(Energy Analytics Institute, 30.Sep.2024) — Energy briefs as well as others related to finance and projects during Sep. 2024 including Petrobras inking separate MOUs with its Argentine and Surinamese counterparts YPF and Staatsolie; TechnipFMC being awarded two subsea contracts by Petrobras; CNOOC Limited saying the Shenhai-1 Phase II Natural Gas Development […]
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.
Hess gets HSR clearance for Chevron merger
NEW YORK CITY, NEW YORK (Hess Corp., 30.Sep.2024, Words: 381) — Hess Corporation announced that the Federal Trade Commission (FTC) antitrust review of the Chevron-Hess merger has been completed, satisfying one of the closing conditions for the transaction. “We are very pleased that our merger with Chevron has cleared this significant regulatory hurdle,” said CEO John Hess. […]
US LNG Sector to Navigate Uncertainties with Harris or Trump
(S&P Global, 30.Sep.2024) — The 2024 presidential election carries risks and unknowns for US LNG project development, whether Vice President Kamala Harris is elected or former President Donald Trump returns to the Oval Office. The Biden administration’s decision earlier in 2024 to pause key LNG export permits remains a major […]
Exxon Director Joins Elliott Seeking to Acquire Citgo Petroleum
(Reuters, 28.Sep.2024) — Exxon Mobil board director Gregory Goff recently joined a newly formed Elliott Investment Management-backed company seeking to acquire control of Venezuela-owned oil refiner Citgo Petroleum. Citgo and Exxon are rivals in the motor fuels and lubrications business. Exxon is the third-largest U.S. oil refiner by capacity and […]
Saudi Arabia Signals Oil Policy Shift
(The Washington Institute, 27.Sep.2024) — The kingdom anticipates and accepts lower oil prices, according to a news report, but the impact on other producers could be comparatively damaging. On September 26, an exclusive in the Financial Times indicated that Saudi Arabia is ready to abandon its unofficial oil price target of $100 […]
CNOOC Brings Shenhai-1 Phase II Development Online
(Energy Analytics Institute, 27.Sep.2024) — CNOOC Limited said the Shenhai-1 Phase II Natural Gas Development Project has commenced production. The project is located in the Qiongdongnan Basin, northern South China Sea, with an average water depth of approximately 900 m, CNOOC said 27 Sep. 2024 in an official statement. The main […]
ConocoPhillips Gets Judge to Approve Seizing of Payments to PDVSA
(Reuters, 27.Sep.2024) — ConocoPhillips on Friday got a Trinidad court to approve the seizing of payments from the Caribbean country to Venezuela’s state oil company for a proposed offshore gas project between the two neighbors. ConocoPhillips has for years been seeking to recover money from Petroleos de Venezuela (PDVSA) for […]
Pemex Posts Drop in Oil Output as AMLO Exits
(Reuters, 27.Sep.2024) — Crude output by Pemex fell in August as Mexico’s national oil company failed to reduce fuel imports in line with company targets, while overall falling well short of the lofty energy trade goals of the country’s outgoing president. While locally produced petroleum product volumes rose during the […]
Amber Energy Selected to Acquire Citgo
(Amber Energy, 27.Sep.2024) — Amber Energy Inc. has been selected as the acquirer of PDV Holding, Inc., the parent of Citgo Petroleum Corporation, by Robert Pincus, the Special Master appointed by the U.S. District Court for the District of Delaware to oversee the sale of PDV Holding, Inc. Amber Energy is […]
MEEI Minister Young Tours PXGEO 2 Seismic Vessel
(MEEI, 27.Sep.2024) — Stuart R. Young, Minister of Energy and Energy Industries, and Minister in the Office of the Prime Minister toured the PXGEO 2 seismic vessel and met with its specialist crew on 26 Sep. 2024. This comes after cabinet approved negotiations towards a production sharing contract (PSC) between […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 27.Sep.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 27 Sep. 2024. —Argentina: Petronas is rumored to be pondering stepping back from Argentina LNG, the South American country’s initial LNG export project, leaving YPF alone to search for partners. —Brazil: Petrobras […]
TotalEnergies Acquires Producing Eagle Ford Assets from Lewis Energy
(TotalEnergies, 27.Sep.2024) — TotalEnergies signed an agreement with Lewis Energy Group to acquire a 45% interest in dry gas producing assets owned and operated by Lewis in the Eagle Ford basin in Texas. The acquisition of these low cost and long plateau assets further strengthens TotalEnergies’ integration across the gas […]
Northern Lights Ready to Receive CO2
(Equinor, 26.Sep.2024) — On 26 Sep. 2024 the Norwegian Minister of Energy conducts the official opening of the Northern Lights CO2 transport and storage facility in Øygarden, near Bergen. The Northern Lights facility is a joint venture between Equinor, Shell and TotalEnergies. “The completion of the Northern Lights facility marks an […]
Woodside Energy executives meet with MEEI officials in Trinidad
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 26.Sep.2024) — Executives with Woodside Energy provided an update to officials with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI) regarding the Australian company’s Calypso project offshore. The ‘pre-feed’ engineering work is progressing, the MEEI said 26 Sep. 2024 […]
