(Ecopetrol, 18.Jul.2019) — Ecopetrol S.A. said the Ministry of Mines and Energy of Brazil has authorized the transfer of a 10% stake in the Saturno block, located in the Santos basin, to its subsidiary, Ecopetrol Ă“leo e Gas Brasil. Previously, this percentage was equally held by Shell Brasil PetrĂłleo Ltda […]
Category: Latin America and the Caribbean
Vista Commences Proposed Public Offering
(Vista, 18.Jul.2019) — Vista Oil & Gas, S.A.B. de C.V. announced commencement of an underwritten public offering of the Company’s Series A shares (the “Series A shares”), which may be represented by American Depositary Shares (ADSs), as part of a global primary offering of 10,000,000 Series A shares pursuant to […]
South America’s Guyana Enters The Oil Age
(Kevin Ramnarine, 18.Jul.2019) — In February 2017, I captioned an article about the Guyana-Suriname basin, The New North Sea, comparing ExxonMobil’s discoveries in Guyana to discoveries in the Norwegian North Sea starting in 1969. When I wrote that article, ExxonMobil announced its success with the Payara-1 exploration well after two […]
Sanctions Squeeze Venezuela’s EHCO Output
(Petroleum Economist, 18.Jul.2019) — Latin America’s economically troubled oil giant faces the difficult task of significantly raising Asian crude grades. Venezuela’s upgraders have been forced to stop upgrading extra-heavy crude and instead focus on blending light and heavy grades, as US sanctions limit exports of the South American country’s most […]
Frontera Expands Colombian Exploration Acreage
(Frontera, 16.Jul.2019) — Frontera Energy Corporation announces the award of the VIM-22 block in addition to LLA-99 block which was previously announced on June 27, 2019 under the successful Agencia Nacional de Hidrocarburos (“ANH”) bid round. Definitive award documentation will be entered into later this month. Block Gross Acres Operator […]
Pemex Presents Business Plan 2019-2023
(Pemex, 16.Jul.2019) — In the presence of the president of Mexico, AndrĂ©s Manuel LĂłpez Obrador, the chief executive officer of PetrĂłleos Mexicanos, Octavio Romero Oropeza, presented Pemex’s Business Plan for the years 2019-2023. It was unanimously approved by the Board of Directors and lays the foundations for the modernization of […]
Talos Energy To Announce 2Q:19 Results 7 August 2019
(Talos, 16.Jul.2019) — Talos Energy Inc. intends to release second quarter 2019 results for the period ended June 30, 2019 on Wednesday, August 7, 2019 after the U.S. financial market closes. In addition to this release, Talos Energy will host a conference call, which will be broadcast live over the […]
Petrobras Sets Release Dates For 2Q:19 Results
(Petrobras, 16.Jul.2019) — Petrobras, focusing on providing greater transparency in its information, reports that as from this quarter, it will disclose the production and sales report prior to the company’s financial statements report. On July 25th, after market closes, the company will release its quarterly production and sales report for […]
Petrobras Announces Early Tender Results
(Petrobras, 16.Jul.2019) — Petrobras announced the early results of its previously announced debt tender offers (the “Waterfall Offers”). As of 5:00 p.m., New York City time, on July 15, 2019 (the “Early Tender Deadline”) holders of US$1,790,166,000 principal amount of the outstanding notes of the series set forth in the […]
Frontera To Host 2Q:19 Conference Call
(Frontera, 16.Jul.2019) — Frontera Energy Corporation plans to announce its second quarter 2019 results will be released after market on Thursday, August 1, 2019 followed by a conference call for investors and analysts on Friday, August 2, 2019 at 8:00 a.m. (MDT), 9:00 a.m. (GMT-5) and 10:00 a.m. (EDT). Participants […]
Petrobras Starts Non-Binding Phase Asset Sales In Brazil
(Petrobras, 15.Jul.2019) — Petrobras, following up on the release dated 06/28/2019, announces the beginning of the non-binding phase related to the first phase of the sale of assets in downstream and associated logistics in Brazil, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, Landulpho Alves (RLAM) in Bahia, […]
Argentina: YPF Will Sell CNG At Its Gas Stations
(PetroPlaza, 15.Jul.2019) — The high production of Vaca Muerta’s field has driven the oil company to enter the Argentinian natural gas market. The high production of natural gas from Vaca Muerta’s field has prompted YPF Argentina to offer natural-based fuel in its network of gas stations. The company has stated […]
Petrobras Announces BaĂşna Field Sale Offer
