Category: Latin America and the Caribbean

Cox Energy Establishes IR Vice Presidency Office

  • 0

(Cox Energy, 16.Aug.2021) — Cox Energy América, S.A.B. DE C.V. (BIVA: COXA *, BMV: COXA *), the region’s only listed pure play photovoltaic renewable solar energy company, announces as part of its market communication strategy, and following best corporate practices, the establishment of the Investor Relations Vice President position, headed […]

Guyana-Suriname Basin OTC2021 Technical Panel Summary

  • 0

(Energy Analytics Institute, 16.Aug.2021) — Executives with ExxonMobil provided technical details of the company’s initial, current and planned activities in Guyana. What follows are excerpts from their presentations during the Offshore Technology Conference 2021 (16-19 August) in Houston, Texas. ExxonMobil, Audrey Varga — Outline of Guyana-Suriname exploration history: Standard Oil, […]

Guyana Contingent Attends #OTC2021

  • 0

(DPI, 16.Aug.2021) — This is Guyana’s second time participating at this international conference in Houston, Texas. The Government of Guyana through GO-Invest, is collaborating with several private sector organisations and businesses which comprises its delegation at OTC 2021. The contingent comprises: Vice President, Hon. Dr. Bharrat Jagdeo; Minister of Foreign […]

Venezuela Negotiations By Eric Farnsworth

  • 0

(AS/COA, 12.Aug.2021) — A new round of negotiations is set to start on Friday, August 13, in Mexico between representatives of the de facto regime of Nicolás Maduro and the interim administration of Juan Guaidó. This is not the first time negotiations have been attempted, and expectations for meaningful democratic progress are modest. AS/COA Vice President Eric Farnsworth breaks down […]

Pemex Halts Drilling At Valeriana

  • 0

(By Platts, Sheky Espejo, 12.Aug.2021) — Mexico’s state oil company Pemex has stopped drilling Valeriana 1, a high-temperature high-pressure appraisal well located in the state of Tabasco, after new interpretation of seismic studies led to a drastic modification in the design of the wells, the National Hydrocarbons Commission said Aug. […]

Guyana Creating New Authority For Oil Sector

  • 0

(Argus, 12.Aug.2021) — Guyana plans to create a new authority by the end of 2021 to regulate its growing hydrocarbon revenues and allow orderly and transparent management and development of the sector, President Irfaan Ali said. The petroleum commission will also insulate the sector “from undue political interference” and remove […]

Ecopetrol To Pay $3.7bn For ISA Stake

  • 0

(Ecopetrol, 11.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that on 11 August 2021, it signed the Inter-administrative Share Purchase Agreement with the Colombian Ministry of Finance and Public Credit (MHCP), through which the company agreed to acquire 569,472,561 shares of Interconexión Eléctrica S.A. ESP (ISA), equivalent to 51.4% of […]

Oceaneering Inks Survey Deal With EEPGL

  • 0

(Oceaneering, 10.Aug.2021) — Oceaneering International has been awarded a contract from Esso Exploration and Production Guyana Limited (EEPGL) to provide two surveys offshore Guyana.  The contract award covers a towed and autonomous underwater vehicle (AUV) geophysical survey and a shallow geotechnical survey off the coast of Guyana.   Oceaneering will use […]

Should NGC Buy Train 1?

  • 0

(Trinidad Express, 10.Aug.2021) — In its 2021 annual report, the T&T Government’s investment holdings company, National Enterprises Ltd (NEL) states that “the full impairment of the Train 1 plant at Atlantic LNG” resulted in the fair value of NEL’s shareholding in Train 1 being written down from the value of […]

LatAmBriefs: TGI Eyes Buenaventura LNG Import Project

  • 0

(Energy Analytics Institute, 9.Aug.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina fining Edesur and Edenor; Transportadora de Gas Internacional (TGI) eyes developing Colombia’s second liquefied natural gas (LNG) import project in Buenaventura; and more from Ecuador, Mexico and Venezuela. Argentina — Argentina’s National Electricity Regulatory […]

