ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

Petronas Enters SPA with Petrobras for Stake in Tartaruga Verde Field

(Petronas, 26.Apr.2019) — Petronas through its subsidiary, Petronas Petróleo Brasil Ltda. (PPBL) entered into a Sale and Purchase Agreement (SPA) with Petróleo Brasileiro S.A. (Petrobras), Brazil’s petroleum multinational corporation, for a 50% equity in the Tartaruga Verde field (BM-C-36 Concession) and its facilities, Module III of the Espadarte field, both […]

ANH President Discusses Projects At Colombia’s Escuela Superior de Guerra

(Energy Analytics Institute, Aaron Simonsky, 26.Apr.2019) — Colombia National Hydrocarbon Agency President Luis Miguel Morelli presented “Offshore Exploration and Production Projects” during a discussion at Colombia’s Military School “Escuela Superior de Guerra”. ***

IDB Lends $600 Million To Aid Colombia Improve Energy Matrix

(Renewables Now, 26.Apr.2019) — The Inter-American Development Bank (IDB) announced on Thursday it will give Colombia a USD-600-million (EUR 538.9m) loan to diversify and improve its energy matrix and integrate non-conventional renewables such as wind, solar and biogas. The IDB loan has a 19-year term, with a 5.5-year grace period and […]

Finnish Refiner Neste Hit By Venezuela Oil Sanctions

(Reuters, Tarmo Virki, 26.Apr.2019) — Finnish biofuel producer and oil refiner Neste reported a bigger than expected fall in quarterly profit on Friday, with U.S. sanctions against Venezuela having curbed crude oil supply to its Nynas joint venture. First-quarter core operating profit fell 6 percent to 378 million euros ($421 […]

Argentina Exported An Average 6 MMcm/d To Chile During 1Q:19

(Energy Analytics Institute, Aaron Simonsky, 25.Apr.2019) — Argentina shipped an average of almost 6 million cubic meters per day (MMcmd/) of natural gas to Chile during the first quarter of 2019, while a peak of 9.6 MMcm/d was achieved in March 2019, Argentina’s Energy Secretariat announced on 25 April 2019 […]

Venezuela’s Oil Industry Implosion Reaches Chevron

(Oilprice.com, Tsvetana Paraskova, 25.Apr.2019) — Massive blackouts in Venezuela in March and April have drastically reduced oil production at Chevron’s biggest oil joint venture in the country, Bloomberg reported on Thursday, citing data that it had compiled from company sources. Chevron holds a 30-percent stake in Petropiar, a joint venture […]

Guyana’s Latest Discovery Similar To Nearby Liza, Hess Says

(Seeking Alpha, Carl Surran, 25.Apr.2019) — Hess says Guyana’s latest offshore deepwater discovery contains oily fluids similar to those of the initial Liza discovery, which is being readied for first production early next year. Yellowtail, the 13th discovery at Guyana’s deepwater Stabroek block by a partnership which also includes Exxon […]

Guyana Oil Find Spurs Exploration Campaigns Among Neighbors

(Amsterdam News, Bert Wilkinson, 25.Apr.2019) — As Guyana, the Caribbean Community’s largest and most resource-rich nation, prepares to become an oil producer by the end of this year, American supermajor ExxonMobil is preparing to add a fourth drilling ship to its offshore fleet given the humongous amount of oil it […]

TGS Files 2018 Annual Report With SEC On Form 20-F

(TGS, 25.Apr.2019) — Transportadora de Gas del Sur S.A. (TGS) filed its annual report on Form 20-F for the fiscal year ended December 31, 2018 with the U.S. Securities and Exchange Commission (SEC). The 2018 Annual Report can be accessed by visiting the company’s website at www.tgs.com.ar as well as […]

Petrobras Inks Three Deals To Divest Of Assets Worth US$10.3 Billion

(Petrobras, 25.Apr.2019) — Petrobras informs that today it executed three sale and purchase agreements to sell assets in the total amount of US$ 10.3 billion (about R$ 40 billion). In 2019, considering the signed transactions and the closed one, the total amount of asset sales is US$ 11.3 billion. “Today […]

