(Ecopetrol, 12.Nov.2024) — For the nine months of 2024 (9M24), the Ecopetrol Group has proved once again its ability to overcome challenges and turn them into opportunities through determination and resilience. Despite a defiant global environment, marked by fluctuations in international oil prices and adjustments in global supply and demand, […]
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.
Sources Say Exxon to Sell Older Permian Assets to Hilcorp in $1bn Deal
(Reuters, 12.Nov.2024) — Top U.S. oil producer Exxon Mobil Corp. has agreed to sell conventional oil drilling assets in the Permian Basin of Texas and New Mexico to privately-owned Hilcorp Energy for around $1 billion, four sources familiar with the matter told Reuters. The deal follows a trend of U.S. oil […]
GeoPark and Hocol Confirm Finds, Exploration Progress in Llanos Basin Blocks
(GeoPark, 12.Nov.2024) — GeoPark announces the achievements made in 2024 together with its partner Hocol, a subsidiary of the Ecopetrol Group, in the joint exploration of the Llanos 86, Llanos 87, Llanos 104, Llanos 124 and Llanos 123 blocks in the Llanos basin, Colombia. Llanos 123 Block discoveries and delimitation […]
Oxy Reports 3Q:24 Results, Updates on OxyChem (PDF Downloads)
(Oxy, 12.Nov.2024) — Occidental announced net income attributable to common stockholders of $964mn, or $0.98 per diluted share and adjusted income attributable to common stockholders of $977mn, or $1.00 per diluted share for the third quarter of 2024. “Strong operational performance across all segments has resulted in our highest quarterly […]
TechnipFMC bags iEPCI contract for TotalEnergies’ GranMorgu offshore Suriname
HOUSTON, TEXAS (Piero Stewart, Energy Analytics Institute, 14.Nov.2024, Words: 226) — Technology provider TechnipFMC has been awarded a major integrated Engineering, Procurement, Construction, and Installation (iEPCI) contract by TotalEnergies for its GranMorgu project on Block 58 offshore Suriname. TechnipFMC classifies a “major” contract as one with a value that exceeds […]
Cheniere Publishes Updated Peer-Reviewed LNG Life Cycle Assessment
(Cheniere, 12.Nov.2024) — Cheniere Energy, Inc. announced the publication of an updated life cycle assessment (LCA) study for greenhouse gas (GHG) emissions intensities of the company’s liquefied natural gas (LNG). This peer-reviewed study includes a novel gas-pathing algorithm that further improves the modeling of GHG emissions across Cheniere’s supply chain, […]
Nuvve Provides 3Q:24 Financial Update
(Nuvve Holding Corp., 12.Nov.2024) — Nuvve Holding Corp., a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform that enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, today provided a third quarter 2024 […]
ADNOC Gas Reports Strong 3Q:24 Results; BODs Approves Strategy Update
(ADNOC, 11.Nov.2024) — ADNOC Gas plc and its subsidiaries announced strong earnings for the third-quarter 2024 (3Q:24), with net income increasing 11% year-on-year (YoY) to $1.24bn, beating Bloomberg consensus for the quarter. The announcement of the company’s 3Q:24 results coincides with ADNOC Gas’ Board of Directors approval of an updated […]
Copec Launches Gogoro Battery Swapping and Smartscooters in Chile
(Gogoro, 11.Nov.2024) — Gogoro Inc., involved in battery-swapping ecosystems that enable sustainable mobility solutions for cities and Copec, a Latin American energy company, announced they were launching the first two-wheel battery swapping platform and Smartscooters in Chile. “It is exciting to see the Gogoro ecosystem expanding in Latin America, first […]
Petrobras Commences Commercial Operations UPGN in Rio de Janeiro
