(Petrobras, 7.Jan.2021) — Petrobras, following up on the release disclosed on 12 June 2020, informs that it signed today with V2I TransmissĂŁo de Energia ElĂ©trica S.A., with Vinci Infraestrutura Gestora de Recursos Ltda. as manager, a contract for the joint sale with Wobben Windpower IndĂşstria e ComĂ©rcio Ltda (Wobben) of […]
Category: Latin America and the Caribbean
Petrobras Reports Record Production In 2020
(Petrobras, 7.Jan.2021) — Petrobras registered records in its 2020 annual oil production and total annual production (oil and gas) of, respectively, 2.28 million barrels per day (bpd) of oil and 2.84 million barrels of oil equivalent per day (boed). The previous records occurred in 2015 and were 2.23 million bpd […]
Methanex To Cut 60 Employees At Titan Facility
(Methanex, 7.Jan.2021) — Methanex Corporation announced today that it expects its Titan methanol facility in Trinidad (875,000 annual operating capacity) will remain idled indefinitely. As a result, the company has made the decision to restructure its Trinidad operations to support a one-plant operation and reduce its Trinidad workforce by approximately […]
Crown Point And Centaurus Enter Into Term Sheet
(Crown Point, 7.Jan.2021) — Crown Point Energy Inc., a Calgary-based oil and gas company with Argentine upstream conventional oil and gas assets, and Centaurus Energy Inc., an independent, Canadian company focused on Argentine upstream oil and gas conventional and unconventional operations, are pleased to announce that they have entered into […]
Colombia Said To Review Divesting Stake In ISA
(Bloomberg, 6.Jan.2021) — Colombia’s government is reviewing plans to sell a stake in Interconexion Electrica SA that is attracting interest from publicly owned companies, according to people with direct knowledge of the matter. Grupo Energia Bogota is among companies considering a bid for the stake in the transmission company, while […]
EU’s Declaration On Backing Venezuela’s Juan Guaido
(EU Council, 6.Jan.2021) — The Venezuelan elections of 6 December 2020 for the National Assembly regrettably went ahead without a national agreement on electoral conditions. The European Union considers that the elections failed to comply with the international standards for a credible process and to mobilise the Venezuelan people to […]
EU, Lima Group Sour On Juan Guaido
(Argus, 6.Jan.2021) — The EU and the Lima Group of Latin American countries and Canada have implicitly dropped support for Venezuelan opposition leader Juan Guaido as Venezuela’s interim president, portending a policy shift in Washington as well. The EU now views Guaido and the opposition-led “outgoing” National Assembly as just […]
Pompeo On Win-Win Solutions, Capital Storming
(Energy Analytics Institute, 6.Jan.2021) — US Secretary of State Michael Pompeo comments on win-win mineral solutions in certain countries from DRC to Brazil as well as other issues related to US LNG and the violent storming of the US Capital building in Washington, DC by supports loyal to outgoing US […]
Peru Oil And Gas Industry Eyes Rebound
(Argus, 5.Jan.2021) — Peru’s oil and gas industry is hoping for a rebound in 2021 following a year marred by the COVID-19 pandemic, violent indigenous protests and political instability. With oil and gas fields, and the 200,000 b/d North Peruvian oil pipeline, shut down repeatedly by social conflicts and a […]
Venezuela’s New National Assembly Steps In
(Energy Analytics Institute, 5.Jan.2021) — Venezuela’s new National Assembly, elected in parliamentary elections on 6 December 2020, assumed power today in Caracas. Jorge Rodriguez will take over as the leader of the assembly, after unseating former assembly leader Juan Guaido, whose party boycotted the 6 December vote as they perceived […]
Exxon Spuds Bulletwood, Offshore Guyana
(Offshore Engineer, 5.Jan.2021) — U.S. oil major ExxonMobil has reportedly started drilling at the Bulletwood-1 well site on the Canje Block, offshore Guyana. The news was shared Tuesday by Westmount Energy, an indirect partner in the Canje Block. Westmount owns an indirect interest in the Canje Block as a result […]
ElĂas Matta To Continue Heading Energy Commission
(Energy Analytics Institute, 5.Jan.2020) — ElĂas Matta will retain his post as the president of the energy and petroleum commission of the National Assembly, sources in Caracas tell Energy Analytics Institute. __________ By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
Sungrow Shipments To The Americas Cross 10 GW
