ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

Petrobras Deal With Acron Group Flops

(Energy Analytics Institute, Aaron Simonsky, 26.Nov.2019) — Brazil’s state oil company Petrobras announced that ongoing negotiations with Acron Group closed without the companies coming to agreement regarding divestment of the Brazilian company’s 100% equity interest in Araucária Nitrogenados S.A. (ANSA) and Nitrogen Fertilizer Unit III (UFN-III). Rio de Janeiro-based Petrobras […]

Conoco Seeks Seizure Of Citgo Parent

(Reuters, 26.Nov.2019) — U.S. oil company ConocoPhillips on Tuesday filed a motion in a Delaware court seeking to seize shares in the parent of U.S. refiner Citgo Petroleum to collect on an arbitration award against Venezuelan state oil company PDVSA. Citgo, a PDVSA subsidiary and Venezuela’s crown jewel overseas asset, […]

Cos. Bid On 15 Colombian Blocks

(Reuters, 26.Nov.2019) — Oil companies placed bids for just 15 of 59 blocks in Colombia’s ongoing oil auction, the national hydrocarbons agency (ANH) said on Tuesday, below the ANH’s hoped-for number of offers. The ANH had said it wanted to sign 20 contracts as a result of the round, bringing […]

Equinor Says Brazil ‘Hotspot’ Of Int’l Efforts

(Reuters, 26.Nov.2019) — Norway’s Equinor plans to drill 30-40 oil and gas exploration wells globally in 2020, similar this year, with Brazil being a “hotspot” of its international efforts, the company’s exploration head said on Tuesday. The company will drill about 20-30 exploration wells on the Norwegian continental shelf, focusing […]

Unpaid Bills Add To Pemex Woes

(Bloomberg, Amy Stillman, Peter Millard and Justin Villamil, 26.Nov.2019) — Companies that help keep Mexico’s faltering oil wells operating are waiting months to get paid and the debts are building up, complicating efforts to revive an industry whose production has plunged by half since 2004. Pemex, facing pressure from the […]

JinkoSolar To Supply 950MW To X-ELIO

(JinkoSolar, 26.Nov.2019) — JinkoSolar Holding Co., Ltd., one of the largest and most innovative solar module manufacturers in the world, announced it has delivered to X-ELIO, a leading company dedicated to the development, construction and operation of photovoltaic plants, 950 MW of its ultra-high efficiency Cheetah 72 cells solar modules […]

Ecopetrol Targets Higher CAPEX In 2020

(Ecopetrol, 25.Nov.2019) — Ecopetrol S.A. reported that in 2020 the Ecopetrol Group (GE) plans to invest an expected US$4.5 to US$5.5 billion, 25% to 53% higher than the estimated 2019 figure for organic investment. The plan approved by the Board of Directors, which prioritizes opportunities under strict capital discipline, is […]

Valaris Announces New Contract Awards

(Valaris, 25.Nov.2019) — Valaris plc announced new contracts and contract extensions, with associated revenue backlog of approximately $285 million, awarded subsequent to a prior fleet status report dated October 25, 2019. — VALARIS DS-18 (Relentless) contract extended due to the exercise of a one-well priced option with EnVen in the […]

Pemex Cyberattack Has US Cos. Taking Precautions

(Chron.com, Sergio Chapa, 25.Nov.2019) — American oil companies operating south of the border are stepping up their cybersecurity measures after reports of a ransomware attack that allegedly knocked out computers at Mexico’s state-run oil company Petroleos Mexicanos, or Pemex. Mexican media outlets have been reporting over the past two weeks […]

Venezuela Ships Petcoke Cargo To Cuba

(Energy Analytics Institute, Piero Stewart, 25.Nov.2019) — OPEC member country Venezuela reportedly shipped a cargo of petroleum coke to Cuba valued at an estimated $1.7 million, according to sources in Punto Fijo, Venezuela. A cargo of 26,000 metric tons of petcoke was loading onto the Lagonda tanker on 24 Nov. […]

Ex-Petrobras Trader Tells Judge Vitol Bribed Him

(Bloomberg, Sabrina Valle and Andy Hoffman, 25.Nov.2019) — A former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol Group to favor the firm in contracts with the crude producer, court documents show. Carlos Roberto Martins Barbosa […]

YPFB Dispatches Fuel, LPG From Senkata Plant

(Energy Analytics Institute, Ian Silverman, 23.Nov.2019) — Bolivia’s state oil company Yacimientos Petrolíferos Fiscales Bolivianos announced the dispatch of 1.8 million liters of gasoline and diesel and 10,119 bottles (cylinders) of liquefied petroleum gas (LPG) to the cities of La Paz and El Alto after suspension of a blockade at […]

