Latin America and the Caribbean Archives - Page 100 of 222

ExxonMobil Reveals Plans To 2027

(Exxon, 1.Dec.2021) — ExxonMobil has finalized corporate plans, which increase spending to $15bn on greenhouse gas emission-reduction projects over the next six years while maintaining disciplined capital investments in its industry-leading portfolio. The plans support the corporate strategy of continued structural cost savings, investment in low-cost-of-supply and lower-emission products, and […]

MEEI Head Meets With Trinidad Exploration [PDF Download]

(MEEI, 1.Dec.2021) — In his continuing efforts to meet and engage key energy sector stakeholders, The Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young, M.P. along with Permanent Secretary (A.g) Penelope Bradshaw-Niles met with Non- Executive Chairman Nicolas […]

Venezuela: Nov. Oil Output Rises To 660 Mb/d

(S&P Global Platts, 30.Nov.2021) — Oil production by Venezuela’s state PDVSA and its foreign partners rose to 660,000 b/d in November, up 40,000 b/d from October, Nov. 30 PDVSA production reports reviewed by S&P Global Platts showed. Orinoco Belt output rose to 420,000 b/d, up 40,000 b/d from the 380,000 […]

Security Review Stalls Shell’s Refinery Sale to Pemex

(Reuters, 30.Nov.2021) — A U.S. national security review has delayed the sale of Royal Dutch Shell‘s (RDSa.L) controlling interest in a Texas refinery to Mexico’s national oil company, Petroleos Mexicanos (Pemex), Shell said on Tuesday. Shell in May disclosed an agreement to sell its 50% interest in the 302,800-barrel-per-day (bpd) Deer Park, […]

NRGBriefs: Argentine Pipeline Tender, Lebanon Summit

(Energy Analytics Institute, 30.Nov.2021) — Energy briefs including Argentina revealing plans for a tender for the start of the process for the construction of the first stage of the Néstor Kirchner Gas Pipeline and the Transport.Ar National Production Gas Pipeline System; the EU welcoming the “largely calm and peaceful atmosphere” […]

ANH To Hold Hearing For Colombia Round 2021 Proposals

(ANH, 30.Nov.2021) — The National Hydrocarbons Agency – ANH will hold tomorrow 1 December 2021, the Presentation of Proposals Hearing of the Colombia Round 2021 to continue advancing in the reactivation of the hydrocarbons sector. In the Colombia Round 2021, 17 companies were qualified, a new contractual framework was structured, […]

Seadrill Limited Provides 3Q:21 Market Update

(Seadrill, 29.Nov.2021) — Seadrill Limited (OSE: SDRL, OTCPK: SDRLF), a world leader in offshore drilling provides a market update for the third quarter of 2021. During the quarter, Seadrill continued to sign high-quality contracts contributing $145mn to backlog, reflecting the depth of its customer relationships. Total backlog as of 30 September 2021 stood at $2.1bn. […]

Mainstream Renewable Raises €90mn To Accelerate New Market Entries

(Mainstream Renewable, 29.Nov.2021) — Mainstream Renewable Power raised €90mn in additional funding to accelerate new market entries and the build-out of gigawatt-scale wind and solar assets across Latin America, Africa and the Asia Pacific region. The capital increase raised €90mn from Mainstream’s current shareholder base, including Aker Horizons, which maintained its 75% stake in the […]

Fact Sheet: Portocem LNG-to-Power Project

(Ceiba Energy, 29.Nov.2021) — Ceiba Energy is developing the Portocem LNG-to-power project in Northeast Brazil. The project is located next to an existing port and will receive LNG shipped via FSRU transportation. The gas-fired combined cycle power plant is licensed up to 2.2 GW. The new plant will provide reliable […]

Petrobras Inks Deal For RLAM Transfer

(Petrobras, 26.Nov.2021) — Petrobras, regarding the news published in the media about the signing of the final transfer of the Landulpho Alves Refinery (RLAM) to Mubadala, clarifies that, as disclosed on 24 March 2021, it signed with MC Brazil Downstream Participações, a company of the Mubadala Capital group, a contract […]

Petrobras To Lease The TermoCamaçari Plant

(Petrobras, 26.Nov.2021) — Petrobras, following up on the release disclosed on 11 May 2021, informs that, after resuming negotiations with Proquigel Química S.A., a subsidiary of Unigel Participações S.A., for the leasing of the TermoCamaçari Thermal Power Plant (UTE TermoCamaçari), located in the State of Bahia, the negotiation was successfully […]

Petrobras Updates On Possible Braskem Offer

(Petrobras, 26.Nov.2021) — Petrobras, regarding the news published in the media about a possible offer of preferred shares of Braskem in the first quarter of 2022, clarifies that, as disclosed on 8, 9, 20 of June and 30 August, 1 October and 22 November, its stake in Braskem is still […]