Chevron Agrees Hess CEO Will Not Join Board in Deal with US Regulator, Bloomberg Reports
(Reuters, 26.Sep.2024) — U.S. energy major Chevron has agreed Hess CEO John Hess will not join its board in an agreement with the U.S. Federal Trade Commission to proceed with the $53 billion takeover deal, Bloomberg News reported on Thursday citing people familiar with the matter. The proposed all-stock acquisition, […]
Northern Lights Completion World’s First Commercial CO2 Transport and Storage Service
(Northern Lights, 26.Sep.2024) — Northern Lights JV unveiled the completed CO2 receiving facilities in Øygarden, Norway. The onshore and offshore infrastructure has been delivered on time for customers and within budget and is now ready to receive CO2 from Norwegian and European industry. Northern Lights is the first to offer […]
Northern Lights Facilities Finished, Ready to Store CO2
(TotalEnergies, 26.Sep.2024) — TotalEnergies and its partners, Equinor and Shell, announce the completion of the CO2 receiving and storage facilities of Northern Lights Joint-Venture in Norway. The facilities consist in a terminal that will receive CO2 cargos, a 100 km subsea pipeline for CO2 transportation to the offshore storage location, […]
TotalEnergies Reveals Mozambique LNG Response
(TotalEnergies, 26.Sep.2024) — The digital media Politico published an article regarding alleged murders that would have been carried out by Mozambican soldiers close to Afungi, the Mozambique LNG site, in northern Mozambique from Jun. to Nov. 2021. Before it was contacted by the author of this article, TotalEnergies had never […]
Petrobras and Staatsolie Maatschappij Suriname N.V. Ink MOU
HOUSTON, TEXAS (Energy Analytics Institute, 26.Sep.2024) — Brazilian energy giant Petrobras signed a non-binding memorandum of understanding (MOU) with its Surinamese counterpart Staatsolie Maatschappij Suriname N.V. aimed at assessing cooperation opportunities in the areas of hydrocarbon exploration and production, carbon capture, new energy sources, contingency response planning, among others. The […]
Frontera to Amend Substantial Issuer Bid
(Frontera, 25.Sep.2024) — Frontera Energy Corporation will amend its previously announced substantial issuer bid (the “Offer”) to remove the preferential acceptance of “odd lot” tenders, which are tenders from holders (“Shareholders”) of common shares of the company (the “Shares”) who beneficially own fewer than 100 Shares. There will be no […]
Eni Releases 2024 Methane Report
(Eni, 26.Sep.2024) — Eni SpA’s actions to reduce methane emissions across its operations are revealed in the company’s Methane Report 2024. ____________________
Ecopetrol changes names of projects offshore Colombia
PANAMA CITY, PANAMA (Energy Analytics Institute, 24.Sep.2024) — Colombia’s state-owned Ecopetrol S.A., in compliance with the ruling issued by the Fourth Labor Court of the Santa Marta Circuit, announced it will no longer use the names “Uchuva” and “Tayrona” to refer to its offshore exploration projects in the Colombian Caribbean, […]
Masdar to Buy Saeta from Brookfield for $1.4bn
(Masdar, 24.Sep.2024) — Abu Dhabi Future Energy Company PJSC (Masdar), the UAE’s clean energy powerhouse, announced the proposed acquisition of Saeta Yield from Brookfield Renewable, together with its institutional partners (Brookfield), for an implied enterprise value of c. US$1.4bn (€1.2bn). Closing of the transaction is subject to customary approvals and is expected […]
FTC set to greenlight Chevron’s $53bn buy of Hess
HOUSTON, TEXAS (By Reuters, 24.Sep.2024, Words: 429) — The U.S. Federal Trade Commission is expected to greenlight U.S. oil producer Chevron‘s purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil‘s challenge to the $53 billion deal as its final hurdle. The […]
TotalEnergies to Supply 200,000 t/y of LNG to HD Hyundai until 2033
(TotalEnergies, 24.Sep.2024) — In line with its strategy to grow its long-term liquefied natural gas (LNG) sales, TotalEnergies announces the signing of a Heads of Agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tons of LNG per year for 7 years starting from 2027. Thanks to this […]
China Provides Some Respite as Oil Prices Rise
(Rystad, 24.Sep.2024) — Oil prices are on the rise again, but OPEC’s production cut unwinding still seems far off. Here is Rystad Energy’s oil macro update from Global Market Analysis Director, Claudio Galimberti: “The Chinese government’s announcement of its largest stimulus package since the pandemic, combined with the sudden rise […]
YPF CEO Marín Downplays Petronas Drama
BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 24.Sep.2024) — YPF President and CEO Horacio Marín downplayed the impact of Petronas deciding not to move forward as a partner in a massive LNG facility (onshore and offshore) planned on Argentina’s Atlantic Coast. “There is no need to dramatize” the news if […]
SSR Mining updates on Seabee
HOUSTON, TEXAS (Aaron Simonsky, Energy Analytics Institute, 23.Sep.2024, Words: 196) — SSR Mining Inc. said Seabee will restart in second half of Oct. 2024. The fire activity has significantly reduced in the direct vicinity of the Seabee operations and is being actively managed. Following the Seabee evacuation on 21 Aug. […]
Scala Data Centers Secures $500mn from Coatue and IMCO