Asia

CNOOC Limited Announces Key 1Q:19 Operational Statistics

(CNOOC Ltd. 25Apr.2019) — CNOOC Limited announced its key operational statistics for the first quarter of 2019. The Company achieved a total net production of 120.1 million barrels of oil equivalent (“BOE”) for the first quarter of 2019, remaining stable compared to the same period last year. Production from offshore […]

Newpark Resources Reports 1Q:19 Results, GOM Update

(Newpark, 25.Apr.2019) — Newpark Resources, Inc. today announced results for its first quarter ended March 31, 2019. Total revenues for the first quarter of 2019 were $211.5 million compared to $247.7 million for the fourth quarter of 2018 and $227.3 million for the first quarter of 2018. Net income for […]

Petrobras Sets Aside R$1.3bn For Litigation Involving Sete Brasil

(Petrobras, 25.Apr.2019) — Petrobras informs, within its ongoing process of assessment of contingencies, that it will provision R$ 1.3 billion as a result of the current stage of litigation involving the company Sete Brasil. The company, which is a victim of the facts verified by Operation Car Wash, continues defending […]

Petrobras Clarifies News Of Agreement With Lava-Jato Task Force

(Petrobras, 25.Apr.2019) — Petrobras informs that it received the Official Letter No. 141/2019/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No 141/2019/CVM/SEP/GEA-1 “Dear Executive Officer, We refer to the Relevant Fact published by the issuer on 09-27-2018, the Market Communication of 01-30-2011, and the report published on 03-13-2019 by the […]

DaVita Eyes Using 100 Pct Renewable Energy By 2022

(DaVita, 25.Apr.2019) — By 2022, DaVita Inc. expects to use 100 percent renewable energy. The company has contracted with Longroad Energy on two virtual power purchase agreements (PPAs) facilitating the development of clean energy projects in Texas. Together, DaVita’s share of these projects will generate as much renewable energy as […]

LatAmNRG Venezuela Briefs: Oil Worker March, Maduro Denounces Citgo Grab

(Energy Analytics Institute, Piero Stewart, 24.Apr.2019) — Heard on the street and LatAmNRG briefs related to a planned oil and gas sector march slated for 1 May 2019 in Venezuela and Nicolás Maduro denouncing what he calls an illegal appropriation of Citgo by the Venezuelan opposition under the watchful gaze […]

Canadian Solar To Divest Interest In Brazilian Solar Project To Nebras Power

(Canadian Solar, 24.Apr.2019) — Canadian Solar Inc., one of the world’s largest solar power companies, announced today the signing of an agreement for the sale of its 80% interest in a 482.6 MWp portfolio of contracted solar projects in Brazil to Nebras Power Investment Management B.V., a Dutch affiliate of […]

Petrobras Names New Chief Financial And Investor Relations Officer

(Petrobras, 24.Apr.2019) — Petrobras informs that its Board of Directors, at a meeting held today, elected Ms. Andrea Marques de Almeida as the Company’s Chief Financial and Investor Relations Officer. Andrea is scheduled to take office on 05/02/2019. Andrea Almeida is a production engineer, with an MBA in Finance from […]

Shell Announces Deep-Water GOM Discovery At Blacktip Prospect

(Shell, 24.Apr.2019) — Shell Offshore Inc. (“Shell”), a subsidiary of Royal Dutch Shell plc, today announced a significant discovery at the Blacktip prospect in the deep water U.S. Gulf of Mexico. Evaluation is ongoing and appraisal planning is underway to further delineate the discovery and define development options. “Blacktip is […]

Petrobras Says BOD Approves Voluntary Severance Program

(Petrobras, 24.Apr.2019) — Petrobras reports that its Board of Directors has approved a new Voluntary Severance Program – PDV. Employees of Petrobras holding who are retired through the INSS (Brazilian Social Security Institute) by June 2020, when the enrollment ends, will be eligible. The purpose of the Program is to […]

