(LNG Group, 30.Apr.2024) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) announced its financial and operating results for the year ended on 31 Dec. 2023. On 15 Aug. (the “Closing Date”), LNG Energy Group completed the acquisition of Lewis Energy Colombia, Inc. and the financial and […]
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.
Luca Mining Reports 1Q:24 Results
(Luca Mining, 30.Apr.2024) — Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce financial results for the three and twelve months ended 31Dec. 2023.Production Fourth Quarter 2023 Total production amounted to 11,808 ounces of gold equivalent (“AuEq”), which was comprised of 3,155 ounces of gold, 155,763 ounces of silver, […]
Frontera on 1Q:24 Conference Call
(Frontera, 30.Apr.2024) — Frontera Energy Corporation (TSX: FEC) will release its financial and operational results for the first quarter ended 31 Mar. 2024, after markets close on 8 May 2024. A conference call for investors and analysts will be held on 9 May 2024, at 2:30 p.m. Eastern Time. Participants will include Gabriel de Alba, Chairman […]
EAI’s NRGBriefs: April 2024
(Energy Analytics Institute, 30.Apr.2024) — Energy briefs as well as others related to finance and projects during April 2024 including ExxonMobil, Hess and CNOOC announcing a $12.7bn FID for their sixth project offshore Guyana dubbed Whiptail; YPF SA launching the “Andes” project to divest 55 mature conventional fields and focus […]
Petrobras Releases 1Q:24 Operational Report
(Petrobras, 29.Apr.2024) — In 1Q24, average production of oil, NGL and natural gas reached 2,776 MMboed, increase of 3.7% when comparing with the same period last year (1Q23). Among the main factors behind this variation, we can highlight the ramp-up of the FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi and […]
GoldMining Enhances Value of the Crucero Gold Project, PeruÂ
(GoldMining, 29.Apr.2024) — GoldMining Inc. (GLDG) announced that the company, through a wholly owned subsidiary, has completed a transaction with CompañĂa de Minas Buenaventura S.A.A. to reduce an existing third-party royalty on its 100% owned Crucero gold project, Peru. Highlights: The Royalty was granted by a previous operator that acquired the Project […]
JinkoSolar Repurchased 4,203,178 ADSs
(JinkoSolar, 29.Apr.2024) — JinkoSolar Holding Co., Ltd. (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that as of the date of this press release, the Company has repurchased a total of 4,203,178 ADSs in an aggregate amount of approximately US$104.1mn in the open market under […]
JA Solar Solidifies Partnership with Exel Solar
(JA Solar, 29.Apr.2024) — JA Solar, a leader in the photovoltaic (PV) industry, has entered into a 200MW PV module distribution agreement with Exel Solar, a respected distributor in Mexico. This strengthened partnership, formalized in April 2024, seeks to enhance collaboration between the two companies and support Mexico’s goal of reducing greenhouse gas emissions by 40% […]
Broken Promises: US Oil Sanctions and Venezuela
(Rystad Energy, 29.Apr.2024) — For President Joe Biden, the situation in Venezuela remains a fly in the ointment, weighing on the administration’s energy and foreign policy. President Nicolas Maduro has seemingly remained impervious to either the carrot or stick handed out by the US and looks set to carry out […]
Ecopetrol Reveals Senior Management Changes
(Ecopetrol, 26.Apr.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that the Board of Directors, at its meeting held on 26 Apr. 2024, made the following appointments in property: 1. Felipe Trujillo LĂłpez as Vice President Commercial and Marketing, effective as of this date. Dr. Trujillo has been in charge of this Vice-Presidency since 20 […]
Chevron Reveals 1Q:24 Results
(Chevron, 26.Apr.2024) — Chevron Corporation (NYSE: CVX) reported earnings of $5.5bn ($2.97/share – diluted) for first quarter 2024, compared with $6.6bn ($3.46/share – diluted) in first quarter 2023. Foreign currency effects increased earnings by $85mn. Adjusted earnings of $5.4bn ($2.93/share – diluted) in first quarter 2024 compared to adjusted earnings of […]
Exxon Reports 1Q:24 Results, Updates on Guyana
(Exxon, 26.Apr.2024) — Exxon Mobil Corporation announced first-quarter 2024 earnings of $8.2bn, or $2.06 per share assuming dilution. Capital and exploration expenditures were $5.8bn, consistent with the company’s full-year guidance of $23bn to $25bn. “Our strategy and focus on execution excellence is creating significant value for society and our shareholders,” […]
Phillips 66 Reports 1Q24 Results, Highlights Strategic Priorities
(Phillips 66, 26.Apr.2024) — Phillips 66 (NYSE: PSX) announced first-quarter earnings of $748mn, compared with earnings of $1.3bn in the fourth quarter. Excluding special items of $74mn, the company had adjusted earnings of $822mn in the first quarter, compared with fourth-quarter adjusted earnings of $1.4bn. “In the first quarter, we […]
