(Argus, 11.Mar.2021) — Bolivia is laying out concrete plans for a hydrotreated vegetable oil (HVO) diesel plant that it hopes will replace 40pc of conventional diesel imports. Hydrocarbons minister Franklin Molina told Argus that the government has finished conceptual engineering for the 8,200 b/d project and wants a front-end design […]
Category: Latin America and the Caribbean
Guyana Still Searching For Oil Marketer
(Argus, 11.Mar.2021) — Guyana is preparing a revised tender to market its crude entitlement from the ExxonMobil-operated deepwater Stabroek block after cancelling an earlier request for proposals last month, natural resources minister Vickram Bharrat told Argus today. This will be the third effort by the new oil producer to find […]
Venezuela’s Stations Offer Fuel, Liquor
(Bloomberg, 11.Mar.2021) — Welcome to Venezuela’s new gasoline stations: They boast digital fuel pumps and high-end, imported liquor. They’re plastered in fresh coats of bright yellow and red paint. And in what’s become a rarity these days, they actually have gasoline to sell — for a price that very few can […]
EPM On Success Of Modular FACTS
(Smart Wires, 10.Mar.2021) — EPM innovates to serve their customers by investing in solutions that improve quality of life throughout their service territory. To fulfil this purpose, EPM announces its successful application of Modular FACTS (Flexible Alternating Current Transmission Systems). This places EPM at the forefront of the electricity sector […]
Argentina Torn Between Shale Dream And Climate Goals
(Bloomberg, 10.Mar.2021) — President Alberto Fernandez took to a makeshift stage in Argentina’s Vaca Muerta shale deposit in October to announce the nation was doubling down on fossil fuels. “Today we are relaunching the oil and gas economy,” he declared, starting with $5 billion of government subsidies. Two months later, […]
Quito Electric Inaugurates Pifo Substation
(Energy Analytics Institute, 10.Mar.2021) — The Quito Electric Company (EEQ) inaugurated substation (S/E) No. 46 Inga Bajo, located in the Itulcachi sector, in the rural parish of Pifo. The investment in the substation was $3.4mn. The project will contribute to energy development in Pifo, guarantee new connections, and supply industrial […]
Total To Continue Suriname Exploration
(Argus, 10.Mar.2021) — Total and Apache Corp. will continue their oil exploration program offshore of Suriname after ceasing drilling in one key test well upon facing “substantial pressure increases,” but only after they had already struck oil at shallower depths. The Total and Apache joint venture is attempting to turn […]
Talos Energy Announces 4Q:20 And YE:20 Results
(Talos, 10.Mar.2021) — Talos Energy Inc. announced its operational and financial results for the fourth quarter and full year 2020. The company also announced its year-end 2020 reserves figures as well as 2021 operational and financial guidance. Key Highlights – Fourth Quarter 2020: Production of 59.4 thousand barrels of oil […]
Talos Energy To Host 4Q:21 Conference Call
(Talos, 10.Mar.2021) — Talos Energy Inc. will host a conference call, which will be broadcast live over the internet, on Thursday, 11 March 2021 at 10:00 AM Eastern Time (9:00 AM Central Time). CONFERENCE CALL AND WEBCAST INFORMATION Listeners can access the conference call live over the Internet through a […]
Mexican Electric Law Temporarily Cut
(Argus, 11.Mar.2021) — A court temporarily suspended Mexico’s new electricity law yesterday, a day after it took effect, signaling the start of a wave of litigation against the controversial reform. “While this interim relief was requested by one company, it will have general effect,” stated a Mexico City court judgment […]
Ecuador Eyes Conolophus Photovoltaic Project
(Energy Analytics Institute, 5.Mar.2021) — Ecuador plans to install 14.8 megawatts (MW) of photovoltaic generation with 40.9 MWh batteries on Santa Cruz Island with estimated private investment of $45mn. Companies interested in development of the Conolophus photovoltaic project on the Galapagos Islands have until end of day 5 March 2021 […]
Exxon’s Bulletwood-1 Finds Non-Commercial Volumes
(Westmount Energy, 4.Mar.2021) — Westmount Energy Limited, the AIM-quoted oil and gas investing company focused on the Guyana-Suriname Basin reports that, further to its announcement on 2 March 2021, it has received a shareholder communication from its investee company, JHI Associates Inc., which confirms that the first well on the […]
Kootenay Commences Drilling In Mexico
(Kootenay Silver, 3.Mar.2021) — Kootenay Silver Inc. announced that a 5,000-meter core drilling program has commenced at the Columba silver project, located in Chihuahua State, Mexico. The Program will focus on step out and infill drilling on impressive results to date in the high-grade F-vein and its associated hanging wall […]
