(Energy Analytics Institute, 25.Nov.2020) — Foreign exchange rate and energy related briefs from OPEC oil producer Venezuela related to the rising Bolivar currency as well as comments from President Nicolas Maduro about the financial standing of state oil producer Petroleos de Venezuela (PDVSA). Venezuela Bolivar Dollar Exchange Rate at Bs. […]
Category: Latin America and the Caribbean
Petrobras Reveals Strategic Plan 2021-2025, Cuts CAPEX
(Petrobras, 25.Nov.2020) — Petrobras announced its Board of Directors approved, in a meeting held today, the Strategic Plan for the five-year period 2021-2025 (SP2021-25). The plan maintains the five pillars that support the implementation of the company’s set of strategies: (i) Maximization of the return on capital employed; (ii) Reduction […]
Heard Venezuela: Falcon Oil Spill, Los Roques Buildout
(Energy Analytics Institute, 25.Nov.2020) — Heard on the street from Venezuela related to a supposed oil spill in Morrocoy National Park as well as word of commercial developments in Los Roques. Another Oil Spill In Falcon State Another oil spill is suspected off the coast of Morrocoy National Park in […]
New YPFB Head Zelaya Eyes Key Projects
(Energy Analytics Institute, 25.Nov.2020) — Wilson Zelaya Prudencio, the new executive president of Bolivia’s state oil company Yacimientos PetrolĂferos Fiscales Bolivianos (YPFB), eyes a short list of projects as he takes the helm at the company. Exploration is a priority, in addition to the start-up of the country’s ammonia and […]
The Esmeraldas refinery to produce high quality diesel
(Piero Stewart, Energy Analytics Institute, 24.Nov.2020) — Maintenance work at the non-catalytic units #2 and #3 of the Las Esmeraldas Refinery included repair work on the static, rotating, and electrical equipment as well as instruments in the following units: heavy naphtha hydrotreater, catalytic reformer, regeneration loop and diesel hydrodesulfurizer (HDS). […]
Heard Venezuela: Oil Sales To Chevron
(Energy Analytics Institute, 24.Nov.2020) — Heard on the street in Venezuela related to the sale of Venezuelan oil to US based company Chevron Corporation. OFAC License To Sale Oil To Chevron Discussions are said ongoing between US and Venezuelan officials regarding a plan that would entail a special OFAC license […]
Esmeraldas refinery to undergo maintenance work at non-catalytic units 2 and 3
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 24.Nov.2020, Words: 239) — EP PetroEcuador general manager Ricardo Merino supervised scheduled maintenance work at the non-catalytic units 2 and 3 of the Esmeraldas refinery. Work on the units will take around 47 days, PetroEcuador announced 24 Nov. 2020 in an official statement.
