(Reuters, 30.Oct.2024) — U.S. energy giant Exxon Mobil agreed on the terms and conditions to sell its oil and gas assets in Argentina’s Vaca Muerta formation to Pluspetrol, a source at Exxon Mobil said on Wednesday. Exxon will sell five blocks in Argentina’s western Neuquen province, home to Vaca Muerta, […]
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.
Marathon Oil Cuts 500 Houston Jobs
(Bloomberg, 30.Oct.2024) — Marathon Oil Corp. warned of a “mass layoff” involving more than 500 employees at its Houston headquarters as part of the $17 billion takeover by ConocoPhillips, according to state filings. The affected workers “may reasonably expect to experience a permanent loss of employment during the 12-month period” […]
Mexico’s Sheinbaum looks to reduce costs at state-owned energy giant Pemex
MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 30.Oct.2024) — Mexico’s President Claudia Sheinbaum Pardo said the main plan for state-owned Pemex was to make the company more efficient internally. Sheinbaum told the media that Pemex had three subsidiaries and 40 affiliates, which made it complex to administer the company.
Cheniere Reports 3Q:24 Results, Updates on Dividend (PDF Downloads)
(Cheniere, 30.Oct.2024) — Cheniere Energy, Inc. announced its financial results for the third quarter 2024 as well as details around producing and loading its 1,000th LNG cargo, its dividend, comprehensive capital allocation plan, voluntary, measurement-informed Scope 1 methane emissions intensity target for its liquefaction facilities. ____________________
Mero 3 FPSO Starts Production in Libra Pre-salt Offshore Brazil
(Energy Analytics Institute, 30.Oct.2024) — Brazil’s state-owned Petrobras announced that on 30 Oct. 2024 the Marechal Duque de Caxias platform ship (Mero 3) has started producing oil and gas in the Mero field located in the Libra Block in the Santos Basin’s pre-salt layer. Nero 3 can produce up to […]
JinkoSolar on Annual Capacities: Solar Cell and Solar Module
(Energy Analytics Institute, 30.Oct.2024) — JinkoSolar Holding Co., Ltd. expects its annual production capacity for mono wafer, solar cell and solar module to reach 120.0 GW, 95.0 GW and 130.0 GW, respectively, by year-end 2024, the company announced 30 Oct. 2024 in its 3Q:24 financial and operational statement. Additionally, as of 30 Oct., […]
JinkoSolar Releases 3Q:24 Financial Results (PDF Downloads)
(JinkoSolar, 30.Oct.2024) — JinkoSolar Holding Co., Ltd., one of the largest and most innovative solar module manufacturers in the world, announced its unaudited financial results for the third quarter ended 30 Sep. 2024. ____________________
Seaway7 Awarded Offshore Wind Contract in UK
(Energy Analytics Institute, 30.Oct.2024) — Subsea7 announced the award to Seaway7, part of the Subsea7 Group, of a substantial contract by Ørsted for the transport and installation of the inter-array cables of the Hornsea 3 offshore wind project located in the UK sector of the North Sea. Subsea7 defines a […]
Hess says net production in Guyana in 3Q:24 rose 57% year-over-year
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 30.Oct.2024) — New York City-based Hess Corporation said its net production in the prolific Stabroek block offshore Guyana was 170,000 b/d in the third-quarter 2024 (3Q:24), up 57% year-over-year (YOY) compared to 108,000 b/d in the 3Q:23. Higher production in the 3Q:24 […]
Cheniere Sets Methane Emissions Intensity Target for its Liquefaction Assets
(Cheniere, 30.Oct.2024) — Cheniere Energy, Inc. has set a voluntary, measurement-informed Scope 1 annual methane intensity target for its liquefaction facilities. The Scope 1 methane target builds upon the Company’s robust climate strategy and leverages data from its multi-scale emissions measurement and mitigation programs. The methane target is consistent with […]
Petrobras Updates on Collective Action Judgement in the Netherlands
