(Energy Analytics Institute, Piero Stewart, 4.Oct.2013) – Venezuela’s Oil Minister President Rafael Ramirez spoke with journalist in Puerto La Cruz, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez on the economic sector: Ramirez: We have bonds that we are using to bring in food stuffs to guarantee supply […]
Category: Latin America and the Caribbean
LatAmNRG: Heard On The Street 3Q:13
(Energy Analytics Institute, 30.Sep.2013) – Information in this section, provided by Energy Analytics Institute editors and reporters, is hearsay and thus should be treated as such. The names of our many sources have been withheld to protect their identities and family members in Venezuela. COMBUSTIBLES A number of gasoline stations […]
Venezuela Reactivates Fuel Exports to Colombia
(Energy Analytics Institute, Ian Silverman, 24.Sep.2013) – The Venezuelan government plans to reactivate a plan to supply Colombia with combustibles, according to Energy and Mining Minister Rafael Ramirez. The Venezuelan combustibles will be destined for La Guajira area, the minister said. ***
Q&A with Arthur Little’s Rodolfo Guzman
(Energy Analytics Institute, Pietro D. Pitts, 24.Sep.2013) – Arthur D. Little Partner Rodolfo Guzman spoke with Energy Analytics Institute in a brief interview from Houston, Texas. What follows are excerpts from the brief interview. Regarding PDVSA’s potential departure from Abreu e Lima refinery project in Pernambuco, Brazil: EAI: It appears […]
Q&A with Tudor Pickering’s David Pursell
(Energy Analytics Institute, Pietro D. Pitts, 18.Sep.2013) – Tudor Pickering Holt & Co. LLC Managing Director David Pursell spoke with Energy Analytics Institute in a brief interview from Dallas, Texas. What follows are excerpts from the brief interview. EAI: Are PDVSA’s CITGO assets along the US Gulf Coast strategic? Pursell: […]
Honduras Awaits Initial PetroCaribe Shipments
(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – Honduras does not expect to receive its first shipment of oil from Venezuela under PetroCaribe until Dec.2013, reported El Universal, citing Honduras’ Vice Minister of Commerce Melvin Redondo. Venezuela will not be ready to ship the oil as originally planned due to the […]
Pacific Rubiales Sets Capex at $1 Bln
(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – Pacific Rubiales plans capital expenditure outlays of $1 billion on infrastructure projects such as ports, pipelines and a ferry, reported the daily newspaper Portoflio.co. ***
Argentina Says Oil Output Insufficient
(Energy Analytics Institute, Jared Yamin, 13.Sep.2013) – The Argentine government announced production of oil is insufficient to supply the country’s refineries. “We are lacking light oil to process,” reported La Nacion, citing YPF Manager Miguel Galuccio. ***
Uruguay Supporting Execution of 27 Projects
(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – The Uruguayan government is supporting execution of 27 electric projects in rural zones that will span 800 km. The cost of the projects is estimated at $6.5 mln, of which 40% will be subsidized by the government, reported the daily newspaper El Pais. […]
Empresa Energia Bogota to Spend $900 Mln
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – Empresa Energia de Bogota (EEB) plans CAPEX outlays of $900 million in 2013 and the $3.4 billion during 2014-2017, El Espectador said, citing EEB President Sandra Fonseca. EEB also continues to analyze the purchase of Isagen, the daily reported. ***
Modernization of Barrancabermeja Refinery Continues
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – Modernization activities advance at the 230,000 barrel per day Barrancabermeja Refinery, reported the daily newspaper Portafolio.co. ***
Nicaragua Oil Derivative Purchases Down
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – Nicaragua’s purchases of oil and oil derivatives during the first four months of 2013 were $367.9 million compared with $424.1 million in the same year ago period, according to data published by the country’s Energy Ministry. Likewise, the ministry announced that the purchase […]
Pacific Rubiales Star to Double Recovery Rates
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – The Star project will allow Pacific Rubiales to double recovery rates at the Quifa field, El Espectador reported, citing Pacific Executive Director Ronald Pantin. ***
Bulo Bulo to Generate 3,000 Jobs
