(Canadian Solar, 23.May.2019) — 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, […]
Category: Latin America and the Caribbean
Sociedad Química y Minera de Chile Reports 1Q:19 Earnings
(SQM, 23.May.2019) — Sociedad Química 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) — 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 Company’s 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) — 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) — 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) — The world’s 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 Guyana’s 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) — 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 […]
YPF Says Bahía Blanca And Chile Are Potential Sites For LNG Plants
(Energy Analytics Institute, Aaron Simonsky, 23.May.2019) — The Argentine port of of Bahía Blanca is at present a principal location for consideration of construction of a LNG plant; however, the Chilean option hasn’t been ruled out due to the importance of gas markets in Asia, reported online media Río Negro, […]
Ecuador Names New Hydrocarbons Vice Minister
(Energy Analytics Institute, Piero Stewart, 23.May.2019) — Juan Carlos Bermeo Calderón has been appointed Ecuador’s new Vice Minister over the country’s Energy and Non-Renewable Natural Resources Ministry, the ministry announced 23 May in a statement. Bermeo replaces Patricio Larrea, who held the position from 25 May 2017. *** © Energy […]
Cano Limon, Bicentenario Pipeline Pumping Halted After Bombings
(Reuters, 22.May.2019) — Pumping on Colombia’s Bicentenario and Cano Limon oil pipelines has been halted following bomb attacks in recent days, sources from operators Bicentenario and state-run oil company Ecopetrol said on Wednesday. Military sources attributed the bombings, which both took place in eastern Arauca province near the border with […]
Chile To Inaugurate 108 MW S4 Solar Photovoltaic Park In Coming Months
(Energy Analytics Institute, Aaron Simonsky, 22.May.2019) — Chile will inaugurate the 108-megawatt S4 Solar Chile photovoltaic park (former Huatacondo) in coming months, Chile’s Energy Minister Susana Jiménez Schuster announced 22 May in a social media post. The investment in the park will reach $150 million when completed, Jiménez said via […]
Petrobras Names Nivio Ziviani To Board Of Directors
(Petrobras, 21.May.2019) — Petrobras announced its Board of Directors, at a meeting held yesterday, approved the nomination by the controlling shareholder of Mr. Nivio Ziviani to the position of member of the Company’s Board of Directors. This nomination will be submitted tothe deliberation of the next General Shareholders’ Meeting that […]
Colombia’s Ecopetrol Says Exports To U.S. Up On Venezuela, Higher Output
(Reuters, 22.May.2019) — Colombia’s state-run oil company Ecopetrol said on Wednesday its crude exports to the United States rose nearly 25% in the first quarter because of lower supply from neighboring Venezuela and higher production. The 4-week average for crude imports from Colombia have surged to near the highest levels […]
Ultrapar To Acquire Up To $200,000,000 Of Outstanding 5.250% Notes Due 2026
(Ultrapar, 22.May.2019) — Ultrapar International S.A., a public limited liability company (société anonyme) organized and established under the laws of the Grand Duchy of Luxembourg with registered office at 6, rue Eugène Ruppert, L-2453, Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Commerce and Companies (Registre […]
Energy Chamber To Host Energy Efficiency and Renewables Tradeshow
(Energy Chamber, 21.May.2019) — Two years ago, the Energy Chamber of Trinidad and Tobago hosted its first Clean Energy Conference, an off-shoot from its Trinidad and Tobago Energy Conference which had for many years included a Green Energy Day. Given the direction in which the world is moving toward a […]
Petrobras Updates On Change Of ADR Programs Custodian
(Petrobras, 21.May.2019) — Petrobras says the Brazilian Securities and Exchange Commission (CVM) has approved the change of the custodian bank of its ADR programs for common and preferred shares, which will be the responsibility of Banco Bradesco S.A. The remaining characteristics of the ADR programs will remain unchanged: •Depositary Bank: […]
Repsol Winds Down Operations In Venezuela
