(Energy Analytics Institute, 4.Sep.2019) — “The massive Vaca Muerta formation is geologically comparable to the best US oil basins, particularly the Permian Basin in West Texas and southeastern New Mexico, and has the potential to join the ranks of the best oil plays in the world,” Exterran Vice President Federico […]
Category: Argentina
Argentina energy
Argentina Reinforces Security Of Vaca Muerta
(Reuters, 16.Sep.2019) — The Argentine government will step up security in the Vaca Muerta oil fields by placing the shale formation under the jurisdiction of the military police, the Ministry of Security said on Monday. Vaca Muerta is viewed as a key source of foreign exchange for Argentina´s struggling economy […]
Argentina Pursues $5bn LNG Project Amid Political Havoc
(Bloomberg, Jonathan Gilbert, 4.Sep.2019) — Argentina’s state-run oil company, YPF SA, is pushing ahead with plans to build a $5 billion natural gas export terminal despite the political and financial chaos racking the nation. The driller, which has led development of the nation’s Vaca Muerta shale trove, is in talks […]
Brazil Senate Approves TOR Settlement With Petrobras
(Reuters, 3.Sep.2019) — Brazil’s Senate on Tuesday night approved an amended transfer of rights agreement settling a dispute over pre-salt oil fields between the government and oil company Petrobras that still needs to pass the lower house to clear the way for auctions later this year. Senators agreed that 3 […]
LatAmNRG briefs: Liza Destiny, Dos Bocas, PDVSA
HOUSTON, TEXAS (By Energy Analytics Institute, Aaron Simonsky, 29.Aug.2019, Words: 327) — LatAmNRG briefs related to the Liza Destiny FPSO reaching Guyana, PDVSA investigating recent LPG plant explosion in Los Valles del Tuy, Dos Bocas Refinery conditioning work advancing in Mexico, and Ball Corporation signs a deal to divest its […]
Bolivia’s Gas Exports Down 30.4% YTD Thru May
(Energy Analytics Institute, Ian Silverman, 24.Aug.2019) — A report by Bolivia’s National Institute of Statistics (INE by its Spanish acronym) published in July 2019 shows that between January and May external demand for Bolivia’s natural gas is down 30.4% compared to the same five-month period in 2018. Bolivian gas exports […]
Equinor Signs Deal With YPF
(Zacks Equity Research, 22.Aug.2019) — Equinor ASA recently announced the signing of a deal with the Argentine energy company, YPF Sociedad AnĂłnima YPF, to jointly conduct exploration activities in the CAN 100 Block. The offshore prospect — acquired by YPF Sociedad in May — is located in the North Argentinian […]
Equinor Inks Deal With YPF, Expands In Argentina
(Zacks, 22.Aug.2019 ) — Equinor ASA recently announced the signing of a deal with the Argentine energy company, YPF Sociedad AnĂłnima YPF, to jointly conduct exploration activities in the CAN 100 Block. The offshore prospect — acquired by YPF Sociedad in May — is located in the North Argentinian Basin. […]
Argentina, Chile Ink Emergency Energy Deal
(Energy Analytics Institute, Aaron Simonsky, 22.Aug.2019) — Argentina’s Energy Secretariat Gustavo Lopetegui held meetings with his Chilean counterpart Juan Carlos Jobet to sign an Emergency Energy Coordination Protocol for energy emergencies and discuss bilateral energy cooperation affecting both natural gas, crude oil and electrical interconnections. The Emergency Energy Coordination Protocol […]
Argentina NatGas Exports Reach 5.9 MMcm/d In 1H:19
(Energy Analytics Institute, Aaron Simonsky, 22.Aug.2019) — Argentina shipped an average 5.9 million cubic meters per day (MMcm/d) of natural gas to Chile, Brazil and Uruguay during the first half of 2019. Argentina re-initiated gas exports to Chile in September 2018 under an interruptible modality, after abruptly suspending shipments in […]
Equinor And YPF Ink Offshore Exploration Deal
(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 […]
Argentina Inks NatGas Export Deal With Chile
(Energy Analytics Institute, Aaron Simonsky, 21.Aug.2019) — Argentina and Chile signed an agreement for the export of natural gas from the former to the latter. The deal — under the framework of Resolution 417/19 from 26 July (which established new guidelines for regarding authorization of natural gas exports) — through […]
Argentina’s Energy Secretariat Meets With Governors, Companies
(Energy Analytics Institute, Aaron Simonsky, 20.Aug.2019) — Argentina’s Energy Secretariat Gustavo Lopetegui held a meeting in provinces with governors and oil company executives to discuss recently announced freezes to oil and fuel prices. This was the first such discussion in which the Argentine government sought to establish joint dialogue with […]
Argentina Seeks To Stabilize Peso As Oil Companies Fret About Price Freeze
