(Petrobras, 29.Jul.2019) — Petrobras announces the closing, on this date, of the secondary public offering of 393,187,500 common shares issued by Petrobras Distribuidora S.A (“BR”) and held by Petrobras (“Shares” and “Offer”), in the total amount of R$ 9,633,093,750.00. The value of the Offer already includes the full exercise of […]
Category: Latin America and the Caribbean
Amerisur Reports Completion Of Sol-1 Well
(Amerisur, 29.Jul.2019) — Amerisur Resources Plc announced completion of testing operations at the Sol-1 exploration well in Colombia. CPO-5 (WI 30%): Sol-1 Exploration Well Update Testing operations on the Sol-1 exploration well are complete. As previously announced, the well was drilled to a final depth of 9,986ft. Following initial analysis, […]
India Boosts Imports Of Venezuelan Oil
(Argus, 29.Jul.2019) — India’s imports of Venezuelan crude jumped by 25pc year on year in June and by 37pc from May, reflecting the limited reach of US sanctions on the South American nation. Imports from Venezuela rose to 303,000 b/d last month from 221,000 b/d in May and 243,000 b/d […]
Petropiar JV starts blending
(Reuters, 29.Jul.2019, Words: 316) — Venezuelan state-run oil company PDVSA said on Monday the Petropiar extra-heavy crude upgrader, part-owned by U.S. oil company Chevron Corp, had begun operations as a blending facility. The facility, which used to produce upgraded crude destined mainly for the U.S. market, is expected to produce […]
Odebrecht Inks Post-‘Car Wash’ Deal With Petrobras
(Reuters, Marta Nogueira and Gram Slattery, 29.Jul.2019) — Brazil’s Petrobras has signed a two-year contract to lease a drilling rig from Ocyan, formerly known as Odebrecht Oleo e Gas, an executive told Reuters, in the first deal between the firms since a corruption scandal erupted five years ago. Petroleo Brasileiro […]
Guyana To Sell Share Of Oil Every 8 To 10 Days
(Guyana Standard, 29.Jul.2019) — Head of the Energy Department, Dr Mark Bynoe, disclosed today that Guyana’s share of the oil from the Stabroek Block will be sold every eight to 10 days via Free On Board (FOB). With FOB, the buyer would be responsible for purchasing and delivering it on […]
Chilean Navy Investigating Patagonian Island Oil Spill
(Reuters, 27.Jul.2019) — Chile is investigating a 40,000-liter diesel oil spill on an island on the far southern coast of Chilean Patagonia, the navy said on Saturday. Mining company CAP reported on Saturday that the spill occurred at its onshore terminal on Guarello Island, about 150 miles north of the […]
Bombing Halts Pumping On Transandino Pipeline
(Reuters, 26.Jul.2019) — Colombia’s state-run oil company Ecopetrol said on Friday it halted pumping on the Transandino pipeline after a bombing in southwestern Narino province. The attack did not produce a crude spill, the company said in a statement, but did dent the pipeline. It is the fourteenth attack this […]
Trump Govt Split Over Chevron’s Venezuela License
(Reuters, Timothy Gardner, 26.Jul.2019) — The Trump administration is split over whether to renew a license this week for energy company Chevron Corp’s operations in Venezuela, with Secretary of State Mike Pompeo supporting a renewal and others opposing it, three sources with knowledge of the matter said on Tuesday. At […]
Petrobras Reports 3.8% Rise In 2Q:19 Oil, Gas Output
(Reuters, 26.Jul.2019) — Brazil’s state oil firm Petroleo Brasileiro SA said on Friday total second-quarter oil and gas production was 2.633 million barrels per day of oil equivalent, up 3.8% from the previous quarter. Petrobras said in a securities filing the rise was driven by the ramp up of pre-salt […]
Chevron To Keep Drilling In Venezuela Despite Sanctions
(Reuters, 26.Jul.2019) — The administration of United States President Donald Trump said on Friday that it has renewed Chevron Corp’s licence to drill for oil and gas in Venezuela despite sanctions, signalling that it sees value in having the US oil producer operate in a country on the verge of […]
Petrobras Reports Modest Output Growth
(Reuters, Ana Mano and Gram Slattery, 26.Jul.2019) — Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade. In an early Friday securities filing, Petrobras, as the firm […]
Petrobras Expects Final Offers For Liquigás By Aug. 7
(Reuters, Gabriel Araujo, 25.Jul.2019) — Brazil’s state-run oil company PetrĂłleo Brasileiro SA expects to privatize natural gas distribution unit Liquigás next month as part of a broader divestment program, Chief Executive Roberto Castello Branco said on Thursday. Final binding offers for Liquigás are due by Aug. 7, Castello Branco told […]
YPF Advances LNG Exports With Excelerate’s Assistance