Citgo 6 Remain Pawns In A US-Venezuela Standoff

(CNN, 26.Nov.2021) — The phone connection between a Venezuelan prison cell and Houston, Texas, crackles and fades. Jorge Toledo sounds tired. He’s been held for four years, one of six former executives of Venezuela’s US-based oil refining company CITGO convicted of corruption. The sounds of prison life echo as he […]

Petrobras Says Conditions Met To Suspend Judicial Deal With CEA

(Petrobras, 25.Nov.2021) — Petrobras, following up on the release disclosed on 11 May 2021, informs that the suspensive conditions related to the judicial agreement signed with Companhia de Eletricidade do Amapá (CEA) for the conclusion of litigation and credit recovery by Petrobras have been met. Thus, the agreement will generate […]

Petrobras Reveals Dividend Policy Details

(Petrobras,24.Nov.2021) — Petrobras‘ Board of Directors, in a meeting held today, approved the revision of the Shareholder Remuneration Policy (Dividend Policy). The enhancement of the Dividend Policy has become important because of the anticipated achievement of the target of gross debt below $60bn in the 3rd quarter of 2021, originally […]

Petrobras Approves Strategic Plan 2022-26 [PDF Downloads]

(Petrobras, 24.Nov.2021) — Petrobras‘ Board of Directors approved, in a meeting held today, the Strategic Plan for the five-year period 2022-2026 (SP 2022-26). With the vision of “Being the best energy company in value generation, focused on oil and gas, sustainability, safety, respect for people and the environment,” Petrobras reaffirms […]

Fitch Maintains Ecopetrol’s Rating At BB+

(Ecopetrol, 23.Nov.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) reports that Fitch Ratings affirmed the company’s credit rating at BB+ with a stable outlook and the stand-alone rating at bbb (without incorporating government support). Fitch highlighted the company’s linkage to the Republic of Colombia, which currently owns 88.5% of the voting shares, as […]

Cox Energy Starts Dual Listing On Spain’s BME Growth

(Cox Energy, 22.Nov.2021) — Cox Energy América (BIVA/BMV: COXA*), the first photovoltaic solar energy company to be listed on a Latin American stock exchange, announces to its shareholders and the general public that, in accordance with the resolutions issued at the ordinary and extraordinary general shareholders’ meeting held on 16 November […]

Colombia Presidential Front-Runner Would End New Oil Exploration

(Bloomberg, 21.Nov.2021) — Colombian front-runner Gustavo Petro said his first decision as president would be to stop awarding oil exploration contracts, according to an interview with El Tiempo. Petro, a left-wing candidate in next year’s presidential race, said he’d move Colombia away from an “extractivist” economy based on fossil fuels, allowing the […]

Guyana’s VP Jagdeo Says Oil Audits Will Be Completed

(DPI, 17.Nov.2021) — Vice President, Dr. Bharrat Jagdeo said the government will complete the audits of costs claimed by ExxonMobil for its operations, and assured that Guyana’s interests will be protected. His comment was made in response to concerns that the accounting provisions in ExxonMobil’s Stabroek block contract stipulate a […]

SQM Reports 3Q:21 Earnings

(SQM, 17.Nov.2021) — Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported earnings for the nine months ended 30 September 2021 of $263.9mn ($0.92 per ADR), an increase from $97.5mn ($0.37 per ADR) for the nine months ended September 30, 2020. Highlights — SQM reported net income for the nine months ended 30 […]

SBM Awarded Contracts For 4th FPSO In Guyana

(SBM, 17.Nov.2021) — SBM Offshore has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited […]

Ceiba Energy Completes Purchase of Breitener Energética

(Ceiba Energy, 16.Nov.2021) — Ceiba Energy, a Houston-based power company with a focus in Latin American markets, completed the acquisition of 100% of Breitener Energética S.A. from Petrobras and other minority partners. Ceiba Energy is backed by Denham Capital, a global sustainable infrastructure, energy and resources focused investment firm. Breitener […]

APA Corp. Reports Success At Sapakara South In Suriname

(APA, 16.Nov.2021) — APA Corporation (Nasdaq: APA) announced results from flow testing at the Sapakara South appraisal well and drilling results from the Bonboni exploration well, both operations recently completed on Block 58 offshore Suriname. APA Suriname holds a 50% working interest in the block, with TotalEnergies (TTE), the operator, […]

NRGBriefs: Solaris Provides Assay Results In Ecuador

(Energy Analytics Institute, 15.Nov.2021) — Energy briefs including Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) reporting assay results from a series of additional holes from ongoing resource growth and discovery drilling programs at its Warintza Project in SE Ecuador; SilverCrest Metals Inc. saying that at the end of 3Q:21 overall […]

