(Energy Analytics Institute, 7.Aug.2020) — Camisea has reportedly contributed $10.45bn in terms of royalties during the 16 years it has been operating in Peru, website La RepĂşblica reported 7 August 2020. This figure represent 0.5% of the country’s gross domestic product (GDP), the media reported. Camisea’s gas exploitation takes place […]
Category: Latin America and the Caribbean
US Charges Ex-Citgo Exec In Bribery Probe
(Reuters, 6.Aug.2020) — U.S. prosecutors charged a former Citgo Petroleum manager with accepting $2.5 million as part of a scheme to bribe officials with the U.S. refiner and its Venezuelan parent to win business contracts. Jose Luis De Jongh Atencio, 48, was indicted by a federal grand jury last month […]
Guyana’s President Ali Swears In 19 Ministers
(Stabroek News, 6.Aug.2020) — Nineteen ministers were added to the administration of President Irfaan Ali yesterday and among them are some veterans who have served in previous PPP/C’s administrations and also quite a few new faces. There were some notable omissions as well as surprise inclusions when the new individuals […]
Petrobras Inks Deal For Onshore Field In Sergipe
(Petrobras, 5.Aug.2020) — Petrobras, following up on the release disclosed on 01/03/2020, signed today with Centro Oeste Ă“leo e Gás Ltda. an agreement for the sale of its entire stake in the DĂł-RĂ©-Mi onshore field, located in the Sergipe-Alagoas Basin, in the state of Sergipe. The sale value is $37,600, […]
Bolivian Domestic Gas Connections Near 1 Million
(Energy Analytics Institute, 5.Aug.2020) — Bolivia’s state oil and gas entity Yacimientos PetrolĂferos Fiscales Bolivianos (YPFB) has achieved close to one million domestic gas installations nationwide. The connections are a basic service contributing to improving the quality of life of Bolivian families, YPFB executive president Richard Botello Hiza announced 5 […]
Bolivia To Lose $223mn In Petrobras Deal
(Energy Analytics Institute, 5.Aug.2020) — Bolivia’s state oil and gas entity Yacimientos Petrolifos Fiscales Bolivianos (YPFB) will cease to receive some $223 million over three years after signing an eighth addendum with its Brazilian counterpart Petrobras. “This year the figures is $58 million, in 2021 it’ll be around $80 million […]
Petrobras Reports Record July BĂşzios Production
(Petrobras, 5.Aug.2020) — Petrobras reports platforms (P-74, P-75, P-76 and P-77) installed in the BĂşzios field, in the Santos Basin pre-salt, reached new monthly production records in July, of 615,000 barrels of oil per day (bpd) and 765,000 barrels of oil equivalent per day (boed). The BĂşzios field, discovered in […]
Ecopetrol 2Q:20 Report, Updates Business Plan
(Ecopetrol, 4.Aug.2020) — Ecopetrol S.A. announced today the Ecopetrol Group’s financial results for the second quarter and the first half of 2020 and the update of the Business Plan 2020-2022. Financial results were prepared in accordance with the International Financial Reporting Standards applicable in Colombia. RELATED STORY: Moody’s Confirms Ecopetrol’s […]
Shell Argentina CEO Sean Rooney’s EconoJournal Q&A
(Energy Analytics Institute, 4.Aug.2020) — Shell Argentina President Sean Rooney discussed his company’s operations in Argentina amid the Covid-19 pandemic, including commenting on continued and future development of the Vaca Muerta shale formation. “A lot of economic recuperation post-Covid will come from industry pressures to accelerate the change of energy […]
IMF’s Head Congratulates Argentina On Debt Deal
(Energy Analytics Institute, 4.Aug.2020) — International Monetary Fund Managing Director Kristalina Georgieva sent out a congratulations to President Alberto Fernandez, Minister Martin Guzman and Argentina’s main creditor groups on reaching an agreement in principle on the country’s debt. “A very significant step. Look forward to a successful conclusion in the […]
Ad Hoc Argentine Bond Group On Debt Deal
(White & Case, 4.Aug.2020) — “We are pleased to have reached an agreement in principle with Argentina for a proposal that will provide the country with the necessary economic relief and sustainable path it needs in the wake of COVID-19, as well as renewed access to the international capital markets […]
Petrobras Comments On Previ Case
(Petrobras, 4.Aug.2020) — Petrobras, further to the notices to the market dated 22 June 2020 and 21 July 2020, hereby announces that the 1st Business Court, which deals with Conflicts related to Arbitration of SĂŁo Paulo has extinguished the action for specification of judicial mortgage filed by Caixa de PrevidĂŞncia […]
Petrobras Starts PBIO Non-Binding Phase