(Sungrow, 4.Jan.2021) — Sungrow, the global leading inverter solution supplier for renewables, announced recently that its cumulative shipments in the Americas hit a significant milestone of 10 GW by the end of 2020, underlining its position in the deep decarbonization of the local economy and its role as a big […]
Apache Creates Holding Company Structure
(Apache, 4.Jan.2021) — Apache Corporation announced that its Board of Directors authorized the company to create a holding company structure. Upon its formation, APA Corporation, the new holding company, will replace Apache Corporation as the public company trading on the Nasdaq stock exchange. Existing shares of Apache will be automatically […]
Petrobras Comments On IESA Oleo e Gas Case
(Petrobras, 4.Jan.2021) — Petrobras informs that an arbitral panel seated in New York, has issued an award in an arbitration initiated by IESA Ă“leo e Gás S.A. determining the payment of approximately $37mn, plus interest, by its wholly-owned subsidiary Petrobras Netherlands B.V. (PNBV) and the payment of approximately $33mn, plus […]
Forestry Commission To Be Fully Operational Again
(DPI, 4.Jan.2021) — Minister of Natural Resources Hon. Vickram Bharrat has said the capacity of the Guyana Forestry Commission (GFC) has been strengthened and the entity would soon be fully operational again. Under the APNU+AFC Administration, the regulatory body was plunged into economic distress, leaving a trail of uncertainty in […]
Venezuela’s Oil Exports Sink To 1940’s Level
(Reuters, 4.Jan.2021) — Pressured by strict U.S. sanctions, Venezuela’s oil exports plunged by 376,500 barrels per day (bpd) in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA, financially squeezing socialist President Nicolas Maduro. The administration of U.S. President Donald Trump also put curbs on PDVSA’s main […]
EP PetroEcuador Completes Merger With PetroAmazonas
(Energy Analytics Institute, 4.Jan.2021) — The long awaited merger of Ecuador’s two state oil and gas entities EP PetroEcuador and PetroAmazonas EP was approved by the South American country’s President LenĂn Moreno. The restructuring of the two companies conclosed on 31 December 2020 and Moreno signed executive decree #1221 on […]
Guyana Oil Company Doubled Profits In 2019
(The Rio Times, 3.Jan.2021) — GuyOil, the report notes, has been able to maintain a market share of just about 25% and in 2019 sales revenue totaled US$37.516 billion, an 8.5% decrease from the US$41.016 earned in 2018. Despite a reduction in sales due to a loss of public trust, […]
Pemex Investigates Offshore Pipeline Fire
(Argus, 2.Jan.2021) — Mexico’s state-run Pemex is investigating the cause of a fire that broke out yesterday on a pipeline that carries hydrocarbons from an offshore production platform near Dos Bocas, Tabasco. Pemex shut the offshore pipeline that connects the platform to a separation facility near the Dos Bocas port […]
20 Companies: The Biggest Polluters In The World
(Insider Monkey, 2.Jan.2021) — In this article we are going to list the 20 companies that are the biggest polluters in the world. Click to skip ahead and jump to the 10 companies that are the biggest polluters in the world. Look, I don’t think there are many educated people […]
YPFB And IEASA Ink Fifth Gas Addendum
(Energy Analytics Institute, 1.Jan.2020) — Bolivia’s state oil and gas entity Yacimientos PetrolĂferos Fiscales Boliviano (YPFB) and Argentina’s IEASA signed onto a fifth addendum to a natural gas purchase and sale agreement to guarantee continued bilateral energy trade between both countries in the new year. The volumes agreed under the […]
Trinidad And Tobago: GECF Country Brief
(Energy Analytics Institute, 1.Jan.2021) — Trinidad and Tobago is the leading producer of oil and gas in the Caribbean, and these resources play an important part in the economy. The country also supplies manufactured goods, notably food products and beverages, as well as construction materials to the Caribbean region. Oil […]
Brazil Eyes Oil Industry Reforms To Lure Investors
(S&P Global, 31.Dec.2020) — Brazil needs to continue making important oil industry reforms in 2021 to remain as one of the world’s top destinations for investments amid heated global competition and uncertainties about the coronavirus pandemic, according to government and industry officials. The efforts will come during a period of […]
Q&A: Bolivia Doubles Down On Gas
(Argus, 31.Dec.2020) — Bolivia’s new government is looking to cut diesel imports by encouraging exploration with a focus on liquids and transitioning its transportation sector to natural gas, the country’s main export. In his first interview with English-speaking media, hydrocarbons minister Franklin Molina shared his perspective with Argus. Spain’s Repsol […]