Occidental Makes $38bn Rival Bid for Anadarko

(WoodMac, 24.Apr.2019) — Occidental Petroleum today put forward a rival bid to acquire Anadarko Petroleum for US$38 billion, surpassing Chevron’s US$33 billion offer earlier this month. Occidental proposes paying US$76 per share, roughly 20% more than Chevron‘s earlier offer of US$65 per share. Zoe Sutherland, corporate analyst at Wood Mackenzie, […]

Petrobras Updates On Auction Of Transfer Of Rights Excess Volumes

(Petrobras, 24.Apr.2019) — Petrobras following up on the release dated 04/09/2019, informs that, on 04/18/2019, the Resolution of the National Council of Energy Policy (CNPE) No. 6 was published, setting forth the parameters for the bidding of the Transfer of Rights Agreement excess volumes under the Production Sharing regime, being […]

Petrobras Appoints New Executive Manager Over IR Department

(Petrobras, 24.Apr.2019) — Petrobras informs that its Board of Directors, at a meeting held today, approved the appointment of Ms. Carla Dodsworth Albano Miller to the position of Investor Relations Executive Manager. Carla Albano holds a bachelor’s degree in economics from PUC-Rio, with a master’s degree in Business and Finance […]

Reuters Corrects Story Saying Venezuela Is Avoiding U.S. Sanctions by Funneling Oil Sales Through Russia

(The Moscow Times, 24.Apr.2019) — Reuters has corrected a story it published on April 18 saying Venezuela is funneling cash flow from oil sales through Russian state energy giant Rosneft to evade U.S. sanctions after Rosneft threatened to ban the international news agency from operating in Russia. The story, datelined […]

Venezuela’s April Crude Exports Rise To 955,000 b/d After Blackouts

(S&P Global Platts, 24.Apr.2019) — Venezuela’s state-owned PDVSA is set to export 955,000 b/d of crude in April, up from 843,000 b/d in March, when several blackouts crippled export infrastructure, according to the company’s monthly export plan. Asian refiners are taking 786,000 b/d, or 82% of April’s shipments, up from […]

Ecuador President Mandates Merger of Petroamazonas And Petroecuador

(Energy Analytics Institute, Piero Stewart, 24.Apr.2019) — Ecuador’s President Lenin Moreno mandated on 24 April 2019 initiation of a process to merge oil companies Petroamazonas and Petroecuador. The deadline to comply with this process will be until 31 December 2020, reports online media El Comercio. *** © Energy Analytics Institute […]

PDVSA Says Morichal Electric Generation Plant Back In Service

(Energy Analytics Institute, Piero Stewart, 24.Apr.2019) — PDVSA’s Carabobo Division of the Hugo Chávez Orinoco Oil Belt, or Faja, started up the TG200 turbogenerator at the Morichal Electric Generation Plant, the state oil company announced 24 April 2019 in an official statement. The plant will incorporate 10 megawatts (MW) of […]

New Chief Vows To Keep Petrobras Free From Political Meddling

(Ft.com, Bryan Harris and Andres Schipani, 24.Apr.2019) — Castello Branco knows Brazil oil group needs to show autonomy to regain investor trust. Roberto Castello Branco, the new chief of Brazilian oil company Petrobras, was thousands of kilometres away from his desk, at a conference in Chicago, when he faced his […]

Shell Strikes Big Oil In Blacktip Well Of Gulf Of Mexico

(Reuters, 24.Apr.2019) — Royal Dutch Shell’s U.S. unit said on Wednesday that it had made one of its biggest oil discoveries in the Blacktip deepwater well in the U.S. Gulf of Mexico. Blacktip, operated by Shell and co-owned by U.S. oil giant Chevron Corp, Equinor ASA and Repsol, is the […]

