Category: Latin America and the Caribbean

Colombia Inks $2.7bn In Investment Commitments

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(ANH, 20.Dec.2019) — With 31 exploration and production (E&P) contracts subscribed and investment commitments of more than $2,714 million in 2019, the government of Colombia’s President Ivan Duque fulfills the country and continues the sector reactivation, according to Colombia’s National Hydrocarbons Agency (ANH). In a long contract subscription day, held […]

Maduro Govt Eyes Turning Point

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(Argus, 20.Dec.2019) — PdV is leaning on joint-venture partners as it looks to continue a nascent crude output revival and live up to an improved economic outlook for 2020 The US sanctions-hit government of Venezuelan president Nicolas Maduro aims to turn a corner in its struggle to maintain power, as […]

ExxonMobil Starts Oil Production In Guyana

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(Exxon, 20.Dec.2019) — ExxonMobil announced that oil production has started from the Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons, which is well ahead of the industry average for deepwater developments. Highlights: — Production for Liza Phase 1 to reach […]

Petrobras Starts Regap Binding Phase

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(Petrobras, 20.Dec.2019) — Petrobras, following up on the release dated on October 4, 2019 informs the beginning of the binding phase related to the sale of Gabriel Passos Refinery (REGAP) in Minas Gerais, with its corresponding logistical assets. Potential buyers qualified for this phase will receive a process letter with […]

Petrobras On Biofuels Segment Exit Strategy

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(Petrobras, 20.Dec.2019) — Petrobras reports on divestments in the biofuels segment. The company guideline to exit this segment, announced in 2016, accelerated in 2019 and four important transactions were carried out this year: 1. Sale of stake in Belem Bioenergia Brazil (BBB) – Petrobras Biocombustível S.A. (PBio), a Petrobras subsidiary, […]

YPFB To Investigate Transfers To MAS Party

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(Energy Analytics Institute, Ian Silverman, 20.Dec.2019) — Bolivia’s state oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) announced an investigation has been launched related to alleged transfers to MAS or the Movement For Socialism party. Results of the investigation will be published after completion, YPFB announced 20 December 2019 in an […]

Operations Halted At Shushufindi-Quito Pipeline

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(Energy Analytics Institute, Piero Stewart, 20.Dec.2019) — Operations at the Shushufindi-Quito poly-duct pipeline have been halted due to a fissure detected in the Baeza sector, which lead to the spill of base gasoline. Environmental protection and restoration equipment as well as personnel have been deployed to the location to contain […]

Lukoil Pan Americas Wins Naphtha Ron 85 Tender

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(Energy Analytics Institute, Piero Stewart, 20.Dec.2019) — EP PetroEcuador awarded Lukoil Pan Americas Llc a contract to import 1,770,000 barrels of Naphtha Ron 85, a mixing component in the production of gasoline. Approximately 44 companies were invited to the international tender in which nine valid offers were received from Gunvor […]

Bolivia’s 50% Reduction In Electricity Rates

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(Energy Analytics Institute, Ian Silverman, 19.Dec.2019) — Bolivia’s interim President Jeanine Áñez and the country’s Energy Minister Rodrigo Guzmán announced an up to 50% reduction in electricity rates nationwide. The rates go into effect retroactively as of November 2019 and will benefit more than 1.8 million consumers nationwide, online media […]

Trinidad’s Petro Chaos

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(TT Newsday, 19.Dec.2019) — Our fuel subsidy gobbles hundreds of millions that could be spent on improving the country and distorts the economy. It is time we scrapped the remaining fuel subsidy and lift the restrictions on fuel retailers that prevent them from importing fuel or setting its price. We […]

Peru Deploys Army To Safeguard Strategic Gas Line

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(Argus, 19.Dec.2019) — Peru’s government has deployed army troops to safeguard a jungle stretch of the Camisea natural gas and gas liquids pipelines from potential attacks under a 60-day emergency declaration. The lines are critical to Peru’s LNG and LPG export businesses, which are operating normally. The emergency measure covers […]

Braskem Selects CenturyLink For Global Operations

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(Braskem, 18.Dec.2019) — Braskem, the largest thermoplastics resins producer in the Americas and leading producer of biopolymers in the world, selected global technology provider CenturyLink, Inc. to deliver a global SD-WAN network solution to more than 50 of its locations across Latin America, North America, Europe and Asia. This SD-WAN network […]

Pemex’s Emergency Drill At Dos Bocas Terminal

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(Energy Analytics Institute, Jared Yamin, 18.Dec.2019) — Mexico’s state oil company Petroleos Mexicanos (Pemex) announced plans to conduct an emergency exercise as part of its annual efforts related to emergency prevention and responses. The emergency exercise — to be held Thursday 19 December 19, at 10 a.m. — will involve […]