(Excelerate, 25.Jul.2019) — YPF announced that a preliminary agreement was reached with Excelerate Energy L.P. (Excelerate) for the charter of a liquefied natural gas (LNG) carrier, which will export LNG produced from the TANGO FLNG unit, located in BahĂa Blanca, to the global natural gas market. Both parties will be […]
Chevron In Crosshairs As Trump Exerts Maximum Pressure On Maduro
(Bloomberg, Kevin Crowley, Lucia Kassai and Kevin Cirilli, 25.Jul.2019) — Pressure is mounting on U.S. President Donald Trump to end Chevron Corp.’s 100-year presence in Venezuela as he seeks to exert maximum pressure on the embattled regime of Nicolas Maduro. Trump will announce his decision on whether to grant the U.S. […]
Petrobras Receives Over $100mn Via Recovered Assets
(Reuters, 25.Jul.2019) — Brazilian state-run Petrobras this week received 425 million reais ($112 million) as a result of leniency deals and recovered assets from parties involved in the country’s sprawling “Car Wash” corruption investigation, the oil firm said on Thursday. With the funds, Petroleo Brasileiro SA, as the firm is […]
Karoon Eyes Output Boost After Grabbing Field
(Reuters, Marta Nogueira, 25.Jul.2019) — Karoon Energy Ltd aims to boost production by more than 60% at an oilfield it is purchasing from Petroleo Brasileiro SA, as the independent Australian firm dramatically expands its operations in Brazil, an executive said on Thursday. Petrobras, as the Brazilian state-run oil firm is […]
CITGO Foundation Holds Symposium On Venezuelan Health Crisis
(Citgo, 25.Jul.2019) — The SimĂłn BolĂvar Foundation, the 501(c)(3) non-profit, private foundation of CITGO Petroleum Corporation, held an educational and networking event last night for the Houston community regarding the public health situation in Venezuela. The event featured keynote addresses from two public health experts: Dr. Marino J. Gonzalez R. […]
Chevron Call To Chart Venezuela Sanctions
(Argus, 25.Jul.2019) — A US government decision over Chevron’s expiring license to work in Venezuela is the first test of its willingness to ease sanctions that have so far failed to bring about regime change. Under oil sanctions imposed on 28 January, the US Treasury gave Chevron and a clutch […]
Petrobras CEO Says Liquigás To Be Privatized in August
(Reuters, 25.Jul.2019) — Roberto Castello Branco, chief executive of state oil company PetrĂłleo Brasileiro SA, said during an event on Thursday that Liquigás is the next unit that the Brazilian oil major intends to divest. After selling 33.75% of fuel distribution subsidiary Petrobras Distribuidora SA through a share offering this […]
Vista Oil & Gas Prices Public Offering With NYSE Listing
(Vista, 25.Jul.2019) — Vista Oil & Gas, S.A.B. de C.V. announced today the pricing of the underwritten public offering of the Company’s Series A shares as part of the global primary offering of 10,000,000 Series A shares. The global offering consisted of an international offering in the United States and […]
Petrobras Reports On BR Shares Purchase Option
(Petrobras, 25.Jul.2019) — Petrobras, pursuant to article 24 of CVM Instruction 400 of December 29, 2003, as amended, reports that today the over allotment option (“Greenshoe Option”) was fully exercised under the secondary public offering of shares issued by Petrobras Distribuidora SA (“BR”) and held by Petrobras. With the exercise […]
Petrobras Starts Phase For Sale Of Bahia Fields
(Petrobras, 25.Jul.2019) — Petrobras, following up on the release dated 07/08/2019, announces the beginning of the non-binding phase related to the sale of all its stakes in four onshore fields, located in Bahia, jointly known as Tucano Sul Cluster. Parties qualified for this phase will receive instructions on the divestment […]
Petrobras Receives R$425mn For Leniency Agreements
(Petrobras, 25.Jul.2019) — Petrobras received this week R$425 million as a result of leniency agreements and repatriations carried out by the Federal Prosecutor’s Office. Thus, the total amount of funds returned to the company as a result of cooperation, leniency agreements and repatriation exceeds R$ 4 billion. Such return involves: […]
Venezuela Opposition Divided Over ‘Oil-For-Food’ Program
(Reuters, Luc Cohen, 25.Jul.2019) — A proposal to modify U.S. oil sanctions on Venezuela to allow crude exports to be bartered for food has divided the country’s opposition between those who say the move would stave off famine and those who predict President Nicolas Maduro would abuse it. Henri Falcon, […]
T&T’s Lake Asphalt In Overdrive To Diversify