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – The urea plant in Bulo Bulo, Cochabamba will generate 3,000 jobs, reported the daily newspaper La Razon, citing Vice Minister of Industrialization, Commercialization, Transportation and Storage Alvaro Arnez. ***
Guatemala Announces Initial Gas Discovery
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – Guatemala announced its initial gas discovery at the Ocultun well in the Peten region. The well was drilled to nearly 3 km, reported the daily newspaper La Razon. The discovery could cover 30% of the daily demand for propane for the country. “It […]
GTLI to Return Areas to YPFB
(Energy Analytics Institute, Ian Silverman, 11.Sep.2013) – Gas To Liquid International (GTLI) is in the process of returning four exploration areas to Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). There are 104 areas reserved for YPFB, reported La Razon, citing YPFB President Carlos Villegas. Of these areas, 53 have been designated for […]
Combustible Prices to Increase in Uruguay
(Energy Analytics Institute, Ian Silverman, 11.Sep.2013) – Uruguay’s ANCAP will increase the price of combustibles by an average 9.7%, reported the daily newspaper La Red 21. ***
Petronas Exits Carabobo Project in Venezuela
(Energy Analytics Institute, Ian Silverman, 11.Sep.2013) – Malaysia’s Petronas will exit the Petrocarabobo project in Venezuela’s Orinoco Heavy Oil Belt or Faja, according to Venezuela’s Oil Minister Rafael Ramirez. The Petrocarabobo project, which requires an investment of $20 bln, will last for 25 years and includes construction of a 200,000 […]
PetroPar Debt Will Not Be Forgiven
(Energy Analytics Institute, Ian Silverman, 10.Sep.2013) – PDVSA President Rafael Ramirez, who also serves as Venezuela’s Oil Minister, said that the debt owed to PDVSA by Petroleos de Paraguay (Petropar) must be repaid. Petropar’s outstanding debt to PDVSA is around $265 mln to $270 mln, according to reports on the […]
Q&A with PDVSA Refining Director Jesus Luongo
(Energy Analytics Institute, Piero Stewart, 9.Sep.2013) – PDVSA Refining Director Jesus Luongo spoke briefly with Energy Analytics Institute on the sideline of a press conference in Caracas, Venezuela. What follows are excerpts from the brief interview. EAI: What is the processing capacity at Amuay? Luongo: Amuay is processing 445,000 b/d. […]
11th Meeting of PetroCaribe Ministers
(Energy Analytics Institute, Ian Silverman, 8.Sep.2013) – Venezuela’s Energy Minister Rafael Ramirez participated in the 11th meeting of the Council of Petrocaribe Ministers in Port-au-Prince, Haiti according to an official statement from PDVSA. Petrocaribe is an innovative geopolitical initiative based on integration and regional unity, and provides energy to nearly […]
PDVSA Flatboat Overturns, Sinks in Zulia
(Energy Analytics Institute, Ian Silverman, 8.Sep.2013) – PDVSA announced a flatboat with 20 workers overturned and sank in Lagunillas in Zulia state. All the workers were rescued, reported the daily newspaper El Universal. ***
Venezuela’s Merentes Comments on OPEC
(Energy Analytics Institute, Ian Silverman, 8.Sep.2013) – Venezuela’s Finance Minister Nelsen Merentes comments on Venezuelan state television or VTV. “OPEC production restrictions limit growth of Venezuela’s petroleum sector GDP as well as limiting large production gains.” ***
Ramirez Talks PDVSA on ‘Jose Vicente Hoy’
(Energy Analytics Institute, Piero Stewart, 8.Sep.2013) – Venezuelan Oil Minister Rafael Ramirez comments on the oil worker’s strike in 2002-2003 against PDVSA. “Venezuelan opposition has spent 10-years saying PDVSA would go bankrupt and today the company is one of the largest companies in the world. PDVSA is the only state […]
Camisea Gas Compression Plant Online by YE:15
(Energy Analytics Institute, Ian Silverman, 29.Aug.2013) – The Camisea gas compression plant will be ready in December 2015. The plant will require an investment of $318 mln and will allow the gas pipeline to increase its capacity by 50%, reported the daily newspaper El Comercio. Upon completion, the gas compression […]
Eni CEO Comments on Perla
(Energy Analytics Institute, Ian Silverman, 28.Aug.2013) – Eni Chief Executive Officer Paolo Scaroni comments during a special event at PDVSA’s headquarters in Caracas, Venezuela about his company’s participation in activities in Venezuela: “Venezuela will be the most important country for Eni once the offshore Perla discovery reaches maximum production and […]
Venezuela, Trinidad Meet Over Border Gas