(Scala Data Centers, 23.Sep.2024) — Scala Data Centers, the hyperscale sustainable data center platform in Latin America, is pleased to announce the successful completion of $500mn in structured financing. The investment includes $250mn from Coatue Tactical Solutions and $250mn from the Investment Management Corporation of Ontario (IMCO). The funds will be used to accelerate Scala’s expansion across Latin America to support the […]
Cemex’s Lower-carbon Materials to Fortify Wastewater Plant in San Francisco
(Cemex, 23.Sep.2024) — As part of San Francisco’s major initiative to sustainably upgrade and modernize infrastructure, Cemex has announced its involvement in reinforcing the City’s largest wastewater treatment plant with its Vertua®lower-carbon concrete. The Southeast Treatment Plant’s (SEP) Biosolids Digester Facilities Project will replace the outdated existing solids treatment facilities with more reliable, efficient, and modern […]
Mon Power and Potomac Edison Break Ground on Third Solar Site
(FirstEnergy, 23.Sep.2024) — Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp., have begun construction on their third utility-scale solar site in West Virginia to help meet the state’s electricity needs and further encourage economic development. The Marlowe solar project is located along Interstate 81 and the Potomac River on a 36-acre property in Berkeley County that was […]
Air France-KLM Ramps up SAF Offtake with TotalEnergies
(TotalEnergies, 23.Sep.2024) — TotalEnergies and Air France-KLM have signed an agreement for TotalEnergies to supply up to 1.5 million tons of more sustainable aviation fuel (SAF) to Air France-KLM Group airlines over a 10-year period, until 2035. This agreement marks one the largest SAF purchase contracts signed by Air France-KLM to […]
Fénix Gas Field: Quick Facts
(Energy Analytics Institute, 23.Sep.2024) — France’s TotalEnergies announced the start of production from the Fénix gas field. The field is located 60 km off the coast of Tierra del Fuego in Southern Argentina, the French company announced 23 Sep. 2024 on LinkedIn. Facts and highlights about the Fénix gas field, […]
Pyka Secures $40mn to Advance Commercialization of Electric Aircraft
(Pyka, 23.Sep.2024) — Pyka, an electric aviation technology leader that designs and manufactures large-scale autonomous electric aircraft, today announced a $40mn Series B raise. The funding round was led by Obvious Ventures, with participation from both new and existing investors, including Piva Capital, Prelude Ventures, Metaplanet Holdings, and Y Combinator. Pyka is rapidly […]
CRRC to Unveil Rail Transit and Full Life-Cycle System Solutions at InnoTrans 2024
(CRRC, 22.Sep.2024) — Under the theme of On Track for A Low Carbon Future, CRRC Corporation Limited (“CRRC”, SHA: 601766) will display its line-up of passenger and freight transportation offerings, alongside full life-cycle system solutions, at InnoTrans 2024 in Berlin, Germany. Highlighting the event, two innovative, eco-friendly, and intelligent trains will make their […]
World Manufacturing Convention 2024 Showcases Next-Gen Technologies
(World Manufacturing Convention, 21.Sep.2024) — As technology and innovation converge, a grand feast celebrating the manufacturing industry is commencing. On 20 Sep. 2024, the 2024 World Manufacturing Convention opened its doors at the Hefei Binhu International Convention and Exhibition Center in Hefei, Anhui Province. As a premier event in the manufacturing sector, this […]
New Projects to Open Bakken NGL Markets
(East Daley, 20.Sep.2024) — The Permian and Williston basins are both constrained by inadequate gas pipeline egress. Yet when it comes to managing the associated ethane, that’s where the similarities end – Permian ethane is valued as a purity product, and Bakken supply plays second fiddle. Market dynamics are likely to […]
US-China Circular Economy Forum Tackles “White Pollution”
(Niutech, 20.Sep.2024) — On 6 Sep. 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from […]
Petrobras on Payment of Remuneration to Shareholders
(Petrobras, 20.Sep.2024) — Petrobras, following up on the Material Fact of 13 May 2024 and the Communication of 11 Jun. 2024, informs that will pay today the second installment of dividends related to the balance sheet of 31 Mar. 2024. The gross amount to be distributed today corresponds to R$ […]
Class Action Filed Against New Fortress Energy
(Levi & Korsinsky, 20.Sep.2024) — Levi & Korsinsky, LLP notifies investors in New Fortress Energy Inc. of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of New Fortress investors who were adversely affected by alleged securities fraud between 29 Feb. 2024 and 8 Aug. 2024. Follow the link to get more […]
Flex LNG on Mandatory Notification of Trade by PDMR
(Energy Analytics Institute, 20.Sep.2024) — Flex LNG Ltd. said it has received trade notifications from the following two persons discharging managerial responsibilities (PDMR). Øystein Kalleklev, CEO of Flex LNG Management AS, has in the period 18-19 Sep. 2024 exercised 100,000 options and subsequently sold 100,000 shares on New York Stock Exchange (NYSE) […]
Thai Delegation Explores Collaboration Opportunities in Green Economy
PHOTO CAPTION:Thai Delegation with the Ankeny Chamber of Commerce and the Greater Des Moines Partnership.
