ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

Venezuela Signs Eight Agreements with China

(PDVSA, 13.Feb.2017) – PDVSA ratified its cooperation with the People’s Republic of China with the signing of eight agreements at the 15th China-Venezuela High Level Joint Commission, which was held […]

Venezuela, Algeria Officials Discuss Bilateral Coop

(PDVSA, 13.Feb.2017) – Venezuela’s Foreign Minister Delcy Rodríguez and Oil Minister Nelson Martínez visited the People’s Democratic Republic of Algeria to continue working visits to member a and non-member countries […]

Petrobras Reaches Production Target

(Petrobras, 12.Feb.2017) – Petrobras reported average oil production in Brazil reached an annual historical record in 2016, at 2.144.256 barrels per day (bpd), 0.75% above the results for the prior […]

Standard & Poor’s Improves Petrobras’ Rating

(Petrobras, 11.Feb.2017) – Petrobras announced that the credit rating agency Standard & Poor’s raised its rating for the company’s corporate debt to ‘BB-‘ from ‘B+’ and changed its outlook to […]

Venezuela’s Martínez meets Omani Counterpart

(PDVSA, 10.Feb.2017) – Venezuela’s Foreign Minister Delcy Rodríguez and the country’s Oil Minister Nelson Martínez traveled to the Sultanate of Oman to meet with Omani Oil Minister Mohammed bin Hamad […]

FSRU Höegh Grace Receiving Cargo In Colombia [Video]

(LNG World, 10.Feb.2017) — Norway-based Höegh LNG’s FSRU Höegh Grace began commercial operations in Cartagena, Colombia at the end of last year. The Höegh Grace, used as Colombia’s first LNG import terminal, […]

Petrobras Announces Final Tender Results

(Petrobras, 9.Feb.2017) – Petróleo Brasileiro S.A. – Petrobras (PBR) announced that holders of $4,899,100,000 and €631,753,000 principal amount of the outstanding notes of the series set forth in the table […]

Why is Venezuela’s Oil Sector So Shattered?

(Igor Hernández, IESA Professor, 8.Feb.2017) – For oil-dependent Venezuela, the drop in oil prices since 2014 has been hard. Combined with the collapse in production, it has created an unprecedented […]

Ecopetrol Notice for Empresa de Energía de Bogota

(Ecopetrol S.A., 8.Feb.2017) – Ecopetrol S.A. announced on February 8, 2017, as established in the Offering Notice of Second Stage, the company published the offering notice regarding the fourth auction […]

ICSID Orders Ecuador Pay ConocoPhillips $380 Mln

(ConocoPhillips, 8.Feb.2017) – ConocoPhillips’ wholly owned subsidiary, Burlington Resources Inc., received an arbitration award of $380 million from an international arbitration tribunal, constituted under the International Centre for the Settlement […]

Paris Court Favors with Gold Reserve

(Gold Reserve Inc., 7.Feb.2017) – Gold Reserve Inc. announced that on February 7, 2017, the Paris Court of Appeal rejected all of Venezuela’s arguments and issued a judgment dismissing the […]

GeoPark Says 2P Reserves Valued at $1.9 Bln

(GeoPark Limited, 6.Feb.2017) – GeoPark Limited announced its independent oil and gas reserves assessment, certified by DeGolyer and MacNaughton (D&M), under PRMS methodology, as of December 31, 2016. Year-End 2016 […]

Baron Provides Update On Block Z-34 Peru

(Baron Oil plc, 6.Feb.2017) — The Board of Baron Oil plc provided an update on activities in Peru on Block Z-34 Following preparation and presentation of a detailed drilling plan […]

P-66 Leaves Shipyard for Lula Field

(Petrobras, 6.Feb.2017) – The floating platform will operate in the Santos Basin pre-salt and it will be the seventh unit deployed in Lula field. On February 4, 2017 the floating […]

Gran Tierra to Divest Brazil Business

(Gran Tierra Energy Inc., 6.Feb.2017) – Gran Tierra Energy Inc. announced a purchase and sale agreement was executed pursuant to which Maha Energy AB agreed to purchase Gran Tierra’s Brazil […]

PDVSA Exploration VP Tours Faja Ops

(PDVSA, 4.Feb.2017) – PDVSA Vice President of Exploration and Production Nelson Ferrer, led a tour of the facilities of the Orinoco Drill Operators Cooperative Association, which absorbed former Petrex Sudamérica […]

