ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

Petrobras Divests Of Stake In 34 Onshore Fields In Rio Grande Do Norte

(Petrobras, 28.Nov.2018) — Petrobras announces that its Board of Directors approved yesterday the full sale of its stake in 34 onshore production fields, located in the Potiguar Basin, in Rio Grande do Norte state, to the company 3R Petroleum. The Assets The 34 concessions are mature fields in production for […]

Ecuador Seeks To Extract 49% More Oil From ITT

(Energy Analytics Institute, Piero Stewart, 28.Nov.2018) — The government of Ecuador intends to extract 49% more oil from the Ishpingo-Tambococha-Tiputini (ITT) block in 2019, according to data from Petroamazonas EP. The figure was reported by online media El Universo, which cited Ecuador’s Minister of Energy and Non-Renewable Natural Resources Carlos […]

LatAmNRG Panorama 28.Nov.2018: Ecuador, Mexico, Peru, Venezuela

(Energy Analytics Institute, Jared Yamin and Piero Stewart, 28.Nov. 2018) — Heard on the street and other LatAmNRG briefs from Mexico, OPEC producers Ecuador and Venezuela, and Peru. Heard On The Street And Briefs Saudi Arabia Boosting Oil Output As Venezuela’s Falls Saudi Arabia is said to have slightly boosted […]

Time For Texas To Share Renewable Energy Expertise With Mexico

(Caller Times, Carlos Torres-Verdin, 28.Nov.2018) — Ignore the incendiary rhetoric coming out of Washington D.C., the new political climate south of the border has never been more favorable, especially toward green energy providers. And the U.S., Mexico and ultimately Texas, have a lot to gain through greater and mutually beneficial […]

Venezuela Makes Multimillion-dollar Payment To Retain Citgo

(Houston Business Journal, Olivia Pulsinelli, 28.Nov.2018) — Houston-based refiner Citgo Holding Inc. will remain owned by Venezuela’s state-run oil company, Petróleos de Venezuela SA, if PDVSA follows through with the terms of a settlement. According to multiple reports, the settlement will resolve an arbitration claim from Crystallex International Corp., a […]

Cuba And Bolivia To Cooperate In Peaceful Use Of Nuclear Energy

(Prensa Latina, 28.Nov.2018) — Cuba and Bolivia on Wednesday signed an interagency agreement to strengthen, facilitate and expand the opportunities for technical, scientific and academic cooperation, and to develop the peaceful applications of nuclear energy. The document was penned by the Cuban deputy minister for Science, Technology and Environment, Jose […]

The Social Impact Of G20 Argentina: From Schools To Cooperatives

(G20.org, 28.Nov.2018) — Over 15 social enterprises have participated this year in G20 events. And around 1,000 students in 9 cities across Argentina took part in the Model G20, a simulation exercise that recreates the forum’s dynamics. With a people-centred vision, the Argentine G20 presidency has promoted several projects to […]

Argentina Reports Rise In Petroleum, Gas Output

(Energy Analytics Institute, Aaron Simonsky, 28.Nov. 2018) — Argentina reported total petroleum production of 498 thousand barrels per day (Mb/d) in October 2018, up 1.8% year-over-year compared to 489 Mb/d in October 2017. Unconventional petroleum production (shale + tight) rose 15% in October 2018 compared to October 2017, the country’s […]

Petrobras Reports Oil And Natural Gas Output For October

(Petrobras, 27.Nov.2018) — Petrobras informs that in October its total production of oil and gas, including natural gas liquids (NGL), was 2.66 million barrels of oil equivalent per day (boed), 2.54 million boed produced in Brazil and 119 thousand boed abroad. The total operated production of the company (Petrobras and […]

Chet Morrison Completes EPCIC Project Offshore Trinidad And Tobago

(Chet Morrison and DeNovo, 27.Nov.2018) — Chet Morrison Contractors LLC has successfully completed the fabrication, installation and mechanical completion of: — A Conductor Supported Platform (CSP) — Offshore subsea pipeline and platform tie-in — Pipeline shore crossing and onshore connection for gas processing — Final pre-commissioning and commissioning of integrated […]

Mexico’s Oil Crisis Deepens

(Oilprice.com, Irina Slav, 27.Nov.2018) — Mexico’s state oil company Pemex said it produced an average 1.76 million bpd of crude in October, down 7 percent from October last year, Reuters reports, citing data released by the company. This is also one of the lowest monthly production rates since 1990 when […]

