(Chevron, 29.Feb.2024) — Chevron New Energies, a division of Chevron U.S.A. Inc., is developing a 5-megawatt hydrogen production project in California’s Central Valley. The project aims to create lower carbon energy by utilizing solar power, land, and non-potable produced water from Chevron’s existing assets at the Lost Hills Oil Field […]
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.
Milei’s Impact on Argentina’s Energy Landscape Outlook
(Energy Workforce & Technology Council, 29.Feb.2024) — Promising drastic change to Argentina’s government and economy, President Javier Milei has run into political speed bumps impacting the oil and gas industry in one of the largest shale patches in the Western hemisphere. Energy Workforce’s Latin America Chapter is eager to engage […]
Bristow Helicopter Involved in Accident
(Bristow, 28.Feb.2024) — Bristow Group Inc. confirmed that one of its search and rescue helicopters, registration LN-OIJ, was involved in an accident at about 19:40 CET approximately nine nautical miles west of Bergen, Norway. The aircraft, which is contracted to a civilian customer, was conducting a training exercise at the […]
Exxon’s Curveball Move in Guyana Alters Chevron-Hess Deal Prospects
(Reuters, 28.Feb.2024) — Exxon Mobil‘s surprise challenge to Chevron‘s acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging its holdings in the South American country. Exxon (XOM.N) said Monday it […]
Petrobras Inks Evaluation Deal with Yara Brasil Fertilizantes
(Petrobras, 28.Feb.2024) — Petrobras signed a Memorandum of Understanding (MoU) with Yara Brasil Fertilizantes S.A. to study potential business partnerships for local initiatives in the fertilizer segment, production of industrial products and decarbonization of production. The MoU signed is of a non-binding nature and is aligned with the strategic elements […]
Exmar and Eni celebrate Congo’s first LNG cargo
ANTWERPEN, BELGIUM (Exmar, 28.Feb.2024, Words: 175) — Senior representatives from Eni, Exmar and the project partners gathered yesterday with Congolese institutions to celebrate the successful start-up of LNG production and the first shipment of LNG from the Republic of the Congo. This milestone completes the implementation of the first phase […]
Antaisolar Showcases Full-Scenario Solutions at PV EXPO
(Antaisolar, 28.Feb.2024) — Antaisolar, in the digital intelligent PV mounting system solutions space, showcased its innovative solutions at PV EXPO, including ground-fixed brackets, roof clamps, and solar carports. Antaisolar has been deeply cultivating Japanese market for years, providing customized full-scenario solutions, standardized design and cost reduction services according to the […]
Guyana not against Exxon acquiring Hess, VP Jagdeo says
GEORGETOWN, GUYANA (Reuters, 28.Feb.2024, Words: 95) — Guyana’s vice president Bharrat Jagdeo on Wednesday said the country will accept whatever is the result from discussions between Exxon Mobil Corp, Chevron Corp and Hess Corp regarding participation in the Stabroek block. Guyana is ready to welcome Chevron into the country, but would also accept […]
Maduro Says Venezuela’s Economy to Grow 8% in 2024
(Energy Analytics Institute, 28.Feb.2024) — Venezuela’s President Nicolás Maduro said he expects the economy of the Opec country to grow 8% in 2024. The president made the comments during a live broadcast on Venezuelan state television. ____________________ By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
Chevron Deal to Buy Hess at Risk as Exxon, CNOOC Eye Guyana Stake
(MarketWatch, 27.Feb.2024) — Chevron warned it may not complete its planned buyout of Hess as Exxon Mobil and the China National Offshore Oil Corporation are saying the planned deal would trigger their right to boost their stakes in a Guyana venture. The warning came in a Securities and Exchange Commission […]
Exxon Raises Questions About Chevron’s $53bn Deal for Hess
(The New York Times, 27.Feb.2024) — America’s two largest energy companies, Exxon Mobil and Chevron, are jousting over a prized new source of oil in the waters off Guyana, in Latin America. The conflict is creating doubts over Chevron’s bid to acquire Hess for $53 billion, announced in October. Chevron this […]
Chevron Corp. Files S-4, Updates on Stabroek JOA
(Energy Analytics Institute, 26.Feb.2024) — Chevron Corporation believes that the $53bn merger with Hess Corporation presents the California-based energy giant with the opportunity to diversify its portfolio by acquiring Hess’ 30% interest offshore Guyana in the Stabroek block. The block has industry leading cash margins, a strong production growth outlook, potential […]
Petrobras and Arcelor Ink Deal Related to Low-Carbon Businesses
(Energy Analytics Institute, 26.Feb.2024) — Brazil’s state-owned Petrobras signed a Memorandum of Understanding (MOU) with Arcelor Mittal Brasil that aims to study potential mutually beneficial business models in the low carbon economy. The companies look to identify commercial opportunities and potential partnerships in Brazil that align with diversification and decarbonization […]