Venezuela Says El Tablazo Targeted

(Energy Analytics Institute, Piero Stewart, 2.Feb.2017) – Venezuela’s Electric Energy Minister Luis Motta Domínguez announced three persons planned actions to sabotage the sub-station El Tablazo 400 in Zulia state. One […]

New PDVSA Board Preparing for Changes

(Energy Analytics Institute, Piero Stewart, 2.Feb.2017) – A newly appointed Board of Directors at PDVSA will be charged with taking actions to prepare the company for the eventually turn around […]

PDVSA Says Costs Down More Than 30%

(Energy Analytics Institute, Piero Stewart, 2.Feb.2017) – PDVSA reduced operating costs by more than 30 percent, announced the entity in an official statement, citing company President Eulogio Del Pino. No […]

Maduro Ask Citizens to Reduce Consumption

(Energy Analytics Institute, Piero Stewart, 2.Feb.2017) – Venezuela’s President Nicolas Maduro called on the Venezuelan citizens to reduce their consumption of fuels so that they could be used for exports […]

Maduro Names New Central Bank Head

(Energy Analytics Institute, Piero Stewart, 2.Feb.2017) – Venezuela’s President Nicolas Maduro named Ricardo Sanguino as the new President of the Venezuelan Central Bank (BCV). Sanguino replaces Nelson Merentes, who resigned […]

GeoPark Announces Development Successes in Colombia

(GeoPark Limited, 2.Feb.2017) – GeoPark Limited announced new drilling successes in the Llanos 34 Block (GeoPark operated with a 45% working interest), in Colombia, consisting of: Discovery of the new […]

Mariscal Sucre Has 600 MMcf/d Production Potential

(Piero Stewart, Energy Analytics Institute, 1.Feb.2017) – Venezuela’s Mariscal Sucre natural gas project offshore has a production potential of 600 million cubic feet per day. The company plans to use […]

Gran Tierra Reports 4Q:16 and YE:16 Results

(Gran Tierra Energy Inc., 30.Jan.2017) – Gran Tierra Energy Inc. announced its financial and operating results for the fourth quarter and year ended December 31, 2016. Unless otherwise expressly stated, […]

Venezuelan Executives Discuss Oil Agenda

(Energy Analytics Institute, Piero Stewart, 29.Jan.2017) – Members of the Hydrocarbon Motor of the Bolivariana Economic Agenda met in Caracas to discuss advances under the plan. The meeting, held January […]

Maduro Announces Shakeup to PDVSA Board

(Energy Analytics Institute, Pietro D. Pitts, 29.Jan.2017) – Venezuela’s President Nicolas Maduro announced changes to the Board of Directors at PDVSA and said the members would be expected to assume […]

Bariven to be Heard in Restitution Process

(PDVSA, 28.Jan.2017) – Bariven, S.A., a PDVSA subsidiary, has taken legal action to obtain compensation for damages suffered due to fraudulent actions by former contractors and suppliers who in collusion […]

AES Terminal to Supply Caribbean, Central America

(AES Dominicana, 28.Jan.2017) – The AES Dominicana Liquefied Natural Gas reception terminal, located in the AES Andres energy complex, has completed the modifications to allow for re-loading and re-exportation of […]

Trump Nationalism Scares LAC Exporters

(Energy Analytics Institute, Pietro D. Pitts, 27.Jan.2017) – Taiwan’s president got the call, Mexico’s president will get a wall. At least, that’s what U.S. President Donald Trump is proclaiming. From […]

Venezuela Eyes Boosting Hydrocarbons Economic Driver

(PDVSA, 26.Jan.2017) – Members of the Hydrocarbons Economic Driver of the Bolivarian Economic Agenda, met at La Campiña headquarters of PDVSA in Caracas, for the presentation of the first annual […]

Guyana’s Ministry Continues Engagement with Stakeholders

(Guyana Ministry of Natural Resources, 26.Jan.2017) – As part of the Ministry of Natural Resources’ continuous engagement of stakeholders on preparations of Guyana’s developing oil and gas industry, the Ministry […]

VTTI Announces Acquisition in Panama

(VTTI B.V., 25.Jan.2017) – VTTI B.V., an independent provider of energy storage, announced an acquisition of a 230,000 m3 facility in Panama, resulting in a joint venture between VTTI and […]

