ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

Colombia’s Cano Limon Pipeline Hit By New Bomb Attack

(Reuters, 10.Nov.2018) — Colombia’s state-run oil company Ecopetrol said on Saturday it was mounting another cleanup operation after a bomb attack on the Cano Limon pipeline. The attack is the 78th this year on the 485-mile (780-km) pipeline, which has been out of service for much of 2018 because of […]

Uruguay’s Energy Matrix And Renewable Energies

“Uruguay’s energy matrix is one of the most outstanding in the world due to the variety of renewable energies” — ANCAP President Marta Jara.

Ecuador’s Energy Minister Calls For Audit Of Gasvesubio Export

(Energy Analytics Institute, Piero Stewart, 10.Nov.2018) — Ecuador’s Minister of Energy and Non-Renewable Natural Resources Carlos Pérez García has requested that the Comptroller of the country carry out a special examination of Contract 2016063 signed between EP Petroecuador and the private company Gasvesubio Export (owned by the Eljuri group), on […]

Petrobras Announces Calling Of Extraordinary General Meeting

(Petrobras, 9.Nov.2018) — Petrobras announced, according to the CVM and B3 rules to Level 2 of corporate governance listed companies, calling of General Extraordinary Meeting on Dec. 11, 2018, observed 30 days in advance, to deliberate on the following matters: 1. Proposal to amend Petrobras’ Bylaws to adjust Articles 23, […]

Brazil VP-elect ‘Impressed’ After Meeting With Petrobras Executives

(Reuters, Rodrigo Viga Gaier, Marta Nogueira, 9.Nov.2018) — Brazil’s Vice-President-elect Hamilton Mourão said on Twitter he was “very much impressed” after meeting on Friday with top executives at state-run oil company Petroleo Brasileiro SA , in the midst of uncertainty over the company’s future leadership. The meeting came as President-elect […]

Pemex Present At Abu Dhabi Int’l Petroleum Exhibition and Conference 2018

(Pemex, 9.Nov.2018) — As part of the current Pemex business strategy, CEO Carlos Treviño leaves today for Abu Dhabi, where he will participate in the Abu Dhabi International Petroleum Exhibition and Conference 2018, to be held in the capital of the United Arab Emirates. This is widely considered to be […]

Argentina Awaits Hydrocarbon Investments Of Nearly $13 Billion in 2019

(Energy Analytics Institute, Aaron Simonsky, 8.Nov.2018) — Argentine hydrocarbon investments are projected to increase in 2019 compared to 2018, announced the country’s Energy Secretary Javier Iguacel. “This year they invested $9 billion in oil and gas. Next year we expect investments of $13 billion and double the amount of equipment […]

Argentina Aims To Cover 20% Of Energy Demand in 2025 With Renewables

(Energy Analytics Institute, Aaron Simonsky, 8.Nov.2018) — Argentina’s shale boom taking place in the Vaca Muerta formation in Neuquen will not stop the country from pursuing goals related to renewable energies. “We set out to promote renewable energies and assume a very specific commitment,” Argentina’s Treasury reported in an official […]

Chevron Stayed In Venezuela Long After Rivals Quit

(Wall Street Journal, Kejal Vyas and Bradley Olson, 8.Nov.2018) — For nearly a century, Chevron Corp. has weathered dictatorships, coups and nationalization drives to keep pumping oil in Venezuela. But recently, executives at the last U.S. oil major in the country have debated whether it may be time to get out, […]

Europe

Repsol To Participate In Deutsche Bank Virtual Investor Conference

Oceaneering Resumes Subsea Load-Outs At Panama City Facility

(Oceaneering, 8.Nov.2018) — Oceaneering International, Inc. provided an operations update on its manufacturing facility in Panama City, Florida and its recovery from Hurricane Michael. “Exceeding our own expectations, production activities at our Panama City facility have resumed. Subsea hardware load-outs are in progress, and umbilical deliveries are scheduled to begin […]

New Attack On Colombia’s Caño Limón-Coveñas Pipeline

(Energy Analytics Institute, Aaron Simonsky, 8.Nov.2018) — Colombia’s state oil company Ecopetrol revealed video coverage of the most recent attack on the company’s Caño Limón-Coveñas oil pipeline located in Boyacá. No further details are available yet, but the company has initiated a contingency plan, announced Ecopetrol official Mauricio Tellez in […]

Argentina Biodiesel Chamber: U.S. Review Of Tariffs Could Revive Exports

(Reuters, Maximilian Heath, 8.Nov.2018) — The U.S. decision to review its tariffs on Argentine biodiesel could mean a reversal of fortune for exporters whose shipments from the South American country have been practically nil, the biodiesel chamber of Argentina said on Thursday. The U.S. Department of Commerce announced on Wednesday […]

