(SLB, 30.Jan.2024) — SLB (NYSE: SLB) announced a significant step toward fully autonomous drilling operations at Equinor’s Brazilian Peregrino C platform. SLB digital technologies for surface automation, autonomous on-bottom drilling, and directional drilling were combined to enable 99% of a 2.6-kilometer section to be drilled in autonomous control mode. Over a […]
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.
SLB Reaffirms 2024 Financial Guidance
(SLB, 30.Jan.2024) — SLB (NYSE: SLB) is reaffirming its full-year 2024 financial guidance. “We acknowledge the decision by Saudi Aramco to maintain its Maximum Sustainable Capacity (MSC) at 12 million barrels per day (MMBD), and not to continue increasing MSC to 13 MMBD,” said SLB Chief Executive Officer Olivier Le […]
Texas Hydrocarbon Industry at a Glance
(Editors at Energy Analytics Institute, 30.Jan.2024) — Texas is a major crude oil and natural gas producing state. Such that in calendar year 2023 its oil production represented 43% of the total US oil production, while its gas production represented 28% of the total US gas production, according to data […]
US Warns Maduro of Sanctions Snap Back
(Energy Analytics Institute, 30.Jan.2024) — US State Department spokesperson Matthew Miller said there’s still time for the Nicolás Maduro regime in Venezuela to change course but said that if they didn’t that Washington was prepared “to allow General License #44 expire and “our sanctions will snap back into place.” “There […]
Port of Corpus Christi Names Cindy Bertolami CFO
(Port of Corpus Christi, 30.Jan.2024) — The Port of Corpus Christi has appointed Cindy Bertolami as its new Chief Financial Officer (CFO). Bertolami succeeds Kent Britton, who was appointed Chief Executive Officer in Sep. Previously, Bertolami served four years as Director of Finance for the Port of Corpus Christi. She […]
Biden’s Gas Export Review has Uncertain Consequences
(The Hill, 30.Jan.2024) — President Biden’s pause on gas export projects may not have significant impacts by itself, energy analysts say. But the changes he’s making to underlying gas project reviews could have implications for global gas supply and climate change, depending on whether gas projects face higher risks of being rejected. The Biden […]
![US Refiner Marathon Petroleum Reports 4Q:23 Results [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2024/01/8166za_0143_1365px-source-mpc.jpg)
US Refiner Marathon Petroleum Reports 4Q:23 Results [PDF Download]
(MPC, 30.Jan.2024) — Marathon Petroleum Corp. (NYSE: MPC) reported net income attributable to MPC of $1.5bn, or $3.84 per diluted share, for the fourth quarter of 2023. This compares to net income attributable to MPC of $3.3bn, or $7.09 per diluted share, for the fourth quarter of 2022. Adjusted net income […]
QatarEnergy, Excelerate Energy Ink 15-Year Supply Deal for Bangladesh
(QatarEnergy, 29.Jan.2024) — QatarEnergy and Excelerate Energy signed a long-term LNG sale and purchase agreement (SPA) for the supply of LNG from Qatar to Bangladesh. Pursuant to the SPA, Excelerate will purchase up to one million tons per annum (MTPA) of LNG from QatarEnergy to be delivered to floating storage […]
New Fortress Receives Customs Ruling for Its FLNG Facility
(New Fortress, 29.Jan.2024) — New Fortress Energy Inc. (NASDAQ: NFE) (announced that U.S. Customs and Border Protection has issued a ruling confirming that the transportation of LNG produced at the company’s FLNG facility located offshore Altamira, Mexico by non-U.S. qualified vessels would not violate the Jones Act. As a result of this ruling, NFE is now […]
![OFAC on Wind Down of Transaction of CVG [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/06/BCS-Blog-What-is-the-OFAC.jpg)
OFAC on Wind Down of Transaction of CVG [PDF Download]
(Energy Analytics Institute, 29.Jan.2024) — The US Department of the Treasury‘s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 43A on 29 Jan. 2024, which relates to “Authorizing the Wind Down of Transactions Involving CVG Compania General de Mineria de Venezuela CA.” ____________________ By Ian Silverman. © Energy […]
![Petroleum sanctions in Venezuela [PDF download]](https://energy-analytics-institute.org/wp-content/uploads/2020/04/pdvsa-960x640-venezuela-latamnrg.jpg)
Petroleum sanctions in Venezuela [PDF download]
CARACAS, VENEZUELA (Energy Analytics Institute, 28.Jan.2024) — If the US experiences the return of Donald Trump as president, or if in Venezuela Maria Corina Machado’s handpicked successor wins, or both, no one is sure what will happen. So international oil companies (IOCs) will likely sit tight and not invest but […]
Biden-Harris List Top Climate Accomplishments
(Energy Analytics Institute, 28.Jan.2024) — US President Joe Biden said 28 Jan 2024 on X, formerly Twitter, that “climate action offers an opportunity for the nation to come together and do some really big things.” Some of the top climate accomplishments to date of the Biden-Kamla Harris term follow, according […]
Venezuela Court Disqualifies Leading Opposition Candidate
(Al Jazeera, 27.Jan.2024) — Venezuela’s Supreme Justice Tribunal has upheld a ban which prevents presidential candidate Maria Corina Machado from holding office, upending the opposition’s plans for elections planned for later this year. Machado, a former lawmaker, won the opposition’s independently run presidential primary last October with more than 90 […]
Leaders on Biden-Harris Pause on Pending Decisions of LNG Exports
(The White House, 27.Jan.2024) — This week, the Biden-Harris Administration announced a temporary pause on pending decisions for exports of Liquefied Natural Gas (LNG). During this period, the Department of Energy will evaluate the impacts of LNG exports on energy costs, America’s energy security, and climate change – the existential threat of […]
YPF SA names Horacio Daniel Marin as president
HOUSTON, TEXAS (Aaron Simonsky, Energy Analytics Institute, 26.Jan.2024, Words: 34) — Argentina’s state-owned energy giant YPF SA announced the appointment of Horacio Daniel Marin as president of the company. ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.