(S&P Global Platts, 20.Aug.2019) — Argentina’s newly installed economy minister, Hernan Lacunza, said Tuesday he will focus on stabilizing the currency as the key to pulling the country’s economy out of recession and reducing inflation, yet he will face pressure from oil companies who are concerned that a 90-day freeze […]
Argentina Enforces Fuel Price Caps
(Argus, 16.Aug.2019) — The price cap takes effect immediately, according to a decree published in the Official Bulletin, the newspaper of record. The downstream sector must keep oil product prices at the same levels as August 9 in all outlets, including retail and wholesale, through November 15, the decree states. […]
Argentina Freezes Local Oil, Fuel Prices For 90 Days
(Baker McKenzie, 16.Aug.2019) — In a context of a series of government measures aimed at appeasing the adverse economic effects arising as a result of the recent primary presidential elections in Argentina, the National Executive Branch issued today Emergency Decree 566/2019 freezing the exchange rate and price of crude oil […]
Argentina Caps Oil Prices By Decree
(Argus, 16.Aug.2019) — Argentina implemented a three-month freeze on fuel and crude prices through an emergency decree, eschewing an earlier plan to apply a decades-old law that was designed to avoid shortages. The decree specifies that refiners and hydrocarbon producers must fulfill all existing domestic demand during the period when […]
Sungrow Supplies Argentina’s Solar Plant
(Sungrow, 16.Aug.2019) — Sungrow, the global leading inverter solution supplier for renewables, announced that a 100.1 MWp solar plant utilizing the Company’s 1500Vdc central inverter solutions came online in Cafayate, Salta Province, Argentina, demonstrating the Company’s dedicated contribution to the largest solar plant in one of LATAM’s most booming solar […]
Argentina’s Opposition Primary Win May Put Energy Investment On Hold
(S&P Global Platts, 12.Aug.2019) — Argentina’s leading opposition coalition, a left-wing populist alliance that ruled the country from 2003-15, swept the national primaries Sunday, putting it in the running to win the October 27 general election and damp investment in the oil and natural gas sector. Frente de Todos, led […]
Petrobras Delists Shares From Argentine Exchange
(Petrobras, 9.Aug.2019) — Petrobras announces that its General Shareholders’ Meeting approved today the delisting of its common and preferred shares from Bolsas y Mercados Argentinos (BYMA) and the withdrawal from public trading in Argentina. The withdrawal from public trading still depends on the approval of the Argentine capital markets regulator. […]
Canadian Solar Energizes Solar Plant In Argentina
(Canadian Solar, 5.Aug.2019) — Canadian Solar Inc. announced its 100.1 MWp Cafayate solar power project in Argentina started commercial operation on July 19, 2019. It is now the largest operational solar power plant in the country. Located in the Province of Salta, the solar project is powered by over 289,000 […]
Argentina Gas Output At Highest Point In 11 years
(Energy Analytics Institute, Aaron Simonsky, 29.Jul.2019) — Production of crude oil and natural gas in Argentina continues to rise, aided by growth in unconventional volumes from the Vaca Muerta formation. Highlights: — Gas production in June 2019 rose 5.8% compared to June 2018; reaches highest point since September 2008 — […]
YPF Advances LNG Exports With Excelerate’s Assistance
(Excelerate, 25.Jul.2019) — YPF announced that a preliminary agreement was reached with Excelerate Energy L.P. (Excelerate) for the charter of a liquefied natural gas (LNG) carrier, which will export LNG produced from the TANGO FLNG unit, located in BahĂa Blanca, to the global natural gas market. Both parties will be […]
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 […]
McDermott Awarded Pre-FEED Contract For Vaca Muerta LNG In Argentina
(McDermott, 19.Jul.2019) — McDermott International, Inc. has been awarded a sizeable* contract by Argentina-based YPF, S.A. to provide pre-front-end engineering design (Pre-FEED) services for a five million tonnes per annum (MTPA) LNG Liquefaction Facility, with a potential expansion to 10 MTPA, at the Vaca Muerta Shale field in Argentina. The […]
Argentina: YPF Will Sell CNG At Its Gas Stations
(PetroPlaza, 15.Jul.2019) — The high production of Vaca Muerta’s field has driven the oil company to enter the Argentinian natural gas market. The high production of natural gas from Vaca Muerta’s field has prompted YPF Argentina to offer natural-based fuel in its network of gas stations. The company has stated […]
Vaca Muerta Output Growth Leads To LNG Exports
(EIA, 12.Jul.2019) — Argentina’s domestic natural gas production has been rising steadily in the past three years, largely because of increasing production from the NeuquĂ©n Basin’s Vaca Muerta shale and tight gas play. Production from Vaca Muerta surpassed 1.0 billion cubic feet per day (Bcf/d) in December 2018. As production […]
Argentina Opens Tender For $2bn Vaca Muerta Pipeline