(Energy Analytics Institute, Ian Silverman, 26.Aug.2013) – Venezuelan Oil Minister Rafael Ramirez met with his counterpart from Trinidad and Tobago, Kevin Ramnarine in Caracas to discuss a development plan for natural gas fields that straddle the maritime borders of their countries. The ministers announced plans to develop the Manatee-Loran gas […]
PDVSA Initiates Production At Dragon Field
(Energy Analytics Institute, Piero Stewart, 25.Aug.2013) – Development of the offshore fields Dragon, Patao, Mejillones and Rio Caribe located in the Northern Paria Peninsula will allow for initial production of 200 MMcf/d of gas and 20 Mb/d of condensates which will be destined initially for the Venezuelan domestic market, PDVSA […]
PDVSA President Comments on Citgo
(Energy Analytics Institute, Ian Silverman, 25.Aug.2013) – During a trip with reporters in Guiria, PDVSA President Rafael Ramirez commented about the company’s CITGO Corporation refineries in the USA: “PDVSA’s USA refining circuit has certain problems due to its geographic distribution and the fact that they receive little Venezuelan crudes.” ***
Oil Analyst Speak at IESA Energy Forum
(Energy Analytics Institute, Piero Stewart, 20.Aug.2013) – Energy sector analyst from Medley to Harvard Kennedy spoke at an energy forum at IESA in Caracas. Quote highlights from the forum follow: Comments from Luisa Palacios Director for Latin America, Medley Global Adviser regarding Mexico’s energy reform: “We expect to see positive […]
Rosneft and PDVSA Evaluate Gas Projects
(Energy Analytics Institute, Ian Silverman, 15.Aug.2013) – Rosneft and PDVSA are reviewing plans to extract gas in Sucre state and in the Gulf of Venezuela, according to a PDVSA official. “We are looking at areas with gas and condensate reserves,” PDVSA President Rafael Ramirez told Energy Analytics Institute. ***
Venezuela Inaugurates Nororiental Gas Pipeline
(Energy Analytics Institute, Ian Silverman, 15.Aug.2013) – Venezuela inaugurated the first part of the Northeastern Gas Pipeline in Jefe Jose Francisco Bermudez. The pipeline extends from Barbacoa in Anzoategui state to Güiria in Sucre state and Margarita Island in Nueva Esparta state. The pipeline spans 731 km and consist of […]
Rosneft to Use Russian Technology at PetroMonagas
(Energy Analytics Institute, Ian Silverman, 14.Aug.2013) – Rosneft President Igor Sechon said his company would utilize Russian technology at the Petromonagas heavy oil project to increase production to 160,000 b/d from 140,000 b/d. Rosneft and PDVSA participate as partners in the following JVs in Venezuela: Petroperija, Boqueron, Petromonagas, Petrozamora, Petrovictoria […]
Rosneft, PDVSA Agree to Create PetroVictoria
(Energy Analytics Institute, Ian Silverman, 14.Aug.2013) – PDVSA and Russia’s Rosneft signed an agreement to create the JV company Petrovictoria, which will operate Carabobo Block 2 in Anzoategui and Monagas states as well as Carabobo Block 4 in Monagas state. The agreement was signed by Venezuela’s Minister of Energy and […]
Amuay Explosion in 2012 Cost PDVSA $1.8 Bln
(Energy Analytics Institute, Ian Silverman, 13.Aug.2013) – The Energy Orientation Center (COENER) announced the Amuay refinery explosion will cost PDVSA $1.8 billion. The explosion at the Amuay refinery was caused by a gas leak at Block B23 and occurred at 1:10am on 25.Aug.2012 and was the largest tragedy to-date to […]
Q&A with Oil Outlook President Carl Larry
(Energy Analytics Institute, Pietro D. Pitts, 9.Aug.2013) – Oil Outlook President Carl Larry spoke with Energy Analytics Institute in a brief interview from Houston, Texas. What follows are excerpts from the brief interview. EAI: Are US refiners benefiting from PDVSA’s refinery problems in Venezuela? Larry: We have seen production in […]
Q&A with Chevron LatAm’s Susana Brugada
(Energy Analytics Institute, Pietro D. Pitts, 7.Aug.2013) – Chevron Latin America Business Unit Public Affairs and Communications Coordinator Susana Brugada spoke with Energy Analytics Institute in a brief interview from Caracas, Venezuela. What follows are excerpts from the brief interview. EAI: Is Chevron continuing to export gas to Venezuela from […]
Journalist Round Table with Rafael Ramirez
(Energy Analytics Institute, Piero Stewart, 31.Jul.2013) – PDVSA President Rafael Ramirez held a small round table with journalist in Caracas, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez on the petroleum sector and the current government administration under Venezuelan President Nicolas Maduro: Rafael Ramirez: We have firmly established […]
