Latin America and the Caribbean Archives - Page 150 of 220

GeoPark Announces All-Cash Deal With Amerisur

(GeoPark, 15.Nov.2019) — GeoPark Limited, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador announces the acquisition of Amerisur Resources Plc. Strategic Rationale: Capturing Scale GeoPark has a 17-year track record of creating value […]

BPTT reports Ginger natural gas discovery offshore Trinidad

CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 15.Nov.2019) — BP Trinidad & Tobago (BPTT) made a natural gas discovery with the Ginger exploration well, offshore Trinidad and Tobago. The well is expected to be completed by the end of Nov. 2019. The results of the Ginger well will continue to […]

Rosneft Head Sechin Attends BRICS Summit In Brazil

(Rosneft, 15.Nov.2019) — During the visit of the President of the Russian Federation Vladimir Putin to the BRICS summit in Brazil, the Chief Executive Officer of PJSC Rosneft Oil Company Igor Sechin as part of the Russian delegation took part in a number of bilateral meetings with the leaders of […]

Pemex Guarantees Timely Payroll Payment

(Pemex, 15.Nov.2019) — Petróleos Mexicanos urges the population to ignore fake press releases currently circulating in various news and social media, claiming alleged delays in the payment of the payroll and Christmas bonuses to the company’s workers are unfounded. Pemex guarantees that its processes in the human resources department, workers’ […]

ENAP Reports Record Production In Ecuador

(Energy Analytics Institute, Piero Stewart, 15.Nov.2019) — Chile’s state oil company ENAP reported record production of 23,089 barrels per day of crude oil in Ecuador. The production level — reached on 29 October 2019 — is the highest level reached by ENAP Ecuador since it commenced operations in the Andean […]

Shell And Partners Add Pre-salt Production

(Shell, 14.Nov.2019) — New, deep-water production has come online from the Brazilian pre-salt Santos Basin. Shell Brasil Petróleo Ltda. (Shell Brasil) and its consortium partners today announced the start of oil and natural gas production at the P-68 floating production, storage, and offloading unit (FPSO), located in BM-S-11A Concession in […]

TTNGL Sep. Financial Stmts

(TTNGL, 14.Nov.2019) — Trinidad and Tobago NGL Limited (TTNGL) reported its condensed interim financial statements for the nine months ended September 30, 2019. On behalf of the Board of Directors (‘Board’), I am pleased to provide the results of Trinidad and Tobago NGL Limited (‘TTNGL’ and ‘Company’) for the nine […]

Brazil To Import More LNG If Bolivia Supply Falters

(Argus, 14.Nov.2019) — Brazil will increase LNG imports if pipeline natural gas supply from Bolivia is interrupted because of political unrest, according to Brazilian hydrocarbons agency ANP. Brazilian state-controlled Petrobras confirmed that it was notified by Bolivian state-owned YPFB on 11 November about possible fluctuations in gas supply. Under a […]

Saipem Inks Subsea Contract In Guyana

(Saipem, 14.Nov.2019) — Milan-based Saipem has been awarded a subsea contract by ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) for the proposed Payara development project located in the Stabroek block offshore Guyana at a water depth of around 2000 metres. The contract scope includes Subsea Structures, Risers and […]

Petrobras Discloses Binding Phase For Onshore Fields

(Petrobras, 13.Nov.2019) — Petrobras, following up on the release dated 09/13/2019, reports on the beginning of the binding phase regarding the sale of its stakes in two onshore concessions, including offloading facilities named Cupiúba and Carapanaúba Cluster, located in the state of Amazonas. Qualified parties for this phase will receive […]

Ramnarine Talks Of TT Energy Sector Crisis

(AZP, 13.Nov.2019) — There is a crisis in the energy sector in Trinidad and Tobago. This is the view of former energy minister Kevin Ramnarine after the announcement by Yara Trinidad Limited that it would be closing one of its three ammonia plants on the Point Lisas Industrial Estate. In […]

Pemex Not Willing To Pay Ransom After Cyberattack

(Reuters, 13.Nov.2019) — Mexican national oil company Pemex will not pay a ransom demanded by suspected cyberattackers who targeted the firm’s computer systems, Energy Minister Rocio Nahle told reporters on Wednesday. Nahle, who also serves as chair of the Pemex board, added that the attack hit the company’s administrative headquarters […]

