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.

Heard: Petronas Spuds Well Offshore Suriname

  • 0

(Energy Analytics Institute, 4.Nov.2020) — Malaysia-based Petronas and US-based ExxonMobil have commenced drilling of an exploratory well offshore Suriname in Block 52, according to sources close to Energy Analytics Institute (EAI). Prior to the start of summer, Petronas’ Vice President of Exploration Emeliana Rice-Oxley said the company would drill a […]

Petrobras Creates Climate Change Exec Management

  • 0

(Petrobras, 3.Nov.2020) — Petrobras, reinforcing the growing importance of the transition to low carbon in the company, informs the creation of the Climate Change Executive Management, which will be responsible for leading actions related to carbon management, reduction of air emissions, energy efficiency and climate change. The new structure will […]

CEOs At PetroEcuador And PetroAmazonas Resign

  • 0

(Energy Analytics Institute, 3.Nov.2020) — The CEOs of Ecuador state oil entities EP PetroEcuador, Ricardo Merino, and PetroAmazonas EP, Juan Carlos Bermeo, resigned within a 24-hour period over the weekend, reported online newspaper El Universo. Issues weighing in on both departures include fees related to Ecuador’s Oleoducto de Crudos Pesados […]

YPF Fuels Wins Top TierTM Certification

  • 0

(Energy Analytics Institute, 3.Nov.2020) — Fuels produced by Argentina’s YPF again won the Top TierTM international certification, which is promoted by the ten most important automotive companies in the North American market. YPF was the first company in the region and the only one in Argentina to be part of […]

Petrobras Reinforces Climate Change Initiatives

  • 0

(Petrobras, 3.Nov.2020) — Petrobras, reinforcing the growing importance of the transition to low carbon in the company, informs the creation of the Climate Change Executive Management, which will be responsible for leading actions related to carbon management, reduction of air emissions, energy efficiency and climate change. The new structure will […]

Venezuela Oil Exports Fall to New Lows

  • 0

(Reuters, 2.Nov.2020) — Venezuela’s oil exports fell to a historic low of 359,000 barrels per day (bpd) in October as most of state-run PDVSA’s long-term clients paused trade to meet a U.S. deadline to halt business with the firm, according to data seen by Reuters on Monday. The United States […]

Dubai Investment Team Visits With Guyana

  • 0

(Guyana Natural Resources Ministry, 31.Oct.2020) — A high-level team from the Private Office of His Highness Sheikh Ahmed Dalmook Al Maktoum, member of the ruling family of Dubai paid a courtesy call on Natural Resources Minister, Hon. Vickram Bharrat to seek and discuss investment opportunities, and strengthen collaboration with Guyana. […]

ExxonMobil To Reduce US Staff Levels

  • 0

(Exxon, 30.Oct.2020) — As part of an extensive global review announced earlier this year, the company plans to reduce staffing levels in the United States, primarily at its management offices in Houston, Texas. The company anticipates approximately 1,900 employees will be affected through voluntary and involuntary programs. The workforce reductions […]

Latin America Peers Warily Into US Election Mirror

  • 0

(Argus, 30.Oct.2020) — The region’s recovery from Covid-19 will depend heavily on who is dictating US policy, writes Patricia Garip. Waves of political chaos that recurrently engulf Latin America were not supposed to wash up on stable US shores. Yet days before the 3 November election, the US is convulsed […]

Petrobras Initiates AraucĂĄria Binding Phase

  • 0

(Petrobras, 30.Oct.2020) — Petrobras, following up onthe press release disclosed on 17 September 2020,informs the beginning of the binding phase regarding the sale of all its shares in the wholly-owned subsidiary AraucĂĄria Nitrogenados SA (ANSA). Potential buyers qualified for this phase will receive instructions on the divestment process, including guidelines […]

Total’s 3Q:20 Results Call Transcript

  • 0

(Seeking Alpha, 30.Oct.2020) — Details of Total’s third quarter earnings conference call on 30 October 2020 can be found here. Company Participants Jean-Pierre Sbraire – Chief Financial Officer Conference Call Participants Oswald Clint – Sanford C. Bernstein & Co. Lydia Rainforth – Barclays Bank Biraj Borkhataria – RBC Capital Markets […]

SimĂłn BolĂ­var Foundation Rejects Maduro Allegations

  • 0

(Citgo, 30.Oct.2020) — Given the recent accusations made by representatives of the NicolĂĄs Maduro regime, the SimĂłn BolĂ­var Foundation, the private non-profit foundation of Citgo Petroleum Corporation, categorically rejects the allegations regarding the Foundation’s activities and its President Ms. Mariela Poleo, for being completely false and unfounded. The SimĂłn BolĂ­var […]

UPME On Pacific Facility Investor Selection

  • 0

(Energy Analytics Institute, 30.Oct.2020) — Colombia’s Mining and Energy Planning Unit (UPME) officially started the investor selection process for the Pacific Gas Import Infrastructure project, which will encompass LNG storage, regasification, natural gas transportation as well as associated services . Highlights: — The deal will be awarded before the end […]

