1.15bn as compared with prior guidance of $1.23bn to $1.29bn, and fourth quarter adjusted EBITDA in the range […]

Tetra On Mineral, Low Carbon Energy Initiatives

(Tetra Technologies, 19.Jan.2021) — Tetra Technologies, Inc. announced that Tim Moeller, Senior Vice-President Chemicals and Supply Chain, has been assigned to lead the company’s initiatives involving its industrial products and key mineral resources in the company’s Arkansas brine leases to support carbon capture and advances in energy storage and battery […]

CSI Compressco Announces Quarterly Distribution

(Energy Analytics Institute, 19.Jan.2021) — CSI Compressco LP’s board of directors of its general partner has declared a cash distribution attributable to the quarter ended 31 December 2020 of $0.01 per outstanding common unit, or $0.04 per outstanding common unit on an annualized basis. CSI, which provides compression services and […]

CSI Compressco On 4Q:20 Conference Call, Webcast

(CSI Compressco LP, 19.Jan.2021) — CSI Compressco LP expects to release its fourth quarter and full year 2020 results before the opening of the market on Wednesday, 24 February 2021. Following the release, CSI Compressco will host a conference call at 10:30 a.m. Eastern Time to discuss the results. CSI […]

Ecopetrol On Sale Of Stake In Offshore Int’l Group

(Ecopetrol, 19.Jan.2021) — Ecopetrol S.A. signed a Share Purchase Agreement with De Jong Capital LLC, through one of its subsidiaries as buyer, pursuant to which Ecopetrol sold its 50% ownership interest in Offshore International Group (OIG). This divestment is the result of a successfully competed process between a number of […]

OFAC Sanctions Individuals, Entities And Vessels

(Energy Analytics Institute, 19.Jan.2021) — The US Department of State updated its list of designated nationals; entities and vessels assisting Venezuela’s President Nicolas Maduro cling to power. The list follows. The following individuals have been added to OFAC’s SDN List: APIKIAN, Philipp Paul Vartan; DOB 15 Jan 1969; POB Geneva, […]

Trinidad To Relaunch Tender For Refinery

(Argus, 19.Jan.2021) — Trinidad and Tobago will seek new bids for its idle 165,000 b/d Pointe-a-Pierre refinery following the November 2020 collapse of a sale agreement with a labor union-owned company, energy minister Franklin Khan said today. A $700mn offer from Patriotic Energies and Technologies (PET) in 2019 was preferred […]

US Relations With Ecuador: Fact Sheet

(US State Department, 19.Jan.2021) — The United States sent a consul to Guayaquil, Ecuador, in 1825, and the U.S. Embassy in Quito opened in 1848. The United States and Ecuador share a history of partnership and cooperation, and have mutual interests in economic prosperity, democratic governance, regional security, environmental sustainability […]

Petrobras Comments On Refinery Divestments

(Petrobras, 19.Jan.2021) — Petrobras, regarding the news published in the media on the divestments progress of the refineries, clarifies: (i) the company has received a binding proposal for the sale of Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul, and is in the negotiation phase with Ultrapar Participações S.A.; […]

Trump Hits Venezuela With Sanctions

(AP, 19.Jan.2021) — The Trump administration issued a parting shot at Venezuelan President Nicolás Maduro on Tuesday, announcing a sweeping round of stiff financial sanctions that target a network accused of moving oil on behalf of the president’s alleged frontman. In a sign of future U.S. policy toward Venezuela, President-elect […]

Europe

Mainstream Renewable Inks €1bn Equity Investment Deal

(Mainstream Renewable, 19.Jan.2021) — Global wind and solar company, Mainstream Renewable Power, has signed an agreement with the renewable energy investment company Aker Horizons (a wholly owned subsidiary of Aker ASA) which will take a 75% equity stake in the company, subject to regulatory approval. The deal values Mainstream at […]

Treasury Targets Venezuelan Sanctions Evasion Network

(US Treasury, 19.Jan.2021) — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals, fourteen entities, and six vessels for their ties to a network attempting to evade United States sanctions on Venezuela’s oil sector. The illegitimate Maduro regime has continued to use Petroleos […]