Yara Reports Closure Of Trinidad Ammonia Plant

(Yara, 13.Nov.2019) — Yara regrets to announce the closure of its wholly-owned ammonia plant in Point Lisas, Trinidad. The Yara Trinidad plant is one of three ammonia plants operated by Yara Trinidad Ltd. The remaining two plants, Tringen I and Tringen II, are jointly owned by Yara International ASA and […]

NGC Acknowledges Cessation Of Yara Operations

(NGC, 13.Nov.2019) — The National Gas Company of Trinidad and Tobago Limited (NGC) notes the decision taken by Yara Trinidad Limited to cease operations of its ammonia plant located at the Point Lisas Industrial Estate, Trinidad. The Yara plant production represents circa 5% of total ammonia production in Trinidad. This […]

Hacker Wants $5mn In Ransom From Pemex

(Bloomberg, Amy Stillman, William Turton and Alyza Sebenius, 13.Nov.2019) — The hacker behind a cyberattack that has crippled Petroleos Mexicanos’s computer systems since the weekend is hoping to squeeze almost $5 million out of the company and appears to have set a deadline of Nov. 30. Pemex has other ideas, […]

NGC Acknowledges Cessation Of Yara Operations

Ecopetrol and Oxy Finalize Permian Deal

(Ecopetrol, 13.Nov.2019) — Ecopetrol S.A. completed the joint venture transaction announced on 31 Jul. 2019. Through this deal, the company and Occidental Petroleum Corp agreed to form a strategic alliance or joint venture for the development of unconventional reservoirs in approximately 97,000 acres of the Permian Basin in the state […]

Bolivia Warns Of Force Majeure On Gas Exports

(Argus, 12.Nov.2019) — Bolivia’s deepening political crisis is starting to take a toll on its vital hydrocarbons industry. YPFB, Bolivia’s state-owned oil and natural gas company, warned Argentina it may not meet its gas export commitments because of the current unrest that has engulfed the country and led to a […]

Indian Firm To Repair PDVSA Refineries

(S&P Platts Global, Alisdair Bowles, 12.Nov.2019) — Venezuelan state-owned PDVSA signed a five-year deal earlier this year with Indian company Flash Forge Private Limited (F-F) to help restore crude oil output and repair refineries in Venezuela, according to a document seen by S&P Global Platts. Under the deal, F-F is […]

Exmar’s First LNG Shipment In Argentina

(EXMAR, 12.Nov.2019) — Exmar announced the first commercial LNG cargo has left Argentina for export. It was produced on board Exmar’s Tango FLNG and is now being transported by Excalibur, an Exmar’s fleet LNG carrier. Exmar’s Board of Directors and management want to congratulate both Exmar and YPF teams for […]

Petrobras Discloses Teaser For Uruguayan Assets

(Petrobras, 12.Nov.2019) — Petrobras started the opportunity disclosure stage (teaser) relating to the sale of its fuel, lubricant and fertilizer distribution business in Uruguay. In this project, the company aims to sell 100% of the shares held by Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI) – a subsidiary of Petrobras […]

Ecuador Oil Minister Resigns

(Reuters, 12.Nov.2019) — Ecuadorean Oil Minister Carlos Perez on Tuesday announced his resignation in what he called a personal decision to spend more time with his family, weeks after the country was rocked by violent protests over a planned fuel price hike. President Lenin Moreno in October rolled back a […]

Chubut Preparing For Cerro Negro Oil Auction

(S&P Global Platts, 12.Nov.2019) — Chubut is preparing to hold an auction of assets in Cerro Negro, a maturing conventional block in the southern Argentinian province, part of a wider effort to boost its oil production, the province’s minister of hydrocarbons, Martin Cerda, said. “We are working to hold the […]

LAC On Brink Of Massive Solar Power Growth

(IRENA, 12.Nov.2019) — Latin America and the Caribbean could grow their installed solar capacity by a factor of 40 by 2050, a new report by the International Renewable Energy Agency (IRENA) shows. Annual investments exceeding seven billion would see the region’s solar PV capacity rise from 7 gigawatts (GW) today, […]

UTE Announces $500mn Investment In San José

(Energy Analytics Institute, Aaron Simonsky, 12.Nov.2019) — The company UTE announced it will invest $500 million in the Punta del Tigre B 540-megawatt combined cycle plant located in the department of San José. The plant — situated near the Punta del Tigre A plant — can use two types of […]