Petrobras Launches “More Value Program”
(Petrobras, 24.Nov.2020) — Petrobras launched the “More Value Program” (Programa Mais Valor), a new financial solution tool for suppliers. The pilot started last week and, in November 30th, the tool will be opened to companies interested in anticipating invoices with more competitive rates. The program seeks to stimulate the oil […]
Petrobras Release Dates For Petrobras Day
(Petrobras, 24.Nov.2020) — Petrobras informs that the Petrobras Day will be held in Portuguese on 30 November 2020 and in English on 1 December, when it will present its 2021-25 Strategic Plan. Petrobras will use the Microsoft Teams tool (link below) for the event: Petrobras Day Portuguese link Petrobras Day […]
Petrobras Updates On Papa-Terra Field Rumors
(Petrobras, 24.Nov.2020) — Petrobras, in relation to the news published in the media, regarding the divestment of the Papa-Terra field, Campos Basin, clarifies that the stage of receiving binding offers was completed on 29 September 2020. As a result, on 29 October, negotiations started with Starboard Asset Ltda (Starboard), a […]
Elliott Management Invests In Guyana Oil Explorer
(Reuters, 24.Nov.2020) — Activist hedge fund Elliott Management Corp has invested at least $30 million in Cataleya Energy, a small firm focused on oil exploration in Guyana, the world’s newest oil and gas hot spot, two people familiar with the matter said. The deal reflects rising interest in Guyana, a […]
Geopark To Divest 10% Stake In Manati Gas Field In Brazil
(GeoPark, 23.Nov.2020) — GeoPark Limited announced its Board of Directors has approved an agreement to sell its 10% non-operated working interest in the Manati gas field in Brazil to Gas Bridge S.A. The total consideration of the transaction amounts to R$144.4mn (approximately $27mn1), including a fixed payment of R$124.4mn plus […]
Canadian Solar Inks Deals With BTG And Furnas
(Canadian Solar, 23.Nov.2020) — Canadian Solar Inc., one of the world’s largest solar power companies, announced that it recently signed a power purchase agreement (PPA) with BTG Pactual and that it was awarded with two projects in a private auction by Furnas Centrais ElĂ©tricas for a total of 862 MWp […]
Braskem And Haldor Topsoe Production MEG From sugar
(Braskem, 23.Nov.2020) — Braskem, the largest petrochemical company in the Americas and a world leader in the production of biopolymers, and Denmark-based Haldor Topsoe, a global leader in supply of catalysts, technology, and services for the chemical and refining industries, have announced that they achieved their first-ever demo-scale production of […]
Maersk Drilling Picked For Two-rig Suriname Campaign
(Maersk, 23.Nov.2020) — Maersk Drilling has received a Conditional Letter of Award (CLOA) from Total E&P Suriname, Suriname Branch for the supply of two deepwater rigs, Mærsk Developer and Maersk Valiant, for an exploration and appraisal project in Suriname’s Block 58. The campaign is expected to commence in early 2021, […]
YPFB Eyes Gomero X1 IE Well In Northern Amazon
(Energy Analytics Institute, 23.Nov.2020) — Bolivia’s state oil company Yacimientos PetrolĂferos Fiscales Bolivianos (YPFB) is turning its attention to the Andean country’s northern Amazonian region with the drilling of the Gomero X1 IE stratigraphic research well located in the RĂo Beni Area, which includes the departments of Pando, Beni and […]
Petrobras Redeems Five Series Of Notes
(Petrobras, 23.Nov.2020) — Petrobras’ wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) has delivered notices of redemption to the holders of the outstanding 5.375% Global Notes due 2021 (“5.375% Notes”), 8.375% Global Notes due 2021 (“8.375% Notes”), 3.750% Global Notes due 2021 (“3.750% Notes”), 6.125% Global Notes due 2022 (“6.125% Notes”) […]
SNMPE Warns Of Issues Impacting Hydrocarbon Industry
(Energy Analytics Institute, 23.Nov.2020) — Peru’s hydrocarbon sector is on the verge of collapse due to the fall in the price of oil, the Covid-19 pandemic and persistent conflicts impacting the hydrocarbon sector in the country’s northern jungle region, warned Pablo de la Flor, executive director of Peru’s National Society […]
