(Reuters, 22.Dec.2020) — Venezuela has resumed direct shipments of oil to China after U.S. sanctions sent the trade underground for more than a year, according to Refinitiv Eikon vessel-tracking data and internal documents from state company Petroleos de Venezuela (PDVSA). Chinese state companies China National Petroleum Corp (CNPC) and its […]
Category: Latin America and the Caribbean
Guyana Plans To Export 5-6 Crude Cargoes In 2021
(Argus, 22.Dec.2020) — Guyana plans to export “five to six” 1mn bl cargoes of its crude entitlement from the deepwater Stabroek block in 2021 to offset lower-than-expected shipments in 2020, natural resources minister Vickram Bharrat told Argus today. The government had projected five lifts in 2020 but managed only three […]
Pemex, Talos To Keep Talking Over Shared Oil Find
(Reuters, 22.Dec.2020) — Mexico’s energy ministry has approved a 60-day extension for talks between state oil company Pemex and a private consortium led by U.S.-based Talos Energy Inc over the future of a massive shared crude deposit, Talos chief executive Tim Duncan told Reuters on Tuesday. The energy ministry’s previous […]
BPC plc Spuds Perseverance #1 Well Off The Bahamas
(Energy Analytics Institute, 21.Dec.2020) — Bahamas Petroleum Company plc (BPC) announced commencement of the drilling operations at the Perseverance #1 well offshore The Bahamas. Highlights: — Drilling of the Perseverance #1 well has commenced. — The well spud on 20 December 2020, at 06.30 EST. The well is anticipated to take […]
ExxonMobil Hits Guyana Oil Output Goal
(Argus, 21.Dec.2020) — ExxonMobil reached targeted crude production of 120,000 b/d at the Liza 1 well on Guyana’s deepwater Stabroek block, a milestone that had been delayed by an earlier re-injection glitch and equipment delays. The target was achieved a year after start-up of the Liza Destiny floating production, storage […]
PetroRio Reveals Long-Term Financing With Prisma
(PetroRio, 21.Dec.2020) — PetroRio S.A., in accordance with best corporate governance practices and transparency, and in order to maintain informational equity in view of the possible share offering disclosed in the Material Fact of 15 December 2020, informs its shareholders and the market in general about recent events of the […]
PetroRio Buys Ventura’s Atlantic Zephyr Rig For $1
(PetroRio, 21.Dec.2020) — PetroRio signed an agreement with Ventura for the acquisition, for $1 (one US Dollar), of the Atlantic Zephyr rig, a semi-submersible anchored rig suitable for interventions and completions in wells with water depths up to 300m. This acquisition’s purpose is to reduce operational costs and increase the […]
Petrobras Receives “Dragon” Supercomputer
(Petrobras, 21.Dec.2020) — Petrobras started to receive the equipment that compose the supercomputer called “Dragon”, a high performance computer aiming at a greater geophysical processing performance, reducing geological and operational risks. Petrobras has increased investment in high-performance computers and, in less than two years, it has put into production nine […]
Mexican Watchdog Warns Against Fuel Import Changes
(Argus, 21.Dec.2020) — Proposed changes to rules governing importing and exporting hydrocarbons, refined products and petrochemicals in Mexico would “seriously affect competitive conditions in the commercialization of fuels,” competition watchdog Cofece said. Cofece called on the economic development ministry (SE) to not issue a proposal that would give the government […]
Suriname: The Next Oil Superpower or Failed State?
(National Interest, 21.Dec.2020) — Although 2020 will go down as one of the worst years for most countries, it was a pivotal time for Suriname. The small, Dutch-speaking South American country had a critical election; its economy was upended by poor economic management by the outgoing government; the coronavirus pandemic […]
Hortensia JimĂ©nez To Head Bolivia’s ABEN
(Energy Analytics Institute, 21.Dec.2020) — Bolivia’s Hydrocarbons and Energy Minister Franklin Molina Ortiz named Hortensia JimĂ©nez Rivera as Executive General Director of Bolivia’s Nuclear Energy Agency or ABEN. JimĂ©nez is a chemical engineer with professional experience working for public, private and international organizations in Bolivia and across Latin America. __________ […]
Bolivia Gets 454 Domestic Gas Installations In Mizque
(Energy Analytics Institute, 20.Dec.2020) — Bolivia’s Hydrocarbons and Energy Ministry with assistance from state oil and gas company Yacimientos Petrolifos Fiscales Bolivianos (YPFB) completed the installation and connection of 454 residences to the country’s gas network in the municipality of Mizque in the department of Cochabamba. “We want gas to […]
Gov’t Worked With Exxon For Maximum Production
(DPI, 20.Dec.2020) — The government of Guyana says it welcomes the announcement by US oil and gas company ExxonMobil that it has reached maximum production of 120,000 barrels of oil per day (b/d) – a success to which it has contributed. Minister of Natural Resources Hon. Vickram Bharrat said the […]
Chile Names Jobet New Bi-Minister Of Energy
(Energy Analytics Institute, 19.Dec.2020) — Chile’s President Sebastian Piñera Echenique named Juan Carlos Jobet as the bi-minister of the South American country’s energy ministry. Jobet reconfirmed the details in a social media post. __________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.
