(Petroleum Economist, 18.Jul.2019) — Latin America’s economically troubled oil giant faces the difficult task of significantly raising Asian crude grades. Venezuela’s upgraders have been forced to stop upgrading extra-heavy crude and instead focus on blending light and heavy grades, as US sanctions limit exports of the South American country’s most […]
Category: Asia
Asia energy
Qatar Petroleum And Chevron Ink Deal For Mega US Petrochemical Plant
(Qatar Petroleum, 10.Jul.2019) — Qatar Petroleum has signed an agreement with Chevron Phillips Chemical Company LLC to develop a new world-scale petrochemical project in the Gulf Coast region of the United States of America. The signing took place at the White House, in the presence of His Highness Sheikh Tamim […]
Chevron Seeks Relief From Trump’s Venezuela Oil Sanctions
(Bloomberg, Fabiola Zerpa, Peter Millard and Kevin Crowley, 2.Jul.2019) — Chevron Corp. is lobbying the U.S. for sanctions relief so it can continue doing business in oil-rich Venezuela where President Donald Trump has been pushing for regime change. Chevron executives have been telling local staff that the company expects waivers […]
JinkoSolar Commissions Solar Project In Abu Dhabi
(JinkoSolar, 1.Jul.2019) — JinkoSolar Holding Co., Ltd. announced that the world’s largest[1] solar plant of 1,177MWp, which was jointly developed by the Company, Japan’s Marubeni Corp. and Emirates Water and Electricity Company (EWEC), has recently started commercial operations as scheduled at Sweihan in Abu Dhabi. The AED3.2 billion project, which […]
Venezuela Reshifts Oil Output
(Reuters, Marianna Parraga and Luc Cohen, 28.Jun.2019) — Venezuelan state oil firm PDVSA is revamping one of its major processing operations geared to supplying U.S. buyers to produce instead a crude grade favored by Asian refiners, according to internal documents seen by Reuters. Sweeping U.S. sanctions on the government of […]
JinkoSolar Announces 1Q:19 Financial Results
(JinkoSolar, 28.Jun.2019) — JinkoSolar Holding Co., Ltd. announced its unaudited financial results for the first quarter ended March 31, 2019. First Quarter 2019 Highlights — Total solar module shipments were 3,037 megawatts (“MW”), a decrease of 16.1% from 3,618 (including intragroup solar module shipments) MW in the fourth quarter of […]
Brazil Bets Storing Oil Will Boost China Sales
(Bloomberg, 27.Jun.2019) — Brazil is making it easier for China’s teapots to buy Lula crude as it seeks to win more market share in the world’s biggest oil importer. State-controlled Petroleo Brasileiro SA has rented offshore tanks in Qingdao in the eastern province of Shandong and delivered the first oil […]
ReneSola And X-Elio To Develop Solar Projects
(ReneSola, 24.Jun.2019) — ReneSola Ltd entered into a development service agreement with X-Elio North America, a subsidiary of X-Elio, a Madrid, Spain-based company specialized in the development, construction, operation and maintenance of solar plants. Under the agreement, the Company’s North American development team will originate and develop large utility scale […]
LatAmNRG Ecuador Briefs: Quito Gasoline, Russia’s Tyazhmash To Finish Project
(Energy Analytics Institute, Piero Stewart, 22.Jun.2019) — LatAmNRG briefs related to OPEC member country Ecuador and gasoline prices in Quito, recycled waste imports, Russian company Tyazhmash’s plans to complete work on the Toachi PilatĂłn project, and inauguration of the El Inga – Tisaleo 500Kv line by Ecuador’s President Lenin Moreno. […]
BPs’s Statistical Review Of World Energy, Edition 2019
(BP, 21.Jun.2019) — BP released its Statistical Review of World Energy, edition 2019, which provides a timely and objective insight into those developments and how that change can begin to be achieved. A link to the document can be found here. ***
JinkoSolar Supplies 351 MW To Asia Pacific PV Projects