Madalena Inks Deal For Palmar Largo Concession With Formosa Province

Peru And Chile Committed To Electrical Interconnection

Petrobras Updates On CARF Decision Related To Remittances For Vessel Chartering

(Petrobras, 27.Nov.2018) —Petrobras reports that today the Administrative Board of Tax Appeals (CARF) issued a decision against the company in administrative tax proceedings on a total estimated amount of R$ 7 billion, arising from tax assessments drawn up by the Federal Revenue Service for the collection of CIDE (base year […]

Ecopetrol Announces Redemption Of International Bond Issued In 2009

(Ecopetrol, 27.Nov.2018) — Ecopetrol S.A. provided a Notice of Redemption to the Noteholders of its 7.625% Notes due 2019 issued on July 23, 2009 in the aggregate principal amount of $1,500 million and with an original maturity date of July 23, 2019. The Redemption Date will be December 27, 2018. […]

Petrobras Offers Clarification Related To Business and Management Plan

(Petrobras, 27.Nov.2018) — Petrobras reports that it has received the Letter No. 1936/2018 -SAE, which requests the following clarification: Letter no. 1936/2018 -SAE “Dear gentlemen, In the news published by Valor Econômico newspaper on 11/27/2018, entitled “Petrobras evaluates 2019-2023 plan,” among other information, it is stated that Petrobras’ BMP 2019-2023 […]

Ecopetrol Eyes Investments Of $3.5-$4 Billion In 2019

(Ecopetrol, 27.Nov.2018) — Ecopetrol S.A. reported that in 2019 the Ecopetrol Business Group (GEE) expects to invest between $3.5 and $4billion, up 16% to 33% over the projected 2018 figure. The plan approved by the Board of Directors aims to ensure the company’s strategy of growth and consolidation, with efficient, […]

Ecopetrol Reveals Highlights Of Investment Plan 2019

(Ecopetrol, 27.Nov.2018) —The Ecopetrol Business Group (GEE) expects investment in 2019 of $3.5 billion to $4 billion, up 16% to 33% over the projected 2018 figure, according to Colombia’s state oil company Ecopetrol. Investment Plan Highlights — The investment plan approved by the Board of Directors focuses on maintaining the […]

President Energy Spuds Third Development Well In Argentina

(Energy Analytics Institute, Aaron Simonsky, 27.Nov. 2018) — President Energy has spud the third development well at the Puesto Flores/Estancia Vieja Concession in Rio Negro Province, Argentina. The PFO 1005 development well at the Puesto Flores field, which is the last of the recent three well sequence, has now been […]

President Energy Updates On Argentine Drilling Program

(President Energy, 27.Nov. 2018) — President Energy provided an update on its drilling program at the Puesto Flores/Estancia Vieja Concession, Rio Negro Province, Argentina. President is operator and holds a 90% interest in the Puesto Flores/Estancia Vieja Concession, while its partner EDHIPSA, the Provincial energy company, holds the remaining 10% […]

Oil Expert Plaints Adverse Scenario For Bolivia

(Energy Analytics Institute, Ian Silverman, 27.Nov.2018) — Oil expert Mauricio Medinaceli painted an adverse scenario for Bolivia due to the country “doing little or nothing” to replace production in recent years. Besides our natural gas reserves, Bolivia has various weakness including but not limited to the following: poor exploratory management, […]

$1.4 Billion Deal Allows Venezuela To Keep Citgo’s Three U.S. refineries

(Houston Chronicle, Sergio Chapa, 26.Nov.2018) — A payment on a $1.4 billion arbitration award to a Canadian gold mining company is allowing Venezuela to keep ownership of Citgo Petroleum’s three U.S. refineries — at least through January. The Venezuelan government recently paid Toronto-based Crystallex International Corp. $425 million as part […]

Venezuela Hangs On To Citgo After Big Debt Payment

(Fox Business, Mike Obel, 26.Nov.2018) — Venezuela managed to retain ownership of Citgo, the big U.S. refining and gasoline marketing company that is one of its few remaining sources of hard currency, according to a report. In August, Canadian mining company Crystallex International got a court order authorizing the sale […]

Vista Preps First Two Shale Oil Pilots In Vaca Muerta

(S&P Global Platts, 26.Nov. 2018) — Vista Oil & Gas plans to invest $157.4 million in its first pilot projects in Vaca Muerta, betting on the Argentinian shale play for oil and natural gas production growth. The Mexico City-based company got a 35-year production license for a block in the […]

UAE Urges Brazil To Remove It From ‘Tax Haven’ List

(Arabian Business, 26.Nov. 2018) — UAE says to expand its multi-billion dollar investments in Brazil as long as it’s no longer labeled a tax haven by Latin America’s largest economy The UAE is willing to expand its multi-billion dollar investments in Brazil as long as it’s no longer labeled a […]