Petrobras Proved Reserves Reach 10.9 Billion Boe in 2023
(Petrobras, 26.Jan.2024) — Petrobras discloses its proved reserves of oil, condensate, and natural gas, according to SEC (US Securities and Exchange Commission) regulation, estimated at 10.9 billion barrels of oil equivalent (boe), as of 31 Dec. 2023. Oil and condensate, and natural gas correspond to 84% and 16% of this […]
Petrobras Reaches 2023 Production Target
(Petrobras, 26.Jan.2024) — Petrobras reached total oil and natural gas production of 2.78 MMboed in 2023, 3.7% higher than the production recorded in 2022. Commercial production of oil and natural gas was 2.44 MMboed and oil production 2.24 MMbpd. These results exceeded our Strategic Plan 23-27 guidances and were in […]
Democratic Leaders Response to Biden’s US LNG Export Decision
(The Natural Allies Leadership Council, 26.Jan.2024) — The Natural Allies Leadership Council, including former Senator Mary Landrieu (D-LA), former Congressman Tim Ryan (D-OH), former Congressman Kendrick Meek (D-FL) and former Philadelphia Mayor Michael Nutter, issued the following statement regarding the Biden Administration’s decision to delay the approval of new U.S. […]
DOE Halting LNG Export Projects
(DOE, 26.Jan.2024) — The United States Department of Energy (DOE) today provided notice that it will initiate a process to update the assessments used to inform whether additional liquefied natural gas (LNG) export authorization requests to non-Free Trade Agreement countries are in the public interest. The United States is the […]
Petrobras on Board Member Appointment
(Petrobras, 26.Jan.2024) — Petrobras, further to the announcement made on 01/22/2024, informs that its Board of Directors has appointed Mr. Renato Campos Galuppo as a board member. The analysis and election process was submitted to the applicable governance procedures, and no impediment was found to the assumption of a management […]
Norfolk Reports 4Q:23 and FY: 23 Results
(Norfolk, 26.Jan.2024) — Norfolk Southern Corporation (NYSE: NSC) announced its fourth quarter and full-year 2023 financial results. For the quarter, income from railway operations was $808mn and diluted earnings per share were $2.32. These fourth quarter results include a $150mn charge associated with the incident in Eastern Ohio inclusive of […]
RPC Reports 4Q:23, FY:23 Financial Results
(RPC, 25.Jan.2024) — RPC, Inc. (NYSE: RES) announced its unaudited results for the fourth quarter and full year ended 31 Dec. 2023. * Non-GAAP and adjusted measures, including adjusted operating income, adjusted net income, adjusted earnings per share (diluted), EBITDA and adjusted EBITDA, adjusted EBITDA margin, and free cash flow […]
Kootenay Updates Estimates at La Cigarra Project, Chihuahua Mexico
(Kootenay, 25.Jan.2024) — Kootenay Silver Inc. (TSXV: KTN) announced an updated Mineral Resource Estimate (“MRE”) on its 100% owned La Cigarra Project, located in the Parral Silver District of Chihuahua State, Mexico. The current Resource Estimate, calculated by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services in accordance with NI 43-101 standards […]
Talos Announces Pricing of Two Upsized Offerings
(Talos, 25.Jan.2024) — Talos Energy Inc. (NYSE: TALO) announced that its wholly owned subsidiary Talos Production Inc. priced an upsized offering of $625mn in aggregate principal amount of new 9.000% Second-Priority Senior Secured Notes due 2029 and $625mn in aggregate principal amount of new 9.375% Second-Priority Senior Secured Notes due […]
Aker BP awarded 27 licenses in APA 2023
(Aker BP, 25.Jan.2024) — The Norwegian authorities are offering Aker BP ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round. For 17 of the licenses Aker BP is also granted operatorship. The award consolidates our position as the most active independent exploration […]
Golden Agri-Resource, Verborg Forge Strategic Partnership
(Golden Agri-Resources, 25.Jan.2024) — Golden Agri-Resources (GAR), a global agribusiness and palm oil producer, is pleased to announce a strategic partnership with Verborg Group, a new entrant in the vegetable oil market. The collaboration entails a multi-year contract, where GAR will be the exclusive supplier of over a million tons […]
Biden-Harris Earmark $254mn to Decarbonization