CNOOC Limited Achieves Strong Growth
(CNOOC, 25.Apr.2024) — CNOOC Limited (SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announced its operating results for the first quarter of 2024. In the first quarter, the company pressed ahead with oil and gas exploration and development, advanced the enhancement of quality and efficiency, and consolidated its advantage […]
Hess Reports Net Production of 190,000 boe/d from Guyana
(Hess, 25.Apr.2024) — Hess Corporation reported that is net Guyana production was 190,000 b/d in the first quarter of 2024, up 70% from 112,000 b/d in the first quarter of 2023, while net Bakken production was 190,000 boe/d, up 17% from 163,000 boe/d in the first quarter of 2023. ____________________
Talos Reveals Organizational Changes
(Talos Energy, 25.Apr.2024) — Talos Energy Inc. (NYSE: TALO) announced updates to its organization that support Talos’s growth and strategic priorities and the recently closed QuarterNorth Energy Inc. acquisition. Sergio Maiworm, who joined Talos in 2018, was promoted to Executive Vice President and will continue to serve as Chief Financial […]
Repsol Posts 1Q:24 Net Income of €969mn
(Repsol, 25.Apr.2024) — Repsol reported operating cash flow during the first quarter of 2024 was €1,362mn, €465mn lower than in the same period of 2023. Excluding working capital, Operating Cash Flow during the quarter more than covered organic investments, dividends, treasury shares and interests. Group’s net debt at the end […]
Petrobras and Enarsa Ink MOU for Natural Gas Studies
(Energy Analytics Institute, 25.Apr.2024) — On 18 Apr. 2024, Petrobras inked a Memorandum of Understanding (MOU) with the Argentina state energy company Enarsa to study partnerships in the natural gas segment. “The non-binding agreement has a term of three years and will allow for the exchange of information; the assessment […]
Nabors Reveals 1Q:24 Results
(Nabors, 24.Apr.2024) — Nabors Industries Ltd. (NYSE: NBR) reported first quarter 2024 operating revenues of $734mn, compared to operating revenues of $726mn in the fourth quarter of 2023. The net loss attributable to Nabors shareholders for the quarter was $34mn, compared to a net loss of $17mn in the fourth quarter. This equates to a loss of $4.54 per diluted share, […]
LNG Energy Inks Productive Participation Contracts in Venezuela
(LNG Energy Group, 24.Apr.2024) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) announced that its wholly-owned subsidiary, LNGEG Growth I Corp. (LNG Venezuela), entered into a binding agreement with PDVSA Petroleo S.A. (PPSA), a subsidiary of Petroleos de Venezuela S.A. (PDVSA), the Venezuelan national oil […]
Weatherford Releases 1Q:24 Financial, Operational Results
(Weatherford, 24.Apr.2024) — Weatherford International plc (NASDAQ: WFRD) announced its results for the first quarter of 2024 and operational updates from Oman, the U.S. Gulf of Mexico, Canada, Thailand and beyond. ____________________
Billionaire Texas Oilman Inks Deal with PDVSA as US Sanctions Loom
(AP, 24.Apr.2024) — A company started by a Texas billionaire oilman announced a deal Wednesday with Venezuela’s state-owned oil company to rehabilitate five aging oil fields, days after the Biden administration put a brake on sanctions relief over concerns about the fairness of the country’s upcoming presidential election. LNG Energy […]
Potential Sour Crude Deficit Looming in the Gulf
(BTU Analytics, 23.Apr.2024) — Historically, more than half of Mexico’s heavy sour crude oil exports, mostly Maya blend, end up in the U.S., which is key for refining along the Gulf Coast, also known as PADD 3. However, recent reports suggest Mexico’s national oil company, PetrĂłleos Mexicanos (Pemex), could cut […]
FERC to Allow Venture Global to Introduce Hazardous Flies to Gas Gate
(Energy Analytics Institute, 23.Apr.2024) — The Federal Energy Regulatory Commission (FERC) gave permission to Venture Global Plaquemines LNG, LLC to introduce hazardous fluids to the gas gate as described in the LNG company’s 16 Apr. 16, 2024 filing. “Your request is consistent with Conditions 11, 113, 114, 115, 117, and […]
Petrobras Releases Details for 1Q:24 Conf. Call
(Petrobras, 22.Apr.2024) — Petrobras informs that it will release its 1Q:24 Production and Sales Report on 29 Apr. 2024, and its 1Q:24 Financial Performance Report on 13 May 2024, both after the markets close. On 14 May 2024, a webcast will be held to present the company’s results for the […]
Petrobras on Cumulative Vote Process for AGM
