(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 […]
Category: Latin America and the Caribbean
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 […]
Argentina And Chile Briefs: IMF Debt, Pension Reform
(Energy Analytics Institute, 11.Nov.2020) — Briefs on Argentina and Chile related to IMF officials in Argentina to renegotiate around $44bn in debt and tensions rise in Chile over pension reform. IMF In Argentina To Renegotiate $44bn In Debt (Energy Analytics Institute, 11.Nov.2020) — Officials with the International Monetary Fund (IMF) […]
Venezuela Oil Exports Between 1999-2019
(Energy Analytics Institute, 10.Nov.2020) — Venezuela, home to the largest crude oil reserves and sizeable natural gas reserves, reported total oil exports of $984.9bn between 1999 and the first quarter of 2019, according to data from Venezuelan lawmaker Elias Matta. Table: Venezuela’s Oil Exports Year $bn 1999 $16.7 2000 $27.9 […]
Goliathberg Voltzberg North To Spud Offshore Suriname
(Energy Analytics Institute, 10.Nov.2020) — Ratio Suriname, an affiliate of Tel Aviv-based Ratio Petroleum announced the decision to drill the Goliathberg Voltzberg North (GVN) prospect in Suriname’s Block 47 during the first quarter of 2021. What follows is an update from Ratio related to its activities on Block 47 offshore […]
Braskem On Carbon Neutrality By 2050
(Braskem, 10.Nov.2020) — Braskem, the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, announces its latest sustainability ambitions to significantly expand its efforts to eliminate plastic waste in the environment by 2030 and to achieve carbon neutrality by 2050. In 2009, Braskem launched the […]
ANH Readies For Second Pilot Project Round
(Energy Analytics Institute, 10.Nov.2020) — Colombia’s National Hydrocarbons Agency will conduct a second round for the award of Special Research Project Contracts (CEPI by its Spanish acronym). “The purpose of the projects is to be able to acquire sufficient scientific information to make decisions on the technical use of hydraulic […]
Guyana Says Getting Better Oil Deal
(Energy Analytics Institute, 10.Nov.2020) — The government of Guyana, the newest petro-state in the Latin America and Caribbean region, announced it has made strides in extracting better benefits from oil contracts signed with oil and gas companies exploring offshore including Exxon, Hess and CNOOC, and in particular starting with the […]
Equinor Awards Bacalhau Drilling Contracts
(Equinor, 10.Nov.2020) — Equinor has, on behalf of the partners ExxonMobil and Petrogal Brasil, awarded Baker Hughes, Halliburton and Schlumberger contracts for drilling and well services on the Bacalhau field in Brazil. The total value of the three contracts is estimated at $455mn. The contracts have a firm period of […]
Ortiz To Head Bolivia’s Hydrocarbons Ministry
(Energy Analytics Institute, 9.Nov.2020) — Bolivia’s President Luis Arce Catacora appointed Franklin Molina Ortiz as the country’s new Hydrocarbons and Energy Minister. Molina is a native of Santa Cruz and an energy sector consultant. He studied Economics at the Universidad AutĂłnoma Gabriel RenĂ© Moreno (UAGRM) in Santa Cruz and has […]
YPF To Boost Output In The RincĂłn del Mangrullo Block
(Energy Analytics Institute, 9.Nov.2020) — Argentina’s YPF plans to drill 24 wells in the RincĂłn del Mangrullo Block at two unconventional developments between now and 2021. The developments on the block include tight gas in the Mulichinco formation and shale gas in the Vaca Muerta formation, YPF announced 9 November […]
Peru Looks To 2021 Elections Amid Political Uncertainties
(Energy Analytics Institute, 9.Nov.2020) — Peru’s Congress is eyeing presidential elections in 2021 amid turmoil created by the impeachment of President MartĂn Vizcarra Cornejo owing to corruption allegations. Peru’s Congress approved Vizcarra’s vacancy in a special session on 9 November 2020 in what it deemed in an official statement as […]