(Petrobras, 3.Aug.2020) — Petrobras, following up on the press release disclosed on 3 July 2020, informs the beginning of the non-binding phase regarding the sale of its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBIO). Qualified parties for this phase will receive a process letter with detailed information about the aforementioned company, […]
Carter Center On End To Guyana Election Standoff
(Carter Center, 3.Aug.2020) — The Carter Center commends the Guyana Elections Commission and Chairperson Claudette Singh for finalizing the results of the 2020 election. It extends its congratulations to President Irfaan Ali as he assumes Guyana’s highest office and applauds former President David Granger’s statesmanship in recognizing GECOM’s declaration of […]
Moody’s Confirms Ecopetrol’s Rating
(Ecopetrol, 3.Aug.2020) — Ecopetrol S.A. announces rating agency Moody’s kept the Company’s long-term international rating at Baa3, with stable outlook. Moody’s highlighted the Company’s strength as a leading firm in Colombia, the benefits of being an integrated company, as well as the adequate liquidity levels required to navigate the current […]
Petrobras Reveals Details Of Bahia LNG Terminal Lease
(Petrobras, 3.Aug.2020) — Petrobras, in accordance with the commitments made through the Agreement signed with the Administrative Council for Economic Defense (CADE), on 8 July 2019, and following up on the release dated 9 December 2019, informs it published today the Bidding Process Call for the leasing of the LNG […]
BA Province Extends Invitation Memorandum
(The Province of Buenos Aires, 3.Aug.2020) — The Province of Buenos Aires announced that it has further extended the expiration of its invitation made to holders of certain eligible bonds listed in the Invitation Memorandum dated 24 April 2020 (as amended and supplemented from time to time, the “Invitation Memorandum”) […]
Work Continues At Dos Bocas In Mexico
(Energy Analytics Institute, 3.Aug.2020) — Construction work at the Dos Bocas refinery continues, according to recent details from Mexico Energy Secretariat published on Twitter. __________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Venezuela’s July Oil Shipments Below 400 Mb/d
(Reuters, 3.Aug.2020) — Venezuela exported about 388,100 barrels per day of crude and fuel in July, almost unchanged versus the previous month, as U.S. sanctions on PDVSA continued limiting sales, according to Refinitiv Eikon and internal data from the state-run company. Washington has ramped up pressure this year on PDVSA’s […]
YPFB Continues With LPG Production Efforts
(Energy Analytics Institute, 3.Aug.2020) — Bolivia’s state oil and gas entity Yacimientos PetrolĂferos Fiscales Bolivianos (YPFB) continues with efforts to keep the cities of La Paz and El Alto supplied with liquefied petroleum gas or LPG, despite the existence of blockades in some areas, and called in force by some […]
Irfaan Ali Declared Guyana’s 9th President
(DPI, 2.Aug.2020) — Chairman of the Guyana Elections Commission (GECOM) Justice (ret’d) Claudette Singh moments declared PPP’s presidential candidate Mohammed Irfaan Ali as the next President of Guyana. The announcement came moments after Chief Elections Officer (CEO) Keith Lowenfield submitted his final report using the data generated from the national […]
Presidents Irfaan Ali Speaks To Members Of Media
(DPI, 2.Aug.2020 ) — Guyana’s new President Mohamed Irfaan Ali speaks to the media from Georgetown. __________
Guyana Elects Mohamed Irfaan Ali President
(Energy Analytics Institute, 2.Aug.2020) — Guyana’s Election Commission (GECOM) announced 2 August 2020 that Mohamed Irfaan Ali, the leading candidate from the People’s Progressive Party/Civic (PPP/C) had won the country’s president elections which took place on 2 March 2020. Ali beat out incumbent David Granger and his A Partnership for […]
Petrobras 2Q:20 Earnings Call Transcript
(The Motley Fool, 1.Aug.2020) — Petrobras’s earnings call for the period ending 30 June 2020. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning ladies and gentlemen. Welcome to Petrobras Webcast with Analysts and Investors about the Second Quarter 2020 Results. We would like to inform […]
Guyana Election Casts Shadow Over Oil Finds
(Forbes, 1.Aug.2020) — Hess Corp. reported more good news from its joint development of Guyana’s Stabroek Block with ExxonMobil and CNOOC on Thursday. The company announced that recently-completed appraisal drilling at the Yellowtail-2 well yielded a surprising result: The identification of two additional high-quality reservoirs. “The Stena Carron rig recently […]
YPF Announces Expiration Of Offer For Senior Notes
