Latin America and the Caribbean Archives - Page 108 of 220

Orvana Completes Taguas Property Acquisition

(Orvana Minerals, 21.May.2021) — Orvana Minerals Corp. (TSX: ORV) completed the requisite steps to transfer ownership of the Taguas property to Orvana Argentina S.A., a wholly-owned subsidiary of the company. The Taguas acquisition is now complete. The Taguas property consists of 15 mining concessions over an area of 3,273.87 ha. […]

S&P Downgrades Ecopetrol Rating

(Ecopetrol, 21.May.2021) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, in line with the downgrade of the rating of the Republic of Colombia, the rating agency S&P Global Ratings downgraded the company’s credit rating from BBB- (negative outlook) to BB+ (stable outlook). S&P Global Ratings maintained Ecopetrol’s Stand-Alone rating […]

InvestChile’s E-Book On Green Energy Boom In Chile [PDF Download]

(InvestChile, 20.May.2021) — InvestChile, Chile’s foreign investment promotion agency, has just launched its new e-book on the energy market in this South American country, which contains all the information needed by foreign companies interested in investing in Chile’s energy industry. In recent years, the nation has experienced a green energy […]

Wall Street Giants Bet On Colombia Sinking Deeper Into Junk

(Reuters, 20.May.2021) — Wall Street banks predicted on Thursday that Fitch would downgrade Colombia’s credit rating to junk before the year is out and spark forced selling after a similar move by S&P Global Ratings on Wednesday. Colombia has come into focus after President Ivan Duque was forced to withdraw […]

Colombia Production Falls Below 700,000 B/D On Protests, Road Blockages

(Energy Analytics Institute, 19.May.2021) — Ongoing protests and road blockades in Colombia have caused more than 560,000 barrels of oil to stop being produced in the first two weeks of May 2021, the worst decline in terms of hydrocarbon production since 2009, the country’s Mines and Energy Minister Diego Mesa […]

LatAm Briefs: NGCs’ Methane Initiatives, Deloitte’s Decarbonization Challenge 2030

(Energy Analytics Institute, 19.May.2021) — Energy briefs from the Latin America and Caribbean region including: The National Gas Company of Trinidad and Tobago Limited (NGC)’s methane initiatives the Deloitte’s 2030 decarbonization challenge. [PDF Downloads] The National Gas Company’s Methane Initiatives [PDF Download] NGC revealed details about its methane initiatives and […]

NGC Joins Global Methane Partnership

(NGC, 19.May.2021) — The National Gas Company of Trinidad and Tobago Limited (NGC) has strengthened its proactive and assertive campaign to reduce its carbon impact by joining the global Oil and Gas Methane Partnership (OGMP). The OGMP is a comprehensive, measurement-based methane reporting framework that standardizes rigorous and transparent emissions […]

Colombia Briefs: Oil Production Impacts, Duque On Protests

(Energy Analytics Institute, 18.May.2021) — Energy briefs from the Latin America and Caribbean region including: Colombia’s President Iván Duque saying his government was pursuing national dialogue with the multiple groups involved in protests across the South American country, and ongoing protests in Colombia impacting on oil producers Gran Tierra and […]

US Oil Service Group Seeks $100mn From Mexico In Arbitration Claim

(Reuters, 18.May.2021) — A U.S. oil service group introduced a $100 million claim before a World Bank arbitration court alleging Mexico violated investor protections under the NAFTA trade pact by failing to honor agreements, lawyers for the firms and court documents showed. The World Bank’s International Centre for Settlement of […]

Gran Tierra Impacted By Protests And Blockades In Colombia

(Gran Tierra, 17.May.2021) — Gran Tierra Energy Inc. (NYSE American: GTE) (TSX: GTE) (LSE: GTE) announced an update on the impact of the ongoing national protests in Colombia on the company’s operations. All production volumes are unaudited and on a working interest before royalties (“WI”) basis and are expressed in […]

Protests In Colombia Impact GeoPark

GeoPark, 17.May.2021) — GeoPark Limited announced that ongoing protests in Colombia have impacted its production. Following a new tax reform proposal, a national strike started on 28 April 2021 with protests and demonstrations in major cities of Colombia. Despite the proposal being dismissed in early May, demonstrations continued and intensified […]

New Chinese Tax Narrows Venezuela’s Oil Export Options

(Argus, 17.May.2021) — A Chinese tax overhaul threatens to orphan up to 400,000 b/d of Venezuelan heavy sour crude that has been a lifeline for Caracas since the US imposed oil sanctions in 2019. Although Chinese companies moved away from directly lifting Venezuelan crude around August 2019, independent refiners regularly […]

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 […]