Essar, Raizen And Ultra Eye Bid For Petrobras’ Refinery
(Reuters, 9.Nov.2020) — Brazil’s Petroleo Brasileiro SA is set to receive binding offers on Dec. 10 for its Rio Grande do Sul state refinery Refap, with Indian conglomerate Essar Group and local firms Raizen and Ultrapar Participacoes SA among its potential bidders, people familiar with the negotiations said. All three […]
Peru’s President MartĂn Vizcarra Impeached
(Energy Analytics Institute, 9.Nov.2020) — Peru’s President MartĂn Vizcarra was impeached over the weekend after a vote over corruption allegations. Manuel Merino, the head of Peru’s Congress, will assume the presidency until July 2021, the period in which Vizcarra’s presidential term was set to expire, according to local reports in […]
60 Vehicles Dispatched To Paraguana Refining Complex
(Energy Analytics Institute, 9.Nov.2020) — Venezuela’s state oil company PetrĂłleos de Venezuela (PDVSA) dispatched 60 vehicles to the Paraguaná Refining Center (CRP by its Spanish acronym), located in the state of FalcĂłn. The fleet is intended to strengthen CRP’s operations at both the 645,000 barrel per day capacity Amuay and […]
Petroamazonas EP Gets New Manager Franklin Paredes
(Energy Analytics Institute, 8.Nov.2020) — The Board of Directors of PetroAmazonas EP, led by the Ecuador’s Minister of Energy and Non-Renewable Natural Resources RenĂ© Ortiz and the Chairman of the Board of the Public Companies Coordinating Company (EMCO EP) JosĂ© AndrĂ©s LĂłpez, appointed Franklin Paredes Galeas as deputy general manager […]
Argentina’s Gas Output At 125.5 MMcm/d Thru August
(Energy Analytics Institute, 6.Nov.2020) — Argentina’s production of natural gas averaged 125.5 million cubic meters per day (MMcm/d) or 4.43 billion cubic feet per day (Bcf/d) in the eight months between January and August of 2020, according to data from the country’s Energy Secretariat. Argentina’s two biggest producers were YPF […]
Petrobras Finalizes BaĂşna Field Divestment
(Petrobras, 6.Nov.2020) — Petrobras, following up on the releases disclosed on 24 and 28 July 2020, concluded the sale of its entire stake in the BaĂşna field (BM-S-40 concession area), located in shallow waters in the Santos Basin, to Karoon PetrĂłleo & Gás Ltda (Karoon), a subsidiary of Karoon Energy […]
Bolivia Briefs: Diesel Subsidy Funding; Añez On Economy
(Energy Analytics Institute, 6.Nov.2020) — Energy and economic briefs from land-locked Bolivia regarding issues related to funding for the country’s diesel subsidy and interim president Jeanine Añez saying the economy is rising. Bolivia Faces Diesel Subsidy Funding Issues (Energy Analytics Institute, 6.Nov.2020) — Bolivia could be in a position in […]
Argentina’s Oil Output At 483,453 B/D Thru August
(Energy Analytics Institute, 6.Nov.2020) — Argentina’s production of crude oil averaged 483,453 barrels per day in the eight months between January and August of 2020, according to data from the country’s Energy Secretariat. Argentina’s two biggest producers were YPF and Pan America Energy, which produced 46.4% and 21.7% respectively of […]
BP Eyes First Matapal Gas Production In 2022
(Energy Analytics Institute, 6.Nov.2020) — BP Trinidad and Tobago (bpTT) commenced drilling the first well of a three well Matapal development. Once finalized, these wells will be tied into the nearby Juniper platform with first natural gas flows slated for 2022. Drilling of the first well is slated to be […]
Apache’s CEO Highlights Suriname On 3Q:20 Call
(Seeking Alpha, 5.Nov.2020) — Apache Corporation CEO John Christmann led the company’s third quarter of 2020 conference call to discuss results with analysts. What follows is the complete transcript of the call. Company Participants Gary Clark – Vice President of Investor Relations John Christmann – Chief Executive Officer & President […]
McDermott On 2nd Shipment Of MODEC FPSO Modules