(Energy Analytics Institute, 11.Nov.2024) — PetrĂłleo Brasileiro S.A. (Petrobras) said the Natural Gas Processing Unit (UPGN), located at the Boaventura Energy Complex (ItaboraĂ, RJ) commenced commercial operation. The UPGN is currently operating with its first module, which has the capacity to process 10.5 million mÂł/day (MMcm/d) of gas, Petrobras revealed 11 […]
‘Micro-Documentaries’ Sound the Climate Alarm for Global South at COP29
(Rockefeller Foundation, 11.Nov.2024) — As part of Human Development, Children and Youth, Health, and Education Day at the United Nations Climate Change Conference in Baku, Azerbaijan (COP29), a new series of micro-documentaries highlighting the effects of the climate crisis and its disproportionate impact on the Global South has been released, […]
Noble Announces Major Shareholder Notification
(Energy Analytics Institute, 11.Nov.2024) — Pursuant to Section 30 of the Danish Capital Markets Act, Noble Corporation plc announced receipt of a major shareholder notification from First Eagle Investments Management, LLC. First Eagle notified Noble on 8 Nov. 2024 that, as of 5 Nov. 2024, the First Eagle holdings of shares […]
Hot Chili Adds La Verde Cu Mine to its Costa Fuego Coastal Copper Hub
(Hot Chili Limited, 11.Nov.2024) — Hot Chili Limited entered into a three-year Option Agreement to acquire a 100% interest in the historical La Verde open pit copper mine. La Verde is located in the core of the historical Domeyko mining district and lies approximately 30 km south of the company’s […]
Petrobras Starts Commercial Operation of Boaventura Energy Complex’s NGPU
(Petrobras, 11.Nov.2024) — Since 10 Nov. 2024, the Natural Gas Processing Unit (NGPU), situated at the Boaventura Energy Complex (ItaboraĂ, RJ), has been commercially operating its first module, which is capable of processing 10.5 million mÂł/day. Once the second module becomes operational, probably by the end of the year, the […]
Touchstone reports on Cascadura test well results
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 11.Nov.2024, Words: 893) — Touchstone Exploration Inc. announces the completion of Cascadura-2ST1 and Cascadura-3ST1 well testing. Highlights
RSPO Roundtable Calls for Bold, New Approaches to Transform Sustainable Palm Oil
(Roundtable On Sustainable Palm Oil, 11.Nov.2024) — Building upon two decades of impact, the Roundtable on Sustainable Palm Oil (RSPO) has called for more concerted efforts to scale innovation and drive transformative and systemic change within the sector. Supported by Thailand’s Ministry of Agriculture and Cooperatives, the RSPO’s Annual Roundtable […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 8 Nov. 2024
(Energy Analytics Institute, 8.Nov.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 8 Nov. 2024. —Argentina: YPF execs. met in Buenos Aires w/ the Chancellor of Hungry to discuss the Argentina LNG project. —Ecuador: Ecuador is looking to acquire 195MW from private cos. in […]
Fitch Maintains Ecopetrol’s Overall Credit Rating at BB+
(Energy Analytics Institute, 8.Nov.2024) — Fitch Ratings on 6 Nov. 2024 revealed that its was maintaining its global credit rating for Ecopetrol at BB+ with a stable outlook. However, Fitch, in a report on Ecopetrol and Colombia, downgraded the Standalone Credit Profile (“SCP”) from ‘bbb’ to ‘bbb-‘ while it affirmed the national long-term and short-term ratings of Ecopetrol at ‘AAA […]
Argentina’s YPF advances VMOS and Oldelval pipeline projects
MEXICO CITY, MEXICO (Pietro D. Pitts, Energy Analytics Institute, 8.Nov.2024) — State-owned YPF SA continues to advance various midstream projects on Argentina’s Atlantic coast, in particular the 2 tranche Vaca Muerta South (VMOS) and the Oldelval pipeline. Work on VMOS has reached the 50% mark.
