(Energy Analytics Institute, Jared Yamin, 3.Jun.2019) â Echo Energy announced Fiona MacAulay is stepping down from the board as a non-executive director with immediate effect, after providing support to her successor through the planned transitional period, the company announced in an official statement. âI would like to thank Fiona for […]
Category: Latin America and the Caribbean
Cepsa Aims To Open 150 Service Stations In Mexico
(Energy Analytics Institute, Jared Yamin, 3.Jun.2019) â Cepsa, operating under the Red Energy brand in Mexico, plans to open more than 150 service stations over the next two years in the country. Cepsaâs first station will be located in Tlalnepantla de Baz in Mexico state, although the goal of the […]
GeoPark Testing Praia Dos Castelhanos 1 Exploration Well
(GeoPark, 3.Jun.2019) â GeoPark Limited drilled and completed the Praia dos Castelhanos 1 exploration well in the REC-T-128 block (GeoPark operated, 70% WI) to a total depth of 8,431 feet. A production test in the Agua Grande formation resulted in a production rate of approximately 300 barrels per day of […]
GeoPark Says Colombia Flowline On Stream
(GeoPark, 3.Jun.2019) â GeoPark Limited announced the flowline connecting the Llanos 34 block (GeoPark operated, 45% WI) to the Oleoducto de los Llanos (ODL), one of Colombiaâs principal pipelines, is now fully operational with oil flowing from the Jacana oil field to the ODL regional infrastructure. The flowline (with a […]
Mexico Initiates Construction Of The Dos Bocas Refinery
(Energy Analytics Institute, Jared Yamin, 2.Jun.2019) â Mexico initiated construction activities related to the Dos Bocas Refinery, the countryâs President AndrĂ©s Manuel LĂłpez Obrador President announced via a social media post on Twitter. *** © Energy Analytics Institute (EAI)
Mexico Moving Forward With Dos Bocas Refinery Construction In Tabasco
(Energy Analytics Institute, Jared Yamin, 2.Jun.2019) â Mexicoâs President AndrĂ©s Manuel LĂłpez Obrador reiterated his decision to build the new Dos Bocas Refinery and continue with the planned modernization of six existing refineries owned by state oil company PetrĂłleos Mexicanos, also known as Pemex. âThe refinery will assist Mexico achieve […]
YPF Prepares First Shipment Of Liquefied Natural Gas From Argentina
(Reuters, 2.Jun.2019) â Argentine oil company YPF SA said on Sunday that it began loading the first shipment of liquefied natural gas (LNG) for export from Argentina. The shipment includes 30,000 cubic metres of LNG from the Vaca Muerta shale play, YPF said in a statement. “This is the first […]
Mexico Is Our Most Important Natural Gas Export Market
(Forbes, Robert Rapier, 2.Jun.2019) â Last week the Trump Administration announced plans to impose a 5% tax on all goods imported from Mexico unless “the illegal migration crisis is alleviated.” These tariffs would potentially rise to 25% by October. Many business groups immediately came out against the idea. Neil Bradley, […]
JHI And Mid-Atlantic Verify Details Of Canje Block In Guyana
(JHI Associates, 1.Jun.2019) â JHI Associates, Inc. and Mid-Atlantic Oil & Gas, Inc. (MOGI) provided details concerning award of the Canje Block offshore Guyana in 2015. As a statement of record, the block was awarded on March 4, 2015, using the standard Guyana Model Production Agreement. The Liza-1 well on […]
LatAmNRG Q&A: Latina Women In Energy And Stem, Junellie GonzĂĄlez Quiles
(Energy Analytics Institute, Jared Yamin, 1.Jun.2019) â Junellie GonzĂĄlez Quiles was born and raised in Puerto Rico. She studied at the Colegio CongregaciĂłn Mitain Hato Rey, Puerto Rico before later studying at the University of Maryland, College Park. GonzĂĄlez currently works at NASA Goddard Space Flight Center doing research on […]
TPHL Announces Conditional Term Loan Commitments Of Up To $720 Million