(Petrobras, 15.Jul.2019) — Petrobras informs that in the scope of the competitive sale process for the sale of its entire stake in BaĂşna field (concession area BM-S-40), located in shallow waters in the Santos basin, Karoon PetrĂłleo & Gás Ltda. presented the best proposal. However, in relation to the news […]
Petrobras Reports Naming Of BODs Members
(Petrobras, 15.Jul.2019) — Petrobras reports that its Board of Directors approved the appointment of Mr. Walter Mendes de Oliveira Filho for the position of member of the company’s Board of Directors. The election of Mr. Walter Mendes will be submitted to the next General Shareholders’ Meeting of Petrobras, called for […]
Canacol Says Ocarina 1 And Nelson 7 Test At 59 MMcf/d
(Canacol, 15.Jul.2019) — Canacol Energy Ltd. announced results of the Ocarina 1 exploration well located on its 100% operated VIM 5 block, and the flow testing results of the Nelson 7 development well located on its 100% operated Esperanza block, both situated in the Lower Magdalena Valley Basin of Colombia. […]
Colombia: Judge Issues Order For U.S. Oil Executive
(OCCRP, 15.Jul.2019) — A Colombian judge requested on Friday the extradition of an American oil executive who is a suspect in one of the biggest corruption scandals in Colombia. Local media say he and his associates spent nearly US$16 million of embezzled money on prostitutes. Masoud Deidehban is accused of […]
Brazil Gas Plan Seen Luring Naturgy, Engie, Others
(Reuters, 15.Jul.2019) — Recently announced plans to foster competition in the Brazilian natural gas market may trigger a wave of privatizations among state-controlled distribution companies, luring international and domestic bidders, experts on the sector say. Brazil’s Cosan SA and Spain’s Naturgy Energy Group SA, are among the companies potentially interested […]
Vaca Muerta Output Growth Leads To LNG Exports
(EIA, 12.Jul.2019) — Argentina’s domestic natural gas production has been rising steadily in the past three years, largely because of increasing production from the NeuquĂ©n Basin’s Vaca Muerta shale and tight gas play. Production from Vaca Muerta surpassed 1.0 billion cubic feet per day (Bcf/d) in December 2018. As production […]
Ecuador Court Ruling Deemed A Win For Waorani
(Reuters, 12.Jul.2019) — A court in Ecuador has upheld a ruling that prevents the government from selling land in the Amazon rainforest to oil companies, a move activists called a historic win for the Waorani indigenous tribe living there. The government had appealed an earlier court ruling in April that […]
Colombia Reschedules Aborted Tender
(Windpower Monthly, David Wes, 12.Jul.2019) — Developers with renewable energy projects of over 5MW that can be online by 1 January 2022 are invited to bid. The ministry of mines and energy has increased the contract length from the originally proposed 12 years in February’s tender, up to 15 years. […]
EPM Announces Expiration Of Tender Offer
(EPM, 11.Jul.2019) — Empresas PĂşblicas de MedellĂn E.S.P. (EPM) announced expiration and results of its previously announced offer to purchase for cash any and all of its outstanding 8.375% Notes due 2021 (CUSIP No.: 29246B AB4 (144A) / P9379R AB3 (Reg S) / ISIN No.: US29246BAB45 (144A) / USP9379RAB35 (Reg […]
Bolivia Strikes Gas Deal Russian Giant In Brazil
(Reuters, 11.Jul.2019) — Bolivia’s state energy firm has sealed a deal to supply gas to Russian fertilizer giant Acron’s plants in Brazil, the two sides said on Thursday, opening up a potentially important new market for the landlocked South American country. Bolivian state-owned YPFB agreed the sale of 2.2 million […]
Ecopetrol Finds Oil At Boranda-2 ST Well
(Ecopetrol, 11.Jul.2019) — Ecopetrol S.A. reports that the Boranda-2 ST well, located in Rionegro (Santander), has discovered the presence of crude in the Eoceno basal sands. The well was drilled from the same platform as the Boranda-1 discovery well (finding reported in 2017 in the PlayĂłn block, now known as […]
ANH Signs PPAA Deals Worth $158mn With Geopark, Hocol
(ANH, 11.Jul.2019) — After more than five years without offers or rounds of new blocks for Exploration and Production of hydrocarbons in Colombia, the new Permanent Process of Area Allocation (PPAA) launched by the National Hydrocarbons Agency – ANH at the beginning of 2019 starts to bear its first fruits […]
Talos Increases Credit Facility Commitments And Provides Hedging Update
(Talos, 10.Jul.2019) — Talos Energy Inc. provided an update on the results of its semi-annual borrowing base redetermination and recent hedging activities. Effective July 3, 2019, the Company’s borrowing base of $850 million was unanimously reaffirmed by participants of its syndicated credit facility. In conjunction with the regularly scheduled redetermination, […]
