(Solaris, 29.Jun.2021) — Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) announces that all matters presented for approval at Solaris’ annual meeting of shareholders held today, as more particularly set out in the company’s Management Information Circular dated 13 May 2021, have been approved. These matters included: — Setting the number […]
Category: Ecuador
Ecuador energy
Ecuador Begins Crude Exports In Larger Vessels
(Reuters, 28.Jun.2021) — Ecuador for the first time on Monday exported a cargo of one of its flagship crudes, Oriente, aboard a very large crude carrier (VLCC), following an upgrade to a terminal that the South American country hopes will help it boost exports to Asia. The shipment of 1.08 […]
EP PetroEcuador To Tender For Oriente, Napo Crude Oils
(Energy Analytics Institute, 2.Jun.2021) — EP PetroEcuador will hold two new spot sales on 3 June 2021, including one for the export of 2,160,000 barrels of Oriente crude oil and another for the export of 1,080,000 barrels of Napo crude oil. The state oil entity is giving the winning companies […]
NRGBriefs: Pemex Deer Park Refinery Deal, Lasso Sworn In
(Energy Analytics Institute, 25.May.2021) — Energy briefs from the Latin America and Caribbean region including: Pemex’s Deer Park refinery acquisition being labeled a mistake by George Baker and Ecuador’s President Guillermo Lasso taking the helm in the South American oil producing country. LATIN AMERICA AND THE CARIBBEAN Pemex Deer Park […]
Ecuador Indigenous Protestors Block Access To Petroecuador Oil Field
(Reuters, 15.May.2021) — An indigenous community in Ecuador’s Amazon region is blocking access to one of state oil company Petroecuador‘s main fields in a protest over compensation, prompting the company to request help from the armed forces to deliver supplies. In a statement on Saturday, Petroecuador said the protest has […]
Trafigura Wins Bid To Export Fuel Oil No. 6
(Energy Analytics Institute, 17.Apr.2021) — EP Petroecuador awarded Singapore’s Trafigura PTE. LTD. an export deal for 1,900,000 barrels of Fuel Oil No. 6. The volume offered will be exported in 10 shipments of 190,000 +/- 10% each, which will be delivered between May and July 2021, EP PetroEcuador announced 17 […]
EP PetroEcuador Opens Doors To Corruption Investigation
(Energy Analytics Institute, 15.Apr.2021) — EP PetroEcuador offered Ecuador’s attorney general’s office access to all the necessary facilities it sees fit to collect any type of information requested as part of the investigation processes of the justice institution related to acts of corruption related to the state entity. Alleged cases […]
Ecuador Judge Orders Pre-trial Detention Of Officials In Oil Graft Case
(Reuters, 14.Apr.2021) — An Ecuadorean judge ordered that the country’s current comptroller and former energy minister be placed under pre-trial detention on charges of organized crime related to state oil company Petroecuador, prosecutors said on Wednesday. Prosecutors on Tuesday alleged that Comptroller Pablo Celi and former energy minister Jose Agusto […]
LatAm Briefs: Lasso Wins Run-off, Ecuador Oil Output
(Energy Analytics Institute, 13.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: Guillermo Lasso Mendoza winning Ecuador’s run-off election and Andean oil producer Ecuador pumping around 495,438 barrels per day of oil. Lasso Wins Run-off Election In Ecuador Guillermo Lasso Mendoza won the presidential run-off election on […]
US Sends Congrats To Guillermo Lasso
(US State Department, 13.Apr.2021) — On behalf of the people of the United States, I congratulate Guillermo Lasso on his election as the next President of Ecuador. We also extend our congratulations to the Ecuadorian people for exercising their right to select their leadership, especially during these uniquely challenging times. […]
Ecuador Bonds Rally As Millionaire Banker Wins Ecuadorian Presidency
(Bloomberg, 11.Apr.2021) — Ecuadorean bonds rallied after career banker Guillermo Lasso won the presidential election with a late surge in support, reassuring investors in the default-prone country and shoring up U.S. ties. Lasso beat out economist Andres Arauz, a left-wing protege of former President Rafael Correa, by a clear margin […]
Tipco Wins Bid To Export Napo Crude
(Energy Analytics Institute, 11.Apr.2021) — EP PetroEcuador awarded the Thai company Tipco Asphalt Public Company Limited a deal for the export of 720,000 barrels of Napo crude. The barrels will be offered in 2 shipments of 360,000 barrels +/- 5% each, which will be delivered in April 2021, PetroEcuador announced […]
Trafigura Wins Bid For Oriente Crude
(Energy Analytics Institute, 10.Apr.2021) — EP PetroEcuador awarded an export deal for 1,080,000 barrels of Oriente crude to Singapore company Trafigura PTE. LTD. The volume offered will be exported in 3 shipments of 360,000 barrels +/- 5% each, which will be delivered in April 2021, PetroEcuador announced 11 April 2021 […]