(TPHL, 31.May.2019) â Trinidad Petroleum Holdings Limited (TPHL) announced that in connection with its ongoing negotiations with a syndicate of financial institutions to enter into a new senior secured term loan facility (the “Term Loan Facility”) under which TPHL is the borrower and The Guaracara Refining Company Limited, Heritage Petroleum […]
BP Says Advancing Its Business In Trinidad And Tobago
(bptt, 31.May.2019) â BPâs Upstream chief executive Bernard Looney yesterday emphasized the companyâs long-term commitment to Trinidad and Tobago during a meeting with the Honourable Prime Minister Dr Keith Rowley and other T&T Government representatives at BPâs head office in London. Looney said: âBP values our long-term partnership with Trinidad […]
Colombia Had 4th Greatest Loss Of Primary Rainforest Of Any Country In 2018
(Reuters, Anastasia Moloney, 31.May.2019) â Colombia is fighting a losing battle against the destruction of its rainforests in war-hit regions where the government remains weak, a Norwegian climate envoy said during a visit to the country. Norway, rich from offshore oil, is a key financial backer of Colombia’s efforts to […]
ANH Says 22 Companies Qualified To Bid On 20 Oil Areas In Colombia
(ANH Colombia, 30.May.2019) â After having been validated by the firm âGestiĂłn y AuditorĂa Especializada S.A.S., independent auditor, the National Hydrocarbons Agency of Colombia published the final list of investors that are enabled to compete for the 20 areas for exploration and production of hydrocarbons. These areas were released on […]
Frontera Energy Corporation BODs Declares Dividend
(Frontera, 30.May.2019) â Frontera Energy Corporationâs board of directors has declared a dividend of C$0.205 per common share, which will be paid on or about July 17, 2019 to shareholders of record at the close of business on July 3, 2019. The Company’s board of directors has also amended its […]
LatAmNRG Bolivia Briefs: Petrobras Volumes, Investments In Lithium
(Energy Analytics Institute, Ian Silverman, 30.May.2019) â Heard on the street and LatAmNRG briefs related to Brazilâs Petrobras requesting lower natural gas volumes from Boliviaâs YPFB, investments to industrialize Bolivian lithium expected to reach $600 million, and Boliviaâs state oil entity YPFB planning to open a new office in Peru […]
Guyana Says Oil Activity Offshore Is Unprecedented
(AP, 30.May.2019 ) â Guyana’s top energy official said Thursday that interest in oil drilling and development operations in the South American country is unprecedented. Department of Energy head Mark Bynoe told The Associated Press that the country has never seen such “interest in deep and ultra-deep concessions” and is […]
Colombia Oil Auction Attracts 22 Qualified Bidders
(Reuters, 30.May.2019) â At least twenty-two companies are qualified to bid for new exploration contracts for 20 oil blocks in Colombia, the government said on Thursday, as the Andean country pursues its effort to increase crude reserves. Interested companies can present bids from Tuesday, June 4 with results expected on […]
Petrobras Says It Has Been Contacted By U.S. CFTC
(Reuters, 30.May.2019) â Brazilian state-run oil firm Petrobras has received a request for information from the U.S. Commodity Futures Trading Commission regarding the firm’s trading activities, the company said in a filing on Thursday. “Petrobras … was contacted by the U.S. Commodity Futures Trading Commission (CFTC) with information requests regarding […]
Brazil Govt, Petrobras Lobby Ahead Of Key Privatization Court Ruling
(Reuters, Ricardo Brito, 30.May.2019) â Brazilian state-run oil company Petrobras and sectors of the government are mobilizing in the lead-up to a Supreme Court session next week that could have a profound effect on privatizations in the country. In recent days, lawyers for Petroleo Brasileiro SA , as well as […]
June 9 Provincial Election In Chubut, Argentina’s No. 2 Petro-Province
