(Argus, 29.Oct.2020) — Guyana is negotiating a gas price with ExxonMobil for a gas-to-power project to be commissioned at the end of 2023, government officials said this week. The US major would supply the gas from the deepwater Stabroek block where it started crude production at the Liza field in […]
Category: Latin America and the Caribbean
Petrobras Updates On Dividend Policy
(Petrobras, 28.Oct.2020) — Petrobras informs that its Board of Directors, in a meeting held yesterday, approved the revision of the Shareholders Compensation Policy in order to enable the Management to propose the payment of dividends compatible with the company’s cash generation, even in years with accounting losses. With the changes […]
Sungrow Crosses 1 GW Of PV Inverter Shipment In Chile
(Sungrow, 28.Oct.2020) — Sungrow, the global leading inverter solution supplier for renewables, announced that the Company hit 1 GW PV inverter cumulative shipment to Chile and took first place in the shipment ranking in Chile this year, contributing to Chilean renewable energy deployment and coal power phase-out national targets. Chile is […]
Hess Reports 3Q:20 Results, Ups Guyana Resources
(Hess, 28.Oct.2020) — Hess Corporation reported a net loss of $243 million, or $0.80 per common share, in the third quarter of 2020, compared with a net loss of $212 million, or $0.70 per common share, in the third quarter of 2019. On an adjusted basis, the Corporation reported a […]
Maduro Says Amuay Hit By ‘Terrorist Tttack’
(Reuters, 28.Oct.2020) — Venezuelan President Nicolas Maduro on Wednesday said the country’s Amuay oil refinery was victim of a terrorist attack on Tuesday that involved a “powerful weapon”, but said the country had gasoline reserves equivalent to 20 days of consumption. An explosion hit a distillation unit at the 645,000 […]
Ecopetrol’s 3Q:20 Earnings Call Transcript
(Seeking Alpha, 28.Oct.2020) — Colombia’s Ecopetrol announced it 3Q:20 earnings results. The transcript from the earnings conference call on 28 October 2020 with analyst follows. Company Participants Felipe BayĂłn – Chief Executive Officer Alberto Consuegra – Chief Operating Officer Jaime Caballero – Chief Financial Officer Yeimy Baez – Gas Vice […]
Ecopetrol Reports Positive 3Q:20 Results
(Ecopetrol, 28.Oct.2020) — Ecopetrol S.A. announced the Ecopetrol Group’s financial results for the third quarter and the first nine months of 2020. Financial results were prepared in accordance with the International Financial Reporting Standards applicable in Colombia. *Ebitda adjusted to exclude the effect of the Voluntary Retirement Plan amounts to […]
Ecuador Ends Maintenance At Shushufindi Gas Plant
(Energy Analytics Institute, 28.Oct.2020) — EP PetroEcuador finalized scheduled maintenance at the Shushufindi Gas Plant located in the SucumbĂos province. Work activities took place over 14 days and included an integral revision of the rotating and static equipment at the plant to guarantee operational safety and maintain production at its […]
Venezuela Briefs: Amuay Explosion; Cardon Gasoline
(Energy Analytics Institute, 27.Oct.2020) — Refinery briefs from Venezuela on another explosion at PetrĂłleos de Venezuela’s Amuay refinery and the restart of gasoline production at its Cardon refinery. Both refineries are located in Punto Fijo, Venezuela. Explosion At PDVSA’s Amuay Refinery An explosion at PDVSA’s Amuay refinery impacted the the […]
Petrobras Acquires FPSO P-71 For Itapu Field
(Petrobras, 27.Oct.2020) — Petrobras informs that, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil PetrĂłleo Ltda (25%) and Petrogal Brasil S.A. (10%), signed a commitment to purchase platform P-71, subject to the foregoing conditions related to milestones in the unit’s physical progress. It was also agreed to prepare […]
Financial Markets Are Not Venezuela’s Enemy
(Bloomberg, 27.Oct.2020) — The Guaido administration’s loss in a lawsuit over Citgo’s assets shows the folly of dragging international investors into the highly polarized conflict of Venezuelan politics. On October 16, Judge Katherine Polk Failla of the Southern District of New York dismissed an attempt by the administration of Juan […]
Petrobras Receives Proposal For Gaspetro
(Petrobras, 27.Oct.2020) — Petrobras informs, regarding the news published in the media, that it received yesterday binding proposals for the sale of its 51% stake in Gaspetro S.A. (Gaspetro) and the proposal of Compass Gás e Energia S.A. was one of those received. The receipt of binding proposals is one […]
Petrobras Approves Ethical Conduct Guide For Suppliers
