ENERGY ANALYTICS INSTITUTE (EAI), Author at Editores LatinPetroleum

SSR Mining Comments on Proxy Statement

(SSR, 16.May.2024) — On15 May 2024, SSR Mining Inc. (Nasdaq/TSX: SSRM; ASX: SSR) filed an amendment to the company’s Proxy Statement dated 12 Apr. for its Annual and Special Meeting of Shareholders to be held on 23 May. The purpose of the amendment is to supplement and amend Proposal No. 3 of the Proxy […]

US Election Could Decelerate Energy Transition

(Wood Mackenzie, 16.May.2024) — The Infrastructure Investment and Jobs Act (IIJA) of 2021 and the Inflation Reduction Act (IRA) of 2022 catapulted the US to global leadership in decarbonisation. But a victory for former President Donald Trump in the November 2024 election, combined with long-standing issues around the US relationship with […]

Petronas Discovery in Suriname Approaches 400 MMbbls

(Petronas, 16.May.2024) — Addressing the recent deepwater discovery by Petronas in Suriname, Mark Oberstoetter, Head of Americas (non-L48) Upstream, said “We understand Roystonea and Fusaea’s recoverable resources are approaching 400 million barrels. This could be enough to support an FPSO with an oil processing capacity of up to 100,000 b/d […]

Petronas, ExxonMobil Report Find in Suriname’s Offshore Block 52

(Petronas, 16.May.2024) — Petronas Suriname E&P B.V., a subsidiary of Petronas, has made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well in Suriname’s Block 52, located about 170 kilometres offshore and 9 kilometers east from Roystonea-1 The well was spudded in Feb. 2024 and successfully drilled […]

Geopark Reports 1Q:24 Results

(GeoPark, 15.May.2024) — GeoPark Limited (NYSE: GPRK) reports its consolidated financial results for the three-month period ended 31 Mar. 2024 (“First Quarter” or “1Q2024”). A conference call to discuss these financial results will be held on 16 May 2024, at 10:00 am (Eastern Daylight Time). FIRST QUARTER 2024 SUMMARY In […]

3R PETROLEUM Clarifies News Published in Pipeline Valor

(3R, 15.May.2024) — 3R PETROLEUM ÓLEO E GÁS S.A.(B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44, hereby, in reference to the news published by Pipeline Valor, on this date, under the title “3R and Enauta conclude merger and call shareholders’ meeting”, provide the following clarifications: — […]

Interest Remains in Mexico’s Oil and Gas

(S&P, 15.May.2024) — There is still a lot of private and international interest in developing the oil and natural gas resources in Mexico despite the shift towards state control by President Andres Manuel Lopez Obrador, panelists said during an energy and infrastructure forum May 14-15. However, if Mexico again opened […]

Lula Fires Petrobras CEO Prates After Dividend Dispute

(Bloomberg, 15.May.2024) — Shares of Brazil’s state-owned oil company Petroleo Brasileiro SA declined after President Luiz Inacio Lula da Silva fired Chief Executive Officer Jean Paul Prates following a dispute over dividend payments. Prates’s dismissal was confirmed late Tuesday by people familiar with the matter, who asked not to be identified discussing private matters. Petrobras, […]

Latin America and the Caribbean

Petrobras on Official Letter from Ministry of Mines and Energy

(Petrobras, 14.May.2024) — Petrobras informs that it has received Official Letter No. 214/2024/GM-MME, through which the Ministry of Mines and Energy (MME), after being informed of Mr. Jean Paul Prates’ request for early termination of his term as CEO of Petrobras through negotiation and, if approved, his intention to subsequently […]

ADNOC Delivers Bulk Shipment of CCS-Enabled Certified Low-Carbon Ammonia to Japan

(ADNOC, 14.May.2024) — ADNOC delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage (CCS) to Mitsui & Co., Ltd. for use in clean-power generation in Japan. The low-carbon certification process, from production to delivery, has been conducted by TÜV SÜD, an internationally […]

Petrobras on its CEO Jean Paul Prates

(Petrobras, 14.May.2024) — Petrobras informs that it received this evening from its CEO, Mr. Jean Paul Prates, a request that the company’s Board of Directors meet to consider the early termination of its mandate as CEO of Petrobras in a negotiated manner. Additionally, Jean Paul informed that, if and once […]

PETRONAS Signs PSC for the Bobara Working Area, Eastern Indonesia

(PETRONAS, 14.May.2024) — PETRONAS E&P Bobara Sdn. Bhd., a subsidiary of PETRONAS, signed a Production Sharing Contract (PSC) for the Bobara Working Area located at the offshore of West Papua, Eastern Indonesia. PETRONAS has been awarded the Bobara Working Area with a total acreage of 8,444.49 square kilometers during the […]

