MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 29.Nov.2024) — A key feature of the business plan for state-owned PetrĂłleos Mexicanos (Pemex) during the sexenio of Mexico’s president Claudia Sheinbaum Pardo is to maintain liquids production at 1.800 MMb/d. Through the first nine months of 2024, Pemex, in a 29 Nov. […]
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 Starts Procurement for SEAP in Sergipe-Alagoas Basin
(Energy Analytics Institute, 29.Nov.2024) — Petrobras initiated a new procurement process for the construction of up to two FPSO oil production units for the Sergipe Deep Waters Project (SEAP), in the Sergipe-Alagoas Basin. The process includes the bidding for one firm unit for SEAP 2 and an option to acquire […]
The Montney: A Rising Star in North American Energy
HOUSTON, TEXAS (Energy Analytics Institute, 29.Nov.2024) — The Montney Shale, nestled within Canada’s Western Canada Sedimentary Basin (WCSB), is emerging as a key player in North America’s unconventional oil and gas sector. This prolific resource has long been a cornerstone for Canadian energy giants—ARC Resources, Canadian Natural Resources Limited (CNRL) […]
Ecopetrol Eyes Investing 24tn-28tn Pesos in 2025
(Ecopetrol, 29.Nov.2024) — Ecopetrol S.A. announces that the Board of Directors approved the annual investment budget of the Ecopetrol Group for 2025 for an amount between 24tn and 28tn Colombian pesos, in line with the strategy, this annual budget increases investment levels compared to 2024, under capital discipline criteria and […]
Pemex Denies “Freezing” Contracts with Service Providers
(Energy Analytics Institute, 28.Nov.2024) — PetrĂłleos Mexicanos (Pemex), in response to local media reports, said it is not “freezing” contracts with service providers. Pemex said 28 Nov. 2024 in an official statement that its subsidiary Pemex Exploration and Production (PEP) had requested “a temporary suspension of publication processes related to contracting […]
PAE Issues Reservation Notice to Golar LNG for FLNG HilliÂ
HOUSTON, TEXAS (Aaron Simonsky, Energy Analytics Institute, 30.Oct.2024) — Pan American Energy (PAE) issued a reservation notice in Oct. 2024 reserving the floating liquefied natural gas (FLNG) ‘Hilli’ to PAE and Golar LNG’s liquefaction project in Argentina. This reservation notice ends Golar’s option to nominate an alternative FLNG vessel to […]
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Petrobras Reveals Tartaruga Field Teaser [PDF Download]
(Energy Analytics Institute, 27.Nov.2024) — Petrobras commenced the teaser stage for the transfer of its 25% minority stake in the Tartaruga Field, located in the town of Pirambu-SE, in shallow waters of the Sergipe-Alagoas Basin, operated by SPE TiĂŞta (PetrorecĂ´ncavo). Petrobras’ share of production from the Tartaruga Field, considering the […]
Petrobras Inks HOA with Danish Company
(Energy Analytics Institute, 27.Nov.2024) — Petrobras signed a Heads of Agreement (HOA) with the Danish company European Energy—which develops, builds and operates renewable energy assets, including solar and wind generation projects, as well as green hydrogen-based solutions—to structure a business partnership to implement a commercial-scale e-methanol plant in Brazil. The […]
Trump’s 25% tariff to impact GM, Stellantis and Ford
MEXICO CITY, MEXICO (Pietro D. Pitts, Energy Analytics Institute, 27.Nov.2024) — A plan by US president-elect Donald Trump to impose a 25% tariff on Mexican imports into the US would impact three key US automakers — GM, Stellantis and Ford — and result in a massive loss of employment, Mexico’s […]
Pemex Credit Metrics Continue to Weaken, Moody’s Warns
