(Petrobras, 5.Dec.2018) â Petrobras reports that its Board of Directors has approved, in a meeting held yesterday, the 2040 Strategic Plan and the 2019-2023 Business and Management Plan, prepared in an integrated manner. 2040 Strategic Plan The Strategic Plan brings a new vision of an integrated energy company, aligned with […]
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.
Petrobras’ Invitation 2040 Strategic Plan & 2019-2023
(Petrobras, 5.Dec.2018) â Petrobras informs that today, Dec. 5, 2018, the company will disclose its 2040 Strategic Plan and 2019-2023 Business and Management Plan. We are pleased to invite you to participate in our teleconference/webcast about the plan, with broadcast in Portuguese and simultaneous translation to English, as follows: December […]
Without Gas For Cremation, Even Dying Is A Struggle In Venezuela
(Reuters, Mayela Armas and Mariela Nava, 5.Dec.2018) â Angelica Vera of Venezuelaâs western state of Zulia planned to cremate her father’s remains after he died of cancer in November because hyperinflation has pushed the cost of funeral services beyond her financial reach. But the cemetery could not offer a cremation […]
ONGC Gets $32mn Pmt From PDVSA
(Reuters, Nidhi Verma, 4.Dec.2018) â Indiaâs Oil and Natural Gas Corp has received a payment of $32 million from Petroleos de Venezuela (PDVSA) as part of a settlement of outstanding dividend payments and said it now hopes that Venezuelaâs state oil firm will be regular in making further payments, a […]
ONGC Gets $32mn Pmt From PDVSA
(Reuters, 4.Dec.2018) â Indiaâs Oil and Natural Gas Corp has received a payment of $32 million from Petroleos de Venezuela (PDVSA) as part of a settlement of outstanding dividend payments and said it now hopes that Venezuelaâs state oil firm will be regular in making further payments, a senior ONGC […]
Sierra Oil & Gas Announces Agreement With Deutsche Erdoel AG
(Sierra, 4.Dec.2018) â Sierra Oil & Gas signed an agreement that will result in Sierra’s business being integrated with Deutsche Erdoel AG (DEA AG), an international independent exploration and production company headquartered in Germany. Upon completion of the transaction, Sierra will be integrated into Deutsche Erdoel MĂ©xico, a fully-owned subsidiary […]
DEA To Buy Mexico’s Sierra Oil & Gas And Stake In Zama Discovery
(DEA Deutsche Erdoel AG, 4.Dec.2018) â DEA Deutsche Erdoel AG has signed an agreement to acquire Sierra Oil & Gas, a leading independent Mexican oil and gas company. Sierra holds interests in a portfolio of six exploration and appraisal blocks in Mexico, including the world class Zama discovery. The transaction […]
Talos Energy Announces Start Of Zama Appraisal Program In Mexico
(Talos Energy Inc., 4.Dec.2018) â Talos Energy Inc. announced the Zama-2 appraisal well was spud on Thursday, November 29, 2018. The spudding of the Zama-2 well marks the commencement of the Zama discovery appraisal program, which will consist of three reservoir penetrations, including two wells and one sidetrack. The first […]
Sierra Oil & Gas Announces Deal With Germany’s Deutsche Erdoel AG
(Sierra Oil & Gas, 4.Dec.2018) â Sierra Oil & Gas signed an agreement that will result in Sierra’s business being integrated with Deutsche Erdoel AG (DEA AG), an international independent exploration and production company headquartered in Germany. âWe are very pleased to have secured an experienced and well capitalized industrial […]
CGX And Frontera Announce Strategic JV Agreement In Guyana
(Frontera Energy Corporation, 4.Dec.2018) â CGX Energy Inc. and Frontera Energy Corporation entered into a letter agreement to enable CGX to finance the drilling costs related to two shallow water offshore blocks in Guyana, currently 100% owned and operated by a subsidiary of CGX. The agreement also provides financial support […]
Petrobras Announces Reduction Of Significant Shareholding Interest