PETRONAS Signs a 20-Year PSC Extension Deal for Ketapang Contract Area

(PETRONAS, 14.May.2024) — IPC Ketapang II Ltd. (PCK2L), a subsidiary of PETRONAS, signed a Production Sharing Contract (PSC) extension for the Ketapang Contract Area located in the Java Sea following the approval granted by the Government of Indonesia through the Ministry of Energy and Mineral Resources on 21 Dec. 2023, […]

PETRONAS Comments on Power Loss at LNG Complex in Bintulu

(Energy Analytics Institute, 14.May.2024) — PETRONAS subsidiary Malaysia LNG Group of Companies (MLNG) encountered a loss of power at around 11:30 p.m. on 10 May 2024 at the PETRONAS LNG Complex (PLC) in Bintulu. Prior to the incident, the facility was operating at optimal efficiency, PETRONAS said 14 May in an […]

Poland Hunts for $330mn of Orlen Payments for Venezuela Oil

(Reuters, 14.May.2024) — A Swiss unit of Polish refiner Orlen paid two Dubai-based intermediary companies $330 million for Venezuelan oil, but Venezuela’s state oil company PDVSA never received the money, according to sources and a document seen by Reuters. Prosecutors in Poland are investigating the loss of about $400 million […]

Aris Mining Results Boosted by Segovia Project

(Aris Mining, 14.May.2024) — Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) announces its full financial and operating results for the three months ended 31 Mar. 2024 (Q1 2024). Aris Mining previously released Q1 2024 production results and announced that it is on track to deliver full-year 2024 guidance while its expansion projects advance […]

GeoPark on Acquisition in Argentina

(GeoPark, 13.May.2024) — GeoPark Limited (NYSE: GPRK) signed an Asset Purchase Agreement with Phoenix Global Resources (PGR), a subsidiary of Mercuria Energy Trading, for the acquisition of non-operated working interest (WI) in four adjacent unconventional blocks in the Neuquén Basin in Argentina as follows: a 45% WI in each of the […]

Petrobras on Remuneration to Shareholders

(Petrobras, 13.May.2024) — Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of interim dividends and interest on own capital in the amount of R$13.45bn, equivalent to R$ 1.04161205 per outstanding common and preferred share, in anticipation of the remuneration to shareholders for the […]

Petrobras Reports 1Q:24 Financial Performance

(Petrobras, 13.May.2024) — In 1Q:24, Petrobras said its net revenue fell 12% compared to 4Q23, mainly influenced by lower revenue from diesel sales in the domestic market and exports. The reduction in revenue from oil products in the domestic market was mainly due to lower prices, the seasonality of consumption, […]

Petrobras Release 1Q:24 Tax Report

(Petrobras, 13.May.2024) — Petrobras reported a 9% increase in tax payments in the first quarter of 2024 when compared to the same period of 2023, driven by higher ICMS (VAT) collection. A total of R$68.2bn was collected by the government from January to March 2024. This amount includes taxes due […]

Australia-Oceania

Comment Ridge Receives $5mn Grant for Mahalo East

(Comet Ridge, 10.May.2024) — Comet Ridge Limited (ASX:COI) has been awarded a $5mn grant from the Queensland government to undertake a pilot test in Comet Ridge’s 100% held Mahalo East block (ATP 2061). Mahalo East currently has independently certified 2C (31PJ) and 3C (122PJ) Contingent Resources and the pilot test […]

SMA Mineral and Infinium to Advance eFuels Project in Norway

(SMA Mineral, 10.May.2024) — eFuels leader Infinium reached an agreement with SMA Mineral that will advance the development of Infinium’s eFuels project at the Mo Industripark in Mo i Rana, Norway. The Infinium facility will utilize the carbon dioxide (CO2) that SMA will produce at its Zero Emission Quick Lime […]

Paris Summit Aims Commitments of $4bn for African Women

(African Development Bank Group, 10.May.2024) — Summit expected to build on ground-breaking clean cooking initiatives launched at COP28; African Development Bank’s Adesina (www.AfDB.org), Tanzanian President Hassan, Norway Prime Minister Jonas Gahr Støre and International Energy Agency Executive Director Fatih Birol to co-chair event. Development partners gathering in Paris on 14 May […]

Ecopetrol Calls Holders of Domestic Public Debt for Ordinary Bondholders Meeting

(Ecopetrol, 10.May.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, in light of the statutory reform approved by its Shareholders’ during their ordinary meeting held on 22 Mar. 2024, its local bondholders are summoned to consider said reform, in compliance with Colombian regulations applicable to securities issuers, particularly Article 6.4.1.1.42 of Decree […]

YPF Reveals 1Q:24 Results

(YPF, 10.May.2024) — YPF SA said it achieved a new quarterly record high in operational efficiencies, delivering positive evolution in shale oil production. YPF also released its Form 20-F. ____________________

