(Energy Analytics Institute, 15.Oct.2021) — Energy briefs including details of four renewable energy-exporting opportunities in the Caribbean in Barbados, Jamaica, Trinidad and Tobago and Guyana; TotalEnergies extending the contract for the Maersk Voyager in Angola for Ondjaba-1; and more. EVENTS — The Caribbean Renewable Energy Forum 2021 takes place from […]
Category: Latin America and the Caribbean
As Western Oil Giants Cut Production, NOCs Step Up
(New York Times, 14.Oct.2021) — After years of pumping more oil and gas, Western energy giants like BP, Royal Dutch Shell, Exxon Mobil and Chevron are slowing down production as they switch to renewable energy or cut costs after being bruised by the pandemic. But that doesn’t mean the world […]
Petrobras Divests Bahia Terra Cluster
(Petrobras, 14.Oct.2021) — Petrobras, regarding the pieces of news in the media about the sale of onshore production fields, located in the Recôncavo and Tucano Basins, in the state of Bahia, jointly called the Bahia Terra Cluster, clarifies that it has received binding offers from potential interested parties in the […]
NRGBriefs: ANH Talks About Colombia’s Gas Potential
(Energy Analytics Institute, 14.Oct.2021) — Energy briefs including comments from a webcast hosted by the ACIPET spanning speakers such as ANH head Armando Zamora as well as ANH’s José de Armas and Ecopetrol executive Maria Fernand Arango; Colombia’s massive gas potential onshore and offshore; ExxonMobil heard being close to reaching […]
NRGBriefs: EP PetroEcuador Awards Export Deals
(Energy Analytics Institute, 13.Oct.2021) — Energy briefs including the IMF advising Argentina to lower its deficit and estimating Venezuela’s inflation at 2,700% this yr, Colombia’s mines and energy minister Diego Mesa saying the country is committed to advancing its decarbonization goals; EP PetroEcuador awarding export deals to Shell Western Supply […]
Staatsolie Inks Offshore PSC With Chevron
(Staatsolie, 13.Oct.2021) — By signing the Production Sharing Contract (PSC), Staatsolie grants Chevron rights for exploration, development and production in the offshore area, while Staatsolie retains the right to a forty percent participation. For the first time in Staatsolie’s history the company will participate as a partner in offshore activities […]
Mexico Presents Plan To Shutter Private Power Plants
(AP, 11.Oct.2021) — Mexico’s president presented details on Monday of a proposal that is likely to squeeze out hundreds of private power generating plants and may provoke complaints under the Mexico-U.S.-Canada free trade accord. The constitutional reform presented by President Andrés Manuel López Obrador would cancel contracts under which 34 […]
Pemex Makes $31.5mn Payment To Seadrill
(Seadrill, 11.Oct.2021) — Seadrill Limited (OSE: SDRL) (OTCPK: SDRLF) and the issuer announce that at the end of September 2021, certain subsidiaries of SeaMex Ltd. (in provisional liquidation), a 50/50 joint venture entered into by one of the issuer’s subsidiaries, Seadrill JU Newco Bermuda Ltd., received payments amounting to approximately […]
Aguila Energia Places $1.5bn Bid For Petrobras’ Bahia Fields
(Reuters, 11.Oct.2021) — A consortium led by Aguila Energia has placed the highest bid for Brazilian state-run oil company Petrobras‘ Bahia onshore fields, offering over $1.5 billion, according to two sources with knowledge of the situation. Petroleo Brasileiro (PETR4.SA), as the company is formally known, declined to comment. The proposal by […]
NRGBriefs: Brazil Eyes Vaca Muerta Gas
(Energy Analytics Institute, 11.Oct.2021) — Energy briefs including Argentina looking to send Vaca Muerta gas to Brazil; US-based Talos Energy setting date for 3Q:21 conf. call; and more. LATIN AMERICA AND THE CARIBBEAN Brazil — Brazil’s Foreign Minister Carlos França expressed “enthusiasm” over a deal w/ Argentina to allow for […]