(Petrobras, 30.Oct.2024) — Petrobras, further to the Announcements to the Market of 29 Jan. 2020, 27 May 2021 and 26 Jul. 2023, hereby informs that the District Court of Rotterdam today handed down a favorable judgment on its main arguments in the collective action filed by the Stichting Petrobras Compensation […]
Hess Reports Higher 3Q:24 Adj. Net Income, Higher Bakken Output (PDF Download)
(Hess, 30.Oct.2024) — Hess Corporation reported net income of $498mn, or $1.62 per share, in the third quarter of 2024, compared with net income of $504mn, or $1.64 per share, in the third quarter of 2023. On an adjusted basis, the corporation reported net income of $660mn, or $2.14 per […]
Pemex Reveals 3Q:24 Results, 1.8 MMb/d Output Goal (PDF Downloads)
(Pemex, 29.Oct.2024) — During the third-quarter 2024 (3Q:24) Petróleos Mexicanos (Pemex) maintained its commitment to provide timely support for operations, employing resources responsibly and efficiently. The Exploration and Production strategy prioritized activities in shallow waters and onshore areas, primarily focusing on promoting the accelerated development of new fields and reducing […]
Canada’s Renewable Diesel Projects hit by US Import Surge
(Reuters, 29.Oct.2024) — Canadian renewable fuel producers are facing lower returns on new facilities due to a slump in British Columbia’s low carbon fuel standard (LCFS) credit market, a trend expected to persist amid a flood of exports from the United States. Weakness in British Columbia’s LCFS credit market reflects […]
EQT Divests Remaining Non-Operated Assets to Equinor
(Energy Analytics Institute, 29.Oct.2024) — EQT Corporation has entered into an agreement with Equinor USA Onshore Properties Inc. and Equinor Natural Gas LLC to sell its remaining interest in its non-operated natural gas assets in Northeast Pennsylvania. Production from the assets is expected to be around 350 MMcf/d net in […]
Chevron CEO Mike Wirth Visits Anchor Platform (Video)
(Chevron, 29.Oct.2024) — Chevron Corporation Chairman and CEO, together with CNBC, flew out to the U.S. Gulf of Mexico to visit the Anchor Platform to film a segment on Squawk on the Street and a full episode of Mad Money were broadcast live on October 24. ____________________
FACTSHEET: Chevron’s Anchor Platform
(Energy Analytics Institute, 29.Oct.2024) — Chevron Corporation revealed some key takeaways about its Anchor platform in the US Gulf of Mexico. Those takeaways include the following, Chevron said 29 Oct. 2024 in an official statement: — The resource potential at the platform is estimated to be up to 440 MMboe, — […]
Tecpetrol and Pampa Energía Move Forward with Plans for Bahía Blanca
(Energy Analytics Institute, 29.Oct.2024) — Vaca Muerta shale formation producers Tecpetrol and Pampa Energía are reportedly moving forward with plans to utilize the Bahía Blanca port area recently abandoned by state-owned YPF SA and its Malaysian counterpart Petronas in favor of another port at Río Negro. Tecpetrol, Argentina’s main shale […]
Equinor to Pay $1.25bn for EQT Interest in Northern Marcellus
(Energy Analytics Institute, 29.Oct.2024) — Equinor inked an agreement with EQT Corporation to acquire additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay $1.25bn to EQT in the transaction. Per the agreement, Equinor is acquiring 100% of EQT’s remaining working interest in Northern Marcellus gas […]
New Gold Announces Commercial Production at New Afton
(New Gold., 29.Oct.2024) — New Gold Inc. announced the completion of significant production milestones at the New Afton copper-gold mine in British Columbia and the Rainy River gold mine in Ontario. C-Zone, New Afton’s fourth block cave, achieved commercial production ahead of schedule with the materials handling system coming online […]
CNOOC Africa Inks EDPC with Midland Oil Company in Iraq
