(Platts, 10.Jun.2019) — Mexico’s already liberalizing fuel market will become far more competitive in 2020 as several private midstream projects start operations, multiple oil company executives say. Infrastructure shortages has allowed state Pemex to control more than 90% of Mexico’s gasoline imports in March, according to government data, despite the […]
Category: Latin America and the Caribbean
Petrobras Announces Secondary Equity Offering By Caixa EconĂ´mica Federal
(Petrobras, 10.Jun.2019) — Petrobras announces that Caixa EconĂ´mica Federal (the “Selling Shareholder”), has commenced an offering of 241,340,371 common shares, without par value, of Petrobras, including Common Shares represented by American depositary shares, each of which represents two Common Shares (the “Common ADSs”), in a global offering that consists of […]
Europe’s Norway To Fund 30 MW Solar-Plus-Storage In Guyana
(Renewables Now, 10.Jun.2019) — Norway, through its ministry of climate, has approved the transfer of funds for the construction of 30 MW of solar photovoltaic (PV) farms with energy storage in Guyana. According to the Guyanese department of public information, Norway will release GYD 16 billion (USD 77m/EUR 68m) to […]
Eco Reports Mobilization Of Stena Forth Drillship To Orinduik Block, Guyana
(Eco Atlantic, 10.Jun.2019) — Eco (Atlantic) Oil & Gas Ltd. announced mobilisation of the Stena Forth drillship which is now en route to Guyana from West Africa where it has been operating for Tullow. The drillship is expected to reach Eco’s Orinduik Block on or around 24 June 2019 and […]
Petrobras Says CEF To Divest $1.86 Billion Stake
(Reuters, 10.Jun.2019) — Brazil’s state-run oil company Petroleo Brasileiro SA said Caixa EconĂ´mica Federal will sell a stake worth 7.2 billion reais ($1.86 billion) in the company, according to a securities filing on Monday. Caixa will sell 241.3 million common shares in the oil company in a secondary offering, the […]
Norway To Fund 30 MW Of Solar-Plus-Storage In Guyana
(Renewables Now, 10.Jun.2019) — Norway, through its ministry of climate, has approved the transfer of funds for the construction of 30 MW of solar photovoltaic (PV) farms with energy storage in Guyana. According to the Guyanese department of public information, Norway will release GYD 16 billion (USD 77m/EUR 68m) to […]
Itaipú Dam Talks To Vent Paraguay’s Pent-up Energy
(FT.com, Andres Schipani, 10.Jun.2019) — From the GuaranĂ language, ItaipĂş translates as “the sounding stone”, echoing the reverberations the Paraná river makes as it flows between and around underwater rocks. Centuries ago, a Jesuit missionary described the GuaĂra falls in the area as the “river raining down with the utmost […]
JPS To Get Tax Break On Lithium Batteries
(Jamaica Gleaner, Neville Graham, 9.Jun.2019) — Light and power supplier Jamaica Public Service Company (JPS) is in line for a tax break as it follows through on plans to add storage capacity to the national grid. Last week, State Minister in the Ministry of Industry, Commerce, Agriculture and Fisheries Floyd […]
Fire Near PdV’s PLC Refinery Kills Three
(Argus, 9.Jun.2019) — A fire yesterday near state-owned PdV’s 190,000 b/d Puerto La Cruz refinery killed at least three people. Civil emergency and Anzoategui state firefighting officials blamed the fire on an electricity transmission cable that fell into a crude waste storage pond after an exploding transformer cut the cable. […]
Heard On The Street Colombia: Fracking, Budget Price, Shale, Gas Supply
(Energy Analytics Institute, Aaron Simonsky, 9.Jun.2019) — Heard on the street related to the Colombian upstream, midstream, downstream and renewable energies sectors. — Colombia’s state oil company Ecopetrol plans to spend $500 million between 2019-2021 on an unconventional project that includes drilling 20 wells to gauge community interest and potential […]
LatAmNRG Q&A Series With Barry Blacklock About Water Management In Fracking