(McDermott, 5.Nov.2020) — McDermott International, Ltd announced the second shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC). It comes just weeks after the first shipment of modules sailed away from McDermott’s Altamira fabrication facility located in Mexico. The FPSO will be […]
Frontera Announces 3Q:20 Results
(Frontera, 4.Nov.2020) — Frontera Energy Corporation reported financial and operational results for the third quarter ended 30 September 2020. All financial amounts in this news release are in United States dollars, unless otherwise stated. During the third quarter, the company acquired control of Infrastructure Ventures Inc. (“IVI“), the parent company […]
Petrobras Commences Ceará E&P Assets Binding Phase
(Petrobras, 4.Nov.2020) — Petrobras, following up on the release disclosed on 7 August 2020, informs the beginning of the binding phase regarding the sale of its entire stake in the fields in shallow waters of Tuna, CurimĂŁ, Espada and XarĂ©u (Ceará Cluster), located in the state of Ceará. Potential buyers […]
Apache Highlights Suriname And Egypt On 3Q:20 Call
(Apache, 4.Nov.2020) — Apache Corporation announced its financial and operational results for the third quarter 2020, highlighting activities in Suriname and Egypt. Key Takeaways — Upstream capital investment significantly below guidance in the third quarter; reduced full-year 2020 capital outlook to $1bn; — Increased estimated annual run-rate cost savings associated […]
Petrobras Cuts Natural Gas Price For Distributors
(Petrobras, 4.Nov.2020) — Petrobras has readjusted, on 1 November 2020, the sales prices of natural gas for distributors for the contracts started in January. The adjustments occurred according to parameters negotiated in contractual formulas, due to variations in Brent oil prices and the Real/Dollar exchange rate in the last quarter. […]
Petrobras Reveals Teaser For Bahia E&P Assets
(Petrobras, 4.Nov.2020) — Petrobras informs that it has started the opportunity disclosure stage (teaser), referring to the sale of all of its stakes in a set of twenty-eight onshore production field concessions, with integrated facilities, located in the RecĂ´ncavo and Tucano Basins, in different municipalities of the state of Bahia, […]
Talos Energy Provides Operational Results
(Talos, 4.Nov.2020) — Talos Energy Inc. announced its financial and operational results for the third quarter of 2020. Key Highlights: — Production of 48.6 thousand barrels of oil equivalent per day (MBoe/d), of which 67% was oil and 74% was liquids. Production for the quarter was significantly impacted by deferrals […]
Heard: Petronas Spuds Well Offshore Suriname
(Energy Analytics Institute, 4.Nov.2020) — Malaysia-based Petronas and US-based ExxonMobil have commenced drilling of an exploratory well offshore Suriname in Block 52, according to sources close to Energy Analytics Institute (EAI). Prior to the start of summer, Petronas’ Vice President of Exploration Emeliana Rice-Oxley said the company would drill a […]
Petrobras Creates Climate Change Exec Management
(Petrobras, 3.Nov.2020) — Petrobras, reinforcing the growing importance of the transition to low carbon in the company, informs the creation of the Climate Change Executive Management, which will be responsible for leading actions related to carbon management, reduction of air emissions, energy efficiency and climate change. The new structure will […]
Touchstone Raises $30mn In Private Placement
(Touchstone, 2.Nov.2020) — Touchstone Exploration Inc. placed 24,291,866 new common shares of no par value (the “Placing Shares”) with institutional and other investors in the United Kingdom and Canada at a price of 95 pence per Placing Share (approximately C$1.64) (the “Placing Price”), raising gross proceeds of approximately $30mn (approximately […]
CEOs At PetroEcuador And PetroAmazonas Resign
