(Ecopetrol, 8.Oct.2024) — Ecopetrol S.A. announced commencement of a cash tender offer (the “Offer”), to purchase any and all of its outstanding 5.375% Notes due 2026 (the “Securities”), upon the terms and subject to the conditions set forth in Ecopetrol’s Offer to Purchase, dated 8 Oct. 2024 (as the same […]
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.
Tellurian Executives Enter in Separation Agreement
(Energy Analytics Institute, 8.Oct.2024) — On 8 Oct. 2024, Tellurian Inc. completed its previously announced merger with Woodside Energy. On said date, Woodside and Tellurian entered into a separation agreement and general release with: Daniel A. Belhumeur, President, Tellurian, Samik Mukherjee, President, Tellurian Investments, and Simon G. Oxley, Executive Vice […]
Honeywell to Spin Off Advanced Materials Business
(Honeywell, 8.Oct.2024) — Honeywell announced a plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company, which is targeted to be completed by the end of 2025 or early 2026. Honeywell expects to execute the planned spin in a tax-free manner to its shareowners. As […]
Certification of Grain LNG Terminal Provides Additional Transparency
(MiQ, 8.Oct.2024) — MiQ, a company dedicated to emissions certification, announced certification of the Grain LNG terminal in the United Kingdom, which is Europe’s largest LNG terminal. “The certification of Grain LNG provides UK and European natural gas buyers with additional transparency about the level of emissions from imported LNG. US […]
Noble Announces Major Shareholder Notice from BlackRock
(Noble, 8.Oct.2024) — Pursuant to Section 30 of the Danish Capital Markets Act, Noble Corporation plc hereby announces the receipt of a major shareholder notification from BlackRock, Inc. BlackRock has notified Noble on 7 Oct. 2024 that, as of 1 Oct. 2024, BlackRock’s holdings of indirect shares and voting rights […]
TotalEnergies Inks Renewable Supply Deal with Saint-Gobain
(TotalEnergies, 8.Oct.2024) — TotalEnergies has signed with Saint-Gobain a Power Purchase Agreement (PPA), under which TotalEnergies will supply renewable electricity to Saint-Gobain’s French facilities. It will take effect from Jan. 2026 for a total volume of 875 GWh over a period of five years. TotalEnergies will provide Saint-Gobain with a baseload supply of electricity and guarantees of origin for […]
Chevron Reveals $6.5bn Sale of Interests in Canada to CNRL
HOUSTON, TEXAS (Energy Analytics Institute, 7.Oct.2024) — Chevron Canada Limited, an indirect subsidiary of Chevron Corporation, and a related entity entered into a definitive agreement to sell their 20% percent non-operated interest in the Athabasca Oil Sands Project, 70% operated interest in the Duvernay shale, and related interests, all located […]
TotalEnergies Joins RWE in Two Offshore Wind Projects
(TotalEnergies, 7.Oct.2024) — TotalEnergies signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in the North Sea. These two projects, N-9.1 (2 GW) and N-9.2 (2 GW), located 110 km off the German coast, were awarded to RWE in Aug. 2024 and have 25-year […]
Lithium Africa Resources Announces Additions to Board
(Lithium Africa Resources, 7.Oct.2024) — Lithium Africa Resources Corp. announces additions to board. Lithium Africa is pleased to announce two significant additions to its Board of Directors as the company matures and continues its consolidation of district scale, hard rock lithium prospects in Africa. The new appointments to the Board, as […]
Petrobras Sets New Refinery Production Records
(Petrobras, 7.Oct.2024) — Petrobras reports that the Total Utilization Factor (FUT) of its refineries reached 96.8% in Sep. 2024, representing the highest monthly result in 2024. As a result, the accumulated FUT for the third quarter of the year (3Q24) reached 95.2%. The third quarter of this year also registered […]
Saipem Accelerates Research into Geothermal Energy
(Saipem, 7.Oct.2024) — Saipem has signed a Memorandum of Understanding to explore innovative solutions for the development of geothermal energy with Geolog, a company in the evaluation of geological formation and drilling solutions, and Ignis H2 Energy, a company specialized in geothermal resource acquisition, exploration, and development. The agreement is […]
