(bp, 10.Jul.2024) — This year’s Energy Outlook is focused on two main scenarios: Current Trajectory and Net Zero. These scenarios are not predictions of what is likely to happen or what bp would like to happen. Rather they explore the possible implications of different judgements and assumptions concerning the nature of the energy transition. The scenarios […]
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.
Energy Chamber Welcomes Manatee FID
(Energy Chamber, 9.Jul.2024) — The Energy Chamber of Trinidad & Tobago warmly welcomes the news that the final investment decision (FID) has been taken by Shell for the development of the Manatee field. This is a very significant development for Trinidad & Tobago and will help create stability for the country’s […]
Petrobras Inks Master Agreement with Yara Brasil Fertilizantes S.A.
(Petrobras, 9.Jul.2024) — Petrobras has signed a Master Agreement with Yara Brasil Fertilizantes S.A. as a next step in its negotiations to structure potential business partnerships in the fertilizer segment, production of industrial products and decarbonization of production, in line with the Memorandum of Understanding (MOU) signed by the parties on […]
Shell takes FID at Manatee in Trinidad and Tobago
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 9.Jul.2024, Words: 538) — Shell Trinidad and Tobago Ltd., a subsidiary of Shell plc, has taken a final investment decision (FID) on the Manatee project, an undeveloped gas field in the East Coast Marine Area (ECMA) in Trinidad and Tobago. Manatee […]
Trinidad’s Minister Young Meets with DeNovo Execs
(MEEI, 9.Jul.2024) — The Honourable Stuart R. Young SC, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, along with Ms. Sandra Fraser, Permanent Secretary at the Ministry of Energy and Energy Industries, met with DeNovo Energy Limited executives at the at the Ministry […]
Pennybacker Acquires Miami LNG Business
(Pennybacker Capital, 9.Jul.2024) — Pennybacker Capital Management, LLC, a real assets investment manager, has entered into a definitive agreement to acquire a small-scale LNG business (Miami Facility) based in Miami, Florida, from New Fortress Energy Inc. Financial terms were not disclosed. The transaction is expected to close in the third quarter of […]
Eni reveals new find offshore Mexico at the Yopaat-1 EXP exploration well in Block 9
MEXICO CITY, MEXICO (Fidencio Casillas, 8.Jul.2024) — Italian oil and gas giant Eni announced a new discovery at the Yopaat-1 EXP exploration well in Block 9. The well is located 63km off the coast in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. Preliminary estimates indicate […]
Exxon Mobil Signals 2Q Earnings hit from Refining Margins
(Reuters, 8.Jul.2024) — Exxon Mobil said on Monday lower natural gas prices and refining margins are expected to hit the oil major’s second-quarter earnings. The oil major would be reporting its first earnings after closing the acquisition of Pioneer Natural Resources for $60 billion, with the combined operations making it the […]
Hurricane Beryl Impact to the Port of Corpus Christi
(Port of Corpus Christi, 8.Jul.2024) — In response to the impacts of Hurricane Beryl, the Port of Corpus Christi Authority has now fully transitioned to Post-Storm Recovery in accordance with the 2024 Hurricane Readiness Plan. Port personnel are continuing to assess impacts; however no significant impacts have been reported. Port facilities, […]
Equinor Starts Production from Kristin South
(Equinor, 8.Jul.2024) — Equinor and its partners Petoro, Vår Energi, and TotalEnergies EP Norge started production from the first Lavrans well in the Kristin South area on 7 July. The partnership submitted the plan for development and operation (PDO) of the Lavrans and Kristin Q discoveries as satellites to the […]
Devon Announces $5bn Strategic Acquisition in the Williston
(Devon Energy, 8.Jul.2024) — Devon Energy has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5bn, consisting of $3.25bn of cash and $1.75bn of stock to the sellers. The transaction is subject to customary terms and conditions, […]
Trinidad’s Minister Young Meets with Diplomatic Missions
(MEEI, 8.Jul.2024) — The Honourable Stuart R. Young SC, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, along with Ms. Sandra Fraser, Permanent Secretary at the Ministry of Energy and Energy Industries, met separately, with representatives of the diplomatic missions of Brazil and […]
Asian Energy inks MOU for land in Sonora, Mexico
SONORA, MEXICO (By Asian Energy Capital, 8.Jul.2024, Words: 770) — A significant step towards sustainable energy production and environmental preservation was taken by Aslan Energy Capital by signing an MOU for the acquisition of 35,000 hectares of land in Sonora, Mexico. The land will serve as the foundation for the pioneering ANEM […]