Woodside Awards Contract to Karratha-based Winyama Contracting
(Woodside, 8.Nov.2024) — Woodside (Woodside Burrup Pty Ltd.) has awarded its largest-ever Traditional Owner construction contract to Karratha company Winyama Contracting Group for the delivery of civil works for the Pluto Train 1 Modifications project. Winyama Contracting Group will be working alongside Kellogg Brown & Root Pty Ltd, Woodside’s Engineering […]
YPF Reports 3Q:24 Results (PDF Downloads)
(YPF, 8.Nov.2024) — Argentine state-owned YPF SA reported third-quarter 2024 financial and operational results, including details related to shale production in Argentina, Capex, the Vaca Muerta South project, and exports to Chile. ____________________
EXMAR Reports 3Q:24 Results, Opens EXMAR LPG France (PDF Download)
(EXMAR, 8.Nov.2024) — EXMAR NV reported its third-quarter 2024 results and provided an operational update related to the company opening a new French entity, EXMAR LPG France, which will own and operate 6 newbuild dual fuel LPG/NH3 Midsize Gas Carriers (MGC), being constructed at HMD MIPO dockyard in Korea. ____________________
Petrobras Comments on Shareholder Remuneration
(Petrobras, 7.Nov.2024) — Petrobras informs that its Board of Directors (CA), in a meeting held today, approved the payment of interim dividends in the amount of R$ 17.12bn, equivalent to R$ 1.32820661 per common and preferred share in circulation, as an anticipation of the remuneration to shareholders related to the […]
KBR Wins FEED Contract for Sur LNG Train 4 Project in Oman
(Energy Analytics Institute, 7.Nov.2024) — KBR has been awarded a front-end engineering design (FEED) contract for the expansion of the Qalhat LNG complex in Sur, Oman. Under the FEED contract, KBR will provide engineering services for the complex’s fourth LNG train, which will have a capacity of 3.8 million tons […]
Flex LNG Secures TC Extension for Flex Courageous and Flex Resolute
(Flex LNG, 7.Nov.2024) — Flex LNG Ltd agreed with the Charterer of Flex Courageous and Flex Resolute, a Supermajor, to amend the existing Time Charter Agreements (“TC”) for the two LNG carriers where the parties have agreed a new firm period from 2029 to 2032 which may be extended by […]
ADIPEC 2024: Looking to Accelerate Sustainable Socioeconomic Progress
(DMG Events, 7.Nov.2024) — ADIPEC 2024 has cemented its position as one of the world’s most influential and commercially successful energy events, with a record number of attendees, industry executives and international ministers uniting to accelerate sustainable socioeconomic progress for the world. Highlights: Held under the theme of ‘Connecting Minds. […]
DXT Commodities Delivers First MedMax LNG Cargo to Asia
(DXT Commodities, 7.Nov.2024) — A ceremony graciously hosted by Dongguan Daosen marked a number of milestones for the partners involved, Shenzhen Gas (via its subsidiary Sino-Benny LPG), DXT Commodities, Hartree Partners and Dongguan Energy (via its subsidiary Dongguan Daosen Natural Gas), in bringing the Dapeng Princess and her cargo from […]
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Adaptation Gap Report 2024 [PDF Download]
(UNEP, 7.Nov.2024) — As climate impacts intensify and hit the world’s poorest, The Adaptation Gap Report 2024: Come hell and high water finds that nations must dramatically increase climate adaptation efforts, starting with a commitment to act on finance. The report finds that progress in adaptation financing is not fast enough […]
Petrobras Reveals 3Q:24 Financial Performance (PDF Download)
(Petrobras, 7.Nov.2024) — Petrobras Chief Financial and Investor Relations Officer Fernando Melgarejo commented on the Brazilian company’s financial performance in the third-quarter 2024. “In this third quarter of 2024, we achieved consistent financial results amid a context of declining Brent prices, which we were able to offset with higher sales […]
APA Eyes Impressive Production Ramp-up Offshore Suriname
