(CGG, 18.Jan.2024) — CGG has been selected by the French government as a technical partner to support the LiMongolia project, a joint initiative by the National Geological Survey of Mongolia (NGS) and the French geological survey, BRGM, to evaluate the regional prospectivity of Mongolia for critical minerals, particularly uranium 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.
Ecopetrol Says to Conduct Further Tests at Arauca 8 Well
(Energy Analytics Institute, 18.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) said that in order to determine the materiality of the Arauca 8 well discovery, it would be necessary to complete the analysis and evaluation tests of said well. The Arauca 8 well is located in the Municipality of Saravena […]
Port of Corpus Christi Surpassed 200Mt for First Time 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 […]
Mark Loquan Departs NGC after Eight Year Tenure
(NGC, 18.Jan.2024) — The National Gas Company of Trinidad and Tobago Limited (NGC) wishes to announce that Mark Loquan will not renew his contract with NGC; and his appointment as Director on the NGC Board and its affiliates will also cease. This becomes effective on 31 Aug. 2024, and follows […]
Ecopetrol Reveals Senior Management Changes
(Ecopetrol, 17.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, the following changes will be made in its senior management: Alejandro Arango, who has been serving as Corporate Vice President of Human Talent, presented his voluntary resignation from the position, which was accepted as of 18 Jan. 2024. Victoria Irene […]
Trinidad Energy Chamber Comments on Paria Incident
(The Energy Chamber, 17.Jan.2024) — The Energy Chamber of Trinidad & Tobago welcomes the fact that the report from the Commission of Enquiry into the tragic Paria incident has been made public. Sharing the lessons gathered from this incident is critical for the prevention of similar events in the future. […]
Cochilco Eyes Higher Copper Prices in 2024-25
(Energy Analytics Institute, 17.Jan.2024) — Cochilco expects its average copper price to reach $3.85 per pound (lb) in 2024. This compares to $3.80/lb in 2023, the company announced 17 Jan. 2024 on Instagram. The company expects the price to average $3.90/lb in 2025. Cochilco said the higher prices were due […]
Staatsolie’s Jagesar Emphasizes Need for National Model
(Energy Analytics Institute, 17.Jan.2024) — Staatsolie managing director Annand Jagesar emphasized the importance of developing a national model for regulation, exploration and development. Jagesar’s comments were made on 17 Jan. 2024, according to a post by the AAPG SPE, and at the start of a two-day multidisciplinary program titled: “Technical […]
NGC Green Joins NGC Group of Companies
(NGC, 17.Jan.2024) — Over the past few years, the local energy sector has been embracing the transition towards a cleaner energy future. NGC has been leading that movement, by pursuing a diverse Green Agenda, and integrating sustainability into all aspects of our business. NGC has delivered a milestone achievement to […]
Talos Reveals Commencement of Underwritten Public Offering
(Talos, 17.Jan.2024) — Talos Energy Inc. (NYSE: TALO) commenced an underwritten public offering of $300mn of shares of its common stock, par value $0.01 per share. The company expects to grant the underwriters a 30-day option to purchase $45mn of additional shares of its common stock. The company intends to use the net proceeds from this […]
Gas Prices Down 45% as 2024 Set to Remain Bearish
(Wood Mackenzie, 17.Jan.2024) — The market sentiment for gas and liquefied natural gas (LNG) will remain bearish into 2024 with European prices having fallen by 45% to US$10 per million British thermal units (mmbtu) in the past three months according to a report by Wood Mackenzie. The report ‘Global Gas and […]
Dtek Buys Stryde Seismic System for Ukraine Exploration