(JinkoSolar, 20.Jun.2019) — JinkoSolar Holding Co., Ltd. announced it has supplied Power Construction Corporation of China with 351MW of solar modules, which were installed at the Hồng Phong solar PV plant in Vietnam, one of the largest PV projects in the Asia Pacific region to date (the “Project”). Located in […]
JinkoSolar Supplies 258MW Solar Modules In Vietnam
(JinkoSolar, 17.Jun.2019) — JinkoSolar Holding Co., Ltd. announced it has supplied Trung Nam Group with 258MW of monocrystalline PERC double glass modules which were installed at one of the largest solar-wind hybrid projects in Vietnam. Located in Ninh Thuan Province, Phase 1 of the project was recently completed which combined […]
Japan’s Inpex And Indonesia Sign HoA On Masela Project
(WoodMac, 17.Jun.2019) — Woodmac Research Director Andrew Harwood commented on the announcement of INPEX signing a HoA with the Indonesian government on the Masela project. — The HoA formalises the recent outline agreement between the Government of Indonesia and INPEX on the Masela development project. After several setbacks in recent […]
LatAmNRG Bolivia Briefs: Putin-Morales Meeting, Lithium, Potassium Chloride
(Energy Analytics Institute, Aaron Simonsky, 7.Jun.2019) — Heard on the street related to the Bolivian upstream, midstream, downstream and renewable energy sectors including: Russian President Vladimir Putin’s plans to meet his Bolivian counterpart Evo Morales in July; Bolivia has exported 22,000 tons of potassium chloride to Brazil; Bolivia eyes deciding […]
CNOOC In Agreement For Acquisition Of 10% Equity Interest In Arctic LNG 2 LLC
(CNOOC, 7.Jun.2019) — CNOOC Limited and CEPR Limited, a wholly-owned subsidiary of the company, entered into a Share Purchase Agreement with Joint Stock Company Novatek (JSC Novatek) and Ekropromstroy Limited Liability Company, a wholly-owned subsidiary of JSC Novatek, pursuant to which, CEPR shall acquire 10% equity interest in Arctic LNG […]
European Elections: Finally Becoming More Courageous About Climate Protection
(Wintershall, 6.Jun.2019) — The results of the European elections show that German voters are primarily interested in one issue: climate protection. Hugo Dijkgraaf, the member of the Wintershall Dea Executive Board and Chief Technology Officer, said at the BDEW Congress in Berlin: “If we’re seriously interested in achieving our climate […]
EP PetroEcuador Hosts Executives From Japanese Companies
(Energy Analytics Institute, Piero Stewart, 6.Jun.2019) — Executives from the Japanese companies Mitsubishi Motors, Nexi Nippon Export and Investment Insurance and Bank of Tokyo conducted meetings with EP PetroEcuador General Manager Pablo Flores to study and explore business opportunities for the benefit of Ecuador and Japan, EP PetroEcuador said in […]
Exploring The Innovative Evolution Of Hydraulic Fracturing
(JPT, Matt Zborowski, 3.Jun.2019) — Fueled by a culture of innovation, hydraulic fracturing has transformed the energy landscape from inside North America out. But achieving that paradigm shift took years of improving subsurface understanding, technology development, and fine tuning the completions practice through trial and error. Authors from Liberty Oilfield […]
Hydraulic Fracturing
(JPT, Zillur Rahim, Saudi Aramco, 1.Jun.2019) — As gas development focuses more on tight and ultratight formations, the challenges to produce economically become diverse and more intense. One main challenge faced while fracturing a well is a high fracture gradient. This can be caused by near-wellbore tortuosity, drill-in-fluid-induced damage, high […]
LatAmNRG Bolivia Briefs: Petrobras Volumes, Investments In Lithium
(Energy Analytics Institute, Ian Silverman, 30.May.2019) — Heard on the street and LatAmNRG briefs related to Brazil’s Petrobras requesting lower natural gas volumes from Bolivia’s YPFB, investments to industrialize Bolivian lithium expected to reach $600 million, and Bolivia’s state oil entity YPFB planning to open a new office in Peru […]