Subsea Integration Alliance Awarded Contract Offshore Türkiye

(Subsea7, 10.May.2024) — Subsea 7 S.A. announced the award of a large1 contract by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye. The award will be booked in backlog in Q2 2024. An initial contract was awarded in May 2023 to a […]

Citgo Petroleum Reports 1Q:24 Results

(Citgo, 9.May.2024) — Citgo Petroleum Corporation reported its 2024 first quarter financial and operational results. Historically favorable refining margins and strong asset reliability led to first quarter net income of $410mn, EBITDA of $709mn and Adjusted EBITDA of $677mn, compared with net income of $937mn and EBITDA of approximately $1.4bn(2) for the first quarter of 2023. (1) EBITDA […]

GeoPark Signs New Offtake Agreement with Vitol for the Llanos 34 Block in Colombia

(GeoPark, 9.May.2024) — GeoPark Limited (NYSE: GPRK) announces the execution of an offtake and prepayment agreement with Vitol, one of the world’s leading energy and commodity companies. The offtake agreement provides for GeoPark to sell and deliver to Vitol a minimum of 20,000 bopd of production from the Llanos 34 […]

Petro-Victory Reserves and Resources as of 31 Dec. 2023

(Petro-Victory Energy Corp., 9.May.2024) — Petro-Victory Energy Corp. (TSXV: VRY) announced the results of its 2023 year-end reserves evaluation by GLJ, Ltd. The company holds 100% working interest in all forty-one (41) blocks. Six (6) of the forty-one (41) blocks have reserves valuation in the report. The company continues to invest […]

Oil Companies Expand Offshore Drilling, Pointing to Energy Needs

(The New York Times, 9.May.2024) — Shell and others say they plan to drill for oil and gas in the Gulf of Mexico in part because doing so releases fewer greenhouse gases than drilling on land. About 80 miles southeast of Louisiana’s coast, 100,000 metric tons of steel floats in […]

Africa
Gabon

Gabon Oil Company to Discuss Investment Opportunities at African Energy (IAE) 2024

(Energy Capital & Power, 9.May.2024) — Gabon Oil Company (GOC) will participate as a Platinum Sponsor at the Invest in African Energy 2024 forum, affirming its commitment to maximizing production and attracting new players to Gabon’s upstream space. As Gabon’s national oil company (NOC), GOC is leading efforts to increase […]

PetroTal Announces Q1 2024 Financial and Operating Results

(PetroTal, 9.May.2024) — PetroTal Corp. (TSX: TAL, AIM: PTAL and OTCQX: PTALF) reported its operating and financial results for the three months ended 31 Mar. 2024 (“Q1”). All amounts herein are in United States dollars unless otherwise stated. Selected Q1 2024 Highlights — Average Q1 2024 sales and production of […]

CGG Launches AI Cloud Solution Powered by NVIDIA

(CGG, 9.May.2024) — CGG announced the launch of its AI Cloud solution, designed to meet the needs of data-intensive industries, including life sciences, digital media, manufacturing and geoscience, that seek to optimize and accelerate their demanding and resource-heavy AI workloads. CGG’s new AI Cloud solution combines the latest high-performance architecture, […]

Dragonfly Energy Announces Breakthrough in Lithium Battery Production

(Dragonfly Energy, 9.May.2024) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) has made a significant breakthrough in battery manufacturing with the successful production of PFAS-free electrodes in lithium battery cells. As concerns mount over PFAS (per- and polyfluoroalkyl substances), also known as ‘forever chemicals,’ Europe is poised to enact restrictions on its […]

OTC Discusses the Future of the Global Energy Evolution

(OTC, 9.May.2024) — The 55th annual Offshore Technology Conference (OTC) concluded today at NRG Park, uniting the world’s elite energy experts and professionals, to discuss the future of offshore energy. OTC 2024 showcased breakthrough innovations in the industry, and a multi-disciplinary technical program exploring the technologies needed to address the […]

NextDecade Provides 1Q:24 Business Update

(NextDecade, 9.May.2024) — NextDecade Corporation (NASDAQ: NEXT) provided an update on developmental and strategic activities for the first quarter 2024 and early second quarter 2024. CEO Commentary “Construction of Phase 1 at the Rio Grande LNG Facility continues to progress according to plan, as we work alongside Bechtel to construct […]

Karpowership and Petrobras to Enhance Integrated Gas Projects in the Americas

(Karpowership, 7.May.2024) — Karpowership and Petrobras signed a Memorandum of Intent (MoI) to combine their respective expertise in the natural gas and power sectors. This includes liquefaction for both floating and onshore natural gas, storage of natural gas and LNG, as well as regasification programs, to guarantee supply and meet the […]

