(Hess, 5.Oct.2020) — Hess entered into an agreement to sell its 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico to BHP Billiton, the field’s operator, for a total consideration of $505mn, subject to customary adjustments, with an effective date of 1 July 2020. The field […]
Category: Latin America and the Caribbean
Guyana Lists Flaring Production License Details
(Energy Analytics Institute, 5.Oct.2020) — Guyana’s Ministry of Natural Resources released flaring highlights related to the country’s petroleum production licenses. __________ By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.
Venezuela Aims To Reopen Some 1,571 Petrol Stations
(Energy Analytics Institute, 5.Oct.2020) — Venezuela plans to initiate activities at 1,571 petrol stations across the country starting 5 October 2020 as part of a plan to normalize fuel distribution and marketing. All petrol stations must be active and able to supply fuel including stations with international prices, announced state […]
Quick Comparison: Liza 1 And Payara Developments
(Energy Analytics Institute, 5.Oct.2020) — Major differences in the licenses for the Liza Phase 1 and Payara developments offshore Guyana in the Stabroek Block as provided by Guyana’s Ministry of Natural Resources and summarized here within. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest […]
Bolivia Eyes Lithium, Coipasa Salt Flat
(Energy Analytics Institute, 5.Oct.2020) — The industrialization of lithium in the Coipasa salt flat, located in Oruro, includes installation of a complex that will allow for annual production of 25 tons of battery-grade lithium carbonate. Details were revealed during a presentation by José Luis Toco, the Vice Minister of High […]
Bolivia’s Añez Says She Will Respect Election Results
(Energy Analytics Institute, 4.Oct.2020) — Bolivia’s interim president Jeanine Añez expressed her commitment to enforce the popular will expressed in the results of the general elections on 18 October 2020. “We have been committed from the beginning and we want to tell the entire population we’re going to enforce the […]
Eleven Rigs Reactivated In The Vaca Muerta In Neuquén
(Energy Analytics Institute, 3.Oct.2020) — Argentina’s Neuquén Ministry of Energy data reveal 11 drilling rigs have been reactivated in the province, and all targeting the Vaca Muerta formation. Of the 11: three were recently incorporated by YPF, two by Shell, which was the first company to return, two by Pan […]
Payara Licence A Major Improvement On Liza 1
(DPI, 3.Oct.2020) — The new licence issued to Esso Exploration and Production Guyana Limited (EEPGL) for the development of its Payara well features significant new clauses missing from the Liza 1 well licence issued by the APNU+AFC. Vice President Dr. Bharrat Jadgeo on Friday said there were major improvements to the […]
Guyana Eyes Gas-To-Power Project Starting In 2021
(Energy Analytics Institute, 2.Oct.2020) — A natural gas-to-power project is expected to start in 2021 to produce reliable electricity for Guyanese citizens, the country’s Natural Resources Minister Vickram Bharrat said 2 October 2020 during The Madrid Energy Virtual Conference. The gas will come from the offshore Stabroek Block, which is […]
Petrobras Inks Deal To Divest Uruguay Assets
(Petrobras, 2.Oct.2020) — Petrobras, following up on the release disclosed on 4 February 2020, informs that its indirect controlled company, Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), signed with DISA Corporación PetrolÃfera S.A. (Disa), a contract for the sale of its entire stake in Petrobras Uruguay Distribuición S.A. (PUDSA), in […]
bpTT Initiates Galeota Expansion Project
(bpTT, 2.Oct.2020) — bp Trinidad and Tobago LLC (bpTT) announced the safe start-up of the Galeota expansion project (GEP). The project has been under construction since late 2016 and was started up on 28 September 2020. Its completion is a major milestone for bpTT. The Galeota Terminal is core to […]
Incahuasi Gas Plant Restarts, YPFB Says
The Incahuasi gas plant restarted production on 1 Oct. 2020, after halting operations a day earlier due to forest fires approaching from nearby communities.
Enel And AME Announce Pilot Green Project
(Energy Analytics Institute, 2.Oct.2020) — Enel Green Power Chile (EGP), a subsidiary of Enel Chile, together with AME and possible partners such as Enap, Siemens Energy and Porsche, will develop installations for a pilot plant that will produce green hydrogen through an electrolyzer powered by wind energy in Cabo Negro […]
YPF And Oil Unions Agree To 16.2% Salary Rise
Oil unions in Argentina reached an agreement with state oil and gas entity YPF for a salary increase of 16.2% over basic salaries as of March 2019 and which will be “non-remunerative” and payable from 1 September 2020.
