(Reuters, 8.Apr.2021) — A floating facility off the Venezuelan coast has finished offloading crude stored in it for the past two years due to U.S. sanctions, paving the way for output to resume in an oilfield, an official of the facility’s operator said on Thursday. Operations to remove crude from […]
Category: Latin America and the Caribbean
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 […]
A Role For Gas In Renewables-rich Brazil
(Shell, 8.Apr.2021) — Brazil boasts one of the world’s most enviable bounties of renewable power – it is flush with hydroelectric, wind and solar resources. But adverse weather like droughts can reduce supply from hydroelectric plants, which account for roughly two-thirds of the power grid’s output. Now the country is […]
Destruction Of The Downstream TT Sector
(Trinidad Guardian, 7.Apr.2021) — On April 1 Methanol Holdings (Trinidad) Ltd announced that it had taken a decision to immediately shut down its M4 and M5000 methanol plants in Point Lisas, with the latter being the largest methanol plant in the country and the world. According to MHTL the decision […]
Gold Port Says Drill Program Advances
(Gold Port Corporation, 7.Apr.2021) — Gold Port Corporation is providing a corporate update on its operations in Guyana. Groete Gold Copper Project Drill Program Camp expansion at the company owned Groete Gold Copper Project, located in Guyana, has been completed and the work site is now prepared for a phase […]
Petrobras Pushes Back Mero-1 Start-Up
(Petrobras, 7.Apr.2021) — Petrobras informs that the production expected to start from Mero 1, through FPSO Guanabara, was postponed from the 4th quarter of 2021 to the 1st quarter of 2022. The FPSO will be installed in the Mero field, which belongs to the Libra Block, in the Santos Basin […]
Petrobras Boosts Investments In Northern Brazil
(Petrobras, 6.Apr.2021) — Petrobras announces that it signed agreements with BP Energy do Brasil Ltda (BP) to take over BP’s entire stakes in six blocks, located in ultra-deep water in northern Brazil, approximately 120 km from the state of Amapá, in a high-potential exploratory frontier on the Brazilian equatorial margin. […]
Colombia Oil Workers Join Anti-Fracking Campaign
(Reuters, 6.Apr.2021) — Colombia’s largest oil union has joined anti-fracking activists to oppose the development of non-conventional energy deposits and demand a quicker transition to renewable energy, campaigners said on Tuesday. The Petroleum Industry Workers Union (USO) and the Colombia Free from Fracking Alliance said in a joint statement they […]
LatAm Briefs: Venezuela’s 7+7 Quarantine, Elections In Peru
(Energy Analytics Institute, 5.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: Venezuela’s President Nicolas Maduro announces the start of another 7+7 quarantine rotation and Peru eyes presidential elections on 11 April 2021. Venezuela Starts Another 7+7 Quarantine Rotation Oil producer Venezuela will start another so-called radical […]
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, EcopaĂs, 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 […]
Petrobras To Boost Natural Gas Price For Distributors
(Petrobras, 5.Apr.2021) — Petrobras informs that as of 1 May 2021, the natural gas sale prices for distributors will increase, by 39% in R$/m3, in relation to the last quarter. Measured in US$/MMBtu, the increase will be 32%. The variation results from the application of the supply contract formulas, which […]
LatAm Briefs: Biking Cuts Emissions, Reficar Case Ruling
(Energy Analytics Institute, 4.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: biking reducing transport emissions by 67% and Colombia’s comptroller general preparing a tax ruling for the Reficar case. Biking Reduces Transport Emissions By 67% Switching from the car to the bicycle reduces transport emissions by […]
More Pain For Trinidad’s Gas Sector
(Trinidad Express, 2.Apr.2021) — A new wave of natural gas pain hit Trinidad and Tobago yesterday. The pain came when the country’s largest producer of methanol, the Switzerland-headquartered Proman group, announced it was idling its M4 and M5000 methanol plants on the Point Lisas Industrial Estate effective immediately. In a […]
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 […]
Petrobras Adopts Cautious Fuel Price Approach
