(NACLA, Zophia Edwards and Timothy M. Gill, 14.May.2019) — Trinidad and Tobago used to be as dependent on oil as Venezuela. So why hasn’t its economy suffered similar levels of crisis since oil prices began to decline? Away from the economic and political calamity in Venezuela, just seven miles off […]
Category: Latin America and the Caribbean
Sempra Energy Starts Production At Train 1 Of Cameron LNG Facility
(Sempra, 14.May.2019) — Sempra Energy announced that Cameron LNG has begun producing liquefied natural gas (LNG) from the first liquefaction train of the Cameron LNG export project in Hackberry, La. “Reaching this important milestone of first LNG production is truly a credit to the team at Cameron LNG and the […]
Mexico’s Rising Oil Nationalism Faces Debt-Rating Crisis
(Reuters, Stefanie Eschenbacher and David Alire Garcia, 14.May.2019) — Mexican President Andres Manuel Lopez Obrador took office in December vowing to revive state-owned energy company Pemex and put the brakes on foreign investment to give the public a bigger cut of the country’s oil wealth. The leftist oil nationalist’s ambitions […]
Venezuelan Oil Output Sinks To 500,000 B/D
(Argus, 14.May.2019) — Venezuela’s crude production has dropped to around 500,000 b/d as sluggish export loadings and replete storage force state-owned PdV to shut in wells, four company officials tell Argus. The decline is most pronounced in the Orinoco heavy oil belt, where production has dwindled to less than 200,000 […]
Pompeo, Putin Could Decide Venezuela’s Fate
(Oilprice.com, Tsvetana Paraskova, 14.May.2019) — U.S. Secretary of State Mike Pompeo and Russian President Vladimir Putin are meeting on Tuesday to discuss various issues, including the fate of Venezuela and Nicolas Maduro—a hot topic for the oil market as geopolitical tensions have mounted in recent weeks. Secretary Pompeo will be […]
Ensign Energy Expands Into Mexico, Bahrain And Kuwait With Trinidad Acquisition
(Energy Analytics Institute, Jared Yamin, 13.May.2019) — Ensign Energy Services acquired an 89.3% interest in Trinidad Drilling Ltd., which marks the largest such purchase in the company’s history, and adds 68 drilling rigs in Canada, 66 in the United States and one internationally. The Trinidad acquisition during the fourth quarter […]
Madalena Starts Vaca Muerta Drilling On The Coiron Amargo Sur Este Block
(Madalena, 13.May.2019 ) — Madalena Energy Inc. has been informed by the operator of the Coiron Amargo Sur Este (CASE) block that a drilling rig was mobilized and commenced drilling of the CASE-101h well during the first week of May. Madalena holds a 35% non-operated interest in the CASE block […]
Readout Of Secretary Perry’s Visit To Bogota, Colombia
(Energy.gov, 13.May.2019) — Today, U.S. Secretary of Energy Rick Perry was in Bogotá, Colombia for the Concordia Americas Summit, a gathering of government and private sector leaders held to discuss a range of issues impacting Colombia and the broader Latin American region. Secretary Perry addressed the Summit about the desire […]
Petrobras Announces Teaser For Sale Of Breitener Energética S.A.
