(GeoPark Limited, 4.Jan.2017) â GeoPark Limited announced the successful drilling and testing of the Tigana Sur 4 development well in the Tigana oil field in the Llanos 34 Block (GeoPark […]
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.
LGO Approved for Mayaro Infill Wells in Trinidad
(LGO Energy plc, 4.Jan.2017) â LGO Energy plc provided a further update on its plans to recommence production drilling at the Goudron Field in Trinidad following its announcement of December […]
Venezuela Moving Towards Oil Industry Restructuring
(Energy Analytics Institute, Aaron Simonsky, 4.Jan.2017) â âVenezuelan President Nicolas Maduro says âweâre going towards a restructuring of the (oil) industryâ and names Nelson MartĂnez, the actual president of Houston-based […]
GeoPark Appoints Dingman to Its Board of Directors
(GeoPark Limited, 4.Jan.2017) â GeoPark Limited announced appointment of Mr. Michael D. Dingman as a new member of the Board of Directors of the company, effective January 1, 2017. Dingman […]
PetroMonagas Initiates Drilling at UBCP14
(Energy Analytics Institute, Piero Stewart, 2.Jan.2017) â PDVSA PetroMonagas initiated directional drilling activities in RĂo Yabo — located in the Aceital del Yabo community in AnzoĂĄtegui state — and plans […]
Fitch Improves Ecopetrol’s Rating Outlook
(Fitch, 1.Jan.2017) â Ecopetrol S.A. reported that on March 14, 2017, rating agency Fitch Ratings improved the outlook for the company’s rating from a negative to a stable outlook. At […]
Enap Celebrates 71 Years Since First Oil Discovery
(By Energy Analytics Institute, Jared Yamin, 30.Dec.2016) â On 29 December 2016, Chileâs state oil company Empresa Nacional de PetrĂłleo (Enap) celebrated 71 years since the first oil well discovery […]
Petrobras Concludes Nansei Sekiyu Sale
(Petrobras, 28.Dec.2016) â Petrobras concluded the sale of its 100% stake in Nansei Sekiyu (NSS) to the Taiyo Oil Company. The transaction was done by Taiyo paying $165 million, after […]
Petrobras Sells Sugar, Ethanol, PetroChem Assets
(Petrobras, 28.Dec.2016) â These transactions are part of the companyâs partnerships and divestments program. The target for the period 2017-2018 is $21 billion ⊠On December 28, 2016, Petrobras closed […]
Venezuela Implements Oil Cut Agreement
(PDVSA, 27.Dec.2016) â PDVSA announced implementation of an agreement to reduce production reached by member and non member countries of the Organization of the Petroleum Exporting Countries (OPEC). Under the […]
Venezuela Oil Output to Near 2 MMb/d
(Energy Analytics Institute, Piero Stewart, 27.Dec.2016) â OPEC member nation Venezuela, which produced 2.097 million barrels per day (MMb/d) in November, according to the December 2016 Monthly Oil Market Report […]
Six Dead in PDVSA Truck Accident
(Energy Analytics Institute, Piero Stewart, 27.Dec.2016) â An accident between a fuel transport truck owned by PDVSA and a vehicle carrying six persons from Venezuelaâs armed forces unfortunately claimed resulted […]
PDVSA Incorporates New Grads into Workforce
(Energy Analytics Institute, Ian Silverman, 26.Dec.2016) â Three officials from PDVSA participated in a graduation ceremony in San TomĂ©, south of AnzoĂĄtegui state, whereby 124 graduates received diplomas and were […]
PDVSA Says It Maintains Full Ownership of Citgo
(Energy Analytics Institute, Ian Silverman, 25.Dec.2016) â PDVSA maintains full ownership and control over its Houston-based subsidiary Citgo Petroleum Corporation. PDVSA, in an official statement, also downplayed media versions and […]
Looting Concerns in Venezuela Oil Areas
(Energy Analytics Institute, Piero Stewart, 23.Dec.2016) â Looting in Bolivar state will not yet affect Venezuelaâs crude oil production or export capacity. However, fears of similar looting spreading to oil […]
Maduro Seeks Price Strategy Closure
(Energy Analytics Institute, Piero Stewart, 23.Dec.2016) â Venezuelaâs relentless search for a fair oil price continues as President Nicolas Maduro prepares to travel to various oil producing countries to finalize […]
Petrobras, Total Move Forward with Alliance