Venezuela Orders Arrest Of New Citgo Board Member

(Reuters, 18.Jan.2021) — Venezuelan authorities issued an arrest warrant for a new member of the board of directors of U.S.-based refining firm Citgo Petroleum Corp named by the opposition this month, chief prosecutor Tarek Saab said on Monday. Saab said Jose Ramón Pocaterra was “illegally designated” to the board of […]

Entities Look To Press Biden On Venezuela Fuel Swaps

(Reuters, 18.Jan.2021) — Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. The Trump administration since the last quarter of 2020 has barred companies […]

Petrobras On Amendments To Deals With CADE

(Petrobras, 18.Jan.2021) — Petrobras in relation to the news published in the media clarifies that the company did not sign the amendment to the Commitment Agreement (“TCC”) signed with the Administrative Council for Economic Defense (CADE) for the refining market. The draft of the amendment was approved by CADE to […]

Petrobras Comments On New Pension Plan (PP-3)

(Petrobras, 18.Jan.2021) — Petrobras, following up on the release disclosed on 1 October 2020, informs that the Petros Deliberative Council and the company’s Board of Directors have approved a new version of the documentation for the opening of the Petros Plan 3 (PP-3) and migration process, after the conclusion by Petros […]

e-Zinc Raises $2.3mn From BDC Capital

(e-Zinc, 18.Jan.2021) — e-Zinc, a Toronto-based energy storage innovator, raised $2.3mn in a closed round led by BDC Capital’s Cleantech Practice. e-Zinc has developed a breakthrough technology for grid-scale energy storage that stores energy in physically-free zinc metal. By decoupling power and energy, the company scales energy capacity at a […]

Keystone XL Commits To Renewable Energy

(TC Energy, 17.Jan.2021) — TC Energy Corporation today announced a new sustainable energy initiative for the Keystone XL Project. The company will achieve net zero emissions across the project operations when it is placed into service in 2023 and has committed the operations will be fully powered by renewable energy […]

Latin America and the Caribbean

Shell Nigeria Gas Inks 20-Year Gas Distribution Deal

(Shell, 17.Jan.2021) — Leading domestic gas distribution company, Shell Nigeria Gas (SNG), has signed a 20-year agreement for the domestic distribution of gas to industrial customers and manufacturing plants in Lagos and Ogun States. In the new deal with the Nigerian Gas Marketing Corporation (NGMC), SNG will also extend its […]

Venezuela’s Maduro accuses US president Donald Trump of backing attacks on CRP

CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 15.Jan.2021, Words: 169) — Venezuela’s leader Nicolás Maduro reiterated earlier claims that US President Donald Trump ordered the sabotage of the OPEC country’s Amuay and Cardón refineries in Punto Fijo. “Dozens of Venezuelan and Colombian mercenaries have been captured planning conspiracies against our […]

Latin America and the Caribbean

Exxon’s Hassa-1 Doesn’t Finds Hydrocarbons

(Energy Analytics Institute, 15.Jan.2021) — Texas-based ExxonMobil announced results of the Hassa-1 exploration well offshore Guyana in the Stabroek Block didn’t find hydrocarbons in the primary reservoir target. “The Hassa-1 exploration well in the Stabroek block did not encounter hydrocarbons in the primary target reservoirs,” an Exxon spokesperson told Energy […]

Petrobras Starts North Capixaba Binding Phase

(Petrobras, 15.Jan.2021) — Petrobras, following up on the press release disclosed on 29 September 2020, informs the beginning of the binding phase regarding the sale of the totality of its stakes in a set of four onshore field concessions, with integrated facilities, jointly named North Capixaba Cluster, located in the […]

SPDC Closes Sale Of Interest In Oil Mining Lease 17

(Shell, 15.Jan.2021) — The Shell Petroleum Development Company of Nigeria Limited (SPDC), has completed the sale of its 30% interest in Oil Mining Lease (OML) 17 in the Eastern Niger Delta, and associated infrastructure, to TNOG Oil and Gas Limited, a related company of Heirs Holdings Limited and Transnational Corporation […]

Venezuela Eyes Private Cos Operating Oil Fields

(Reuters, 14.Jan.2021) — Venezuelan officials have met in recent months with small domestic oilfield contractors to propose letting them operate fields owned by state-owned PDVSA while pocketing part of the proceeds, according to six people with knowledge of the talks. The talks show President Nicolas Maduro, facing a collapse in […]