‘Triple Pandemic’ Devastating Ecuador’s Amazon Communities
(El Pais, 9.Apr.2021) — The fuel that flowed into the Napo and Coca rivers in the northeastern rainforest of Ecuador more than a year ago caused a humanitarian and ecological disaster. The affected indigenous communities are demanding answers from the authorities and companies that have been reluctant to act On […]
EP PetroEcuador Continues With Preventive Pipeline Work
(Energy Analytics Institute, 8.Apr.2021) — One year after the rupture of the Trans-Ecuadorian Pipeline System (SOTE), the Shushufindi-Quito Products Pipeline, operated by EP PetroEcuador, and the Heavy Crude Oil Pipeline (OCP), operated by OCP Ecuador SA, state entity EP PetroEcuador continues with work to prevent and mitigate damages caused by […]
EP PetroEcuador Dispatches 517 Million Gallons Of Fuel
(Energy Analytics Institute, 5.Apr.2021) — During the first quarter of 2021, EP PetroEcuador dispatched 516.72 million gallons of fuel including Super, Extra, Ecopaís, Artisanal Fishing and Diesel to Ecuador’s automotive and fishing sectors, the state entity announced 5 April 2021 in an official statement. ____________________ By Piero Stewart. © Energy […]
LatAm Briefs: Mendoza Province Asset Grab, Ecuador Elections
(Energy Analytics Institute, 2.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: Mendoza taking back an area in the Neuquina Basin from a Medanito subsidiary and Ecuador eying second round presidential elections. Mendoza Province Takes Back Assets From Medanito Subsidiary Argentina’s Mendoza province on 12 March 2021 […]
LatAm Briefs: Kircher On IMF, OCP President Resignation
(Energy Analytics Institute, 24.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina’s Cristina Kircher insisting the International Monetary Fund (IMF) give Argentina lower debt rates, the president of Caracas-based CAF resigning, and the president of Ecuador’s OCP resigning, among others. Kircher Insist IMF Give Argentina Lower […]
LatAm Briefs: PDVSA Pipeline Attack, EP PetroEcuador Replanting
(Energy Analytics Institute, 21.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Venezuela state oil giant denouncing an attack on a pipeline in Monagas state and EP PetroEcuador replanting 45 hectares in two Ecuadorian provinces. PDVSA Denounces Attack On Monagas Pipeline Venezuela’s state-owned oil producer Petróleos de […]
LatAm Briefs: Pemex Costs, Ecuador Output
(Energy Analytics Institute, 18.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Banco do Brasil CEO resigning under pressures from Brazil’s President Jair Bolsonaro, Ecuador’s oil production reaching 506,519 barrels per day (b/d), and Pemex reducing production cost. Banco do Brasil CEO Resigns Under Bolsonaro Pressures Petrobras […]
Ecuador Dedicates $300mn To Coastal Electrification Plan
(Energy Analytics Institute, 18.Mar.2021) — Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MENNR) as well as the country’s Ministry of Production, Foreign Trade, Investments and Fisheries, together with the National Electricity Corporation (CNEL) signed an inter-institutional agreement to allow for investment of approximately $300mn on works to improve the […]
Solaris Appoints Thomson To Board
(Solaris Resources, 16.Mar.2021) — Solaris Resources Inc. announced appointment of Mr. Kevin Thomson to its Board of Directors effective immediately. Mr. Thomson brings over 35 years of senior strategic mergers and acquisitions experience in the mining industry. Mr. Thomson currently serves as Senior Executive Vice President, Strategic Matters for Barrick […]
Ecuador, PTT Renegoitiate New Oil-For-Loan Deal
(Reuters, 11.Mar.2021) — Ecuador has reached a preliminary agreement with a unit of Thailand’s state-run PTT PCL to extend to 2024 the payment period of an oil-for-loan agreement that was originally planned to be fully paid through 2022, the country’s energy minister said on Thursday. State-run oil company Petroecuador was […]
Quito Electric Inaugurates Pifo Substation
(Energy Analytics Institute, 10.Mar.2021) — The Quito Electric Company (EEQ) inaugurated substation (S/E) No. 46 Inga Bajo, located in the Itulcachi sector, in the rural parish of Pifo. The investment in the substation was $3.4mn. The project will contribute to energy development in Pifo, guarantee new connections, and supply industrial […]
Ecuador Eyes Conolophus Photovoltaic Project
(Energy Analytics Institute, 5.Mar.2021) — Ecuador plans to install 14.8 megawatts (MW) of photovoltaic generation with 40.9 MWh batteries on Santa Cruz Island with estimated private investment of $45mn. Companies interested in development of the Conolophus photovoltaic project on the Galapagos Islands have until end of day 5 March 2021 […]
Frontera Announces CEO Succession