LatAmNRG Chart Analysis: Venezuela’s R/P Rises As Oil Output Plunges

(Energy Analytics Institute, Pietro D. Pitts, 24.Nov. 2018) — Venezuela is suffering a complete meltdown across all sectors. The Venezuelan oil sector, which generates upwards to 95% of the country’s foreign currency revenues, is in a precarious state to say the least as oil output continues its downward trend. Interesting […]

Rosneft’s Sechin Flies To Venezuela, Rebukes Maduro Over Oil Shipments

(Reuters, Alexandra Ulmer and Marianna Parraga, 24.Nov.2018) — The head of Russian oil company Rosneft, Igor Sechin, flew to Caracas this week to meet Venezuelan President Nicolas Maduro and complain over delayed oil shipments designed to repay loans, two sources briefed on the conversation said on Saturday. The visit, which […]

Petrotrin Hospital To Be Leased Or Sold

(Trinidad and Tobago Newsday, Julien Neaves, 24.Nov.2018) — Energy Minister Franklin Khan has announced operations at the Augustus Long Hospital in Pointe-a-Pierre, which has serviced the medical needs of Petrotrin employees, retirees and their dependents, will be terminated and it will be offered for lease or sale in January next […]

Demolished Homes Too Close To Oil Wells In Trinidad

(Trinidad and Tobago Newsday, Julien Neaves, 24.Nov.2018) — Energy Minister Franklin Khan says homes demolished in the Santa Flora area this week were located too close to oil wells and the owners were served notice more than a year ago. He was responding to a question in Parliament on Friday […]

Bolsonaro Seeks $30 Billion Brazil Oil Boon

(Bloomberg, Sabrina Valle and Samy Adghirni, 23.Nov.2018) — President-elect Jair Bolsonaro is pursuing the sale of Brazil’s deep-sea treasure-trove of oil, but just weeks after his election he’s facing the same political obstacles as his two predecessors. While Bolsonaro’s transition team argues the sale could net some $30 billion to […]

Vista Inks Deal For Bajada del Palo Block In Argentina

(Vista Oil & Gas, 22.Nov.2018) — Vista Oil & Gas, S.A.B. de C.V. announced that, Vista Oil & Gas Argentina S.A. and Apco Oil & Gas S.A.U., subsidiaries of Vista, signed with the Undersecretariat of Energy, Mining and Hydrocarbons of the Province of Neuquén, Argentina, an Investment Agreement Letter (Acta […]

TT Budget On Oil Price Swing

(Trinidad and Tobago Newsday, Carla Bridglal, 22.Nov.2018) — Crude oil’s importance to the TT economy is now second to natural gas, but its contribution is by no means miniscule — estimated to be 6.8 per cent of GDP in 2018 — and so the country should at least be monitoring […]

Total Enters Brazil Fuels Sector With Purchase Of Grupo Zema Business

(Total, 22.Nov.2018) — Total has entered into an agreement with Brazilian company Grupo Zema to acquire its fuel distribution company Zema Petróleo, its reseller and retailer arm Zema Diesel as well as its importation company Zema Importacao. Zema Petróleo currently manages an extensive branded network of 280 dealer-operated service stations […]

Total To Buy Businesses From Brazil’s Grupo Zema

(Reuters, 22.Nov.2018) — French energy group Total has agreed to buy some businesses of Brazil’s Grupo Zema to expand in the biofuels sector. Total said it would be buying fuel distribution company Zema Petróleo, reseller and retailer arm Zema Diesel and importation company Zema Importacao. Financial terms were not disclosed. […]

YPFB To Initiate Sales of Super Ethanol In La Paz

(Energy Analytics Institute, Aaron Simonsky, 22.Nov. 2018) — YPFB will commence sales of its new fuel called Super Ethanol in the capital city of La Paz. Approximately 10 petrol stations will market the fuel in La Paz, and sales are projected at around 100,000 liters per day, as was the […]

EDP Energias do Brasil To Host Management Gathering In NYC

(EDP Energias do Brasil, 22.Nov.2018) — EDP Energias do Brasil S.A. will host a Management Meeting on Monday, November 26, 2018 at Omni Berkshire Place New York (21 East 52nd Street at Madison Avenue). This event, held for analysts and institutional investors, will feature presentations by Miguel Setas (CEO), Henrique […]

PDVSA In Talks Over 2nd Sea-Borne Oil-Transfer Operation

(Reuters, Marianna Parraga, 22.Nov.2018) — Venezuela’s state-run oil firm PDVSA has begun talks with shipping firms to set up a second ship-to-ship (STS) operation off the country’s eastern coast in an effort to increase sagging crude exports, according to three people familiar with the matter. PDVSA this year began sea-borne […]