Panama Canal LNG Vessel Bottleneck Could Go Months

(Reuters, 14.Jan.2021) — Congestion delaying LNG shipments via the Panama Canal is expected to last through the peak demand winter months, traders close to the situation said, although the canal’s regulator said it had made changes to speed up transit. The price of liquefied natural gas (LNG) and shipping rates […]

Judge Approves Citgo Parent Share Sale

(Argus, 14.Jan.2021) — Venezuela inched closer to losing control of its US refining subsidiary Citgo today after a federal judge began crafting a sale process for shares of its controlling company to pay off the country’s international debts. The court will move forward with the process of selling shares of […]

Venezuela Creates Special Crisis Commission

(Xinhua, 14.Jan.2021) — Venezuela’s National Assembly on Thursday established a Special Commission for Dialogue, Peace and National Reconciliation, made up of ruling coalition and opposition legislators, to resolve the economic crisis generated by U.S.-led sanctions. “We made an effort so that all political forces… in the national parliament joined this […]

Europe

Höegh LNG Partners On 4Q:20 Cash Distributions

(Höegh LNG, 14.Jan.2021) — Höegh LNG Partners LP announced today its board of directors has declared a quarterly cash distribution with respect to the quarter ended 31 December 2020 of $0.44 per unit for the common units. The distribution corresponds to an annualized distribution of $1.76 per unit. The cash […]

Total Announces Fourth Find In Suriname’s Block 58

(Total, 14.Jan.2021) — Total and Apache Corporation have made a new significant oil and gas discovery at the Keskesi East-1 well, in Block 58 off the coast of Suriname. This follows previous discoveries at Maka Central, Sapakara West and Kwaskwasi. The well was drilled by a water depth of about […]

Keskesi East-1 Finds Oil In Block 58 Offshore Suriname

(Apache, 14.Jan.2021) — Apache Corporation and Total S.A. today announced an oil discovery at the Keskesi East-1 exploration well in Block 58 offshore Suriname. Keskesi East-1 encountered targets in the upper Cretaceous-aged Campanian and Santonian intervals. The shallower Campanian interval contains 58m (190ft) of net oil, volatile oil and condensate […]

SPDC Declares Force Majeure In Nigeria

(Energy Analytics Institute, 14.Jan.2021) — The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC joint venture and the Forcados Oil Terminal in Nigeria, declared a force majeure on the Forcados Oil Terminal Offtake Program effective 1000 hours Nigerian time on Thursday 14 January 2021. The action […]

Petrobras CEO Denies Claims Of ‘Predatory’ Pricing Policy

(Reuters, 13.Jan.2021) — Roberto Castello Branco, chief executive of Brazil’s state-run oil company Petroleo Brasileiro SA, has dismissed accusations from private fuel importers that the firm is enforcing a price policy that does not reflect market dynamics. Branco said in the Wednesday edition of daily Valor Econômico that the claims […]

Five Illegal Refineries Destroyed in Norte de Santander

(General Command of the Colombian Military Forces, 13.Jan.2021) — Through a joint, coordinated and interagency operation conducted by the Colombian Air Force, the National Army, the National Police and the CTI (Technical Investigations Corps) of the Attorney General’s Office, it was possible to find and destroy, in a controlled manner, five illegal refineries for fuel production, which […]

Slidgo Announces X8 Quick-Folding Electric Scooter

(Adorama, 13.Jan.2021) — Slidgo announced the new X8 Electric Scooter designed to make transportation fun, easy and accessible, at an affordable price. Available exclusively at Adorama, the Slidgo X8 Electric Scooter is the optimal choice for anyone looking for a sustainable and efficient way to get around town, without compromising style, […]

Petrobras’ 4Q:20 Results Call Details

(Energy Analytics Institute, 13.Jan.2021) — Petrobras will report and release its production and sales details for the fourth quarter 2020 on 2 February 2021 followed by its fourth quarter financial performance report on 24 February, after the markets close. The Rio de Janeiro-based oil giant will hold webcasts on 25 […]