ENAP Maritime Terminal Certified By Navy

(Energy Analytics Institute, Aaron Simonsky, 22.Nov.2019) — The marine terminal related to ENAP’s Bío Bío Refinery, located in the port of San Vicente in the community of Talcahuano, received its operational certificate. The certificate – delivered by the Chilean Navy – guarantees that the company meets the requirements demanded by […]

BPC And Baker Hughes Seal Bahamas Deal

(Offshore Energy, 22.Nov.2019) — Bahamas Petroleum Company (BPC) has finalized an agreement with Baker Hughes for the provision of equipment for its first exploration well in The Bahamas in 2020. However, the company is still working to secure the financing and finalize a rig contract with Seadrill. In August 2019, […]

Bolivia Gov’t Charges Morales With Terrorism

(Reuters, Daniel Ramos, 22.Nov.2019) — Bolivia’s interim government filed a criminal complaint on Friday against former President Evo Morales for alleged sedition and terrorism, the interior minister said, as authorities began probes of his allies that they accuse of corruption and fomenting unrest. Interim President Jeanine Anez, a former senator […]

Ecuador’s New Minister Eyes $6.9bn In Investments

(Energy Analytics Institute, Piero Stewart, 22.Nov.2019) — Ecuador’s new oil minister José Agusto announced the South American country continues with plans for another bid round, while he added the country has also attracted investor interest in a new refinery. Ecuador, which recently experienced weeks of protests related to a failed […]

Petrobras Starts Refinery Binding Phase

(Petrobras, 22.Nov.2019) — Petrobras, following up on the release dated August 30, 2019, informs the beginning of the binding phase regarding the first stage of the sale of refining and associated logistics assets in the country, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, Landulpho Alves (RLAM) in […]

Ecuador Inaugurates Galapagos Photovoltaic Plant

(Energy Analytics Institute, Piero Stewart, 21.Nov.2019) — An energy storage system comprised of batteries of 2.2 megawatt hours was inaugurated on 21 Nov. 2019 on the island of San Cristobal, province of Galapagos. Construction of the new 1-megawatt photovoltaic power plant will cost an estimated $5.8 million, Ecuador’s Ministry of […]

Höegh LNG Updates On Colombia, Other Ops

(Höegh LNG, 21.Nov.2019) — Höegh LNG Partners LP provided its quarterly outlook for the LNG market with details on its operations in Cartagena, Colombia. A subsidiary of the Partnership, as the owner of the Höegh Gallant, has a lease and maintenance agreement with EgyptCo until April 2020. To date, the […]

Third Circuit Rejects Citgo Rehearing

(Argus, Elliott Blackburn, 21.Nov.2019) — Federal appeals court judges have denied Venezuela’s request to rehear a July decision upholding the pursuit of the country’s US refining subsidiary Citgo to satisfy billions of dollars of debts. The US Third Circuit Court of Appeals denied a request to hear arguments on the […]

Maduro Pledges 30 MMbbls To Back Cryptocurrency

(Oilprice.com, Irina Slav, 21.Nov.2019) — Venezuela will use some 30 million barrels of oil it has in storage as backing for its national cryptocurrency, the petro, Reuters reports, citing a speech by President Nicolas Maduro. “I will deliver these 30 million of barrels as a liquid, physical, material backing for […]

Asia

JCC-indexed LNG Contracts Could Lose $15bn

(WoodMac, 21.Nov.2019) — Wood Mackenzie’s latest report reveals that LNG sellers with contracts linked to JCC (Japan Crude Cocktail) could lose some US$15 billion in unearned revenues. This is a result of the IMO 2020 regulation limiting sulphur content of marine fuels to up to 0.5%, which directly affects the […]

US Court Denies Citgo Rehearing

(S&P Global Platts, 21.Nov.2019) — A US appeals court Thursday denied Venezuela’s request for it to reconsider its ruling allowing a PDVSA creditor to go after US refiner Citgo, its most valuable foreign asset. The ruling by 13 judges on the US 3rd Circuit Court of Appeals in Philadelphia upholds […]

Petrobras And Proquigel Ink Fertilizer Lease Deal

(Petrobras, 21.Nov.2019) — Petrobras signed with Proquigel Química S.A., a company of Unigel Group, lease agreements of its fertilizer plants in Bahia (Fafen-BA) and Sergipe (Fafen-SE), for the total amount of R$ 177 million for a period of 10 years, renewable for the same term. Leases will become effective upon […]