Petrobras To Pay Shareholder Remuneration

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(Petrobras, 18.Dec.2019) — Petrobras announced its Board of Directors, at a meeting held 18 Dec., approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,352,827,349.18, corresponding to R$ 0.42 per outstanding preferred share. The payment will be made on February […]

Petrobras Joins Tax Programs

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(Petrobras, 18.Dec.2019) — Petrobras, under the scope of its ongoing contingency assessment process, decided to join the Programs for Partial Tax Remission and Interest and Fine Reduction on VAT (ICMS) Debt established by the states of Amazonas, Alagoas, Bahia, Pernambuco, Rio Grande do Sul and Sergipe. The tax debts included […]

Petrobras Seeks Alternatives For Comperj

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(Petrobras, 18.Dec.2019) — Petrobras has completed the economic feasibility study regarding the completion of the Comperj refinery construction, together with the Chinese company CNPC and its affiliates, under the agreements to implement the strategic partnership, as disclosed to the market on October 16, 2018. The study showed that the completion […]

PDVSA Completes Termobarrancas Maintenance

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(Energy Analytics Institute, Piero Stewart, 18.Dec.2019) — Venezuela’s state oil company Petróleos de Venezuela (PDVSA) carried out major maintenance at the 100-megawatt turbo combustion generator at the Termobarrancas Electric Generation Plant, located in the Obispos municipality of Barinas state. PDVSA also incorporated the 30-megawatt Santa Inés Plant located in the […]

Minerva Bunkering Acquires CEPSA Panama SA

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(Minerva, 17.Dec.2019) — Minerva Bunkering (Pte) Ltd purchased 100% of the share capital of CEPSA Panama SA from Compañía Española se Petróleos, S.A for an undisclosed amount. “As one of the shipping industry’s great transit points, Panama is another key location where Minerva can add value to its customer base […]

Petrobras Starts Sergipe Alagoas Basin Binding Phase

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(Petrobras, 17.Dec.2019) — Petrobras, following up on the release disclosed on 11/01/2019, started the binding phase referring to the sale of its interest in fifteen onshore exploratory blocks, located in the Sergipe-Alagoas Basin.  Qualified parties for this phase will receive a process letter with instructions on the divestment process, including […]

Petrobras Announces E&P Asset Binding Phase

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(Petrobras, 17.Dec.2019) — Petrobras, following up on the release disclosed on 11/01/2019, announces that it has started the binding phase referring to the sale of its interest in fifteen onshore exploratory blocks, located in the Sergipe-Alagoas Basin. Qualified parties for this phase will receive a process letter with instructions on […]

Atlas Says Fourth Brazilian Plant In Operation

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(Atlas, 17.Dec.2019) — Atlas Renewable Energy, a leader in clean energy across Latin America, announces that its fourth project in Brazil, Sertão Solar Barreiras Complex, is fully operational. The plant has an installed capacity of 117MWp (megawatts peak) and will generate an estimated 275 GWh yearly. Located in Barreiras, state […]

Sinopec, EIG Deliver Bid For Petrobras Refinery

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(Reuters, 17.Dec.2019) — China’s Sinopec and U.S.-based EIG Global Energy Partners have delivered non-binding offers to buy Brazilian refinery REGAP from state-run oil firm Petrobras, three people with knowledge of the matter said. With a processing capacity of 150,000 barrels per day, REGAP is the fifth-largest refinery of eight up […]

YPFB Fundamental For Bolivia Gas Supply

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(Energy Analytics Institute, Ian Silverman, 17.Dec.2019) — Bolivia’s Hydrocarbon Minister Víctor Hugo Zamora said the new team at state oil company YPFB will be fundamental in negotiations related to expansion of a natural gas supply contract addendum with Brazil’s state controlled Petrobras that will allow Bolivia to continue exporting gas […]

YPFB President To Provide Company Update

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(Energy Analytics Institute, Ian Silverman, 17.Dec.2019) — YPFB President Herland Javier Soliz Montenegro announced plans to provide an update on the status of company’s entire production chain within three months. In an official statement 17 Dec. from YPFB, Soliz said the state oil company continues to operation and guarantee mainly […]

Zamora Says ‘YPFB In Good Health’

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(Energy Analytics Institute, Ian Silverman, 17.Dec.2019) — Bolivia’s Hydrocarbon Minister Victor Hugo Zamora announced that the country’s state oil company YPFB was a healthy company. “YPFB is in good health,” Zamora announced 17 Dec. in an official ministry statement. *** © Energy Analytics Institute (EAI)