(Petrobras, 27.Oct.2020) — Petrobras approved the Guide to Ethical Conduct for its suppliers. It is the first document exclusively aimed at our suppliers, with guidelines on expected values and ethical behavior. The Guide applies to all service companies, in Brazil or abroad, that are involved in business processes and have […]
Atlas Renewable Obtains $67mn Loan From IDB Group
(Atlas Renewable Energy, 26.Oct.2020) — Atlas Renewable Energy obtained a $67 million loan from IDB Invest, member of IDB Group, and from DNB Bank ASA (Norway) to finance the construction of Jacaranda, a 187MWp solar project being developed by Atlas Renewable Energy in Brazil, marking the first time that a […]
Karoon Energy Names Julian Fowles As New CEO
(Karoon Energy, 26.Oct.2020) — Karoon Energy Ltd announced Dr Julian Fowles has been appointed as Chief Executive Officer and Managing Director. Dr Fowles will commence with Karoon immediately following the conclusion of Karoon’s annual general meeting on 27 November 2020. Karoon Chairman, Bruce Phillips said, “After an extensive and rigorous […]
Highview Power And Enlasa To Develop Storage Projects
(Highview Power, 25.Oct.2020) — Highview Power, a global leader in long duration energy storage solutions, entered into a joint venture agreement with EnergĂa Latina S.A.-Enlasa, the largest backup power generation provider in Chile, to co-develop giga-scale cryogenic energy storage projects in Chile and other Latin American markets. The joint venture, […]
Venezuela Eyes Oil Output Of 1.829 MMb/d in 2021
(Energy Analytics Institute, 24.Oct.2020) — Venezuela’s oil minister Tareck El Aissami and PetrĂłleos de Venezuela (PDVSA) head AsdrĂşbal Chávez revealed plans to achieve a production goal of 1,829,000 barrels per day in 2021, according to data published by the daily Venezuelan newspaper Panorama. The officials also revealed an average budget […]
Seeds Energy Inaugurates Biogas Plant
(Energy Analytics Institute, 24.Oct.2020) — Seeds Energy Group remotely inaugurated its biogas plant located in Venado Tuerto, Santa Fe where it plans investments of $12mn. The plant will contribute 2 megawatts of clean electrical power to the city’s network and around 40,000 tons per year of biofertilizers from corn marl […]
Sign of Venezuela’s Oil Collapse Is Storage Surge
(Bloomberg, 23.Oct.2020) — Venezuelan crude inventories have surged 84% over the last three weeks as the threat of U.S. sanctions ward away buyers of the nation’s most important commodity. That raises the risk that state-run PDVSA will have to start shutting in production again, and is the latest sign that […]
Petrobras Reveals Teaser For Sergipe E&P Assets
(Petrobras, 23.Oct.2020) — Petrobras informs that it has started the opportunity disclosure stage (teaser), referring to the sale of a set of eleven onshore production field concessions, with integrated facilities, located in the Sergipe-Alagoas Basin, in different cities in the state of Sergipe, jointly called the CarmĂłpolis Cluster. The teaser, […]
Venezuela Briefs: LPG Shortage, Eni On Nabarima
(Energy Analytics Institute, 23.Oct.2020) — Energy briefs from Venezuela regarding ongoing shortages of liquefied petroleum gas (LPG) and Italy’s Eni submitting a proposal regarding the offloading of FSO Nabarima. Heard On The Street: Citizens Using Firewood An ongoing shortage of liquefied petroleum gas (LPG), which is widely used across Venezuela […]
Karoon Gets ANP Approval For BaĂşna Acquisition
(Karoon Energy, 23.Oct.2020) — Karoon Energy Ltd provided the market with the following update on the BaĂşna asset acquisition: — Karoon announced the Board of Directors of the AgĂŞncia Nacional do PetrĂłleo, Gás Natural e BiocombustĂveis (ANP) has approved with conditions, at a board meeting on 22 October 2020, the […]
ANH Says 16 Companies Qualified For 3rd PPAA
(Energy Analytics Institute, 23.Oct.2020) — Colombia’s National Hydrocarbon Agency or ANH published a definitive list of 16 companies qualified for the third cycle of its Permanent Area Assignment Process (PPAA). The ANH received 19 requests from companies interesting in qualifying, but settled on 16 that will be able to present […]
Trinidad Briefs: Nabarima Stable, Budget Prices
(Energy Analytics Institute, 23.Oct.2020) — Energy briefs from Trinidad and Tobago related to an update on the status of the FSO Nabarima offshore Venezuela in the Gulf of Paria and commodity prices used in the 2021 budget. FSO Nabarima Stable, Not An Environmental Threat The FSO Nabarima located offshore Venezuela […]
Neuquén Targets 80 Rigs By March 2021: Gutiérrez Says
(Energy Analytics Institute, 22.Oct.2020) — Argentina’s NeuquĂ©n Province Governor Omar GutiĂ©rrez said joint work by companies and workers will allow the region to achieve a growth path that will allow drilling activity to recover to the levels exhibited before the pandemic. The official said approximately 80 rigs are projected to […]