(Energy Analytics Institute, Ian Silverman, 8.Jun.2019) — As part of Energy Analytics Institute’s ongoing coverage of the Latin America and Caribbean energy sectors from conventionals, unconventionals to renewables, Calgary-based Consultant Barry Blacklock weighs in on the fracking debate in Colombia and one of many headwinds to face the Andean country: […]
Colombian Streets Filled With Protests Against Fracking
(Energy Analytics Institute, Piero Stewart, 7.Jun.2019) — Protesters in Colombia took to the streets across the Andean country on Friday 7 June to show their disagreement with the government of President Ivan Duque to move forward with fracking in the country. Related Story: Exploring The Innovative Evolution of Hydraulic Fracturing […]
Challenges Stall Mexico’s Billion-dollar Oil Hedge In 2019
(Reuters, Devika Krishna Kumar, Stefanie Eschenbacher, and Marianna Parraga, 7.Jun.2019) — The world’s biggest and most secretive financial oil trade is facing unusual roadblocks this year. Mexico typically buys as much as $1 billion worth of financial positions to protect its revenues from oil sales for the coming year against […]
Ecopetrol Reports Attack Along Caño Limón Coveñas Pipeline In Arauca
(Energy Analytics Institute, Piero Stewart, 7.Jun.2019) — Colombia’s state oil company Ecopetrol activated a contingency plan after the most recent attack on 7 June along the Caño LimĂłn Coveñas near La Pajuila, Saravena (Arauca). The attack caused a pipeline rupture and resultant oil spill that covered soil and vegetable growth […]
Bolivia’s Generation Capacity Expected To Reach 3,300 MW In 2019
(Energy Analytics Institute, Ian Silverman, 7.Jun.2019) — Bolivia’s generation capacity is expected to rise this year by 1,000 megawatts (MW) to 3,300 MW, representing an increase of 43.4% compared to what the country currently produces, Bolivia’s Information Agency (ABI) reported, citing Bolivia’s President Evo Morales. “We’re generating 2,300 megawatts in […]
Petrobras Reports On Secondary Public Offering Of BR Distribuidora Shares
(Petrobras, 7.Jun.2019) — Petrobras, following up on the release of05/22/2019, informs that on this date it has submitted to the Brazilian Association of Financial and Capital Market Entities (“ANBIMA”) a request for prior analysis for registration of the secondary public offering for distribution of common shares issued by Petrobras Distribuidora […]
LatAmNRG Bolivia Briefs: Putin-Morales Meeting, Lithium, Potassium Chloride
(Energy Analytics Institute, Aaron Simonsky, 7.Jun.2019) — Heard on the street related to the Bolivian upstream, midstream, downstream and renewable energy sectors including: Russian President Vladimir Putin’s plans to meet his Bolivian counterpart Evo Morales in July; Bolivia has exported 22,000 tons of potassium chloride to Brazil; Bolivia eyes deciding […]
UOCRA Union Leader Arrested In Argentina
(Energy Analytics Institute, Aaron Simonsky, 7.Jun.2019) — UOCRA union leader Juan Carlos Levi was reportedly arrested in Argentina after a search of his home, online media Diariamente Neuquen reported. Levi is is being investigated for his involvement in a shootout recently at the Sierras Blancas Field operated by Shell Argentina, […]
TPHL Bondholders Support Amended Offer
(Trinidad and Tobago Newsday, 7.Jun.2019) — Trinidad Petroleum Holdings Ltd’s (TPHL) decision to amend the terms of its exchange offer for its bonds due this year and 2022, has been welcomed by bondholders. The bondholders established a committee which comprises a large group of international investment firms who are holders […]
Energy Minister Khan: No Venezuelan Crude For Trinidad
(Trinidad and Tobago Newsday, Sean Douglas, 7.Jun.2019) — The refined oil imported by Paria Fuel Trading Company for local consumption after the closure of the Petrotrin refinery does not include oil produced by Venezuela’s state-run oil company PDVSA, Energy Minister Franklin Khan told the Senate on Thursday. Opposition Senator Wade […]