Colombia To Leverage Coal, Gas For Blue H2 By 2030

  • 0

(Argus, 9.Aug.2021) — Colombia has issued a draft roadmap for hydrogen development that would start by leveraging the country’s coal and natural gas resources for “blue” production before moving into green hydrogen derived from renewable energy in the next decade. “Blue hydrogen is a low-emissions alternative for the progressive transition […]

Guyana Receives Payment For 7th Oil Lift

  • 0

(MNR, 9.Aug.2021) — In keeping with the current administration’s commitment to transparency and accountability within the Petroleum Sector, the Government Guyana through the Ministry of Natural Resources is pleased to announce that the payment for Guyana’s seventh oil lift was received into the Natural Resources Fund Account. On July 3rd, […]

Three Studies That Made The Difference

  • 0

(Stabroek News, 8.Aug.2021) — To recap, this long-running series of Sunday Stabroek columns focusing on Guyana’s emergent oil and gas sector commenced just four months short of five years ago; on September 4, 2016! Introduction To recap, this long-running series of Sunday Stabroek columns focusing on Guyana’s emergent oil and […]

Raízen IPO To Accelerate Growth

  • 0

(Shell, 5.Aug.2021) — Shell Brazil Holding B.V., a subsidiary of Royal Dutch Shell plc marks the start of trading in shares of Raízen S.A., the renewable energy joint venture between Shell and Brazilian energy company Cosan, on the São Paulo Stock Exchange (B3), following the successful execution of an initial […]

Ecopetrol’s 2Q:21 Earnings Call Transcript

  • 0

(Motley Fool, 4.Aug.2021) — Colombia’s state oil giant Ecopetrol hosted its second quarter 2021 conference call to discuss operational and financial details. What follows is the transcript of the call. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning. My name is Hilda, and I will […]

Petrobras Hires JPMorgan To Sell Braskem Stake

  • 0

(Reuters, 5.Aug.2021) — Brazilian state-run oil firm Petroleo Brasileiro SA (PETR4.SA) has hired JPMorgan Chase & Co (JPM.N) as adviser to sell its stake in petrochemical company Braskem SA (BRKM5.SA), three sources familiar with the matter said. Earlier on Thursday, Petrobras executives said in a conference call with investors that […]

The bpTT Conundrum

  • 0

(Trinidad Guardian, 4.Aug.2021) — It was in 1973 that the world experienced the first oil-price shock. It was spurred by the Yom Kippur War in the Middle East in which the Americans and other Western countries supported Israel in its war against Egypt and Syria. This led to crude prices […]

Petrobras Beats Estimates

  • 0

(Reuters, 4.Aug.2021) — Brazil’s Petrobras beat second quarter profit estimates on Wednesday, as higher Brent prices, strong natural gas sales and relatively controlled expenses boosted the company’s bottom line. In an evening securities filing, Petroleo Brasileiro SA, as the company is formally known, reported a quarterly net income of 42.855 […]

NGC, MHTL Ink Gas Supply Contract

  • 0

(NGC, 4.Aug.2021) — The National Gas Company of Trinidad and Tobago Limited (NGC) signed a Consolidated Gas Supply Contract (CGSC) with Methanol Holdings (Trinidad) Limited (MHTL), part of the Proman family of companies. This contract will support operations at the MHTL Methanol Complex, which includes the mega-methanol M5 plant, one […]

Guyana Gets 15 Bids To Market Govt Crude

  • 0

(Reuters, 4.Aug.2021) — Guyana received bids from 15 different companies aiming to market the government’s share of the crude produced off the South American country’s coast, according to Guyana’s National Procurement and Tender Board Administration website on Wednesday. The government re-launched the search last month after a previous tender was […]

Argentina Local Debt Rollover Flops

  • 0

(Bloomberg, 4.Aug.2021) — Investors sent a warning message to Argentina’s Treasury on Tuesday night — don’t expect us to finance the government’s increased spending ahead of November’s midterm elections unless interest rates go up. The Treasury managed to roll over just 146.3 billion peso ($1.5 billion) in local notes in […]