(Petrobras, 22.Apr.2024) — Petrobras, in compliance with article 33, item XXXIII, of CVM Resolution 80/22, informs that it received from shareholders who jointly hold more than 5% (five percent) of its common shares, the request to adopt the cumulative vote system in the election of members of Board of Directors […]
Power Nickel Clarifies Press ReleaseÂ
(Power Nickel, 22.Apr.2024) — Power Nickel Inc. (TSXV: PNPN) (OTCBB: CMETF) (Frankfurt: IVV) announces that as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure. The company is clarifying its 15 Apr. 2024 news release (the “Release”). The Release […]
Touchstone Closes Expanded Bank Facilities
(Touchstone, 22.Apr.2024) — Touchstone Exploration Inc.‘s wholly owned Trinidadian subsidiary Touchstone Exploration (Trinidad) Ltd. has entered into the third amended and restated loan agreement with our Trinidad based lender. The amended loan agreement provides for an additional $10mn five-year non-revolving term loan facility and an increase to our existing revolving […]
Petrobras Informs about Minority Shareholders’ Nominations for Fiscal Council
(Petrobras, 22.Apr.2022) — Petrobras, following up on the communication from 20 Mar. 2024 and 3 Apr. 2024, informs that it has received correspondence from a minority shareholder holding preferred shares requesting their nomination (main) and an alternate name for the positions of Fiscal Council, as detailed below: a) Nominations for […]
G Mining Ventures and Reunion Gold Announce CombinationÂ
(G Mining, 22.Apr.2024) — G Mining Ventures Corp. (GMIN) (TSX: GMIN) (OTCQX: GMINF) and Reunion Gold Corporation (RGD) (TSXV: RGD) (OTCQX: RGDFF) entered into a definitive agreement to combine the two companies, setting the stage for the creation of a leading intermediate gold producer (the “Transaction“). All amounts are in CAD unless stated otherwise Sets the […]
Port of Corpus Christi Announces 1Q:24 Volumes
(Port of Corpus Christi, 19.Apr.2024) — The Port of Corpus Christi and its customers moved 48.9 million tons through the Corpus Christi Ship Channel in the first quarter of 2024, a slight decrease from the first quarter of 2023 of just over one percent. The Port’s customers saw a slight […]
Deals Show Enduring Appeal of US Gas
(Rystad Energy, 19.Apr.2024) — European companies have been cautiously adding to their upstream positions. More deals could follow. Ed Crooks examines the forces shaping the energy industry globally The great investor Warren Buffett says one of his rules is “never bet against America”. There are many who share that view, […]
JinkoSolar Repurchased 3,246,425 ADSs under Its Share Repurchase Program
(JinkoSolar, 18.Apr.2024) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced that as of the date of this press release, the company has repurchased a total of 3,246,425 ADSs in an aggregate amount of approximately US$82.5mn in the open market under its share repurchase program announced in July 2022 and the […]
Petrobras Inks MOU with Chinese Company CNCEC
(Energy Analytics Institute, 18.Apr.2024) — Petrobras inked a memorandum of understanding with the China National Chemical Energy Company (CNCEC) covering several areas, especially renewable energies and energy transition. The partnership also provides for the evaluation of potential commercial agreements in the areas of oil exploration; fertilizer production from natural gas […]
Petrobras Updates about Intermediaries of its Share Buyback Program
(Petrobras, 18.Apr.2022) — Petrobras, following up on the Material Fact disclosed on 4 Aug. 2023, informs, for the purposes of item 11 of Annex G of CVM Resolution 80/22, that it has updated the list of institutions that may act as intermediaries in the company’s Buyback Program, as indicated below: […]
Santos Reports 1Q:24 Results
(Santos, 18.Apr.2024) — Santos reported strong first quarter free cash flow generation and major project delivery. Focus on operational excellence generates strong free cash flow Strong free cash flow from operations of US$692mn. Sales revenue of US$1.4bn. Production of 21.8 mmboe despite severe weather events and planned maintenance activities. Bayu-Undan […]
US Reimposes Venezuela Oil Sanctions
(Argus, 17.Apr.2024) — The US administration today reimposed sanctions targeting Venezuela’s oil exports and energy sector investments and set a deadline of 31 May for most foreign companies to wind down business with state-owned PdV. The US decision rescinds a sanctions waiver issued last October, which allowed Venezuela to sell […]
MEEI Says OFAC GL44A Doesn’t Impact Trinidad’s Amended License
(Trinidad and Tobago Ministry of Energy and Energy Industries, 17.Apr.2024) — The Office of Foreign Assets Control (OFAC), Department of Treasury of the United States Government today issued General Licence 44A which governs sanctions related to the Bolivarian Republic of Venezuela and deals with Authorizing the Wind Down of Transactions Related […]