(Petrobras, 4.Dec.2018) â Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, informs that it was notified by BlackRock, Inc. that the latter has sold preferred shares issued by the company, and as of November 29, 2018 it manages shareholding interest less than 5% of […]
Wigton Windfarm To List On Jamaica Stock Exchange
(JIS, 3.Dec.2018) â The Wigton Windfarm (WWF) initial public offering (IPO) on the Jamaica Stock Exchange (JSE) is expected for March 2019. General Manager of Public-Private Partnerships and Privatisation Services at the Development Bank of Jamaica (DBJ) Denise Arana noted that the process is progressing smoothly and IPO activities will […]
MSU Energy Raises $250 Million, Secures Financing For 300 MW Expansion
(MSU Energy, 3.Dec.2018) â MSU Energy, a growing power generator with operations located in Argentina, announced significant developments to secure the ongoing expansion and conversion to combined cycle of its three power plants, which will increase total installed capacity to 750 MW. On November 30, 2018, MSU Energy closed a […]
Frontera Starts To Shut Down Production At Block 192 In Peru
(Frontera Energy, 3.Dec.2018) â Frontera Energy Corporation announces an update on Block 192 in Peru. On November 30, 2018, the company was notified by PetroperĂș S.A., the operator of the NorPeruano pipeline, of a force majeure event affecting a portion of the pipeline as a result of an attack at […]
Bynoe Says Guyana On Cusp Of Transformational Development
(Guyana Dept. Of Public Information, 3.Dec.2018) â Director, Department of Energy, Dr. Mark Bynoe this morning announced that United States oil giant ExxonMobil has made its 10th discovery offshore Guyana at the Pluma-1 well. This latest discovery has increased the estimated recoverable resource for the Stabroek Block to more than […]
Petrobras To Pay Interest On Own Capital
(Petrobras, 3.Dec.2018) â PetrĂłleo Brasileiro S.A (Petrobras) is paying today Interest on Own Capital (IOC), as defined in art. 9, sole paragraph of its Bylaws. The value to be distributed, totaling R$ 1,304,449,693.00, corresponds to a gross amount of R$0.10 per common or preferred share, based on shareholding positions as […]
Petrobras And Murphy Conclude Formation Of GOM Joint Venture
(Petrobras, 3.Dec.2018) â Petrobras, following up on the release disclosed on October 10, 2018, concluded the operation that has resulted in the formation of a joint venture company (JV), of which Murphy Exploration & Production Company has an 80% stake, while Petrobras America Inc (PAI) holds the remaining 20% stake, […]
ExxonMobil Makes 10th Guyana Find; Raises Stabroek Estimate To 5 Bln Bbls
(ExxonMobil, 3.Dec.2018) â ExxonMobil said today it made its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels. The resource estimate, up from the previous estimate of more than 4 billion oil-equivalent barrels, is a […]
Petrobras Executes New Contractual Deal Related To Eletrobras Debts
(Petrobras, 3.Dec.2018) â Petrobras, following up on the release published on Apr. 30, 2018, reports that today it executed contractual instruments related to a new agreement negotiated with Centrais ElĂ©tricas Brasileiras S.A. (âEletrobrasâ) and its subsidiaries Amazonas Energia (âAmEâ) e Amazonas Geração e TransmissĂŁo (âAmGTâ) for the resetting of guarantees […]
YPFB Initiates Sale Of Urea In El Alto
(Energy Analytics Institute, Ian Silverman, 1.Dec.2018) â Boliviaâs YPFB initiated the sale of urea in El Alto at a price of Bs 167 per 50 kilo bag. The state-owned oil company aims to approach the municipalities of La Paz to discuss ways to better educate the public about the commercial […]
Mexico’s AMLO Takes Office With Attack on Energy Overhaul
(Bloomberg, Nacha Cattan and Eric Martin, 1.Dec.2018) â After decades of waiting, Andres Manuel Lopez Obrador punctuated his arrival as Mexicoâs president with a bang, delivering a blistering attack on the energy industry overhaul passed under his predecessor and a broader excoriation of efforts to privatize industry. Speaking at the […]