(Petrobras, 21.Dec.2016) â Petrobras signed a Master Agreement with the French company Total, in connection with the Strategic Alliance established in the Memorandum of Understanding signed on 10/24/2016, as previously […]
ExxonMobil Awards Key Contracts for Liza in Guyana
(Exxon Mobil, 20.Dec.2016) â Exxon Mobil Corporation subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), announced that it has awarded contracts to SBM Offshore for a floating production, storage and […]
PDVSA To Industrialize Faja Oil
(PDVSA, 15.Dec.2016) â As of 2019, PDVSA, through Puerto La Cruz Refineryâs Deep Conversion Project, will industrialize crude oil from the Orinoco Oil Belt using HDHPLUSÂź, a Venezuelan technology, announced […]
Fitch Reaffirms Ecopetrol Investment Grade
(Ecopetrol, 12.Dec.2016) â Ecopetrol S.A. reported the risk rating agency Fitch Ratings kept the company at investment grade, with an international rating of BBB. Fitch notes the important link between […]
Ecopetrol Notice Regarding ISA Divestment Plan
(Ecopetrol, 10.Dec.2016) â Ecopetrol S.A. announced that on December 10, 2016, as established in the Offering Notice of Second Stage, the company published the offering notice regarding the fourth auction […]
PDVSA Signs Agreements with Shell
(PDVSA, 5.Dec.2016) â PDVSA and Shell Venezuela signed two agreements at Miraflores Palace. Both companies have stakes in the joint venture Petroregional del Lago, S.A. and plans to boost its […]
Trinidad and Venezuela Reach Deals
(Energy Analytics Institute, Piero Stewart, 5.Dec.2016) â Together with President Nicolas Maduro and Prime Minister of Trinidad Keith Rowley we reached historic energy agreements, wrote PDVSA President Eulogio Del Pino […]
Venezuela to Export Gas to Trinidad
(PDVSA, 5.Dec.2016) â During a meeting in Miraflores Palace, the Peopleâs Power Minister of Petroleum and President of PDVSA Eulogio Del Pino and the Prime Minister of Trinidad and Tobago […]
Eco-Stim Energy Secures $2 Mln Loan
(Eco-Stim Energy Solutions, Inc., 1.Dec.2016) â Eco-Stim Energy Solutions, Inc. finalized a $2 million secured loan from existing shareholders. The loan will have a one-year term with the proceeds used […]
GeoParkâs Morona Block Approval in Peru
(GeoPark Limited, 1.Dec.2016) â GeoPark Limited obtained final regulatory approval for its acquisition of the Morona Block in Peru. In its first project returning to the upstream business, the Peruvian […]
Gran Tierra Common Stock Offering
(Gran Tierra Energy Inc., 29.Nov.2016) â Gran Tierra Energy Inc. closed the previously announced underwritten public offering of shares of its common stock. The company sold 43,335,000 shares of its […]
Gran Tierra Announces Successful Putumayo Bid
(Gran Tierra Energy Inc., 28.Nov.2016) â Gran Tierra Energy Inc. announced that it submitted winning bids totaling a combined $30.4 million for two blocks which Ecopetrol S.A., Colombia’s national oil […]
GeoPark Announces Expansion of Jacana Oil Field
(GeoPark Limited, 23.Nov.2016) â GeoPark Limited announced the successful testing of the Jacana 6 appraisal well in the Jacana Oil Field in the Llanos 34 Block (GeoPark operated with a […]
Harvest Natural Resources Reports 3Q:16 Results
(Harvest Natural Resources, Inc., 9.Nov.2016) â Harvest Natural Resources, Inc. reported a third quarter 2016 net loss of approximately $7.1 million, or $0.55 per diluted share, compared with net income […]
PDVSA Awards $138mn Contract To Tackle Petcoke Problem
(Reuters, 23.Sep.2016) â Venezuelan state oil company PDVSA said on Friday that Maroil Trading Inc has won a $138 million contract to remove a large pile of petroleum coke at […]
Big Oil Flocks To Argentina As Permian Land Prices Skyrocket
(Oilprice.com, Charles Kennedy, 15.Sep.2016) â The Permian Basin has become so hot that some oil companies are starting to stay away, instead looking at frontiers that are less picked over. […]
Trinidad Energy Chamber Head Talks Marketplace
(The Oxford Business Group, 25.Sep.2016) â Energy Chamber of Trinidad and Tobago CEO Thackwray âDaxâ Driver talks about the expanding marketplace. What is the significance of recent oil and gas […]