Maduro Condemns Amuay Attack, Blames Duque

  • 0

(Energy Analytics Institute, 29.Oct.2020) — Venezuela’s leader NicolĂĄs Maduro Moros says the Amuay refinery in Punto Fijo in FalcĂłn state was attacked by terrorist groups with backing from Colombia. “What has happened is something very serious, it’s an act by terrorist groups that IvĂĄn Duque is preparing from Colombia to […]

Ecuador Spot Oil Sales Between 2017-2020

  • 0

(Energy Analytics Institute, 29.Oct.2020) — EP PetroEcuador conducted 14 crude oil spot sales between 2017 and 2020, daily newspaper El Universo reported 29 October 2020. Details from Ecuador’s Energy Ministry reveal that between 2017 and 2019 approximately 25.8 million barrels were sold for a sum of $1.6bn. In accordance with […]

Hess CEO Eyes 10 FPSOs In The Stabroek Block

  • 0

(Energy Analytics Institute, 29.Oct.2020) — Hess Corporation CEO John Hess announced estimated resources offshore Guyana in the Stabroek Block were approximately 9 billion barrels of oil equivalent, and potentially requiring 10 floating production storage and offloading (FPSO) units to develop them. “Incorporating the current assessment of additional volumes from the […]

ConocoPhillips Reports 3Q:20 Results

  • 0

(ConocoPhillips, 29.Oct.2020) — ConocoPhillips reported a third-quarter 2020 loss of $0.5 billion, or ($0.42) per share, compared with third-quarter 2019 earnings of $3.1 billion, or $2.74 per share. Excluding special items, third-quarter 2020 adjusted earnings were a loss of $0.3 billion, or ($0.31) per share, compared with third-quarter 2019 adjusted […]

Guyana, ExxonMobil Negotiating Gas Price

  • 0

(Argus, 29.Oct.2020) — Guyana is negotiating a gas price with ExxonMobil for a gas-to-power project to be commissioned at the end of 2023, government officials said this week. The US major would supply the gas from the deepwater Stabroek block where it started crude production at the Liza field in […]

Citgo Names John Zuklic As Chief Financial Officer

  • 0

(Citgo, 29.Oct.2020) — The Board of Directors of Citgo Petroleum Corporation appointed John Zuklic as Vice President Finance and Chief Financial Officer (CFO), reporting to Citgo President and CEO Carlos JordĂĄ, effective 4 Nov. 2020. Zuklic was selected after a thorough, competitive search process that evaluated a number of highly […]

Total Reports Second South African Gas Condensate Find

  • 0

(Total, 28.Oct.2020) — Total made a significant gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa. This discovery follows the adjacent play opening Brulpadda discovery in 2019, which proved a significant new petroleum province in […]

France’s Total Charters Four New LNG-powered Vessels

  • 0

(Total, 28.Oct.2020) — Total is pursuing its strategy to reduce greenhouse gases emissions in maritime transportation, by chartering four Aframax-type vessels equipped with liquefied natural gas (LNG) propulsion. These vessels, each with a capacity of 110,000 tons of crude oil or refined products, will be delivered in 2023 and will […]

Exxon Mobil Corporation Declares 4Q:20 Dividend

  • 0

(Exxon, 28.Oct.2020) — The Board of Directors of Exxon Mobil Corporation declared a cash dividend of $0.87 per share on the Common Stock, payable on 10 December 2020 to shareholders of record of Common Stock at the close of business on 12 November. This fourth quarter dividend is at the […]

Petrobras Updates On Dividend Policy

  • 0

(Petrobras, 28.Oct.2020) — Petrobras informs that its Board of Directors, in a meeting held yesterday, approved the revision of the Shareholders Compensation Policy in order to enable the Management to propose the payment of dividends compatible with the company’s cash generation, even in years with accounting losses. With the changes […]

Africa Oil Reports Find In South Africa’s Block 11B/12B

  • 0

(Africa Oil Corp., 28.Oct.2020) — Africa Oil Corp. announced a significant gas condensate discovery on the Luiperd prospect located on Block 11B/12B offshore South Africa. This discovery follows the adjacent play-opening Brulpadda discovery in 2019, which proved a significant new petroleum province in the region. The company holds an indirect […]

Maduro Says Amuay Hit By ‘Terrorist Tttack’

  • 0

(Reuters, 28.Oct.2020) — Venezuelan President Nicolas Maduro on Wednesday said the country’s Amuay oil refinery was victim of a terrorist attack on Tuesday that involved a “powerful weapon”, but said the country had gasoline reserves equivalent to 20 days of consumption. An explosion hit a distillation unit at the 645,000 […]