(Petrobras, 2.Apr.2021) — Petrobras, regarding the pieces of news published in the media, clarifies that it chose to adopt a more cautious approach in January 2021 and accelerated the fuel prices adjustments in February 2021, when the company became confident that oil and fuel prices would stabilize at a higher […]
NGC And MTHL Gas Sale Contracts Expire
(NGC, 1.Apr.2021 — NGC advises that effective 1 April 2021, one of the gas sales contracts between The National Gas Company of Trinidad and Tobago Limited (NGC) and Methanol Holdings (Trinidad) Limited has expired. Regrettably, and despite NGC’s best efforts, no agreement was reached with MHTL on the terms for […]
Shell Updates On South American Assets In Annual Report
(Shell, 1.Apr.2021) — Shell provided details in its 2020 annual report related to its operations in South America from Argentina, Brazil and Bolivia. What follows is a summary from the report. South America Argentina We have more than 178 thousand net mineral acres in the Vaca Muerta Basin, a liquids- […]
LatAm Briefs: Point Lisas’ Slide, Añelo Petrol Station
(Energy Analytics Institute, 1.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: halting the slide a Point Lisas in Trinidad and YPF inaugurating a new petrol station in Añelo in the heart of the Vaca Muerta formation. Point Lisas Slide Can Be Halted: Ramnarine “The slide of […]
Petrobras Reports Rise In S-10 Diesel Sales
(Petrobras, 1.Apr.2021) — Petrobras informs that in March it recorded total diesel sales in the amount of 791 thousand bpd, representing growths of 35% and 17% when compared to sales in the same month of 2020 and 2019, respectively. Also in March 2021, Petrobras surpassed the sales record for S-10 […]
Petrobras Completes Health Plan Transition
(Petrobras, 1.Apr.2021) — Petrobras, following up on the release disclosed on 29 April 2020, informs that the transition of Petrobras health plan operation was completed. As of April, the Petrobras Health Association (APS) takes over the operation of this benefit, becoming responsible for caring for nearly 280,000 beneficiaries throughout Brazil. […]
Cayman Islands Elections: Report
(Energy Analytics Institute, 31.Mar.2021) — “Determining the appropriate policy reforms to sustainably improve the socio-economic trajectory of the best-run country in the Caribbean, must feel like figuring out what gift to buy for someone who already has everything,” announced Caribbean economist Marla Dukharan in her Caribbean Monthly Economic Report released […]
Brazil’s 1P Reserves Decline In 2020
(Energy Analytics Institute, 31.Mar.2021) — Brazil’s crude oil and natural gas reserves fell in 2020 across 1P, 2P and 3P categories, according to details published by the country’s National Agency of Petroleum, Natural Gas and Biofuels (ANP by its Portuguese acronym). In 2020, Brazil’s proven 1P oil reserves were 11.89 […]
LatAm Briefs: Argentine Wages Issues, Pereyra To Step Down
(Energy Analytics Institute, 31.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Argentine oil workers threaten to strike in Vaca Muerta over wages, and Argentine oil union head Guillermo Pereyra to finally step down. Oil Workers Threaten Strike In Vaca Muerta Over Wages Argentina’s oil union led […]
Jair Bolsonaro Sparks Political Crisis
(Reuters, 30.Mar.2021) — Brazil will replace the three heads of its armed forces, the Defense Ministry said on Tuesday, as Latin America’s biggest nation, already roiled by the pandemic, faced a growing crisis between President Jair Bolsonaro and the military. The departure of Brazil’s three top military commanders comes a […]
LatAm Briefs: Argentina’s IMF Payments, Odebrecht Arrest Warrants
(Energy Analytics Institute, 30.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina only paying the IMF around $3.1bn in interest and arrest warrants being issued for three former Odebrecht executives. Argentina Has Only Paid The IMF $3.1bn In Interest Argentina has paid the International Monetary Fund […]
LatAm Briefs: Russia, Venezuela Boost Ties; YPF Meeting
(Energy Analytics Institute, 30.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Russia and Venezuela strengthening their cooperation and Argentina’s state oil producer YPF eyeing shareholders’ meeting on 30 April 2021. Russia And Venezuela Strengthen Cooperation A Russian-Venezuelan high-level intergovernmental commission (CIAN by its Spanish acronym) signed […]