IMF Fingerprinting Indicates Bunker Fuel Offshore Tobago
(Ministry of Energy and Energy Industries, 23.Feb.2024) — The Ministry of Energy and Energy Industries (MEEI) advises that preliminary fingerprinting reports submitted to the MEEI from the Institute of Marine Affairs (IMA), indicate the hydrocarbon discharge affecting the south east coast of Tobago is an ‘intermediate fuel oil.’ These reports […]
Petrobras on Tag-along Exercise on Stake in UEGA
(Petrobras, 23.Feb.2024) — Petrobras, following up on the release disclosed on 15 Dec. 2023, has decided to exercise the tag-along right (joint sale) for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA). The value of the transaction relating to Petrobras’ stake in UEGA […]
Concacaf and Aramco Ink Multi-year Partnership
(Aramco, 23.Feb.2024) — Concacaf has agreed to a multi-year Confederation-wide partnership with Aramco, a global integrated energy and chemicals company. Aramco will become the “Official Energy Partner” for all of Concacaf’s national teams and club competitions, beginning with the upcoming W Gold Cup, commencing today through to the Final on […]
Woodside to Divest 15.1% Scarborough Interest to JERA
(Woodside, 23.Feb.2024) — Woodside has broadened its strategic relationship with JERA through a transaction that involves three core elements: equity in the Scarborough Joint Venture; LNG offtake; and collaboration on opportunities in new energy and lower carbon services.1 Woodside has executed a binding sale and purchase agreement with JERA for […]
Repsol CEO Josu Jon Imaz comments on Venezuela situation, Cardon IV production
BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 22.Feb.2024) — Repsol CEO Josu Jon Imaz commented on the Spanish company’s operations in Venezuela under Washington’s most recent OFAC license. “We are putting the same metrics we had in November before the license approved by the American administration at the end of the […]
US Lower 48 Oil Production Growth to Slow in 2024
(WoodMac, 22.Feb.2024) — US Lower 48 oil production growth exceeded expectations in 2023, adding 900,000 barrels per day (b/d) despite inflationary pressures, private consolidation, and declining rig activity. However, the repercussions of these decisions will impact supply moving forward as the region is poised for much lower growth in 2024 […]
![Repsol Reveals Strategic 2024-2027 Update [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2022/05/53431_repsol-sede-cerca.jpg)
Repsol Reveals Strategic 2024-2027 Update [PDF Downloads]
(Repsol, 22.Feb.2024) — “Over the next four years we will stay the course on the strategy we presented in our previous plan to address the energy transition and we will focus on all the types of energy that meet our customer’s needs. We are convinced that this approach, in which […]
MEEI Receives Briefing from Oil Spill Removal Specialists
(Ministry of Energy and Energy Industries, 21.Feb.2024) — Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, along with Ms. Penelope Bradshaw-Niles, Permanent Secretary, Ministry of Energy and Energy Industries (MEEI); Ms. Sandra Fraser, Permanent Secretary, MEEI; Ms. Karinsa Tulsie, […]
Petrobras and BNDES Structure Fund to support Innovation Companies
(Petrobras, 21.Feb.2024) — Petrobras and the BNDES have begun studies to structure a Corporate Venture Capital (CVC) fund to support micro, small and medium-sized technology-based companies. In this first phase, the idea is to identify the most promising sectors for this type of investment, considering themes related to the energy […]
![APA Reveals 4Q:23 Results, Updates on Suriname FID [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2022/08/us-apa-2q22-b.jpg)
APA Reveals 4Q:23 Results, Updates on Suriname FID [PDF Downloads]
(APA Corporation, 21.Feb.2024) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the fourth-quarter and full-year 2023. During the fourth-quarter 2023, APA reported net income attributable to common stock of $1.8bn, or $5.78 per share on a fully diluted basis. When adjusted for certain items that impact […]
First Modules Arrive for Woodside’s Scarborough Project
(Woodside, 21.Feb.2024) — The first three Pluto Train 2 modules for the Scarborough Energy Project have arrived in Karratha, Western Australia, marking a significant milestone for the project. The modules, fabricated by Bechtel in Indonesia, weigh a combined total of more than 4,000 metric tonnes. The modules are three of […]
Asia Pacific Could Become Global Energy Transition Leader
(WoodMac, 21.Feb.2024) — Home to half of the world’s population and contributing a third to the global GDP, the Asia Pacific region is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions until 2050. This trend is unlikely to change […]