Bolivia Names Heads To YPFB And ANH
(Energy Analytics Institute, 20.Nov.2020) — Bolivia’s Hydrocarbons and Energy Minister Franklin Molina Ortiz appointed engineer Wilson Zelaya Prudencio as president of state oil and gas company Yacimientos Petrolifos Fiscales Bolivianos (YPFB). Germán Daniel JimĂ©nez Terán was also appointed as executive director of the country’s National Hydrocarbons Agency (ANH), Molina announced […]
YPFB Names Zelaya As New President
(Energy Analytics Institute, 20.Nov.2020) — Bolivia’s state oil and gas entity Yacimientos Petroliferos Fiscales Bolivianos (YPFB) named engineer Wilson Zelaya Prudencio as the company’s new executive president. Zelaya was born on 18 December 1965 in Camiri, Santa Cruz. He holds a degree in industrial mechanics engineering obtained in 1990 from […]
YPF Acquires Own Shares
(Energy Analytics Institute, 20.Nov.2020) — Argentina’s state-controlled oil and gas entity YPF Sociedad AnĂłnima (YPF) acquired its own shares in the market (articles 64 and related articles of the Capital Markets Law N°26.831) for the granting of share compensation plans. Between 13-20 November 2020 the Buenos Aires-based oil giant acquired: […]
Molina Says Bolivia Needs To Lower Liquids Subsidy
(Energy Analytics Institute, 19.Nov.2020) — Bolivia’s Hydrocarbons and Energy Minister Franklin Molina Ortiz said the country needs to lower its liquids subsidy and implement policies, programs and projects that help reduce the pressure of fuel imports. Molina blamed the previous government for fuel supply issues across the Andean country. “The […]
Venezuelan Union Leader Girot Detained
(Reuters, 19.Nov.2020) — Venezuelan authorities arrested oil workers’ union leader Eudis Girot, other union officials said on Thursday, as the government’s crackdown on dissent at troubled state oil company Petroleos de Venezuela continued. Girot, the executive director of the FUTPV union and an outspoken critic of PDVSA’s management, wrote in […]
Petrobras Starts CarmĂłpolis Cluster Non-binding Phase
(Petrobras, 19.Nov.2020) — Petrobras, following up on the release disclosed on 23 October 2020, informs the beginning of the non-binding phase regarding the sale of all of its stakes in a set of eleven onshore production field concessions, with integrated facilities, located in the state of Sergipe, jointly called the […]
Work Starts On Vuelta Larga, Tabiazo, Crnel Highways
(Energy Analytics Institute, 19.Nov.2020) — EP PetroEcuador general manager Ricardo Merino and Esmeraldas prefect Roberta Zambrano participated in the start of road rehabilitation work along the Vuelta Larga, Tabiazo and Crnel highways. Work will include maintenance and rehabilitation of 27.5 kilometers of the E15 road and require an investment of […]
Chevron Eyes Biden To Preserve Venezuela Foothold
(Bloomberg, 18.Nov.2020) — Chevron’s willingness to keep a foothold in oil-rich Venezuela will now be a thorny political issue for President-elect Joe Biden to sort out. The U.S. Treasury Department extended until June 3 its authorization for Chevron to carry out essential transactions in the country to preserve its assets, […]
Envision Commissions Wind Farm In Argentina
(Envision, 18.Nov.2020) — Envision Energy, a leading green tech company today announced the commissioning of Vientos Del Secano, a 50-megawatt wind farm in the Buenos Aires Province of Argentina. This is Envision’s second wind farm in Argentina, following last year’s successful completion of the 10-megawatt GarcĂa del RĂo wind farm […]
Petrobras Comments On Liquigás Divestment
(Petrobras, 18.Nov.2020) — Petrobras, following up on the release disclosed on 19 November 2019, informs the Administrative Council for Economic Defense (CADE), in a Court session held on this date, approved the sale of Liquigás Distribuidora S.A., a wholly-owned subsidiary of Petrobras, to the acquiring group composed of ItaĂşsa S.A., […]
Exxon’s To Plug Tanager-1 Well Offshore Guyana