(Petrobras, 13.May.2019) — Petrobras reports that it has started the opportunity disclosure stage (Teaser) relating to the sale of its 93.7% interest in Breitener EnergĂ©tica S.A. Breitener EnergĂ©tica has two Thermoelectric Units (UTE), UTE Breitener Tambaqui S.A. and UTE Breitener Jaraqui S.A., located in Manaus, totaling 315 MW of installed […]
Colombia Oil Reserves Up 9.9% In 2018; Gas Reserves Decline
(Reuters, 13.May.2019) — Colombia’s crude oil reserves were up 9.9% to 1.96 billion barrels at the end of last year, as efforts to increase exploration, production and reserves paid dividends for the Andean country. At 2018 production levels the reserves are equivalent to 6.2 years of output, the Energy Ministry […]
Tecpetrol Argentina Work Halted Until Security Issues Resolved
(Energy Analytics Institute, Aaron Simonsky, 13.May.2019) — The block where Tecpetrol conducts activities in Argentina can’t initiate operations until necessary security measures are completed and approved by Argentina’s Labor Sub-Secretary, online media RĂo Negro reported 13 May 2019, citing oil and gas union official Guillermo Pereyra. They are halting all […]
Mexican Union Leader Shot Dead In Troubled Oil Refining City
(Reuters, 12.May.2019) — Unidentified gunmen shot dead a trade union leader in Mexico’s central city of Salamanca, authorities said on Sunday, the latest outbreak of violence in an area plagued by a murderous struggle between gangs over fuel theft. Gilberto Munoz, a former federal lawmaker and the leader of the […]
Could Emerging Oil State Guyana Become The Richest Nation In The World?
(Oilprice.com, Irina Slav, 12.May.2019) — A tiny South American country until recently known mostly as the location of one of the worst mass suicides in modern history is about to acquire a whole new reputation, and this reputation has to do with its oil wealth. Guyana, sandwiched between Venezuela and […]
Argentina Eyes Possible Start Of Vaca Muerta-BahĂa Blanca Train Project In 2020
(Energy Analytics Institute, Aaron Simonsky, 12.May.2019) — Two train projects planned to connect Vaca Muerta with BahĂa Blanca will most likely not start moving forward until 2020 due to a lack of public funds and disinterest from the private sector. The proposed project would have capacity to transport 3.3 million […]
YPF Transcript Of 1Q:19 Earnings Conference Call
(Thomson StreetEvents, 11.May.2019) — Edited Transcript of YPF SA earnings conference call or presentation Friday 10 May 2019. TEXT version of Transcript ============================== Corporate Participants ============================== * Diego Celaá YPF Sociedad AnĂłnima – Market Relations Officer * Ignacio Rostagno * Sergio Fabián Giorgi YPF Sociedad AnĂłnima – First Deputy Market […]
Petrobras Updates On Divestment Of Liquigás: Start Of Non-Binding Phase
(Petrobras, 10.May.2019) — Petrobras, following up on the release dated 04/09/2019, announces the beginning of the non-binding phase related to the sale of Liquigás Distribuidora S.A. At this stage of the project, the interested parties who have signed the Confidentiality Agreement will receive a detailed memorandum containing more information about […]
Petrobras Updates On Studies Related To Sale Of Shares By Caixa
(Petrobras, 10.May.2019) — Petrobras informs that it received the Official Letter No. 288/2019-SLS, which requests the following clarification:Official Letter nÂş 288/2019-SLS “Dear Gentlemen, In a news report issued by AgĂŞncia Estado – Broadcast, on 05-09-2019, under the heading “Petrobras informs SEC that Caixa can sell up to 241.3 million shares […]
US Secretary Perry Attends 2019 Concordia Americas Summit
(US DOE, 10.May.2019) — On Monday, May 13, 2019, U.S. Secretary of Energy Rick Perry will travel to Bogotá, Colombia to participate in the 2019 Concordia Americas Summit. He is also scheduled to participate in bilateral meetings on the sidelines of the summit. The Americas Summit is Concordia’s flagship regional […]
SBM Offshore Awarded Contracts For ExxonMobil FPSO Liza Unity