(YPF, 31.Jul.2020) — YPF S.A. announced today the results as of the Expiration Date (as defined below) with respect to its previously announced exchange offer to exchange any and all of its outstanding US$1,000,000,000 8.500% Senior Notes due 2021 (the “Old Notes“) for the applicable amount of 8.500% Senior Amortizing […]
Aruba Receives Refinery, Development Proposals
(Argus, 31.Jul.2020) — The government of Aruba received proposals to refurbish its refinery and develop alternative industries on the brownfield site. RdA, the state-owned asset holder, received 29 proposals out of 57 initial registrations for the first option of refurbishing the 235,000 b/d San Nicolas refinery, which was formerly owned […]
Metor Pauses Venezuela Methanol Output
(Argus, 31.Jul.2020) — Mitsubishi-operated Metanol de Oriente (Metor) in eastern Venezuela has suspended methanol production as a health precaution. The 750,000 t/yr Metor 1 plant will close from today through 15 August, and the 850,000 t/yr Metor 2 plant will close on 4-18 August. Only strictly necessary workers will be […]
Two US Execs Go From Prison To House Arrest
(CNN, 31.Jul.2020) — Two American oil executives held in an overcrowded Venezuelan prison for almost three years have been placed in house arrest, a sign that the embattled government of Nicolas Maduro may be easing its stance toward the detainees. Gustavo Cárdenas and Jorge Toledo were released to house arrest […]
Guyana’s 2nd Royalty Payment Deposited In NRF
(DPI, 31.Jul.2020) — The second payment for Guyana’s oil and gas royalties has been deposited in the Natural Resources Fund (NRF) – a total of $774,721,556.68 GY (US$3,698,152.63). Minister of Finance, Winston Jordan on Thursday confirmed that the payments were received on schedule and were deposited in the Federal Reserve […]
Guyana: Education Through African Culture, Heritage
(DPI, 31.Jul.2020) — A webinar focusing on African Cultural Teachings was hosted by the International Decade for People of African Descent Assembly – Guyana (IDPADA-G) last evening. Moderators, Shonetta Lowe and Kayshell Jennings spotlighted the Adinkra Symbols of Ghana with panellist Yaa Anima Mensah of Ghana, the History and Significance […]
Stabroek’s Fiscal Terms On Par With Other frontiers
(DPI, 31.Jul.2020) — Oil and gas industry analyst Wood Mackenzie in its recent report stated that compared to other countries with similar circumstances, Guyana’s Stabroek Block fiscal terms ranks well. The website OilNOW reported that the company had benched marked the Stabroek Production Sharing Agreement (PSA) against countries with similar […]
Officials From Ecuador And US Discuss Investments Ops
(Energy Analytics Institute, 31.Jul.2020) — Ecuador’s hydrocarbon ministry head RenĂ© Ortiz and other authorities from Ecuador’s energy sector held a working meeting 28 July 2020 with the US assistant secretary of state for energy resources, Francis R. Fannon and ambassador Michael Fitzpatrick, during which they analyzed investment prospects and mechanisms […]
ExxonMobil 2Q:20 Earnings Call Transcript
(The Motley Fool, 31.Jul.2020) — ExxonMobil earnings call for the period ending 30 June 2020. Contents: — Prepared Remarks — Questions and Answers — Call Participants Prepared Remarks: Operator Good day, everyone. Welcome to this ExxonMobil Corporation second-quarter 2020 earnings call. Today’s conference is being recorded. At this time, I’d […]
Petrobras: Message From CEO Roberto Castello Branco
(Petrobras, 31.Jul.2020) — Brazil state oil and gas company Petrobras reported financial and operational results for the second quarter of 2020. The company’s Chief Executive Officer Roberto Castello Branco had this to say before the company’s conference call. Dear Shareholders, I am glad to be able to tell you that […]
Argentine Court Rejects Ecuadorian Judgment Against Chevron
(Chevron, 31.Jul.2020) — Argentina’s highest court unanimously rejected the plaintiffs’ final bid to enforce a fraudulent $9.5 billion Ecuadorian judgment against Chevron Corporation. This is the latest in a string of legal victories in Chevron’s global defense against the Ecuadorian judgment—found by U.S. courts to be the product of fraud, […]
Petrobras Expects To Seal Refinery Sale To Mubadala
(Reuters 31.Jul.2020) — Brazilian state-run oil firm Petroleo Brasileiro SA expects to conclude unilateral negotiations regarding the sale of its RLAM refinery in northeastern Brazil within “one or two months,” Chief Executive Roberto Castello Branco said on Friday. Abu Dhabi’s investment fund Mubadala Investment Co is in exclusive negotiations with […]
AES And 5B Pushing Solar Energy Transition