Ecopetrol’s 3Q:20 Earnings Call Transcript

  • 0

(Seeking Alpha, 28.Oct.2020) — Colombia’s Ecopetrol announced it 3Q:20 earnings results. The transcript from the earnings conference call on 28 October 2020 with analyst follows. Company Participants Felipe BayĂłn – Chief Executive Officer Alberto Consuegra – Chief Operating Officer Jaime Caballero – Chief Financial Officer Yeimy Baez – Gas Vice […]

Ecopetrol Reports Positive 3Q:20 Results

  • 0

(Ecopetrol, 28.Oct.2020) — Ecopetrol S.A. announced the Ecopetrol Group’s financial results for the third quarter and the first nine months of 2020. Financial results were prepared in accordance with the International Financial Reporting Standards applicable in Colombia. *Ebitda adjusted to exclude the effect of the Voluntary Retirement Plan amounts to […]

Ecuador Ends Maintenance At Shushufindi Gas Plant

  • 0

(Energy Analytics Institute, 28.Oct.2020) — EP PetroEcuador finalized scheduled maintenance at the Shushufindi Gas Plant located in the SucumbĂ­os province. Work activities took place over 14 days and included an integral revision of the rotating and static equipment at the plant to guarantee operational safety and maintain production at its […]

Total Obtains 20% Of Volumes In Solar Tender

  • 0

(Total, 27.Oct.2020) — Total, through Total Quadran, a wholly-owned affiliate dedicated to developing and producing renewable energy in France, was awarded 67 megawatt-peak (MWp) of solar projects representing 20% of the volumes awarded in the eighth period of the CRE (French Energy Regulatory Commission) call for tenders. Total is thus […]

Venezuela Briefs: Amuay Explosion; Cardon Gasoline

  • 0

(Energy Analytics Institute, 27.Oct.2020) — Refinery briefs from Venezuela on another explosion at PetrĂłleos de Venezuela’s Amuay refinery and the restart of gasoline production at its Cardon refinery. Both refineries are located in Punto Fijo, Venezuela. Explosion At PDVSA’s Amuay Refinery An explosion at PDVSA’s Amuay refinery impacted the the […]

Petrobras Acquires FPSO P-71 For Itapu Field

  • 0

(Petrobras, 27.Oct.2020) — Petrobras informs that, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil PetrĂłleo Ltda (25%) and Petrogal Brasil S.A. (10%), signed a commitment to purchase platform P-71, subject to the foregoing conditions related to milestones in the unit’s physical progress. It was also agreed to prepare […]

Financial Markets Are Not Venezuela’s Enemy

  • 0

(Bloomberg, 27.Oct.2020) — The Guaido administration’s loss in a lawsuit over Citgo’s assets shows the folly of dragging international investors into the highly polarized conflict of Venezuelan politics. On October 16, Judge Katherine Polk Failla of the Southern District of New York dismissed an attempt by the administration of Juan […]

Petrobras Receives Proposal For Gaspetro

  • 0

(Petrobras, 27.Oct.2020) — Petrobras informs, regarding the news published in the media, that it received yesterday binding proposals for the sale of its 51% stake in Gaspetro S.A. (Gaspetro) and the proposal of Compass GĂĄs e Energia S.A. was one of those received. The receipt of binding proposals is one […]

Atlas Renewable Obtains $67mn Loan From IDB Group

  • 0

(Atlas Renewable Energy, 26.Oct.2020) — Atlas Renewable Energy obtained a $67 million loan from IDB Invest, member of IDB Group, and from DNB Bank ASA (Norway) to finance the construction of Jacaranda, a 187MWp solar project being developed by Atlas Renewable Energy in Brazil, marking the first time that a […]

Karoon Energy Names Julian Fowles As New CEO

  • 0

(Karoon Energy, 26.Oct.2020) — Karoon Energy Ltd announced Dr Julian Fowles has been appointed as Chief Executive Officer and Managing Director. Dr Fowles will commence with Karoon immediately following the conclusion of Karoon’s annual general meeting on 27 November 2020. Karoon Chairman, Bruce Phillips said, “After an extensive and rigorous […]

Highview Power And Enlasa To Develop Storage Projects

  • 0

(Highview Power, 25.Oct.2020) — Highview Power, a global leader in long duration energy storage solutions, entered into a joint venture agreement with EnergĂ­a Latina S.A.-Enlasa, the largest backup power generation provider in Chile, to co-develop giga-scale cryogenic energy storage projects in Chile and other Latin American markets. The joint venture, […]

Venezuela Eyes Oil Output Of 1.829 MMb/d in 2021

  • 0

(Energy Analytics Institute, 24.Oct.2020) — Venezuela’s oil minister Tareck El Aissami and PetrĂłleos de Venezuela (PDVSA) head AsdrĂșbal ChĂĄvez revealed plans to achieve a production goal of 1,829,000 barrels per day in 2021, according to data published by the daily Venezuelan newspaper Panorama. The officials also revealed an average budget […]