Bolivar State Governor Comments On Faja
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – The Governor of Bolivar state in Venezuela, Francisco José Rangel Gómez, commented on the Faja. “Chavez gave us political independence and now we will obtain economic independence with the development of the Faja.” ***
Ramirez Comments on Oil, Mining Sectors
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – Venezuelan Oil Minister Rafael Ramirez comments on development of the Orinoco Heavy Oil Belt and the Venezuelan mining sector. “The Faja project was a dream of Hugo Chavez and I swear that we will complete the project.” “We have establish order in the […]
Speech by Rafael Ramirez from Puerto Ordaz
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – PDVSA’s and Venezuela’s Oil Minister President Rafael Ramirez spoke at the closing of the Sixth National Production Meetings in Puerto Ordaz, Venezuela. What follows are excerpts from the speech. Speech by Rafael Ramirez on Venezuelan petroleum sector: Ramirez: At the closing event for […]
Q&A with Fitch’s Lucas Aristizabal
(Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Fitch’s Latin America Corporates Group Director Lucas Aristizabal spoke with Energy Analytics Institute in a brief interview from New York City, New York. What follows are excerpts from the brief interview. Regarding PDVSA’s strategy to focus more attention on China: EAI: PDVSA […]
Q&A with Tissot Associate’s Roger Tissot
(Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Tissot Associates Consultant Roger Tissot spoke with Energy Analytics Institute in a brief interview from Canada. What follows are excerpts from the brief interview. Regarding the decision of Ecuador’s government to develop the ITT fields: EAI: Ecuador has decided to move forward […]
Rafael Ramirez Speech in from Cumana
(Energy Analytics Institute, Piero Stewart, 18.Jul.2013) – PDVSA’s and Venezuela’s Oil Minister President Rafael Ramirez spoke with journalist in Cumana, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez on Mariscal Sucre: Ramirez: PDVSA plans to send additional gas production from offshore (Mariscal Sucre) to thermoelectric plants in a […]
Citgo’s Garay Comments on PDVSA Imports
(Energy Analytics Institute, Piero Stewart, 17.Jun.2013) – The Public Affairs Manager with Houston-based Citgo Petroleum, Fernando Garay, comments via phone regarding declining imports of Venezuelan crude oil in the U.S. “We are not worried about the prospect of declining oil supplies from our Caracas-based parent company PDVSA and have no […]
Q&A with Brookshire’s Gianna Bern
(Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Brookshire Advisory and Research President Gianna Bern spoke with Energy Analytics Institute in a brief interview from Chicago, IL. What follows are excerpts from the brief interview. EAI: Do you think PDVSA will move to increase rates on Petrocaribe member countries that […]
Sinovensa Signs $4 Bln Financing Agreement
(Energy Analytics Institute, Ian Silverman, 12.Jul.2013) – Sinovensa President Erwin Hernandez and China’s Development Bank Vice President Wang Yongshen signed a financing agreement in Beijing for $4 million for the expansion of production at the company which is comprised of PDVSA and China National Petroleum Corp. (CNPC). ***
Japan, Venezuela Sign Energy MOU
(Energy Analytics Institute, Ian Silverman, 10.Jul.2013) – Venezuela’s Energy and Petroleum Minister Rafael Ramirez and his Japanese counterpart Toshimitsu Motegi meet in Tokyo to review advances under a MOU signed by Venezuela and Japan in 2007. Ramirez also met with the Jogmec President Hirobumi Kawanon and Inpex President Toshiaki Kitamura […]
Paraguana Refining Center Running at 717 Mb/d
(Energy Analytics Institute, Piero Stewart, 6.Jul.2013) – With the five distillation plants at Amuay Refinery operating, average processing levels at the Paraguana Refining Center (CRP) were 717,000 b/d in June 2013, announced PDVSA Refining Director Jesus Luongo. The refinery was expected to be processing 736,000 b/d in July 2013. CRP […]
PDVSA Says Paraguana Wind Park Advances
(Energy Analytics Institute, Ian Silverman, 3.Jul.2013) – PDVSA initiated wind studies in 2007 and by December 2012 the company had 23 turbines in place with a processing capacity of 33 MW. Venezuela’s wind park in Paraguana currently consists of 76 wind turbines that produce 100 MW of clean energy and […]
Ecuador Open Market Meetings in Houston
