(Citgo, 22.Jul.2020) — PDV Holding, CITGO Holding, and CITGO Petroleum secured a swift and unanimous victory in the Delaware Supreme Court in the matter of […]
Category: Latin America and the Caribbean
PDV Holdings Releases First-Ever Annual Report
(Citgo, 22.Jul.2020) — PDV Holding, Inc., the indirect sole stockholder of Citgo Petroleum Corporation, issued its first-ever annual report detailing financial and operational performance in […]
Investors Want To Know: Colombia’s Negative Outlook
(Fitch Ratings, 22.Jul.2020) — Colombia’s sovereign metrics have deteriorated further since its April downgrade to ‘BBB-‘, underpinning the range of downside risks reflected in the […]
World’s Newest Oil Boom Is Facing A Major Problem
(Oilprice.com, 22.Jul.2020) — After a series of major offshore oil discoveries since 2015, with the largest ever made earlier this year, the tiny South American […]
BHP’s Ruby Project Moving Forward Offshore Trinidad
(Energy Analytics Institute, 21.Jul.2020) — The Ruby project offshore Trinidad & Tobago expects initial production in calendar year 2021, according to BHP. The project will […]
Wärtsilä To Deliver Storage System To US Virgin Islands
(Wärtsilä, 21.Jul.2020) — The technology group Wärtsilä has been awarded a contract to deliver a state-of-the-art power plant and energy storage system to the US […]
Global Gas Flaring At Levels Not Seen Since 2009
(World Bank, 21.Jul.2020) — Estimates from satellite data show global gas flaring increased to levels not seen in more than a decade, to 150 billion […]
Petrobras On VAT Tax In PIS/COFINS Calculation Basis
(Petrobras, 21.Jul.2020) — Petrobras informs that it has obtained a favorable and final decision from the Federal Regional Court of the 2nd Region in process […]
NGC And BHP Ink Ruby Field Gas Supply Deal
(NGC, 21.Jul.2020) — The National Gas Company of Trinidad and Tobago Limited (NGC) and BHP announced successful completion of negotiations of a Gas Sales Agreement […]
Venezuela’s Oil And Gas Sector Sees Worst Crisis
(Tradearabia News Service, 20.Jul.2020) — Venezuela’s oil and gas sector was already caught in a vicious cycle well before the Covid-19 outbreak created a world […]
Petrobras Concludes Divestment Of TAG
(Petrobras, 20.Jul.2020) — Petrobras, following up on the press release on 13 March 2020, entered into a share purchase and sale agreement, regarding its remaining […]
Fernandez To Creditors: ‘We Can’t Do Any More’
(FT.com, 19.Jul.2020) —Alberto Fernández, Argentina’s president, has made an impassioned appeal for the world to accept that — with an economy devastated by coronavirus — […]
Situation In Guyana Goes From Bad To Worse
(Forbes, 18.Jul.2020) — As I wrote earlier this month, the future of the nascent oil and gas industry in the South American nation of Guyana […]
Ecopetrol Says 2020 CAPEX To Be Between $3bn-$3.4bn
(Ecopetrol, 17.Jul.2020) — Ecopetrol S.A. informs that the Board of Directors approved a new organic investment plan for the Ecopetrol Group (GE) for an estimated […]
Tullow Peru Update: Blocks Z-67 And Z-68
(Tullow, 17.Jul.2020) — Tullow is also working closely with the government to secure additional licenses. The Marina-1, non-operated exploration well, drilled in block Z-38 offshore […]
CITGO Names Edgar Rincon COO, Executive VP
(Citgo, 17.Jul.2020) — The Board of Directors of CITGO Petroleum Corporation has appointed Edgar Rincon as Chief Operating Officer (COO) and Executive Vice President, reporting […]
Petrobras On Cumulative Vote Process For AGM
(Petrobras, 17.Jul.2020) — Petrobras, in compliance with article 30, item XXXIV of CVM Instruction 480/09, informs that it received from shareholders who jointly hold more […]
YPF Reports Early Exchange Offer Participation
(YPF, 17.Jul.2020) — YPF S.A. announced results of the Early Participation Date (as defined below) with respect to its previously announced exchange offer to exchange […]
Petrobras Informs On Vantage Arbitration Case
(Petrobras, 17.Jul.2020) — Petrobras, following up on the releases disclosed on 17 May 2019 and 21 June 2019, informs that, yesterday, the United States Court […]
Ocean Infinity Completes Offshore Project In Guyana
(Ocean Infinity, 16.Jul.2020) — Ocean Infinity, a marine robotics company, successfully completed its recent project for ExxonMobil, within the Stabroek block offshore Guyana. The project […]
Petrobras On OGCI’s Carbon Reduction Target
(Petrobras, 16.Jul.2020) — Petrobras informs that the Oil and Gas Climate Initiative (OGCI), an organization which Petrobras is a member, established a new collective target […]
Colombia Relaunches Bid Process For LNG Terminal
(Shearman & Sterling, 15.Jul.2020) — The Colombian government has issued a new timetable for the tender with respect to the design, construction and operation under […]
Ibitu Energia Plans $830mn In Renewable Investments
(Reuters, 15.Jul.2020) — Brazil’s Ibitu Energia, owned by U.S.-based asset manager Castlelake LP, plans to invest roughly 4.5 billion reais ($839.43 million) in renewable energy […]
Argentina Axes $2bn Vaca Muerta Gas Pipeline
(Energy Analytics Institute, 15.Jul.2020) — The Vaca Muerta gas pipeline, one of the most ambitious projects of the government of Argentina’s former President Mauricio Macri, […]
Delays Impact Guyana’s Payara-Pacora Project
(Rystad Energy, 15.Jul.2020) — The development of Guyana’s world-class deepwater oil resources in the Payara-Pacora project of its prolific Stabroek block, whose addition is set […]