Expiration of US Oil License to Venezuela to Impose a Ceiling on Output Growth
(Reuters, 17.Apr.2024) — The expiration of the widest U.S. license so far granted to Venezuela’s oil and gas industry will put a ceiling on the South American country’s slow crude production growth unless Washington grants enough individual authorizations to compensate, according to analysts and experts. Washington officials said on Wednesday the license […]
June Deadline set for Citgo Auction Bids
(Argus, 17.Apr.2024) — Bidders for Citgo‘s US refining assets have until 11 June to submit offers for the company’s 805,000 b/d of refining capacity and associated assets, with a tentative sale hearing set for 15 July. Documents filed Tuesday in the US District Court for the District of Delaware set […]
Petrobras’ Executive Board Approves Sale of Stake in Cherne and Barre Fields
(Petrobras, 17.Apr.2024) — Petrobras said its Executive Board approved the sale of its entire stake in the Cherne and Bagre fields, located in shallow waters in the Campos Basin, to Perenco PetrĂłleo e Gás do Brasil Ltda. Production from the two fields was interrupted in March 2020 and the respective […]
OFAC Issues GL44A to Replace GL44 in Venezuela
(Energy Analytics Institute, 17.Apr.2024) — The U.S. Office of Foreign Assets Control (OFAC) issued General License 44A, which supersedes and replaces General License 44, and authorizes the wind down of transactions related to oil or gas sector operations in Venezuela. ____________________ By Piero Stewart. © Energy Analytics Institute (EAI). All […]
Negotiations Fail to Renew Venezuela Sanctions Relief License
(S&P Global, 17.Apr.2024) — A few hours before the expiration of a temporary oil and gas sanctions relief license, the governments of Venezuela and the United States continue to negotiate without success its renewal under the requirement of holding competitive presidential elections on July 28, Venezuelan officials said. “Today at […]
Infinium and Kinetik Reach Innovative CO2 Utilization Deal
(Infinium, 16.Apr.2024) — Infinium, has reached an agreement with a subsidiary of midstream energy company  Kinetik Holdings Inc. (NYSE: KNTK) to purchase carbon dioxide (“CO2”) captured from Kinetik’s gas gathering and processing system in the Permian Basin for use as a feedstock in the production of ultra-low carbon electrofuels (“eFuels”). Infinium […]
Judge Suspends Effects of Petrobras Board Member Suspension
(Energy Analytics Institute, 16.Apr.2024) — Brazilian energy giant Petrobras said the reporting judge of the 4th Panel of the Federal Regional Court of the 3rd Region issued a decision today suspending the effects of the decision suspending Mr. Pietro Adamo Sampaio Mendes from exercising the position of board member of […]
KBR and GeoLith to Offer Zero-Emission Lithium Technology Globally
(KBR, 15.Apr.2024) — KBR (NYSE: KBR) has signed an alliance agreement with GeoLith SAS to offer its advanced Direct Lithium Extraction (DLE) technology, Li-Capt®. This technology enables zero-emission lithium extraction from untapped sources like geothermal and oil well brines. Under the terms of the agreement, KBR will serve as the exclusive global licensor […]
ENGIE EnergĂa Chile Reveals Expiration of Cash TenderÂ
(EECL, 15.Apr.2024) — ENGIE EnergĂa Chile S.A. (EECL) said its previously announced cash tender offer (the “Tender Offer”) for any and all of its outstanding 4.500% Notes due 2025 (the “Notes”) has expired at 5:00 p.m., New York City time, on 12 Apr. 2024 (the “Expiration Date”). The Tender Offer was made pursuant to an offer […]
Pemex to Remain A Fiscal Challenge for Next President of Mexico
(S&P Global Ratings, 15.Apr.2024) — Mexico’s relationship with state-owned oil giant Pemex will remain a fiscal challenge for the country’s next presidential administration, said S&P Global Ratings in “Pemex Will Remain A Fiscal Challenge For Mexico’s Next President.” The national elections in June encompass the presidency and both chambers of […]
US Not to Renew Easing of Venezuela Oil Sanctions Unless Progress Made on Elections
(Reuters, 15.Apr.2024) — The U.S. will not renew a temporary license set to expire on Thursday that widely eased sanctions on Venezuela’s oil and gas sector, a State Department spokesperson said, unless progress is made by President Nicolas Maduro on commitments for free and fair elections this year. The U.S. […]
EQT Inks Non-Operated Asset Transaction with Equinor
(EQT, 15.Apr.2024) — EQT Corporation (NYSE: EQT) entered into an agreement with Equinor USA Onshore Properties Inc. and their affiliates to sell an undivided 40% interest in its non-operated natural gas assets in Northeast Pennsylvania, representing approximately 225 MMcf/d of forecasted 2025 net production. Consideration for the transaction is comprised […]