Prospects For Synergies Between Guyana, Suriname
(Stabroek News, 3.Mar.2021) — A letter to the editor of Stabroek News about establishment of the Guyana-Suriname Commission. Dear Editor, The proposed establishment of the Guyana-Suriname Commission to focus on the economic, social and cultural development of both countries is indeed a timely initiative. The recent discovery of mega oil […]
Exxon Vows To Lift Returns
(Bloomberg, 3.Mar.2021) — Exxon Mobil Corp. pledged to boost the S&P 500 Index’s third-largest dividend and end two years of cash burn by bringing on high-profit oil and chemical projects while trimming expenses. Exxon’s developments in Guyana and the U.S. Permian Basin will generate 10% returns even if crude dips […]
Frontera Reports YE:20 Reserves
(Frontera, 3.Mar.2021) — Frontera Energy Corporation announced the results of its annual independent reserves assessment conducted by DeGolyer and MacNaughton (D&M). All dollar amounts in this news release and the Company’s financial disclosures are in United States dollars, unless otherwise noted. Richard Herbert, Chief Executive Officer, commented: “In 2020, Frontera […]
Frontera Announces CEO Succession
(Frontera, 3.Mar.2021) — Frontera Energy Corporation announced the appointment of current director Orlando Cabrales Segovia as Chief Executive Officer. The company also provided an update on its 2021 Strategic Plan, including its growth opportunity in Guyana, its full year 2021 guidance, and its plans to implement a normal course issuer bid […]
Petrobras On Board Member Pietro Antonelli’s Decision
(Petrobras, 3.Mar.2021) — Petrobras, regarding the piece of news published in the media, clarifies that the Board Member Leonardo Pietro Antonelli informed the company that he does not intend to be reappointed as a nominee by the controlling shareholder at the next Extraordinary General Meeting, to be convened for the […]
Sungrow Launches 75 kW String Inverter In Brazil
(Sungrow, 2.Mar.2021) — Sungrow, the global leading inverter solution supplier for renewables, rolled out the Company’s latest commercial string inverter SG75CX for Brazilian micro-generation power plants, showcasing the Company’s continued commitment to comply with the regional power demand and decarbonize the local economy. The Brazilian solar market has not been […]
Nextracker To Supply Smart Solar Trackers In Brazil
(Nextracker, 2.Mar.2021) — Nextracker™, a Flex company, announced that it has been selected by leading Brazilian EPC firm Andrade Gutierrez and developer Elera Renováveis (formerly Brookfield Energia Renovável) to supply 830 MW of its world-leading solar tracker technology, NX Horizon™ for Phase I of the Janaúba solar complex located near the city […]
Petrobras On Board Member Decisions
(Petrobras, 2.Mar.2021) — Petrobras following up on the releases disclosed on 19 and 23 February 2021 announces it was informed by the Board Members João Cox Neto, Nivio Ziviani, Paulo Cesar de Souza e Silva and Omar Carneiro da Cunha Sobrinho that they do not intend to be reappointed to […]
Venezuela’s Oil Exports Rose In February: Data
(Reuters, 1.Mar.2021) — Venezuela’s oil exports rose in February to over 700,000 barrels per day (bpd), their highest level in 10 months, pushed by more sales of fuel oil cargoes to new clients in Asian markets, according to Refinitiv Eikon’s tanker tracking data and documents. A growing number of clients […]
Investor’s Fear Colombia Pressured Ecopetrol
(Bloomberg, 28.Feb.2021) — The deal, as investors from Bogota to New York see it, has all the markings of a cash-strapped federal government forcing a state-run company to bail it out. Ecopetrol SA, Colombia’s biggest oil company, would hand over about $4 billion to the government in exchange for control […]
![Borr Drilling’s Fleet Status Report [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/02/Screenshot_2021-02-26-a7966265c6e9db45-pdf.png)
Borr Drilling’s Fleet Status Report [PDF Download]
(Energy Analytics Institute, 26.Feb.2021) — Borr Drilling Limited provided a fleet status report through 26 February 2021. The update can be found here. ____________________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Borr Drilling Reveals Preliminary 4Q:20 Results
(Borr Drilling, 26.Feb.2021) — Borr Drilling Limited announces unaudited results for the three and twelve months ended December 31, 2020. Highlights in the Fourth Quarter of 2020 Total operating revenues of $60.2mn, net loss of $46.7mn and Adjusted EBITDA of $6.6mn for the fourth quarter of 2020. On 5 October […]
Petrobras Inks Contract To Divest Mangue Seco 2