(AES, 30.Jul.2020) — The AES Corporation has made a strategic investment in 5B, a solar technology innovator based in Sydney, Australia. 5B’s revolutionary Maverick design enables customers to add solar resources at a pace that is three times faster while providing up to two times more energy within the same […]
Centro Sur Reveals Second Phase Of La Troncal Project
(Energy Analytics Institute, 30.Jul.2020) — Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MERNNR by its Spanish acronym), through Empresa ElĂ©ctrica Regional Centro Sur CA (CentroSur), delivered to the market the second stage of Substation 50 – La Troncal. The second stage of this substation came online in September 2019, […]
NGC Supports Energy Journalism Training
(NGC, 29.Jul.2020) — On July 08th 2020, The National Gas Company of Trinidad and Tobago Limited (NGC) concluded a six-week energy journalism training which saw local and regional journalists tuning in online every Wednesday from June 3rd to July 8th 2020 to learn more about the energy sector. Resource professionals […]
Ecopetrol’s 2Q:20 Call, 2020-22 Business Plan Update
(Ecopetrol, 29.Jul.2020) — Ecopetrol S.A. announces that on 4 August 2020 before market opens, it will release its financial and operating results for the second quarter 2020, and its 2020-2022 Business Plan Update. On Wednesday, 5 August, Ecopetrol’s senior management will host two conference calls to review the results and […]
Tullow Oil’s Trading Statement & Ops Update
(Tullow, 29.Jul.2020) — Tullow Oil plc (Tullow) issues this statement to summarise recent operational activities and to provide trading guidance in respect of the financial half year to 30 June 2020. This is in advance of the Group’s Half Year Results, which are scheduled for release on Wednesday 9 September […]
PetroAmazonas Reduces Activities In Block 43-ITT
(Energy Analytics Institute, 29.Jul.2020) — PetroAmazonas EP will reduce its work capacity by 30% in Block 43–ITT (Ishpingo, Tambococha, Tiputini), located in Orellana province, for 45 days. The decision was made to preserve the health of employees and collaborators during the Covid-19 pandemic, PetroAmazonas General Manager Juan Carlos Bermeo CalderĂłn […]
Apache Reports 2Q:20 Financial Results
(Apache, 29.Jul.2020) — Apache Corporation (Nasdaq: APA) today announced its financial and operational results for the second-quarter 2020. Key Takeaways — Announced major discovery at Kwaskwasi today, third consecutive discovery in Block 58 offshore Suriname; — Submitted appraisal plan for first discovery, Maka, in May; announced second discovery, Sapakara, in […]
Apache Finds Oil Offshore Suriname At Kwaskwasi-1
(Apache, 29.Jul.2020) — Apache Corporation and Total S.A. announced a major oil discovery at the Kwaskwasi-1 well drilled offshore Suriname in Block 58. The well was drilled using the Noble Sam Croft with Apache as operator holding a 50% working interest and Total holding a 50% working interest. Kwaskwasi-1 was […]
Petrol Retailers Warn Of ‘Mobile’ Gas Stations
(Jamaica Observer, 29.Jul.2020) — The Jamaica Gasoline Retailers Association (JGRA) on Monday last warned a parliamentary committee reviewing the proposed Occupational Safety & Health (OSH) Act, 2017 at Gordon House, to consider a developing trend of “mobile” petrol stations. According to JGRA President Gregory Chung, the association is aware of […]
Ecuador Eyes Its First LNG Import Terminal
(Argus, 27.Jul.2020) — US firm Sycar plans to build Ecuador’s first LNG import terminal, with construction expected to start in 2021. Sycar, in partnership with an unnamed LNG trading firm, intends to install a floating storage and regasification unit (FSRU) to provide regasified LNG to the 130MW Thermo Gas Machala […]
Petrobras To Sale Tayrona Block Offshore Colombia
(Petrobras, 27.Jul.2020) — Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire stake in the exploratory portion of the Tayrona Block, located in the Guajira Basin, Colombia. The teaser, which includes key information about the opportunity, as well as the eligibility criteria […]
Petrobras Makes $3.5bn Prepayment On Credit Lines
(Petrobras, 27.Jul.2020) — Petrobras, following up on the press release on 03/20/2020, informs that, as of today, it has made the partial prepayment of its Revolving Credit Lines, in the amount of US$ 3.5 billion. These resources will be available for new withdrawals, if necessary. “The US$ 8 billion withdrawal […]
A Tale Of Two Neighbours: Guyana And Suriname
(Jamaica Observer, 26.Jul.2020) — Recent electoral events in Guyana and Suriname, which border each other on the north-eastern coast of the South American continent, display a remarkably different approach to democracy that could be the determining factor in catapulting Suriname’s development and prosperity well ahead of Guyana’s. The two countries […]