YPFB Confirms Find At Yarará -X1 Exploratory Well
(Energy Analytics Institute, 19.Dec.2020) — Drilling of the Yarará X-1 (YRA-X1) exploratory well, which commenced on 14 September 2020, reached a final depth of 2,850m and encountered the presence of hydrocarbons. “The immediate plan is to develop wells in the area,” Bolivia’s Ministry of Hydrocarbons and Energy announced 19 December […]
ANP Board Agrees To Maintain Covid-19 Protocols
(Energy Analytics Institute, 18.Dec.2020) — The ANP Board approved on 17 December 2020 a resolution to maintain temporary safety measures and protocols to deal with the emergency that has arisen from the Covid-19 pandemic, the agency said in an official statement. The new regulation will establish deadlines and procedures to […]
NGC, Touchstone In Gas Supply Partnership
(NGC, 18.Dec.2020) — The National Gas Company of Trinidad and Tobago Limited (NGC) signed a natural gas supply agreement with Primera Oil and Gas Limited, a subsidiary of Canadian energy exploration company Touchstone Exploration on 18 December 2020. Primera, acting on behalf of its joint venture partner Heritage Petroleum Company […]
World Court To Intervene In Guyana-Venezuela Dispute
(AP, 18.Dec.2020) — The United Nations’ highest court ruled Friday that it will intervene to settle a decades-old border dispute between South American neighbors Guyana and Venezuela. The decision by the International Court of Justice means it will now move to judge the merits of the case, which will likely […]
PBio Completes Sale Of BSBios Shares
(Petrobras, 18.Dec.2020) — Petrobras, following up on the press release disclosed on 27 April 2020, informs that its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBio), as part of the competitive process, has concluded the negotiation phase with the company RP Participações em BiocombustĂveis S.A. for the sale of all its shares […]
Biden To Seek Talks With Maduro Regime
(Bloomberg, 18.Dec.2020) — President-elect Joe Biden’s advisers are preparing to negotiate with Nicolas Maduro’s regime in Venezuela in an effort to end the Western Hemisphere’s worst economic and humanitarian crisis, according to three people familiar with the matter. The Biden administration intends to push for free and fair elections, offering […]
Touchstone Enters Natural Gas Sales Deal With NGC
(Touchstone, 18.Dec.2020) — Touchstone Exploration Inc. executed a long-term natural gas sales agreement with the National Gas Company of Trinidad and Tobago Limited (NGC) for all future natural gas production from the Ortoire block (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest). Operational Update Touchstone has […]
Petrobras On Deal In Arbitration Of Sete Brasil
(Petrobras, 17.Dec.2020) — Petrobras informs that, on this date, the payment of R$190mn was made to the Pension Fund of the Employees of the Bank of Brazil – Previ, due to the agreement that ended the arbitration litigation proposed by Previ in order to obtain compensation from Petrobras for alleged […]
Facing An Economic Crisis, Colombia Turns To Fracking
(Sierra Club, 17.Dec.2020) — San MartĂn is full of oil men. This small, no-nonsense Colombian town in the department of Cesar, is hot, chaotic, and long accustomed to the presence of the petroleum industry. Ecopetrol, the state-owned oil company, is everywhere. Standing in the town center it is impossible not […]
Argentina’s Plan Gas 4 To Provide Some Cash Flow Stability
(Ftich, 17.Dec.2020) — The contracts that the Argentine Ministry of Energy recently awarded to natural gas producers in the country under Plan Gas 4 (PG4) may bolster somewhat cash flow stability for players in the country and at the same time increase these companies’ credit linkage to that of the […]
Q&A: Ecopetrol Ready To Compete, Ready For Change
(Argus, 16.Dec.2020) — Colombia’s state-controlled Ecopetrol had been diversifying crude exports with a commitment to quality before the market tailspin of 2020. Now the company is preparing to boost crude imports and compete on its home turf. Commercial and marketing vice president Pedro Manrique shared Ecopetrol’s experience with Argus. Edited […]
YPF Updates On Plan Gas 4
(YPF, 16.Dec.2020) — In compliance with the provisions set forth in article 73 of Law 26,831, YPF S.A. hereby informs the Audit Committee report is available to the shareholders at the company’s headquarters located in Macacha GĂĽemes 515, City of Buenos Aires, in which the Audit Committee issued its opinion […]
bpTT Says To Dismiss 149 Employees