Rosneft Grapples With Unsold Venezuelan Oil

(Michelle Wiese Bockmann, 12.Nov.2019) — Rosneft’s trading arm is vital to Venezuelan crude sales as Chinese refiners shun direct purchases since the US administration tightened sanctions in August. Instead Venezuela to China shipments arrive via Malaysia, through ship-to-ship transfers undertaken from Rosneft-controlled tankers CRUDE exports from Venezuela have dwindled to […]

Pampa Energía 3Q:19 Results

(Pampa Energia, 11.Nov.2019) — Pampa Energía S.A. announced the results for the nine-month period and quarter ended on September 30, 2019. The Company adopted the US Dollar as functional currency (‘FC US$’) for the reporting of its financial information, effective as from January 1, 2019. However, the information of the […]

Petrobras Delists From Argentine Stock Exchange

(Petrobras, 11.Nov.2019) — Petrobras, following communications disclosed on 08/09/2019, 10/04/2019 and 11/04/2019, reports that it proceeded to the withdrawal of the public offering regime in Argentina and that, therefore, today was the last trading day of the company’s stocks in that market. Argentine shareholders who still hold stocks of the […]

Pemex Says Operations Normal

(Pemex, 11.Nov.2019) — In the light of the tidal wave of false rumors and press releases, articles and social media posts that claim there was an attack on the internal computing systems of Petróleos Mexicanos, the company reports the following: Petróleos Mexicanos is operating normally. The company’s operating and production […]

Pampa Energia Sets 3Q:19 Conference Call Date

(Energy Analytics Institute, Aaron Simonsky, 11.Nov.2019) — Pampa Energía S.A. announced it will host a conference call to discuss the company’s Q3 19 results on Tuesday 12 Nov. 2019 at 10:00 a.m. Eastern Standard Time / 12:00 p.m. Buenos Aires Time. The host will be Lida Wang, Investor Relations Manager […]

YPF Loads 1st Commercial LNG Cargo

(Reuters, Jessica Jaganathan and Ekaterina Kravtsova, 8.Nov.2019) — Argentine oil company YPF SA has loaded its first commercial liquefied natural gas (LNG) cargo for export from a new floating facility, trade sources said on Friday. Argentina’s export joins a wave of new supply flooding the spot market which has depressed […]

Venezuelan Mayor Seizes Baker Hughes Facilities

(Argus, 8.Nov.2019) — A warehouse and offices owned by US drilling services firm Baker Hughes were seized yesterday by a local mayor in Zulia state for alleged municipal tax evasion. The takeover of the US company’s installations took place yesterday at 5:30am local time and was enforced by members of […]

Petrobras Holds Extraordinary Conf. Call

(Petrobras, 8.Nov.2019) — Brazil’s state oil company Petrobras conducted a conference call to discuss recent details related to recent bid rounds in Brazil. Operator: Good morning, ladies and gentlemen. Welcome to Petrobras webcast and conference call with analysts and investors concerning the results of ANP Bid Rounds. We would like […]

Petrobras Receives Final Offer For Liquigás

(Petrobras, 7.Nov.2019) — Petrobras reports that, as part of the competitive process for divestment of its entire shareholding in Liquigás Distribuidora S.A., the group comprised of Copagaz, Itaúsa and Nacional Gás Butano submitted the best final offer for the company’s acquisition, in the amount of R$ 3.7 billion. The transaction […]

ExxonMobil To Take 1st MMbbls Of Oil

(Guyana Times, 7.Nov.2019) — With oil production expected to begin later this month, ExxonMobil will be getting the first shipment of oil, while Guyana will have to wait until sometime next year. This announcement was made by the Department of Energy. Making these announcements was Department of Energy Director, Dr […]

Big Oil Stuns Brazil In Back-to-back Auction Flops

(Reuters, Marianna Parraga, Gram Slattery and Marta Nogueira, 7.Nov.2019) — Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up promising offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA. The only […]

Brazil’s Pre-salt Encore Flops

(Argus, 7.Nov.2019) — Brazil’s pre-salt auction today mirrored the lackluster results from yesterday’s much-hyped Transfer of Rights offer, raising questions about bonus pricing, the appeal of the country’s production-sharing terms and state-controlled Petrobras’ first-right mandate. Petrobras teamed up with a Chinese partner to take just one of the five exploration […]

Frontera Announces Quarterly Dividend

(Frontera, 7.Nov.2019) — Frontera Energy Corporation announces that its Board of Directors has declared a dividend of C$0.205 per common share, which will be paid on or about January 17, 2020 to shareholders of record at the close of business on January 3, 2020. The company’s Board of Directors dividend […]