CNOOC Brings Online Bozhong 19-2 Oilfield Development Project
(Energy Analytics Institute, 7.Oct.2024) — CNOOC Limited and 80883 said the Bozhong 19-2 Oilfield Development Project has started production. Peak production from the project is expected to be approximately 18,800 b/d of heavy crude oil in 2025, CNOOC said 7 Oct. 2024 in an official statement. The project is located […]
GeoPark Announces 3Q:24 Operational Update
(GeoPark, 9.Oct.2024) — GeoPark Limited announces its operational update for the three-month period ended 30 Sep. 2024 (“3Q:24”). Oil and Gas Production and Operations Llanos 34 Block: Secondary Recovery Continues CPO-5 Block: Production Remains Close to Record Levels Argentina: Mata Mora Norte Block in the Vaca Muerta Top 10 Llanos […]
Equinor Buys 9.8% Minority Stake in Ørsted
(Equinor, 7.Oct.2024) — The transaction establishes Equinor as the second largest shareholder in Ørsted, after the Danish State, which holds a controlling stake in the company. “Equinor has a long-term perspective and will be a supportive owner in Ørsted. This is a counter-cyclical investment in a leading developer, and a […]
CNRL to Acquire Chevron’s Alberta Assets for $6.5bn
(CNRL, 7.Oct.2024) — Canadian Natural Resources Limited (CNRL) entered into an agreement to acquire, subject to regulatory approvals, from Chevron Canada Limited its 20% interest in the Athabasca Oil Sands Project (AOSP), which includes 20% of the Muskeg River and Jackpine mines, the Scotford Upgrader and the Quest Carbon Capture […]
CNRL Increases Quarterly Dividend
(Energy Analytics Institute, 7.Oct.2024) — The Board of Directors of Canadian Natural Resources Limited (CNRL) agreed to increase the quarterly cash dividend by 7% to $0.5625 per common share, up compared to the previous quarterly cash dividend of $0.525 per common share, CNRL said 7 Oct. 2024 in an official […]
Chevron Closer to Canadian Divestment Target with $6.5bn Asset Sale to CNRL
(WoodMac, 7.Oct.2024) — Addressing Chevron’s announcement to sell Canadian assets to Canadian Natural Resources (CNRL) for US$6.5bn Mark Oberstoetter, Wood Mackenzie Upstream Research Director in Calgary, said “Chevron has shown commitment to its divestment target with two sale announcements in two weeks. Offloading Alaska assets to ConocoPhillips (COP) last week […]
Mexico’s New President Promises to Resume Fight Against Climate Change
(AP, 5.Oct.2024) — In her first days as Mexico’s new president, Claudia Sheinbaum made a point of distancing herself from the fossil fuel reliance promoted by her predecessor and mentor, Andrés Manuel López Obrador, and vowed to resume an energy transition that he halted. “We are going to boost renewable […]
Ecopetrol Says Importation of Venezuela Gas Viable
(Energy Analytics Institute, 4.Oct.2024) — Ecopetrol SA president Ricardo Roa has analyzed the natural gas deficit in Colombia and stressed that the reactivation of Venezuelan gas imports could be a feasible solution, as long as Repsol SA provides the supply. During the VII Oil, Gas and Energy Summit, Roa mentioned […]
Winter is Coming in Europe as Geopolitical Risks Rise: Rystad Energy
(Rystad, 4.Oct.2024) — Here is Rystad Energy’s gas and LNG market update from analyst, Christoph Halser: “Norway concludes its gas maintenance season with some disruptions, while hurricanes add further risks to U.S. supply. This comes at an untimely moment, as cold temperatures across Europe are expected to cause a short-term […]
MODEC Announces Establishment of OFS India
(Energy Analytics Institute, 4.Oct.2024) — MODEC, Inc. announced that Offshore Frontier Solutions Pte. Ltd. (OFS), a MODEC Group company in Singapore, is partnering with Toyo Engineering India Private Limited to establish a global capability center in Bengaluru, India. This joint venture company, TOYO MODEC OFS India Private Limited (OFS India), […]
LatAmNRG matters, highlights, heard: Argentina LNG, $7.3bn Amber-Citgo deal