Argentina Opens Tender For $2bn Vaca Muerta Pipeline
(Reuters, 10.Jul.2019) — Argentina has opened the tender for a new $2 billion gas pipeline from the huge Vaca Muerta shale field, which according to the country’s Energy Secretariat, should be completed the middle of 2021. The pipeline, which a government source previously estimated would cost $2 billion, will run […]
DomRep Launches First Oil Licensing Round
(WoodMac, 10.Jul.2019) — The Dominican Republic today launched its first licensing round, putting 14 blocks across its on- and offshore basins up for bid. The Dominican Republic’s Ministry of Energy and Mines said the blocks on offer lie in the Cibao, Enriquillo, Azua, and San Pedro basins. Wood Mackenzie, a […]
Siemens Turbine Generator To Power Eni Mexico Area 1
(Siemens, 9.Jul.2019) — Siemens will provide MODEC with three 34-megawatt (MW) SGT-A35 gas turbine power generation packages that will power MODEC’s floating production, storage, and offloading (FPSO) vessel. The vessel, referred to as the “Eni Mexico Area 1 FPSO,” will be deployed in the Offshore Area 1 approximately 6 miles […]
Bolivia To Buy Petrobras’ Stake In Gas Pipeline
(Reuters, 9.Jul.2019) — Bolivia’s state-owned oil company YPFB plans to bid on a stake in a natural gas pipeline linking the country to Brazil to secure better terms for its gas sales there, the company said on Tuesday. YPFB intends to bid on an unidentified portion of the 51% stake […]
PdV To Tap Fractionator To Replace Imported Naphtha
(Argus, 9.Jul.2019) — Venezuela’s national oil company PdV is seeking to adapt its infrastructure to cope with a shortage of imported naphtha that is hindering heavy crude production and exports. The company said it plans to build two small pipelines at its Jose industrial complex to supply its 210,000 b/d […]
Trinidad Downgraded By Standards And Poor’s
(Guardian, Curtis Williams, 9.Jul.2019) — Trinidad and Tobago has suffered a downgrade in its sovereign ratings from credit rating agency Standard and Poor’s. In its update on this country, S&P said the decision to downgrade T&T was based on lower-than-expected energy production and economic growth which it expects to weaken […]
Valerie Bosse To Head Wintershall Dea In Brazil
(Wintershall, 9.Jul.2019) — Change at the top of Wintershall Dea in Brazil: Valerie Bosse is the new Managing Director of the Wintershall Dea Business Unit Brazil and is responsible for all previous Wintershall and DEA activities in the country. On 30 April 2019, the two German companies Wintershall Holding GmbH […]
Mexico Auctions Moratorium Give Rival Brazil An Edge
(Bloomberg, Peter Millard and Amy Stillman, 9.Jul.2019) — Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. ‘Mexico President Andres Manuel Lopez Obrador has halted new bid rounds, and state-owned Petroleos Mexicanos has disappointed potential partners by […]
Petrobras Announces Tender Offers Expiration Date
(Petrobras, 8.Jul.2019) — Petrobras announced the expiration and expiration date results of the previously announced offers to purchase by its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF), of any and all of its outstanding notes set forth in the table below (the “Notes”). The Offers were made pursuant to the […]
Petrobras And CADE Ink Natgas Market Deal
(Petrobras, 8.Jul.2019) — Petrobras reports that it signed an Agreement with the Administrative Council for Economic Defense (CADE), which consolidates understandings between the parties on the promotion of competition in the natural gas industry in Brazil, including the sale of shareholdings in companies operating thereof. The purpose of the Agreement […]
Venezuela’s CRP Shuts Down After Blackout
(Oilprice.com, Irina Slav, 8.Jul.2019) — Venezuela’s refining complex CRP has been shut down after a blackout that occurred on Sunday, Argus Media reports, citing union officials from the complex as saying the blackout was caused by a “catastrophic failure” in a turbine at the power plant that supplies electricity to […]
YPF Launches YPF Ventures, Invests In Bird
(YPF, 8.Jul.2019) — YPF announced the launch of YPF Ventures, a corporate venture capital fund that will expand YPF’s influence into emerging energy businesses. YPF is one of Latin America’s largest energy companies with $15B in revenue and 21 thousand employees. YPF Ventures is distinct from other corporate energy venture […]
PDVSA to Restart CRP Refining by 10 Jul. 2019