(Frontera, 3.Mar.2021) — Frontera Energy Corporation announced the appointment of current director Orlando Cabrales Segovia as Chief Executive Officer. The company also provided an update on its 2021 Strategic Plan, including its growth opportunity in Guyana, its full year 2021 guidance, and its plans to implement a normal course issuer bid […]
EP PetroEcuador Reveals Energy Efficiency Program
(Energy Analytics Institute, 10.Feb.2021) — Ecuador’s state oil company EP PetroEcuador announced details of its Energy Efficiency Program, which uses associated gas for electricity generation to optimize resources and minimize impacts on the environmental. According to details about the program, PetroEcuador achieved the following savings between June 2009 and December […]
China Expands Presence In LatAm’s Energy Industries
(IOA, 10.Feb.2021) — China is broadening its presence in Latin America’s energy and strategic minerals sectors, posing challenges to the regional countries themselves as well as to the United States, according to a new white paper published by the Institute of the Americas (IOA), an independent, nonpartisan organization based in […]
Ecuador’s Presidential Vote Heads To A Runoff
(New York Times, 7.Feb.2021) — Ecuadoreans are headed for a runoff presidential election following a vote Sunday in which a leftist economist drew the most votes, but not enough to secure an outright victory. The economist Andrés Arauz, outpolled a conservative rival, Guillermo Lasso, and an Indigenous environmental activist, Yaku […]
PetroEcuador Starts Work On Two SOTE Variants
(Energy Analytics Institute, 5.Feb.2021) — EP PetroEcuador has commenced preventive work to protect the integrity of the Trans-Ecuadorian Pipeline System (SOTE) with construction of two additional variants to the four already existing. The natural phenomenon of regressive and lateral erosion of the Quijos River (Alto Coca) and its tributaries is […]
OPEC Fund Marks 45 Years Of Driving Development
(The OPEC Fund, 28.Jan.2021) — The OPEC Fund for International Development (the OPEC Fund) marks its 45th anniversary today. Since inception, the multilateral development finance institution has approved more than $25bn in essential financing for 135 partner countries. Established in 1976 with a distinct mandate to drive development, strengthen communities […]
Three European Banks Stop Funding Trade Of Oil
(Al Jazeera, 25.Jan.2021) — BNP Paribas, Credit Suisse and ING have announced plans to exclude the problematic export from their trading activities in response to environmental criticisms. Several big European financial institutions — BNP Paribas, Credit Suisse and ING — have committed to halting the financing of the trade of […]
US Relations With Ecuador: Fact Sheet
(US State Department, 19.Jan.2021) — The United States sent a consul to Guayaquil, Ecuador, in 1825, and the U.S. Embassy in Quito opened in 1848. The United States and Ecuador share a history of partnership and cooperation, and have mutual interests in economic prosperity, democratic governance, regional security, environmental sustainability […]
EP PetroEcuador Completes Merger With PetroAmazonas
(Energy Analytics Institute, 4.Jan.2021) — The long awaited merger of Ecuador’s two state oil and gas entities EP PetroEcuador and PetroAmazonas EP was approved by the South American country’s President Lenín Moreno. The restructuring of the two companies conclosed on 31 December 2020 and Moreno signed executive decree #1221 on […]
Trafigura Wins Bid To Import Premium Diesel
(Energy Analytics Institute, 8.Dec.2020) — Ecuador’s state entity EP PetroEcuador awarded Trafigura Pte. Ltd. a deal to import 2,800,000 barrels of premium diesel. Trafigura won the deal with a differential of plus $0.37 per barrel. Approximately 46 qualified companies were invited to participate in the bid, of which six submitted […]
EP PetroEcuador Excludes Vitol From List Of Providers
(Energy Analytics Institute, 6.Dec.2020) — EP PetroEcuador will exclude Vitol Inc. from its list of suppliers due to the recent corruption case under investigation in the United States with respect to the bribes made to Ecuadorian officials. As a result, Vitol will no longer be invited to participate in international […]
Insurance Companies Offer Coverage To PetroEcuador
(Energy Analytics Institute, 5.Dec.2020) — Representatives of insurance companies Latina and Hispana resolved to join forces and present a single offer to safeguard the integrity and safety of the people, property, and operations of the EP PetroEcuador. The joint offer was for approximately $53,450,817.62 and the execution term of the […]
Novum Energy Wins Bid To Import Cutter Stock
(Energy Analytics Institute, 2.Dec.2020) — Ecuador’s state entity EP PetroEcuador awarded Novum Energy Trading Corp. a deal to import 1,260,000 barrels of cutter stock. Novum won the deal with a differential of plus $6.86 per barrel. Approximately 35 qualified companies were invited to participate in the bid process, PetroEcuador announced […]