Crescent to Develop Integrated CCS Solution for Entergy
(Energy Analytics Institute, 20.Sep.2024) — Crescent Midstream will develop and build an integrated CCS project in Lake Charles, Louisiana capable of capturing, transporting, and permanently storing CO2 emitted from an Entergy-owned natural gas-fired power plant. Through collaboration between Entergy, Crescent, SAMSUNG E&A, and Honeywell‘s carbon capture technologies, the ~$1bn project would be one of the […]
TotalEnergies on Production Start-up at Fenix Field Offshore Argentina
(TotalEnergies, 20.Sep.2024) — TotalEnergies announces the start of production from the Fenix gas field, located 60 km off the coast of Tierra del Fuego in Southern Argentina. The Fenix field is part of the Cuenca Marina Austral 1 (CMA-1) concession, in which TotalEnergies holds a 37.5% operated interest, alongside its partners Harbour Energy […]
Kimmeridge and Commonwealth LNG Ink Deal with Glencore
(Energy Analytics Institute, 19.Sep.2024) — Kimmeridge Texas Gas (KTG) and Commonwealth LNG entered into a Heads of Terms agreement with Glencore LTD, creating a strategic natural gas and LNG partnership. Under the terms of the agreement, Glencore will purchase 2 million tonnes per annum (mtpa) of LNG for 20 years from […]
Gastech Houston 2024: Day 3 Wrap
(Gastech, 19.Sep.2024) — The third day of Gastech 2024 continued to forge the energy industry’s route towards achieving net-zero emissions and sustainable growth. Alongside a continued focus on the central role of natural gas and LNG, the day’s sessions championed innovative decarbonization solutions, such as hydrogen, low-carbon LNG, and nuclear […]
Scarborough Primary Approval Challenge to be Dismissed
(Woodside, 19.Sep.2024) — Woodside and the Australian Conservation Foundation (ACF) have agreed to dismiss the ACF’s challenge to a primary environmental approval for Woodside’s Scarborough Energy Project. The Scarborough Energy Project has all primary environmental approvals in place and offshore work is progressing well. The Federal Court proceedings sought an […]
Touchstone on Lapsing of Acquisition
(Energy Analytics Institute, 19.Sep.2024) — The Touchstone board of directors revealed that Trinity‘s announcement on 18 Sep. 2024 its board is seeking the permission of the Court to formally withdraw the scheme at a Court hearing which has been scheduled for 25 Sep. 2024. Notwithstanding withdrawal of the Scheme, the […]
Golden Arrow Initiates Permitting at the San Pietro Project in Chile
(Energy Analytics Institute, 19.Sep.2024) — Golden Arrow Resources Corporation has engaged the services of a Chilean environmental consultancy firm for the preparation and submission of an Environmental Impact Statement, known as a “Declaración de Impacto Ambiental (DIA)” in Spanish, for the cdompany’s flagship San Pietro Iron-Copper-Gold-Cobalt Project in Chile Golden Arrow said 19 […]
TotalEnergies to Supply 1.25 Mt/y of LNG to CNOOC until 2034
(TotalEnergies, 19.Sep.2024) — In line with its strategy to grow its long-term liquefied natural gas (LNG) sales, TotalEnergies announces a 5-year extension of its sales and purchase agreement (SPA) with CNOOC, for the delivery of 1.25 million tons of LNG per year to China until 2034. Thanks to this agreement, TotalEnergies […]