(Petrobras, 26.Feb.2021) — Petrobras, following up on the release disclosed on 05/04/2020, informs that it signed today with Fundo de Investimento em Participações Multiestratégia Pirineus (FIP Pirineus), a contract for the sale of its entire 51% interest in the capital of Eólica Mangue Seco 2 – Geradora e Comercializadora de […]
![Pemex’s 4Q:20 Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2021/03/header-2021-03-05-Resultados-preliminares-al-31-de-marzo-de-2020-Webcast-4Q20-pdf.png)
Pemex’s 4Q:20 Results [PDF Downloads]
(Energy Analytics Institute, 26.Feb.2021) — Mexico’s state oil and gas entity Pemex provided operational and financial details related to its fourth quarter 2020. What follows are select company reports. ____________________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Apache Updates On Suriname Drilling Program
(Energy Analytics Institute, 26.Feb.2021) — Apache Corporation provided an update in its annual 10-K report (thru year-end 2020) on its operations in Suriname in South America where it is active offshore on Block 58 with France’s Total S.A. Highlights In December 2019, Apache entered into a joint venture agreement with […]
Debt And Doubt: The Suriname Oil Tale
(The Jamaica Gleaner, 26.Feb.2021) — Located in the northeastern rump of South America, Suriname is one of the three countries known as the Guianas. The other two are Guyana and French Guiana. Guyana was originally known as British Guiana, and Suriname was Dutch Guiana. In reality, there were five original […]
SBM Offshore Awarded LOI For Almirante Tamandaré
(SBM Offshore, 25.Feb.2021) — SBM Offshore signed a Letter of Intent (LOI) together with Petróleo Brasileiro S.A. (Petrobras) for a 26.25 years lease and operate contract for the FPSO Almirante Tamandaré, to be deployed at the Búzios field in the Santos Basin approximately 180 kilometers offshore Rio de Janeiro in […]
Pemex To Host 4Q Conference Call
(Energy Analytics Institute, 25.Feb.2021) — Mexico’s state oil giant Petróleos Mexicanos (Pemex) will host its fourth quarter and year-end 2020 conference call on 26 February 2021. To sign up to listen to the broadcast, follow this link. ____________________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Petrobras Inks LOI 6th FPSO For Búzios Field
(Petrobras, 24.Feb.2021) — Petrobras today signed a letter of intent with SBM Offshore for the chartering and provision of services for the FPSO – floating production storage and offloading unit – Almirante Tamandaré, to be installed in the Búzios field, located in the Santos Basin pre-salt area. The FPSO will […]
Petrobras Inks Deal For Sale Of Miranga Cluster
(Petrobras, 24.Feb.2021) — Petrobras, following up on the release disclosed on 04/03/2018, signed today with SPE Miranga S.A., a wholly owned subsidiary of PetroRecôncavo S.A., a contract for the sale of its total stake in nine onshore exploration and production fields, called Miranga Cluster, located in the state of Bahia. […]
![Petrobras Tax Report 2020 [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/02/header-2021-02-27-D974_Relatorio-Fiscal-2020_-versao-ingles.png)
Petrobras Tax Report 2020 [PDF Download]
(Petrobras, 24.Feb.2021) — Petrobras CEO Roberto Castello Branco provides comments from senior management on 2020 in the company’s year-end tax report. Petrobras and society witnessed an unprecedented crisis, which affected all of us in 2020. In line with our commitment to people, the environment and security, we are engaged in […]
Petrobras BOD Approves CDMPI Incorporation
(Petrobras, 24.Feb.2021) — Petrobras informs that its Board of Directors, in a meeting held today, approved the proposed incorporation of Companhia de Desenvolvimento e Modernização de Plantas Industriais (CDMPI). The incorporation aims at simplifying and optimizing the corporate structure of Petrobras. Since this is an incorporation of a wholly-owned subsidiary, […]
Petrobras Comments On News Published In Media
(Petrobras, 24.Feb.2021) — Petrobras, in clarification to a piece of news published in the media, informs that the Board of Directors requested the Chief Financial and Investor Relations Officer, Andrea Marques de Almeida, to seek with the Ministry of Mines and Energy, information about the existence of facts that should […]
Petrobras Charters 6th Module Of Búzios
(Petrobras, 24.Feb.2021) — Petrobras today signed a letter of intent with SBM Offshore for the chartering and provision of services for the FPSO – floating production storage and offloading unit – Almirante Tamandaré, to be installed in the Búzios field, located in the Santos Basin pre-salt area. The FPSO will […]
Chinese Loans To LatAm Plunge As Virus Strains Ties