Ecopetrol Reveals 2Q:21 Results

  • 0

(Ecopetrol, 3.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announced the Ecopetrol Group’s financial results for the second quarter and the first half of 2021. In words of Felipe Bayón Pardo, CEO of Ecopetrol: The strength of Ecopetrol Group’s results in the quarter and year to date, despite a challenging situation […]

Ecopetrol Q2 Profit Soars To $951mn

  • 0

(Reuters, 3.Aug.2021) — Colombia’s majority state-owned oil company Ecopetrol’s second-quarter net profit soared to 3.72 trillion pesos ($951 million), boosted by strong sales, the company said on Tuesday, compared with 25 billion pesos in the year-earlier period. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 9.43 trillion pesos, […]

Guyana Seeks To Amend Land Use Provisions

  • 0

(DPI, 3.Aug.2021) — The Government is seeking an amendment of the law which would give it greater control over the use of lands, both public and private, by petroleum operators. Minister of Natural Resources, Vickram Bharrat MP, introduced the desired revisions in the Petroleum (Exploration and Production) (Amendment) Bill 2021, […]

Brattle Welcomes Antitrust Expert

  • 0

(The Brattle Group, 2.Aug.2021) — The Brattle Group welcomed economist Veronica Irastorza as a new Principal in its global Antitrust & Competition practice, based in San Francisco. Ms. Irastorza brings deep expertise in antitrust, contract disputes, and damages to a broad range of matters in the energy industry, including regulation, planning, […]

Ecopetrol Submits Binding Offer For ISA

  • 0

(Ecopetrol, 2.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that during the meeting held on Friday 30 July 2021, its Board of Directors authorized the Legal Representative of the company to submit a binding offer to acquire the Ministry of Finance and Public Credit’s 51.4% stake of the outstanding shares of Interconexión Eléctrica S.A. E.S.P – […]

Ecopetrol Approved For $1.2bn Credit Line

  • 0

(Ecopetrol, 2.Aug.2021) — By means of Resolution 1824 of 30 July 2021, the Ministry of Finance and Public Credit authorized the execution of a contingent credit line (“Committed Credit Line”) up to an amount of $1.2bn for Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC). The proceeds from this facility may be […]

Eni Reveals New Oil Find Offshore Mexico

  • 0

(Eni, 2.Aug.2021) — Eni announces an oil find in Upper Miocene sequences on the Sayulita Exploration Prospect in Block 10 in the mid-deep water of the Cuenca Salina Sureste Basin, Offshore Mexico. According to preliminary estimates the new find may contain between 150 and 200Mboe in place. Sayulita-1 EXP, which […]

Santander Court Revokes Fine On Ecopetrol

  • 0

(Ecopetrol, 2.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) was notified of the decision issued by the Administrative Court of Santander that voided the 22 December 2011 and 8 August 2016 resolutions, respectively, through which the Ministry of Labor – Territorial Directorate of Santander, imposed a fine of sixteen million sixty-eight […]

Petrobras On Refinery Sales Deadlines

  • 0

(Petrobras, 30.Jul.2021) — Petrobras has celebrated a new addendum to the Term of Commitment to Cessation (TCC) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the discussions for the effective conclusion of the negotiation processes and to […]

YPF Announces Management Changes

  • 0

(Energy Analytics Institute, 30.Jul.2021) — Argentina’s state entity YPF Sociedad Anónima announced several changes in the first level of its senior management structure. YPF revealed the details on 30 July 2021 in an official statement, highlighting the following: — Designation of Mr. José Gustavo Medele as Services Vice President to […]

Petrobras Inks Deal To Divest Power Companies

  • 0

(Petrobras, 29.Jul.2021) — Petrobras, following up on the release disclosed on 11 September 2020, signed contracts for the sale of its 20% stakes 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. and GFM […]