Mexico Should Fix Pemex Finances Before New Refining Investments: IMF

(Reuters, 8.Nov.2018) — The International Monetary Fund (IMF) on Thursday called for an improvement in Mexican state oil company Pemex’s financial position before it invests in building new refineries. Mexico’s incoming leftist government has vowed to build what could be the country’s largest oil refinery, with construction set to begin […]

Pemex Promotes Actions To Reduce Risks Caused By Fuel Theft

(Pemex, 8.Nov.2018) — Pemex and the Government of the state of Puebla have agreed to promote civil defense actions to mitigate the risks that arise from fuel theft in this state. Pemex CEO, Carlos Treviño, and the Governor of the state of Puebla Tony Gali, agreed to refine the plans […]

ENAP Magallanes Workers Distinguished With Pioneer Woman 2018 Award

(ENAP, 8.Nov.2018) — The recognition highlights women who have joined productive activities traditionally carried out by men. On November 7, the National Service for Women and Gender Equality (SERNAMEG) gave a recognition that highlights the women who have been incorporated into areas and productive activities traditionally carried out by men, […]

Weatherford Awarded Drillpipe Riser Contract With Petrobras

(Weatherford International, 7.Nov.2018) — Weatherford International announced it has been awarded a four-year contract with a one-year optional extension to provide drillpipe riser (DPR) intervention systems and services for Petróleo Brasileiro S.A. in Brazil. This contract is expected to yield approximately $80 million in revenue during the initial four-year period. […]

Frontera Energy Announces 3Q:18 Ops, Financial Results

(Frontera Energy, 7.Nov.2018) — Frontera Energy Corporation released its Interim Condensed Consolidated Financial Statements for the third quarter of 2018, together with its Management, Discussion and Analysis (MD&A). These documents will be posted on the Company’s website at www.fronteraenergy.ca and SEDAR at www.sedar.com. All values in this news release and […]

Is Your Gasoline Burning Out Faster?

(Trinidad Express, Sandhya Santoo, 7.Nov.2018) — Is super gasoline burning faster? This is the claim by some motorists who are insisting that the fuel is burning faster, leading to lower mileage per litre and higher costs. And many taxi drivers say that the Super gasoline is causing economic hardship. Some […]

Fracking Could Generate $500 Mln Per Year In Colombia -Study

Braskem Plans Initiatives To Promote The Circular Economy

(Braskem, 7.Nov.2018) Braskem has defined a series of global initiatives to boost the Circular Economy in the production chain of manufactured plastic goods. “We are firmly committed to the goal of helping to transform the linear economy into a Circular Economy, effectively demonstrating our commitment to sustainable development,” said Fernando […]

Petrobras Invites Investors And Analyst To Participate In 3Q:18 Webcast

(Petrobras, 6.Nov.2018) — Petrobras will disclose its 2018 Third Quarter Results on Tuesday, November 6, 2018, before the opening of the market. The company would like to invite investors and analysts for the conference call/webcast, with broadcast in Portuguese and simultaneous translation to English, as follow: November 6, 2018 (Tuesday) […]

Petrobras BODs Approves Payment Of Interest On Capital

(Petrobras, 6.Nov.2018) — Petrobras announced its Board of Directors approved in a meeting held yesterday distribution of early remuneration to shareholders as Interest on Capital (IOC), as defined in art. 9, sole paragraph of its bylaws and in article 9 of Law 9.249/95. The value to be distributed, in the […]

Petrobras Reports Net Income Of R$23,677 Million In 9M-2018

(Petrobras, 6.Nov.2018) — Petrobras reported net income of R$ 23,677 million in 9M-2018, the best result since 2011 and a growth of 371% compared to the 9M-2017, determined by: – Higher margins in the sales of oil products in Brazil and in exports, both driven by the increase in Brent […]

Argentina Announces Offshore Exploration Round 1

(Energy Analytics Institute, Aaron Simonsky, 6.Nov.2018) — Argentina’s Energy Secretariat announced a tender for exploration activities offshore the Argentine continental shelf. The activities will expand Argentina’s exploration and exploitation potential and potentially increase hydrocarbon production in an effort to ensure domestic supply. Exploration permits cover around 200,000 square kilometers, and […]

Scania Announces Record Gas Bus Delivery To Bogotá

(Scania, 6.Nov.2018) — In its largest gas bus delivery ever, Scania will supply 481 Euro 6 gas buses – the cleanest and most silent buses on the market – for the renewal of Bogotá’s TransMilenio Bus Rapid Transit system. Bogotá is replacing its earlier Euro 2 and Euro 3 buses […]