Petrobras Announces Favorable Supreme Court Decision
(Petrobras, 6.Jun.2019) — Petrobras said the Plenary of the Federal Supreme Court (STF) reversed the provisional injunction granted by Minister Ricardo Lewandowski in ADI 5624, which conditioned the sale of control of subsidiaries and subsidiaries of state-owned companies to prior legislative authorization and public bidding. Petrobras continues with its divestments, […]
Neo Lithium Finds High Grade Lithium At Greater Depth In Argentina
(Neo Lithium, 6.Jun.2019) — Neo Lithium Corp. announced report new drilling results from its wholly-owned Tres Quebradas lithium brine project (“3Q Project”) in Catamarca Province, Argentina. The Company filed a reserve estimation on May 7, 2019 within prefeasibility study (PFS) which defined proven and probable reserves of 1,294,000 tones of […]
U.S. Tightens Venezuela Oil Sanctions, Indicates More Actions To Come
(Reuters, Roberta Rampton, 6.Jun.2019) — The U.S. Treasury Department on Thursday tightened its pressure on Venezuela’s state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions. The change, announced on the Treasury Department’s website, is the latest U.S. measure aimed at […]
Pemex Debt Holders See Downgrade To ‘Junk’ Status Ahead
(Reuters, Stefanie Eschenbacher and Ana Isabel Martinez, 6.Jun.2019) — Investors at six of the world’s largest asset managers, all of whom own the bonds of Mexican national oil company Pemex, expect them to be downgraded to “junk” status within months. This could spur massive sales of the company’s bonds and […]
ANP 16th Bid Rounds: Mitigating Sky-high Bonuses
(WoodMac, 6.Jun.2019) — After three highly competitive exploration bid rounds in 2018, momentum is building for Brazil’s three-round licensing bonanza that starts later this year. While the PSC Round 6 planned for November still looks to be on track, the remaining rounds are less certain. Originally planned for October, the […]
EP PetroEcuador Hosts Executives From Japanese Companies
(Energy Analytics Institute, Piero Stewart, 6.Jun.2019) — Executives from the Japanese companies Mitsubishi Motors, Nexi Nippon Export and Investment Insurance and Bank of Tokyo conducted meetings with EP PetroEcuador General Manager Pablo Flores to study and explore business opportunities for the benefit of Ecuador and Japan, EP PetroEcuador said in […]
PetroEcuador Completes Second Spot Sale Of 2019 With A $3.09/bbl WTI Spread
(Energy Analytics Institute, Piero Stewart, 6.Jun.2019) — EP PetroEcuador awarded for export 3,960,000 barrels of Oriente crude oil of 24-degree API plus/minus 5% to Tesoro Refining and Marketing Company LLC, the state company said in an official statement on 5 June. The award was at a positive differential of $3.09 […]
Colombia’s ANH And Hocol Inaugurate Solar Powered Pumping System
(Energy Analytics Institute, Piero Stewart, 6.Jun.2019) — Colombia’s National Hydrocarbon Agency (ANH) inaugurated a new solar powered water pumping system in Ovejas in Sucre with investments from ANH and Hocol S.A., the agency announced in a social media post on Twitter. © Energy Analytics Institute (EAI)
Echo Energy Plc Says Current 3D Campaign Nearly Completed In Argentina
(Energy Analytics Institute, Aaron Simonsky, 6.Jun.2019) — Echo Energy plc says activities at Tapi Aike in Argentina have moved to the west of the basin as infrastructure has been established to connect gas to urban markets, and added that its current 3D campaign in Argentina is nearing completion, the company […]
Argentina And Brazilian Officials Meet To Discuss Energy Exchanges
(Energy Analytics Institute, Ian Silverman, 6.Jun.2019) — Argentina’s Energy Secretariat Gustavo Lopetegui met 6 June with Brazil’s Minister of Mines and Energy Bento Albuquerque under the framework of President Jair Bolsonaro’s visit to Argentina. Two Memorandums of Understanding (MOUs) were signed during the meetings related to the exchange of energy […]