(T&T Newsday, Carla Bridglal, 25.Jul.2019) — For years the board and management of Lake Asphalt TT Ltd knew the company needed to diversify its product offerings. The company started making incremental changes to its strategy, attempting a shift from its primary business, selling the bitumen from Petrotrin’s Pointe-a-Pierre refinery. (Bitumen […]
Wintershall Dea And ConocoPhillips Team Up In The Prolific Neuquén Basin
(Wintershall, 25.Jul.2019) — ConocoPhillips is a new partner in the Aguada Federal and Bandurria Norte blocks with Wintershall Dea. The two companies will advance the development of the significant Vaca Muerta shale resources in the blocks. Wintershall Dea is pleased to announce that it has signed a Sales and Purchase […]
Core Laboratories Sets Earnings Call Schedule
(Core Laboratories, 24.Jul.2019) — Core Laboratories N.V. scheduled a conference call to discuss Core’s second quarter 2019 earnings announcement. The call will begin at 7:30 a.m. CDT / 2:30 p.m. CEST on Thursday, 25 July 2019. To listen to the call, please go to Core’s website at www.corelab.com. ***
Weatherford Awarded Contract With Colombia, South America Operator
(Weatherford, 24.Jul.2019) — Weatherford International plc announced a contract win with a Colombia, South America operator to migrate seven LOWIS® sites (3,000 wells) to the Company’s ForeSite® Production Optimization software platform. Under the newly signed contract, the Company will provide all maintenance and services for the software platform for five […]
Petrobras Signs $1.5bn Deals To Sale Shallow Water Assets
(Petrobras, 24.Jul.2019) — Petrobras announces that today it signed two contracts for the sale of upstream assets in shallow waters in Campos and Santos Basins, in the total amount of US$ 1.5 billion (about R$ 5.7 billion). The transactions refer to: (i) the sale of 100% of its interest in […]
Petrobras Informs CARF’s Decision Related To CIDE
(Petrobras, 24.Jul.2019) — Petrobras said the Administrative Board of Tax Appeals (CARF) issued today an unfavorable decision on an administrative tax proceeding which deals with the collection of CIDE – Import tax regarding remittances abroad for the payment of charter contracts in the calendar year of 2010, in the approximate […]
Petrobras Signs Shallow Water Deals For $1.5bn
(Petrobras, 24.Jul.2019) — Petrobras signed two contracts for the sale of upstream assets in shallow waters in Campos and Santos Basins, in the total amount of US$ 1.5 billion (about R$ 5.7 billion). The transactions refer to: (i) the sale of 100% of its interest in the Pampo and Enchova […]
Atacama Bio Launches Algae Astaxanthin
(Atacama Bio, July 24, 2019) — Today, Iquique, Chile-based Atacama Bio Natural Products announced the introduction of NatAxtin™ branded natural astaxanthin available as biomass, oleoresin oil and powder for use in food, to the North American dietary supplement marketplace. Atacama Bio has manufactured natural Astaxanthin derived from Haematococcus pluvialis globally […]
Core Lab Reports 2Q:19 Results
(Core Laboratories, 24.Jul.2019) — Core Laboratories N.V. reported that continuing operations resulted in second quarter 2019 revenue of $169,000,000. Second quarter 2019 revenue was impacted by a mid-quarter divestment of a non-strategic business in Asia Pacific and a softer than expected North American services market. Core’s operating income was $28,000,000 […]
Guaido Says To Protect Chevron Assets In Venezuela
(Reuters, Luc Cohen) — Venezuelan opposition leader Juan Guaido said on Tuesday he would seek to protect Chevron Corp’s assets in the country if the United States does not renew a license allowing the company to operate despite sanctions on the OPEC nation’s oil sector. Venezuelan opposition leader Juan Guaido, […]
Big Splash for Deep Blue in Brazil
(TechnipFMC, 23.Jul.2019) — The Deep Blue is making a big splash in Brazil. TechnipFMC’s flagship deepwater pipelay and construction vessel is embarking on a major subsea project laying pipeline on the Peregrino Phase 2 Project in the Campos Basin offshore Brazil. Deep Blue will install rigid and flexible pipelines as […]
Petrobras Informs CARF’s Charter Contracts Decision
(Petrobras, 23.Jul.2019) — Petrobras reports that the Administrative Board of Tax Appeals (CARF) issued today an unfavorable decision on an administrative tax proceeding in the amount of about R$ 5.22 billion, which deals with the collection of PIS/COFINS – Import tax regarding remittances abroad for the payment of charter contracts […]
Petrobras Approves Debentures Public Offering
(Petrobras, 23.Jul.2019) — Petrobras, in compliance with the provisions of Instruction no. 358 of January 3, 2002, issued by the Securities and Exchange Commission of Brazil (“CVM”), hereby informs that the Board of Directors, in a meeting held today, approved the 7th (seventh) issuance of simple, non-convertible unsecured debentures (“Debentures”), […]