Rosneft Says Venezuela’s Bill Falls To $3.1 Billion

(Reuters, 6.Nov.2018) — Rosneft was owed $3.1 billion by Venezuela as of September 30, down from $3.6 billion on June 30, Russia’s largest oil producer said on Tuesday. It also said it owes $26.8 billion to traders under prepayment deals for its oil as of Sept. 30, down from $29.3 […]

Fitch’s Mexico Outlook Downgrade Based On Energy Policy Uncertainty

(NGI, Andrew Baker, 6.Nov.2018) — Fitch Ratings late last month revised its outlook for Mexico, citing, among other things, potential energy policies to be implemented by incoming President-Elect Andrés Manuel López Obrador. Fitch credit analysts retained their investment grade BBB+ rating on Mexico’s sovereign debt, but lowered their long-term, foreign […]

Argentina Switches On 70-MW Wind Park In Chubut

(Renewables Now, 6.Nov.2018) — Argentina’s Ministry of Energy and Mines announced on Monday that on November 2, the country switched on a 70-MW wind park in Chubut province. Argentine thermal and renewable energy group Genneia SA was the developer behind the Parque Eolico Puerto Madryn I (PEM I), as it […]

Five Groups May Join Eletronuclear Complete Power Plant Project

(Reuters, 6.Nov.2018) — Five groups are considering whether to partner with Brazil’s state-controlled Eletronuclear to resume construction of nuclear power plant Angra III, already partially built by the government, newspaper Valor Econômico reported on Tuesday, citing unidentified sources. The foreign companies’ interest in the venture grew after a government agency […]

World’s Most Indebted Oil Company Reports 20-Fold Increase In Profit

(Oilprice.com, Tsvetana Paraskova, 6.Nov.2018) — Brazilian state-run oil firm Petrobras reported on Tuesday a net income for Q3 surging more than 20 times compared to the profit for the same quarter last year on the back of higher oil prices. Petrobras reported a consolidated net income of US$1.77 billion (6.644 […]

YPF Reports New Incident At Work-Over Well In Loma La Lata

(Energy Analytics Institute, Aaron Simonsky, 6.Nov.2018) — The incident involved an estimated 0.6 cubic meters of water, gas and mud, and occurred on Friday November 2, 2018 during conditioning activities at a work-over well in Loma La Lata. The incident was immediately controlled, reported online media AdnSur. YPF didn’t respond […]

Mexico

Talos Updates On Pre-Unitization Agreement With Pemex

(Talos Energy Inc., 5.Nov.2018) — Talos Energy Inc. and its partners in Block 7 offshore Mexico signed a Pre-Unitization Agreement (PUA) with Pemex that enables information sharing related to the Zama discovery and its potential extension into Pemex’s neighboring block. The agreement also establishes a clear path for the signing […]

Ecopetrol Attends Oil Spill In Tibú River

(Energy Analytics Institute, Aaron Simonsky, 5.Nov.2018) — Colombia’s state oil company Ecopetrol installed a series of barriers in a rural area of the Tibú municipality (Norte de Santander) in an effort to contain an oil spill in the Tibú River. The spill originated over the weekend when stolen crude oil […]

Santa Cruz Reports Sale of 200,000 Liters of Ethanol 92 In Four Days

(Energy Analytics Institute, Jared Yamin, 5.Nov.2018) — Commercialization of Bolivia’s new ‘Super Ethanol 92’ gasoline reached nearly 200,000 liters in the first four days after it was introduced in the department of Santa Cruz, reported the daily newspaper La Razón, citing National Hydrocarbons Agency (ANH) Director Gary Medrano. *** #LatAmNRG […]

Argus Launches Series Of Daily Jet Fuel Prices In Brazil

(Argus, 5.Nov.2018) — Global energy and commodity price reporting agency Argus has launched a series of daily jet fuel prices for the aviation fuel market in Brazil. Local and international airlines continue to invest in the growing Brazilian aviation market, driving the need for an independent reference for delivered jet […]

FMC Corporation Updates On Ag Solutions In Brazil

(FMC Corporation, 5.Nov.2018) — FMC delivered another very strong quarter. “In Ag Solutions, we executed our commercial strategy particularly well in Brazil, where we implemented significant price increases to largely offset FX headwinds,” said FMC CEO and chairman Pierre Brondeau. FMC Agricultural Solutions reported third quarter revenue of approximately $924 […]

Talos Energy, Pan American Ink Deal To Cross-Assign Interests In Mexico

(Talos Energy Inc., 5.Nov.2018) — Talos Energy Inc. entered into a transaction with, Hokchi Energy, S.A. de C.V., a subsidiary of Pan American Energy, to cross-assign its Participating Interest (PI) in Block 2 and Pan American’s PI in Block 31, both in the Sureste Basin offshore Mexico. Under the agreed […]