LatAmNRG Panorama 22.Nov.2018: Venezuela, Colombia, Argentina

(Energy Analytics Institute, Piero Stewart and Aaron Simonsky, 22.Nov. 2018) — Heard on the street and other LatAmNRG briefs from OPEC producer Venezuela, and neighboring Colombia, emerging shale gas producer Argentina. Heard On The Street And Briefs Venezuelan Oil Workers Protest In Zulia A group of oil workers marched to […]

Tecpetrol Reports Rise In Fortín de Piedra Shale Production

(Energy Analytics Institute, Aaron Simonsky, 21.Nov. 2018) — Tecpetrol announced production at its Fortín de Piedra unconventional shale gas project increased 36% to 15 million cubic meters per day in November of 2018 compared to 11 million cubic meters per day in August 2018, the company revealed in a Twitter […]

YPF Awards EXMAR Contract For Export Of First LNG From Argentina

(Exmar, 21.Nov.2018) — Belgium’s EXMAR NV and Argentina’s YPF signed a firm, ten-year agreement to deploy EXMAR’s barge-based floating LNG liquefaction unit (FLNG), currently known as Caribbean FLNG, to produce and export LNG from the Vaca Muerta formation located in the Neuquén Basin in Argentina. The barge-based floating liquefaction unit […]

Venezuela’s Maduro Says $100/bbl Oil Is ‘Fair Price’

(Energy Analytics Institute, Piero Stewart, 21.Nov. 2018) — Venezuela’s President Nicolás Maduro said an $100 oil price is a “fair price” for a barrel of oil, and assured that low oil prices do “damage” to the world economy. “The price of oil should be $100 a barrel,” said Maduro during […]

Argentina To Start First-Ever LNG Exports In 2019

(Oilprice.com, Tsvetana Paraskova, 21.Nov.2018) — Argentina will be joining the ranks of exporters of liquefied natural gas (LNG) next year when it stars exporting gas from its Vaca Muerta shale play. Argentina’s energy firm YPF and Belgian energy shipping company Exmar have signed a ten-year agreement, under which Exmar will […]

Petrobras To Be Led By Privatisation Advocate

(AP, 21.Nov.2018) — Brazil’s President-elect Jair Bolsonaro named pro-market reformer Roberto Castello Branco, as future chief executive of the country’s state-controlled oil company, Petrobras, on Monday. Castello Branco, a former member of Petrobras’ board, has advocated privatising the oil giant, a measure also supported by his close ally and long-time […]

Neuquén Gov’t Suspends YPF’s Environmental License At Two Pads

(Energy Analytics Institute, Aaron Simonsky, 21.Nov.2018) — The Government of the Province of Neuquén has temporarily suspended YPF’s environmental license at two pads in Bandurria. The precautionary measure affects pads 8 and 9, where an hydrocarbon spill occurred on October 19, 2018, YPF announced in an official statement sent via […]

Venezuela Fuel Shortages Get Worse As Tanker Staff Flee

(Bloomberg, Fabiola Zerpa, 21.Nov.2018) — Venezuela’s fuel shortages are worsening as mass resignations at the state oil company’s tanker fleet have delayed gasoline shipments. Petroleos de Venezuela SA’s refineries are running at less than a quarter of their capacity, forcing the country to rely on imported gasoline. Once the cargoes […]

DeNovo Delivers Initial Gas From Iguana Field Offshore Trinidad

(DeNovo Energy, 21.Nov.2018) — DeNovo Energy Limited, a subsidiary of the Proman Group, announced the first commercial supply of gas from the Iguana Field in Block 1(a), which will deliver 80 million cubic feet of gas per day (Mmcf/d) once fully operational. DeNovo, which became the operator of the field […]

Bolivia Foresees Hydrocarbon Revenues Of $2.5 Billion In 2019

(Energy Analytics Institute, Aaron Simonsky, 21.Nov. 2018) — Bolivia’s Hydrocarbon Minister Luis Alberto Sanchez announced the country foresees hydrocarbon revenues of $2.5 billion in 2019 amid continued legal security as well as plans to sign gas export contracts. In coming weeks Bolivia’s government will sign new contracts which could imply […]

LatAmNRG Panorama 20.Nov.2018: Trinidad and Tobago

Economics Of Vaca Muerta’s Development Trumps Climate Concerns

U.S.-Argentine Cos. Identify $270 Mln In New Vaca Muerta Developments

(Energy Analytics Institute, Aaron Simonsky, 20.Nov. 2018) — A road show by an Argentina delegation to New Orleans and Houston last week brought together 35 Argentine companies and another 50 U.S. companies interested in forging ties and business ventures in the Vaca Muerta shale formation. “It was a very successful […]