(Hess, 25.Jan.2021) — Hess today announced a 2021 Exploration & Production capital and exploratory budget of $1.9bn, of which more than 80% will be allocated to Guyana and the Bakken. Net production is forecast to average approximately 310,000 barrels of oil equivalent per day in 2021, excluding Libya. Bakken net […]
Category: Latin America and the Caribbean
ProColombia Launches Nature Tourism Guides
(ProColombia, 25.Jan.2021) — ProColombia, the government entity in charge of promoting international tourism, foreign direct investment, non-mining energy exports and the country brand, is encouraging eco-conscious travelers to consider Colombia as their next international destination when planning 2021 vacations. To inspire travelers and educate them on the country’s efforts, Colombia […]
Three European Banks Stop Funding Trade Of Oil
(Al Jazeera, 25.Jan.2021) — BNP Paribas, Credit Suisse and ING have announced plans to exclude the problematic export from their trading activities in response to environmental criticisms. Several big European financial institutions — BNP Paribas, Credit Suisse and ING — have committed to halting the financing of the trade of […]
![Work At Dos Bocas Continues [PHOTOS]](https://energy-analytics-institute.org/wp-content/uploads/2021/01/dosb-source-sener-jan-22-c-1.jpg)
Work At Dos Bocas Continues [PHOTOS]
(Energy Analytics Institute, 23.Jan.2021) — Construction work at the Dos Bocas refinery in Mexico continues to move forward, announced Mexico’s Energy Secretariat Rocio Nahle. Nahle is seen here explaining work at the refinery to other energy sector workers while she also monitored the arrival of new equipment from state oil […]
PDVSA Says It Controls Gas Leak Along Anaco Pipeline
(Energy Analytics Institute, 23.Jan.2021) — Workers with PDVSA Gas, a subsidiary of Petróleos de Venezuela (PDVSA) controlled a gas leak in the Barbacoas sector of the city of Barcelona located in Anzoátegui state. The attack occurred along a section of a 26-inch diameter gas pipeline owned by PDVSA, which runs […]
China Buys Venezuelan Oil Doctored To Skirt Sanctions
(Bloomberg, 22.Jan.2021) — It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and sanctions include ship-to-ship transfers, shell companies and silenced satellite signals. But there’s another aspect to […]
Valor Econômico’s REFAP Figures Wrong: Petrobras
(Petrobras, 21.Jan.2021) — Petrobras, regarding the news published in the media, about Ultrapar Participações S.A.’s proposal to acquire Refinaria Alberto Pasqualini (REFAP), in Rio Grande do Sul, clarifies that the values published in the newspaper Valor Econômico are not correct. As disclosed on January 19, 2021, the company is in […]
Bankers ‘Bombard’ Guyana With Financing Plans
(Reuters, 21.Jan.2020) — As the former British colony begins its first significant oil production this year, it is wary of avoiding the mistakes made in oil-dependent economies such as Angola, Nigeria and its economically collapsing neighbor Venezuela. Winston Jordan, an economist and career public servant, also cited Guyana’s own history […]
Petrobras Comments On REFAP Sale
(Petrobras, 21.Jan.2021) — Petrobras, regarding the news published in the media, about Ultrapar Participações S.A.’s proposal to acquire Refinaria Alberto Pasqualini (REFAP), in Rio Grande do Sul, clarifies that the values published in the newspaper Valor Econômico are not correct. As disclosed on 19 January 2021, the company is in […]
Suriname Latest Big Oil Find As Industry Cuts Costs
(The New York Times, 20.Jan.2021) — The small South American country has become a hot prospect for oil companies looking to produce fossil fuels while spending less. The Atlantic waters off Guyana have become one of the world’s hottest oil-drilling zones. Now, international oil executives are looking at neighboring Suriname. […]
Vincent Pereira To Retire From BHP Trinidad
(BHP, 20.Jan.2021) — BHP announced today that, after 16 years of leadership as BHP’s Country Manager for Trinidad and Tobago, Vincent Pereira will retire, effective June 2021. Michael Stone, Operations Manager in Trinidad and Tobago, will succeed Vincent as Country Manager. Vincent joined BHP in 2005 and has more than […]
Ecopetrol Says Pipeline Theft Rose 46% Last Year
(Reuters, 20.Jan.2021) — Theft of crude oil from pipelines operated by Colombia’s state-controlled oil company Ecopetrol rose by 46% last year, driven by surging robberies along the Cano Limon-Covenas pipeline, a company spokesman said. On average, 2,638 barrels per day of oil were stolen last year, up from 1,806 bpd […]
US May Restore Venezuela Diesel Swaps, Ease Waiver