(Energy Analytics Institute, Ian Silverman, 25.Jun.2013) – PetroEcuador holds open market committee meetings in Houston, Texas. Highlights from the discussion follow: Comments from PetroEcuador International Commerce Executive Nilsen Arias: “Oil’s contribution to the energy matrix was 85% in 2010, but will fall to 65-70% in 2013.” “Demand for gasoline, diesel […]
Citgo’s Garay Comments on PDVSA Imports
(Energy Analytics Institute, Piero Stewart, 17.Jun.2013) – The Public Affairs Manager with Houston-based Citgo Petroleum, Fernando Garay, comments via phone regarding declining imports of Venezuelan crude oil in the U.S. “We are not worried about the prospect of declining oil supplies from our Caracas-based parent company PDVSA and have no […]
Companies Launch New Phase of the Yucal Placer Gas Field in Venezuela
(Total, 9.Jul.2012) — Total announces, together with its partners Repsol, Inepetrol and Otepi, having taken the final investment decision for a new development phase of the Yucal Placer gas field, operated by Ypergas*, and located in Guárico State, Venezuela. The production capacity of this field, which came on stream in […]
Brazil, Venezuela, and Mexico: Three Ways To Nationalize Oil
(CSMonitor, 12.May.2012) — Argentina’s renationalization of its biggest oil company, YPF, recently caused an outcry. But the cases of oil nationalization in Brazil, Mexico, and Venezuela show that outcomes can vary widely. “Nationalization is an old story in Latin America,” says Larry Birns, director of the Council on Hemispheric Affairs. […]
Total Awarded License In Uruguay
(Total, 3.May.2012) — Total has been awarded an exploration license for Uruguay’s offshore Block 14, following the second bidding round held by the national company, ANCAP. This license remains subject to further approval by Uruguayan authorities. Block 14 has a surface area of 6,690 km² and is located in the […]
Galp Energia Inks E&P Deal In Uruguay
(Galp Energia, 2.Sep.2010) — Galp Energia and its consortium partners Petrobras and YPF have signed today in Montevideo, an exploration and production agreement for the Uruguayan continental platform with Acap, the national oil company of Uruguay. Galp Energia and its consortium partners Petrobras and YPF have signed today in Montevideo, […]
Venezuela Seizes Helmerich & Payne Rigs
(TulsaWorld, Rod Walton, 2.Jul.2010) – The action comes amid a payment dispute in which the company left the equipment idle. Helmerich & Payne’s 52-year business relationship with Venezuela came to at least a temporary end Thursday as President Hugo Chavez’s government seized 11 rigs owned by the Tulsa contract drilling […]
Paraguaná Wind Farm In Venezuela Operational In 2011
(EVWind, 14.Apr.2010) — Paraguana peninsula in Falcon state, located in the northwestern region, about 453 kilometers from the city of Caracas, is the first place in the country where they will launch a wind farm in 2011, a fact which confirms a clean energy supply and quality for Venezuelans. Petroleos […]
Report Evaluates Economic Benefits Of Camisea Project
(IDB, 29.Oct.2007) — The Camisea natural gas project has transformed Peru, reducing energy costs, increasing national revenue and spurring economic growth, according to a study released by Apoyo Consultoría , one of Peru’s leading economic consulting firms. The firm said in a study commissioned by the IDB that the project […]
Petro-Canada Joins Venezuelan Oil Exodus
(Reuters, 26.Jun.2007) — Petro-Canada has pulled out of Venezuela by rejecting new nationalistic terms for oil projects and passing its stake in one discovery to President Hugo Chavez’s government, it said on Tuesday. “We have decided not to migrate to the new commercial structure, so our working interest passes to […]
Large Oil Field Is Found in Belize; the Angling Begins
(NPR, 11.Oct.2006) — An oil discovery in Belize could be a windfall for this poor, underdeveloped Central American country. But there are concerns that the government will mismanage the resource and allow the new oil industry to destroy Belize’s pristine wilderness. U.S. oil companies are also fuming that the government […]
Bolivia’s Nationalization of Oil and Gas
(Council on Foreign Relations, Carin Zissis, 12.May.2006) — In a region seen as turning leftward, forging alliances would seem a natural course of events. But Bolivian President Evo Morales’ decision to nationalize the oil and gas industry is exposing tensions, causing experts to say there is more diffusion than alliance-building […]