Ultrapar Announces Early Tender Results Of Offer For Its 5.250% Notes Due 2026
(Ultrapar, 6.Jun.2019) — Ultrapar International S.A. announced the early tender results of its offer to purchase for cash up to U.S.$200,000,000 aggregate principal amount. (Incorporated in the Grand Duchy of Luxembourg) Offer to Purchase for Cash Up to U.S.$200,000,000 Aggregate Principal Amount of its Outstanding 5.250% Notes due 2026 Ultrapar […]
Different Brazilian Justice OKs Privatizations Without Congressional Approval
(Reuters, 6.Jun.2019 ) — Brazilian Supreme Court Justice Carmen Lucia voted on Thursday to allow the divestment of state-run firms and subsidiaries without congressional approval, but added that all divestments, including of minority stakes, should be done through auction. Before Lucia’s vote, two Supreme Court justices had voted in favor […]
Engie Brazil CEO Expects Supreme Court To Ok $8.6 Billion Gas Pipeline Deal
(Reuters, 6.Jun.2019) — The chief executive officer of Engie SA in Brazil, Mauricio Bahr, said he expects the country’s highest court to approve the French company’s $8.6 billion acquisition of gas pipeline TAG from Brazil’s state-controlled Petroleo Brasileiro SA.. Bahr said he expects the Supreme Court to show “common sense” […]
Citgo’s Search For CEO Moves Forward, Includes Former PDVSA Executives
(Reuters, Marianna Parraga, 6.Jun.2019) — Citgo Petroleum Corp, the U.S. arm of Venezuela’s state-run oil firm PDVSA, is moving toward appointing a new chief executive, with candidate names including former executives from PDVSA and other companies soon to be submitted to the board. In February, former CEO Asdrubal Chavez and […]
A Double Whammy: Fitch Downgrades Mexico And Moody’s Lowers Outlook
(Reuters, 5.Jun.2019) — In a double blow for Mexico, credit ratings agency Fitch downgraded the nation’s sovereign debt rating on Wednesday, citing risks posed by heavily indebted oil company Pemex and trade tensions, while Moody’s lowered its outlook to negative. The Mexican peso weakened as much as 1.3% on the […]
Bolivia Expects Increase In Gas Exports To Argentina
(Energy Analytics Institute, Ian Silverman, 5.Jun.2019) — A new addendum to an existing contract between Bolivia and Argentina will lead to a price increase for exports of natural gas from the former to the latter by between 15% to 20% in winter, Bolivia’s Information Agency (ABI) reported 5 June, citing […]
LSC Expanding Rockfort Lubricants Facility
(Jamaica Gleaner, 5.Jun.2019) — Lubricating Specialties Company (LSC) is adding another 500,000 gallons in capacity at its facility in Rockfort, Kingston, for which it already has the green light from regulator National Environment and Planning Agency, NEPA. LSC operates the former Shell lubricants facility, a 1.2-million capacity plant at Rockfort, […]
Tempers Flare As Cash Starved Venezuela Starts To Ration Petrol At The Pumps
(AFP, 5.Jun.2019 ) — Maria Lopez complains about gasoline rationing that Venezuela — home to the world’s largest oil reserves — has started introducing in some areas to tackle extreme fuel shortages. “It’s a joke,” Lopez said. But for ordinary Venezuelans, it is a cruel joke without a punchline — […]
Venezuela Crude Oil Exports Sink In May
(Oilprice.com, Julianne Geiger, 5.Jun.2019) — Venezuela’s oil exports slumped in May as the sanctions levied by the United States staunched the flow of oil from the troubled Latin American country that is in the middle of a severe crisis, according to Refinitive Eikon data. Venezuela’s oil exports fell 17% in […]
US’ Refineries Need Mexican Crude Oil
(CNN, Matt Egan, 5.Jun.2019) — The Trump administration’s threatened tariffs on Mexico couldn’t come at a worse time for America’s oil refineries. Mexico is the No. 2 foreign source of oil to the United States, supplying an average of 658,000 barrels of crude a day in March to ExxonMobil, Valero […]