(Energy Analytics Institute, 29.Oct.2024) — CNOOC Limited’s wholly owned subsidiary, CNOOC Africa Holding Ltd., entered into an Exploration, Development & Production Contract (EDPC) with Midland Oil Company (Md.O.C) for Block 7 in Iraq. Block 7 is mainly located in Province Diwaniyah, with an area of 6,300 km2, CNOOC said 29 […]
Expand to Running 12 Rigs, to Drop 2 in 1Q:25 (PDF Downloads)
(Energy Analytics Institute, 29.Oct.2024) — Expand Energy Corporation is currently running 12 rigs (8 in Haynesville, 2 in Northeast Appalachia, and 2 in Southwest Appalachia) as well as 6 completion crews (3 in Haynesville, 2 in Northeast Appalachia, and 1 in Southwest Appalachia). And, under current market conditions, Expand expects […]
Pemex’ 3Q:24 production averaged 1.76 MMb/d, while debt falls to $97.3bn
MEXICO CITY, MEXICO (By Fidencio Casillas, Energy Analytics Institute, 29.Oct.2024) — Mexico’s state-owned Pemex reported average liquids and condensate production of 1,764 Mb/d in the third-quarter 2024, of which 549 Mb/d or 31% reportedly came from new developments. In an official statement related by Pemex on 29 Oct. 2024, the […]
EPA Selects PCCA as Clean Ports Program Grant Recipient
(PCCA, 29.Oct.2024) — The Port of Corpus Christi Authority (PCCA) has been selected to receive $105mn through the United States Environmental Protection Agency’s (EPA) Clean Ports Program to deploy zero-emissions equipment as a major step in reducing criteria air pollutants – those regulated by EPA because of health and environmental […]
Guy Mannino’s Leadership Puts Verdek at the Forefront of the EV Transition
(Verdek, 29.Oct.2024) — Our team had the opportunity to hear from one of the forerunners of EV infrastructure in the US, Guy Mannino. Considered a visionary leader in the field of sustainable transportation, with over three decades of experience in engineering, Mannino has dedicated his career to driving innovation in […]
Ecopetrol Announces Full Redemption of its Notes due 2026
(Ecopetrol, 29.Oct.2024) — Ecopetrol S.A. will redeem the outstanding balance of its 5.375% notes maturing in Jun. 2026 (CUSIP: 279158 AL3 / ISIN: US279158AL39) (the “2026 Notes”), which were issued in 2015. The outstanding balance of the 2026 Notes is $447,168,000. The expected redemption date of the 2026 Notes is […]
Electrification is the Accelerated Route to Energy Efficiency, Peak Emissions
(Wood Mackenzie, 29.Oct.2024) — The electrification of the energy system is the central plank of the energy transition. In Wood Mackenzie’s base case, displacing fossil fuels with more energy-efficient electricity leads to global emissions peaking in 2027 and subsequently falling by 35% through to 2050. Global final energy demand is […]
Constitutional reform to strengthen Pemex and CFE, Sheinbaum says
MEXICO CITY, MEXICO (By Piero Stewart, Energy Analytics Institute, 28.Oct.2024, Words: 185) — Mexico’s constitution reform is very important as it represents returning Pemex and the Federal Electricity Commission (CFE) to the Mexican people, Mexico’s president Claudia Sheinbaum Pardo told the media in Mexico City. To a certain point the […]
Egypt President Abdel Fattah el-Sisi Meets Eni CEO Claudio Descalzi
(Eni, 28.Oct.2024) — The President of the Arab Republic of Egypt, Abdel Fattah el-Sisi met today with Eni Chief Executive Officer Claudio Descalzi to follow up on Eni’s ongoing activities in the country and discuss areas of common interest and collaboration. Also in attendance were Egyptian Oil Minister Karim Badawi […]
Petrobras Reports 3Q:24 Output of 2.7 MMboe/d (PDF Download)
(Petrobras, 28.Oct.2024) — In 3Q:24, Petrobras‘ total production of oil, NGL and natural gas reached 2,689 Mboed, in line with 2QÑ24. The highlights were the production peak of FPSO Sepetiba, in the Mero field, with the start-up of 3 new producing wells, and the start-up of new wells in Búzios […]
Oil Cargo from Mexico en Route to Cuba Amid Power Crisis, Data Shows