(Stryde, 17.Jan.2024) — Stryde agreed a deal to provide Ukraine’s leading and biggest private energy operator, Dtek Oil&Gas with 30,000 Stryde™ and its Nimble System™ to acquire 3D and 2D seismic surveys across the country. The new contract will see Stryde deliver its portable and agile nodal system to support […]
Ecopetrol Prices Cash Tender Offer for Outstanding 4.125% Notes due 2025
(Ecopetrol, 16.Jan.2024) — Ecopetrol S.A. (NYSE: EC) announced the tender offer consideration (the “Total Consideration”) payable in connection with the previously announced cash tender offer (the “Offer”) by Ecopetrol, which commenced on 9 Jan. 2024, to purchase any and all of its outstanding 4.125% Notes due 2025 (the “Securities”), upon […]
Exxon to Buy Another 1.2 mtpa of LNG from Mexico Pacific
(Reuters, 16.Jan.2024) — Mexico Pacific said on Tuesday it had reached a deal to supply Exxon Mobil with an additional 1.2 million tonnes per annum of liquefied natural gas, clearing the way for a final investment decision to expand its Saguaro Energia LNG plant. ExxonMobil LNG Asia Pacific tied up […]
![OFAC Updates on PDVSA Bond, Transactions [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/06/BCS-Blog-What-is-the-OFAC.jpg)
OFAC Updates on PDVSA Bond, Transactions [PDF Download]
(Energy Analytics Institute, 16.Jan.2024) — The US Office of Foreign Assets Control (OFAC) authorized certain transactions related to state-owned Petróleos de Venezuela, S.A.‘s 2020 8.5% bond on or after 16 Apr. 2024, the agency revealed 16 Jan. 2024 in an official statement. ____________________ By Piero Stewart. © Energy Analytics Institute […]
Aker BP and DeepOcean Finish Autonomous Inspection Trials
(DeepOcean, 16.Jan.2024) — DeepOcean and Aker BP successfully completed subsea trials with an Autonomous Inspection Drone (AID) at the Aker BP operated Alvheim field in the central North Sea. “While testing of autonomous technology is exciting on its own, our primary purpose was to find out if subsea inspection can […]
Port of Corpus Christi Commission Names New Officers
(The Port of Corpus Christi, 16.Jan.2024) — The Port of Corpus Christi Commission named new officers and announced two new Commissioners who took their oaths of office, administered by Nueces County Judge Connie Scott, at the Congressman Solomon P. Ortiz International Center during the governing body’s first meeting of the […]
Exergy Supports Decarbonization in Turkey
(Exergy International, 16.Jan.2024) — Exergy International, a global provider of clean energy technology, leader in new generation geothermal ORC power plants, yesterday signed a contract with Emirler Enerji Elektrik Uretim A.S. for the supply of a 8 MWe geothermal binary plant, the Emirler 1 JES Unite 2, located in Saraykoy, in Denizli region, Turkey. Exergy […]
Coretrax Buys Well Technology, Secures Fresh Deals
(Coretrax, 16.Jan.2024) — Coretrax, a global leader in oil and gas well integrity and production optimisation, has strengthened its well intervention capabilities after acquiring a complementary suite of technology from Wireline Drilling Technologies. The significant investment has expanded Coretrax’s offering. Since completing the acquisition, the firm has signed a global route to […]
Strohm Completes First TCP Jumper in West Africa
(Strohm, 16.Jan.2024) — Strohm, the world’s first and leading TCP technology company, has supplied TotalEnergies with a thermoplastic composite pipe (TCP) Jumper, which has been commissioned in deep water (1600 m) in West Africa. This installation has followed a rigorous testing programme, during which TotalEnergies qualified the Netherlands-based company’s TCP Jumper for […]
1PointFive and Trafigura Announce DAC Credit Agreement
(1PointFive, 16.Jan.2024) — 1PointFive, a carbon capture, utilization and sequestration (CCUS) company, and Trafigura, a market leader in the global commodities industry, announced that Trafigura has agreed to purchase carbon dioxide removal (CDR) credits to be produced from 1PointFive’s first industrial-scale Direct Air Capture (DAC) facility, STRATOS, which is currently […]