Moody’s Ecopetrol Review

(Moody’s, 21.Nov.2019) — Moody’s Investors Service (“Moody’s”) has completed a periodic review of the ratings of Ecopetrol S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody’s reassessed the appropriateness of the ratings in the context of […]

Latin America and the Caribbean

Trinidad’s Gas Reserve Rise Slightly In 2018

(Energy Analytics Institute, Piero Stewart, 20.Nov.2019) — Trinidad and Tobago’s proved natural gas reserves rose just 0.1% to 10,526 billion cubic feet (Bcf) in 2018 compared to 10,515 Bcf in 2017, according to details in a reserve report prepared by Ryder Scott Company Petroleum Consultants. The country’s probable gas reserves […]

Why ExxonMobil’s Guyana Success May Have Hurt Petrobras

(The Motley Fool, John Bromels, 20.Nov.2019) — Oil is a big business with even bigger money attached. That’s why governments that control oil assets are eager to auction them off to the highest bidder in the hopes of getting a major payout. But Brazil’s recent oil block auction didn’t go […]

Producers Delay Boosting Vaca Muerta Output

(S&P Global Platts, 20.Nov.2019) — Three leading oil companies in Argentina, buoyed by the quality of the shale resources, are ready to ramp up oil and natural gas production in Vaca Muerta, but they are holding back until the economic and energy policies of the incoming government are more clear, […]

Exxon, Shell To Delay Vaca Muerta Production

(Seeking Alpha, Carl Surran, 20.Nov.2019) — Exxon Mobil and Royal Dutch Shell say they want to ramp up oil and natural gas production in Argentina’s Vaca Muerta shale play but are holding back awaiting clarity on the incoming government’s economic and energy policies. “The resource has great quality… the same […]

Some 140 Bolivian Industries Lacking Gas

(Energy Analytics Institute, Ian Silverman, 19.Nov.2019) — At least 140 industries – including large and medium sized ones in the Bolivian departments of La Paz, Cochabamba and Oruro – have been affected by a lack of natural gas supply resulting from damage to the Carrasco-Cochabamba (GCC by its Spanish acronym) […]

LatAmNRG Bolivia Briefs: Fuel Prices, New YPFB Head

(Energy Analytics Institute, Ian Silverman, 19.Nov.2019) — Heard on the street and LatAmNRG briefs related to Bolivia’s National Hydrocarbon Agency (ANH) establishing maximum fuel prices and appointment by Bolivia’s Interim President Jeanine Añez of José Luis Rivero as the new president of the country’s state oil and gas company Yacimientos […]

Petrobras Inks Deal To Divest Of Liquigás

(Petrobras, 19.Nov.2019) — Petrobras, following up on the press release of November 7, 2019, reports that it has signed today with Copagaz and Nacional Gás Butano a contract for sale of all its stake in Liquigás Distribuidora S.A. The sale price is R$ 3.7 billion, to be adjusted according to […]

Ecuador Names New Energy Minister

(Reuters, 19.Nov.2019) — Ecuadorean President Lenin Moreno on Tuesday named a close ally as the new energy minister as the Andean nation seeks to boost oil production and expand its mining sector. Civil engineer Jose Agusto replaces Carlos Perez, who resigned last week for personal reasons. Agusto has previously worked […]

Bolivia Names New YPFB President

(Argus, Patricia Garip, 19.Nov.2019) — Bolivia’s fragile interim government appointed Jose Luis Rivero Sandoval the new president of state-owned oil and gas company YPFB. Rivero, who replaces Oscar Barriga, is a former YPFB geologist who previously worked in Mexico, Venezuela and the US. His first task is to “recover gas […]

Venezuela Opposition In Citgo Deal

(Reuters, 19.Nov.2019) — Venezuela’s opposition has reached a deal with the custodians of a bond issued by state oil company PDVSA to prevent bondholders from seizing U.S. refining subsidiary Citgo, the bond’s collateral, until May, according to court filings and a source. The opposition-appointed PDVSA board, which is recognized in […]

Is Big Oil Wasting Its Time in The US Shale Patch?