(Reuters, 10.Jul.2019) — Argentina has opened the tender for a new $2 billion gas pipeline from the huge Vaca Muerta shale field, which according to the country’s Energy Secretariat, should be completed the middle of 2021. The pipeline, which a government source previously estimated would cost $2 billion, will run […]
Bolivia To Buy Petrobras’ Stake In Gas Pipeline
(Reuters, 9.Jul.2019) — Bolivia’s state-owned oil company YPFB plans to bid on a stake in a natural gas pipeline linking the country to Brazil to secure better terms for its gas sales there, the company said on Tuesday. YPFB intends to bid on an unidentified portion of the 51% stake […]
YPF Launches YPF Ventures, Invests In Bird
(YPF, 8.Jul.2019) — YPF announced the launch of YPF Ventures, a corporate venture capital fund that will expand YPF’s influence into emerging energy businesses. YPF is one of Latin America’s largest energy companies with $15B in revenue and 21 thousand employees. YPF Ventures is distinct from other corporate energy venture […]
Shale Helps Argentina Hit Oil, Natgas Output Record
(Reuters, 2.Jul.2019) — Argentine oil and natural gas output hit a record high in May thanks to increased production from the country’s sprawling Vaca Muerta shale formation, the government said on Wednesday. National gas production increased 7.6% in May compared with the same month last year, while oil production grew […]
Total Eclipse Wipes Out Half Of Chile’s Solar Power
(Bloomberg, Laura Millan Lombrana, 2.Jul.2019) — The total eclipse that plunged South America into darkness for a short while on Tuesday also knocked out about half of Chile’s solar power. Chilean solar farms, which can altogether produce about 2 gigawatts of electricity, saw their output slide by 1.2 gigawatts, according […]
Moody’s Assigns B2 Rating To Pampa Energia’s Notes
(Moody’s, 1.Jul.2019) — Moody’s Investors Service assigned a B2 rating to Pampa EnergĂa S.A.’s proposed senior unsecured notes. The outlook is stable. Net proceeds from the proposed issuance will be used for liability management, capital spending, working capital and/or make capital contributions to certain subsidiaries or affiliates. The rating of […]
Techint To Build Headquarters In Neuquén
(Energy Analytics Institute, Aaron Simonsky, 27.Jun.2019) — Techint Group’s Argentine affiliate Tecpetrol plans to inaugurate a new office in NeuquĂ©n by April 2020. “We hope to inaugurate the building next year, and probably sometime during the first four months of the year,” reported online media RĂo Negro, citing Tecpetrol CEO […]
NASA To Livestream South America Total Solar Eclipse
(NASA, 27.Jun.2019) — NASA has partnered with the Exploratorium in San Francisco to bring live views to people across the world of a total solar eclipse, occurring Tuesday, July 2, over South America. The eclipse will only be visible directly to observers within the path of totality, which stretches across […]
Tullow Eyes Two Guyana Exploration Wells In 2H:19
(Tullow, 26.Jun.2019) — In Guyana, Tullow plans to drill two consecutive exploration wells in the second half of 2019 on the Orinduik licence with the Stena Forth drillship which is currently in transit from Ghana. The first well will target the Lower Tertiary Jethro prospect and drilling is expected to […]
ENRE Fines Edesur $278.2mn Related To Electrical Safety
(Energy Analytics Institute, Aaron Simonsky, 25.Jun.2019) — Argentina’s regulator of electric services or ENRE fined Edesur $278.2 million for “anomalies” related to electrical safety along public highways. ENRE ordered the sanction for reported defaults that were verified between July and September of 2017, reported online media ClarĂn. During that period, […]
U.S. Judge Sets Audience For 11 July 2019
(Energy Analytics Institute, Aaron Simonsky, 25.Jun.2019) — Lawyers defending Argentina and Burford Capital faced off in the court of Judge Loretta Preska in the first official trail appointment related to the nationalization of YPF since the Supreme Court declined Argentina’s request seeking to annul the suit in the U.S. Supreme […]
LatAmNRG Heard On The Street: Gas Markets, Argentina Tender
(Energy Analytics Institute, Aaron Simonsky and Ian Silverman, 25.Jun.2019) — Heard on the street related to the Latin America and Caribbean upstream, midstream, downstream and renewable energies sectors. ARGENTINA — During the first half of July a tender will be launched in Argentina for the construction of a new natural […]
Vaca Muerta Finally Produces Oil, 100 Years Later
(Bloomberg, Jonathan Gilbert, 25.Jun.2019) — Along the western edge of Argentina’s Patagonia, on an arid steppe nestled against the Andes mountains, lies a shale formation known as the Vaca Muerta. And ever since engineers confirmed what an American geologist suspected a century ago — that the Vaca Muerta, or dead […]
YPF Nationalization Trial To Continue In The U.S.