(Energy Analytics Institute, 6.Nov.2024) — APA Corporation has entered the development phase of its large-scale GranMorgu oil project offshore Suriname in Block 58 where the company says there are additional exploration opportunities. “We also achieved an important milestone in Suriname with the announcement of GranMorgu, the first offshore development in […]
Frontera Reports 3Q:24 Results, Updates on LatAm Portfolio (PDF Download)
(Frontera, 6.Nov.2024) — Frontera Energy Corporation reported financial and operational results for the third quarter ended 30 Sep. 2024. All financial amounts in this news release are in United States dollars, unless otherwise stated. Gabriel de Alba, Chairman of the Board of Directors, commented: “Frontera remains focused on the execution […]
CFE eyes investments of $23.4bn between 2024-2030
MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 6.Nov.2024) — Mexico’s Federal Electricity Commission (CFE) has its eyes set on a historic investment of $23.4bn between 2024-2030, according to the state-owned agency’s head Emilia Esther Calleja. The details were reveal 6 Nov. 2024 by Esther her participation in an early morning […]
Petrobras Ends Petrobras BiocombustĂvel (PBio) Divestment Project
(Energy Analytics Institute, 6.Nov.2024) — Petrobras‘ Executive Board approved the end of the divestment project of its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBio), which will be retained within the company’s portfolio. This decision is in line with Petrobras’ current strategic guidelines which takes into account the company’s low-carbon businesses, profitably […]
Energy Transfer Reveals 3Q:24 Results, Updates on Ammonia Hub (PDF Downloads)
(Energy Transfer, 6.Nov.2024) — Energy Transfer LP revealed its third-quarter 2024 results including details related to development of a large-scale LNG export facility at existing Lake Charles LNG regasification terminal as well as a ammonia hub concept at Lake Charles, LA and Nederland, TX that would provide infrastructure services to […]
Sinopec’s First Geothermal Power Production Pilot Project Connects to Grid
(Sinopec, 6.Nov.2024) — Sinopec Star Co., Ltd., a clean energy subsidiary of China Petroleum & Chemical Corporation, has received  the grid access permit for its medium and deep geothermal power generation pilot project in Xianyang, Shaanxi Province, which is officially connected to the grid to produce power. The project, which […]
APA Corp. Reveals 3Q:24, Comments on Suriname, Permian
(APA, 6.Nov.2024) — APA Corporation announced its financial and operational results for the third quarter of 2024. Key Takeaways APA reported a loss attributable to common stock of $223mn or $0.60 per diluted share, which was primarily driven by non-cash impairments of assets in the U.K. and assets held for […]
Sempra Says ECA LNG Progressing, to Start in Spring 2026
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 6.Nov.2024) — Sempra Infrastructure and its Mexican subsidiary, Infraestructura EnergĂ©tica Nova (IEnova), continue to move forward with EnergĂa Costa Azul (ECA) LNG Phase 1. Sempra Infrastructure said that construction at ECA LNG Phase 1 has progressed, and commercial operations are still slated […]
Bristow and Leonardo Finalize Agreements for AW139 and AW189 Helicopters
(Bristow, 6.Nov.2024) — Bristow Group Inc. and Leonardo finalized a series of long-term agreements that will enhance global fleet support and training for the AW139 and AW189 helicopters, extending into the next decade. These agreements reinforce the strong relationship between the two companies and provides continued support for operations in […]
Sempra Sees Completion of Rosarito Expansion Pipeline in 4Q:24
(Energy Analytics Institute, 6.Nov.2024) — Sempra Infrastructure said the long-awaited Gasoducto Rosarito Expansion Pipeline (GRO by its Spanish acronym) is expected to reach commercial operations in the fourth-quarter 2024 (4Q:24). GRO will support natural gas supply to EnergĂa Costa Azul (ECA) LNG Phase 1, Sempra announced 6 Nov. 2024 in […]
Sempra Reports 3Q:24 Results (PDF Download)