(bpTT, 16.Dec.2020) — In February 2020, we launched our new purpose: to reimagine energy for people and our planet and also announced a bold new ambition: to become a net zero (GHG emission) company by 2050 or sooner, and to help the world get to net zero. On 8 June […]
Moody’s Warns Of Pemex Downgrade
(Reuters, 15.Dec.2020) — Mexican state oil giant Pemex could sink deeper into junk territory if Mexico’s sovereign credit rating is downgraded, ratings agency Moody’s said on Wednesday. Moody’s stripped heavily indebted Pemex of its investment grade rating in April and downgraded it to junk status by cutting its rating to […]
Spills In Venezuela Offer A Bleak Vision Of An Oil End
(Bloomberg, 15.Dec.2020) — Tropical rains have washed away most outward traces of the oil spill that ravaged Rio Seco this fall. But the fishing village in the shadow of Venezuela’s main refining hub bears the scars of deeper contamination. Boats with oil-stained hulls must now travel further out into the Caribbean to […]
Biden White House Faces A Rising China
(Reuters, 14.Dec.2020) — Donald Trump was clear with Latin America during his four-year administration: don’t do business with China. The message failed to hit home. As President-elect Joe Biden readies to enter the White House on Jan. 20, Beijing has tightened its grip over vast swathes of the resource-rich region […]
New Electricity Tariff In Cuba To Protect Vulnerable
(Prensa Latina, 14.Dec2020) — The new electricity tariff to be implemented in Cuba next January 1 as part of the monetary regulation process, will protect vulnerable families, a government practice in force on the island. Cuban Deputy Prime Minister Alejandro Gil explained that the increase in prices will occur in […]
Iran Uses Disguised Tanker To Export Venezuelan Oil
(Reuters, 14.Dec.2020) — A tanker chartered by the National Iranian Oil Company (NIOC) is loading Venezuelan crude for export, documents from state-run PDVSA show, providing evidence of the two countries’ latest tactics to expand their trade in defiance of U.S. sanctions. Venezuela and Iran have deepened their cooperation this year […]
Ecopetrol Eyes Capex of $3.5-$4bn In 2021
(Ecopetrol, 14.Dec.2020) — Ecopetrol S.A.’s Board of Directors approved the 2021 organic investment plan for the Ecopetrol Group (GE) for an estimated amount between $3.5bn and $4bn. HIGHLIGHTS – The investment plan approved by the Board of Directors is oriented towards restoring the Ecopetrol Business growth’s path, increasing competitiveness, strengthening […]
ExxonMobil Reveals Emission Reduction Plans
(Exxon, 14.Dec.2020) — ExxonMobil plans further reductions in greenhouse gas emissions over the next five years to support the goals of the Paris Agreement and anticipates meeting year-end 2020 reductions. — Greenhouse gas plans consistent with goals of Paris Agreement — Sets 2025 greenhouse gas emission reduction plan: intensity of […]
Caribbean Refinery Sells First Product After Delay
(Reuters, 14.Dec.2020) — Caribbean refinery Limetree Bay Ventures sold the first oil product to a buyer in the Gulf Coast on Monday, according to a shipbroking source and Refintiv Eikon data, nearly a year after the long-shuttered facility was expected to restart. Oil major BP Plc took delivery of approximately […]
Biden Presidency To Reset US Sanctions Focus
(Argus, 14.Dec.2020) — Washington’s failure in the past two years to force regime change in Caracas by means of severe sanctions gives the incoming US administration of president-elect Joe Biden an opportunity to try a more diplomacy-focused approach. Biden’s policy goal for Venezuela — ensuring a free and fair election […]
Argentine And Bolivian Energy Ministers Discuss Gas
(Energy Analytics Institute, 11.Dec.2020) — Bolivia’s Hydrocarbons and Energy Minister Franklin Molina Ortiz held a virtual meeting with Argentina’s Energy Secretariat DarĂo MartĂnez to discuss issues related to a common energy agenda between both countries. The aim of the discussion was to strengthen ties based on the economic reactivation of […]
Brazil Removes 32 Sensitive, Offshore Blocks From Round
(S&P Global Platts, 11.Dec.2020) — Brazil’s National Energy Policy Council, or CNPE, dealt a sharp blow to the country’s offshore exploration and production program by removing 32 high potential but environmentally sensitive offshore blocks from the upcoming 17th bid round during the policymaking board’s Dec. 9 meeting. The removal of […]
Mexico Wrapping Up 2021 Oil Hedging Program