(Reuters, 28.Oct.2024) — A tanker carrying about 400,000 barrels of oil departed from Mexico’s Pajaritos port and was on Monday en route to Cuba, where an acute energy crisis has left the island struggling to keep the lights on, shipping data showed. Cuba kept schools closed and non-essential workers home […]
Lower 48 LNG Exports to Reach 25.7 Bcf/d by Jan. 2030
(Energy Analytics Institute, 28.Oct.2024) — Assuming all the LNG export projects located in the Lower 48 that have taken a final investment decision (FID) and others expected to take FID go forward, the Lower 48 (including Mexican projects that utilize U.S. piped-gas) will have 28.5 Bcf/d of export capacity and […]
Sempra Earns Perfect Score on CPA-Zicklin Index
(Sempra, 28.Oct.2024) — Sempra has been recognized as a Trendsetter for the ninth consecutive year for its civic transparency by the Center for Political Accountability’s annual CPA-Zicklin Index of Corporate Political Disclosure and Accountability. Sempra received a perfect score of 100% and was named a “Model Code” company for demonstrating […]
Baker Hughes to Supply Petrobras with Flexible Pipe Systems
(Baker Hughes, 28.Oct.2024) — Baker Hughes announced significant contracts with Petrobras to provide 77 km of flexible pipe systems to be deployed in Brazil’s pre-salt fields. The agreement was signed 15 Oct. 2024, following an open tender. The multi-year project includes risers and flowlines for hydrocarbon production and associated gas […]
QatarEnergy and TotalEnergies to Partner in Solar Project in Iraq
(Energy Analytics Institute, 28.Oct.2024) — QatarEnergy inked a partnership agreement with the French oil giant TotalEnergies to enter into a solar power project that is part of the Gas Growth Integrated Project (GGIP) in Iraq. Per the agreement, which is subject to regulatory approvals, QatarEnergy will buy a 50% interest […]
CNOOC Reports Record High Net Production and Net Profit in 3Q:24
(CNOOC Limited, 28.Oct.2024) — CNOOC Limited and 80883 announces its operating results for the third quarter of 2024. In the first three quarters of 2024, CNOOC Limited continued to increase its reserves and production, while effectively controlling costs and enhancing efficiency. Net production and net profit rose remarkably year over […]
Power Nickel CEO Lynch Comments on Lion Zone Drilling Campaign
(Energy Analytics Institute, 28.Oct.2024) — Power Nickel Inc. announced the third set of assay results obtained for two more holes of the summer 2024 drilling campaign at its polymetallic Lion Zone discovery. “Today we announced the biggest intersection we have to date with 39.6 m of 4.19% CuEq. This is incredibly […]
Baker Hughes to Supply Petrobras with Flexible Pipe Systems
(Energy Analytics Institute, 28.Oct.2024) — Baker Hughes signed significant contracts with Brazil’s state-owned Petrobras to provide 77 km of flexible pipe systems to be deployed in Brazil’s pre-salt fields. The companies inked the agreements on 15 Oct. 2024, following an open tender. The multi-year project includes risers and flowlines for […]
New Fortress Completes 3rd Loading Offshore Altamira
(Energy Analytics Institute, 25.Oct.2024) — New Fortress Energy Inc.’s (NFE) initial Fast LNG unit completed its third cargo loading on 25 Oct. 2024. The cargo has been loaded onto the BW Pavilion and is setting sail for NFE’s operation in Puerto Rico, NFE said 25 Oct. in an official statement. […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 25 Oct. 2024
(Energy Analytics Institute, 25.Oct.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 25 Oct. 2024. —Argentina: Oil production reached 740.8 Mb/d in Sep. 2024, up 14.7% y-o-y, while gas production reached 147.1 MMcm/d, up 2.9% y-o-y, the Secretariat of Energy said. —Argentina: Argentine gas […]
Argentina Oil & Gas Patagonia: 25 Oct. Photo Journal