Ecopetrol To Pay $1.1bn Extraordinary Dividend

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(Energy Analytics Institute, Piero Stewart, 16.Dec.2019) — Colombia’s state oil company Ecopetrol announced plans to pay a $1.1 billion extraordinary dividend in December. The dividend of $89 Colombian pesos per share will be paid to the Bogota-based company’s 41.1 billion shareholders, Ecopetrol announced 16 Dec. in an official statement. The […]

Quality Testing Guyana’s First 3 MMbbls

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(Demerara Waves, Denis Chabrol, 16.Dec.2019) — The Ministry of the Presidency’s Department of Energy denied breaching the procurement process for sale of Guyana’s first three million barrels of oil aimed at what officials say is the removal of impurities and setting of standard for Guyana to get the best price […]

Petrobras Prepays $5bn CDB Loan

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(Petrobras, 16.Dec.2019) — Petrobras, following up on the press release disclosed on August 14, 2019, prepaid a $5 billion loan with China Development Bank (CDB), due in 2027.  This prepayment will lead to the termination of the obligation to preferentially supply, under market conditions and for the term of financing, […]

Soliz Named As YPFB’s New President

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(Energy Analytics Institute, Ian Silverman, 16.Dec.2019) — Petroleum engineer Herland Javier Soliz Montenegro was named the new president of Bolivia’s state oil company YPFB, replacing engineer José Luis Rivero. Soliz will take over efforts to guarantee the normal supply of natural gas to Bolivia’s domestic market and consolidate exports to […]

Guyana Seeks Buyers For Govt’s Oil Output Share

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(Reuters, 15.Dec.2019) — Guyana has invited companies interested in purchasing the first three deliveries of the government’s share of the country’s looming oil production to present bids this week, the government said in a statement on Sunday. The government will later seek proposals from companies interested in a longer-term contract […]

BNDES Evaluates Sale Of Its Petrobras Shares

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(Petrobras, 13.Dec.2019) — Petrobras received correspondence from Banco Nacional de Desenvolvimento Econômico e Social (BNDES), in which it communicates the intention to evaluate the sale up to the totality of common shares issued by Petrobras in its ownership, through a secondary public offering of shares with broad distribution efforts in […]

Esteban Kiper Appointed GM At CAMMESA

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(Energy Analytics Institute, Aaron Simonsky, 12.Dec.2019) — Mr. Esteban Kiper was appointed as General Manager of the Electric Market Management Company or CAMMESA, during an ordinary assembly chaired by Argentina’s Energy Secretariat Sergio Lanziani. “I am a representative of the provinces and I invite all actors in the electricity sector […]

S&P Ups Petrobras’ Global Scale Outlook

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(Petrobras, 12.Dec.2019) — Petrobras said rating agency S&P Global Ratings (S&P) raised the company’s global scale outlook from stable to positive, and maintained its corporate debt rating at “BB-“. Yesterday, the agency revised the outlook on its long-term rating on Brazil to positive, reflecting prospects for an upgrade in the […]

Petrobras’ Teaser For TAG Stake Divestment

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(Petrobras, 11.Dec.2019) — Petrobras started the opportunity disclosure stage (teaser), relating to the sale of its remaining stake (10%) in Transportadora Associada de Gás S.A. (TAG). The teaser, which contains key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on the […]

Petrobras On TOR Amendment

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(Petrobras, 11.Dec.2019) — Petrobras following up on the release dated November 1, 2019, informs that, in alignment with its cash management strategy and in accordance with the provisions of the Amendment Term to the Transfer of Rights Agreement, paid to the Federal Government the amount of R$ 34.420 billion (thirty-four […]

PDVSA Perks Include Yoga And Guitar Lessons

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(Bloomberg, Peter Millard and Fabiola Zerpa, 11.Dec.2019) — Workers are starving, equipment is crumbling and output is languishing near record lows at Venezuela’s state oil producer. Yet yoga, guitar and dance lessons continue. Petroleos de Venezuela SA’s cultural arm is offering those classes to all employees along with workshops on […]

Bolivia’s VPACF Gets New VP

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(Energy Analytics Institute, Ian Silverman, 10.Dec.2019) — Forestry Engineer Marcelo Ayala Torrez was named the new Vice President of Bolivia’s Contract and Control Administration (VPACF by its Spanish acronym). Ayala graduated from the Juan Misael Saracho University, and also holds a master’s degree in environmental studies obtained from the Gabriel […]