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 4.Oct.2024, Words: 423) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian energy giant Petronas, which has generated a ton of noise in recent wks about its rumored departure from […]
Petrobras and Ternium to Supply Gas in the Rio de Janeiro Free Market
(Petrobras, 3.Oct.2024) — Petrobras and Ternium entered into a contract to supply natural gas in the free trading environment to the Ternium plant in Rio de Janeiro (RJ). This agreement marks Ternium’s migration from the captive market to the free market in Rio de Janeiro, where it relies on a […]
Enbridge Sanctions Pipelines to Support bp’s New Deepwater US GOM Development
(Enbridge, 3.Oct.2024) — Enbridge Inc. will build, own, and operate crude oil and natural gas pipelines in the U.S. Gulf of Mexico for the recently sanctioned Kaskida development, operated by BP Exploration & Production Company (“bp”). The crude oil pipeline, named the Canyon Oil Pipeline System, will be a combination of 24″ and […]
Shell Poised to Add Pipeline Capacity in US GOM
(Shell Pipeline Company, 3.Oct.2024) — Shell Pipeline Company LP announced the Final Investment Decision (FID) for the Rome Pipeline, an offshore pipeline construction project increasing access between Shell’s Green Canyon Block 19 (“GC-19”) pipeline hub platform and the Fourchon Junction facility on the Louisiana Gulf Coast. The pipeline will bring […]
Producers Midstream to Build Gas Facilities in Lea County
(Tailwater Capital, 3.Oct.2024) — Producers Midstream II, LLC, a portfolio company of Tailwater Capital, announced it is constructing a new gathering, treating, and processing system in Lea County, New Mexico. The System will be located in the core of the Delaware Basin, one of the most active oil and gas […]
Flex LNG Finalizes $430mn in New Financings
(Flex LNG, 3.Oct.2024) — Flex LNG Ltd announced that the aggregate $430mn of new financings announced in the Q2:24 report have been completed according to plan with net proceeds of about $97mn. On 4 Sep. 2024, the new $270mn bank facility financing Flex Aurora and Flex Ranger was completed, and […]
QatarEnergy LNG Awards McDermott EPCI Contract for the NFS
(McDermott, 3.Oct.2024) — McDermott has been awarded an engineering, procurement, construction and installation (EPCI) contract by QatarEnergy LNG for the North Field South (NFS) Offshore Pipelines and Cables Project. This new contract is in addition to the awards received by McDermott earlier for the NFS Pipelines FEED, the NFS Jackets […]
Petrobras says Uchuva-1/Uchuva-2 gas potential is around 6 Tcf
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 3.Oct.2024) — Petrobras, following up on the announcements issued on 29 Jul. 2022 and 5 Aug. 2024 on the extension of the gas discoveries in the Uchuva-1 and Uchuva-2 wells, renamed Sirius-1 and Sirius-2, says the gas potential in the discoveries is […]
IsoEnergy Acquires Anfield, Securing Expanded US Uranium Production
(IsoEnergy, 2.Oct.2024) — IsoEnergy Ltd. and Anfield Energy entered into a definitive agreement (the “Arrangement Agreement“) pursuant to which IsoEnergy will acquire all of the issued and outstanding common shares of Anfield (the “Anfield Shares“) by way of a court-approved plan of arrangement (the “Transaction“). Anfield owns 100% of the Shootaring Canyon Mill (the […]
Moody’s Raises Petrobras’ Outlook to Positive
(Energy Analytics Institute, 2.Oct.2024) — Moody‘s raised the outlook on Petrobras‘ ratings from stable to positive, Petrobras announced 2 Oct. 2024 in an official statement. The rating agency also reaffirmed Petrobras’ credit rating at “Ba1”, reflecting the Brazilian company’s solid credit metrics, positive track record of operational and financial improvement […]
Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile
(Fleet Space, 2.Oct.2024) — Fleet Space Technologies, an Australian space exploration company, announced plans to deploy its end-to-end mineral exploration solution, ExoSphere, to enhance Gold Fields’ data-driven exploration and development of their Salares Norte project in Northern Chile. ExoSphere will be used to generate 3D subsurface imaging of the Brecha […]