US Corporate Defaults Fueled 80% Jump in Global Tally in 2023
(S&P Global Ratings, 16.Jan.2024) — The number of global corporate defaults rose 80% in 2023, S&P Global Ratings Credit Research & Insights said today in a new report, and more credit deterioration is likely in 2024 amid slowing economic growth and high financing costs. In “Corporate Defaults Jumped 80% In […]
Mexico Pacific Inks Optional LNG Offtake with ExxonMobil
(Mexico Pacific, 16.Jan.2024) — Mexico Pacific signed a third long-term Sales and Purchase Agreement (SPA) with ExxonMobil LNG Asia Pacific (EMLAP) for an additional 1.2 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Train 3 of Mexico Pacific’s Saguaro Energia project located on the west coast of […]
![Guyana’s Finance Minister Presents 2024 Budget [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2024/01/guyana-presupuesto-2024-source-guyana-govt.png)
Guyana’s Finance Minister Presents 2024 Budget [PDF Download]
(Guyana’s Finance Ministry, 15.Jan.2024) — Guyana’s Finance Minister Dr. Ashni K. Singh, M.P presenting the South American country’s budget for 2024, highlighting the nascent oil and gas sector, which continues to drive growth in gross domestic product (GDP). ____________________
Talos Announces Strategic $1.3bn Acquisition of QuarterNorth
(Talos, 15.Jan.2024) — Talos Energy Inc. (NYSE: TALO) announced the execution of definitive agreements to acquire QuarterNorth Energy Inc. for $1.29bn (the “Transaction”). QuarterNorth is a privately-held U.S. Gulf of Mexico exploration and production company with ownership in several prolific offshore fields. QuarterNorth’s assets will provide additional scale from high […]
Aker BP 4Q:23 Trading Update
(Aker BP, 15.Jan.2024) — Aker BP (OSE: AKRBP) (OTCQX: AKRBF; AKRBY) announces its preliminary production and sales figures for the fourth quarter 2023. The company’s equity production for the period was 444.3 thousand barrels of oil equivalents per day (mboepd). Net volume sold in the quarter was 466.9 mboepd. For the […]
Xergy Opens News Offices in Australia and Scotland
(Xergy, 15.Jan.2024) —Technology company, Xergy, has opened new offices in Perth, Australia, and Dundee in Scotland to support increasing demand for its project management software, Proteus. The new offices have created 10 new roles, taking Xergy’s total workforce to 34. Headquartered in Scotland’s energy capital, Aberdeen, with an office in […]
Golden Arrow Announces $5mn Option Agreement
(Golden Arrow, 12.Jan.2024) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) announced that New Golden Explorations Chile SpA (NGE), a wholly-owned subsidiary of the company, has entered into an option agreement (fully executed 9 Jan. 2024) with Sociedad de Servicios Andinos SpA (SSA). Under the option agreement, NGE has granted […]
NASA Picks 12 Companies for Space Station Contract
(NASA, 12.Jan.2024) — NASA selected 12 companies to provide research, engineering, and mission integration services for the International Space Station Program. The $478mn Research, Engineering & Mission Integration Services-2 or REMIS-2 contract will support the work of the International Space Station Program based at NASA’s Johnson Space Center in Houston. The companies will […]
SLB and Nabors to Scale Automation Solutions
(Nabors, 12.Jan.2024) — SLB (NYSE: SLB) and Nabors Industries (NYSE: NBR) announced a collaboration to scale the adoption of automated drilling solutions for oil and gas operators and drilling contractors. The agreement will enable customers to seamlessly integrate the companies’ drilling automation applications and rig operating systems to deliver improved […]
Aspen Aerogels Provides Business Update