Petrobras Concludes $1bn Global Notes Offering
(Petrobras, 22.Oct.2020) — Petrobras concluded the offering of its 5.60% Global Notes due January 2031 in the international capital market in the amount of $1bn (CUSIP No. 71647NBH1/ ISIN No. US71647NBH17), by means of its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF). Pricing of the notes occurred on October 13, […]
Frontera Reveals Details Of 3Q:20 Conference Call
(22.Oct.2020) — Frontera Energy Corporation will announce its third quarter results after the market closes on 4 November 2020 followed by a conference call with investors and analysts on 5 November at 8:00 a.m. (MST) and 10:00 a.m. (EST/GMT-5). Frontera participants will include Gabriel de Alba, Chairman of the Board […]
Petrobras Boosts Production Outlook
(Reuters, 20.Oct.2020) — Brazilian state-run oil company Petrobras said on Tuesday that 2020 production should exceed previously disclosed estimates, as the firm ramps up production at some of its most prolific offshore oilfields. Petroleo Brasileiro SA, as the company is formally known, said it expects to produce roughly 2.84 million […]
PDVSA’s Cardon Refinery Halts Operations
(Energy Analytics Institute, 20.Oct.2020) — PetrĂłleos de Venezuela’s Cardon refinery in Punto Fijo has once again halted operations. The stoppage impacts the recently restarted production of gasoline. “Refinery conditions are very worrying and the risk of accidents is very high,” oil union official Ivan Freites said 20 October 2020 in […]
Ecopetrol Reveals Date Of 3Q:20 Earnings Report
(20.Oct.2020) — Bogotá-based Ecopetrol SA plans to release its financial and operating results for the third quarter 2020 on 27 October 2020 after the market close. Senior management will host two conferences on 28 October to review the results, the company announced 20 October in an official statement. Details of […]
Vitol Recordings Expand Brazilian Oil Bribery Probe
(Reuters, 20.Oct.2020) — Brazilian police expanded a long-running corruption probe at state-controlled oil company Petroleo Brasileiro SA based in part on secret recordings made by a former executive of Swiss trading firm Vitol SA, according to court documents released on Tuesday. Police on Tuesday served warrants seeking documents from six […]
Compañia Argentina de Comodoro Buys NGX’s Interests In Argentina
(NGX Energy, 20.Oct.2020) — NGX Energy International Corp. (formerly CruzSur Energy Corp.) accepted an offer from Compañia Argentina de Comodoro Rivadavia Explotacion de PetrĂłleo S.A. and Financier S.A. (the “Purchaser”) to acquire 100% of NGX’s oil and gas interests in Alianza Petrolera Argentina S.A., the Argentine subsidiary through which NGX […]
Exmar Inks $150mn Agreement With YPF
(Energy Analytics Institute, 19.Oct.2020) — Belgium-based Exmar reached a $150mn settlement with Argentina’s state-controlled YPF SA related to a dispute under the Tango FLNG agreements. In the deal, YPF will pay the settlement to Exmar for consideration of the early termination of the Tango FLNG agreements, as announced on 25 […]
Petrobras Reveals Results Of Its Cash Tender Offers
(Petrobras, 20.Oct.2020) — Petrobras announces the expiration and expiration date results of the previously announced offers to purchase for cash by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) of any and all of its outstanding notes of the series set forth in the table below (the “Tender Notes” and […]
Petrobras Updates On 3Q:20 Production And Sales
(Petrobras, 20.Oct.2020) — Petrobras’ operational performance in 3Q20 was very good, considering the challenging scenario imposed by the COVID-19 pandemic. Our oil and gas production in Brazil grew by 9.0% in the first nine months of this year compared to last year. The production of the pre-salt fields increased by […]
Nabarima: Potential Oil Spill Larger Than Exxon-Valdez
(350.org, 20.Oct.2020) — While a record deluge of intensifying hurricanes hit the Caribbean and Gulf, many of the same communities are at risk of a slow-motion multi-million-gallon oil spill in the region, even larger than the infamous 1989 Exxon-Valdez spill which involved 10.8 million gallons. Amira Odeh, 350.org Caribbean and […]
TechnipFMC Inks EPCI Deal For Breidablikk Pipelay
(TechnipFMC, 19.Oct.2020) — TechnipFMC has been awarded a significant(1) Engineering, Procurement, Construction and Installation contract by Equinor for the Breidablikk Pipelay, including option for the Subsea Installation scope located in the area close to the Grane Field, North Sea. The Breidablikk project is a tie-back to the existing Grane platform. […]
Venezuela Needs To Rethink Oil: Luis Xavier Grisanti Says