Houston-based Citgo Reports 3Q:21 Results

(Citgo, 15.Nov.2021) — Citgo Petroleum Corporation reported its third quarter 2021 financial results, including a net loss of $4mn, compared to net income of $3mn for the second quarter. Marking the company’s second consecutive quarter of positive EBITDA1 after three straight quarters of negative EBITDA, EBITDA in the third quarter […]

TechnipFMC Inks Subsea Deal For Yellowtail Project

(TechnipFMC, 15.Nov.2021) — TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a large(1) contract by Exxon Mobil Corporation (NYSE: XOM) affiliate, Esso Exploration and Production Guyana Limited, to supply the subsea production system for the Yellowtail development. Subject to government approvals and final project sanction, TechnipFMC will provide project management, […]

Argentina’s Midterm Election Could Shift Oil Strategy

(S&P Global, 15.Nov.2021) — Argentina is facing a period of economic and political volatility after the Nov. 14 midterm legislative elections that could cap growth in natural gas production as companies take refuge in crude oil until conditions improve, including for projects to increase much-needed gas transport capacity, executives and […]

1 Dead, 12 Injured In Apparent Gas Explosion In CDMX

(AP, 14.Nov.2021) — An explosion apparently caused by an accumulation of cooking gas caused a multi-family dwelling to collapse in Mexico City on Saturday, killing one person and injuring 12. Rescue personnel working with trained dogs found the body in the rubble. The explosion essentially destroyed the two-story, brick-and-concrete structure. […]

NRGBriefs: Great Panther Closes Offering

(Energy Analytics Institute, 12.Nov.2021) — Energy briefs including Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) closing a previously announced public underwritten offering of 88,461,538 common shrs; PHX Minerals Inc.’s (NYSE: PHX) planning to release results for its fiscal 2021 year ended 30 Sep. 2021; and New Gold Inc. (TSX: NGD) […]

Edelcos and SAE Commence Mandatory Tender Offer for Class B Shares

(Edelcos, 12.Nov.2021) — Empresa de Energía del Cono Sur S.A. (Edelcos), along with its affiliate South American Energy LLP (“SAE” and together with Edelcos, the “Bidders”), commenced a previously announced all-cash tender offer in the US for all outstanding Class B Shares, including outstanding Class B Shares represented by American […]

TGS, BGP, CGG Commence Acquisition of Suriname 3D Phase 1

(TGS, 11.Nov.2021) — Further to the announcement on October 20, 2021 of a signed agreement with Staatsolie for multi-client programs offshore Suriname, TGS, acting as the marketing and licensing lead in a consortium with CGG and BGP, announced that acquisition for Phase 1 of the Suriname 3D project has commenced. […]

Cox Energy América Ranks As Top 10 Listed Companies In Mexico

(Cox Energy América, 11.Nov.2021) — Cox Energy América, S.A.B. de C.V. (BIVA/BMV: COXA*), the first photovoltaic solar energy company to be listed on a Latin American stock exchange, announces to its shareholders and to the general public that the company was recognized by “5050 Women on Boards” and “Women Corporate […]

io Consulting To Perform Preliminary FEED Services For NewGen Hydrogen Facility

(KGL, 11.Nov.2021) — Kenesjay Green Limited Ltd. (KGL) has selected the global project development consultancy io consulting to perform Front End Engineering Design (FEED) for the NewGen Limited Carbon Neutral / Green Hydrogen Project with 27,200 mtpy production capacity. Scheduled for completion in 2025, this will be the first electrolysis-based […]

Ecopetrol 3Q:21 Earnings Transcript

(Motley Fool, 10.Nov.2021) — Colombia’s state oil and gas company Ecopetrol hosted a webcast to report and discuss its third quarter 2021 earnings results. What follows is the transcript of the call. Operator Welcome to Ecopetrol’s earnings conference call, in which we will discuss the main financial and operational results […]

YPF Cites 3Q:21 Production Recovery [PDF Downloads]

(YPF, 10.Nov.2021) — YPF reported another quarter with strong profitability amid continuous recovery in O&G production, while maintaining positive free cash flow leading to further deleveraging. MAIN HIGHLIGHTS OF THE QUARTER • Profitability remained strong with Adjusted EBITDA surpassing the $1bn threshold for the second consecutive quarter, expanding 6.5% q/q. […]

YPF To Post Higher-Than-Expected Oil Production Growth

(S&P Global, 10.Nov.2021) — YPF, the biggest oil producer in Argentina, expects to post higher-than-expected oil production growth this year as it steps up drilling in the Vaca Muerta shale play to set it up for a continued rise next year, CEO Sergio Affronti said Nov. 10. “Shale oil production […]

Ecopetrol Reports 3Q:21 Results [PDF Download]