(Reuters, 11.Dec.2020) — Mexico is wrapping up purchases for the 2021 edition of an oil hedging program that insures its revenues from oil sales, sources familiar with the legendarily opaque trade said, following a particularly challenging year. Negotiations to purchase the bulk of the financial contracts that protect Mexico against […]
Venezuela Disrupts Plan To Attack Refinery
(Reuters, 11.Dec.2020) — Venezuela’s Oil Minister Tareck El Aissami said on Friday that authorities had disrupted a plan to attack Venezuela’s 146,000-barrel-per-day (bpd) El Palito refinery, and had arrested two suspects in the plot. El Aissami alleged, without providing evidence, that the planned attack had the support of the Colombian […]
Petrobras Inks Deal To Divest Onshore Sergipe Field
(Petrobras, 11.Dec.2020) — Petrobras, following up on the release disclosed on 01/03/20, informs that it signed today with Energizzi Energias do Brasil Ltda a contract for the sale of its entire stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe. The […]
Petronas Finds Hydrocarbon In Offshore Suriname
(Petronas, 11.Dec.2020) — Petronas through its subsidiary, Petronas Suriname E&P B.V. (PSEPBV) made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52. PSEPBV is the operator of Block 52 and holds 50% participating interest, together with ExxonMobil Exploration and […]
Exxon And Petronas Find Oil Offshore Suriname
(Exxon, 11.Dec.2020) — ExxonMobil and Petronas have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52 offshore Suriname, adding to ExxonMobil’s extensive finds in the Guyana-Suriname basin. The well was drilled by operator Petronas, and the discovery is being evaluated to determine its resource potential.“Our first discovery in Suriname […]
Total Closes Participation in the EnergĂa Costa Azul LNG Export Project
(Total, 10.Dec.2020) — Total, Sempra LNG and IEnova signed binding agreements finalizing Total’s equity investment in the EnergĂa Costa Azul liquefied natural gas export project (ECA LNG), located in Baja California, Mexico. Total now holds a 16.6% equity share of the project, for which the final investment decision was taken last […]
Petrobras Starts Marlim Cluster Non-binding Phase
(Petrobras, 10.Dec.2020) — Petrobras, following up on the release disclosed on 16 November 2020, informs the beginning of the non-binding phase regarding the sale of 50% of its stakes in the concessions of Marlim, Voador, East Marlim and South Marlim, together called the Marlim Cluster, located predominantly in deep waters […]
Petrobras Eyes Dividend Payment For 2019
(Petrobras, 10.Dec.2020) — Petrobras informs it will pay, on Tuesday, 15 December 2020, dividends referred to the 2019 fiscal year, based on shareholding position as of 22 July, in connection to the Material Fact released on that date. The dividends to be paid will be adjusted by Selic interest rate […]
McDermott Awarded Deal By BHP For Trion Project
(McDermott, 10.Dec.2020) — McDermott International, Ltd announced it has been selected by BHP PetrĂłleo Operaciones de MĂ©xico, S. De R.L. De C.V. to perform the preliminary Front-End Engineering Design (pre-FEED) extension phase for a Floating Production Unit (FPU) that could be installed in a water depth of approximately 8,200 ft […]
PdV Turns Refinery Repair Effort To Puerto La Cruz
(Argus, 10.Dec.2020) — PdV has restarted a crude distillation unit at its 190,000 b/d Puerto La Cruz refinery for the first time since 2017, but as with the Venezuelan state-owned company’s other refinery repair efforts, expanding and sustaining operations remains a challenge. Atmospheric distillation unit 1 (DA-1) restarted gradually over […]
![NGOs Vital In Helping With Humanitarian Crisis [Video]](https://energy-analytics-institute.org/wp-content/uploads/2019/02/NewsRoomHeaderRight-citgo.jpg)
NGOs Vital In Helping With Humanitarian Crisis [Video]
(Citgo, 10.Dec.2020) — NGOs and other private philanthropic groups are increasingly critical in helping address the deteriorating humanitarian crisis in Venezuela, according to three diverse panels of leading experts recently convened in Houston via webinar by the SimĂłn BolĂvar Foundation. Panelists from the international development and humanitarian relief sector pointed […]
Trenes Argentinos And IEASA Ink Renewable Deal
(Energy Analytics Institute, 9.Dec.2020) — Argentina’s Energy Secretariat Dario Martinez and the country’s Transport Minister Mario Meoni signed a collaboration deal to stimulate investments in electricity generation projects using renewable sources. The deal involves Trenes Argentinos and IEASA, Martinez announced 7 December 2020 in a post on Twitter. “We agree […]