(Equinor, 21.Aug.2019) — Equinor’s executive vice president for Exploration, Tim Dodson, and YPF’s CEO Daniel Gonzalez have signed an agreement to jointly explore the CAN 100 offshore block, located in the North Argentinian Basin. The preliminary agreement, which was signed at Equinor’s office in Oslo, Norway, sets the core terms […]
Category: Europe
Europe energy
15 Guyanese Companies To Attend Aberdeen Exhibition
(Stabroek News, 20.Aug.2019) — The representatives of 15 Guyanese companies will be participating in an oil and gas conference and exhibition in Aberdeen, Scotland, next month. This was revealed yesterday by President of the Georgetown Chamber of Commerce and Industry (GGCI) Nicholas Deygoo-Boyer during a briefing at the residence of […]
‘The More Operators In Guyana’s Oil Fields The Better’
(Stabroek News, 20.Aug.2019) — Guyana is better off with more operators and countries involved in its oil fields, British High Commissioner to Guyana Gregory Quinn has said in wake of UK-based Tullow Oil’s recent offshore oil discovery. Tullow last week announced the discovery of oil in commercial quantities in its […]
Trinidad Inks Definitive Agreement With Shell
(Ministry of Energy and Energy Industries, 19.Aug.2019) — The Honourable Minister of Energy and Energy Industries announces the finalization of negotiations between the Government and Shell Trinidad and Tobago Limited on gas related issues. In April 2018, a Team led by the Honourable Prime Minister held high-level discussions with the […]
OPEC Sees Bearish Oil Outlook For Rest Of 2019
(Reuters, Alex Lawler, 16.Aug.2019) — OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply. In a monthly report, the Organization […]
PDVSA Partners Fear Latest U.S. Sanctions: Sources
(Reuters, Luc Cohen, 14.Aug.2019) — Foreign joint venture partners with Venezuelan state-owned oil company PDVSA are concerned the latest set of U.S. sanctions on the South American country could disrupt their operations, three industry sources said. The Trump administration last week froze all Venezuelan government assets in the United States […]
Tullow Says Jethro-1 Well Finds 55M Of Net Oil Pay Offshore Guyana
(Tullow, 12.Aug.2019) — Tullow Oil plc announces the results of its Jethro-1 exploration well, drilled on the Orinduik licence offshore Guyana by its wholly owned subsidiary Tullow Guyana B.V. The Jethro-1 was drilled by the Stena Forth drillship to a Total Depth of 4,400m metres in approximately 1,350 metres of […]
Jethro-1 Delivers The Goods For Tullow Offshore Guyana
(WoodMac, 12.Aug.2019) — The Jethro-1 well, drilled in the Orinduik block, offshore Guyana, has delivered for Tullow Oil, with chief executive Paul McDade saying the prospect could hold more than 100 million barrels of recoverable oil, subject to appraisal. Commenting on the discovery, Julie Wilson, director, global exploration, at Wood […]
Data Consortiums Signal The Future Of Oil And Gas
(WoodMac, 7.Aug.2019) — The energy industry has a data problem: Every major exploration and production company collects petabytes of data, but their analysis is limited to their own petabytes. Companies need access to industry-wide data to gain accurate insight into the sector, and to make better business decisions. Wood Mackenzie […]
U.S. Expands Sanctions Against Venezuela
(WSJ, Vivian Salama, 6.Aug.2019) — The Trump administration imposed a total economic embargo against the government of Venezuela, a significant escalation of pressure against the regime of President Nicolás Maduro and countries including Russia and China that continue to support him, a senior administration official said. President Trump late Monday […]
Venezuela Oil Exports Slid 17.5% In July-Data
(Reuters, Marianna Parraga, 1.Aug.2019) — Venezuela’s oil exports fell 17.5% in July to their second-lowest level since Washington imposed sanctions on the nation as state-run PDVSA finds fewer customers to take its oil, according to internal data from the company and Refinitiv Eikon. PDVSA and its partners exported a total […]
Russian Fuel Flowing Miles To Venezuela
(Bloomberg, 1.Aug.2019) — Russian oil products are making their way to sanction-stained Venezuela, affording a reprieve for the Latin American nation as it battles persistent fuel shortages. Venezuela received at least 616,000 barrels of gasoline and 500,000 of vacuum gas oil, a feedstock used to produce gasoline, in June and […]