(Ecopetrol, 9.Nov.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announced the Ecopetrol Group‘s financial results for the third quarter of 2021. The financial results were prepared in accordance with the International Financial Reporting Standards applicable in Colombia. The figures included in this report were extracted from the company’s unaudited financial statements. The financial […]

NRGBriefs: YPF Class D Director Resigns

(Energy Analytics Institute, 9.Nov.2021) — Energy briefs including YPF’s BODs accepting the resignation of Ms. Elizabeth Dolores Bobadilla, as director for Class D shares; Avino Silver & Gold Mines Ltd. entering into a definitive deal with Coeur to acquire the La Preciosa silver project in Mexico; and more. LATIN AMERICA […]

Rio de Janeiro Looks to establish Voluntary Carbon Credit Marketplace in Brazil

(Carbon Trading Exchange, 9.Nov.2021) — On 22 June 2021, Rio de Janeiro Mayor Eduardo Paes published Decree No. 48.995/21, which started the Carbon Trading Exchange Work Group. The Work Group reviewed almost 200 years of work done in Rio de Janeiro on Environmental, Finance and Education by local companies and […]

Touchstone Finds Light Oil At Royston-1

(Touchstone, 8.Nov.2021) — Touchstone Exploration Inc. (TSX, LSE: TXP) announced the results of the first of three planned production tests at our Royston-1 exploration well which has confirmed a light oil discovery in the lowermost section of the well. The section tested was initially designed to establish the base of […]

Guyana: Strategic Considerations for Local Content [PDF Download]

(Energy Analytics Institute, 8.Nov.2021) — According to the government of Guyana, the goal of their local content policy is to “maximize the level, quality, and benefits of participation in the petroleum sector value chain by Guyanese.” Guyana’s dynamic and rapidly progressing oil and gas development can create boundless opportunities for […]

Bolsonaro: Petrobras Pricing Independent

(Reuters, 6.Nov.2021) — Brazilian President Jair Bolsonaro lamented on Saturday that state-run oil company Petrobras sets domestic fuel prices independent of government interference and repeated his desire to privatize the firm. “We know about inflation, the rise in fuel prices. We know about Petrobras. The company is independent unfortunately, independent. […]

Venezuela Slashes Oil Production Target

(Bloomberg, 5.Nov.2021) — Venezuela’s state oil company slashed its output target by one-third as years of corruption, brain drain and inadequate investment crippled the nation’s energy infrastructure. PDVSA cut its daily production target to 1 million barrels from a 1.5-million-barrel goal announced in January, according to a company document seen […]

Pew Praises Commitments To Protect Coastal Wetlands

(Pew 5.Nov.2021) — The Pew Charitable Trusts applauded several nations for including ambitious targets to protect and restore coastal wetlands in their updated nationally determined contributions (NDCs). Parties to the Paris Agreement are increasingly recognizing the role that coastal “blue carbon” habitats can play in both mitigating and adapting to […]

NRGBriefs: Trinidad’s Gas Production Falls [PDF Download]

(Energy Analytics Institute, 5.Nov.2021) — Energy briefs including Trinidad and Tobago’s natural gas and LNG production continuing to slide; Caribbean Accelerator CEO Racquel Moses talking about things a small developing island state needs to advance its climate ambitions; and more. LATIN AMERICA AND THE CARIBBEAN Colombia — Vostock Capital will […]

Petrobras Finalizes Divestment Of Power Companies

(Petrobras, 5.Nov.2021) — Petrobras, following up on the release disclosed on 29 July 2021, says it has concluded the sale of its stakes of 20% in Termelétrica Potiguar S.A. (TEP) and 40% in Companhia Energética Manauara S.A. (CEM) to Global Participações Energia S.A. (GPE), through its subsidiaries GFT Participações S.A. […]

Petrobras In Negotiations With Petro Rio

(Petrobras, 5.Nov.2021) — Petrobras, following up on the release disclosed on 7 Oct. 2021, about the divestment project of the Albacora and Albacora Leste fields, in the Campos Basin, informs that its Executive Board concluded the analysis of the proposals received and, yesterday, it approved the start of the negotiation […]

Petrobras Comments On Communication From Controlling Shareholder

(Petrobras, 5.Nov.2021) — Petrobras clarifies that, due to news released in the media recently, consulted its controlling shareholder on the existence of information to be disclosed to the market in accordance with the CVM Resolution 44/2021. In communication received on 3 November 2021, the Ministry of Mines and Energy (MME) […]

Venezuelan Elections To Not Bring Sanctions Relief

(Platts, 4.Nov.2021) — Any major easing of US oil sanctions against Venezuela remains off the table, but the country’s Nov. 21 elections could provide a chance for relief around the edges like a restart to crude-for-diesel swaps. Candidates backed by President Nicolas Maduro are expected to sweep the local and […]