(Argus, 8.Jul.2019) — Venezuela´s state-owned PdV plans to restart crude processing at the 940,000 b/d CRP refining complex by 10 July after electricity supply was restored on the Paraguana peninsula, the oil ministry said. The oil ministry said the CRP complex remained off line as of 6pm ET today, but […]
Petrobras Chief Governance, Compliance Officer Resigns
(Petrobras, 5.Jul.2019) — Petrobras informs that its Chief Governance and Compliance Executive Officer, Rafael Mendes Gomes, presented his resignation from the position, for personal reasons. Petrobras will initiate a selection process to choose the new Officer who, according to the company’s governance rules, must be elected by the Board of […]
Eco, Total, Tullow Spud Jethro-Lobe Offshore Guyana
(Eco, 5.Jul.2019) — Eco (Atlantic) Oil & Gas Ltd. announced that drilling operations have commenced offshore Guyana with the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block. Jethro-Lobe was spud at 22:45hrs (Local Guyana time) on Thursday 4th July 2019 using the Stena Forth […]
About Guyana: GECOM
(GECOM, 5.Jul.2019) — Guyana, the only English speaking country in South America was first inhabited by the Amerindians until the era of the European exploration when the Spanish began using it as a trading post during the 16th Century. Background and history Guyana, the only English speaking country in South […]
Arrest Warrant Issued For Former Pemex CEO
(Reuters, 5.Jul.2019) — Mexico’s attorney general’s office said on Friday that a judge issued arrest warrants for the former chief executive of state oil firm Pemex, Emilio Lozoya, three of his family members and one other person, in a graft case involving Brazilian builder Odebrecht. The Finance Ministry said in […]
Petrobras Clarifies On Liquigás Divestment
(Petrobras, 5.Jul.2019) — Petrobras, in relation to the news published in the media, regarding the sale of Liquigás Distribuidora SA, clarifies that this divestment project is in the binding phase, as disclosed to the market in June 20, 2019. In the previous phase of the project, Petrobras received non-binding offers, […]
Petrobras Starts Teaser For Espirito Santo E&P Assets
(Petrobras, 5.Jul.2019) — Petrobras started the opportunity disclosure stage (teaser), related to the sale of its entire working interest in Peroá and Cangoá production fields and in the concession BM-ES-21 (Malombe discovery appraisal plan), located in the EspĂrito anto Basin, including the shared outflow and production offshore facilities and the […]
Petrobras Informs Of Capital Interest Payment
(Petrobras, 5.Jul.2019) — Petrobras informs that in connection to the press released of May 7th, 2019 that it is paying today Interest on Capital (IOC), as defined in art. 9, sole paragraph of its Bylaws. The gross value to be distributed, totaling R$ 1,304,420,126.10, corresponds to a gross amount of […]
Trafigura Pte. To Export 340,000 Barrels Of VGO
(Energy Analytics Institute, Piero Stewart, 4.Jul.2019) — Trafigura Pte. Ltd. was awarded a deal by EP Petroecuador for the export of 340,000 barrels ± 3% of Vacuum Gas Oil (VGO). The deal will be completed with two shipments comprised of 170,000 bbls ± each, EP PetroEcuador announced 4 July in […]
The National Gas Company Key To Gas Value Chain
(T&T Newsday, Clint Chan Tack, 4.Jul.2019) — The National Gas Company (NGC) needs to remain a key part of this country’s natural gas value chain, but it may have to be more flexible in terms of how it deals with its customers – and the Government will also have to […]
Dozens Arrested For Murder, Extortion Of Petrobras Contractors
(Reuters, Gram Slattery and Rodrigo Viga Gaier, 4.Jul.2019) — Police in Rio de Janeiro arrested more than 40 people on Thursday for their alleged roles in a murderous gang that extorted companies working for state-run oil company Petrobras and established a secret cemetery to dispose of rivals. The arrests highlight […]
Guyana To Boost Royalties On Future Oil Licenses
(Reuters, 3.Jul.2019) — Guyana is preparing to raise the take of the government in future oil licences, the director of the South American country’s Department of Energy said on Wednesday. U.S. energy giant Exxon, French group Total and Britain’s Tullow Oil are drilling wells offshore Guyana, where Exxon has discovered […]
Frontera Announces 2Q:19 Peru And Colombia Update
(Frontera, 3.Jul.2019) — Frontera Energy announces a second quarter 2019 operational update. All values in this news release and the Company’s financial disclosures are in United States dollars, unless otherwise noted. Second Quarter Production and Average Oil Prices Frontera delivered estimated second quarter 2019 production of 74,285 boe/d, representing quarterly […]