(Westmount, 17.Nov.2020) — Westmount Energy Ltd., further to the announcement by Ratio Petroleum Energy Limited Partnership dated today, that the Tanager-1 well, offshore Guyana, has been reported as an oil discovery which is currently considered to be non-commercial as a stand-alone development. The Tanager-1 exploration well is the deepest well […]
Sempra Announces FID Of Costa Azul LNG Project
(Sempra Energy, 17.Nov.2020) — Sempra Energy announced that its subsidiary ECA Liquefaction (ECA LNG), a joint venture between Sempra LNG and Infraestructura EnergĂ©tica Nova, S.A.B. de C.V. (IEnova), has reached a final investment decision (FID) for the development, construction and operation of the ECA LNG Phase 1 natural gas liquefaction-export project […]
Frontera Inks Deal To Resolve Transport Disputes
(Frontera, 17.Nov.2020) — Frontera Energy Corporation, Cenit Transporte y LogĂstica de Hidrocarburos S.A.S. and Oleoducto Bicentenario de Colombia S.A.S. separately announced they have reached an agreement for the joint filing of a petition for a binding settlement which, upon completion and approval by the competent Colombian court, will resolve all […]
Argentina Offers Profit Repatriation For Gas Investment
(Argus, 17.Nov.2020) — Argentina’s government is offering hard currency access to energy companies that sign up to a new program designed to stimulate natural gas production through state-subsidized wellhead prices. The incentive partially lifts Argentina’s crippling restrictions on repatriating profits, long considered a drag on investment. The new gas plan, […]
Venezuela Supports Three Month Opec Extension
(Energy Analytics Institute, 17.Nov.2020) — Opec producer Venezuela continues to support a three month extension of production levels of 7.7 million barrels per day. “Venezuela ratifies its commitment to continue adopting the necessary decisions to guarantee the stability of the energy market,” Venezuela’s state owned Petroleos de Venezuela (PDVSA) announced […]
Petrobras Starts Non-binding Phase For Albacora
(Petrobras, 17.Nov.2020) — Petrobras, following up on the release disclosed on 25 September 2020, informs the beginning of the non-binding phase regarding the sale of all of its stakes in the Albacora and Albacora Leste concessions, located predominantly in deep waters in the Campos Basin. Potential buyers qualified for this […]
Petrobras Starts Teaser For Campos Basin Assets
(Petrobras, 16.Nov.2020) — Petrobras started the opportunity disclosure stage (teaser), referring to the sale of 50% of its stakes in the concessions of Marlim, Voador, Marlim Leste and Marlim Sul, together called the Marlim Cluster, located in deep waters in the Campos Basin. Petrobras will remain the operator of the […]
Peru’s Interim President Merino Resigns
(Energy Analytics Institute, 15.Nov.2020) — Congressional President Manuel Merino De Lama resigned as Peru’s interim presidency within less than a week of assuming the power void created by the impeachment of President MartĂn Vizcarra Cornejo. RELATED STORY: Peru looks to 2021 elections amid political uncertainties __________ By Piero Stewart. © […]
Mexico to Give Sempra LNG Export Permit
(Reuters, 13.Nov.2020) — Mexico will give the local unit of U.S.-based Sempra Energy an export permit for a liquefied natural gas (LNG) facility in northwest Mexico, as long as the company helps offset an oversupply of gas in the area, the president said on Friday. San Diego-based Sempra has previously […]
Ecuador Inaugurates $34.3mn La Concordia Line
(Energy Analytics Institute, 13.Nov.2020) — The new $34.3mn La Concordia-Pedernales transmission line in Ecuador will enhance productive, tourist and residential development in the ManabĂ province. Of the amount, the Inter-American Development Bank contributed $28.2mn, Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MERNNR) announced 13 November 2020 in an official […]
Brazil’s ANP To Hold 2nd Permanent Bid Round
(Energy Analytics Institute, 12.Nov.2020) — Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP by its Portuguese acronym) will hold its second permanent bid round where it will offer 14 sectors from exploratory blocks in nine basins (Santos, EspĂrito Santo, Campos, Paraná, Amazonas, RecĂ´ncavo, Sergipe-Alagoas, Potiguar and Tucano) as well […]