Petrobras Comments On Decree 9,355/2018
(Petrobras, 2.Oct.2020) — Petrobras, following up on the release disclosed on 14 January 2019, informs that the Federal Supreme Court judged, by majority of votes, dismissing the direct action of unconstitutionality (ADI 5942/DF) that questioned the Decree 9,355/2018, edited to regulate the special procedure for assignment of rights to exploration, […]
Oxy Sales Colombian Onshore Assets to The Carlyle Group
(Piero Stewart, Energy Analytics Institute, 1.Oct.2020) — Houston-based Occidental Petroleum inked an agreement to divest its onshore assets in Colombia to The Carlyle Group for total consideration of $825mn. Per the deal, $700mn is due up front and the remainder payable subject to certain production and commodity price targets, Carlyle […]
Maduro Drafts Bill To Expand Powers For Oil Deals
(Reuters, 1.Oct.2020) — Venezuelan President Nicolas Maduro has drafted legislation to grant his government expanded powers to confidentially sign new oil deals with private firms and foreign nations as a way of getting around U.S. sanctions, according to the proposal and people familiar with the initiative. Maduro delivered the “anti-blockade” […]
Reliance Buys Canadian Oil To Offset Venezuelan Oil
(Reuters, 1.Oct.2020) — Reliance Industries has agreed to purchase 2 million barrels of Canadian heavy crude per month, three industry sources said, as a substitute for dwindling Venezuelan supply. The deal, large for Canada, shows how global buyers are scrambling for new sources of heavy oil. Venezuela’s production has collapsed […]
Petrobras To Continue With Refinery Divestments
(Petrobras, 1.Oct.2020) — Petrobras informs the plenary composition of the Supreme Federal Court (STF), by majority vote, denied the preliminary injunction request formulated by the Federal Senate and Congress committees regarding the Complaint 42576 to suspend the processes of divestment in refining and their respective logistic assets. Therefore, the company […]
Petrobras Comments On ICMS Regulations
(Petrobras, 1.Oct.2020) — Petrobras’ Board of Directors approved the adhesion to the ICMS debt and interest penalty reduction programs (Amnesties), according to the CONFAZ regulations ICMS 146/2019 and 51/2020, instituted by the states EspÃrito Santo and Rio de Janeiro, respectively. The total amount of contingencies to be closed in the […]
Payara Development More Expensive Than Liza Phase 2
(Energy Analytics Institute, 1.Oct.2020) — The recently sanctioned Payara development located offshore Guyana in the Stabroek Block will demand a hefty $9bn development cost due to requiring more drill centers and wells than the Liza Phase 2 development, which implies lower per well productivity. ExxonMobil, operator of the Stabroek Block, […]
IEnova To Report 3Q:20 Earnings On 21 October
(Sempra 1.Oct.2020) — Sempra Energy’s Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), plans to release its third-quarter 2020 earnings by 6 p.m. ET, 21 October, in advance of a conference call with IEnova executives at 11 a.m. ET, 22 October. Briefing materials also will be posted by 6 […]
IMF OKs $6.5bn Extended Facility For Ecuador
(IMF, 1.Oct.2020) — The Executive Board of the International Monetary Fund (IMF) approved a 27-month extended arrangement under the Extended Fund Facility (EFF) for Ecuador, with access equivalent to SDR 4.615bn (661% of quota, equivalent of $6.5bn). The Board’s approval allows for an immediate disbursement equivalent to $2bn, available to […]
ExxonMobil To Proceed With Payara Development
(Exxon, 30.Sep.2020) — ExxonMobil made its final investment decision to proceed with the Payara field offshore development in Guyana after receiving government approvals. Payara is the third project in the Stabroek Block and is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using […]
Hess Sanctions Payara Development
(Hess, 30.Sep.2020) — Hess made a final investment decision to proceed with development of the Payara Field offshore Guyana after the development plan received approval from the government of Guyana. Payara is the third oil development on the Stabroek Block; gross production capacity from the three developments is expected to […]
Petrobras, Other Cos. To Reveal NatGas Sharing Deals
(Petrobras, 30.Sep.2020) — Petrobras together with Petrogal Brasil, Repsol Sinopec Brasil and Shell Brasil, partners in the offshore routes in the pre-salt Santos Basin, will announce contracts for sharing the natural gas pipeline and processing plants. Today, a virtual event will be held with the presence of Petrobras’ CEO, Roberto […]