(Pietro D. Pitts, Energy Analytics Institute, 27.Nov.2024) — The credit metrics for state-owned PetrĂłleos Mexicanos or Pemex (B3 negative) continue to weaken, according to Moody’s Rating. This, as free cash flow (FCF) negative Pemex eyes its loss-making refining business to increase production of fuel at the expense of limiting investment […]
Aikido on First Floating Offshore Wind Platform
(Energy Analytics Institute, 26.Nov.2024) — Aikido Technologies, Inc., a floating offshore wind technology provider, announced that Chet Morrison Contractors, LLC has completed the fabrication of the Aikido One platform. Morrison, on behalf of Aikido, has performed the final structural assembly of the platform in less than 40 working hours, establishing […]
Sheinbaum Responds to Trump, Comments on Tariff War
(Pietro D. Pitts, Energy Analytics Institute, 26.Nov.2024) — Mexico’s President Claudia Sheinbaum Pardo responded to accusations made by US president-elect Donald Trump about Mexico regarding immigration and fentanyl trafficking. She also responding to Trump’s threats to impose 25% tariffs on imports from Mexico, as well as Canada, while also warning […]
New Fortress Updates on Financing for $2.7bn
(Energy Analytics Institute, 26.Nov.2024) — New Fortress Energy Inc. completed the first of two steps of its $2.7bn issuance of new senior secured notes due Nov. 2029. The first step completed was the funding of $1.2bn new senior secured notes, New Fortress said 26 Nov. 2024 in an official statement. The […]
Mexican Firms Tap AWS Partners for Cloud Transformation
(Energy Analytics Institute, 26.Nov.2024) — Demand for AWS services is growing in Mexico as enterprises in many industries move workloads to the cloud to take advantage of AI and cloud-native applications, according to Information Services Group (ISG), a technology research and advisory firm. “Digital transformation is a growing trend in […]
Race for LatAm offshore wind energy starting: Brazil, Chile, Colombia, and Uruguay
BOGOTA, COLOMBIA (By Margarita Nieves-Zárate, Energy Analytics Institute, 26.Nov.2024, Words: 1,083) — The race for offshore wind energy in Latin America is just starting. According to the Global Wind Energy Council (GWEC), Latin America has significant potential for wind energy growth, driven by rising energy demands and a commitment to […]
TotalEnergies Accelerates Decarbonization at La Mède
(TotalEneriges, 25.Nov.2024) — In line with its 2030 ambition to decarbonize the hydrogen used in its European refineries, TotalEnergies has joined forces with Air Liquide to produce renewable hydrogen at La Mède in southeast France. This new project complements the Masshylia project to produce green hydrogen by electrolysis led by […]
TotalEnergies on Investments Related to Adani Group in India
(TotalEneriges, 25.Nov.2024) — TotalEnergies has learnt through public announcements made by the US authorities of the indictment of certain individual Adani group executives in relation to an alleged corruption scheme linked to the business of Adani Green Energy Limited (AGEL). This indictment does not target AGEL itself, nor any AGEL […]
$2mn Carbon Investment Supports Family Ranch in Montana
(The Climate Trust, 25.Nov.2024) — The Climate Trust, a carbon market nonprofit, finalized a $2mn investment alongside Inlandsis Fund, a carbon finance fund, in a pair of grassland conservation carbon projects that span nearly 38,000 acres in Southeast Montana. The investment provides critical funding to support ongoing ranch management activities, […]
Rivian Receives Conditional Commitment for up to $6.6bn