Petrobras Makes Dividend Payment
(Petrobras, 20.Feb.2024) — Petrobras, following up on the Material Facts of 11/09/2023, 11/21/2023 and 02/09/2024, informs that it will pay today the first installment of dividends and interest on capital (JCP) relating to the balance sheet of 30 Sep. 2023. The gross amount to be distributed today is R$ 0.68260418 […]
Backcast Partners Announces Strategic Investment in Renegade Group
(Backcast Partners, 20.Feb.2024) — Backcast Partners, a provider of debt and equity capital for both middle-market private equity and non-private equity owned companies, announced its most recent investment in support of Renegade Group, LLC‘s refinancing of its existing debt. Renegade is a portfolio company of Corinthian Capital Partners. Renegade, established […]
Aker ASA Reveals Preliminary Annual Results 2023
(Aker, 20.Feb.2024) — The Net Asset Value (“NAV”) of Aker ASA and holding companies Aker was NOK 63.2bn at the end of the fourth quarter 2023, or NOK 64.3bn before dividends paid, compared to NOK 64.1bn at the end of the third quarter. Aker’s Board proposes to pay a cash […]
Guyana’s $1.9bn gas-to-power project delayed to 2025
GEORGETOWN, GUYANA (Reuters, 20.Feb.2024, Words: 297) — Guyana will delay until 2025 its biggest effort to capitalize on its energy bounty, a $1.9 billion gas-to-power project that was to start this year, using untapped gas to slash electricity costs, a Ministry of Natural Resources consultant said on Tuesday. The rising […]
MEEI Engages with Oil Spill Removal Experts
(MEEI, 20.Feb.2024) — In accordance with the National Oil Spill Contingency Plan (NOSCP), the Ministry of Energy and Energy Industries (MEEI) continues to collaborate with the Tobago House of Assembly (THA) and the Tobago Emergency Management Agency (TEMA), to progress oil spill response operations off the southern coast of Cove, […]
France High-Level Business Council 2nd Plenary Meeting
(TotalEnergies, 19.Feb.2024) — H.E. Dr. Sultan Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology and MD & CEO of ADNOC, and Mr. Patrick Pouyanné, Chairman and CEO of TotalEnergies chaired, this Monday in Paris, the second plenary meeting of the UAE – France High-Level Business Council, in […]
PDVSA’s domestic refineries producing only around 230,000 b/d
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 18.Feb.2024, Words: 130) — Venezuela’s state-owned oil giant Petróleos de Venezuela (PDVSA), which has a total processing capacity of 1.303 million b/d from its 6 domestic refineries – Amuay, Cardón, Bajo Grande, Puerto la Cruz, El Palito and San Roque – is only […]
SSR Mining Updates on Rescue Efforts at Çöpler Mine
(SSR Mining, 18.Feb.2024) — SSR Mining Inc., in regards to ongoing rescue efforts at the Çöpler mine in Türkiye, said search and rescue efforts to locate nine missing workers following the 13 Feb. 2024 incident at the Çöpler mine continue. “Our thoughts continue to be with the families of the […]
EPCOR and SynerGen Reveal Solar Project in Eastern New Mexico
(EPCOR, 18.Feb.2024) — EPCOR USA and SynerGen Solar entered into an agreement to develop nearly 500 acres of land for the purpose of developing a solar energy project. SynerGen will design, build, operate and own the solar facility which will be built less than five miles south of downtown Clovis […]
![Eni Reports 2023 Full Year Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/10/congo.jpg.rend_.1140.0-source-eni.jpg)
Eni Reports 2023 Full Year Results [PDF Downloads]
(Eni SpA, 16.Feb.2024) — Eni‘s Board of Directors, chaired by Giuseppe Zafarana, yesterday approved the unaudited consolidated results for the full year and the fourth quarter of 2023. Eni CEO Claudio Descalzi said: “2023 was another year of excellent results for Eni in the face of an uncertain and volatile […]
![Shell LNG Outlook 2024 [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2024/02/shell-lng-outlook-2024.png)
Shell LNG Outlook 2024 [PDF Downloads]
(Shell plc, 19.Feb.2024) — Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as industrial coal-to-gas switching gathers pace in China and South Asian and South-east Asian countries use more LNG to support their economic growth. Global trade in LNG reached 404 […]
TotalEnergies on Capital Increase Reserved for Employees in 2024
(TotalEnergies, 16.Feb.2024) — In accordance with its policy in favor of employee shareholding, TotalEnergies SE is implementing its annual capital increase reserved for employees and former employees of the company. Through this operation, TotalEnergies intends to continue involving its employees in the company’s growth. Employee shareholders, within the meaning of […]
US House Passes Bill to Reverse Biden’s LNG Pause
(Reuters, 15.Feb.2024) — A bill to strip the power of President Joe Biden’s administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate. The House approved the bill sponsored by Representative August Pfluger […]