Ecopetrol Shuts Section Of Pipeline After Oil Found In Cobaria River
(Reuters, 4.Jun.2019) — Colombia’s state-run oil company Ecopetrol said late on Tuesday it closed the valves on a section of its Cano Limon pipeline in central Boyaca province after crude oil was detected in a local river. The 485-mile (780-km) pipeline was not pumping when the oil was detected, the […]
Seven Companies Bid For 11 Contracts In Colombia Oil Auction
(Reuters, 4.Jun.2019) — Seven companies have put in bids for 11 oil exploration contracts in Colombia, the government said on Tuesday, as the Andean country seeks to revitalize its oil sector. Frontera Energy, Geopark, Ecopetrol , Hocol, Parex Resources, Gran Tierra Energy and ONGC Videsh have put in a total […]
Odebrecht Informs Petrobras That Sales Talks With Lyondell Are Off
(Energy Analytics Institute, Aaron Simonsky, 4.Jun.2019) — Odebrecht S.A., the controlling shareholder of Braskem S.A., notified Petrobras that negotiations regarding the potential transaction involving the sale of Odebrecht’s entire stake in Braskem to the Dutch company Lyondell Basell were terminated, Petrobras announced in an official statement 4 June. *** © […]
Brazil Will Allow Mills Sell Ethanol Directly To Service Stations
(Reuters, Marcela Ayres and Marcelo Teixeira, 4.Jun.2019) — The Brazilian government on Tuesday paved the way for ethanol makers to sell the fuel directly to gas stations, by passing a resolution to boost fuel industry competition, although additional legislation is required to bypass fuel distributors. The resolution by CNPE, the […]
Santiago: Home To The 1st Club Worldwide To Operate 100% On Renewable Energy
(Lonely Planet, Kelly Magyarics, 4.Jun.2019) — This week, La Feria in Santiago, Chile’s Barrio Bellavista became the first nightclub in the world to sustainably cover 100% of the energy it uses. In a collaboration with Budweiser dubbed BUDXLAFERIA RENOVABLE, the project included carefully retrofitting the historical structure with 35 photovoltaic […]
Trinidad Energy Chamber To Host Energy Efficiency And Renewables Conference
(Energy Chamber, 4.Jun.2019) — The Energy Chamber of Trinidad and Tobago is hosting its Energy Efficiency and Renewables Conference on 10-11 June 2019 at the Ballroom, Hilton Trinidad and Conference Center. The conference was first hosted in 2017 and was called the Clean Energy Conference. This year we took a […]
GeoPark Completes Jauke 2 Gas Well In Chile
(GeoPark, 3.Jun.2019) — GeoPark Limited drilled and completed the Jauke 2 gas well in the Fell block (GeoPark operated, 100% WI) to a total depth of 9,701 feet to the Tobifera formation, which is deeper than the formation currently under production. A production test resulted in an average production rate […]
GeoPark signs final contract for Espejo, Perico blocks
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 3.Jun.2019, Words: 164) — GeoPark Limited signed final participation contracts on 22 May 2019 for the Espejo (GeoPark operated, 50% WI) and Perico (GeoPark non-operated, 50% WI) blocks in Ecuador, which were awarded to GeoPark in the Intracampos Bid Round held in […]
Quarter Of Colombian Gasoline Used To Make Cocaine
(InSight Crime, Lara Loaiza, 3.Jun.2019) — Rural gas stations in Colombia are allegedly selling vast quantities of fuel to criminal groups to be used in coca paste processing, with as much as 28% of the country’s gasoline potentially going to organized crime. The Attorney General’s Office announced it is investigating […]
Trinidad, BP, Shell To Restructure Atlantic LNG
(Argus, 3.Jun.2019) — Trinidad and Tobago agreed with BP and Shell to discuss restructuring Atlantic LNG to try to forestall the shutdown of Train 1, which represents 20pc of capacity. BP and Shell are the Caribbean country’s leading natural gas producers and top shareholders in the 14.8mn t/yr Atlantic liquefaction […]