(VOA, Martin Arostegui, 21.May.2019) — Spain’s Repsol, the last western oil giant with major operations in Venezuela, is leaving the embattled country, as pressure mounts from U.S. sanctions and continuing unrest. Repsol’s investments in Venezuela, valued at nearly $1.7 billion (1,480 billion euros) in 2017, have fallen 70% over the […]
Argentina’s Financial Crisis Creates An Opportunity For China
(Bloomberg, Jonathan Gilbert 21.May.2019) — A pair of dams going up in Patagonia is a testament to Beijing’s growing influence. Set on a remote steppe in Patagonia, where the winds howl and guanacos bound through the brush, the twin dams on the Santa Cruz River are in the early stages […]
Petrobras Approves Amendment To Transfer Of Rights Agreement
(Petrobras, 21.May.2019) — Petrobras says its Board of Directors approved the execution of the Amendment to the Transfer of Rights Agreement pursuant to the National Council of Energy Policy, Resolution No. 5, of April 9, 2019. The amendment provides for the reimbursement of US$ 9.058 billion (nine billion and fifty […]
LatAmNRG Ecuador Briefs: PetroAmazonas Deals, Drilling, Output, And Merger
(Energy Analytics Institute, Piero Stewart, 20.May.2019) — Heard on the street and LatAmNRG briefs related to the Petroamazonas EP and contracts for $78.1 million with China’s CNPC And Sinopec, optimized drilling at Sacha and Coca Payamino, rising output during the first four months of 2019, secondary recovery efforts and the […]
Echo Energy Announces Portfolio Changes, CEO Appointment
(Echo Energy, 20.May.2019) — Echo Energy plc provided an update on the Tapi Aike seismic acquisition programme and to announce a restructuring of the company’s onshore Argentinian portfolio, pursuant to which the Company will consolidate its focus on the Tapi Aike licence and its multi Tcf exploration potential. Highlights: — […]
Argentina Readies To Join LNG Exporters Club With Maiden Cargo
(Reuters, 20.May.2019) — Argentina is about to export its first liquefied natural gas (LNG) cargo from a new floating facility, marking a milestone for its energy sector boosted by rising gas production from its large Vaca Muerta shale region. State energy firm YPF is believed to be offering a partial […]
Italy’s Eni Awarded High Potential Exploration Block Offshore Argentina
(Eni, 20.May.2019) — The award of block MLO 124 is the outcome of the consortium’s successful bid in the International Bid Round “Ronda Costa Afuera n. 1” held on 16 April 2019. The Argentinian authorities officially awarded the exploration license of offshore block MLO 124 to an Eni-led consortium. The […]
Stratas Advisors Launches Mexico Crude Oil Outlook
(Stratas, 20.May.2019) — Extending coverage to the annual analysis of crude oil fundamentals, Stratas Advisors‘ North American research team now offers the Mexico Crude Oil Outlook, a 10-year annual report that is part of its North American Oil online subscription service. The North American Oil service integrates annual proprietary fundamental analysis with […]
Buenavista Renewables, ESCO, And Zodiac Aerospace Ink Long-Term PPA
(Buenavista, 20.May.2019) — Buenavista Renewables México, S. de R.L. de C.V. (“BVR”), a Buenavista Renewables company, and ESCO Comercializadora Energética S. de R.L. de C.V., a qualified supplier from Mexicali, Baja California, announce they have entered into a tripartite long-term Power Purchase Agreement with Zodiac Aerospace Equipo de México S. […]
OPEC Founder Venezuela Pumps Less Oil Than Three Of Its Neighbors
(Bloomberg, Lucia Kassai, 20.May.2019) —Venezuela, which sits atop more oil than Saudi Arabia, has fallen behind three other Latin American countries as years of mismanagement and lack of investments take its toll. The OPEC founding member produced 740,000 barrels a day in March, while Colombia’s oil reserves are less than […]
Russian Oil Sales To U.S. ‘On Steroids’ Amid Venezuela Sanctions
(Bloomberg, Sheela Tobben, 20.May.2019) — Petroleum exports from Russia to the U.S. are growing rapidly as the supplier takes advantage of lost deliveries from sanctions-hit Venezuela and supply cuts by OPEC members. In the first half of May, 13 ships from Russia delivered almost 5 million barrels of crude and […]
Venezuela’s Opposition Hires Debt Adviser
(Argus, 20.May.2019) — Venezuela’s political opposition contracted with an international adviser to prepare for restructuring the country’s external debt that is expected to exceed $150bn. Lee Buchheit, a specialist in sovereign debt restructuring, will assist the self-proclaimed interim government of Juan Guaido, the head of Venezuela´s opposition-controlled National Assembly who […]