Carbon Intensity Regulation to Make, Break Low-carbon Hydrogen Market
(WoodMac, 15.Feb.2024) — The future of low-carbon hydrogen hinges on global policymakers introducing regulations and subsidies that focus on the carbon intensity of the hydrogen produced rather than its colour, according to Wood Mackenzie’s Horizons report ‘Over the rainbow: Why understanding full value-chain carbon intensity is trumping the colour of […]
Aquaductus Offshore Pipeline Notified as an IPCEI Project
(GASCADE, 15.Feb.2024) — The AquaDuctus hydrogen pipeline planned by GASCADE Gastransport GmbH in the North Sea has received state aid approval from the European Commission under the IPCEI hydrogen framework: “AquaDuctus will receive the green hydrogen produced in the North Sea and transport it to the German mainland. The offshore […]
Mexico Begins LNG Buildout as US Developers Look to South
(Canary Media, 15.Feb.2024) — At least a half-dozen LNG export projects are underway in the country — but whether most are completed will depend on politics to the north. Environmental activists have turned a spotlight in recent months on the rapid expansion of liquefied natural gas export terminals along the Gulf Coast of […]
TotalEnergies Reveals Positive Appraisal of Cronos Gas Find in Cyprus
(TotalEnergies, 15.Feb.2024) — TotalEnergies announces the successful completion of the drilling and production test of the Cronos-2 appraisal well, in Block 6, offshore Cyprus. TotalEnergies holds a 50% interest in Block 6, alongside with Eni (50%, operator). The Cronos-2 well confirmed the lateral extension of the Cronos-1 discovery drilled in […]
Guyana Is Trying to Keep Its Oil Blessing From Becoming a Curse
(Bloomberg, 15.Feb.2024) — Guyana has undergone a huge transformation in the near decade since a massive oil discovery off its shores. That’s on full display at the Georgetown Marriott hotel. By sundown, oil executives in branded shirts step out of vans and mingle with tables of development bank officials, already debriefing over yucca […]
Frontera Announces 2024 Capital and Production Guidance
(Frontera, 15.Feb.2024) — Frontera Energy Corporation (TSX: FEC) announced its full year 2024 capital and production guidance, provides an update on its estimated fourth quarter 2023 and full year average daily production and provides and update on shareholder value initiatives, including the initiation of a quarterly dividend of CAD $0.0625 […]
Model Updates on EPCI Projects, Brazil FPSOs
(Energy Analytics Institute, 15.Feb.2024) — Modec‘s profits increased significantly due to good progress in the construction work of new EPCI projects and improved asset integrity of old Brazil FPSO vessels, the company revealed 15 Feb. 2024 in its 2023 financial results analysts presentation. EPCI works recorded good progress, including FPSOs awarded […]
DeepOcean Secures Major Contract with ExxonMobil Guyana
DeepOcean, 14.Feb.2024) — Ocean services provider DeepOcean has been awarded a contract by ExxonMobil Guyana for the provision of subsea construction and IMR (inspection, maintenance, and repair) services offshore Guyana, South America. “This is our first major contract with ExxonMobil in the Americas and our market entry into the exciting […]
Sangomar FPSO Makes it to Senegal
(Woodside Energy, 13.Feb.2024) — Woodside Energy announced that the Léopold Sédar Senghor Floating Production Storage and Offloading (FPSO) facility has safely arrived offshore Senegal. This is a significant step toward achieving First Production from the Sangomar field which is targeted for mid-2024. The arrival of the FPSO from Singapore at […]
Woodside Gets Social Impact Assessment Approval for Trion
(Woodside Energy, 13.Feb.2024) — Woodside announced the Trion oil and gas project has received approval for its Social Impact Assessment from the Mexican Ministry for Energy. The Social Impact Assessment was submitted in May 2023. It provides a comprehensive assessment of the project and outlines the ways in which Woodside […]
LG Energy Solution Strengthens Partnership with WesCEF
(LG Energy Solution, 13.Feb.2024) — LG Energy Solution (KRX: 373220) signed an offtake agreement with Wesfarmers Chemicals, Energy and Fertilisers (WesCEF) for lithium concentrate, further advancing the companies’ pre-existing partnership driven by the objective to deliver efficient and sustainable power solutions to the North American market. Under the agreement, WesCEF […]
Reactive Downhole Tools Accelerates Growth through Restructuring
(Reactive Downhole Tools, 13.Feb.2024) — Realigning regional resources into a global focus, provider of high-performance well completion solutions and technologies to the global oil and gas industry, Reactive Downhole Tools, has announced a significant restructure of its Senior Management Team. Under the leadership of CEO Mike Allen, Niall Urquhart has […]