Idea of Colombia Importing Gas from Venezuela ‘Big Distraction,’ Ex-minister Says
(Reuters, 2.Oct.2024) — Debate in Colombia over the possibility of importing gas from Venezuela “has been a big distraction” amid concerns about Colombia’s future energy self sufficiency, former minister of mines and energy Tomas Gonzalez said on Wednesday. Colombia’s government and majority state-owned energy company Ecopetrol have repeatedly floated importing […]
Saipem Presents Solution for Large-scale Green Hydrogen Production
(Saipem, 2.Oct.2024) — Saipem and Nel ASA, during the 2024 World Hydrogen Week in Copenhagen, unveiled IVHY™ 100, a groundbreaking turn-key 100 MW electrolyser concept, which leverages Nel’s atmospheric alkaline electrolyser technology. The innovative renewable hydrogen generation solution has been designed and industrialized to be scalable, modular and to facilitate […]
Sheinbaum Keeps Morning Briefings, Though her Style is Unlike AMLO’s
(AP, 2.Oct.2024) — Mexico’s new President Claudia Sheinbaum started her day Wednesday much like her political mentor, ex-President Andrés Manuel López Obrador, began most of his: with an early morning news briefing from the National Palace. López Obrador’s news briefings, known as the “mañaneras,” were marathon affairs, featuring folksy dialogue, […]
Petrobras Reports on South African Operations
(Petrobras, 1.Oct.2024) — Petrobras informs that its Board of Directors has approved the company’s operations in South Africa, enabling the acquisition of a stake in the Deep Western Orange Basin (DWOB) block, through a competitive process conducted by TotalEnergies. The DWOB block is located in deep waters in the Orange […]
DMW Marine Expands Workforce to Meet Growing Global Demand
(Energy Analytics Institute, 1.Oct.2024) — DMW Marine Group, which specializes in marine cranes, announced the hiring of nine new service technicians. This move supports the company’s ongoing expansion and enhances its ability to meet the increasing demand for its products and services worldwide, especially in regions like Bahrain, Egypt, Tahiti, […]
Talos Adopts Limited Duration Stockholder Rights Plan
(Talos, 1.Oct.2024) — Talos Energy Inc. announced that its Board of Directors has adopted a limited duration stockholder rights plan (the “Rights Plan”). The Rights Plan is effective immediately and will expire on 1 Oct. 2025, unless approved by Talos stockholders at the company’s next Annual Meeting. The Board may […]
Canadian Solar to Deliver Storage Solutions to the Huatacondo Project in Chile
(Canadian Solar Inc., 1.Oct.2024) — Canadian Solar Inc. announced that e-STORAGE, which is part of the company’s majority-owned subsidiary CSI Solar Co., Ltd., has secured a turnkey EPC contract to supply a 98 MW/312 MWh DC Battery Energy Storage System (BESS) to the Huatacondo project in Chile. The project, developed by Sojitz Corporation […]
New Pacific Metals Delivers Strong Economics for Carangas
(New Pacific, 1.Oct.2024) — New Pacific Metals Corp. reported the results of its Preliminary Economic Assessment (PEA) for the Carangas project in Oruro Department, Bolivia. The PEA is based on the Mineral Resource Estimate (MRE) for the project, which was reported on 5 Sep. 2023, and prepared in accordance with National Instrument 43‐101- Standards […]
Citgo Share Auction Creditors Oppose Terms of Amber Energy Bid
(Reuters, 1.Oct.2024) — Creditors seeking proceeds from an auction of shares in a parent of Citgo Petroleum to repay them for Venezuela’s expropriations and debt defaults on Tuesday widely criticized terms of a conditional offer selected in the U.S. court’s second bidding round. An Elliott Investment Management affiliate on Friday was named […]
FACTSHEET: enCore’s Rosita ISR Uranium Central Processing Plants & Wellfields
(enCore Energy, 1.Oct.2024) — The Rosita In-Situ Recovery (“ISR”) Uranium Central Processing Plant (“CPP”) and Wellfield commenced production as of Nov. 2023, according to details on enCore Energy‘s website as of 1 Oct. 2024. The Rosita CPP is located on a 270-acre surface tract, 100% owned by enCore, located central […]
Fission vs. Fusion – What’s the Difference?