(Energy Analytics Institute, 19.Oct.2020) — Faced with globalization and the scientific and technological revolution of the last quarter of a century, countries highly dependent on oil as the main source of income, such as Venezuela, must not only rethink rationally and effectively how to use the gigantic income derived from […]
Bolivia Briefs: Elections, Responses From Abroad
(Energy Analytics Institute, 19.Oct.2020) — Bolivia brief related to general elections held 18 October 2020 as well as initial responses from abroad. Bolivia’s Arce Says His Election Has “Recovered Hope” Bolivian leader Luis Arce, from the Movement Towards Socialism or MAS party, has been announced the clear winner in the […]
Luis Acre Restores Bolivia To Socialist Party Rule
(Argus, 19.Oct.2020) — Gas-rich Bolivia’s socialist party swept yesterday’s elections and will return to power by year’s end, but with a more pragmatic leader at its helm. Former finance minister Luis Arce won more than 50pc of the vote in two exit polls, topping his nearest rival, former president Carlos […]
Bolivia’s Arce Emerges As Presidential Winner
(Energy Analytics Institute, 19.Oct.2020) — Bolivian presidential hopeful Luis Arce appears to have won the country’s general election. “We still don’t have an official count, but from the data we have, Mr. Arce and Mr. Choquehuanca have won the election,” Bolivia’s interim president Jeanine Añez Chavez announced 19 October 2020 […]
EP PetroEcuador Restarts Activities At SOTE
(Energy Analytics Institute, 18.Oct.2020) — EP PetroEcuador restarted operations at the 360,000 barrel per day capacity Trans-Ecuadorian Pipeline System (SOTE by its Spanish acronym) after completion of construction works on the fourth variant on the pipeline. The variant, of 735 meters in length, was installed at kilometer 95 + 400 […]
Nabarima Floating Storage Tanker At Risk Of Sinking
(Energy Analytics Institute, 17.Oct.2020) — The Nabarima floating storage unit with around 1,180,000 barrels of oil and located offshore Venezuela’s Sucre state is at increased risk of sinking, an oil union official warns. Nabarima belongs to the Empresa Mixta PetroSucre, which partners state oil company PetrĂłleos de Venezuela (PDVSA) and […]
Petrobras Delays Bidding For Parque Das Baleias FPSO
(Energy Analytics Institute, 16.Oct.2020) — Rio de Janeiro-based PetrĂłleo Brasileiro SA or Petrobras, announced it has postponed the Integrated Project of Parque das Baleias by around a year; thus, pushing the start of production into 2024 compared to 2023, as originally planned. The Brazilian oil giant plans to preserve the […]
US Embassy In Trinidad Concerned About Nabarima
(Energy Analytics Institute, 16.Oct.2020) — The US Embassy in Trinidad and Tobago expressed continued concerns about the potential risk to safety and environment posed by the Venezuelan-flagged vessel, Nabarima. The vessel is carrying around 1.2-1.3 million barrels and is located in Venezuela’s Gulf of Paria. “We strongly support immediate actions […]
Petrobras Starts Alagoas Assets Binding Phase
(Petrobras, 15.Oct.2020) — Petrobras, following up on the release disclosed on 29 July 2020, informs the beginning of the binding phase regarding the sale of its entire stake in a set of seven onshore and shallow water concessions (Alagoas Cluster) located in the state of Alagoas. Potential buyers qualified for […]
Fernandez Announces Details Of Gas Plan 4
(Energy Analytics Institute, 15.Oct.2020) — Argentina’s President Alberto Fernández announced details of the country’s Gas Plan 4 during a visit to the Vaca Muerta formation. The gas plan aims to replace a good part of imported liquids with national gas production, generating estimated savings of $2.574bn over its four years […]
Bolivia General Election On The Horizon
(Energy Analytics Institute, 15.Oct.2020) — Populist leaders appear to be on the rise again and elections on the horizon in Latin America from Bolivia to Chile will be a test of citizens’ resolve for change amid the Covid-19 pandemic and economies in the region that have experienced near complete meltdowns. […]
Touchstone Reports Natural Gas Find At Chinook
(Touchstone, 14.Oct.2020) — Touchstone Exploration Inc. completed drilling the Chinook-1 exploration well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest). The well encountered significant hydrocarbon accumulations based on wireline log data. Chinook-1 is […]
Oceaneering Inks BOP Deal With Petrobras
(Oceaneering, 13.Oct.2020) — Oceaneering International, Inc. has been awarded a BOP tethering services contract offshore Brazil from Petrobras. The contract duration is one-year with the option to extend for an additional year. The scope of work includes data acquisition and real-time riser analysis for dynamic positioning rig operations for up […]