(Argus, 20.Jan.2021) — The new US administration is considering whether to reinstate Venezuelan crude-for-diesel swaps and ease a key sanctions waiver, but policy reversals alone would not be enough to meaningfully revive the Opec country’s oil production after years of neglect. At his senate confirmation hearing yesterday, secretary of state […]
OFAC Targets Individuals And Entities Helping Maduro
(Energy Analytics Institute, 19.Jan.2021) — US Treasury Department’s Office of Foreign Asset Control, or OFAC, slapped sanctions on three individuals, 16 companies and seven vessels for their alleged ties to networks trying to evade US sanctions imposed on Venezuela’s oil sector. The individuals targeted included Philipp Apikian, Alessandro Bazzoni, Francisco […]
Driller Stuns Creditors As Argentina’s Dollars Dwindle
(Bloomberg, 19.Jan.2021) — In the 99 years since it was founded to pump the oil fields of Patagonia, Argentine energy driller YPF SA has been whipsawed by countless booms and busts. If global oil markets weren’t collapsing, it seemed, then Argentina was mired in a debt crisis that was wreaking havoc on […]
FMC Updates 4Q:20 Outlook, Highlights Brazil, Argentina
(FMC, 19.Jan.2021) — FMC Corporation it is reducing its fourth quarter 2020 outlook. The company is proceeding through its quarterly close, and based on preliminary results expects fourth quarter revenue of approximately $1.15bn as compared with prior guidance of $1.23bn to $1.29bn, and fourth quarter adjusted EBITDA in the range […]
Ecopetrol On Sale Of Stake In Offshore Int’l Group
(Ecopetrol, 19.Jan.2021) — Ecopetrol S.A. signed a Share Purchase Agreement with De Jong Capital LLC, through one of its subsidiaries as buyer, pursuant to which Ecopetrol sold its 50% ownership interest in Offshore International Group (OIG). This divestment is the result of a successfully competed process between a number of […]
Trinidad To Relaunch Tender For Refinery
(Argus, 19.Jan.2021) — Trinidad and Tobago will seek new bids for its idle 165,000 b/d Pointe-a-Pierre refinery following the November 2020 collapse of a sale agreement with a labor union-owned company, energy minister Franklin Khan said today. A $700mn offer from Patriotic Energies and Technologies (PET) in 2019 was preferred […]
US Relations With Ecuador: Fact Sheet
(US State Department, 19.Jan.2021) — The United States sent a consul to Guayaquil, Ecuador, in 1825, and the U.S. Embassy in Quito opened in 1848. The United States and Ecuador share a history of partnership and cooperation, and have mutual interests in economic prosperity, democratic governance, regional security, environmental sustainability […]
Petrobras Comments On Refinery Divestments
(Petrobras, 19.Jan.2021) — Petrobras, regarding the news published in the media on the divestments progress of the refineries, clarifies: (i) the company has received a binding proposal for the sale of Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul, and is in the negotiation phase with Ultrapar Participações S.A.; […]
Treasury Targets Venezuelan Sanctions Evasion Network
(US Treasury, 19.Jan.2021) — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals, fourteen entities, and six vessels for their ties to a network attempting to evade United States sanctions on Venezuela’s oil sector. The illegitimate Maduro regime has continued to use Petroleos […]
Venezuela Orders Arrest Of New Citgo Board Member
(Reuters, 18.Jan.2021) — Venezuelan authorities issued an arrest warrant for a new member of the board of directors of U.S.-based refining firm Citgo Petroleum Corp named by the opposition this month, chief prosecutor Tarek Saab said on Monday. Saab said Jose Ramón Pocaterra was “illegally designated” to the board of […]
Entities Look To Press Biden On Venezuela Fuel Swaps
(Reuters, 18.Jan.2021) — Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. The Trump administration since the last quarter of 2020 has barred companies […]
Petrobras On Amendments To Deals With CADE
(Petrobras, 18.Jan.2021) — Petrobras in relation to the news published in the media clarifies that the company did not sign the amendment to the Commitment Agreement (“TCC”) signed with the Administrative Council for Economic Defense (CADE) for the refining market. The draft of the amendment was approved by CADE to […]
Petrobras Comments On New Pension Plan (PP-3)
(Petrobras, 18.Jan.2021) — Petrobras, following up on the release disclosed on 1 October 2020, informs that the Petros Deliberative Council and the company’s Board of Directors have approved a new version of the documentation for the opening of the Petros Plan 3 (PP-3) and migration process, after the conclusion by Petros […]
Shell Nigeria Gas Inks 20-Year Gas Distribution Deal