(Aspen Aerogels, 11.Jan.2024) — Aspen Aerogels, Inc. (NYSE: ASPN), a technology company in sustainability and electrification solutions, today announced preliminary full year 2023 revenue results, a preliminary 2024 revenue outlook, and the initial shipments through its supplemental aerogel supply for its Energy Industrial business. Preliminary Full Year 2023 Revenues, 2024 Baseline […]
Chesapeake and Southwestern Combine in $7.4bn Deal
(Chesapeake, 11.Jan.2024) — Chesapeake Energy Corporation (NASDAQ: CHK) and Southwestern Energy Company (NYSE: SWN) have entered into an agreement to merge in an all-stock transaction valued at $7.4bn, or $6.69 per share, based on Chesapeake’s closing price on 10 Jan. 2024. Under the terms of the agreement, Southwestern shareholders will receive 0.0867 shares […]
Ecopetrol Shareholders’ to Amend Bylaws [PDF Download]
(Ecopetrol, 11.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that during the extraordinary general shareholders’ meeting held on 10 Jan. 2024, previously called in accordance with the legal and statutory requirements applicable to the company, the shareholders approved the amendment to the bylaws proposed by the majority shareholder, in accordance with […]
Arena Creates Artificial Reef in US GOM
(Arena, 11.Jan.2024) — Arena Energy, LLC, an independent oil and gas exploration company focused on the Gulf of Mexico Shelf, recently established an artificial reef site at South Marsh Island 192, which is located in the U.S. Gulf of Mexico approximately 100 miles off the coast of Louisiana. The South Marsh Island 192 […]
IMF Unlocks $4.7bn for Argentina Amid Economic Crisis
(Al Jazeera, 11.Jan.2024) — Argentina and the International Monetary Fund (IMF) have finalised an agreement to release $4.7bn as part of a debt restructuring plan for the troubled South American nation. Latin America’s third-biggest economy is facing dire economic challenges after decades of debt and financial mismanagement, with inflation surpassing 160 percent […]
YPF Sells $800mn Bond to Fund Debt Buyback
(Bloomberg, 10.Jan.2024) — Argentina’s state-owned oil driller YPF SA tapped international investors with a new dollar bond to help finance a buyback of existing debt, according to people familiar with the matter. The firm sold $800 million in fixed-rate debt due 2031, according to people familiar with the matter. The […]
IMF Grants Argentina Access to $4.7bn
(IMF, 10.Jan.2024) — An International Monetary Fund (IMF) team, led by Luis Cubeddu, Deputy Director of the Western Hemisphere Department and Ashvin Ahuja, Mission Chief for Argentina, issued the following statement in Buenos Aires today following the conclusion of discussions on the seventh review of the Extended Fund Facility (EFF) […]
Petrobras Receives $298mn Installment for Carmópolis Pole
(Petrobras, 10.Jan.2024) — Petrobras, in continuity with the announcement made on 26 Dec. 2023, informs that it received, on today’s date, from Carmo Energy, the last installment in the amount of $298mn, already considering the adjustments and late payment charges due, related to the sale of the Carmópolis Pole, which […]
Petrobras on Non-renewal of Vibra Trademark License
(Petrobras, 10.Jan.2024) — Petrobras notified Vibra Energia S.A. that it has no interest in extending the term of the company’s current trademark license agreement, which began on 28 Jun. 2019 and will end on 28 Jun. 2029. This agreement will remain in force, subject to the contractual terms and conditions. The […]
Kelp Farming Plant to Remove CO2 from the Atmosphere
(Aker BP, 10.Jan.2024) — Aker BP contributes to the establishment of a kelp cultivation plant in the sea off Frøya in Trøndelag. The plant will remove CO2 from the cycle. Already in the summer of 2024, the first kelp will be harvested. SINTEF Ocean will build and operate the kelp […]
Bangchak Group Breaks Ground on Unit in Thailand