Petrobras Prices Offering Of Petrobras Distribuidora (BR)
(Petrobras, 23.Jul.2019) — Petrobras announced today the pricing of the secondary public offering of shares of Petrobras Distribuidora S.A. Petrobras’s Board of Directors approved today the sale of 349,500,000sharesin BR Distribuidora, including 58,250,000 additional shares as part of Petrobras’s option to increase the base offer by 20%. The offer priced […]
Petrotrin Lies Will End Keith Rowley’s Reign As PM
(T&T Newsday, Yvonne Webb, 23.Jul.2019) — President General of the Oilfield Workers Trade Union (OWTU) Ancel Roget is predicting that the many lies told about the closure of Petrotrin would mark the end of the reign of Prime Minister Dr Rowley’s administration. Just as the “campaign of lies and deceit” […]
Venezuela’s Oil Output Collapse: IHS Markit
(Ford Tanner, 23.Jul.2019) — Venezuela’s political crisis remains in stalemate. Escalating oil-sector sanctions imposed by the United States have contributed to massive declines in crude oil production, but the collapse of Venezuela’s petroleum industry has not resulted in a political shift. President Nicolás Maduro appears to maintain full control of […]
BP And Bunge To Create Bioenergy Company
(Bunge, 22.Jul.2019) — Bunge Limited announced an agreement with BP plc to form a 50:50 joint venture that will create a leading bioenergy company (the “joint venture”) in Brazil, one of the world’s largest fast-growing markets for biofuels. Bunge will receive cash proceeds of $775 million in the transaction, comprising […]
Constellation Reports New Contract Awards In Brazil
(Constellation, 22.Jul.2019) — Constellation Oil Services Holding S.A. announced three of the Company’s ultra-deepwater (UDW) rigs, Alpha Star, Gold Star, and Lone Star, have been awarded new firm contracts with Petrobras S.A. for two years. The drilling activities will be performed offshore of Brazil and operations under each contract is […]
Venezuela Govt Says Blackouts Caused By ‘Electromagnetic Attack’
(Reuters, 22.Jul.2019) — More than half of Venezuela’s 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an “electromagnetic attack.” It was the first blackout to include the capital, Caracas, since March, when the government blamed the opposition […]
PM Keith Rowley Visits TOFCO With BPTT
(T&T Newsday, Carla Bridglal, 22.Jul.2019) — Prime Minister Dr Keith Rowley visited the TOFCO fabrication yard in La Brea on Friday with BPTT team, led by regional president Claire Fitzpatrick, to view fabrication of the jacket and bridge landing for the company’s Cassia C project. Cassia C is BPTT’s next […]
Fallout From Sweet Oil Deal For Venezuela’s Neighbors
(NPR, 20.Jul.2019) — It sounded like such a good idea at the time. The year was 2005. Global oil prices were climbing dramatically. Countries in the Caribbean were facing major fuel shortages. Venezuela, one of the world’s largest producers of crude, offered to ease the staggering fuel costs faced by […]
Petrobras Reports On Bidding To Acquire Pampo And Enchova Poles
(Petrobras, 19.Jul.2019) — Petrobras informs that in the scope of the bidding process for total disinvestment of Petrobras’ interests in Pampo and Enchova Poles in Campos Basin, Trident Energy has delivered the best final bid for assets acquisition. Regarding media reports about this operation, the Company clarifies that the price […]
Petrobras Clarifies Fuel Supply For Iranian Vessels
(Petrobras, 19.Jul.2019) — Petrobras clarifies media reports related to the supply of fuel to two Iranian vessels. Petrobras did not provide fuel to the exporting company because the Iranian vessels it contracted and the Iranian company that owns those vessels are sanctioned by the United States and are listed in […]
McDermott Awarded Pre-FEED Contract For Vaca Muerta LNG In Argentina
(McDermott, 19.Jul.2019) — McDermott International, Inc. has been awarded a sizeable* contract by Argentina-based YPF, S.A. to provide pre-front-end engineering design (Pre-FEED) services for a five million tonnes per annum (MTPA) LNG Liquefaction Facility, with a potential expansion to 10 MTPA, at the Vaca Muerta Shale field in Argentina. The […]
PDVSA Partly Restarts Amuay After Blackout
(Reuters, 18.Jul.2019) — Venezuelan state oil company PDVSA partly restarted activity at its 645,000 barrel-per-day (bpd) Amuay refinery where a blackout halted operations in early Jul., four sources with knowledge of the matter said, though it remained well below capacity. The refinery’s catalytic cracker restarted and was processing 68,000 bpd, […]