The Gas Supply Challenge: Falling Off Mt Trinidad

Gran Tierra Reports 91% Rise in 2P Reserves

(Gran Tierra Energy Inc., 23.Jan.2017) – Gran Tierra Energy Inc. announced its 2016 year-end estimated reserves as evaluated by independent qualified reserve evaluator McDaniel & Associates Consultants Ltd. in a […]

PDVSA Financial Debt Down by $2.7 Bln in 2016

(Energy Analytics Institute, Aaron Simonsky, 20.Jan.2017) – Cash-strapped PDVSA went out on a limb again last year to reduce its long-term financial debt. PDVSA, as the Caracas-based company is known, […]

Maduro Names Citgo President as Venezuela’s Oil Minister

(Energy Analytics Institute, Aaron Simonsky, 20.Jan.2017) – Venezuela President Nicolas Maduro announced the appointment of Nelson Martínez, the actual president of Citgo Petroleum Corporation, as the country’s new petroleum minister. […]

Guyana Ministry Clarifies Huffington Article

(Guyana Ministry of Natural Resources, 19.Jan.2017) – The Ministry of Natural Resources would like to clarify for the benefit of the public an article by online media outlet The Huffington […]

Maduro Fires Pequiven President

(Energy Analytics Institute, Piero Stewart, 16.Jan.2017) – Venezuela’s newly appointed Vice President Tareck Aissami announced that the country’s President Nicolas Maduro had ordered the dismissal of Pequien President Juancarlo Depablos […]

ExxonMobil Success in Guyana Continues

(Energy Analytics Institute, Piero Stewart, 16.Jan.2017) – ExxonMobil’s successful drilling streak continues in Guyana as the Irving, Texas-based company announced positive results from its second offshore well Payara-1, also located […]

Mexico’s Gasoline Price Lowest in LAC Region

(Energy Analytics Institute, Fidencio Casillas, 16.Jan.2017) – The average gasoline price in Mexico, the largest Spanish speaking country in the Americas, is still the lowest amongst select countries in the […]

PDVSA’s Domestic Refining Utilization Falls

(Energy Analytics Institute, Aaron Simonsky, 16.Jan.2017) – Refining utilization rates at PDVSA’s six domestic refineries averaged 30.7 percent in 2016 owing to permanent and temporary plant shut downs, and continued […]

Ecuador Announces $1 Billion Bond Placement

(Energy Analytics Institute, Ian Silverman, 16.Jan.2017) – Ecuador, the only other Latin American country to belong to the Organization of Petroleum Exporting Countries (OPEC), successfully completed a $1 billion bond […]

LatinFinance Says Petrobras Has Best Debt Management

(Petrobras, 16.Jan.2017) – Voted the company with the best debt management performance in the international capital markets in 2016, Petrobras was presented by LatinFinance magazine with the Corporate Liability Management […]

ExxonMobil Announces New Oil Discoveries Offshore Guyana

(Exxon Mobil, 12.Jan.2017) – Exxon Mobil Corporation announced positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in […]

Renaissance, Lukoil to Partner in Amatitlán Block

(Renaissance Oil Corp., 11.Jan.2017) – Renaissance Oil Corp. announced that PJSC LUKOIL, one of the world’s largest oil producers, has chosen Renaissance as their partner for the Integrated Exploration and […]

Petrobras Announces Pricing of Global Notes

(Petrobras, 10.Jan.2017) – Petrobras announces the pricing of global notes denominated in U.S. Dollars (the “Notes”) to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF). The Notes […]

Moody’s Assigns Rating to Petrobras Notes

(Moody’s Investors Service, 9.Jan.2017) – Moody’s Investors Service assigned a B2 rating to Petrobras Global Finance B.V.’s proposed global notes, which will be unconditionally guaranteed by Petroleo Brasileiro S.A. (B2 […]

Moody’s Assigns Rating to Pampa Energía

(Moody’s Investors Service, 6.Jan.2017) – Moody’s Investors Service assigned a B3 Corporate Family Rating (CFR) to Pampa Energía S.A. At the same time, Moody’s assigned a B3 rating to the […]

Mexico’s Double-Digit Gasoline Price Increase

(Energy Analytics Institute, Fidencio Casillas, 5.Jan.2017) – The prices of gasoline in Mexico is set to increase gradually and up to 20 percent on average, effective January 1, 2017, although […]

Venezuela Sales Gasoline in Colombian Pesos

(Energy Analytics Institute, Piero Stewart, 4.Jan.2017) – Venezuela, the South American country with the region’s largest crude oil and natural gas reserves, initiated the sale of its gasoline in Paraguachón, […]