(SBM, 10.May.2019) — SBM Offshore announced that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Liza project in Guyana. Under these contracts, SBM Offshore will construct, install and thereafter lease and operate for […]
Earnings Call Transcript For Petrobras’ 1Q:19 Results
(Motley Fool, 10.May.2019) — Brazil’s Petrobras reported first quarter 2019 earnings call transcript can be found below. Earnings Call Transcript For Petrobras’ 1Q:19 Results Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning, ladies and gentlemen. Welcome to Petrobras’ webcast conference call with analysts and investors […]
Pampa EnergĂa Announces 1Q:19 Financial Results
(Energy Analytics Institute, Aaron Simonsky, 10.Apr.2019) — Pampa EnergĂa S.A. reported financial results for the first quarter ended 31 March 2019. Pampa EnergĂa S.A. is the largest independent energy integrated company in Argentina and maintains active in the country’s electricity and gas value chain. The financial information presented in the […]
Argentina’s Pampa EnergĂa 1Q:19 Conference Call Details
(Energy Analytics Institute, Aaron Simonsky, 10.Apr.2019) — Argentina’s Pampa EnergĂa S.A. announced it will host a conference call to discuss its 1Q:19 results on Tuesday 14 May 2019 at 10:00 a.m. Eastern Standard Time / 11:00 a.m. Buenos Aires Time. Pampa EnergĂa Investor Relations Manager Lida Wang will host the […]
LatAmNRG Briefs: Pemex Dos Bocas, Bolivia Charges Persons In Drillmex Case
(Energy Analytics Institute, Jared Yamin and Ian Silverman, 9.May.2019) — Heard on the street and LatAmNRG briefs related to the Sener and Pemex moving forward with the Dos Bocas Refinery project in Tabasco, and Bolivia’s Public Ministry charging 21 persons involved in irregularities related to the contracting processes with Drillmex. […]
Argentina’s Energy Secretariat Says La Amarga Chica Producing 13,000 B/D
(Energy Analytics Institute, Aaron Simonsky, 9.May.2019) — Production of shale oil in La Amarga Chica area under the watch of YPF and partner Petronas reached 13,000 barrels per day on 2 May 2019, up from 6,296 barrels per day in April 2018, online media RĂo Negro reported 9 May 2019, […]
Pemex To Build $8bn Oil Refinery As Mexico Scraps Tender Process
(Ft.com, Jude Webber, 9.May.2019) — AndrĂ©s Manuel LĂłpez Obrador, Mexico’s president, has stepped up his commitment to an $8bn refinery project, rejecting three private sector bids as too costly and vowing that state oil company Pemex will build the plant. The leftist nationalist president batted aside concerns about the ability […]
Ancap says maintaining naphtha prices “difficult”
(Energy Analytics Institute, Aaron Simonsky, 9.May.2019) — The rising price of crude oil and the dollar are making it difficult for Ancap to maintain naphtha prices, online media El Pais reported 9 May 2019, citing unnamed sources from within the state entity. It will be difficult to avoid increasing fuel […]
Petrobras Throws Out Printers As CEO Focuses On Cost Cutting
(Bloomberg, Sabrina Valle and Peter Millard, 9.May.2019) — Soon after taking over as chief executive officer of Brazil’s state-controlled oil giant Petrobras, Roberto Castello Branco noticed that there was a printer for each employee in a department, and ordered a review. It was just the beginning of a crusade against […]
Braskem Says Consolidated Recurring EBITDA Reached $336 Million In 1Q:19
(Braskem, 8.May.2019) — Braskem S.A. announces today its results for 1Q19. HIGHLIGHTS: Braskem – Consolidated: — Braskem’s recurring EBITDA was US$ 336 million, down 16% and 60% from 4Q18 and 1Q18, respectively, influenced by lower petrochemical spreads in the international market. Including non-recurring impacts, EBITDA was US$ 729 million, reflecting […]
Petrobras Exec Flags Production Boost During Second Quarter
(Reuters, 8.May.2019) — Oil and gas production at Petroleo Brasileiro SA is on the rise in the second quarter, and has been above 2.8 million barrels of oil equivalent per day (boepd) so far in May, a company executive said on Wednesday. In a call with analysts following the release […]