(Rivian, 25.Nov.2024) — American all-electric automaker Rivian Automotive received conditional commitment from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing (ATVM) Loan Program for a loan of up to $6.6bn (including $6bn of principal and approximately $600mn of capitalized interest) to accelerate its growth and leadership of electric vehicle […]
First RSPO IP-Certified Sustainable Palm Oil Shipped to China
(ROSP, 25.Nov.2024) — The very first shipment of RSPO Certified Sustainable Palm Oil (CSPO) arrived at the Shanghai port today. This pioneering effort was spearheaded by Inner Mongolia Yili Industrial Group, Asia’s leading dairy brand and one of the top five globally, in partnership with Yihai Kerry Arawana Holdings Co., […]
Plus Power Battery Project Wins New Mexico Award
(Plus Power, 25.Nov.2024) — Plus Power announced that its 150 MW / 600 MWh Corazon Energy Storage project was awarded a 20-year contract by Public Service Company of New Mexico (PNM), subject to regulatory approvals, in response to the utility’s 2026-2028 Generation Resources Request for Proposals. The RFP was issued in […]
Guyana’s Pick of US Startup Faces Hurdles to Tap Vast Gas Reserves
(Reuters, 25.Nov.2024) — Guyana’s dreams of developing its vast natural gas resources are stuck on the drawing board five months after it picked a little-known U.S. startup, Fulcrum LNG, to develop an export project that could cost up to $30 billion. Guyana has one of the fastest-growing economies in the […]
Petrobras Eyes Ethanol Sector
(Energy Analytics Institute, 23.Nov.2024) — Petrobras plans to enter the ethanol sector preferably through minority strategic partnerships or shared control with relevant players in the segment. To this end, Petrobras said 23 Nov. 2024 in an official statement that business possibilities will be analyzed and potential partners prospected. “After these […]
Eni Launches Hull of Nguya FLNG in China
(Energy Analytics Institute, 23.Nov.2024) — Italy’s energy giant Eni launched the hull of the Nguya Floating Liquefied Natural Gas (FLNG) facility in Wison‘s shipyard in Nantong, China. In Congo’s Lingala language, “Nguya” means strength, energy, and the ability to deliver projects effectively, reflecting the company’s achievements through its partnership with […]
Mexico Alters its Laws and Removes Chinese Parts
(AP, 23.Nov.2024) — Mexico has been taking a bashing lately for allegedly serving as a conduit for Chinese parts and products into North America, and officials here are afraid a re-elected Donald Trump or politically struggling Canadian Prime Minister Justin Trudeau could try to leave their country out of the […]
Argentina’s Vaca Muerta shale formation: a game-changer in the making
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 23.Nov.2024) — The Vaca Muerta shale formation in Argentina’s NeuquĂ©n Basin isn’t just another oil and gas formation, it’s the crown jewel of the South American country’s energy future. Often compared to U.S. shale heavyweights like the Permian and Bakken, Vaca Muerta […]
Indonesia’s Tangguh LNG project reaches $7bn FID
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 22.Nov.2024, Words: 259) — The joint venture (JV) partners of the Tangguh LNG Project led by bp, the project operator, have reached a Final Investment Decision (FID) on the Tangguh Ubadari, CCUS, Compression (UCC) Project, a $7bn initiative. Tangguh LNG will have a […]
LatAm NRG matters: highlights, heard for the week ended 22 Nov. 2024
HOUSTON, TEXAS (Energy Analytics Institute, 22.Nov.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 22 Nov. 2024. LATIN AMERICA AND THE CARIBBEAN —Argentina: In Oct. 2024, Argentina exported $817mn in fuel and energy, accumulating $7,995mn in the first 10 mths of 2024.