New Pacific Metals Reveals Financial Results

(New Pacific Metals Corp., 7.May.2024) — New Pacific Metals Corp. reports its financial results for the three and nine months ended 31 Mar. 2024. All figures are expressed in US dollars unless otherwise stated. FINANCIAL RESULTS Net loss attributable to equity holders of the Company for the three and nine months ended 31 Mar. […]

Vista and Nabors to Deploy Third Drilling Rig to Vaca Muerta

(Vista, 6.May.2024) — Vista Energy (NYSE: VIST) and Nabors Industries (NYSE: NBR) announced today the official signing of the contract to add a third drilling rig, aiming to accelerate Vista´s development of Vaca Muerta in southern Argentina. The signing occurred at Nabors’ offices in Houston, with the participation of Juan […]

Petrobras Updates about Braskem

(Petrobras, 6.May.2024) — Petrobras informs, according to the notices to the market published on 09/18/2023, 08/22/2023, 08/14/2023 and 07/10/2023, that it is conducting due diligence on Braskem for the possible exercise of tag along or preemptive rights, in the event of the sale of the shares held by Novonor in […]

Canada Nickel Updates on Results at Reid Project

(Canadian Nickel, 6.May.2024) — Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) provided an update on its 2024 exploration program with assay results from four new holes at its Reid property, which included the best drill result to date from the property. Six drill rigs are currently operating across the company’s […]

PEMEX Continues Path to Transformation

(PEMEX, 3.May.2024) — During the morning press conference held by the President of Mexico, Andrés Manuel López Obrador, the CEO of Petróleos Mexicanos (PEMEX), Octavio Romero Oropeza, described the operational, financial and administrative progress of the institution for the 2019-2024 period, as part of the strategy to achieve energy self-sufficiency. […]

US to Lose Canadian Gas when LNG Canada Starts Up

(Reuters, 3.May.2024) — The start-up of LNG Canada, the country’s first such export terminal, is likely to strain its natural gas supplies for multiple years and force producers to reduce exports to the U.S., where demand for the fuel is record high, companies said. Shell-led LNG Canada has begun testing its […]

Summit Reports 1Q:24 Results

(Summit Midstream, 2.May.2024) — Summit Midstream Partners, LP (NYSE: SMLP) (SMLP or the “Partnership”) announced its financial and operating results for the three months ended 31 Mar. 2024. Highlights Reduced net leverage ratio to approximately 3.9x, a dramatic reduction from 5.4x in the fourth quarter of 2023, furthering progress toward achieving 3.5x net […]

Sandstorm Gold Royalties Reports 1Q:24 Results

(Sandstone Gold, 2.May.2024) — Sandstorm Gold Ltd. (NYSE: SAND) (TSX: SSL) has released its financial results for the first quarter ended 31 Mar. 2024 (all figures in U.S. dollars). First Quarter Highlights Revenue of $42.8 million (Q1 2023 — $44mn); Attributable gold equivalent ounces1 of 20,316 ounces (Q1 2023 — 28,368 ounces); Cash flows from operating activities, excluding changes […]

Marathon Oil Reports 1Q:24 Results

(Marathon, 1.May.2024) — Marathon Oil Corporation (NYSE: MRO) reported first quarter 2024 net income of $297mn or $0.52 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 $317mn or $0.55 per diluted share. Net operating cash flow was $757mn or $861mn before changes […]

Touchstone on Acquisition of Trinity Exploration and Production Plc

(Touchstone, 1.May.2024) — Touchstone Exploration Inc. (TSX, LSE: TXP) has reached an agreement with Trinity Exploration and Production Plc on the terms of an all-share acquisition by which Touchstone will acquire all of the issued and to be issued ordinary share capital of Trinity. Trinity is a crude oil exploration, […]

Uranium Energy on Bill to Ban Russian Uranium Imports

(Uranium Energy, 1.May.2024) — Uranium Energy Corp (NYSE American: UEC) applauds last night’s vote by the United States Senate for passing H.R. 1042, a bill to ban Russian uranium imports into the United States, by unanimous consent. The House of Representatives passed the bill in December 2023. Senator Barrasso of Wyoming stated: […]

Southern Power expands Millers Branch Solar Facility in Texas

(Southern Power, 1.May.2024) — Southern Power, a subsidiary of Southern Company, announced the expansion of its 29th solar project — Millers Branch Solar Facility. The Phase II expansion represents an additional 180-megawatts (MW) from the current Phase I 200 MW facility that is nearing the start of construction. The project […]

APA Corp. Announces 1Q:24 Financial and Operational Results

(APA Corp., 1.May.2024) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first quarter of 2024. Key Takeaways Reported production of 389,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 320,000 BOE per day; Generated net […]