SOL Petroleum To Shutter Businesses In Jamaica
(Jamaica Observer, Karena Bennett, 8.May.2019) — SOL Petroleum Jamaica Limited will shutter its lubricant and bunkering business across the island, effective June 30. The announcement comes six years after Simpson Oil Limited (SOL) launched its business in Jamaica following the acquisition of Shell’s marketing and service station operations by French […]
CSI Compressco Announces 1Q:19 Results, Affirms Full Year Financial Guidance
(CSI, 8.May.2019) — CSI Compressco LP today announced first quarter 2019 consolidated financial results and provided updated 2019 full year guidance. Consolidated revenues for the quarter ended March 31, 2019 were $103 million compared to $138 million for the fourth quarter of 2018 and $85 million for the first quarter […]
Argentina And Uruguay To Invest $1,000 Million To Modernize Salto Grande Dam
(Energy Analytics Institute, Aaron Simonsky, 8.May.2019) — The governments of Argentina and Uruguay announced plans to invest $1,000 million in the modernization of the Salto Grande Dam situated over the Uruguay River. The full scope of the project includes renovation of electro-magnetic equipment and infrastructure over a 30 year period, […]
Talos Energy Conference Call And Webcast Information
(Talos, 8.May.2019) — Talos Energy Inc. will host a conference call, which will also be broadcast live over the internet, on Thursday, May 9, 2019 at 10:00 am Eastern Time (9:00 am Central Time). Listeners can access the conference call live over the internet through a webcast link on the […]
Talos Energy Reports 1Q:19 Financial, Ops Results On Mexico And US
(Talos, 8.May.2019) — Talos Energy Inc. today announced its financial and operational results for the first quarter of 2019 and an operations update. Key highlights include: — Production of 42.0 thousand barrels of oil equivalent per day (“MBoe/d”), or 3.8 million barrels of oil equivalent (“MMBoe”) in total, 70% of […]
LatAmNRG Argentina Briefs: Gutiérrez Shell Chat, Tecpetrol Accident
(Energy Analytics Institute, Aaron Simonsky, 8.May.2019) — Heard on the street and LatAmNRG briefs related to eight oil and gas sector deaths in the Neuquina Basin in 15 months, NeuquĂ©n Governor GutiĂ©rrez to meet with Royal Dutch Shell’s Ben Van Beurden, and Tecpetrol Argentina still investigating fatal FortĂn de Piedra […]
YPFB And YPF Argentina Ink Upstream And Downstream Deals
(Energy Analytics Institute, Aaron Simonsky and Pietro D. Pitts, 7.May.2019) — YPFB and YPF Argentina signed strategic deals during discussions in Santa Cruz related to upstream and downstream activities in Bolivia and Argentina, Bolivia’s Hydrocarbon Ministry announced 7 May 2019 in an official statement on its website. In the upstream […]
Bolivia Launches New 87 Octane Gasoline In Cochabamba
(Energy Analytics Institute, Ian Silverman, 7.May.2019) — Bolivia sold a total 180,000 liters of its new gasoline — which has as a special anhydrous additive alcohol — through 35 petrol stations located in the department of Cochabamba, Bolivia’s Information Agency (ABI by its Spanish acronym) reported on 7 May 2019. […]
YPF Luz Offers $75mn In Negotiable Obligations
(Energy Analytics Institute, Aaron Simonsky, 7.May.2019) — YPF EnergĂa ElĂ©ctrica, also known as YPF Luz, offered $75 million in negotiable obligations on the Argentina stock exchange at an interest rate of 10.24%. Funds from the offering will be destined to finance projects related to thermal and renewable energies, reports online […]
Ecopetrol’s1Q:19 Earnings Call Transcript
(MotleyFool, 7.May.2019) — Attached is the first quarter 2019 earnings call transcript for Colombia’s state oil company Ecopetrol. Contents Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning. My name is Hilda and I will be your conference operator today. At this time, I would like to […]
Petrobras Approves Shareholder Remuneration Payment