The U.S.’ Plan To Rebuild Venezuela After Maduro
(WSJ, Paulo Trevisani, 1.Aug.2019) — U.S. Commerce Secretary Wilbur Ross laid out a plan including credit and investment to help rebuild Venezuela’s economy under democratic rule, as Washington continues to push for new leadership in the struggling nation. The American plan is contingent on the removal of Venezuela’s authoritarian leader, […]
Wintershall Dea And ConocoPhillips Team Up In The Prolific Neuquén Basin
(Wintershall, 25.Jul.2019) — ConocoPhillips is a new partner in the Aguada Federal and Bandurria Norte blocks with Wintershall Dea. The two companies will advance the development of the significant Vaca Muerta shale resources in the blocks. Wintershall Dea is pleased to announce that it has signed a Sales and Purchase […]
Core Laboratories Sets Earnings Call Schedule
(Core Laboratories, 24.Jul.2019) — Core Laboratories N.V. scheduled a conference call to discuss Core’s second quarter 2019 earnings announcement. The call will begin at 7:30 a.m. CDT / 2:30 p.m. CEST on Thursday, 25 July 2019. To listen to the call, please go to Core’s website at www.corelab.com. ***
Weatherford Awarded Contract With Colombia, South America Operator
(Weatherford, 24.Jul.2019) — Weatherford International plc announced a contract win with a Colombia, South America operator to migrate seven LOWIS® sites (3,000 wells) to the Company’s ForeSite® Production Optimization software platform. Under the newly signed contract, the Company will provide all maintenance and services for the software platform for five […]
Core Lab Reports 2Q:19 Results
(Core Laboratories, 24.Jul.2019) — Core Laboratories N.V. reported that continuing operations resulted in second quarter 2019 revenue of $169,000,000. Second quarter 2019 revenue was impacted by a mid-quarter divestment of a non-strategic business in Asia Pacific and a softer than expected North American services market. Core’s operating income was $28,000,000 […]
Fallout From Sweet Oil Deal For Venezuela’s Neighbors
(NPR, 20.Jul.2019) — It sounded like such a good idea at the time. The year was 2005. Global oil prices were climbing dramatically. Countries in the Caribbean were facing major fuel shortages. Venezuela, one of the world’s largest producers of crude, offered to ease the staggering fuel costs faced by […]
Sanctions Squeeze Venezuela’s EHCO Output
(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 […]
Siemens Turbine Generator To Power Eni Mexico Area 1
(Siemens, 9.Jul.2019) — Siemens will provide MODEC with three 34-megawatt (MW) SGT-A35 gas turbine power generation packages that will power MODEC’s floating production, storage, and offloading (FPSO) vessel. The vessel, referred to as the “Eni Mexico Area 1 FPSO,” will be deployed in the Offshore Area 1 approximately 6 miles […]
Valerie Bosse To Head Wintershall Dea In Brazil
(Wintershall, 9.Jul.2019) — Change at the top of Wintershall Dea in Brazil: Valerie Bosse is the new Managing Director of the Wintershall Dea Business Unit Brazil and is responsible for all previous Wintershall and DEA activities in the country. On 30 April 2019, the two German companies Wintershall Holding GmbH […]
JinkoSolar Supplies 7.8MW To Two Plants In Hungary
(JinkoSolar, 5.Jul.2019) — JinkoSolar Holding Co., Ltd. announced that it has supplied I+D Energias with 7.8MW of solar modules which were installed at two PV power plants in Hungary. The construction of both plants began in November 2018 and was completed in record time by March 2019. Located in the […]
Eni Awarded New E&P License Offshore Ghana
(Eni, 3.Jul.2019) — Eni (70%) and its partner Vitol (30%) have been awarded rights to Block WB03, located in the medium deep waters of the prolific Tano Basin, offshore Ghana. This result allows Eni to further consolidate its presence in the Country. Eni will be the Operator of the license […]
Eni Starts Production Offshore Mexico At Area 1
(Eni, 2.Jul.2019) — Eni has started the early production phase from the MiztĂłn field in Area 1, located in the Campeche Bay offshore Mexico. This is the first step in the development of Area 1, estimated to hold 2.1 billion of oil equivalent in place (90% oil) in the Amoca, […]