LatAm Briefs: Robots On Platforms, Oil Union vs. Shell Argentina
(Energy Analytics Institute, 30.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: the calculated oil industry wage savings from using robots on platforms instead of humans and a commission in Argentina that will likely decide a conflict between the country’s oil union and Shell. Oil Industry Savings […]
How Pemex’s Wings Got Clipped
(Reuters, 30.Mar.2021) — Shortly before taking office late in 2018, President Andres Manuel Lopez Obrador vowed to boost crude oil production at Mexican giant Pemex by nearly half, following more than a dozen years of decline. The ambitious goal of increasing the state-run company’s oil output from 1.8 million barrels […]
Ecopetrol On Shareholders’ Meeting
(Ecopetrol, 29.Mar.2021) — Ecopetrol S.A. announced that at the ordinary General Shareholders’ Meeting, held on 26 March 2021, the company’s Shareholders approved the following: 1. The earnings distribution proposal presented for their consideration, which establishes the distribution of an ordinary dividend per share of seventeen pesos (COP$ 17). The dividend […]
Promigas To Host Virtual Investor Day
(Promigas, 29.Mar.2021) — Promigas S.A. E.S.P. will host a virtual Investor Day event on 29 April 2021 from 9:30 a.m. to 12:00 p.m. Eastern Time (8:30 to 11:00 a.m. Bogota Colombia time). Promigas executives presenting during the event include President & Chief Executive Officer Eric Flesch, Legal and Sustainability Vice […]
ContourGlobal To Capture, Utilize CO2
(ContourGlobal, 29.Mar.2021) — ContourGlobal plc and Alpek, S.A.B. de C.V. formed a new company that is developing a CO2 capture and liquefaction facility for sale to the food, beverage, and medical industries. The facility will be integrated into ContourGlobal’s 420 MW Combined Heat and Power Plant located in Altamira, Mexico […]
Petrobras Dismisses HR Executive
(Petrobras, 29.Mar.2021) — Petrobras, regarding the pieces of news in the media, clarifies that today the Executive Manager of Human Resources was dismissed from the company for having failed to comply with the Policy of Disclosure of Material Act or Fact and of Securities Trading, which prohibits the negotiation of […]
Maduro’s Eyes Buying Vaccines With Oil
(Reuters, 28.Mar.2021) — Venezuelan President Nicolas Maduro on Sunday proposed paying for vaccines against the novel coronavirus with oil, though he provided few details about how such a scheme would work. The crisis-stricken OPEC nation’s crude exports have plummeted to their lowest levels in decades since Washington sanctioned state oil […]
Committee Named For ISA Valuation
(Ecopetrol, 26.Mar.2021) — Ecopetrol S.A. reports that its Board of Directors, within the context of the potential acquisition of the 51.4% of the outstanding shares currently owned by the Ministry of Finance and Public Credit in ISA, approved today the establishment of a Special Committee that will act as a […]
Sener To Decide On Zama Unitization
(Talos, 26.Mar.2021) — Talos Energy Inc. announced that the unitization process of the Zama field will enter its next phase, as established in Mexican regulation. The Mexican Ministry of Energy (“SENER”) is now required to propose finalized terms of a Unitization and Unit Operating Agreement (“UUOA”) based on international best […]
Lopez Obrador Eyes Oil Permits
(Reuters, 26.Mar.2021) — Lopez Obrador argues previous administrations skewed the energy market in favor of business interests and were intent on carving up national oil firm Petroleos Mexicanos (Pemex) and power utility the Comision Federal de Electricidad (CFE). His new initiative, a copy of which was seen by Reuters, set […]
LatAm Briefs: Petrobras Form 20-F, Ecopetrol Eyes Net Zero
(Energy Analytics Institute, 25.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Brazil’s Petrobras filing its Form 20-F for 2020 and Colombia’s Ecopetrol announcing its commitment and plans to achieve net zero carbon emissions by 2050. Petrobras files 2020 Form 20-F PetrĂłleo Brasileiro S.A. (Petrobras) filed its […]
Ecopetrol Eyes Net Zero Emissions By 2050
(Ecopetrol, 25.Mar.2021) — In line with its commitment to mitigate climate change, further the energy transition and its TESG agenda[1], Ecopetrol Group announces its goal of net zero emissions by 2050. Ecopetrol is the first company in the Oil and Gas industry in Latin America to establish this ambitious goal, […]