ConocoPhillips Completes its Purchase of Marathon Oil
(Energy Analytics Institute, 22.Nov.2024) — ConocoPhillips completed its acquisition of Marathon Oil Corporation. “This acquisition of Marathon Oil is a perfect fit for ConocoPhillips, adding to our deep, durable and diverse portfolio while meeting our strict financial framework,” ConocoPhillips chairman and CEO Ryan Lance said 22 Nov. 2024 in an […]
Golden Minerals Closes Yoquivo Project Divestment
(Energy Analytics Institute, 22.Nov.2024) — Golden Minerals Company closed on the sale of its Yoquivo gold-silver project located in Chihuahua State, Mexico. The buyer, Advance Metals Limited, is an ASX-listed entity focused on the acquisition, discovery, and advancement of high-quality metals projects, Golden Minerals said 22 Nov. 2024 in an official […]
Coterra Rides Permian Consolidation Wave
(East Daley Analytics, 22.Nov.2024) — Coterra Energy (CTRA) is expanding its foothold in the northern Delaware Basin, acquiring assets of Franklin Mountain Energy and Avant Natural Resources in separate agreements valued at $3.95bn. The two deals could put up to 4 rigs in play for midstream companies serving the producers, […]
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Petrobras Approves Business Plan 2025-2029 [PDF Download]
(Petrobras, 21.Nov.2024) — Petrobras‘ Board of Directors approved, at a meeting held today, the Strategic Plan 2050 (SP 2050) and the Business Plan 2025-2029 (BP 2025-29). During the development of the Plans, the Board of Directors took part in discussions with the technical areas and the Executive Board, leading to […]
Southern Power Reveals Expansion at Millers Branch Solar Facility in Texas
(Energy Analytics Institute, 21.Nov.2024) — Southern Company subsidiary Southern Power announced an additional expansion of its 29th solar project — Millers Branch Solar Facility. The Phase III expansion will account for an added 132-megawatts (MW) from the previous Phase I and Phase II expansion of 200 MW and 180 MW respectively. […]
Petrobras BODs Approves Remuneration to Shareholders
(Petrobras, 21.Nov.2024) — Petrobras‘ Board of Directors approved the payment of extraordinary dividends in the amount of R$20bn, equivalent to R$1.55174293 per common and preferred share in circulation, with R$15.6bn as intermediate dividends based on the capital remuneration reserve, and R$4.4bn as interim dividends. The proposed distribution is aligned with […]
Pennybacker Closes Purchase Miami LNG Business from New Fortress
(Aaron Simonsky, Energy Analytics Institute, 21.Nov.2024) — Pennybacker Capital Management, LLC, a real assets investment manager, completed the acquisition of the small-scale Florida-based liquefied natural gas production and distribution business (Miami LNG business) from New Fortress Energy. The Miami LNG business is a strategically located liquefaction operation, equipped with one […]
Henry Hub, JKM and TTF Inch Higher
(Energy Analytics Institute, 21.Nov.2024) — The Henry Hub spot price rose 24 cents to $2.34 per million British thermal units (MMBtu) on 20 Nov. 2024 compared to $2.10/MMBtu on 13 Nov. 2024, according to the US-based Energy Information Administration (EIA). The weekly average front-month futures prices for liquefied natural gas […]
Trinidad Starts Onshore Wind Resource Assessment
(Energy Analytics Institute, 21.Nov.2024) — The Ministry of Energy and Energy Industries (MEEI) successfully deployed Light Detection and Ranging devices (LiDARs) to the areas of Orange Valley and Galeota, Trinidad and Tobago. These devices will measure wind data to international standards for a period of 12-18 months, under the renewable […]
Petrobras to Pay Remuneration to Shareholders
(Petrobras, 21.Nov.2024) — Petrobras, following up on the Material Fact of 8 Aug. 2024, will pay the first installment of the dividends approved by its Board of Directors in a meeting held on 8 Aug. 2024.  The gross amount to be distributed today is R$ 0.52660009 per ordinary and preferred […]
SBM Offshore completes $1.5bn FPSO Jaguar financing
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 21.Nov.2024) — SBM Offshore completed the project financing of the floating production storage and offloading (FPSO) vessel Jaguar for a price of $1.5bn. The project financing was fully secured by a consortium of 16 international financial institutions, SBM said 21 Nov. 2024 in […]
The Vaca Muerta Gas-export Plan is a Pipe Dream