ExxonMobil Shuts Hoover Platform as Beryl Approaches
(ExxonMobil, 7.Jul.2024) — As we prepare for severe weather that may impact our Gulf of Mexico operations, our primary focus is the safety of our workforce and communities in the affected areas. We continue to meet customer commitments. For the latest developments on Beryl, please visit the National Hurricane Center website. […]
Emergency Fuel Supply Provided to Grenada after Beryl
(MEEI, 6.Jul.2024) — In response to the devastating impact of Hurricane Beryl on the islands of Grenada and Carriacou, the Government of the Republic of Trinidad and Tobago, through the Ministry of Energy and Energy Industries, has coordinated with Paria Fuel Trading Company Limited to deliver an emergency supply of fuel […]
3R on Approval of Merger of Enauta by CADE
(3R, 5.Jul.2024) — 3R PETROLEUM ÓLEO E GÁS S.A. and Enauta Participações S.A., under the terms of CVM Resolution No. 44, 23 Aug. 2021, regarding the transaction involving the merger of Maha Energy (Holding) Brasil Ltda. into 3R, and of the merger of Enauta shares into 3R, communicate to its […]
Corpus Christi Port Readies for Arrival of Beryl Impact
(Port of Corpus Christi, 5.Jul.2024) — Anticipating the landfall of Hurricane Beryl on the Texas Gulf Coast, the Port of Corpus Christi has increased its Hurricane Readiness Status to Hurricane Readiness Level 2 (High Readiness), in accordance with its 2024 Hurricane Readiness Plan. The Port continues to monitor possible impact scenarios for Hurricane […]
Petrobras informs on the Addendum to the Cessation Commitment (TCC)
(Petrobras, 5.Jul.2024) — Petrobras, in continuity to the Material Fact disclosed on 22 May 2024, informs that the Court of the Administrative Council for Economic Defense (CADE) and Petrobras signed an addendum to the Terms of Cessation Commitment (“TCC”) for Refining, signed in 2019, through which new obligations were agreed involving […]
Kosmos Announces First Oil Production at Winterfell in the U.S. GOM
(Kosmos, 3.Jul.2024) — Kosmos Energy Ltd. announced the successful start-up of oil production at the Winterfell development in the Green Canyon area of the U.S. Gulf of Mexico. Winterfell (Kosmos 25.04% working interest) is a phased development with the initial two production wells of the first phase now online and ramping up production. A […]
SLB OneSubsea Awarded Contract for TotalEnergies’ Kaminho Project
(SLB, 3.Jul.2024) — SLB has announced the award of a contract by TotalEnergies to its OneSubsea™ joint venture for a 13-well Subsea Production System scope, including associated equipment and services, in the development of the Kaminho project, offshore Angola. The project will be developed by TotalEnergies and its Block 20/11 […]
Kosmos Starts Oil Production at Winterfell in the U.S. GOM
(Kosmos Energy, 3.Jul.2024) — Kosmos Energy Ltd. announced the successful start-up of oil production at the Winterfell development in the Green Canyon area of the U.S. Gulf of Mexico. Winterfell (Kosmos 25.04% working interest) is a phased development with the initial two production wells of the first phase now online and ramping up production. […]
Petrobras on Addendum to the TCC for Gas Sign with CADE
(Petrobras, 3.Jul.2024) — Petrobras, in continuity to the Material Fact disclosed on May 22, 2024, informs that the Court of the Administrative Council for Economic Defense (CADE) and Petrobras signed an addendum to the Terms of Cessation Commitment (”TCC”) for Gas, signed on 8 July 2019. As announced by Petrobras, the addendum results from […]
SLB and TotalEnergies Announce 10-year Partnership
(SLB, 2.Jul.2024) — SLB and TotalEnergies announced a 10-year partnership to co-develop scalable digital solutions for enabling access to energy resources, with improved performance and efficiency. The partnership establishes a flexible framework for the companies to work together on addressing key challenges across the energy value chain, including carbon capture, […]
SLB updates on planned ChampionX acquisition
HOUSTON, TEXAS (By Ian Silverman, Energy Analytics Institiute, 2.Jul.2024, Words: 108) — SLB and ChampionX have each received a request for additional information, a second request, from the U.S. Department of Justice (DoJ) in connection with the agency’s review of SLB’s earlier announced plans to acquired ChampionX. SLB expects the […]
BW LPG on Successful Completion of Redomiciliation to Singapore
(BW LPG, 1.Jul.2024) — Reference is made to the stock exchange announcement made by BW LPG Limited on 21 June 2024 regarding the subsequent court hearing (the “Sanction Hearing”) at which the Supreme Court of Bermuda (the “Court”) sanctioned the scheme of arrangement (the “Scheme”) between the company and its […]
New Fortress to Sell Miami Liquefaction and Storage Facility