Centaurus Changes OTC Symbol

(Centaurus, 7.Nov.2019) — Centaurus Energy Inc., formerly Madalena Energy Inc., announced that the Financial Industry Regulatory Authority, Inc. (FINRA) approved a change in the company’s stock symbol on the OTC Markets. Effective 7 November 2019, the company’s common shares are expected to trade on the OTC Markets under the symbol […]

Petrobras Buys Aram Block In 6th PSC Bid Round

(Petrobras, 7.Nov.2019) — Petrobras reports that the consortium in which will be the operator, holding 80% of work interest, in partnership with CNODC Brasil Petróleo e Gás Ltda. has acquired one offshore block in the 6th bidding round under the Production Sharing Contract (PSC), held today by the National Agency […]

ANP’s 6th Round Gets R$5.05bn Bid

(ANP, 7.Nov.2019) — The 6th Production Sharing Bidding Round, held today (November 7) by ANP, bid the block Aram in the Santos Basin. The Round raised R$ 5.05 billion in signature bonus and R$ 278 million in planned investments in the first phase of the contract alone (exploration phase). The […]

Brazil’s PSC Round 6 Disappoints

(WoodMac, 7.Nov.2019) — Speaking after this morning’s PSC round, Juliana Miguez, from Wood Mackenzie’s Latin America upstream team, said: “Petrobras has returned to the headlines. One day after it dominated the Transfer of Rights Surplus round, the NOC placed the only bid of today’s auction. “Despite 17 companies registering – […]

Brazil Oil Auction A ‘Total Disaster’

(Bloomberg, Sabrina Valle, Peter Millard, and Luiza Ferraz, 6.Nov.2019) — Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away. Petrobras, as the company is known, joined with China’s Cnooc Ltd. and […]

Ecopetrol Updates On Invercolsa Shares

(Ecopetrol, 6.Nov.2019) — Ecopetrol S.A. reports that, as mentioned in certain media and in searches on the Judiciary website, the Colombian Supreme Court of Justice has handed down a ruling upholding the Superior Court of Bogotá’s decision invalidating the acquisition in 1997 of 145 million ordinary shares of INVERCOLSA by […]

Brazil Tender Disappoints

(Reuters, Gram Slattery, Marta Nogueira, Marianna Parraga, 6.Nov.2019) — Brazil’s biggest-ever oil auction frustrated expectations on Wednesday, as high prices and the dominant role of state-run oil company Petrobras scared off global oil majors. Petroleo Brasileiro SA, as the Brazilian firm is also known, and Chinese state firms CNOOC and […]

Rosneft Cool On Venezuela’s Sweeter Gas Terms, For Now

(Argus, 6.Nov.2019) — Venezuela is offering sweeter fiscal terms to Russia’s state-controlled Rosneft for two offshore natural gas fields that are well-positioned to supply nearby Trinidad and Tobago, but the company has yet to make an investment commitment. The National Constituent Assembly (ANC), a rubber-stamp entity controlled by Venezuelan president […]

TOR Record R$70bn Bonuses

(ANP, 6.Nov.2019) — The Transfer of Rights Surplus Bidding Round, held today (November 6) by ANP, had two of the four areas on offer acquired (Búzios and Itapu), generating R$ 69.96 billion in signature bonus. This amount is a record and represents a value higher than the sum of all […]

Major Disappointment In Brazil’s Surplus Round

(Welligence, 6.Nov.2019) — Brazil’s Surplus Transfer of Rights round (6th November 2019), the biggest resource opportunity of the year globally, has ended in huge disappointment. Only two (Buzios and Itapu) of the four opportunities on offer were taken, there was no competition, no participation from the Majors, and the cash […]

Petrobras Takes Prize In Brazil’s TOR Round

(WoodMac, 6.Nov.2019) — Brazil’s largest-ever auction of oil licences – the Transfer of Rights round – saw state-controlled Petrobras walk away with the biggest prizes, the Búzios and Itapu blocks. Luiz Hayum, from Wood Mackenzie’s Latin America upstream research team, said: “As we anticipated, Búzios and Itapu were the stars […]

Petrobras Clarifies Gas Market Agreement

(Petrobras, 5.Nov.2019) — Petrobras clarifies that it has been fully complying with the schedule of commitments made in the agreement signed with the Administrative Council for Economic Defense (CADE) on July 8, 2019. It is worth mentioning the pre-established commitments in the agreement and that have been fulfilled by Petrobras: […]