CNOOC Limited Announces Appomattox Field Commences Production
(CNOOC, 23.May.2019) — CNOOC Limited announced the Appomattox Field in the US Gulf of Mexico has safely commenced production ahead of schedule. Appomattox Field is located approximately 128 kilometers southeast of Louisiana in the deep-water Gulf of Mexico, with water depth of approximately 2,255 meters. Appomattox is the first commercial discovery […]
Saudi Aramco And Sempra Energy Ink Largest LNG Deal For 6 Years
(WoodMac, 22.May.2019) — Sempra Energy and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA), which anticipates the negotiation and finalisation of a definitive 20-year sale-and-purchase agreement covering 5 million metric tons each year from the Port Arthur LNG […]
Argentina’s Financial Crisis Creates An Opportunity For China
(Bloomberg, Jonathan Gilbert 21.May.2019) — A pair of dams going up in Patagonia is a testament to Beijing’s growing influence. Set on a remote steppe in Patagonia, where the winds howl and guanacos bound through the brush, the twin dams on the Santa Cruz River are in the early stages […]
LatAmNRG Ecuador Briefs: PetroAmazonas Deals, Drilling, Output, And Merger
(Energy Analytics Institute, Piero Stewart, 20.May.2019) — Heard on the street and LatAmNRG briefs related to the Petroamazonas EP and contracts for $78.1 million with China’s CNPC And Sinopec, optimized drilling at Sacha and Coca Payamino, rising output during the first four months of 2019, secondary recovery efforts and the […]
OPEC Founder Venezuela Pumps Less Oil Than Three Of Its Neighbors
(Bloomberg, Lucia Kassai, 20.May.2019) —Venezuela, which sits atop more oil than Saudi Arabia, has fallen behind three other Latin American countries as years of mismanagement and lack of investments take its toll. The OPEC founding member produced 740,000 barrels a day in March, while Colombia’s oil reserves are less than […]
JinkoSolar Prices Follow-on Offering Of 4,062,500 ADSs And Private Placement
(JinkoSolar, 15.May.2019) — JinkoSolar Holding Co., Ltd. announced priced the follow-on offering of 4,062,500 American depositary shares (the “ADSs”), each representing four ordinary shares of the Company, par value US$0.00002 per share (the “ADS Offering”), at US$16.00 per ADS. The Company also announced it priced the concurrent private placement (the […]
LatAmNRG Briefs: OPEC MOMR, EP PetroEcuador Import Awards
(Energy Analytics Institute, Piero Stewart, 14.May.2019) — Heard on the street and LatAmNRG briefs related to OPEC’s Monthly Oil Market Report, EP PetroEcuador awards Trafigura deal to import 2,750,000 barrels of premium diesel, and EP PetroEcuador’s plans to open envelopes related to an award to import 2,250,000 barrels of diesel […]
Arctech Launches 120-Module 2P Solar Tracker In Industry First Move
(Arctech, 13.May.2019) — Arctech Solar, a leading solar tracking and racking system provider, has launched its latest research achievement SkySmart-2, the industry’s first independent single-axis tracking system which introduces multiple fans driving up to 120 solar modules. It can solve the instability problem of regular 2P (two modules in portrait) […]
What Does IMO 2020 Mean For Downstream, Upstream, LNG and Bulks Sector
(Woodmac, 7.May.2019) — Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie’s Asia Pacific experts weigh in on what this means for the different sectors. Expect wider light-heavy and sweet-sour crude price differentials Research director Sushant Gupta […]
Noble Corporation plc Reports 1Q:19 Results
(Noble, 1.May.2019) — Noble Corporation plc today reported a net loss attributable to the Company for the three months ended March 31, 2019 (first quarter) of $71 million, or $0.29 per diluted share, of which $4 million, or $0.02 per diluted share related to discontinued operations. The Company’s net loss […]