(AP, 24.Feb.2021) — It seemed like a match made in finance heaven. In 2010, China, its economy roaring and state companies looking to expand globally, set its eyes on Latin America, a region starved of capital but rich in natural resources the Asian giant lacked. The result: a record US$35 […]
Ecopetrol Earnings Results Call Transcript For 4Q:20
(Seeking Alpha, 24.Feb.2021) — Colombia’s Ecopetrol S.A. announced results of operations for the fourth quarter of 2020. Details from the related earnings conference call held on 24 February 2020 follow: Company Participants Felipe Bayón – CEO Alberto Consuegra – COO Jaime Caballero – CFO Milena López – Director, Strategy and […]
Apache Eyes Suriname FID In 2021, First Oil By 2025
(Energy Analytics Institute, 24.Feb.2021) — Apache Corporation announced it is targeting a final investment decision (FID) by year-end and first oil flows by 2025 from its project offshore Suriname on Block 58 with France’s Total. Houston-based Apache achieved an 100% exploratory success rate on Block 58 during its 2020 drilling […]
Petrobras’ BODs Approves R$10.3bn Dividend
(Petrobras, 24.Feb.2021) — Petrobras, informs that its Board of Directors, at a meeting held today, approved dividends to shareholders based on the 2020 annual results in the amount of R$10.3bn, corresponding to R$0.787446 per common and preferred share. This value is equivalent to 5% of the share capital, applied to […]
Moody’s On Govt Intervention At Petrobras
(Reuters, 24.Feb.2021) — Brazilian President Jair Bolsonaro’s decision to replace the head of state-run oil giant Petrobras threatens the government’s privatization program and potentially the economy’s medium-term growth prospects, ratings agency Moody’s warned on Wednesday. “The greatest risk to Brazil’s sovereign credit profile is a confidence shock that leads to […]
Ecopetrol Adopts Measures For Shareholder’s Meeting
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. reports that in order to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendency of Colombia (SFC for its Spanish acronym) (E.C. 029 of 2014), the Board of Directors of Ecopetrol S.A. approved […]
Venezuela Ships Jet Fuel to Iran In Exchange For Petrol
(Reuters, 23.Feb.2021) — Venezuela is shipping jet fuel to Iran in return for vital gasoline imports for the South American nation as part of a swap deal agreed by the two state-run oil firms, three people with knowledge of the matter told Reuters. Iran has ramped up assistance to Venezuela […]
Ecopetrol’s Annual General Meeting
(Ecopetrol, 23.Feb.2021) — The Chief Executive Officer of Ecopetrol S.A. hereby summons all Shareholders to the Annual General Shareholders’ Meeting to be held remotely on Friday, 26 March 2021, starting at 9 a.m. The agenda for the meeting will be: Safety guidelines Quorum verification Opening by the Chief Executive Officer […]
Petrobras’ Political Risk Raises Uncertainties
(Fitch, 23.Feb.2021) — The request to replace Petroleo Brasileiro S.A.’s (Petrobras, IDR BB-/Negative) CEO made by the Brazil’s Ministry of Mines and Energy is viewed by Fitch Ratings as raising uncertainties for the ethanol sector whose price dynamics are strongly correlated with Petrobras’ pricing policy. The government influence on Petrobras’ […]
Ecopetrol: 2020 Earnings Distribution Proposal
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. hereby informs of the company’s 2020 earnings distribution proposal, approved by its Board of Directors, which will be submitted for the consideration of the General Shareholders Meeting that will take place on 26 March 2021: The earnings distribution project proposes, in line with the company’s […]
Ecopetrol Reports 4Q:20 And YE:20 Results
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. reported today the financial results of the Ecopetrol Group for the fourth quarter and the cumulative results for 2020, prepared in accordance with the International Financial Reporting Standards applicable to Colombia. * Excluding the effect of expenses associated to the Voluntary Retirement Plan, EBITDA amounts […]
Ecopetrol Minority Owners Nominate Candidate
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. informs that in accordance with the subscription of the Declaration of the Nation as majority shareholder and the established procedure, the representatives of the minority shareholders deposited with Ecopetrol an agreement whereby they agreed to nominate Dr. Carlos Gustavo Cano Sanz as their candidate to […]
Ecopetrol Adopts Measures For Shareholders’ Meeting
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. reports that in order to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendency of Colombia (SFC for its Spanish acronym) (E.C. 029 of 2014), the Board of Directors of Ecopetrol approved the […]