(Baker Institute, Mark P. Jones, 30.May.2019) â Chubut will elect its governor and the members of its provincial legislature for four-year terms on June 9. The pragmatic centrist Peronist governor (Mariano Arcioni) is heavily favored to win re-election, but there still exists an outside chance that a more left-wing Peronist […]
Guyana State Agency Reveals Details Of Oil Blocks Probe
(AP, Bert Wilkinson, 29.May.2019) â Guyana’s State Assets Recovery Agency said Wednesday it has launched an investigation into whether corruption played a role in the previous government’s 2015 decision to award two oil blocks to little-known companies days after ExxonMobil signaled it had found large deposits of oil and gas. […]
Scoot Awarded Permit To Operate Ebikes In Santiago, Chile
(Scoot, 28.May.2019) â Scoot, the original shared electric vehicle company, is launching their new shared ebike in the Las Condes district of Santiago, Chile. At a joint press event this weekend, Mayor Joaquin Lavin announced that Scoot had been awarded 650 permits to operate shared ebikes, making it the first […]
Tanker Sabotage: Venezuelaâs Crisis Worsens
(Oilprice.com, Tsvetana Paraskova, 28.May.2019) â Tankers carrying gasoline and ships transporting food for Venezuela were sabotaged last week to prevent them from reaching Venezuela, Nicolas Maduro said in a televised speech late on Monday. âLast week, sabotage was committed against ten tankers [with gasoline] to prevent them from reaching the […]
Energy Exports Help Laredo To Become Top U.S. Trade Hub
(Chron.com, Sergio Chapa, 28.May.2019) â Booming energy exports and shifting patterns in international commerce have made the Port of Laredo the nationâs top center for trade, supplanting the longtime leader, the Port of Los Angeles. In March, $20.1 billion of combined imports and exports moved through the Texas border city, […]
Mexico Charges Former Oil Official With Bribery In Anticorruption Drive
(New York Times, Kirk Semple and Azam Ahmed, 28.May.2019) â The administration of President AndrĂ©s Manuel LĂłpez Obrador of Mexico has launched its first major anticorruption prosecution, delivering on a central campaign promise by taking aim at corruption inside the ailing state-owned oil company. Bribery and tax fraud charges have […]
Petrobras Starts Teaser For 27 Onshore Fields In EspĂrito Santo
(Energy Analytics Institute, Aaron Simonsky, 27.May.2019) â Brazilâs state oil and gas entity Petrobras started the opportunity disclosure phase or Teaser, related to divestment of its total equity interest in 27 mature fields onshore Brazil. The interest include shared production outflow and treatment facilities located in EspĂrito Santo, in the […]
Kamla Slams Trinidad Prime Ministerâs 10-Day Energy Trip
(LoopTT, 27.May.2019) â Opposition Leader Kamla Persad-Bissessar on Monday slammed the Prime Ministerâs 10-day energy trip, accusing him of meddling in the energy affairs of Trinidad and Tobago. In a statement, she said the upcoming scheduled meetings with international energy companies are aimed at regaining favour as a result of […]
Braskem BODs OKs $101mn Corruption Settlement
(Reuters, 27.May.2019) â The board of Brazilian petrochemicals producer Braskem SA has approved an agreement with authorities to pay 410 million reais ($101 million) to settle its involvement in the ‘Car Wash’ corruption case, Braskem said on Monday in a filing. The sprawling corruption investigation known as Car Wash uncovered […]
Petrobras Sets June Deadline For Liquigas Non-Binding Offers: Source
(Reuters, Carolina Mandl, 27.May.2019) â Brazilian state-controlled oil company Petroleo Brasileiro SA has set a June 7 deadline to receive non-binding proposals for its liquefied petroleum gas (LPG) distribution unit Liquigas, one source with knowledge of the matter said. Petrobras, as the oil company is known, has been selling assets […]
LatAmNRG Colombia Briefs: Caño Limón-Coveña Pipeline, Ecopetrol Data Room