(Shell, 17.Jan.2021) — Leading domestic gas distribution company, Shell Nigeria Gas (SNG), has signed a 20-year agreement for the domestic distribution of gas to industrial customers and manufacturing plants in Lagos and Ogun States. In the new deal with the Nigerian Gas Marketing Corporation (NGMC), SNG will also extend its […]
Venezuela’s Maduro accuses US president Donald Trump of backing attacks on CRP
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 15.Jan.2021, Words: 169) — Venezuela’s leader Nicolás Maduro reiterated earlier claims that US President Donald Trump ordered the sabotage of the OPEC country’s Amuay and Cardón refineries in Punto Fijo. “Dozens of Venezuelan and Colombian mercenaries have been captured planning conspiracies against our […]
Exxon’s Hassa-1 Doesn’t Finds Hydrocarbons
(Energy Analytics Institute, 15.Jan.2021) — Texas-based ExxonMobil announced results of the Hassa-1 exploration well offshore Guyana in the Stabroek Block didn’t find hydrocarbons in the primary reservoir target. “The Hassa-1 exploration well in the Stabroek block did not encounter hydrocarbons in the primary target reservoirs,” an Exxon spokesperson told Energy […]
Petrobras Starts North Capixaba Binding Phase
(Petrobras, 15.Jan.2021) — Petrobras, following up on the press release disclosed on 29 September 2020, informs the beginning of the binding phase regarding the sale of the totality of its stakes in a set of four onshore field concessions, with integrated facilities, jointly named North Capixaba Cluster, located in the […]
Venezuela Eyes Private Cos Operating Oil Fields
(Reuters, 14.Jan.2021) — Venezuelan officials have met in recent months with small domestic oilfield contractors to propose letting them operate fields owned by state-owned PDVSA while pocketing part of the proceeds, according to six people with knowledge of the talks. The talks show President Nicolas Maduro, facing a collapse in […]
Panama Canal LNG Vessel Bottleneck Could Go Months
(Reuters, 14.Jan.2021) — Congestion delaying LNG shipments via the Panama Canal is expected to last through the peak demand winter months, traders close to the situation said, although the canal’s regulator said it had made changes to speed up transit. The price of liquefied natural gas (LNG) and shipping rates […]
Venezuela Creates Special Crisis Commission
(Xinhua, 14.Jan.2021) — Venezuela’s National Assembly on Thursday established a Special Commission for Dialogue, Peace and National Reconciliation, made up of ruling coalition and opposition legislators, to resolve the economic crisis generated by U.S.-led sanctions. “We made an effort so that all political forces… in the national parliament joined this […]
Total Announces Fourth Find In Suriname’s Block 58
(Total, 14.Jan.2021) — Total and Apache Corporation have made a new significant oil and gas discovery at the Keskesi East-1 well, in Block 58 off the coast of Suriname. This follows previous discoveries at Maka Central, Sapakara West and Kwaskwasi. The well was drilled by a water depth of about […]
Keskesi East-1 Finds Oil In Block 58 Offshore Suriname
(Apache, 14.Jan.2021) — Apache Corporation and Total S.A. today announced an oil discovery at the Keskesi East-1 exploration well in Block 58 offshore Suriname. Keskesi East-1 encountered targets in the upper Cretaceous-aged Campanian and Santonian intervals. The shallower Campanian interval contains 58m (190ft) of net oil, volatile oil and condensate […]
Petrobras CEO Denies Claims Of ‘Predatory’ Pricing Policy
(Reuters, 13.Jan.2021) — Roberto Castello Branco, chief executive of Brazil’s state-run oil company Petroleo Brasileiro SA, has dismissed accusations from private fuel importers that the firm is enforcing a price policy that does not reflect market dynamics. Branco said in the Wednesday edition of daily Valor Econômico that the claims […]
Five Illegal Refineries Destroyed in Norte de Santander
(General Command of the Colombian Military Forces, 13.Jan.2021) — Through a joint, coordinated and interagency operation conducted by the Colombian Air Force, the National Army, the National Police and the CTI (Technical Investigations Corps) of the Attorney General’s Office, it was possible to find and destroy, in a controlled manner, five illegal refineries for fuel production, which […]
Petrobras’ 4Q:20 Results Call Details
(Energy Analytics Institute, 13.Jan.2021) — Petrobras will report and release its production and sales details for the fourth quarter 2020 on 2 February 2021 followed by its fourth quarter financial performance report on 24 February, after the markets close. The Rio de Janeiro-based oil giant will hold webcasts on 25 […]
Guyana And US Ink Agreement In Georgetown