Venezuela Still the Country with the Largest Oil Reserves
(Energy Analytics Institute, Pietro D. Pitts, 14.Aug.2016) â Venezuela, the resource-rich South American country known for its chocolates, Caribbean beaches, lively citizens and beauty queens, still reigns as the country […]
Next Hot Spot for Shale Drilling? Argentina
(CNN Money, 28.Jul.2016) â Argentina has exceptional hydrocarbon reserves, but politics has greatly affected its development. The economy in Argentina is best described as a “pendulum”, going from loose economic […]
Resilience: Actions of the Gas and Oil Industry
(Energy Analytics Institute, Jared Yamin, 11.Jul.2016) â The 6th version of the congress will take place from July 12-13, 2016 at the Los Tajibos Hotel in Santa Cruz de la […]
Venezuela Cancels Premier LAPS Oil Event
(Energy Analytics Institute, Pietro D. Pitts, 4.Jul.2016) â Venezuela will not hold its annual Latin American Petroleum Show (LAPS). The decision to cancel the event this year is due to […]
Venezuela to soon initiate gas shipments to Colombia
(Energy Analytics Institute, Piero Stewart, 4.Jul.2016) â Venezuela plans to soon initiate shipments of natural gas to Colombia, reported Venezuela’s new agency AVN, citing the country’s Oil Minister Eulogio Del […]
Venezuela Producing 3.8 MMboe/d, PDVSA President Says
(Energy Analytics Institute, Piero Stewart, 4.Jul.2016) âVenezuela is producing 3.8 million barrels of oil equivalent per day, PDVSA President Eulogio Del Pino said during an interview on the television program […]
Maduro Holds Meeting with Citizens’ Joseph Kennedy
(Energy Analytics Institute, Piero Stewart, 2.Jul.2016) â Venezuela’s President Nicolas Maduro held a meeting with Citizens Energy Corporation founder Joseph Kennedy in Caracas to discuss matters related to the U.S.-based […]
ExxonMobil’s 2nd Well Offshore Guyana Confirms Oil
(Exxon Mobil, 30.Jun.2016) â Exxon Mobil Corporation said that drilling results from the Liza-2 well, the second exploration well in the Stabroek block offshore Guyana, confirm a world-class discovery with […]
Wood Group Awarded Contract for Statoilâs Peregrino field
(Wood Group, 28.Jun.2016) â Wood Group was awarded a multimillion dollar contract to provide detailed engineering and design, and procurement services to South Atlantic Holding (owned by Statoil and partner […]
PetroEcuador Reports Increase In Shareholder Equity
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â EP PetroEcuador announced its Shareholder’s Equity rose to $5.659 billion in 2015 compared to $3.914 billion in 2014, reported the state company […]
Ecuador’s SOTE Pipeline Spans 503 Kms
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â Ecuador’s SOTE pipeline spans 503 kilometers from the pumping station Lago Agrio No. 1 in the Amazon to the Balao Maritime Terminal […]
Ecuador’s SOTE Celebrates 44 Years of Operation
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â The TranEcuadorian Oil Pipeline (SOTE by its Spanish acronym) was inaugurated on June 26, 1972 with a capacity to transport 250,000 barrels […]
PetroEcuador to Export No. 6 Fuel Oil in July
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â Trafigura PTE LTD won a bid by EP PetroEcuador whereby the former will export 950,000 barrels of No. 6 Fuel Oil, announced […]
EP PetroEcuador Lays Out Goals for 2016
(Energy Analytics Institute, 27.Jun.2016, Clifford Fingers III) â EP PetroEcuador revealed some of its goals for 2016, reported the state company in an official statement. The goals for 2016 include, […]
President Obama Insists Venezuela Respect Democratic Process
(Energy Analytics Institute, Jared Yamin, 25.Jun.2016) â U.S. President Barack Obama insists the Venezuelan government respect the democratic process regarding calls for a recall referendum against Venezuelan President Nicolas Maduro, […]
PDVSA Says Drilling Rig Inventory at 311 Units
(Energy Analytics Institute, Piero Stewart, 25.Jun.2016) â PDVSA’s inventory of drilling rigs in Venezuela at the end of May 2016 reached 311 units, of which 156 were owned by the […]