Brazil’s Output Reaches 3.927 MMboe/d In August 2020
(Energy Analytics Institute, 30.Sep.2020) — Brazil’s combined production of crude oil and natural gas reached 3.927 million barrels of equivalent oil per day (MMboe/d) in August 2020, according to details provided by oil sector regulator National Agency of Petroleum, Natural Gas and Biofuels (ANP). Oil production reached 3.087 million barrels […]
Exxon Eyes 10 Drill Centers For The Payara Development
(Energy Analytics Institute, 30.Sep.2020) — Exxon announced the Final Investment Decision (FID) was made to proceed with development offshore Guyana of the Payara field. The decision was taking by the US-based operator after receiving necessary government approvals. The Payara development is the third for the company and its partners Hess […]
Heard On The Street: Argentina’s Gas Dilemma
(Energy Analytics Institute, 30.Sep.2020) — If Argentina is unable to boost its natural gas production, piped gas imports from Bolivia as well as liquefied natural gas (LNG) imports injected from Escobar may not be sufficient to cover demand in the domestic market. As such, Argentina could be forced to opt […]
Petrobras To Waive Capacity At Regasification Terminal
(Petrobras, 29.Sep.2020) — Petrobras, in response to Official Letter 7132/2020/CGAA4/SGA1/SG/CADE, dated 29 September 2020, and further to the notice disclosed on 3 August about the lease of the LNG Regasification Terminal in Bahia (TR-BA) and associated facilities, hereby declares its commitment to waive all the capacity of the São Sebastião […]
ENAP To Move Forward With Wind Park
(Energy Analytics Institute, 29.Sep.2020) — Chile’s state oil and gas entity ENAP plans to start up a wind park located in Cabo Negro, the company announced 29 September 2020 via its Twitter feed, without providing details. __________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.
Petrobras: Accumulated Tupi Output Reaches 2 Billion BOE
(Petrobras, 28.Sep.2020) — Petrobras announced accumulated production of the Tupi field, located in the pre-salt of the Santos Basin, approximately 230 km from the coast of the state of Rio de Janeiro, reached 2 billion barrels of oil equivalent (boe), according to the Brazilian National Agency of Petroleum, Natural Gas […]
Petrobras Comments On Deal With Sete Brasil
(Petrobras, 28.Sep.2020) — Petrobras, following up on the release disclosed on 24 June 2020, informs that its Executive Board approved a second alteration to the deadline for certain precedent conditions set forth in the agreement with Seven Brazil to be implemented. Thus, the effectiveness of the agreement and other related […]
Petrobras Comments On Revolving Credit Lines
(Petrobras, 28.Sep.2020) — Petrobras, following up on the releases disclosed on 25 August 2020, 27 July and 20 March, informs it has made the total prepayment of the remaining balance of its revolving credit lines denominated in US dollars, in the amount of $2bn. With this prepayment, the company currently […]
Q&A: Colombia’s Lloreda Eyes E&P Revival
(Argus, 28.Sep.2020) — Colombia’s oil industry is slowly shaking off the double market blows of 2020 while it prepares to debut unconventional pilot projects. Oil chamber executive president Francisco Lloreda reflects on the upcoming challenges with senior contributing editor Patricia Garip. Edited highlights follow: How is Colombia’s oil industry recovering […]
Petrobras To Review Golar’s Participation In Terminal
(Reuters, 28.Sep.2020) — Brazilian oil producer Petroleo Brasileiro SA said it will review liquefied natural gas (LNG) company Golar Power’s participation in an ongoing tender to lease an import terminal of the super-chilled natural gas in Bahia state. Petrobras, as the Rio de Janeiro-based company is known, said in a […]
First Iranian Tanker Enters Venezuelan Waters
(Reuters, 28.Sep.2020) — The first of a group of three tankers carrying Iranian fuel for gasoline-starved Venezuela entered the waters of the South American nation on Monday, according to Refinitiv Eikon data, in the most recent sign of the countries’ expanding trade. The two OPEC members have increased cooperation this […]
Petrobras Grabs Assets From Total E&P do Brasil LTDA
(Petrobras, 28.Sep.2020) — Petrobras signed an agreement on 25 September 2020, under which Total E&P do Brasil LTDA will transfer to Petrobras the operatorship and working interest on the following exploration blocks FZA-M-57, FZA-M-86, FZA-M-88, FZA-M125 e FZA-M-127 located in ultra-deep waters, approximately 120 km from Amapá state, in an […]