Canadian Solar To Sell 483-MW Project Portfolio In Brazil

(Renewables Now, 24.Apr.2019) — Canadian Solar Inc has reached a deal to sell an 80% stake in a 482.6-MWp portfolio of contracted Brazilian solar projects that are in advanced stages of development. The buyer is Nebras Power Investment Management BV, a wholly-owned Dutch unit of Doha-based Nebras Power Q.P.S.C., which […]

Debt Ghosts Rattle Argentina’s Push For Shale Greatness

(Bloomberg, Alix Steel and Jonathan Gilbert, 24.Apr.2019) — To replicate the kind of shale boom taking place in America’s Permian Basin, Argentina first needs to convince investors it can avoid another financial crisis. Production is creeping up in Argentina’s Vaca Muerta formation, where about 1,000 wells have been drilled since […]

PDVSA Says Oilfield Power Generator Activated After Blackouts

(Reuters, 24.Apr.2019) — Venezuela’s state-run oil company PDVSA on Wednesday said it had activated a power generator that would allow for an increase in crude oil output, after a string of nationwide blackouts disrupted operations in the country’s heavy-crude oil Orinoco belt. The company said in a statement the generator […]

Venezuela Imports Crude For The First Time In Five Years

(Bloomberg, Lucia Kassai, 24.Apr.2019) — Oil production in Venezuela has dipped so low that the owner of the world’s largest reserves is importing crude for the first time in five years. The nation’s output fell below 1 million barrels a day to a 16-year low in March, amid rolling blackouts […]

Bolivia Gas Production: “Increasingly Smaller, Increasingly Expensive”

(Energy Analytics Institute, Ian Silverman and Piero Stewart, 23.Apr.2019) — Bolivia’s production of natural gas reached 36 million cubic meters per day (MMcmd/) in March 2019, one of the lowest levels in the last 10 years, Mauricio Medinaceli, an expert on the subject, wrote in his blog titled “Natural Gas […]

Talos Energy To Announce 1Q:19 Results May 8, 2019

(Talos, 23.Apr.2019) — Talos Energy Inc. intends to release first quarter 2019 results for the period ended March 31, 2019 on Wednesday, May 8, 2019 after the U.S. financial market closes. In addition to this release, Talos Energy will host a conference call, which will be broadcast live over the […]

Murphy Oil Dives Into Deepwater GOM With $1.6bn LLOG Bluewater Deal

(WoodMac, 23.Apr.2019) — Murphy Oil Exploration is poised to buy several deepwater Gulf of Mexico assets from LLOG Exploration for a total of US$1.625 billion, split into a US$1.375 billion cash payment and US$250 million in contingent payments. Most of the interest in the acquired assets are owned by LLOG […]

Mexico’s 1P Reserves Down Substantially Versus 20 Years Ago

(Energy Analytics Institute, Jared Yamin, 23.Apr.2019) — Mexico’s combined proved crude oil and natural gas reserves (1P) have dwindled down to 7.9 billion barrels of oil equivalent (BOE) as of January 2019 compared to the slightly more than 34 billion BOE on record in 1999. The most current combined reserve […]

Argentina’s Vaca Muerta Formation Produces 35% Of Country’s Natural Gas

(Energy Analytics Institute, Aaron Simonsky, 23.Apr.2019) — Argentina’s Vaca Muerta formation currently accounts for close to 35% of Argentina’s natural gas production and 15% of the South American country’s crude oil production, announced Neuquén Governor Omar Gutiérrez. In the last three years, unconventional oil production has grown 150% while gas […]

SAExploration Announces New $25mn Ocean-Bottom Marine Project In Brazil

(SAExploration, 23.Apr.2019) — SAExploration Holdings, Inc. (SAE) announced a new deep-water ocean-bottom marine project award in Brazil for a major international oil company valued at approximately $25 million. Services to be provided will include data acquisition utilizing autonomous ROV-deployed nodal recording technology in water depths up to 2,000 meters. The […]

Phoenix Global Announces Departure Of CEO Anuj Sharma

(Phoenix, 23.Apr.2019) — Phoenix Global Resources plc announces that Mr. Sharma has served a notice on the company, which the company is treating as a notice terminating his employment in accordance with his service agreement and resigning from his position as CEO and a director of the company with immediate […]