(Energy Analytics Institute, Aaron Simonsky, 24.Jun.2019) — The U.S. Supreme Court of Justice dealt another blow to the strategy of the government of Argentina’s President Mauricio Macri when it deactivated the multi million-dollar demand from Burford Capital for the nationalization of YPF; thus, giving a definite green light for the […]
Moody’s Assigns B2 Rating To YPF’s Proposed 2029 Notes
(Moody’s 24.Jun.2019) — Moody’s Investors Service (“Moody’s”) has assigned a B2 rating to YPF Sociedad Anonima’s (YPF) proposed senior unsecured notes due 2029. The issuance volume will be in line with benchmark size. The outlook is stable. Net proceeds from the proposed issuance will be used for liability management, capital […]
Echo Completes Tapi Aike Seismic Acquisition
(Echo, 19.Jun.2019) — Echo Energy plc announced completion of the 3D seismic survey across the western cube on its Tapi Aike licence in Argentina and that processing of the western cube data acquired has now commenced. Equipment is currently being demobilised out of the area by the seismic acquisition contractor […]
“We Don’t Know Anything Yet” About The Power Outage, Lopetegui Says
(Energy Analytics Institute, Aaron Simonsky, 17.Jun.2019) — Regarding a power outage that affected Argentina and Uruguay on 16 June, Argentina’s Energy Secretariat Gustavo Lopetegui said: “We don’t know anything yet.” An investigation to take at least 15 days will assist Argentine authorities to find the causes of the blackout, reported […]
Power Returns After Blackout In Argentina And Uruguay
(Reuters, 16.Jun.2019) — Power returned to much of Argentina and two neighbouring countries following a massive blackout that left tens of millions in the dark on Sunday, but Argentine President Mauricio Macri said the cause of the “unprecedented” outage was still unclear. Argentina’s grid “collapsed” around 7 a.m. local time leaving […]
Argentina And Uruguay Scramble To Restore Power
(Reuters, Adam Jourdan and Eliana Raszewski, 16.Jun.2019) — Argentina and Uruguay were scrambling to restore power to millions of people after a massive power failure hit the Argentine grid early on Sunday, Argentina’s Energy Secretariat said. Energy company Edesur Argentina said it had restored power for 75,000 clients in the […]
Power Failure Cuts Power To All Of Argentina And Uruguay, Supplier Says
(BBC, 16.Jun.2019) — A massive electrical failure has left all of Argentina and Uruguay without power, according to a major Argentine electricity provider. Reports said the power cut had also affected parts of Brazil and Paraguay. Argentine media said the power cut occurred shortly after 07:00 (11:00 BST), causing trains […]
CBHE President: Export Volumes Don’t Determine Profitability
(Energy Analytics Institute, Aaron Simonsky, 16.Jun.2019) — An agreement signed between Bolivia and Paraguay, to carry out a study aimed at building a binational gas pipeline, is important and the volume exported doesn’t determine the profitability of a business, Bolivia’s Information Agency (ABI) reported, citing Bolivia’s Hydrocarbons and Energy Chamber […]
Argentina And Uruguay To Advance Salto Grande Project
(Energy Analytics Institute, Aaron Simonsky, 14.Jun.2019) — The first phase of the joint development plan between Argentina and Uruguay to renovate the Salto Grande Bi-national Hydroelectric Complex will move forward with financing of $80 million from an Inter-American Development Bank (IDB) loan, Argentina’s Energy Secretariat said 14 June in an […]
Argentina Eyes Exporting Oil In 2020, Lopetegui Says
(Energy Analytics Institute, Aaron Simonsky, 14.Jun.2019) — Argentina’s Energy Secretariat Gustavo Lopetegui highlighted investments announced by Exxon Mobil destined for the massive development the Bajo del Choique – La Invernada block during the 6th Vaca Muerta Executive Board meeting that took place 14 June in NeuquĂ©n. “There are already four […]