(New Fortress, 1.Jul.2024) — New Fortress Energy Inc. has entered into a definitive agreement to sell its liquefaction and storage facility in Miami, Florida to a U.S. middle-market infrastructure fund. The transaction is expected to close in the third quarter of 2024 subject to customary terms and conditions. The Miami […]
US judge halts Biden administration’s pause on LNG permits
WASHINGTON, DC (By Reuters, 1.Jul.2024, Words: 350) — A federal judge on Monday dealt President Joe Biden’s climate agenda a setback by blocking the Democrat’s administration from continuing to pause the approval of applications to export liquefied natural gas (LNG). U.S. District Judge James Cain in Lake Charles, Louisiana, sided with 16 Republican-led […]
Termination of Contract for FPSO Cidade Santos Acquisition
(Enauta, 1.Jul.2024) — Enauta Participações, considering the Material Fact disclosed on 21 Dec. 2023, informs that it has notified MODEC of the termination of the contract to acquire FPSO Cidade de Santos, as provided by contract, which also provides for reimbursement to Enauta of 50% of the amount disbursed at […]
Petrobras on Transfer of Minority Stake in UEG Araucária S.A. (UEGA)
(Petrobras, 1.Jul.2024) — Petrobras, following up on the release disclosed on 23 Feb. 2024, in which it reported the signing of the contract for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA) to Ambar Energia S.A., announces today that it has closed the transaction. […]
NextDecade Subsidiary RGLNG Issues $1.1bn Senior Notes Due 2047
(NextDecade, 1.Jul.2024) — NextDecade Corporation’s subsidiary Rio Grande LNG, LLC issued $1.115bn of senior secured notes in a private placement. These senior secured notes will accrue interest at a fixed rate of 6.58%. Proceeds from the notes will be used to reduce outstanding borrowings and commitments under Rio Grande LNG’s […]
Tellurian Closes $260mn Asset Sale, Retires Senior Secured Debt
(Tellurian, 1.Jul.2024) — Tellurian Inc. closed the previously reported sale of its integrated upstream assets for $260mn to affiliates of Aethon Energy Management LLC, fulfilling a key objective outlined in May and substantially strengthening its balance sheet as it advances the Driftwood liquefied natural gas (LNG) project. The company utilized […]
Aethon Completes Purchase of Tellurian Upstream, Midstream Assets
(Aethon, 1.Jul.2024) — Aethon Energy Management LLC successfully closed on the acquisition of Tellurian’s integrated upstream assets. Aethon’s footprint across its Fund II and Fund III assets in the Haynesville Shale now includes approximately 375,000 net acres with gathering and treating capacity of over 3 Bcf/d. Concurrent with the acquisition, […]
EAI’s NRGBriefs: June 2024
(Energy Analytics Institute, 30.Jun.2024) — Energy briefs as well as others related to finance and projects during June 2024 including Wintershall Dea and its partners from TotalEnergies and Pan American Energy have started development drilling at the Fenix field in Argentina; Trendsetter Engineering has been awarded a significant contract by […]
CNRL’s June 2024 Explanatory Statement
(Energy Analytics Institute, 30.Jun.2024) — Canada’s federal government has passed omnibus Bill C-59, which includes amendments to the Competition Act, resulting in changes to the law around environmental communications, Canadian Natural Resources Limited (CNRL) announced 30 Jun. 2024 in a statement on its website. “There is uncertainty on how this […]
Update on Capsized Vessel off Cove, Tobago
(MEEi, 29.Jun.2024) — The Ministry of Energy and Energy Industries advises that on 28 June 2024, the De-Inventory Phase of operations has been completed. All safely recoverable hydrocarbons from the wreck have been successfully pumped off the capsized barge, amounting to 32,303 barrels. The De-Inventory phase involved pumping hydrocarbons from the […]
Decisions of BODs of Ecopetrol
(Ecopetrol, 28.Jun.2024) — Ecopetrol S.A. informs that the Board of Directors, at its meeting held on 28 June 2024, appointed independent Director Gonzalo Hernández Jiménez as a member of the Audit and Risk Committee of the Board of Directors. The members of the Audit and Risk Committee are: Luis Alberto Zuleta Jaramillo (Chairman)Álvaro […]
Petrobras Informs on Unigel Contract
(Petrobras, 28.Jun.2024) — Petrobras, following up on the releases disclosed on 29 Dec. 2023 and 5 Feb. 2024, informs that the contract for Industrialization to Order (Tolling) signed with Unigel Group, signed on 29 Dec. 2023, did not have its conditions of effectiveness met within the established period (27 Jun. 2024) […]
Stena Places order for two new E-Flexer RoPax vessels
(Stena RoRo, 28.Jun.2024) — Stena RoRo has ordered another two E-Flexer RoPax vessels from the Chinese shipyard CMI Jinling (Weihai). The vessels will be delivered in 2027 to the Greek shipping company Attica Group and will operate in the Adriatic Sea. This is Stena RoRo’s fourteenth and fifteenth vessel in the E-Flexer series. The […]