(Oilprice.com, Nick Cunningham, 19.Nov.2019) — Growth in the U.S. shale industry is dramatically slowing down, with cash-strapped drillers slashing spending and scrapping rigs. At the same time, the oil majors are consolidating their position and moving forward with aggressive drilling plans. The business model for small and medium-sized drillers has […]

Petrobras Eyes Deep Offshore Shift In 2020

(Reuters, 19.Nov.2019) — Brazil’s state-owned oil firm Petroleo Brasileiro SA expects deep offshore areas to account for 88% of its exploration and production activities next year, up from 55% currently, an executive for the company said on Tuesday. The major shift to deep offshore areas will correspond with onshore exploration […]

Trinidad Gas Gap To Claim More Industries

(Argus, Lucien Chauvin, 18.Nov.2019) — Trinidad and Tobago’s industries regulator is warning that a natural gas shortage is slowly chipping away at the country’s industrial base. James Lee, executive director of the regulated industries commission, told Argus on the sidelines of a gas conference that the planned closure of a […]

LatAmNRG Bolivia Briefs: fuel shortage contingencies, Morales vows return

HOUSTON, TEXAS (By Energy Analytics Institute, Ian Silverman, 18.Nov.2019, Words: 324) — Heard on the street and LatAmNRG briefs related to Bolivia preparing emergency plan to import fuels, Evo Morales vows his return to Bolivia from Mexico, and repairs to the Carrasco-Cochabamba pipeline estimated to cost $200mn. Bolivia Prepares Emergency […]

Touchstone Reports Coho-1 Gas Test In Trinidad

(Touchstone, 18.Nov.2019) — Touchstone Exploration Inc. provides production test results for the Coho-1 well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago. As previously reported, the Coho-1 exploration well (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest) was spudded on August […]

CUPET To Host Licensing Round Workshop

(GEP, 18.Nov.2019) — As the official CUPET meeting and roadshow to mark Cuba’s first offshore bid round, the Cuba Energy, Oil and Gas conference will be returning at the end of the month (26-29 November) hosted by CUPET. Featured as part of this year’s four day conference programme, CUPET, alongside […]

Venezuela Using Invisible Oil Tankers To Skirt Sanctions

(Oilprice.com, Irina Slav, 16.Nov.2019) — U.S. sanctions on Venezuela have been squeezing the life out of its economy in an attempt to remove the government of Nicolas Maduro from power, but so far those sanctions haven’t been entirely successful. The reason: Venezuela is still exporting oil. So far in November, […]

Moody’s Ends YPF Review

(Moody’s, 15.Nov.2019) — Moody’s Investors Service completed a periodic review of the ratings of YPF Sociedad Anonima and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody’s reassessed the appropriateness of the ratings in the context of the […]

Total Reports 1st Oil From Iara Offshore Brazil

(Total, 15.Nov.2019) — France’s Total announced first oil from the Iara license (Block BM-S-11A), located in the deepwater Santos Basin pre-salt. This marks the start-up of the FPSO P-68, the first of the two floating production, storage and offloading units (FPSO) already launched and to be installed on the license. […]

GeoPark Announces All-Cash Deal With Amerisur

(GeoPark, 15.Nov.2019) — GeoPark Limited, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador announces the acquisition of Amerisur Resources Plc. Strategic Rationale: Capturing Scale GeoPark has a 17-year track record of creating value […]

BPTT reports Ginger natural gas discovery offshore Trinidad

CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 15.Nov.2019) — BP Trinidad & Tobago (BPTT) made a natural gas discovery with the Ginger exploration well, offshore Trinidad and Tobago. The well is expected to be completed by the end of Nov. 2019. The results of the Ginger well will continue to […]

Rosneft Head Sechin Attends BRICS Summit In Brazil

(Rosneft, 15.Nov.2019) — During the visit of the President of the Russian Federation Vladimir Putin to the BRICS summit in Brazil, the Chief Executive Officer of PJSC Rosneft Oil Company Igor Sechin as part of the Russian delegation took part in a number of bilateral meetings with the leaders of […]

Pemex Guarantees Timely Payroll Payment

(Pemex, 15.Nov.2019) — Petróleos Mexicanos urges the population to ignore fake press releases currently circulating in various news and social media, claiming alleged delays in the payment of the payroll and Christmas bonuses to the company’s workers are unfounded. Pemex guarantees that its processes in the human resources department, workers’ […]

ENAP Reports Record Production In Ecuador

(Energy Analytics Institute, Piero Stewart, 15.Nov.2019) — Chile’s state oil company ENAP reported record production of 23,089 barrels per day of crude oil in Ecuador. The production level — reached on 29 October 2019 — is the highest level reached by ENAP Ecuador since it commenced operations in the Andean […]

Shell And Partners Add Pre-salt Production

(Shell, 14.Nov.2019) — New, deep-water production has come online from the Brazilian pre-salt Santos Basin. Shell Brasil Petróleo Ltda. (Shell Brasil) and its consortium partners today announced the start of oil and natural gas production at the P-68 floating production, storage, and offloading unit (FPSO), located in BM-S-11A Concession in […]