Exxon To Restart Gas Compressor At Guyana Platform In June

(Reuters, 14.May.2021) — Exxon Mobil Corp said on Friday it will reinstall a gas compressor at its Liza Destiny platform off Guyana’s coast in June, after an equipment failure last month prompted the company to slash output. The company said in a statement that its Liza-1 project was currently producing […]

Maduro Should Be Tried for Ecocide

(Foreign Policy, 14.May.2021) — It isn’t uncommon to hear charges of “genocide” leveled at the government of Venezuelan President Nicolás Maduro due to the humanitarian disaster unfolding in his country in the last few years. But now, a growing chorus has begun to blame Venezuela’s leadership with the crime of “ecocide”—or the […]

Petrobras’s 1Q:21 Earnings Call Transcript

(Motley Fool, 14.May.2021) — Brazil’s state oil and gas company Petrobras hosted its first quarter 2021 conference call. What follows is a complete transcript of the call. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Carla Dodsworth Albano Miller — Investor Relations Executive Manager Good morning, everyone. Welcome […]

Atlantic LNG’s Future Still Being Discussed

(Trinidad Guardian, 13.May.2021) — The future of Atlantic LNG’s operations and, more specifically, the status of Train 1 is still being discussed by stakeholders. This even though the National Gas Company of T&T Ltd (NGC) has already spent tens of million of dollars to restart the Train 1 plant. Minister […]

LatAm Briefs: Colombia Unrest, Argentina President In Europe, Pampa Webcast

(Energy Analytics Institute, 13.May.2021) — Energy briefs from the Latin America and Caribbean region including: ongoing national strike and protests in Colombia impacting fuel supply; Argentina’s President to meet with Kristalina Georgieva, head of the International Monetary Fund (IMF); and Pampa Energía S.A. hosting its 1Q:21 Webcast Colombian Protests Impacting […]

Petrobras On Record S-10 Diesel Sales

(Petrobras, 13.May.2021) — Petrobras reports that in April it registered total diesel sales of around 824,000 bpd, representing 59% growth in comparison with sales in April 2020. In the comparison with April 2019, without the impacts on demand resulting from the pandemic, there was a growth of 12%. Also in […]

LatAm Briefs: Green Hydrogen In Chile, ANP’s Green Diesel Resolution

(Energy Analytics Institute, 13.May.2021) — Energy briefs from the Latin America and Caribbean region including: Chile approving a first green hydrogen project and Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) approving a green diesel resolution. Chile Approves First Green Hydrogen Project Chile’s Environmental Commission for the Magallanes […]

Cuban Tanker En Route To Venezuela Reports Missing Sailor At Sea

(Reuters, 12.May.2021) — A crew member aboard a Cuba-flagged oil tanker on its way from a Mexican shipyard to Venezuela was reported missing this week, according to a shipping report seen by Reuters, marking the second incident aboard the same vessel in about a year. Sailor Rafael Desiderio Martinez Alonso […]

Pampa Energía Reports 1Q:21 Results

(Pampa Energía, 12.May.2021) — Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP), the largest independent energy integrated company in Argentina, with active participation in the country’s electricity and gas value chain, announces the results for the quarter ended on 31 March 2021. As of 1 January 2019, the company adopted US$ as […]

YPF Reports 1Q:21 Results [PDF Downloads]

(YPF, 12.May.2021) — Argentina’s state oil entity YPF announced financial and operating results for the first quarter 2021. Details follow. MAIN HIGHLIGHTS OF THE QUARTER • Strong recovery in profitability with Adjusted EBITDA expanding by 318% sequentially – and only 9.9% below 1Q20 -, mainly backed by a fast recovery […]

Invenergy, BW LNG Finish FSRU Financing

(Invenergy, 12.May.2021) — Global sustainable energy developer Invenergy and global liquefied natural gas (LNG) solutions provider BW LNG announced that they recently closed a $128.3mn financial package with IDB Invest to finance the special-built floating storage and regasification unit (FSRU) component of the Energía del Pacífico (EDP) LNG-to-power project in El Salvador. The financial package […]

YPF CEO Sergio Affronti On 1Q:21 Results: Transcript

(Seeking Alpha, 12.May.2021) — Argentina’s state entity YPF SA (NYSE:YPF) hosted a 1Q:21 earnings conference call with analysts on 12 May 2021. What follows is the transcript from the call. Company Participants Santiago Wesenack – IR Manager Sergio Affronti – CEO Alejandro Lew – CFO Conference Call Participants Guilherme Levy […]

Ecopetrol Names New Exploration VP

(Ecopetrol, 11.May.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announces that Jorge Arturo Calvache, Vice-President of Exploration has decided to retire as of 1 June 2021. The company acknowledges and thanks Jorge for his leadership and contribution managing Ecopetrol’s Exploration business during the past two years. In his replacement, Elsa Jeanneth […]