(Energy Analytics Institute, Piero Stewart, 27.May.2019) â Heard on the street and LatAmNRG briefs related to another oil spill along the Caño LimĂłn-Coveña pipeline and this time in La Gloria in the Department of Cesar, Colombia needing to advance existing and new gas exploration projects, and state oil and gas […]
Fitch Ratings Revises Ecopetrol Outlook To Negative From Stable
(Energy Analytics Institute, Piero Stewart, 27.May.2019) â Rating agency Fitch revised the outlook for Colombiaâs state oil company to Negative from Stable, stating the adjustment made to the Colombia’s Sovereign Rating Outlook. Fitch affirmed Ecopetrolâs credit rating at BBB, which is investment grade, the oil company said 27 May in […]
Argentinaâs Environmental Prosecutor Expects More Oil Samples From Añelo Plant
(Energy Analytics Institute, Aaron Simonsky, 27.May.2019) â Argentinaâs Environmental Crimes prosecutor Maximiliano Breide Obeid anticipates more samples will be taken from Treaterâs oil waste plant located in Añelo in Argentina. Treater recently released a statement that states results from the first samples taken by the prosecution showed normal values, reported […]
Petrobras Not Yet Summoned On Injunction Decision To Suspend TAG
(Energy Analytics Institute, Aaron Simonsky, 27.May.2019) â Petrobras, responded to recent news published in media, says it hasnât yet been summoned of the injunction issued by Supreme Court Judge Edson Fachin, determining suspension of the competitive process for divestment of 90% of the companyâs interest in Transportadora Associada de GĂĄs […]
Why Venezuela, The Country With The World’s Largest Oil Reserves Its Short Of Petrol
(CNN, Stefano Pozzebon, 26.May.2019) â For many Venezuelans, oil is a birthright in the country blessed with the largest crude reserves in the world. Despite wild hyperinflation, Venezuela’s government has never increased the price of gasoline. Today, amid a crushing economic crisis, filling up a tank in Venezuela is still […]
Trinidad And Tobago Doubles Down On Gas Production
(Oxford Business Group, 25.May.2019) â On April 19 the World Bank revised its forecast from earlier in the month, which had predicted that T&T would slip into a recession. In a press release, the international lender said the twin-island nation was expected to post real growth of 0.9 percent this year, […]
LatAmNRG Argentina Briefs: YPF Gas Exports, Shell Dumping, Phoenix Global
(Energy Analytics Institute, Piero Stewart, 24.May.2019) â Heard on the street and LatAmNRG briefs related to the state entity YPFâs plans to ship natural gas to Chile through May 2020, Shell cited for supposed toxic waste dumping, quick facts related to Pan American Energyâs Cerro Dragon Project, and departure of […]
LatAmNRG Bolivia Briefs: YPFB And Shell Deal For Yapucaiti X 1 Well
(Energy Analytics Institute, Ian Silverman, 24.May.2019) â Heard on the street and LatAmNRG briefs related to YPFB being the withholding agent for transport carriers in Chaco, and YPFB and Shell signing a deal for an estimated $220 million for the Yapucaiti X 1 exploration well. YPFB To Retain Funds From […]
LatAmNRG Q&A With ANH Colombia: Exploratory Drilling To Start In 2H:20
(Energy Analytics Institute, Piero Stewart, 24.May.2019) â As part of Energy Analytics Instituteâs ongoing coverage of the Latin America and Caribbean energy sectors from conventionals, unconventionals to renewables, Colombiaâs Hydrocarbons National Agency (ANH) weighs in on some of our Colombia-related questions. What follows are excerpts from our series: LatAmNRG Q&A […]
Trinidad Petroleum Holdings Limited Announces Extension Of Expiration Date
(TPHL, 24.May.2019) â Trinidad Petroleum Holdings Limited announced the expiration date has been extended until 5:00 p.m., New York City time, on June 14, 2019, unless extended or earlier terminated (such time and date with respect to the Exchange Offers, as the same may be extended, the “Extended Expiration Date”), […]
Staatsolie Inks PSC For Suriname’s Nickerie Block