Venezuela Briefs: Halliburton Layoffs
(Energy Analytics Institute, 31.Dec.2020) — Briefs from Venezuela related to Halliburton layoffs and the year end message from PetrĂłleos de Venezuela (PDVSA) President AsdrĂşbal Chávez. Halliburton Lays Off Workers Halliburton Venezuela has been forced to lay off an unknown number of employees related to business restrictions owing to a license […]
Petrobras Comments On Gaspetro’s Divestment
(Petrobras, 30.Dec.2020) — Petrobras, following up on the release disclosed on November 30, 2020, regarding the divestment of Petrobras Gás S.A. (Gaspetro), informs that it received on 22 December 2020 a letter from the Administrative Council for Economic Defense (CADE) in which the agency attests that the continuation of the […]
Petrobras Closes Equity Interest In Sete Brasil Group
(Petrobras, 30.Dec.2020) — Petrobras, following up on the release disclosed on 20 December 2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the […]
Heard Bolivia: Hydrocarbon Reserves, Ecological Fuels
(Energy Analytics Institute, 30.Dec.2020) — Heard on the street from Bolivia related to the Andean country’s plans to boost hydrocarbon reserves and development of projects related to producing ecological fuels. HEARD BOLIVIA — Bolivia’s Ministry of Hydrocarbons and Energy aims to increase activities as part of a plan to boost […]
University Of Los Llanos Inaugurate Meta Campus
(Ecopetrol, 30.Dec.2020) — Ecopetrol and the University of Los Llanos “Unillanos” gave the service the second phase of works of this educational institution at the boquemonte headquarters, in the municipality of Granada (Meta), which will benefit more than 2,000 students from this important region of Colombia. The investments were made […]
Carlos Vecchio Says GuaidĂł Govt Saved Citgo
(Energy Analytics Institute, 29.Dec.2020) — Houston-based refiner Citgo Petroleum, owned by Venezuela’s state oil and gas company PetrĂłleos de Venezuela (PDVSA), continues to benefit from US legal actions to extend protection from creditors until July 2021, says Carlos Vecchio, the Venezuela’s ambassador to the US under the government of opposition […]
UAE Emerges As Hub For Cos. Helping Venezuela
(Reuters, 29.Dec.2020) — In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade. Within weeks, a little-known company based in the United Arab Emirates took over management of […]
Petrobras On Vitol Leniency Agreement
(Petrobras, 29.Dec.2020) — Petrobras informs that it received, as of today, the amount of R$232.6mn, as a result of a leniency agreement entered into between the Federal Prosecutor’s Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the […]
Petrobras On Transpetro Share Capital Reduction
(Petrobras, 29.Dec.2020) — Petrobras informs that, as sole shareholder, it approved today the reduction of share capital of its wholly-owned subsidiary Petrobras Transporte S.A. (Transpetro), in the amount of R$557,020,835.82 (around $107.2mn), in an Extraordinary General Meeting of Transpetro. The capital reduction was made at book value, with no change […]
Petrobras Starts Arbitration Against Odebrecht
(Petrobras, 28.Dec.2020) — Petrobras presented today a request for arbitration with an indemnity claim estimated at approximately R$800mn, against Odebrecht S.A., based on the shareholders’ agreement regarding Braskem, for violations of its terms. Braskem is not part of this arbitration, which is protected by confidentiality. __________
Guyana Gets Fourth Oil Lift
(Stabroek News, 28.Dec.2020) — At a price of close to US$49.50 per barrel of oil, Guyana has received its fourth one million barrels of oil scheduled for this year and will get its first lift for 2021 in February next year, Vice President Bharrat Jagdeo yesterday confirmed. It would mean […]
Perenco To Compensate Workers In Quarantine
(Trinidad and Tobago Newsday, 26.Dec.2020) — Perenco TT Ltd has assured that it has and will continues to fulfil its contractual obligations to its workforce, and that all personnel will be compensated for their quarantine periods. A press release from the company on Christmas Day stated, “Perenco remains fully committed […]
Bolivia Finds 1+ Tcf At Boicobo Sur X-1 Well
(Energy Analytics Institute, 24.Dec.2020) — Bolivia announced discovery of more than 1 trillion cubic feet (Tcf) of natural gas at the Boicobo Sur X-1 well located in the Huacaya region of Chuquisaca. Approximately $74mn was invested in the drilling of the well, Bolivia’s Ministry of Hydrocarbons and Energy announced 24 […]