NGC And TRINGEN Ink Gas Sales Deal

(NGC, 11.May.2021) — The National Gas Company of Trinidad and Tobago Limited (NGC) signed a Gas Sales Agreement with Trinidad Nitrogen Company Limited (TRINGEN). TRINGEN, with two (2) ammonia plants and gas turbine power generation, is 51% owned by National Enterprises Limited (NEL) and49% by Yara Caribbean (2002) Ltd. It […]

BHP Awards McDermott FEED Contract for Trion FPU

(McDermott, 11.May.2021) — McDermott International, Ltd has been selected by BHP Petróleo Operaciones de México, S. De R.L. De C.V., in partnership with Pemex, to provide Front-End Engineering Design (FEED) of a Semi-submersible Floating Production Unit (FPU) for the Trion Project in the Gulf of Mexico. The FPU will be designed […]

Petrobras On Deal With Companhia De Eletricidade Do Amapá

(Petrobras, 11.May.2021) — Petrobras informs that it has signed with the Companhia de Eletricidade do Amapá (CEA), a legal agreement for the termination of litigation and credit recovery by Petrobras, recognized in the amount of R$314mn. The agreement establishes the payment to Petrobras of R$132.6mn unconditionally, to be settled in […]

Colombia’s Oil And Gas Production Down Sequentially In March 2021

(Energy Analytics Institute, 11.May.2021) — Colombia’s production of crude oil and natural gas moved downwards in March 2021 compared to the prior month, according to details provided by the country’s Mines and Energy Ministry. Gas Production Colombia’s commercialized gas production was 1.091 million cubic feet per day (MMcf/d) in March […]

Petrobras On TermoCamaçari Thermal Power Plant

(Petrobras, 11.May.2021) — Petrobras, following up on the release disclosed on 16 March 2021, informs that the negotiation with the company Proquigel Química S.A. for the leasing of the TermoCamaçari Thermoelectric Plant (UTE TermoCamaçari), located in the state of Bahia, has ended unsuccessfully. Thus, the company will begin the decommissioning […]

Venezuela Needs $58bn To Restore Oil Output To 1998 Levels-Document

(Reuters, 10.May.2021) — Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo Chavez came to power, equivalent to 3.4 million barrels per day (bpd), a document seen by Reuters shows. In the February 2021 document […]

Petrobras To Host 1Q:21 Results Webcast

(Energy Analytics Institute, 10.May.2021) — Petrobras will host two webcasts on 14 May 2021 to discuss its first quarter 2021 results. The first will be in Portuguese and the second in English, the company announced 10 May 2021 in an official statement. The state oil giant will use the Microsoft […]

Latin America and the Caribbean

Petrobras Divests Stake In Rabo Branco Field In Sergipe

(Petrobras, 10.May.2021) — Petrobras, following up on the release disclosed on 11 December 2020, signed with Petrom Produção de Petróleo & Gás Ltda. a contract for the sale of its entire 50% stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe. […]

Petrobras Inks Deal For 7th Búzios Unit

(Petrobras, 10.May.2021) — Petrobras signed a contract with Keppel Shipyard Limited to build the P-78, the seventh unit to be installed in the Búzios field, in the Santos Basin pre-salt area. With processing capacity of 180 thousand barrels of oil per day and 7.2 million cubic meters of gas per […]

Brazil LNG Demand Heading For Record Year

(Argus, 10.May.2021) — Brazil is on track to import a record volume of LNG this year because of persistent dry weather coupled with the commissioning of new LNG-to-power projects. As arid conditions dragged on into April, the electricity sector monitoring committee (CMSE) cleared the dispatch of thermoelectric plants and electricity […]

Colombia Production Down 2% On National Strike, Protests, Road Blockages

(Energy Analytics Institute, 10.May.2021) — An ongoing national strike, peaceful protests, social unrest and road blockages in Colombia have taken a toll on the country’s petroleum sector, including crude oil production and fuel consumption, in the first week on May 2021. Eleven Colombian departments are at high risk of gasoline […]

ExxonMobil Submits Application For Yellowtail Development Project

(Kaieteur News, 7.May.2021) — ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), has submitted an application to the Environmental Protection Agency (EPA) to undertake its fourth oil project, the Yellowtail Development Project, within the Stabroek Block offshore Guyana. According to the EPA, the proposed project will be implemented in […]

Atlas Executes 2nd Finance Project In Brazil

(Atlas Renewable Energy, 6.May.2021) — Atlas Renewable Energy obtained a $150mn loan from IDB Invest, a member of IDB Group, and from DNB Bank ASA (the largest financial services group in Norway) to finance the construction of its Lar do Sol – Casablanca project, a 359MWp solar project to be […]