Liza Unity Hull Arrives In Singapore
(Energy Analytics Institute, 15.Jul.2020) — The Liza Unity FPSO hull has arrived from China to the Keppel shipyard in Singapore where it will be fitted […]
Petrobras Divests Ponta Do Mel And Redonda Fields
(Petrobras, 15.Jul.2020) — Petrobras, following up on the release disclosed on 30 September 2019, informs that it has finalized today the sale of its entire […]
Visa Curbs On Guyanese “Undermining Democracy”
(US Treasury, 15.Jul.2020) — On 2 March 2020 the Co-Operative Republic of Guyana held national elections, but it has still not declared a winner. All […]
Sener To Boost Jobs During Salamanca Refinery Rehab
(Energy Analytics Institute, 15.Jul.2020) — Mexico’s Energy Secretariat anticipates a rise in the number of workers to be employed during the rehabilitation of the Salamanca […]
TermoCandelaria’s 2029 Senior Notes Solicitation
(TermoCandelaria, 14.Jul.2020) — TermoCandelaria Power Ltd, an electric power generation company in Colombia, which owns and operates a large portfolio of thermal power plants in […]
Petrobras On Production Record In Búzios
(Petrobras, 14.Jul.2020) — Petrobras reports that the platforms installed in the Búzios field (P-74, P-75, P-76 and P-77), in the Santos Basin pre-salt, reached new […]
Petrobras Concludes Renewable Diesel Tests
(Petrobras, 14.Jul.2020) — Petrobras informs that, on July 11th, it successfully concluded tests on an industrial scale for the production of renewable diesel. The tests […]
Petrobras Reduces Cost Of Post-salt Well Construction
(Petrobras, 14.Jul.2020) — Petrobras informs that in early July, it completed, in half the time, the construction of the 7 GLF 49H ESS offshore well, […]
Suriname Elects Santokhi As President, Brunswijk As VP
(Energy Analytics Institute, 14.Jul.2020) — Suriname elected Progressive Reform Party (VHP) front man Chan Santokhi as the country’s president and Ronnie Brunswijk, leader of the […]
New Players Help Maduro Evade Tanker Sanctions
(AP, 13.Jul.2020) — As U.S. sanctions scare away the world’s largest shippers from Venezuela‘s oil industry, new players are willing to brave the heightened risks and […]
US Ups Pressure To Push Venezuela Oil Exports To 0
(Oilprice.com, 13.Jul.2020) — The United States is pressing shippers, insurers, certification organizations, and flag states registering vessels not to work with Venezuela as the Trump […]
US Swaps Venezuelan Fuel Oil For Russian Products
(Oilprice.com, 13.Jul.2020) — The United States has been raising its imports of fuel oil from Russia over the past year and a half after the […]
New Players Emerge In Venezuela Amid Sanctions
(AP, 13.Jul.2020) — As U.S. sanctions scare away the world’s largest shippers from Venezuela’s oil industry, new players are willing to brave the heightened risks […]
Bolivia To Investigate YPFB Refining Transfers
(Energy Analytics Institute, 13.Jul.2020) — Ecuador ‘s transparency unit of the hydrocarbon ministry received a complaint that dates back and relates to the management of […]
Argentina’s YPF Announces Exchange Offering
(YPF, 13.Jul.2020) — Argentina’s state oil company YPF Sociedad Anónima announced 13 July 2020 changes to a debt exchange offering. The offering consists of the […]
Fitch Downgrades Suriname’s LT-FC IDR To ‘RD’
(Fitch Ratings, 13.Jul.2020) — Fitch Ratings has downgraded Suriname’s Long-Term Foreign-Currency (FC) Issuer Default Rating (IDR) to ‘RD’ from ‘C’. KEY RATING DRIVERS The downgrade […]
Suriname Elects New President Santokhi
(The New York Times, 13.Jul.2020) — Desi Bouterse has cast a long shadow over Suriname since its independence. Once a dictator, he returned as a […]
Vote Standoff Prolongs Guyana Uncertainty
(Argus, 13.Jul.2020) — Guyana’s political stalemate is prolonging uncertainty over the future management of the South American country’s fledgling oil sector, and raising the prospect […]
Ecuador Seeking New Oil-backed Loan From China
(Argus, 13.Jul.2020) — Ecuador’s austerity-minded government is in discussions with China to secure a new loan backed by oil sales. The fresh loan of at […]
Petrobras On Asphalt Sale By Reduc
(Petrobras, 13.Jul.2020) — Petrobras reports that its refinery in Duque de Caxias (Reduc), located in Rio de Janeiro, reached the mark of 16,773 tons of […]
PetroEcuador Continues With Elimination Process
(Energy Analytics Institute, 12.Jul.2020) — Technical staff with the Consortium Suez-Ecuambiente continues with previous work related to the export of hazardous waste from the Las […]
Recount Result: Guyana’s Only Democratic Solution
(OAS, 11.Jul.2020) — The Organization of American States (OAS) notes that the Chief Elections Officer of Guyana, in direct opposition to the instructions of the […]
Petrobras On Measures In Aviation Gasoline
(Petrobras, 11.Jul.2020) — Petrobras informs that it has decided, preventively, to interrupt supplying a specific imported batch of aviation gasoline after tests carried out at […]
Reliance To Load Venezuelan Oil In Fuel Swap Deal
(Sputnik, 10.Jul.2020) — India is one of the biggest buyers of Venezuelan oil in spite of US sanctions. Private Indian refiners Reliance Industries and Nayara […]
Ecuador seeks private investor to operate Esmeraldas refinery
(Piero Stewart, Energy Analytics Institute, 10.Jul.2020) — Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MERNNR) together with state controlled EP PetroEcuador plan to define […]