(Energy Analytics Institute, 25.Oct.2024) — Argentina Oil & Gas Patagonia 2024, under the organization of IAPG, took place from 23-25 Oct. 2024. What follows are photo-journalistic excerpts from the event. All photos are courtesy of IAPG. ____________________ By Editors at Energy Analytics Institute. © Energy Analytics Institute (EAI). All Rights […]
ONEOK awaiting Saguaro LNG 1 FID to proceed with pipeline project
HOUSTON, TEXAS (Ofelia Paredes, Energy Analytics Institute, 25.Oct.2024, Words: 146) — ONEOK Inc., which is looking to construct the Saguaro Connector Pipeline in Texas, said a final investment decision (FDI) is necessary to proceed with the potential pipeline project. “Mexico Pacific is currently working to complete project financing for its […]
enCore Energy Expanding Uranium Production at Alta Mesa Plant
(enCore Energy, 25.Oct.2024) — enCore Energy Corp., a uranium producer and America’s Clean Energy Company™, provided an update on the production ramp up at its South Texas Alta Mesa In-Situ Recovery (“ISR”) Uranium Central Processing Plant (“Alta Mesa CPP”) and Wellfield. The company has achieved an important milestone in the […]
Exxon Mobil, Qatar Get 3-year Extension to Build their LNG Plant in Texas
(Reuters, 25.Oct.2024) — Federal regulators on Thursday gave an Exxon Mobil and Qatar Energy LNG joint venture a 3-year extension to finish building their Golden Pass LNG plant, a regulatory document showed. The extension was granted due to delays caused when lead construction contractor Zachry Holdings filed for bankruptcy in […]
Borr Drilling Announces Certain Preliminary 3Q:24 Results, Mexican Impacts
(Borr Drilling, 25.Oct.2024) — Borr Drilling Limited announced certain preliminary unaudited results for the quarter ended 30 Sep. 2024. For the three months ended 30 Sep. 2024, the company expects: (i) total operating revenues of approximately $242mn, (ii) operating income of approximately $84mn, and (iii) Adjusted EBITDA of approximately $116mn. […]
NASA Welcomes Chile as Newest Artemis Accords Signatory
(NASA, 25.Oct.2024) — Chile signed the Artemis Accords during a ceremony hosted by NASA Administrator Bill Nelson at the agency’s headquarters in Washington, becoming the 47th nation and the seventh South American country to commit to the responsible exploration of space for all humanity. “Today we welcome Chile’s signing of […]
Venezuela’s energy minister Delcy Rodríguez talks energy during stop in New Delhi
PANAMA CITY, PANAMA (Energy Analytics Institute, 25.Oct.2024) — Venezuela’s Executive Vice President Delcy Rodríguez held a meeting with her Indian counterpart Jagdeep Dhankhar in New Delhi, India to evaluate the participation of the giant Asian country in the development and establishment of new joint projects in Venezuela. During her visit, […]
Petrobras Updates on Nitrogen Fertilizer Project
(Petrobras, 25.Oct.2024) — Petrobras‘ Board of Directors decided to continue implementing the Nitrogen Fertilizer Unit (UFN-III), located in Três Lagoas (MS). The decision is based on a careful re-evaluation of the project which, considering the premises of the Strategic Plan 2024-2028 (SP 2024-2028), had its economic attractiveness confirmed for this […]
CAF and O.N.E. Amazon to Promote Amazon Conservation
(O.N.E. Amazon, 25.Oct.2024) — In the context of COP16 in Cali, CAF and O.N.E. Amazon have joined forces to protect and conserve the Amazon rainforest, one of the most crucial and biodiverse natural ecosystems on the planet. The agreement establishes a framework for collaboration on an instrument that transforms the […]
Eni Reports 3Q:24 Financial Results (PDF Downloads)
(Eni, 25.Oct.2024) — Eni‘s Board of Directors, chaired by Giuseppe Zafarana, yesterday approved the unaudited consolidated results for the third quarter and nine months of 2024. Eni CEO Claudio Descalzi said: “In Q3, by delivering a performance ahead of expectations, we have again demonstrated the resilience of our business model […]