US Sanctions Mining Company Backing Maduro
(Reuters, 19.May.2019) — The United States imposed sanctions on Tuesday against Venezuela’s state-run gold mining company Minerven and its president, Adrian Perdomo, accusing them of illicit operations and propping up the government of President Nicolas Maduro. The announcement comes days after Uganda said it was investigating its biggest gold refinery […]
Petroamazonas’ Production Peaked At 428,780 Boe/d In The First 4 Months Of 2019
(Energy Analytics Institute, Piero Stewart, 19.May.2019) — Petroamazonas EP’s production of crude oil in the first four months of 2019 peaked at 428,780 barrels per day of equivalents, up 5.42% compared to average production of 406,738 barrels per day of equivalents at the close of 2018, the company announced 19 […]
Enel: Positive Impact From Resolution Of Pending Issues In Argentina
(Enel, 17.May.2019) — Enel S.p.A. announces that its listed Chilean subsidiary Enel Américas S.A. (“Enel Américas”) informed that its subsidiary in Argentina, Empresa Distribuidora Sur S.A. (“Edesur”), signed with Argentina’s national government two agreements that enable the resolution of certain pending regulatory issues, and called an Extraordinary Shareholders’ Meeting for […]
Without Venezuela’s Oil, Haiti Struggles To Keep Lights On
(AP, Ralph Thomassaint Joseph, 17.May.2019) — When her daughter was 4 years old, Jennifer Jean started a small catering business in Bourdon, a lower middle-class district of the Haitian capital. Starting with the occasional wedding or corporate meeting, she grew the business into a venture that earned her as much […]
Petrobras’ Says Motion To Vacate Arbitration Award Issued In Vantage Case
(Petrobras, 17.May.2019) — Petrobras, following up onthe Press Release of March 8, 2019, hereby informs that today the United States District Court for the Southern District of Texas denied Petrobras’s motion to vacate and recognized the arbitral award rendered in the arbitration filed by Vantage Deepwater Company and Vantage Deepwater […]
Tullow Oil, Partners Exempted From Range Of Taxes In Guyana
(Stabroek News, 17.May.2019) — The National Assembly on Wednesday assented to tax concessions for the United Kingdom-headquartered Tullow Oil as well as its partners. “I humbly do my duty in seeking that this order be affirmed,” Finance Minister Winston Jordan, in whose name the order was laid, told the House […]
Ecopetrol Earnings And Revenues Increase Y/Y In Q1
(Zacks, Nilanjan Banerjee, 17.May.2019) — Ecopetrol SA (EC) reported first-quarter 2019 net income of 2,745 billion Colombian pesos, higher than 2,615 billion Colombian pesos in the March quarter of 2018. Moreover, revenues of 15,943 billion Colombian pesos were higher than 14,643 billion Colombian pesos reported in the March quarter of […]
Petrobras Removes Three Banks From BR Distribuidora Privatization
(Reuters, Gram Slattery and Carolina Mandl, 17.May.2019) — Brazilian state-run oil firm Petroleo Brasileiro SA has removed three banks from the privatization process of fuel distribution unit Petrobras Distribuidora, four sources with knowledge of the matter told Reuters this week. BR Distribuidora, as the unit is known, is among the […]
Wintershall DEA Boosts Interest In Block 5 Offshore Mexico
(Wintershall DEA, 17.May.2019) — Wintershall Dea and its partners in Block 5, Murphy Sur (operator), a wholly owned subsidiary of Murphy Oil Corporation, and PC Carigali Mexico Operations, S.A. de C.V. (PCCMO), a subsidiary of PETRONAS, have signed a Sales and Purchase Agreement with Ophir Energy, to acquire Ophir’s 23.33% […]
Argentina Awards 18 Exploration Areas Offshore For $724 Million
(Energy Analytics Institute, Aaron Simonsky, 17.May.2019) — Argentina’s Energy Secretariat awarded 18 areas corresponding to the first International Offshore Public Competition, the country’s Finance Ministry announced May 17 in an official statement. The crude oil and natural gas exploration areas offered cover three basins of the Argentine continental shelf. Companies […]
Wigton Windfarm Shares To Be Listed Soon On Jamaica Stock Exchange (JSE)
(Jamaica Observer, Balford Henry, 17.May.2019) — The Petroleum Corporation of Jamaica (PCJ) says that the Wigton Windfarm IPO shares will be listed and begin trading on the main market of the Jamaica Stock Exchange (JSE) on Wednesday, May 22. In an update on the developments since the massive Wigton Windfarm […]