(Reuters, 21.Nov.2024) — Natural gas production is booming in Argentina’s vast Vaca Muerta shale lands, but full pipelines and the government’s free-market approach to paying for new ones may prevent the country from becoming a major gas exporter by early next decade. About $58 billion worth of new or upgraded […]
High-impact Exploration Could Cut Scope 1 and 2 Emissions by 6% in 2030
(WoodMac, 21.Nov.2024) — Investment in oil and gas exploration has plummeted two-thirds in the last decade, but the industry still has a critical role to play in decarbonisation efforts and providing advantaged barrels in the energy transition, according to the latest Horizons report from Wood Mackenzie. According to the report, […]
“LatAmNRG matters” podcast: Roberto Salinas LeĂłn on narco candidates, El Chapo [audio]
MEXICO CITY, MEXICO (Pietro D. Pitts, Energy Analytics Institute, 20.Nov.2024, Words: 148) — Mexico Business Forum head Roberto Salinas LeĂłn spoke with Pietro D. Pitts—for his Podcast “LatAmNRG Matters”—about Mexico: US-Mexico bilateral trade, the USMCA, El Chapo, a good and bad PetrĂłleos Mexicanos (Pemex), Pemex being the equivalent to a […]
Generation Mining Completes Optimization Work
(Generation Mining, 20.Nov.2024) — Generation Mining Limited provided an update on the project optimization work previously announced on 6 Jun. 20242 on the Marathon Palladium-Copper Project in Northwestern Ontario. The optimization work focused on two key aspects: (1) optimization of the mine plan to maximize metal production and defer waste […]
ExxonMobil Withdraws from Suriname Block 52
(Piero Stewart, Energy Analytics Institute, 20.Nov.2024) — ExxonMobil Exploration & Production Suriname B.V. formally notified Suriname’s state-owned Staatsolie that it will withdraw from Suriname offshore Block 52 with an effective date of 14 Nov. 2024. The withdrawal is part of ExxonMobil’s ongoing evaluation of assets in its global portfolio, Staatsolie said […]
Sheinbaum Targeting 2.3% Economic Growth for Mexico
(Energy Analytics Institute, 20.Nov.2024) — Mexico’s President Claudia Sheinbaum Pardo said the country’s economy would expand by 2.3%. “We are estimating economic growth of around 2.3%,” Sheinbaum said 20 Nov. 2024 during her daily mañanera briefing with the media. While her doubters say it is not possible, Sheinbaum reiterated that […]
BW LPG Takes Delivery of BW Capella Vessel from Avance Gas
(Energy Analytics Institute, 20.Nov.2024) — BW LPG Limited took delivery of vessel BW Capella on 20 Nov. 2024 from Avance Gas Holdings Ltd. The announcement follows on the 14 Aug. 2024 announcement from BW LPG regarding the acquisition of 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas Holdings […]
Fact sheet: $18.4bn Rio Grande LNG project and headwinds
HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 20.Nov.2024, Words: 250) — Rio Grande LNG (RGLNG) is a LNG export facility located in Brownsville, Texas. At full development RGLNG is expected to deliver 27 million metric tonnes per annum (MTPA) of LNG. The RGLNG proposal will supply a more sustainable […]
Chile’s SQM Reports 3Q:24 Results
(Energy Analytics Institute, 20.Nov.2024) — Sociedad QuĂmica y Minera de Chile S.A. reported a net loss for the nine months ended 30 Sep. 2024, of ($524.5)mn or ($1.84) per share, compared to $1,809.5mn or $6.33 per share reported for the same period last year. Gross profit reached $1,033.3mn (29.9% of revenues) […]
ATCO and CPKC Finish Construction of Hydrogen Stations in Alberta
(CPKC, 20.Nov.2024) — Canadian Pacific Kansas City (CPKC) and ATCO EnPower, a division of Canadian Utilities Limited said construction of hydrogen production and refuelling facilities in Calgary and in Edmonton is now complete and the facilities are fully operational. As part of its innovative Hydrogen Locomotive Program, CPKC is retrofitting a […]
![Ecopetrol Presents Climate Change Report [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2024/11/iguana-source-ecopetrol.png)
Ecopetrol Presents Climate Change Report [PDF Downloads]
(Ecopetrol, 20.Nov.2024) — Ecopetrol S.A. published its fourth TCFD report covering developments from 2023 and the first-half 2024. The report highlights progress in strengthening climate-related risk and opportunity management processes through discussions on Governance, Strategy, Risks and Metrics and Targets. Consistent with international best practices, the Ecopetrol report was published […]