Premier Makes Significant Resource Upgrade At Zama
(Premier, 27.Jun.2019) — Premier has significantly increased its resource estimate of the Zama field offshore Mexico, following its evaluation of the data acquired from the highly successful Talos Energy-operated Block 7 Zama appraisal campaign. The campaign comprised two appraisal wells (Zama-2 and Zama-3) and a vertical side-track (Zama-ST1) which was […]
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 […]
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. ***
Poland’s PGNiG And Venture Global LNG To Acquire 1.5 MTPA Of LNG
(Venture Global, 12.Jun.2019) — In connection with the state visit of The President of Poland, Andrzej Duda to Washington D.C., the Polish Oil and Gas Company (PGNiG) has signed, in the Eisenhower Executive Office Building of the White House, an agreement with Venture Global LNG to purchase an additional 1.5 […]
Total, Shell, Petrobras Launch Mero 2 Project Offshore Brazil
(Chron.com, Jordan Blum, 12.Jun.2019) — The Libra Consortium led by Petrobras, Royal Dutch Shell and Total said they’ve authorized construction of the multibillion-dollar Mero 2 project offshore of Brazil. The authorization shows the international offshore sector is continuing a slow but steady rebound worldwide. The new development involves building a […]
Libra Consortium Takes FDI On Mero-2 FPSO In Brazil’s Pre-Salt
(Shell, 11.Jun.2019) — Libra Consortium announced the final investment decision to contract the Mero-2 floating production, storage and offloading (FPSO) vessel to be deployed at the Mero field offshore Santos Basin in Brazil. The FPSO will have a capacity to process up to 180,000 barrels of oil per day. The […]
Europe’s Norway To Fund 30 MW Solar-Plus-Storage In Guyana
(Renewables Now, 10.Jun.2019) — Norway, through its ministry of climate, has approved the transfer of funds for the construction of 30 MW of solar photovoltaic (PV) farms with energy storage in Guyana. According to the Guyanese department of public information, Norway will release GYD 16 billion (USD 77m/EUR 68m) to […]
Norway To Fund 30 MW Of Solar-Plus-Storage In Guyana
(Renewables Now, 10.Jun.2019) — Norway, through its ministry of climate, has approved the transfer of funds for the construction of 30 MW of solar photovoltaic (PV) farms with energy storage in Guyana. According to the Guyanese department of public information, Norway will release GYD 16 billion (USD 77m/EUR 68m) to […]
UOCRA Union Leader Arrested In Argentina
(Energy Analytics Institute, Aaron Simonsky, 7.Jun.2019) — UOCRA union leader Juan Carlos Levi was reportedly arrested in Argentina after a search of his home, online media Diariamente Neuquen reported. Levi is is being investigated for his involvement in a shootout recently at the Sierras Blancas Field operated by Shell Argentina, […]
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 […]
Initiatives In The Circular Economy: Eni
(Eni, 6.Jun.2019) — In order to ensure long-term growth in the future, the Company must be economically, technically and environmentally efficient. Efficiency is a broad concept that includes continuous evolution, with a view to growth, the regeneration of what was built in the past, according to the new prospects that […]
Canadian Solar Inks 500 MW Module Supply Deal For Two Projects In Spain
(Canadian Solar, 6.Jun.2019) — Canadian Solar Inc. signed a module contract with the global solar power company Solarcentury to supply 500 MW modules to Solarcentury’s two projects ‘Cabrera’ (200 MW) and ‘Talayuela Solar’ (300 MW) in Spain. The construction for the 200 MW Cabrera project is scheduled to begin in […]
Bristow Inks Five Year Deal With BP
(Energy Analytics Institute, Jared Yamin, 31.May.2019) — Bristow Group Inc. signed a new deal with BP plc to support its North Sea operations. The contract, with a five year primary term, commenced on 13 May, Bristow announced in an official statement. “This award further builds on Bristow’s success in the […]
BP Says Advancing Its Business In Trinidad And Tobago
(bptt, 31.May.2019) — BP’s Upstream chief executive Bernard Looney yesterday emphasized the company’s long-term commitment to Trinidad and Tobago during a meeting with the Honourable Prime Minister Dr Keith Rowley and other T&T Government representatives at BP’s head office in London. Looney said: “BP values our long-term partnership with Trinidad […]