Cheinere Marks Arrival Of First Cargo With CPC Taiwan

(Energy Analytics Institute, 12.Jan.2021) — Cheniere Energy announced arrival of its first cargo under a long-term contract with CPC Taiwan, the first of hundreds over the next 25 years. Cheniere said in a social media post that its partnership with CPC “will help deliver lower carbon emissions and increased energy […]

Nigeria Solar Firm Gets $38mn To Expand

(Bloomberg, 12.Jan.2021) — Daystar Power, a Nigerian solar energy provider, has raised $38 million with the support of Investment Fund for Developing Countries and Morgan Stanley Investment Management to expand solar access across West Africa. Lagos-based Daystar plans to replace “unreliable grid or too expensive, polluting diesel generators,” with clean […]

Guyana And US Ink Agreement In Georgetown

(DPI, 12.Jan.2021) — Chief of Staff of the Guyana Defence Force Brigadier Godfrey Bess and Commander of the U.S. South Command, Admiral Craig S. Faller, moments ago, signed an Acquisition and Cross-Servicing Agreement on behalf of Guyana and the United States. The signing was done in the Baridi Benab, State […]

Africa
Ghana

Reganosa To Operate LNG Terminal In Ghana

(Reganosa, 12.Jan.2021) — Reganosa has been awarded the contract to operate and maintain a liquefied natural gas (LNG) regasification terminal in Tema, Ghana. Currently under construction, the Tema LNG terminal is an innovative addition to the region’s infrastructure and unique in sub-Saharan Africa, as both its storage (FSU) and regasification […]

Maduro Says Venezuela Eyes Output Of 1.5 MMB/D

(Energy Analytics Institute, 12.Jan.2021) — Venezuela’s President Nicolas Maduro, during his annual speech to the nation on 12 January 2021, announced the OPEC country was eyeing oil production of 1.5 million barrels per day thanks in part to the Anti-Blockage Law. No further details were revealed by the leader, but […]

Europe

France’s Total Acquires Fonroche Biogaz

(Total, 11.Jan.2021) — Total announces the acquisition of Fonroche Biogaz, a company that designs, builds and operates anaerobic digestion units in France. With close to 500 gigawatt-hours (GWh) of installed capacity, which doubled between 2019 and 2020, Fonroche Biogaz is today the French market leader in the production of renewable […]

Trinidad And Tobago Energy Event And Trade Show 2021

(Trinidad Energy Chamber, 11.Jan.2021) — The Trinidad and Tobago Energy Conference will take place from 7-9 June 2021. Highlights: Event: Trinidad and Tobago Energy Conference (TTEC) Date: 7-9 June 2021 Hosted By: Energy Chamber of Trinidad and Tobago (map) City: Point Lisas, Trinidad and Tobago This conference is the major […]

Trinidad: Energy Efficiency And Renewables Event 2021

(Trinidad Energy Chamber, 11.Jan.2021) — The Energy Efficiency and Renewables Conference takes place from 1-3 February 2021. Highlights: Event: Energy Efficiency and Renewables Conference Date: 1-3 February 2021 Hosted By: Energy Chamber of Trinidad and Tobago (map) City: Point Lisas, Trinidad and Tobago The Energy Efficiency and Renewables Conference is […]

Global Witness Withdraws Guyana Report

(Global Witness, 11.Jan.2021) — The climate emergency is the greatest threat facing the world. If we are to prevent its worst impacts we all must act now. For Global Witness this has meant redirecting our efforts to fighting the main drivers of the climate crisis: deforestation, the extraction and burning […]

Grenergy And Natixis Close Portfolio Financing In Chile

(Grenergy, 11.Jan.2021) — Grenergy Renovables S.A., with Natixis as Sole Lead Arranger, Hedge Provider, LC Issuing Bank and Administrative Agent, have successfully closed senior secured facilities totaling $91mn for an expected 130 MWp portfolio of 14 solar photovoltaic (“PV”) plants in Chile. This marks Natixis’ first transaction with Grenergy and […]

OPEC Voluntary Production Levels (PDF DOWNLOAD)

(Energy Analytics Institute, 11.Jan.2021) — OPEC’s voluntary crude oil production levels for the months of January, February, and March. __________ By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.