(Duke Energy, 1.Oct.2024) — Look up during the day to see one of the most powerful examples of a nuclear reactor: the sun. Inside the sun, fusion reactions take place at very high temperatures and enormous gravitational pressures. The foundation of nuclear energy is harnessing the power of atoms by […]
TotalEnergies takes $10.5bn FID for GranMorgu development on Suriname’s block 58
PARAMARIBO, SURINAME (TotalEnergies, 1.Oct.2024, Words: 800) — Patrick Pouyanné, Chairman and CEO of TotalEnergies, met in Paramaribo with His Excellency Chandrikapersad Santokhi, President of the Republic of Suriname, and Annand Jagesar, CEO of Staatsolie Maatschappij Suriname N.V., Suriname’s national oil company, to announce the final investment decision (FID) for the […]
APA Takes $10.5bn FID for First Oil Development Offshore Suriname
(APA, 1.Oct.2024) — APA Corporation’s subsidiary has reached a positive final investment decision (FID) for the first oil development in Block 58, located offshore Suriname. The project has been named GranMorgu, which is derived from a local language and means both “new dawn” and “goliath grouper.” Highlights: GranMorgu will include […]
Ecopetrol Appoints Hurtado as Upstream VP
(Energy Analytics Institute, 1.Oct.2024) — Colombian state-owned Ecopetrol S.A. announced Juan Carlos Hurtado Parra as Vice President of the Upstream segment. The appointment has been made as part of the implementation of the new organizational structure announced on 6 Jun. 2024, Ecopetrol announced 1 Oct. 2024 in an official statement. […]
McDermott Awarded FEED Contract in Mozambique
HOUSTON, TEXAS (Energy Analytics Institute, 30.Sep.2024) — McDermott, through a consortium with Saipem and China Petroleum Engineering and Construction Corporation, has been awarded a front-end engineering design (FEED) contract for the Rovuma LNG Phase 1 in Mozambique. Rovuma LNG Phase 1 is a joint venture between ExxonMobil Development Africa B.V., Eni […]
MEEI Grants PSC for Block Modified U (C) to BG
(MEEI, 30.Sep.2024) — The Ministry of Energy and Energy Industries (MEEI) said a negotiated Production Sharing Contract (PSC) for Block Modified U (c ) has been signed between the Trinidad and Tobago government and the successful bidder, BG International Limited (BGI), a subsidiary of Shell. The signing took place on […]
Woodside Completes OCI Clean Ammonia Acquisition
(Woodside, 30.Sep.2024) — Woodside has completed the acquisition of 100% of OCI Clean Ammonia Holding B.V., which holds its lower carbon ammonia project in Texas (Project), from OCI N.V. (together with its affiliates, OCI).1 The completion follows Woodside’s announcement on 5 Aug. 2024 that it had entered into an agreement […]
Matson Starts Construction of LNG-Powered Containerships
(Matson, 30.Sep.2024) — Matson, Inc. announced the start of construction on the first of three new “Aloha Class” containerships designed for its Hawaii and China-Long Beach Express (CLX) services. After a small ceremony at Philly Shipyard in Pennsylvania, the cutting of steel plates began, initiating the work to build the […]