Galileo Patagonia Fueling Station Provides Solution For Heavy Transport And NGVs

(Galileo, 5.May.2021) — The latest version of the Galileo Patagonia™ Smart Station for Liquefied to Compressed Natural Gas (LCNG) is an innovative solution that accelerates the expansion of ‘Alternative Fuels Corridors’ dedicated to all kinds of natural gas vehicles (NGVs). Its plug-and-play configuration and reduced physical footprint enable fueling stations […]

Ecopetrol CEO Felipe Bayón On 1Q:21 Webcast

(Seeking Alpha, 5.May.2021) — Colombia’s state oil company Ecopetrol S.A. (NYSE:EC) hosted its 1Q:21 results earnings conference call on 5 May 2021. The transcript follows. Company Participants Felipe Bayón – CEO Alberto Consuegra – COO Jaime Caballero – CFO Walter Canova – VP, Refining Milena López – Director, Strategy and […]

Talos Energy Announces 1Q:21 Results

(Talos Energy, 5.May.2021) — Talos Energy Inc. (NYSE: TALO) announced its operational and financial results for the first quarter of 2021. Key Highlights: Successful high-impact sub-salt Miocene deepwater exploration discovery at Puma West, located approximately 15 miles from the prolific Mad Dog field. Successful multi-well drilling program at Green Canyon […]

Braskem Reports 1Q:21 Operating Result

(Braskem, 5.May.2021) — Braskem S.A. (B3: BRKM3, BRKM5 and BRKM6;NYSE: BAK; LATIBEX: XBRK) announces its results for 1Q21. 1Q21 HIGHLIGHTS Braskem – Consolidated In 1Q21, the company’s recurring Operating Result was $1,266mn, 52% higher than 4Q20, mainly due to: (i) better spreads for PE, PP and main chemicals in Brazil, for PP in the United […]

LatAm Briefs: Venezuela Oil Output, Ecopetrol Tactical Hedges

(Energy Analytics Institute, 5.May.2021) — Energy briefs from the Latin America and Caribbean region including: Venezuela’s rising crude oil production and tactical hedges in place by Colombia’s Ecopetrol. Venezuela’s Oil Production Continues To Rise Venezuela’s crude oil production continues to rise despite US sanctions that impede it legally trading oil […]

LatAmNRG briefs: Ecopetrol results [PDF download]; roadblocks in Neuquén

(Energy Analytics Institute, 5.May.2021) — Energy briefs from the Latin America and Caribbean region including: Ecopetrol reporting strong 1Q:21 financial results [see enclosed PDF download] and a Chilean congressman expressing outrage related to ongoing roadblocks in Argentina’s Neuquén province. Ecopetrol Reports Strong 1Q:21 Financial Results [PDF Download] Colombia state-controlled oil […]

Former PDVSA Executive Ortega Gets Two Year Prison Sentence

(AP, 5.May.2021) — A former Venezuelan oil executive was sentenced to more than two years in prison for taking at least $12 million in bribes from businessmen who allegedly raided the coffers of the state-run oil company. Abraham Ortega is the first former Venezuelan official to be sentenced as part […]

Argentina’s Economy Buckles After Leader Puts Politics First

(Bloomberg, 4.May.2021) — In late March, Argentine President Alberto Fernandez sent his guy to Washington to smooth things over. With negotiations stalled, Economy Minister Martin Guzman had meetings with U.S. officials and the International Monetary Fund over its $45 billion loan. Back home, Fernandez’s populist vice president took to the […]

LatAm Briefs: Petrol Shortages In Cali, Salary Deal In Argentina

(Energy Analytics Institute, 4.May.2021) — Energy briefs from the Latin America and Caribbean region including: foodstuff and petrol shortages in Cali, Colombia and Argentine entities reaching a salary agreement. Foodstuff And Petrol Shortages In Cali Shortages of foodstuffs and petrol have been reported in Cali, Colombia as a result of […]

Colombian President Urges Dialogue

(Reuters, 4.May.2021) — Colombian President Ivan Duque said on Tuesday the government is ready for national dialogue after days of protests led to over 20 deaths and international concern about excessive use of force by police. The protests, set to continue on Wednesday, were originally called in opposition to the […]

PetroRio Eyeing Assets Beyond Petrobras’ Albacora Field-CEO

(Reuters, 4.May.2021) — Brazilian oil company PetroRio is still interested in acquiring the Albacora field in the Campos Basin from Petrobras, but is also eyeing other offshore assets, the company’s chief executive, Roberto Monteiro, said on Tuesday. The offer phase for Albacora is expected to be in July, Monteiro said […]