On South America’s Largest Solar Farm, Chinese Power Radiates

(Reuters, Cassandra Garrison, 23.Apr.2019) — In an arid, lunar-like landscape in the sunny highlands of northern Argentina, South America’s largest solar farm is rising, powered by funding and technology from China. Local officials said they had sought help at home, the United States and Europe without success. Potential lenders and […]

Pemex Head Says Fuel Theft In April 2019 Down 98% Since November 2018

(Energy Analytics Institute, Jared Yamin, 22.Apr.2019) — The illegal theft of combustible in Mexico is down 98% since November, announced Pemex General Director Octavio Romero Oropeza on 22 April 2019 during a conference held in Mexico City. Illegal activity related to the theft of gasoline was 2,000 barrels per day […]

Petrobras Says Daily Gasoline And Diesel Prices Available On Website

(Petrobras, 22.Apr.2019) — Petrobras informs that as of today, the daily prices of gasoline and diesel in each of its points of sale throughout the national territory are available on its website www.petrobras.com.br. ***

LatAmNRG Bolivia Briefs: Ammonia-Urea Production, NPK Fertilizer

(Energy Analytics Institute, Ian Silverman, 22.Apr.2019) — Heard on the street and LatAmNRG briefs related to Bolivia and rising production in 2019 from the Cochabamba ammonia-urea complex and the new challenge facing the land-locked country in regards producing NPK fertilizer. Bolivia Says Cochabamba Ammonia-Urea Production To Rise In 2019 (Energy […]

Bolivia Eyes Exporting LNG Through Argentina, Importing Crude

(S&P Global Platts, 22.Apr.2019) — Bolivia is looking at exporting natural gas globally through liquefaction terminals to be built in Argentina, and to buy crude from its southern neighbor, Bolivian President Evo Morales said Monday, a move that would compensate for dwindling sales of its main export to Argentina and […]

Mexico’s Oil Production In April 2019 Down 1% M-O-M, Down 10% Y-O-Y

(Energy Analytics Institute, Jared Yamin, 22.Apr.2019) — Mexico’s oil production continues to trend downward, according to recent data revealed by government officials. Oil production is currently averaging around 1.685 million barrels per day (MMb/d) in April 2019, down slightly 1% from 1.694 MMb/d in March 2019 and down 10% compared […]

Africa
Asia

McDermott Awarded Petrochemicals Contract In Kuwait

(McDermott, 22.Apr.2019) — McDermott International, Inc. and Kuwait Integrated Petroleum Industries Company (KIPIC), a subsidiary of Kuwait Petroleum Corporation (KPC), today announced that KIPIC has awarded McDermott a technology contract for the basic engineering, technology license and catalyst for an integrated Low Pressure Recovery (LPR) and Olefins Conversion Technology (OCT) […]

Oil Cos, Service Providers Establish Footholds In Guyana

(Stabroek News, 22.Apr.2019) — Since ExxonMobil’s oil discoveries offshore Guyana, a number of global oil majors and oil support companies have established their presence here, with local offices and other facilities secured through leases or acquisitions. After its initial 2015 find and subsequent major discoveries, ExxonMobil announced plans to be […]

Gazprom Eyeing Gas Project In Argentina

(TASS, 22.Apr.2019) — Gazprom considers the possibility of acquiring a stake in one of the key producing assets of Argentina’s YPF, the company said on Monday. “Gazprom Group is considering the possibility of implementing projects in Argentina, including those related to the development of unconventional gas reserves. We are currently […]

Why The Argentinian Shale Boom Isn’t Taking Off

(Oilprice.com Irina Slav, 22.Apr.2019) — The Vaca Muerta shale play in Argentina has been a hot spot in global oil and gas for the past few years after exploration suggested it could yield oil and gas at competitive production costs, offering Argentina the chance to emulate the U.S. shale boom. […]