NRGBriefs: Suriname’s Oil Finds
(Energy Analytics Institute, 8.Oct.2021) — Energy briefs including Blue Sky Uranium Corp.’s plans to implement a warrant exercise incentive program; Occidental revealing the date for its 3Q:21 conf. call; and more. LATIN AMERICA AND CARIBBEAN Argentina — SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) will release its 3Q:21 […]
NRGBriefs: Blinken Visits Lopez Obrador In CDMX
(Energy Analytics Institute, 8.Oct.2021) — Energy briefs including US secretary of state Antony Blinken visiting Mexico City for the US-Mexico high-level security dialogue; Petrobras planning to boost petrol and cooking gas prices; Great Panther Mining Limited reporting production results in Brazil and Mexico; and more. LATIN AMERICA AND CARIBBEAN Brazil […]
ANH Inks Contracts With Anadarko Colombia
(ANH, 8.Oct.2021) — The National Hydrocarbons Agency (ANH) and Anadarko Colombia Company signed 4 contracts for the exploration and production of hydrocarbons in the Colombian Caribbean, with investment commitments of approximately $1.4bn. Highlights: — Contracts COL-1, COL-2, COL-6 and COL-7 are located in contiguous areas off the coasts of Magdalena, […]
Energy Chamber Calls For Speedy Tax Reform
(Trinidad and Tobago Newsday, 7.Oct.2021) — The Energy Chamber of Trinidad and Tobago has called for immediate reform of the supplemental petroleum tax (SPT) and value-added tax (VAT) refunds to spur investments in oil production. In a statement on Wednesday, it said the changes introduced in 2020 for small onshore […]
Unipet Seeking To Open Gas station In Guyana
(Trinidad Guardian, 7.Oct.2021) — The United Independent Petroleum Marketing Company Limited (Unipet) has announced plans to build a US$4.9 million multi-purpose fuel station in Guyana. According to Unipet it is currently awaiting approval from the Guyana Environmental Protection Agency (EPA) to build a multi- purpose fuel facility at Pant ‘P’, […]
Petrobras Picks PetroRio As Top Bidder For Albacora
(Reuters, 7.Oct.2021) — Brazil state oil giant Petrobras has chosen a consortium of PetroRio SA and Cobra, a subsidiary of France’s Vinci SA, as the top bidder for its Albacora offshore oilfield, four people with knowledge of the matter said. The PetroRio-Cobra bid topped a competing offer placed by a […]
Brazil’s 2022 Presidential Vote: ‘Fascism Or Democracy’
(Euronews, 7.Oct.2021) — Brazil’s 2022 presidential election will be ballot between “fascism and democracy”, former leftist leader Luiz Inacio Lula da Silva told Euronews, as he mulls mounting a challenge against incumbent Jair Bolsonaro. Lula, 75, led the Latin American country between 2003 and 2010, introducing popular social measures that […]
Only Shell, Ecopetrol Place Bids In Brazilian Oil Round
(Reuters, 7.Oct.2021) — Brazil failed to sell off exploration and production rights in the most promising offshore oil blocks up for sale on Thursday, as its first oil auction since the start of the COVID-19 pandemic brought just 37.1 million reais ($6.7 million) into state coffers. In total, there were […]
ExxonMobil Boosts Stabroek Resource Estimate
(ExxonMobil, 7.Oct.2021) — ExxonMobil increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barrels. The updated resource estimate includes a new discovery at the Cataback-1 well, which brings the total significant discoveries to more than 20 within the Stabroek Block. […]
Hess Boosts Resource Estimate for Stabroek Block
(Hess, 7.Oct.2021) — Hess Corporation (NYSE: HES) announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 10 billion barrels of oil equivalent, up from the previous estimate of more than 9 billion barrels of oil equivalent. The updated resource estimate includes another […]