Talos Energy Announces Approval Of Zama Appraisal Plan In Mexico

(Talos Energy Inc., 5.Nov.2018) — The National Hydrocarbons Commission (CNH), the Mexican oil & gas regulator, has approved the appraisal plan for the Zama discovery. The approval by the CNH was a key approval required to commence the appraisal of the Zama discovery. CNH has also approved the consortium drilling […]

Pattern Energy Reports 3Q:18 Financial Results

(Pattern Energy Group, 5.Nov.2018) — Pattern Energy Group Inc. announced its financial results for the 2018 third quarter. Highlights (Comparisons made between fiscal Q3 2018 and fiscal Q3 2017 results, unless otherwise noted) — Proportional gigawatt hours (“GWh”) sold of 1,623 GWh, up 7% — Net cash provided by operating […]

Latin America and the Caribbean

Colombia Postpones Renewable Energy Projects Auction

(PV Magazine, Emiliano Bellini, 5.Nov.2018) — Colombia’s national mining and energy planning unit UPME has announced in a circular it will postpone the final bidding rules for the country’s first auction for large-scale renewable energy projects. The authority said that it will provide an updated schedule of the auction in […]

Argentina Allocates $500 Million For Users To Generate Energy

(Energy Analytics Institute, Aaron Simonsky, 4.Nov.2018) — Argentina’s government has allocated $500 million for a special fund to be used to subsidize loans for the purchase of solar systems that allow users to generate their own electricity. “There will be a credit subsidy so repayment of the investment is in […]

Bolsonaro To Push Forward Giant Brazil Oil Sale, Adviser Says

(Bloomberg, Sabrina Valle, 4.Nov.2018) — Jair Bolsonaro’s energy team is keen to push for the sale of prized Brazilian crude deposits in an auction that could give Big Oil access to more black gold than all of Mexico’s proved reserves. The plan would be to take bids in mid-2019 to […]

EOG Resources Reports 20% Collapse In Trinidad Gas Production

(Energy Analytics Institute, Piero Stewart, 4.Nov.2018) — EOG Resources, Inc. (EOG) reported a 20% collapse in natural gas production in Trinidad in the third quarter of 2018 (3Q:18). Looking forward to the next quarter, the scenario doesn’t look promising. Gas production in Trinidad was 260 million cubic feet per day […]

YPF To Invest $5 Billion Per Year During 2019-2023

(Energy Analytics Institute, Jared Yamin, 4.Nov.2018) — YPF expects to make investments of $5 billion per year during the 2019-2023 period as part of its initiative to be a leader in the production of energy in Argentina. As a result, YPF’s hydrocarbon production is expected to grow between 5% and […]

BP Extends Contract With Joe Douglas In Trinidad By One Well

(Energy Analytics Institute, Jared Yamin, 2.Nov.2018) — BP has extended its contract with the Joe Douglas in Trinidad by one well with an expected duration of 76 days. The extension includes one additional two-well option at then market rates, Rowan Companies plc announced in an official statement. *** #LatAmNRG

Royal Dutch Shell Provides 3Q:18 Highlights For Brazil And Argentina

(Energy Analytics Institute, Jared Yamin, 2.Nov.2018) — Royal Dutch Shell provided an update related to portfolio developments in Brazil and Argentina during the third quarter 2018. Third Quarter 2018 Portfolio Developments Upstream During the quarter, Shell and its partner Chevron won a 35-year production-sharing contract for the Saturno pre-salt block […]

Canacol Energy 3Q:18 Results Release, Conference Call Date

(Canacol Energy Ltd., 2.Nov.2018) — Canacol Energy Ltd. will announce its third quarter 2018 financial results after the market close on Tuesday, November 13, 2018. Senior Management will hold a conference call to discuss results on Wednesday, November 14 at 8:00am MST / 10:00am ET. The conference call may be […]

Ex-Venezuela Oil Official Pleads Guilty In Graft Probe

(AP, 2.Nov.2018) The former finance chief of Venezuela’s state oil company pleaded guilty on Wednesday to participating in an alleged US$1.2-billion embezzlement scheme, a major breakthrough for US prosecutors targeting corruption by people close to President Nicolas Maduro, including his stepsons. Appearing in a Miami federal court, Abraham Ortega promised […]

YPF Injects $4 Million In Aerolíneas Argentinas, Jorge Newbery Airport

(Energy Analytics Institute, Aaron Simonsky, 2.Nov.2018) — Argentina’s YPF announced it will make an investment of nearly $4 million in Aerolíneas Argentinas destined to renovate 9 supply units and for other work related to process optimization at the Jorge Newbery Airport. The announcement was jointly made by Grupo Aerolíneas President […]