US Targets Shippers For Bringing Venezuela Oil To Cuba
(AFP, 17.May.2019) — The United States last Friday imposed sanctions on two shipping companies for delivering Venezuelan oil to ally Cuba in what it called a response to actions against opposition lawmakers in Caracas. The Treasury Department said it was taking aim at the Monsoon Navigation Corp, headquartered in the […]
Gas Station Lines Reappear In Venezuela As Refinery Halts, Fuel Imports Plunge
(Reuters, Mircely Guanipa and Marianna Parraga, 16.May.2019) — Gas station lines reappeared across oil-rich but crisis-stricken Venezuela this week as gasoline imports plunged and the country’s second-largest oil refinery halted operations. Shortages of motor fuel have become a periodic occurrence across OPEC member Venezuela, particularly in border regions where smuggling […]
Sell Oil, Buy Electric
(Trinidad and Tobago Newsday, Ryan Hamilton-Davis, 16.May.2019) — The Regulated Industries Commission (RIC), the regulatory body for water, waste water and electricity, has come up with an initiative that could preserve the environment, lessen the economic burden, and fulfil government’s obligations internationally – not to mention save the average Joe […]
MAN Energy To Supply Compressor Trains For FPSO In Mexico
(MAN Energy, 16.May.2019) — MODEC has commissioned MAN Energy Solutions to supply a total of six compressor trains for a new FPSO vessel in the Gulf of Mexico. “We are honored that MODEC has demonstrated its confidence in our compressor technology systems. Once again, our company is delivering efficient high-end […]
Who Gets Venezuela’s Oil?
(CNN, Allan Dodds Frank, 16.May.2019) — Venezuela’s future is in limbo, as its embattled president continues to fend off a national movement for regime change. And whether President Nicolas Maduro consolidates his power, or opposition leader Juan Guaido takes control of the government, one longterm question hangs over the country’s […]
Venezuela’s Ad-Hoc PDVSA Board Begins Payment On Citgo-Backed 2020 Bond
(Reuters, Corina Pons and Mayela Armas, 16.May.2019) — Venezuela’s ad-hoc board of directors for state oil company PDVSA, appointed by opposition leader Juan Guaido, said on Thursday it has made an interest payment on its bond maturing in 2020, delaying uncertainty over its crown jewel U.S. asset. The PDVSA bond […]
Work Continues On The 10 MW Patagónicos Wind Farm In The Magallanes Region
(Energy Analytics Institute, Aaron Simonsky, 15.May.2019) — Construction of the new Patagónicos Wind Farm in the Magallanes Region, a joint venture between Enap and Pecket Energy, continues to advance with completion of concreting of the bases for the three wind turbines, ENAP said 15 May in a social media post […]
Rising U.S. Oil Output Helps Fill Gap Left By Iran, Venezuela: IEA
(Reuters, Noah Browning, 15.May.2019) — The world will require very little extra oil from OPEC this year as booming U.S. output will offset falling exports from Iran and Venezuela, the International Energy Agency said on Wednesday. The IEA, which coordinates the energy policies of industrial nations, said Washington’s decision to […]
LatAm’s Gasoline Problems: Mexico And Brazil Diverge In Fuel Balance Strategy
(WoodMac, 15.May.2019) — The two dominant players in Latin American oil and gas – Petrobras and Pemex – should face negative net gasoline balance for decades to come. This makes the two NOCs the most important Latin American importers of US gasoline, granted that Brazil’s deficit is mitigated by its […]
JinkoSolar Prices Follow-on Offering Of 4,062,500 ADSs And Private Placement
(JinkoSolar, 15.May.2019) — JinkoSolar Holding Co., Ltd. announced priced the follow-on offering of 4,062,500 American depositary shares (the “ADSs”), each representing four ordinary shares of the Company, par value US$0.00002 per share (the “ADS Offering”), at US$16.00 per ADS. The Company also announced it priced the concurrent private placement (the […]
LatAmNRG Briefs: OPEC MOMR, EP PetroEcuador Import Awards
(Energy Analytics Institute, Piero Stewart, 14.May.2019) — Heard on the street and LatAmNRG briefs related to OPEC’s Monthly Oil Market Report, EP PetroEcuador awards Trafigura deal to import 2,750,000 barrels of premium diesel, and EP PetroEcuador’s plans to open envelopes related to an award to import 2,250,000 barrels of diesel […]