B.B Energy Wins Bid To Import Naphtha Ron 80
(Energy Analytics Institute, 27.Nov.2020) — Ecuador’s state entity EP PetroEcuador awarded B.B Energy (Asia) PTE. LTD. a deal for the importation of 1,180,000 barrels of naphtha ron 80. B.B Energy won the deal with a differential of plus $1.18 per barrel. Approximately 44 qualified companies were invited to participate in […]
PetroEcuador’s Merino Is The New ARPEL Chairman
(Energy Analytics Institute, 26.Nov.2020) — EP PetroEcuador General Manager Ricardo Merino was appointed Chairman of the Board of the Association of Oil, Gas and Biofuel Companies in Latin America and the Caribbean (ARPEL by its Spanish acronym). ARPEL is made up of 24 operating companies and providers of public and […]
The Esmeraldas refinery to produce high quality diesel
(Piero Stewart, Energy Analytics Institute, 24.Nov.2020) — Maintenance work at the non-catalytic units #2 and #3 of the Las Esmeraldas Refinery included repair work on the static, rotating, and electrical equipment as well as instruments in the following units: heavy naphtha hydrotreater, catalytic reformer, regeneration loop and diesel hydrodesulfurizer (HDS). […]
Esmeraldas refinery to undergo maintenance work at non-catalytic units 2 and 3
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 24.Nov.2020, Words: 239) — EP PetroEcuador general manager Ricardo Merino supervised scheduled maintenance work at the non-catalytic units 2 and 3 of the Esmeraldas refinery. Work on the units will take around 47 days, PetroEcuador announced 24 Nov. 2020 in an official statement.
Work Starts On Vuelta Larga, Tabiazo, Crnel Highways
(Energy Analytics Institute, 19.Nov.2020) — EP PetroEcuador general manager Ricardo Merino and Esmeraldas prefect Roberta Zambrano participated in the start of road rehabilitation work along the Vuelta Larga, Tabiazo and Crnel highways. Work will include maintenance and rehabilitation of 27.5 kilometers of the E15 road and require an investment of […]
Ecuador Inaugurates $34.3mn La Concordia Line
(Energy Analytics Institute, 13.Nov.2020) — The new $34.3mn La Concordia-Pedernales transmission line in Ecuador will enhance productive, tourist and residential development in the Manabí province. Of the amount, the Inter-American Development Bank contributed $28.2mn, Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MERNNR) announced 13 November 2020 in an official […]
EP PetroEcuador Awards $54.8mn Insurance Policy
(Energy Analytics Institute, 12.Nov.2020) — Ecuador’s state oil and gas company EP PetroEcuador awarded an $54.8mn insurance to Hispana de Seguros to cover all oil risks as well as maritime civil and non-maritime civil liabilities. The decision “complies with all public procurement regulations,” online media El Comercio reported on 12 […]
PetroAmazonas EP Producing 408,163 B/D
(Energy Analytics Institute, 12.Nov.2020) — Production from Ecuador’s state entity in charge of oil and gas exploration and exploitation, PetroAmazonas EP, reached 408,163 barrels per day (b/d) on 12 November 2020. Private companies in Ecuador contributed another 103,424 b/d, PetroAmazonas announced in an official statement. As a result, Ecuador’s total […]
Petroamazonas EP Gets New Manager Franklin Paredes
(Energy Analytics Institute, 8.Nov.2020) — The Board of Directors of PetroAmazonas EP, led by the Ecuador’s Minister of Energy and Non-Renewable Natural Resources René Ortiz and the Chairman of the Board of the Public Companies Coordinating Company (EMCO EP) José Andrés López, appointed Franklin Paredes Galeas as deputy general manager […]
CEOs At PetroEcuador And PetroAmazonas Resign
(Energy Analytics Institute, 3.Nov.2020) — The CEOs of Ecuador state oil entities EP PetroEcuador, Ricardo Merino, and PetroAmazonas EP, Juan Carlos Bermeo, resigned within a 24-hour period over the weekend, reported online newspaper El Universo. Issues weighing in on both departures include fees related to Ecuador’s Oleoducto de Crudos Pesados […]
Executives At Ecuador’s State Oil Entities Resign
(Reuters, 2.Nov.2020) — The chief executives of Ecuador’s two state-owned oil companies resigned over the weekend ahead of a planned merger of the two firms, the country’s energy ministry said in a statement on Monday. The government has said the merger of Petroecuador, which controls the country’s oil refineries, and […]
Ecuador Spot Oil Sales Between 2017-2020
(Energy Analytics Institute, 29.Oct.2020) — EP PetroEcuador conducted 14 crude oil spot sales between 2017 and 2020, daily newspaper El Universo reported 29 October 2020. Details from Ecuador’s Energy Ministry reveal that between 2017 and 2019 approximately 25.8 million barrels were sold for a sum of $1.6bn. In accordance with […]