Greenwood Energy Acquires Colombia-based 2C POWER
(Libra Group, 28.Sep.2020) — Greenwood Energy Latinoamérica, the Latin American renewable energy subsidiary of the Libra Group, has acquired Colombia-based 2C POWER, a developer-operator that builds and finances sustainable energy solutions for commercial and industrial clients. The consolidated company will henceforth trade as Greenwood Energy (www.greenwood.energy) and will develop, install, […]
Petrobras Starts Potiguar Cluster Non-binding Phase
(Petrobras, 28.Sep.2020) — Petrobras, following up on the release disclosed on 24 August 2020, informs the beginning of the non-binding phase regarding the sale of all of its stakes in a set of twenty-six onshore and shallow water production field concessions, located in the Potiguar Basin, in the state of […]
Argentina Expects To Announce Gas Plan 4 Details
(Energy Analytics Institute, 26.Sep.2020) — Argentina’s government is expected to announce final details related to it’s Gas Plan 4 or 20/24 Gas Scheme. Gas Plan 4 aims to improve the price of gas, which is around $2 per million British thermal unit or MMbtu, and below profitability margins, online newspaper […]
Argentine Gas Imports Were 42.2 MMcm/d In July 2020
(Energy Analytics Institute, 26.Sep.2020) — Argentina’s imports of natural gas from liquefied natural gas (LNG) and piped gas from Bolivia reached 42.2 million cubic meters per day (MMcm/d) in July 2020, online newspaper RÃo Negro reported on 26 September 2020. __________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All […]
US Pressed For Firm Stance In Venezuelan Bond Case
(Law360, 25.Sep.2020) — A New York federal judge on Friday grilled a lawyer representing the U.S. government on whether she should defer to Venezuelan’s denunciation of the some $1.68 billion in bonds, even as she acknowledged later that it would be a “very harsh result” to deny the bondholders what […]
Petrobras Inks Deal For Stake In Gás Local
(Petrobras, 25.Sep.2020) — Petrobras signed, on this date, contracts with White Martins Gases Industriais Ltda. including: (a) sale of Petrobras’ 40% stake in the company GNL Gemini Comercialização e LogÃstica de Gás Ltda (Gás Local); b) agreement to close pending corporate disputes, arbitration and issues under judicial discussion regarding Gás […]
Fines Delay ExxonMobil License In Guyana
(Argus, 25.Sep.2020) — Guyana is preparing to fine ExxonMobil over natural gas flaring and untreated water dumping at its offshore Stabroek block. Discussions over the level of fines have delayed approval of the company’s 220,000 b/d Payara project, natural resources minister Vickram Bharrat said. But Bharrat said an agreement on […]
YPF Prepares For Fuel Updates Between Oct.-Dec.
(Energy Analytics Institute, 25.Sep.2020) — YPF, the largest company in Argentina, will increase its fuel prices between now and year end. Two or three price increments are planned, at the rate of one per month, between October and December. The first adjustment could be on 1 October, online newspaper La […]
Petrobras Starts Teaser For Campos Basin E&P Assets
(Petrobras, 25.Sep.2020) — Petrobras started the opportunity disclosure stage (teaser), referring to the sale of all of its stakes in the Albacora and Albacora Leste concessions, located in the deep waters of the Campos Basin. The teaser, which includes key information about the opportunity, as well as the eligibility criteria […]
EPA Permit For Payara In Guyana Issued
(Energy Analytics Institute, 24.Sep.2020) — The EPA issues environmental permit for the Payara project offshore Guyana. __________ By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.
US Updates On Iran And Venezuela Designations
(US Department of Treasury, 24.Sep.2020) — The state department updates on Iran-related and Venezuela-related designations in today’s press release. SPECIALLY DESIGNATED NATIONALS LIST UPDATE The following individuals have been added to OFAC’s SDN List: SADATI, Seyyed Mahmoud (Arabic: سید Ù…Øمود ساداتی), Shiraz, Iran; DOB 1958; alt. DOB 1959; POB Estahaban, […]
Ecopetrol Briefs: 3Q Earnings, Capex For 2020
(Energy Analytics Institute, 24.Sep.2020) — Colombia oil and gas briefs on Ecopetrol’s capital expenditures for 2020 and the company’s plans to report financial results for the third quarter of 2020. Heard: Ecopetrol Plans To Announce 3Q:20 Financial Results Colombia’s state oil company Ecopetrol plans to release financial and operating results […]