EP PetroEcuador Awards $54.8mn Insurance Policy
(Energy Analytics Institute, 12.Nov.2020) — Ecuador’s state oil and gas company EP PetroEcuador awarded an $54.8mn insurance to Hispana de Seguros to cover all oil risks as well as maritime civil and non-maritime civil liabilities. The decision “complies with all public procurement regulations,” online media El Comercio reported on 12 […]
PetroAmazonas EP Producing 408,163 B/D
(Energy Analytics Institute, 12.Nov.2020) — Production from Ecuador’s state entity in charge of oil and gas exploration and exploitation, PetroAmazonas EP, reached 408,163 barrels per day (b/d) on 12 November 2020. Private companies in Ecuador contributed another 103,424 b/d, PetroAmazonas announced in an official statement. As a result, Ecuador’s total […]
Petrobras Board Approves Deadline For Sete Brasil Deal
(Petrobras, 12.Nov.2020) — Petrobras, following up on the release disclosed on 28 September 2020, announced its Executive Board approved a new change in the deadline for certain conditions set forth in the agreement signed with Sete Brazil to be implemented. The effectiveness of the agreement and of the other related […]
Colombia Bid Round To Investigate Fracking Projects
(Reuters, 11.Nov.2020) — Colombia will hold a second bidding round to potentially grant contracts to companies interested in exploring non-conventional oil and gas deposits, using techniques like fracking, the National Hydrocarbons Agency (ANH) said. Majority state-owned oil company Ecopetrol, Exxonmobil, and Drummond already have contracts for investigative projects and may […]
Court Annuls Petros Sentence Arbitration
(Petrobras, 11.Nov.2020) — Petrobras, following up on the releases disclosed on 21 and 29 July, 26 August and 9 October 2020, hereby informs that a judicial decision was issued at the end of yesterday, by the 5th Business Court of Rio de Janeiro, which annulled, due to serious flaws and […]
Pampa EnergĂa Announces Quarterly Results
(Pampa EnergĂa, 11.Nov.2020) — Pampa EnergĂa S.A., the largest independent energy integrated company in Argentina, with active participation in the country’s electricity and gas value chain, announces the results for the nine-month period and quarter ended on 30 September 2020. As from January 1, 2019, the company adopted US$ as […]
Peru LNG Continues Ops Amid Political Turmoil
(Energy Analytics Institute, 11.Nov.2020) — Operations at Peru LNG, the company that runs South America’s first gas liquefaction plant located in Pampa Melchorita, have yet to be affected by the recent impeachment of Peru’s President MartĂn Vizcarra. Peru LNG is comprised of a 408-kilometer gas pipeline, a liquefied natural gas […]
Slew Of Tankers Head Toward Venezuela
(Reuters, 11.Nov.2020) — At least 18 oil tankers are expected to load oil for export from Venezuela in the coming weeks, according to tracking data and internal documents from state-run PDVSA, in a sign the sanctioned OPEC nation’s crude exports may rebound this month. Venezuela’s oil exports fell to their […]
YPF Reports $482mn Net Loss In 3Q:20
(Energy Analytics Institute, 11.Nov.2020) — Argentina’s state-controlled YPF announced operating and financial results for the third quarter of 2020. What follows is a summary of key data. MAIN HIGHLIGHTS OF 3Q:20 — Revenues rose 19.5% sequentially on the back of a significant recovery in fuels´ sales and stabilization in oil […]
YPF Faces Mountain Of Debt Payments
(Energy Analytics Institute, 11.Nov.2020) — Argentina’s state owned oil and gas entity YPF will face around $8.05bn in debt payments between the fourth quarter of 2020 and 2026 and beyond. Despite the taunting payment schedule, YPF has made some strides, company executives said 11 November 2020 during the company’s presentation […]
Exxon Guyana Conducts Maintenance Operations
(Energy Analytics Institute, 11.Nov.2020) — ExxonMobil Guyana recently conducted maintenance on some oil spill response equipment located offshore the small South America country. “This maintenance and training activity involved deploying some offshore boom that would be used in the event of a spill,” Exxon said 11 November 2020 in a […]