(DPI, 12.Jan.2021) — Chief of Staff of the Guyana Defence Force Brigadier Godfrey Bess and Commander of the U.S. South Command, Admiral Craig S. Faller, moments ago, signed an Acquisition and Cross-Servicing Agreement on behalf of Guyana and the United States. The signing was done in the Baridi Benab, State […]
Maduro Says Venezuela Eyes Output Of 1.5 MMB/D
(Energy Analytics Institute, 12.Jan.2021) — Venezuela’s President Nicolas Maduro, during his annual speech to the nation on 12 January 2021, announced the OPEC country was eyeing oil production of 1.5 million barrels per day thanks in part to the Anti-Blockage Law. No further details were revealed by the leader, but […]
Trinidad And Tobago Energy Event And Trade Show 2021
(Trinidad Energy Chamber, 11.Jan.2021) — The Trinidad and Tobago Energy Conference will take place from 7-9 June 2021. Highlights: Event: Trinidad and Tobago Energy Conference (TTEC) Date: 7-9 June 2021 Hosted By: Energy Chamber of Trinidad and Tobago (map) City: Point Lisas, Trinidad and Tobago This conference is the major […]
Trinidad: Energy Efficiency And Renewables Event 2021
(Trinidad Energy Chamber, 11.Jan.2021) — The Energy Efficiency and Renewables Conference takes place from 1-3 February 2021. Highlights: Event: Energy Efficiency and Renewables Conference Date: 1-3 February 2021 Hosted By: Energy Chamber of Trinidad and Tobago (map) City: Point Lisas, Trinidad and Tobago The Energy Efficiency and Renewables Conference is […]
Global Witness Withdraws Guyana Report
(Global Witness, 11.Jan.2021) — The climate emergency is the greatest threat facing the world. If we are to prevent its worst impacts we all must act now. For Global Witness this has meant redirecting our efforts to fighting the main drivers of the climate crisis: deforestation, the extraction and burning […]
Grenergy And Natixis Close Portfolio Financing In Chile
(Grenergy, 11.Jan.2021) — Grenergy Renovables S.A., with Natixis as Sole Lead Arranger, Hedge Provider, LC Issuing Bank and Administrative Agent, have successfully closed senior secured facilities totaling $91mn for an expected 130 MWp portfolio of 14 solar photovoltaic (“PV”) plants in Chile. This marks Natixis’ first transaction with Grenergy and […]
OPEC Voluntary Production Levels (PDF DOWNLOAD)
(Energy Analytics Institute, 11.Jan.2021) — OPEC’s voluntary crude oil production levels for the months of January, February, and March. __________ By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.
Iranian Oil Tankers Entering Venezuelan, Syrian Ports
(MEHR, 10.Jan.2021) — Tankertrackers reported that the Iranian oil and gasoline tankers have reached near Syria and Venezuela. According to Tankertrackers, an Iranian tanker carrying two million barrels of crude oil shipments is crossing the Suez Canal and it will probably arrive in the Syrian port of Banias on Monday. […]
Petrobras Sets Fresh Annual Production Record In 2020
(S&P Global Platts, 8.Jan.2021) — Brazilian state-led oil company Petrobras set a fresh record for annual output in 2020 on better-than-expected performance at the Buzios Field and improved corrosion-treatment efforts at its subsalt fields, the company said Jan. 7. “The records demonstrate good operational performance despite the challenging scenario of […]
Mexican President Wants To Dissolve Energy Regulators
(Argus, 8.Jan.2021) — Mexican President Andres Manuel Lopez Obrador plans to dissolve Mexico’s independent energy, telecommunications and competition regulators, incorporating them into government ministries. “These organizations have only served as smoke screens for illicit activity and hiding information … they cost a lot, do not work and do not benefit […]
Hess Reveals 4Q:20 Earnings Conference Call Date
(Hess, 8.Jan.2021) — Hess will hold a conference call on Wednesday 27 January 2021 at 10 a.m. Eastern Time to discuss its fourth quarter 2020 earnings release. To phone into the conference call, parties in the United States should dial 877-693-6685 and enter the pass code 3282638 after 9:45 a.m. […]
Petrobras Inks Deal To Divest Mangue Seco 1
(Petrobras, 7.Jan.2021) — Petrobras, following up on the release disclosed on 4 May 2020, informs that it signed today with V2I Transmissão de Energia Elétrica S.A., with Vinci Infraestrutura Gestora de Recursos Ltda. as manager, a contract for the sale of the totality of its stake of 49% in Eólica […]
Suriname Oil Drilling To Expand
(St. Kitts-Nevis Observer, 7.Jan.2021) — Bahamas Petroleum Company PLC told investors it is on-track to add further wells to its operations in Trinidad and also Suriname. At the same time, it confirmed on-target production with 500 barrels of oil per day being produced at the end of 2020. Now, with […]