Petrobras Says 2022-26 Budget Under Preparation
(Petrobras, 6.Oct.2021) — Petrobras says its Strategic Plan 2022- 26 (SP 2022-26) is under preparation. Following the previous years, in SP 2022-26 the company intends to present its production curve, the plan’s financing, as well as the investment projection (CAPEX), including the amount to be spent each year and the […]
Cosan Joins US Climate Tech Fund
(Reuters, 6.Oct.2021) — Brazilian energy company Cosan SA (CSAN3.SA) has joined the U.S.-based Fifth Wall Climate Tech Fund as an investor and partner in a deal that also gives it preferential access to investments in startups developing lower carbon solutions. Cosan is one of Brazil’s largest corporations, controlling the country’s number 1 […]
NRGBriefs: ANH Eyes 17th Bid Round
(Energy Analytics Institute, 6.Oct.2021) — Energy briefs including Brazil’s ANP holding its 17th bid round; Ecuador’s oil production holding steady; Panama’s Generadora Gatún natural gas power plant expecting to start providing electricity in 2024; and more. LATIN AMERICA AND CARIBBEAN Brazil — Brazil’s ANP will hold its 17th Round of […]
Venezuela’s Coastal Villages Suffer As Oil Spills Rise
(Reuters, 6.Oct.2021) — Rebeca Reyes furiously scrubbed black tar from her kids’ arms after they swam in waters tainted by crude oil during a recent outing to Venezuela’s Punta Cardon beach. A breach in an undersea pipeline owned by state-run oil company PDVSA that had gushed for at least 10 […]
Emerging Oil Markets on the Path to Net Zero
(News America, 5.Oct.2021) — This year, the world has become increasingly aware of a global energy shortage as well as the irreversible damages of climate change. Throughout Europe, gas prices have tripled due to a fall in inventory meeting a fast-recovering global economy. Reduced wind power, which accounts for roughly […]
Guyana Capturing Global Attention At Dubai Expo 2020
(DPI, 4.Oct.2021) — The Guyana Pavilion at the greatest international mega event – Expo 2020 Dubai – has seen scores of people from across the globe already showing their interest in the vast array of opportunities Guyana holds for investment. Making this disclosure is the Guyana Office for Investment (GO-Invest). […]
Petrobras Releases Teaser For GOM E&P Assets
(Petrobras, 4.Oct.2021) — Petrobras started the opportunity disclosure stage (teaser), regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which owns offshore fields in the Gulf of Mexico. The teaser, […]
CNODC Yet To Express Interest In Búzios Field
(Petrobras, 4.Oct.2021) — Petrobras, following up on the release disclosed on 29 September 2021, informs that the partner CNODC Brasil Petróleo e Gás Ltda. has not expressed interest in exercising the option to purchase an additional share of 5% in the Production Sharing Contract of the Transfer of Rights Surplus, […]
Petrobras Concludes Obligations In DOJ Deal
(Petrobras, 4.Oct.2021) — Petrobras concluded the obligations set forth in its agreement with the U.S. Department of Justice (DOJ), previously disclosed in its 27 September 2018 release. The non-prosecution agreement, which related to Petrobras’ internal controls, accounting records, and financial statements during the period from 2003 to 2012, included certain […]
NRGBriefs: Colombia’s Hydrogen Roadmap
(Energy Analytics Institute, 4.Oct.2021) — Energy briefs including Colombia’s President Iván Duque Márquez launching the country’s hydrogen roadmap for the next decade during an event in Barranquilla; Trinidad and Tobago’s Minister of Finance Colm Imbert eying bid rounds; and more. Argentina — Lithium South Development Corp. (TSX-V: LIS) (OTCQB: LISMF) […]
NRGBriefs: Trinidad Missing Out On European Gas Crisis