India, Chile Discusses Ways To Enhance Cooperation In Trade, Energy
(The Hindu Business Line, 1.Dec.2018) ) â Several Indian companies, including Jindal Steel Works, TCS, Godrej, Dr Reddyâs, Wipro Technologies, Tata Motors, Bajaj Auto and Mahindra & Mahindra, are operating in the Chilean market. Prime Minister Narendra Modi met Chilean President Sebastian Pinera on the sidelines of the G20 summit […]
Colombia Temporarily Suspends Search For Electricaribe Buyer
(Reuters, 1.Dec.2018) â The government ordered the liquidation of the company – a subsidiary of Spainâs Gas Natural – in March 2017 because of service provision failures, after taking temporary control of Electricaribeâs assets. Colombia has temporarily suspended its search for a buyer for beleaguered energy company Electricaribe, President Ivan […]
Peru-Petro President Says 2018 Investments To Reach $505 Million
(Energy Analytics Institute, Ian Silverman, 1.Dec.2018) â Investment in exploration and exploitation of hydrocarbons will reach $505 million in 2018, up 3.9% compared to $486 million recorded in 2017, reported online media El Comercio, citing comments from Peru-Petro President Seferino YesquĂ©n. However, these figures are well below investments of $1.879 […]
Bolivia Eyes 30% Increase In Hydrocarbon Subsidy In 2019
(Energy Analytics Institute, Ian Silverman, 1.Dec.2018) â Bolivia envisions a 30% increase in its hydrocarbon subsidy due to the rise in the price of oil in international markets. The higher oil prices and subsequent subsidy under Boliviaâs General State Budget for 2019, also known as PGE-2019, will result in increased […]
Petrotrin Settles Debts, Fights Sabotage
(Trinidad and Tobago Newsday, Carla Bridglal, 1.Dec.2018) â Termination and other exit payments owed to Petrotrinâs workers as part of a $2.7 billion compensation settlement have finally started appearing in bank accounts and will continue to be processed throughout the weekend. The disbursement of funds began on Friday â also […]
Cosan Limited Announces Commencement Of Tender Offer
(Cosan Limited, 30.Nov.2018) â Cosan Limited commenced a tender offer to purchase up to U.S.$100,000,000 of its Class A common shares, or the shares, at (i) prices specified by the tendering shareholders of not greater than U.S.$9.30 nor less than U.S.$8.88 per share or (ii) at the purchase price determined […]
OPDEnergy To Build Solar Photovoltaic Plants In Spain, Chile And Mexico
(OPDEnergy, 30.Nov.2018) â The multinational corporation OPDEnergy – specializing in the production of energy assets and in the management of all related phases (development, financing, construction, operation and maintenance) – will build 500 MW distributed in various photovoltaic solar projects located in Spain, Chile and Mexico next year. The investment […]
YPF Involved In New Oil Spill In Santa Cruz
(Energy Analytics Institute, Aaron Simonsky, 30.Nov.2018) â Argentinaâs state oil company YPF has been involved in yet another oil spill. The most recent incident occurred at the Los Perales reservoir, the main oil field for the oil company in Santa Cruz, in an area called Loma CUI 5, reported online […]
Brazil Withdraws Offer To Host UN Climate Change Conference
(AP, 30.Nov.2018) â Brazil has withdrawn its offer to host a large United Nations conference on climate change next year, the foreign ministry said on Wednesday, leading environmental groups to question the governmentâs commitment to reducing carbon emissions. Brazil pulled its offer to host the 2019 climate change conference because […]
New Rules At Panama Canal Expected To Boost U.S. LNG Industry
(Houston Chronicle, Sergio Chapa, Staff writer 30.Nov.2018) â New rules allowing a greater number of liquefied natural gas tankers to pass through the Panama Canal per day are expected to boost the development of the multibillion dollar industry along the U.S. Gulf Coast. The rules went into effect in October. […]