Calling Students Ages 13-18 Years Old To Participate In Science And Math Contest
(Breakthrough, 1.May.2019) — The Breakthrough Prize Foundation announced today the launch of its fifth annual Breakthrough Junior Challenge, a global student science and mathematics competition designed to inspire creative thinking about fundamental concepts in the life sciences, physics and mathematics. All students must register at https://breakthroughjuniorchallenge.org and submit completed entries between […]
Petronas Enters SPA with Petrobras for Stake in Tartaruga Verde Field
(Petronas, 26.Apr.2019) — Petronas through its subsidiary, Petronas PetrĂłleo Brasil Ltda. (PPBL) entered into a Sale and Purchase Agreement (SPA) with PetrĂłleo Brasileiro S.A. (Petrobras), Brazil’s petroleum multinational corporation, for a 50% equity in the Tartaruga Verde field (BM-C-36 Concession) and its facilities, Module III of the Espadarte field, both […]
Petrobras Inks Three Deals To Divest Of Assets Worth US$10.3 Billion
(Petrobras, 25.Apr.2019) — Petrobras informs that today it executed three sale and purchase agreements to sell assets in the total amount of US$ 10.3 billion (about R$ 40 billion). In 2019, considering the signed transactions and the closed one, the total amount of asset sales is US$ 11.3 billion. “Today […]
CNOOC Limited Announces Key 1Q:19 Operational Statistics
(CNOOC Ltd. 25Apr.2019) — CNOOC Limited announced its key operational statistics for the first quarter of 2019. The Company achieved a total net production of 120.1 million barrels of oil equivalent (“BOE”) for the first quarter of 2019, remaining stable compared to the same period last year. Production from offshore […]
Reuters Corrects Story Saying Venezuela Is Avoiding U.S. Sanctions by Funneling Oil Sales Through Russia
(The Moscow Times, 24.Apr.2019) — Reuters has corrected a story it published on April 18 saying Venezuela is funneling cash flow from oil sales through Russian state energy giant Rosneft to evade U.S. sanctions after Rosneft threatened to ban the international news agency from operating in Russia. The story, datelined […]
Venezuela Imports Crude For The First Time In Five Years
(Bloomberg, Lucia Kassai, 24.Apr.2019) — Oil production in Venezuela has dipped so low that the owner of the world’s largest reserves is importing crude for the first time in five years. The nation’s output fell below 1 million barrels a day to a 16-year low in March, amid rolling blackouts […]
On South America’s Largest Solar Farm, Chinese Power Radiates
(Reuters, Cassandra Garrison, 23.Apr.2019) — In an arid, lunar-like landscape in the sunny highlands of northern Argentina, South America’s largest solar farm is rising, powered by funding and technology from China. Local officials said they had sought help at home, the United States and Europe without success. Potential lenders and […]
McDermott Awarded Petrochemicals Contract In Kuwait
(McDermott, 22.Apr.2019) — McDermott International, Inc. and Kuwait Integrated Petroleum Industries Company (KIPIC), a subsidiary of Kuwait Petroleum Corporation (KPC), today announced that KIPIC has awarded McDermott a technology contract for the basic engineering, technology license and catalyst for an integrated Low Pressure Recovery (LPR) and Olefins Conversion Technology (OCT) […]
Gazprom Eyeing Gas Project In Argentina
(TASS, 22.Apr.2019) — Gazprom considers the possibility of acquiring a stake in one of the key producing assets of Argentina’s YPF, the company said on Monday. “Gazprom Group is considering the possibility of implementing projects in Argentina, including those related to the development of unconventional gas reserves. We are currently […]
ExxonMobil Inks 20-year LNG Deal With Zhejiang Energy