(Staatsolie, 24.May.2019) â Staatsolie Maatschappij Suriname N.V. and Decker Petroleum Marketing Co. LTD, from Trinidad, signed the production sharing contract (PSC) for the Nickerie block on 24 May 2019. Decker will explore the Nickerie block for oil and gas. The duration of the contract is 37 years, including an exploration […]
Canacol Energy: 42% FFO Jump, Poised To Grow Further
(Seeking Alpha, Vasily Zyryanov, 24.May.2019) â Canacol Energy, Toronto-listed and Colombia-focused natural gas producer, has recently presented its Q1 results and impressed investors with robust revenue and a 42% funds from operations increase. Importantly, that surge in cash flow and sales is just the very beginning of a much more […]
Sociedad QuĂmica Y Minera De Chile S.A. Reiterates Business Strategy
(Energy Analytics Institute, Aaron Simonsky, 23.May.2019) â Sociedad QuĂmica y Minera de Chile S.A. (SQM) announced that is business strategy is to be a global company, with people committed to excellence, dedicated to the extraction of minerals and selectively integrated in the production and sale of products for the industries […]
Canadian Solar Finalizes Sale Of Aguascalientes Solar Project To BlackRock Fund
(Canadian Solar, 23.May.2019) â Canadian Solar Inc. completed the sale of its 68 MWp Aguascalientes solar project in Mexico to BlackRock Infrastructure Fund II. Canadian Solar developed, arranged construction and long-term project financing, built and energized the project in January 2019. Powered by 200,000 Canadian Solar high-efficiency poly modules CS6U-P, […]
Sociedad QuĂmica y Minera de Chile Reports 1Q:19 Earnings
(SQM, 23.May.2019) â Sociedad QuĂmica y Minera de Chile S.A. reported earnings today for the three months ended March 31, 2019 of US$80.5 million (US$0.31 per share), a decrease from US$113.8 million (US$0.43 per share) reported for the three months ended March 31, 2018. Gross profit reached US$145.5 million (29.9% […]
Shell Trinidad And Tobago Commits To STOW Charter With The Energy Chamber
(Energy Chamber, 23.May.2019) â On Thursday 9th May, 2019, Mr. Derek Hudson, Vice President and Country Chair of Shell Trinidad and Tobago Limited, signed the Safe to Work (STOW) Charter, demonstrating the Companyâs commitment to the objectives of STOW. Also present at the signing, which took place at the Energy […]
Venezuelan Petroleum Exports To Cuba Surge In Response To US Sanctions
(Platts, 23.May.2019) â Venezuela has increased oil supplies to ally Cuba in May four-fold as US sanctions severely limit exports to other countries, PDVSA documents show. According to the documents, seen by S&P Global Platts Thursday, state-owned PDVSA exported 1.416 million barrels of combined crude and products in May to […]
US Tells Foreign Cos To Stop Jet Fuel Trading With Venezuela
(Reuters, Julia Payne and Dmitry Zhdannikov, 23.May.2019) â The United States told some large foreign firms this week they should stop trading jet fuel with Venezuela or face sanctions, according to two industry sources, ratcheting up pressure intended at removing Venezuelan President Nicolas Maduro from power. U.S. State Department officials […]
Guyana Investigates Oil Block Leases Controlled By Exxon
(Oilprice.com, Tsvetana Paraskova, 23.May.2019) â The worldâs newest offshore hotspot, Guyana, is in the early stages of a probe into how oil exploration rights were awarded for oil blocks that are currently controlled by ExxonMobil and Tullow Oil, Clive Thomas, director of Guyanaâs State Assets Recovery Agency, told Bloomberg in […]
YPF Targets Increasing Production At La Amarga Chica And Loma Campana
(Energy Analytics Institute, Aaron Simonsky, 23.May.2019) â YPF plans to conduct two lateral drilling operations near 4,000 meters and carry out some 80 staged fractures in each operation. The first one has already begun to drill at the Schlumberger-operated Bandurria Sur and the other will be in Loma Campana, reported […]