(Sempra, 6.Nov.2024) — Sempra reported third-quarter 2024 earnings, prepared in accordance with generally accepted accounting principles (GAAP), of $638mn, or $1 per diluted share, compared to third-quarter 2023 GAAP earnings of $721mn, or $1.14 per diluted share. On an adjusted basis, the company’s third-quarter 2024 earnings were $566mn, or $0.89 […]
Marathon Oil Reports 3Q:24 Results
(Marathon, 6.Nov.2024) — Marathon Oil Corporation reported third-quarter 2024 (3Q:24) net income of $287mn or $0.51 per diluted share, which includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. Adjusted net income was $360mn or $0.64 per diluted […]
Borr Drilling Reveals 3Q:24 Results
(Borr Drilling, 6.Nov.2024) — Borr Drilling Limited announced unaudited results for the three and nine months ended 30 Sep. 2024. Highlights CEO, Patrick Schorn commented: “The operational performance in the third quarter was solid, with a technical utilization rate of 98.7% and an economic utilization rate of 96.9%. As expected, […]
SSR Releases 3Q:24 Results, Updates on Çöpler Incident
(SSR Mining, 6.Nov.2024) — SSR Mining Inc. reported financial results for the third-quarter 2024 (3Q:24), as well as an update on the 13 Feb. 2024 incident at the Çöpler mine. Following the Çöpler Incident, the company focused on four key priorities: (1) the recovery of our missing colleagues; (2) containment […]
ANALYSIS: Mexico and Canada aim to step up LNG efforts
HOUSTON, TEXAS (By Pietro D. Pitts, Energy Analytics Institute, 5.Nov.2024, Words: 750) — It’s another landmark moment for North American energy. That is, after Mexico shipped its madden LNG cargo this summer from a facility in Altamira, Mexico off the Atlantic coast. That shipment officially propelling the Latin American country […]
Noble Seeks Value after Diamond Deal, CEO Says
(Noble, 5.Nov.2024) — Noble Corporation plc, which closed the Diamond Offshore Drilling, Inc. acquisition on 4 Sep. 2024, is now looking to capture value, the company’s president and CEO Robert W. Eifler said. “We are excited to have closed on the Diamond acquisition during the third quarter, enabling us to start […]
Noble Reports 3Q:24 Results, Updates on Diamond (PDF Download)
(Noble, 5.Nov.2024) — Noble Corporation plc reported third-quarter 2024 (3Q:24) results. The company also announced an increased capital return program with additional share repurchase authorization of $400mn, and provided revenue, adjusted EBITDA and capital additions guidance for the 4Q:24 along with other details. ____________________
Petrobras Reveals 3Q:24 Webcast Schedule
(Energy Analytics Institute, 5.Nov.2024) — Petrobras has rescheduled for 2 p.m. the webcast to be held on 8 Nov. 2024 to present the company’s third-quarter 2024 results. The event will be presented in Portuguese and will have simultaneous translation into English. The release of the 3Q:24 Financial Performance Report is […]
Sinopec Hosts Session at 7th China International Import Expo
(Sinopec, 6.Nov.2024) — China Petroleum & Chemical Corporation hosted a forum titled “Building Global Energy Partnerships” and a signing ceremony at the 7th China International Import Expo (CIIE 2024) in Shanghai. The exhibition, running from 5-10 Nov. 2024, is focused on the global energy transition and fostering an open, green, […]
Nauticus Robotics Completes US GOM Survey Work for Shell
(Energy Analytics Institute, 5.Nov.2024) — Nauticus Robotics, Inc., which offers subsea robotics and software, successfully completed its initial 2024 Gulf of Mexico (GOM) survey scope for Shell plc‘s subsidiary Shell Exploration and Production, Inc. Successful completion of this work combined with the submission of a final report completes the initial […]
Touchstone Executes Rio Claro Block License
(Energy Analytics Institute, 5.Nov.2024) — Touchstone Exploration Inc.‘s wholly owned Trinidadian subsidiary Primera Oil and Gas Limited (POGL) executed on 4 Nov. 2024 an Exploration and Production (Public Petroleum Rights) license for the Rio Claro block. The Rio Claro License has been formally entered into by POGL, the Government of […]