Kootenay Announces Drilling At Copalito Project
(Kootenay Silver, 25.Mar.2021) — Kootenay Silver Inc. announce that a 3,500-meter core drilling program has commenced at the Copalito gold and silver project, located in Sinaloa State, Mexico. The program will follow up the results of 40 shallow drill-holes totaling 4,153 meters completed in 2020, confirming gold and silver mineralization […]
Antonio Pinho Joins Excelerate In Brazil
(Excelerate Energy, 25.Mar.2021) — Excelerate Energy announced Antonio Pinho has joined the team as Commercial Director for Brazil. His addition comes as Excelerate continues to strengthen its position in South America to meet the growing demand for reliable energy in the region. Antonio joined the company on 4 March 2021, […]
Venezuela: “A Vision In Three Times”
(Energy Analytics Institute, 25.Mar.2021) — The webinar “Venezuela: a Vision in Three Times” on 25 March 2021 saw three speakers discuss the OPEC country’s oil sector. What follows are highlights from their discussion. Horacio Medina, the President of PDVSA’s Ad Hoc Board — “Venezuela’s state oil company PetrĂłleos de Venezuela […]
Petrobras On Arbitration Decision
(Petrobras, 25.Mar.2021) — Petrobras, following up on the releases disclosed to the market on 22 June 2020 and 11 November 2020, announces that it received, on this date, a decision from the Market Arbitration Chamber of B3 (MAC), which granted its challenge and dissolved the Arbitration Tribunal that rendered a […]
Bolivia, Germany Resume Talks Over Lithium Development
(Energy Analytics Institute, 24.Mar.2021) — Bolivia resumed negotiations with Germany for the industrialization of the South American country’s lithium reserves. Bolivia is also open to the possibility of the participation of other countries that offer better work and technology, according to reports 24 March 2021 in the daily newspaper La […]
Favorable Conciliation Deal Between Frontera, CENIT And Bicentenario
(Frontera Energy, 24.Mar.2021) — Frontera Energy Corporation, Cenit Transporte y LogĂstica de Hidrocarburos S.A.S. and Oleoducto Bicentenario de Colombia S.A.S. separately announced today that the Office of the Attorney General of Colombia (ProcuradurĂa General de la NaciĂłn) has delivered its opinion on the Conciliation Agreement between Frontera, CENIT and Bicentenario. […]
Barbados Implements IMF’s Enhanced General Data Dissemination System
(IMF, 24.Mar.2021) — Barbados has implemented the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS) by publishing essential data through the National Summary Data Page (NSDP). The e-GDDS was established by the IMF in 2015 to support improved data transparency, encourage statistical development, and help create synergies between […]
Key Petrobras Executives Set To Depart
(Petrobras, 24.Mar.2021) — Petrobras informs that Andrea Almeida, Chief Financial and Investor Relations Officer, Carlos Alberto Pereira de Oliveira, Chief Exploration and Production Officer, AndrĂ© Chiarini, Chief Trading and Logistics Officer, and Rudimar Chief Production Development Officer, informed today to the Board of Directors that they do not intend to […]
Heritage, EOG Ink Gulf Of Paria Deal
(Trinidad and Tobago Newsday, 24.Mar.2021) — Hailing a new deal for EOG Resources to explore for oil in the Gulf of Paria in a 14,000 hectare area owned by the State-run Heritage Petroleum Company, the Prime Minister urged more drilling in both sea and land areas so as to boost […]
Petrobras Inks Deal To Divest RLAM
(Petrobras, 24.Mar.2021) — Petrobras, following up on the release disclosed today, informs that it has signed a contract with MC Brazil Downstream Participações, a company of the Mubadala Capital group, for the sale of the company’s shares that will hold the Landulpho Alves Refinery (RLAM) and its associated logistics assets, […]
Petrobras On Samsung Leniency Deal
(Petrobras, 24.Mar.2021) — Petrobras, following up on the release disclosed on 03/01/2021, informs that it received last week the second, and last, installment, in the amount of $59.4mn, of the leniency agreement entered into by Samsung Heavy Industries. With these values, Petrobras surpasses R$ 5.7bn in funds recovered through collaboration, […]
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 […]