![Colombian Officials On Ecopetrol And Shell Deal [VIDEO]](https://energy-analytics-institute.org/wp-content/uploads/2020/12/291338_1.jpg)
Colombian Officials On Ecopetrol And Shell Deal [VIDEO]
(Energy Analytics Institute, 24.Dec.2020) — Officials from Colombia’s National Hydrocarbon Agency (ANH) and Ministry of Mines commented on approval of assignment of a 50% interest held by state owned Ecopetrol to Shell as well as operation by Shell of three blocks off the Colombian Caribbean coast. RELATED STORY: The ANH […]
ANH Approves Deal Between Ecopetrol And Shell
(ANH, 24.Dec.2020) — The ANH approved the entry of Shell EP Offshore Ventures Limited, Colombian branch as operating partner of three Hydrocarbon Exploration and Production contracts in the deep waters of the Colombian Caribbean, through the assignment of 50% interest in each of those contracts, held solely by the Colombian […]
SBM Offshore Extends Lease For FPSO Espirito Santo
(SBM Offshore N.V., 23.Dec.2020) — SBM Offshore reports a contractual lease extension for FPSO Espirito Santo in Brazil and expects a potential increase in the lease duration for FPSOs in Guyana. SBM Offshore will present an updated pro-forma backlog, taking into account the most recent developments, along with its Full […]
Petrobras Inks Deal To Sell Onshore Fields In Bahia
(Petrobras, 23.Dec.2020) — Petrobras informs that it signed today with PetrorecĂ´ncavo S.A. a contract for the assignment of its entire stake in 12 onshore exploration and production fields, denominated Remanso Cluster, located in the state of Bahia. The sale value is $30mn, being (i) $4mn paid on the present date; […]
Trinidad Co. Shuts Offshore Platforms Over Covid-19
(Trinidad Guardian, 23.Dec.2020) — Perenco Trinidad and Tobago Limited yesterday shut down COVID-hit offshore platforms in its Teak, Samaan and Poui fields and transported all workers to either state facilities or other locations for quarantine pending testing. This after Health Minister Terrence Deyalsingh reportedly intervened in the matter following continuing […]
Petrobras Concludes Redemption Of Global Notes
(Petrobras, 23.Dec.2020) — Petrobras, following up on the release disclosed on 18 December 2020, announced its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) concluded today the financial settlement of the early redemption of the 3.750% Global Notes, 5.375% Global Notes and 8.375% Global Notes, maturing in 2021, and of the […]
Venezuela’s Oil Unions Accuse Govt Of Persecution
(AFP, 23.Dec.2020) — Venezuela’s vital oil industry is failing and the socialist government is feeling the pressure, and now the regime of President Nicolas Maduro is being accused of lashing out at the sector’s unions. In recent months, several union leaders have been arrested, accused of terrorism, sharing confidential information […]
Petrobras Starts Bahia Terra Cluster Non-binding Phase
(Petrobras, 23.Dec.2020) — Petrobras, following up on the release disclosed on 4 November 2020, informs the beginning of the non-binding phase, referring to the sale of all of its stakes in a set of 28 onshore production field concessions, with integrated facilities, located in the RecĂ´ncavo and Tucano Basins, in […]
Petrobras On New Contracts With Braskem
(Petrobras, 22.Dec.2020) — Petrobras informs that it has signed new long-term contracts with Braskem S.A. to supply petrochemical naphtha to the industrial unit in the state of SĂŁo Paulo and to supply ethane and propane to the industrial unit in the state of Rio de Janeiro. The naphtha contract, in […]
Petrobras Confirms Oil At Buzios Well
(Petrobras, 22.Dec.2020) — Petrobras confirmed oil of excellent quality with the drilling of well 9-BUZ-48D-RJS, located in the extreme northwest of BĂşzios field in the Santos Basin. The well is located 188 km from the city of Rio de Janeiro and was drilled at a water depth of 1,850 meters. […]
Petrobras Inks New Supply Deal With Braskem
(Petrobras, 22.Dec.2020) — Petrobras signed new long-term contracts with Braskem S.A. to supply petrochemical naphtha to the industrial unit in the state of SĂŁo Paulo and to supply ethane and propane to the industrial unit in the state of Rio de Janeiro. The naphtha contract, in the estimated amount of […]
AMLO’s Nationalism Casts Energy Projects Into Limbo
(Bloomberg, 22.Dec.2020) — Mexican President Andres Manuel Lopez Obrador’s hardball tactics against foreign energy companies are halting projects and reversing a process that until recently made the country one of the world’s hottest oil and renewable markets. About 200 wind farms, natural gas plants, solar arrays and other projects have […]