Frontera Energy Oil Operations In Peru Threatened By Pipe Rupture
(Reuters, Marco Aquino, 30.Nov.2018) â Canadaâs Frontera Energy Corp could be forced to halt operations in Peruâs largest oil block if a key pipeline ruptured amid indigenous protests is not promptly repaired, state oil company Petroperu said on Friday. The pipeline, in a remote corner of Peruâs Amazon, was attacked […]
Shale Gluts, Ship Rules Make Heavy Sweet Oil An Unlikely Star
(Bloomberg, Serene Cheong and Dan Murtaugh, (30.Nov.2018) â Thereâs a rising star in the oil world, and itâs heavy and sweet. Dense, low-sulfur oil, known in industry parlance as heavy sweet crude, is fetching increasingly stronger prices relative to benchmark lighter grades. For example, Angolaâs Dalia traded at just 10 […]
Normal Heavy Oil Extractions Lift 80% Water, 20% Oil
(Energy Analytics Institute, Piero Stewart, 29.Nov.2018) â Normal procedures at heavy oil wells produce water extraction at greater proportions than crude oil, announced an official at Petroamazonas. To be precise, figures from Petroamazonas reveal that 80% of the extraction corresponds to water and 20% to oil, reported online media El […]
Nucor buys Mexican castings co. with facility in Guadalajara
(Energy Analytics Institute, Jared Yamin and Ian Silverman, 29.Nov.2018) â Nucor Corporation announced it will acquire Corporacion POK, S.A. de C.V., which produces complex castings and precision machined products used by the oil and gas, mining and sugar processing industries. POK, founded in 1894, is a fully integrated precision castings […]
Pemexâs Oil And Gas Output Fall Sequentially In October 2018
(Energy Analytics Institute, Jared Yamin, 29.Nov. 2018) âPemex reported sequential declines in both crude oil, condensates and natural gas production in October 2018. Pemex, as the state oil company is known, reported crude oil + condensate production of 1,986 thousand barrels per day (Mb/d) in October 2018, down sequentially by […]
Petrobras Reports On End Of Special Committee Activities
(Petrobras, 29.Nov.2018) â Petrobras reports that its Board of Directors approved yesterday the end of the Special Committee set up in December 2014 to provide a reporting line for the independent investigations conducted by Trench, Rossi e Watanabe Advogados and Gibson, Dunn & Crutcher LLP. Likewise, it also approved the […]
Petrobras Announces Adjustment Of Diesel Sale Price
(Petrobras, 29.Nov.2018) â Petrobras, following up on the release disclosed on October 29, 2018 informs that, due to the methodology established in the National Petroleum Agency (ANP) Resolution no. 743 of 8/27/18, the average price of diesel will be R$1.7984 per liter in the period from November 29, 2018 to […]
Perenco Acquires Three Fields In The Campos Basin From Petrobras
(Petrobras, 28.Nov.2018) â Petrobras signed with Perenco the contracts for the full sale of Petrobrasâ stake in the fields of Pargo, Carapeba and Vermelho, the so-called Polo Nordeste, located in shallow waters off the coast of Rio de Janeiro state. The Assets The Pargo field was discovered in 1975, and […]
Petrobras Sales Stake In Shallow Campos Fields
(Petrobras, 28.Nov.2018) â Petrobras reports that it has signed today with Perenco the contracts for the full sale of Petrobrasâ stake in the fields of Pargo, Carapeba and Vermelho, the so-called Polo Nordeste, located in shallow waters off the coast of Rio de Janeiro state. The assets The Pargo field […]
PetroEcuador To Open Envelopes For Import Of 3 MMBbls Of Premium Diesel
(Energy Analytics Institute, Piero Stewart and Ian Silverman, 28.Nov.2018) â EP PetroEcuador will open envelopes related to the importation of 3,120,000 barrels plus or minus (+/-) 2% of Premium Diesel on Monday, December 3, 2018 at 12 noon. Approximately 38 companies qualified for the bidding process and were invited to […]