(Energy Analytics Institute, 3.Nov.2020) — The CEOs of Ecuador state oil entities EP PetroEcuador, Ricardo Merino, and PetroAmazonas EP, Juan Carlos Bermeo, resigned within a 24-hour period over the weekend, reported online newspaper El Universo. Issues weighing in on both departures include fees related to Ecuador’s Oleoducto de Crudos Pesados […]
YPF Fuels Wins Top TierTM Certification
(Energy Analytics Institute, 3.Nov.2020) — Fuels produced by Argentina’s YPF again won the Top TierTM international certification, which is promoted by the ten most important automotive companies in the North American market. YPF was the first company in the region and the only one in Argentina to be part of […]
Petrobras Reinforces Climate Change Initiatives
(Petrobras, 3.Nov.2020) — Petrobras, reinforcing the growing importance of the transition to low carbon in the company, informs the creation of the Climate Change Executive Management, which will be responsible for leading actions related to carbon management, reduction of air emissions, energy efficiency and climate change. The new structure will […]
Venezuela Briefs: Black Mkt Gasoline; Diesel Demand
Energy briefs from Venezuela on prices for black market gasoline reaching $11.36/gal and refineries owned by PDVSA only producing enough diesel to cover 25% of domestic demand.
Does Venezuela Need A New Hydrocarbon Law? Webinar
(Energy Analytics Institute, 3.Nov.2020) — Does Venezuela need a new organic hydrocarbons law? That’s the question to be addressed on 5 November 2020 by four Venezuelan oil sector officials in a Zoom webinar. The panel will include Luis Pacheco, Francisco Monaldi, Luis Stefanelli and Elias Matta. __________ By Piero Stewart. […]
Case Against Venezuela’s Oil Minister Hits Another Snag
(AP, 3.Nov.2020) — The prosecution of Venezuela’s Oil Minister Tareck El Aissami for violating U.S. sanctions has run into another snag after a federal judge allowed one of his co-defendants to withdraw a guilty plea over allegations that U.S. attorneys withheld evidence in the case. Federal prosecutors in Manhattan on […]
Touchstone Proposes Up To $30mn Private Placement
(Touchstone, 2.Nov.2020) — Touchstone Exploration Inc. proposed placing in the UK and Canada of up to $30mn (approximately ÂŁ23.2mn and C$40mn) through the issue of common shares of no par value (the”Placing Shares”) with institutional and other investors in the United Kingdom and Canada. In the event of excess demand, […]
Executives At Ecuador’s State Oil Entities Resign
(Reuters, 2.Nov.2020) — The chief executives of Ecuador’s two state-owned oil companies resigned over the weekend ahead of a planned merger of the two firms, the country’s energy ministry said in a statement on Monday. The government has said the merger of Petroecuador, which controls the country’s oil refineries, and […]
Venezuela Oil Exports Fall to New Lows
(Reuters, 2.Nov.2020) — Venezuela’s oil exports fell to a historic low of 359,000 barrels per day (bpd) in October as most of state-run PDVSA’s long-term clients paused trade to meet a U.S. deadline to halt business with the firm, according to data seen by Reuters on Monday. The United States […]
YPFB To Boost Fuel Supplies For “Todos Santos” Weekend
(Energy Analytics Institute, 31.Oct.2020) — Yacimientos PetrolĂferos Fiscales Bolivianos (YFB) announced plans to boost fuel volumes to supply the general population over the weekend and through the “Todos Santos” holiday, according to an internal report from the Department of Corporate Commercialization at the state entity. The increased volumes are needed […]
Dubai Investment Team Visits With Guyana
(Guyana Natural Resources Ministry, 31.Oct.2020) — A high-level team from the Private Office of His Highness Sheikh Ahmed Dalmook Al Maktoum, member of the ruling family of Dubai paid a courtesy call on Natural Resources Minister, Hon. Vickram Bharrat to seek and discuss investment opportunities, and strengthen collaboration with Guyana. […]