(Petrobras, 7.May.2019) — Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total amount of R$ 1,304,420,126.10, corresponding to R$ 0.10 per outstanding common and preferred share. The payment will be made on […]
Sempra Energy Reports Higher 1Q:19 Earnings
(Sempra, 7.May.2019) — Sempra Energy today reported first-quarter 2019 earnings of $441 million, or $1.59 per diluted share, up from first-quarter 2018 earnings of $347 million, or $1.33 per diluted share. On an adjusted basis, the company’s first-quarter 2019 earnings increased to $534 million, or $1.92 per diluted share, from […]
JinkoSolar Supplies PV Modules To Solar Power Plant In Colombia
(JinkoSolar, 7.May.2019) — JinkoSolar Holding Co., Ltd., today announced JinkoSolar has supplied 250,000 Pieces of 345Watt – 1500V monocrystalline standard modules for one of the largest solar power plant in Colombia to date which was recently inaugurated and is located in Cesar Department. “We are proud to have been chosen […]
Brazil’s Petrobras Launches New Investor Relations Website
(Petrobras, 7.May.2019) — Petrobras informsthat it launched a new InvestorRelations website, featuring an easier and more intuitive navigation and a modern layout, aligned with the best market practices on disclosure of information and results. In addition to rearranging content and including new tools, we sought to facilitate the collection of […]
What Does IMO 2020 Mean For Downstream, Upstream, LNG and Bulks Sector
(Woodmac, 7.May.2019) — Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie’s Asia Pacific experts weigh in on what this means for the different sectors. Expect wider light-heavy and sweet-sour crude price differentials Research director Sushant Gupta […]
YPF Eyes Increasing Interest In Mega To 72% With Petrobras Acquisition
(Energy Analytics Institute, Aaron Simonsky, 6.May.2019) — YPF announced it’s desire in acquiring Petrobras’ 34% interest in gas separator Mega, after the Brazilian company announced plans to divest its holding. In a conference with investors, YPF said it was interested in acquiring Petrobras’ participation, and that evaluations have already begun […]
Colombia’s Ecopetrol Reports Strong 1Q:19 Results, EBITDA Margin Of 46.1%
(Ecopetrol, 6.May.2019) — Ecopetrol S.A. announced today the Ecopetrol Group’s financial results for the first quarter of 2019, prepared in accordance with International Financial Reporting Standards applicable in Colombia. The figures included in this report are not audited. The financial information is expressed in billions of Colombian pesos (COP) or […]
Tecpetrol Reports Death Of Two Contractors At FortĂn De Piedra Project
(Energy Analytics Institute, Aaron Simonsky, 6.May.2019) — Tecpetrol announced that an accident on 5 May 2019 at the CPF plant of its FortĂn de Piedra natural gas project in Argentina resulted in the death of two contractors. Workers involved in the fatality included: Cristian Nicolás Baeza, 34 years old and […]
ANCAP, MIEM Approve Regime For Open Uruguay Round
(ANCAP, 3.May.2019) — The Uruguayan National Oil Company (ANCAP) and the Ministry of Industry, Energy and Mining (MIEM), have formally approved the new Regime for the Selection of Oil Operating Companies for the Exploration and Exploitation of Hydrocarbons in onshore and offshore areas of RepĂşblica Oriental del Uruguay: Open Uruguay […]
Hess Sanctions Liza Phase 2 Development Offshore Guyana
(Hess, 3.May.2019) — Hess Corporation today announced it has received regulatory approval from the government of Guyana and has made a final investment decision to proceed with the second phase of development of the Liza Field on the Stabroek Block, offshore Guyana. Liza Phase 2 will utilize the Liza Unity […]
CGX Energy And Frontera Energy Receive Approval Of Strategic JV From Guyana
(CGX, 3.May.2019) — CGX Energy Inc. and Frontera Energy Corporation announced today that the Government of The Cooperative Republic of Guyana has approved the farm-in joint venture agreement covering two shallow water offshore Petroleum Prospecting Licenses in Guyana, the Corentyne and Demerara blocks. Under the terms of the farm-in joint […]