(SAFInvestor, 10.Jan.2024) — Thailand’s largest oil refiner Bangchak Group announced that it has begun construction on the 1m barrels per day sustainable aviation fuel (SAF) production unit in Thailand. The plant, first SAF production unit in Thailand, is expected to commence operations in the first quarter of 2025. The plant […]
Key Upstream Things to Watch in 2024: WoodMac
(WoodMac, 10.Jan.2024) — Geopolitical tensions, a record year for elections and economic uncertainty will define the backdrop to the upstream industry in 2024. Wood Mackenzie recently released its What to Look for in 2024 upstream series. Key themes to watch in global and corporate upstream include continued consolidation, increased activity from NOCs, reversing decarbonisation gains, shifts […]
![HNRC Outlines Key 2024 Highlights [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2024/01/Oil-Services-source-houston-natural-resources.jpg)
HNRC Outlines Key 2024 Highlights [PDF Download]
(Houston Natural Resources, 10.Jan.2024) — Houston Natural Resources Corp (OTC: HNRC) with a pending name, symbol and CUSIP change, to Cunningham Natural Resources Corp. (CNRC), outlined an investor presentation for 2024. Cunningham is focused on traditional oil and gas opportunities and energy transition materials including mining opportunities in copper, lithium, […]
EDF Renewables Announces Commercial Operation of Fox Squirrel Phase 1
(Enbridge, 10.Jan.2024) — EDF Renewables North America and Enbridge Inc. announced that Phase 1 of Fox Squirrel Solar, the largest solar complex in Ohio, is fully operational and delivering decarbonized electricity to the PJM grid. Fox Squirrel Solar, a ground-mounted solar facility with total capacity of 749 MWdc/577 MWac, is […]
CGG and C-Questra Ink CCUS Cooperation Deal
(CGG, 9.Jan.2024) — CGG, a global technology and HPC leader, and C-Questra, an independent European operator specializing in the CO2 storage value chain, have signed a commercial cooperation agreement in carbon capture, utilization, and sequestration (CCUS). CGG has more than 15 years of experience supporting a number of high-profile CCUS […]
Power Nickel Raises $2.2mn Outlines 2024 Plans
(Power Nickel, 9.Jan.2024) — Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) has closed a private placement for 4,360,000 flow-through units (each an “FT Unit“) of the company, at a price of $0.50 per FT Unit, for gross proceeds of CAD $2,180,000. The FT Unit closing completed on 29 Dec. 2023, while the […]
Stena Roro Places Order for Another E-Flexer Ropax Vessel
(Stena RoRo, 8.Jan.2024) — Stena RoRo placed an order for yet another RoPax-class E-Flexer vessel from the Chinese shipyard CMI Jinling (Weihai). The vessel will be delivered in the first quarter of 2026 to Corsica Linea and will operate between Marseille and Corsica. This is Stena RoRo’s thirteenth vessel in […]
More Venezuela Creditors to Join Citgo Auction
(Reuters, 8.Jan.2023) — A U.S. judge on Monday granted a large group of Venezuela-linked creditors rights to participate and receive proceeds from a coming auction of shares in the parent of Houston-based refiner Citgo Petroleum. A precedent-setting lawsuit by Canadian miner Crystallex Corp formally tied Venezuela-owned Citgo to the South […]
Wood inks engineering design for 100,000 b/d Trion project offshore Mexico
MEXICO CITY, MEXICO (By Fidencio Casillas, 8.Jan.2023, Words: 240) — Wood secured a contract from HD Hyundai Heavy Industries for detailed engineering of the topsides facilities on Woodside Energy‘s Trion Floating Production Unit (FPU) in Mexican waters of the Gulf of Mexico. Once finished, Trion will have a production capacity […]
Gevo Names Katie Ellet to Board of Directors
(Energy Analytics Institute, 8.Jan.2024) — Gevo, Inc. (NASDAQ: GEVO) announced that Katie Ellet has been appointed to its Board of Directors as of 2 Jan. 2024. Ellet serves as president, Hydrogen Energy and Mobility for North America at Air Liquide, a leader in gases, technologies and services for industry and […]