(DOE, 25.Jan.2024) — In support of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) announced $171mn for 49 projects across 21 states to reduce industrial greenhouse gas (GHG) emissions and accelerate the development of innovative decarbonization technologies. DOE also announced that applications are open for an $83mn […]
Earnings Look Forward, Highlighting Deltas: Evercore ISI
(Evercore ISI, 24.Jan.2024) — It became clear a number of weeks ago that this was not the quarter for all the gory detail on current quarter prints or outlooks particularly for most E&Ps. There is little reason to believe earnings season will stop being the key volatility event of the […]
Origis Energy Secures $317mn in Project Tax Equity with J.P. Morgan
(Origis Energy, 24.Jan.2024) — Origis Energy, one of America’s leading renewable energy and decarbonization solution platforms, today announced it has secured $317mn in project tax equity funding from J.P. Morgan for two utility-scale solar and solar plus battery storage projects located in New Mexico and Mississippi respectively. Escalante Solar is […]
SLB Joins LOT Network to Safeguard Innovation from Patent Litigation
(SLB, 24.Jan.2024) — SLB has joined other technology leaders such as Tesla, Microsoft, and Cisco to become part of the world’s largest patent licensing platform, the License on Transfer (LOT) Network. LOT is an international, non-profit community of more than 3,300 leading global companies across all sectors that are committed […]
The US and Angola: Partnering for Prosperity
(US State Department, 24.Jan.2024) — Secretary Antony J. Blinken will visit Luanda, Angola, 24-25 Jan. 2024, where he will meet with President João Lourenço and Foreign Minister Tete Antonio to discuss the U.S.-Angola bilateral relationship and commitments made during the U.S.-Africa Leaders Summit on key areas such as climate, food security, global health cooperation, economic engagement, […]
Petrobras Interested in Area under Production Sharing Regime
(Petrobras, 24.Jan.2024) — Petrobras expressed to the National Energy Policy Council (CNPE) its interest in the right of first refusal in a block to be tendered in the Permanent Offer System, under the Production Sharing Regime, under the terms of Law 12,351/2010 and Federal Decree 9,041/2017. Petrobras approved the expression […]
Bristow Enters Into New Equipment Financing for up to £55mn
(Bristow Group, 24.Jan.2024) — Bristow Group Inc. (NYSE: VTOL) and its subsidiaries entered into a new twelve-year secured equipment financing for an aggregate amount up to £55mn with a syndicate of banks led by National Westminster Bank Plc (NatWest). The proceeds from the financing will be used to support Bristow’s […]
TD Cowen Downgrades Chevron Stock
(Energy Analytics Institute, 24.Jan.2024) — TD Cowen downgraded Chevron Corporation’s stock to Market Perform based on its view that Permian and TCO could continue to weigh on the stock due to execution concerns. TD Cowen listed the following key points related to the downgrade: — Analysts note that CVX has […]
Aquaterra Inks Three-year Analysis Deal with UK Operator
(Aquaterra Energy, 23.Jan.2024) — Aquaterra Energy, involved in global offshore energy engineering solutions, has secured a three-year contract with a leading UK independent exploration and production company to provide analysis services across the company’s global offshore operations – delivering vital insights to optimise their operational performance. The contract will see […]
Recording-Setting Transactions in 4Q:23 Worth for Upstream M&A
(Enverus, 23.Jan.2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity. Q4 recorded a massive $144bn in upstream M&A, the largest quarter EIR has tracked. That pushed full-year 2023 value to more than $190bn, also […]
Uganda on $4bn Financing for Domestic Refinery
(Uganda Government, 23.Jan.2024) — Final negotiations for the financing and construction of Uganda’s $4bn domestic refinery began this month after Alpha MBM Investments from the United Arab Emirates was chosen by the government of Uganda as preferred bidder. The breakthrough was announced by Ruth Nankabirwa, Uganda’s Minister of Energy and […]
BP sees Trinidad Deepwater Gas Getting Greenlight as soon as 2025
(Reuters, 23.Jan.2024) — BP expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said. BP, which holds a 30% stake in […]
Venezuela: Arrests and Detentions of Opposition, Civil Society