Eni Inks Deal to Sell Upstream Assets in Alaska
(Eni, 27.Jun.2024) — Eni inked a binding agreement with Hilcorp, one of the largest US private company with extensive experience operating in Alaska, for the sale of 100% of the Nikaitchuq and Oooguruk assets owned by Eni in Alaska. This transaction is consistent with Eni’s strategy focused on the rationalization of […]
JinkoSolar Repurchased 4,503,178 ADSs
(JinkoSolar, 27.Jun.2024) — JinkoSolar Holding Co., Ltd. announced that as of the date of this press release, the company has repurchased a total of 4,503,178 ADSs in an aggregate amount of approximately US$110.7mn in the open market under its share repurchase program announced in July 2022 and the extended share repurchase program announced in Dec. 2023. […]
FERC Approves Venture Global’s CP2 LNG
(Venture Global, 27.Jun.2024) — Venture Global issued the following statement on the Federal Energy Regulatory Commission’s (FERC) approval of CP2 LNG, the company’s third export facility. “Venture Global applauds the Commission and FERC staff for their independent and thorough review and approval of CP2 LNG,” said Mike Sabel, CEO of Venture Global […]
Oceaneering Awarded Multiple Contracts for Vessel Services in the US GOM
(Oceaneering, 27.Jun.2024) — Oceaneering International, Inc. announced that its Offshore Projects Group (OPG) segment has been awarded multiple contractual agreements for vessel services with global energy companies, covering operations in the Gulf of Mexico. The scope of work under the first contract includes a mix of basic and heavy inspection, maintenance, […]
JordProxa and Zelandez Partnership Set to Accelerate Lithium Carbonate Supply
(JordProxa, 27.Jun.2024) — JordProxa and Zelandez announced the signing of a partnership designed to speed up the supply of lithium from lithium brine mining companies in North and South America. The collaboration links the world’s leading lithium brinefield technology provider with one of the most respected names in modular plant […]
Ecopetrol Reports Senior Management Changes
(Ecopetrol, 26.Jun.2024) — Ecopetrol S.A. informs that the Board of Directors, in its meeting held on 28 June 2024 adopted the following decisions: As part of the implementation of the new organizational structure, approved and reported on 6 June, the following appointments were made: Sandra Lucía Rodríguez, who currently serves as Vice President of […]
TXO Partners Announces Pricing of Upsized Public Offering
(TXO, 26.Jun.2024) — TXO Partners, L.P. (NYSE: TXO) announced the pricing of its public offering of 6,500,000 common units representing limited partner interests in TXO (the “common units”) at price to the public of $20.00 per common unit. The offering size was increased from the previously announced offering size of 5,000,000 […]
IGU Releases 2024 World LNG Report
(IGU, 26.Jun.2024) — Despite lower price, the growing global LNG market stays tight amid supply constraints, according to the 2024 IGU World LNG Report. Released today, the IGU’s 15th annual World LNG Report finds that global LNG trade grew by 2.1% in 2023, surpassing 401 million tonnes (MT). This global […]
Venture Global Launches First Vessel from State-of-the-Art LNG Fleet
(Venture Global, 25.Jun.2024) — Venture Global announced the successful launch of its first LNG vessel, the Venture Gator at a ceremony which took place at the Samsung Heavy Industries shipyard in Geoji-si, South Korea. The Venture Gator is the first of nine LNG carriers in the Venture Global fleet to be completed in quick succession […]
Capstone Copper Announces First Saleable Copper Concentrate in Chile
(Capstone Copper, 25.Jun.2024) — Capstone Copper Corp. (TSX:CS) (ASX:CSC) announced that the first saleable copper concentrate was produced at its Mantoverde Development Project (“MVDP”) in Chile, as the mine advances commissioning and ramps up to full production levels. The unchanged key commissioning milestones at the MVDP include: First ore to the […]
Cedar LNG Announces Positive $4bn FID
(Cedar LNG, 25.Jun.2024) — The Haisla Nation and Pembina Pipeline Corporation, partners in Cedar LNG Partners LP, announced a positive final investment decision (FID) on the Cedar LNG Project, a floating liquefied natural gas (LNG) (FLNG) facility with a nameplate capacity of 3.3 million tonnes per annum (MTPA), located in the […]
ExxonMobil and EV battery maker SK On Ink MOU
(ExxonMobil, 25.Jun.2024) — ExxonMobil signed a non-binding memorandum of understanding (MOU) with SK On, a global leading electric vehicle (EV) battery developer, that opens the door to secure a multiyear offtake agreement of up to 100,000 metric tons of MobilTM Lithium from the company’s first planned project in Arkansas. SK On plans to […]