LatAmNRG Bolivia Briefs: YPFB And Shell Deal For Yapucaiti X 1 Well
(Energy Analytics Institute, Ian Silverman, 24.May.2019) — Heard on the street and LatAmNRG briefs related to YPFB being the withholding agent for transport carriers in Chaco, and YPFB and Shell signing a deal for an estimated $220 million for the Yapucaiti X 1 exploration well. YPFB To Retain Funds From […]
Guyana Investigates Oil Block Leases Controlled By Exxon
(Oilprice.com, Tsvetana Paraskova, 23.May.2019) — The world’s newest offshore hotspot, Guyana, is in the early stages of a probe into how oil exploration rights were awarded for oil blocks that are currently controlled by ExxonMobil and Tullow Oil, Clive Thomas, director of Guyana’s State Assets Recovery Agency, told Bloomberg in […]
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 […]
Ultrapar To Acquire Up To $200,000,000 Of Outstanding 5.250% Notes Due 2026
(Ultrapar, 22.May.2019) — Ultrapar International S.A., a public limited liability company (sociĂ©tĂ© anonyme) organized and established under the laws of the Grand Duchy of Luxembourg with registered office at 6, rue Eugène Ruppert, L-2453, Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Commerce and Companies (Registre […]
Repsol Winds Down Operations In Venezuela
(VOA, Martin Arostegui, 21.May.2019) — Spain’s Repsol, the last western oil giant with major operations in Venezuela, is leaving the embattled country, as pressure mounts from U.S. sanctions and continuing unrest. Repsol’s investments in Venezuela, valued at nearly $1.7 billion (1,480 billion euros) in 2017, have fallen 70% over the […]
Buenavista Renewables, ESCO, And Zodiac Aerospace Ink Long-Term PPA
(Buenavista, 20.May.2019) — Buenavista Renewables MĂ©xico, S. de R.L. de C.V. (“BVR”), a Buenavista Renewables company, and ESCO Comercializadora EnergĂ©tica S. de R.L. de C.V., a qualified supplier from Mexicali, Baja California, announce they have entered into a tripartite long-term Power Purchase Agreement with Zodiac Aerospace Equipo de MĂ©xico S. […]
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 […]
Enel: Positive Impact From Resolution Of Pending Issues In Argentina
(Enel, 17.May.2019) — Enel S.p.A. announces that its listed Chilean subsidiary Enel AmĂ©ricas S.A. (“Enel AmĂ©ricas”) informed that its subsidiary in Argentina, Empresa Distribuidora Sur S.A. (“Edesur”), signed with Argentina’s national government two agreements that enable the resolution of certain pending regulatory issues, and called an Extraordinary Shareholders’ Meeting for […]
Tullow Oil, Partners Exempted From Range Of Taxes In Guyana
(Stabroek News, 17.May.2019) — The National Assembly on Wednesday assented to tax concessions for the United Kingdom-headquartered Tullow Oil as well as its partners. “I humbly do my duty in seeking that this order be affirmed,” Finance Minister Winston Jordan, in whose name the order was laid, told the House […]
Wintershall DEA Boosts Interest In Block 5 Offshore Mexico
(Wintershall DEA, 17.May.2019) — Wintershall Dea and its partners in Block 5, Murphy Sur (operator), a wholly owned subsidiary of Murphy Oil Corporation, and PC Carigali Mexico Operations, S.A. de C.V. (PCCMO), a subsidiary of PETRONAS, have signed a Sales and Purchase Agreement with Ophir Energy, to acquire Ophir’s 23.33% […]
Argentina Awards 18 Exploration Areas Offshore For $724 Million
(Energy Analytics Institute, Aaron Simonsky, 17.May.2019) — Argentina’s Energy Secretariat awarded 18 areas corresponding to the first International Offshore Public Competition, the country’s Finance Ministry announced May 17 in an official statement. The crude oil and natural gas exploration areas offered cover three basins of the Argentine continental shelf. Companies […]
Total CEO Says Planned Buy Of Anadarko’s Africa Assets ‘Perfectly Fitting’
(Reuters, Humeyra Pamuk, 16.May.2019) — French energy giant Total SA’s planned acquisition of U.S. firm Anadarko’s African assets is “perfectly fitting” with the company’s overall strategy and helps play to its strengths, Chief Executive Patrick Pouyanne said on Thursday. Total agreed to buy all of Anadarko’s oil-and-gas-producing assets outside the […]