(Energy Analytics Institute, 3.Oct.2021) — Energy briefs including SSR Mining Inc. setting the date for 3Q:21 quarterly call; Trinidad and Tobago’s Finance Minister Colm Imbert readies national budget presentation; Trinidad and Tobago struggling to boost LNG exports amid European gas crisis; talks set to resume again on 15 Oct. 2021 […]
Petrobras Won’t Artificially Control Fuel Prices
(Reuters, 2.Oct.2021) — Petrobras (PETR4.SA) Chief Executive Officer Joaquim Silva e Luna said there was “zero” risk that the state-run Brazilian oil company would seek to artificially control fuel prices even amid growing public outrage over inflation. Petroleo Brasileiro, as the company is formally known, will have to raise gasoline […]
NRGBriefs: Golden Arrow Drilling In Paraguay
(Energy Analytics Institute, 1.Oct.2021) — Energy briefs including Mantaro Silver Corp. changing its name to Mantaro Precious Metals Corp.; Golden Arrow Resources Corp. commencing a diamond drilling program in Paraguay; and more. LATIN AMERICA AND THE CARIBBEAN Bolivia — Mantaro Silver Corp.‘s (TSXV: MSLV) (FSE: 9TZ) BOD approved a change […]
Venezuela Close To Losing More Overseas Assets
(Argus, 30.Sep.2021) — A Dutch court has dealt the latest blow to Venezuela’s shrinking overseas portfolio that neither the Venezuelan government nor its political foes has succeeded in defending from creditors and arbitration claimants. In a 14 September Dutch appeals court ruling, Curacao’s state-owned RdK won the right to sell […]
Conciliation Deal With CENIT And Bicentenario Extended
(Frontera, 30.Sep.2021) — Frontera Energy Corporation (TSX: FEC), Cenit Transporte y Logística de Hidrocarburos S.A.S. and Oleoducto Bicentenario de Colombia S.A.S. separately announced they have agreed to extend the deadline for the approval of the conciliation agreement between Frontera, CENIT and Bicentenario from 30 September 2021 to 29 October 2021. […]
NRGBriefs: YPF’s 3Q:21 webcast, PGF’s global notes
(Energy Analytics Institute, 30.Sep.2021) — Energy briefs including Argentina’s YPF announcing details of its 3Q:21 webcast, Petrobras Global Finance B.V. (PGF) on settlement of early redemption of global notes, and refining worker detentions in Venezuela, among other updates. LATIN AMERICA AND CARIBBEAN Argentina
NRGBriefs: Colombia Eyes Hydrogen
(Energy Analytics Institute, 29.Sep.2021) — Energy briefs including revelation of Colombia’s hydrogen roadmap, Xodus conducting a study of Suriname’s gas resources and TotalEnergies CEO Patrick Pouyanné presenting the co.’s strategy outlook presentation. LATIN AMERICA AND THE CARIBBEAN Colombia — Colombia’s oil and mines minister Diego Mesa revealed 29 Sep. 2021 […]
Argentina Sets CO2 Emissions Target
(Energy Analytics Institute, 29.Sep.2021) — Argentina presented its second Nationally Determined Contribution (NDC) plan in December 2020 to update its commitment to limiting greenhouse gas emissions and mitigation goals. The South American country’s national mitigation goal is “absolute, unconditional, and applicable to all sectors of the economy,” according to details […]
Orea Updates On Gold Project Acquisition In Suriname
(Orea, 29.Sep.2021) — Orea Mining Corp. (TSX: OREA) (OTCQX: OREAF) (FSE: 3CG) provided an update on the acquisition of a new gold project located in Suriname, South America. As announced on 6 July 2021, Orea signed of a Binding Term Sheet (BTS) to acquire up to a 75% interest in […]
NEC, Methanex Partner On Methanol-fuel Feasibility Study
(Trinidad and Tobago Newsday, 29.Sep.2021) — The National Energy Corporation and Methanex Trinidad Ltd have partnered to conduct a feasibility study on the viability of methanol as an alternative fuel for transport. On Wednesday both sides signed a memorandum of understanding (MOU) which represented a public-private sector partnership, in support […]