(US State Department, 23.Jan.2024) — The United States is deeply concerned by the issuance of arrest orders and detentions against at least 33 Venezuelans, including members of the democratic opposition, civil society, former members of the military, and journalists. Arrests without due process run contrary to the spirit of the […]
Coretrax Starts 2024 with Clutch Contracts, Ambitious Growth Plans
(Coretrax, 22.Jan.2024) — Coretrax, involved in oil and gas well integrity and production optimisation, is set for further growth with five multi-year contract wins secured for 2024 and plans to grow its footprint in Asia Pacific by a further 30% this year. The company also expects to increase its 320 -strong […]
W&T Offshore Closes Acquisition of Six GOM Fields
(W&T Offshore, 22.Jan.2024) — W&T Offshore, Inc. (NYSE: WTI) has completed the accretive acquisition of six fields in shallow waters of the Gulf of Mexico. W&T was the successful bidder for certain synergistic assets in the Gulf of Mexico offered by MLCJR LLC, Cox Oil Offshore, L.L.C., Cox Operating, L.L.C., […]
Sunoco to Buy NuStar in Deal Valued at $7.3bn
(Reuters, 22.Jan.2024) — Sunoco LP (NYSE: SUN) and NuStar Energy L.P. (NYSE: NS) announced that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3bn, including assumed debt. Transaction Details Under the terms of the agreement, NuStar common unitholders will receive 0.400 Sunoco common units for each NuStar common […]
Exxon Activists Banished Best with Vote, Not Court
(Reuters, 22.Jan.2024) — Exxon Mobil (XOM.N), opens new tab is trying to banish a climate activist proposal in a Texas court. The $385 billion oil giant would be better off leaving its own shareholders to do so. After all, similar measures have resoundingly failed before. Choosing to instead fight against a vote is […]
Petrobras Informs Resignation, Appointment of BODs Member
(Petrobras, 22.Jan.2024) — Petrobras received a letter of resignation from Mr. Efrain Pereira da Cruz from the position of Board Member and member of the Investment Committee. Due to the vacancy, the Federal Government, through a letter from the Ministry of Mines and Energy, appointed Mr. Renato Campos Galuppo to […]
PM Rowley Attends 2024 Opening of Trinidad Energy Conference
(Office of the PM of Trinidad and Tobago, 22.Jan.2024) — Prime Minister Dr the Hon. Keith Rowley officially opened the 2024 Energy Conference and Trade Show hosted by the Energy Chamber of Trinidad and Tobago at the Hyatt Regency Trinidad in Port of Spain on Monday, 22 Jan. 2024. Under […]
Trinidad in Talks with Europe to Supply Venezuelan Gas
(Reuters, 22.Jan.2024) — Trinidad and Tobago has begun talks with some European countries on the supply of liquefied natural gas (LNG) produced from Venezuelan gas, Prime Minister Keith Rowley said on Monday. Venezuela’s government in December granted a 30-year license to Shell (SHEL.L), opens new tab and Trinidad’s National Gas Company (NGC) for joint […]
DeepOcean Completes Trenching Project in US GOM
(DeepOcean, 22.Jan.2024) — The US operation of ocean services provider DeepOcean has successfully completed the burial of a fuel support pipeline in the US Gulf of Mexico on behalf of Genesis Energy after introducing its jet trenching system to the US market. DeepOcean’s cutting-edge trenching system, UT-1, was utilised for […]
S&P Maintains Ecopetrol’s Credit Rating at BB+
(Ecopetrol, 19.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that S&P Global Ratings modified the outlook of Ecopetrol’s credit rating from stable to negative, as a result of the review in the outlook of Colombia’s credit rating, also from stable to negative. Likewise, S&P confirmed that Ecopetrol’s global rating is maintained […]
US Court Accepts $20.8bn in Claims Against Venezuela in Citgo Auction
(Reuters, 19.Jan.2024) — A U.S. court on Friday approved claims by 17 Venezuela-linked creditors, including ConocoPhillips, Rusoro Mining and Koch Industries, to get proceeds from a coming auction of shares in the parent of Venezuela-owned oil refiner Citgo Petroleum to satisfy claims for expropriations and debt defaults. The list, which […]
Port of Corpus Christi Moved Record Tonnage in 2023
(Port of Corpus Christi, 18.Jan.2024) — Port of Corpus Christi customers set a new high mark in annual tonnage during 2023, moving more than 200 million tons of goods through the Corpus Christi Ship Channel for the first time in its history. The 203 million tons moved in 2023 was […]