(Exxon, 22.Apr.2019) — ExxonMobil said today that it signed a sales and purchase agreement with Zhejiang Provincial Energy Group for liquefied natural gas (LNG) supply. Under the agreement, Zhejiang Energy is expected to receive 1 million metric tons per annum of LNG over 20 years. — Zhejiang Energy to receive […]
Venezuela Seeks To Collect Some Oil Payments Via Rosneft
(Reuters, 19.Apr.2019) — The cash-strapped government is becoming increasingly reliant on the Kremlin. Venezuelan state oil company PDVSA has asked at least two of its clients to make payments for Venezuelan oil via Russian state energy giant Rosneft, as it comes under pressure from U.S. sanctions, according to a PDVSA […]
Czech Group Solek Start Work On 16.6 MWp Of PV Plants In Chile
(Renewables Now, 19.Apr.2019) — Czech solar developer Solek Group announced on Thursday its has started construction of three solar parks in Chile with a combined capacity of 16.64 MWp direct current (DC). More specifically, the European company is building the 2.99-MWp Villa Seca and the 10.66-MWp Santa Fe farms in […]
Indian Refiners Turn To OPEC, Mexico, U.S. To Make Up Iran Oil Gap
(Reuters, 18.Apr.2019) — All four Indian state-owned refiners that buy Iranian oil are confident of securing additional barrels from other producers, officials from the companies told Reuters. Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian […]
Exclusive: Venezuela Skirts U.S. Sanctions By Funneling Oil Sales Via Russia
(Reuters, Marianna Parraga, 18.Apr.2019) — President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of the […]
Petrobras Confirms Extension Of Accumulation In Moita Bonita Area
(Petrobras, 18.Apr.2019) — Petrobras announces that it has completed the drilling of the well 3-SES-192 (Petrobras nomenclature) / 3-BRSA-1367-SES (ANP nomenclature)l in the area known as Moita Bonita, located in the BM-SEAL-4 concession, 80 km from the city of Aracaju, at a water depth of 2,629 meters. The results of […]
Toyota To Build Corolla In Brazil That Will Run On Electricity, Ethanol And Gas
(Reuters, 17.Apr.2019) — Japan’s Toyota Motor Corp said on Wednesday it will begin building in Brazil a new version of the Corolla sedan that will run on electricity, ethanol and gas, the first vehicle of its kind to be built in Latin America. Toyota said in a statement that it […]
Wintershall Expands Portfolio In Argentina
(WorldOil, 17.Apr.2019) — Wintershall won the bidding process for two blocks in the promising Malvinas Basin off the coast of Tierra del Fuego as part of the “Costa Afuera” licensing round. In addition to the CMA-1 exploitation concession, with this award, the company will participate in further offshore exploration projects […]
Qatar Petroleum Wins Exploration Rights In 5 Offshore Blocks In Argentina
(Qatar Petroleum, 16.Apr.2019) — Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. The winning bids were announced today by Argentina’s Secretariat of Government of Energy (“SGE”) at the end of a public tender process that started in November […]
WoodMac: Santos Makes Significant Gas Discovery At Corvus-2 Appraisal Well
(WoodMac, 16.Apr.2019) — Following Santos’ announcement on the confirmation of a significant gas resource at Corvus-2 appraisal well, Wood Mackenzie senior analyst Daniel Toleman commented on the results: Based on limited information, our initial estimate is a 2.5 tcf gas and 25 mmbbl condensate resource. This will be the largest […]
Santos Says Corvus-2 Appraisal Well Discovers Significant Resource
(Santos, 16.Apr.2019) — Santos announced the successful appraisal of the Corvus field, with Corvus-2 confirming a significant gas resource in the Carnarvon Basin, offshore Western Australia. The well, located in petroleum permit WA-45-R, in which Santos has a 100 per cent interest, is approximately 90 kilometres northwest of Dampier in […]