Vaca Muerta is the World’s Quickest Growing Shale Play
(Rystad, 29.Sep.2021) — Argentina’s Vaca Muerta shale play, having registered strong growth in oil and gas production and well activity levels in recent months, has emerged as the world’s fastest growing major shale basin, a Rystad Energy report shows. A record number of wells were completed and put on production […]
Petrobras Halts Gas Production A Manati Field
(Petrobras, 29.Sep.2021) — Petrobras announced that on Monday 27 September 2021 gas production was halted at the Manati field, located in the Camamu Basin, in the state of Bahia, due to a leak in the onshore portion of its export pipeline. The pipeline’s operation was interrupted, with teams being mobilized […]
Petrobras On Expression Of Interest In Búzios Field
(Petrobras, 29.Sep.2021) — Petrobras, following up the release disclosed on 24 August 2021, informs that the partner CNOOC Petroleum Brasil Ltda. expressed interest in exercising the option to purchase an additional share of 5% in the Production Sharing Contract of the Transfer of Rights Surplus, for the Búzios field, in […]
APA’s Keskesi South-1 Appraisal Well Disappoints
(APA Corp., 29.Sep.2021) — APA Corporation (Nasdaq: APA) announced results from appraisal drilling at Keskesi South-1 on Block 58 offshore Suriname. APA Suriname holds a 50% working interest in the block, with TotalEnergies, the operator, holding a 50% working interest. Keskesi South-1, drilled approximately 6.2 kilometers from the discovery well […]
Petrobras Expands Social Actions
(Petrobras, 29.Sep.2021) — Petrobras‘ Board of Directors approved the allocation of R$300mn, over a period of 15 months, for the creation of a social program to support families in situations of social vulnerability to contribute with access to essential inputs, focusing on liquefied petroleum gas (LPG), popularly known as cooking […]
Hunt Oil Peru On Rating Watch Negative
(Fitch, 29.Sep.2021) — Fitch Ratings has placed the ratings for Hunt Oil Company of Peru L.L.C., Sucursal del Peru’s (HOCP) on Rating Watch Negative (RWN), including the ‘BBB’ Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) and the ‘BBB’ USD600 million senior unsecured notes due 2028. The RWN reflects […]
Argentina Lithium To Buy Properties In Salta Province
(Argentina Lithium, 28.Sep.2021) — Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) is expanding its portfolio of lithium exploration projects in Argentina’s world renown Lithium Triangle. The company has entered into a letter of intent with a local vendor to acquire a 100% interest in the 2,370 […]
NRGBriefs: ANH’s Bid Round, Venezuela’s Declining GDP
(Energy Analytics Institute, 28.Sep.2021) — Energy briefs including Colombia’s ANH pushing back bid round deadlines, Colombia’s plans to reveal its hydrogen roadmap, and Trinidad and Tobago’s government commenting on a subsidy to Lake Asphalt Trinidad and Tobago Ltd. (LATT), among other updates. LATIN AMERICA Colombia — Colombia’s Minister of Mines […]
Petrobras Inks Deal For Leasing Of Bahia LNG Terminal
(Petrobras, 28.Sep.2021) — Petrobras, following the release disclosed on 26 August 2021, signed with Excelerate Energy Comercializadora de Gás Natural Ltda. the lease contract of the LNG Regasification Terminal of Bahia (TR-BA) and associated facilities, in the amount of approximately R$102mn, effective until December 2023, in addition to other ancillary […]
Golden Arrow Drills Tierra Dorada Gold Project, Paraguay
(Golden Arrow, 28.Sep.2021) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) started a diamond drilling program of up to approximately 2,000 meters at the Tierra Dorada gold project in Paraguay. The program is mainly focused on follow-up drilling to better define the high-grade Alvaro target, in addition to several initial […]