(Talos, 15.Apr.2019) — Talos Energy Inc. provided an additional update on the Zama appraisal program in Block 7, located in the offshore portion of Mexico’s prolific Sureste Basin. Talos is the operator of Block 7 in a consortium with its partners Sierra Oil & Gas, a company of DEA Deutsche […]
Category: Latin America and the Caribbean
Wigton Has Saved Jamaica $54 Million In Oil Imports
(JIS News, Serena Grant, 15.Apr.2019) — Minister of Science, Energy and Technology, Hon. Fayval Williams, says that Wigton Windfarm Limited has saved the Government expenditure of over US$54 million in oil imports. The production of clean energy from the facility has enabled the country to avoid the purchase of 800,000 […]
Fuel-Starved Haiti In Crisis As Venezuela Deal Dies
(Oilprice.com, Tsvetana Paraskova, 15.Apr.2019) — The poorest nation in the Western hemisphere has seen its fuel supply increasingly challenged since a program designed by Venezuela to supply fuel and gain influence in the Caribbean collapsed last year amid the raging Venezuelan crisis. Haiti had received almost 70 percent of […]
Bolivia’s Tarija Gas Region To Generate $2.7 Billion Through 2025
(Energy Analytics Institute, Ian Silverman, 14.Apr.2019) — Bolivia’s Tarija department is forecast to generate natural gas revenues of $2.7 billion through the end of 2025, Bolivia’s Information Agency (ABI) reported April 14. During 2006 and 2018, Tarija department generated estimated oil and gas revenues of $5 billion, ABI reported, citing […]
JPS Invests $25m In Storage Facility To Address Power Fluctuations
(Jamaica Gleaner, Steven Jackson, 14.Apr.2019) — Power utility Jamaica Public Service Company, JPS, will commission a US$25 million storage facility in phases this year as a safeguard against power outages. The 24.5 megawatt plant, the first of its kind for Jamaica, will be installed at the company’s Hunt’s Bay power […]
Chevron To Gain Anadarko’s Offshore Guyana Oil Assets After Takeover
(Stabroek News, 14.Apr.2019) — Guyana could see oil exploration activity in the ultra-deepwater region picking up pace in the near future with United States oil giant Chevron set to buy Anadarko Petroleum Corp, which holds an exploration licence for the Roraima Block offshore Guyana. As part of its crude and […]
Brazil To Auction Oil Camps Despite Environmental Warnings
(AP, Peter Prengaman and Mauricio Savarse, 13.Apr.2019) — The administration of President Jair Bolsonaro plans to auction seven offshore oil fields in the northeast despite contrary advice from analysts of Brazil’s main environmental body, according to documents obtained by the Associated Press. Environmentalists say it’s the latest example of how […]
LatAmNRG Colombia Briefs: OTA Pipeline Attack, Orca-1 Well
(Energy Analytics Institute, Piero Stewart, 12.Apr.2019) — Heard on the street and LatAmNRG briefs related to a new attack on the OTA pipeline, the Orca-1 well expected online in 2026, and Ecopetrol’s plans to expand its renewables portfolio to 181 megawatts. Ecopetrol Reports New Attack On OTA Pipeline (Energy Analytics […]
CNH Reports 6.9% Drop In Mexico’s Combined 1P Reserves
(Energy Analytics Institute, Jared Yamin, 12.Apr.2019) — Mexico’s National Hydrocarbons Commission (CNH by its Spanish acronym) announced the country’s combined proved (1P) natural gas and crude oil reserves fell 6.9% to 7.9 billion barrels of oil equivalent (Bn boe) in 2019 compared to 8.5 Bn boe in 2018, the agency […]
Bolivia’s Gas Reserves To Double By 2025: Minister
(Argus, 12.Apr.2019) — Bolivian hydrocarbons minister Luis Alberto Sanchez predicts a jump in natural gas reserves as the country’s “year of exploration” gains momentum. “Results from the first quarter were very promising,” Sanchez told Argus in an interview. “Reserves will increase from a current 10.7 trillion cf when we certify […]
Petrobras Updates On Diesel Price Readjustment
(Petrobras, 12.Apr.2019) — Petrobras informs that, in line with its strategy for diesel price readjustments, announced on 03/26/19, it revisited its hedge position and evaluated, throughout the day, with the closing of the market, that there is space to extend some days the diesel readjustment. The company reaffirms the maintenance […]
Petrobras Price Move Damages Bolsonaro’s Pro-Business Stance
(Bloomberg, Simone Preissler Iglesias and Sabrina Valle, 12.Apr.2019) — A conversation lasting less than 20 minutes was enough to put the neo-liberal credentials of Brazil President Jair Bolsonaro’s government in question. Bolsonaro and his Chief of Staff Onyx Lorenzoni suspended oil giant Petrobras’ diesel price increase late Thursday after that […]
Ecopetrol Announces Dates For Colombian Ex-dividend Period
(Ecopetrol, 12.Apr.2019) — Ecopetrol S.A. announced that according to the regulation of the Colombia Securities Exchange, the Colombian ex-dividend period for Ecopetrol’s shares begins on April 17, 2019. The ex-dividend period corresponds to the first business day for the dividend payment (April 25, 2019) and the four (4) trading days […]
Chevron Buys Anadarko In $50bn Cash-And-Stock Deal
(WoodMac, 12.Apr.2019) — Commenting on Chevron’s US$50 billion cash-and-stock acquisition of Anadarko, Roy Martin, senior analyst, corporate analysis, said: “This is the biggest upstream deal since Shell and BG in 2015. “Chevron now joins the ranks of the UltraMajors – and the big three becomes the big four.” Once the […]
LatAmNRG Frontera briefs: Ralph Coffman, NorPeruano, Intracampos bid
HOUSTON, TEXAS (By Piero Stewart, Energy Analytics Institute, 11.Apr.2019, Words: 314) — Heard on the street and LatAmNRG briefs related to Frontera Energy Corporation and its operations in Colombia, Peru, Guyana and Ecuador. Ralph Coffman Expected To Spud Offshore Guyana In 3Q:19 (Frontera, 11.Apr.2019) — Frontera says a definitive rig […]
Shell’s STEM Path To The Future
(Trinidad and Tobago News Day, Melanie Waithe, 11.Apr.2019) — Ever took a walk on the bottom of the sea, to see how natural gas is extracted from beneath the earth’s surface and brought on land to be processed at a liquefied natural gas (LNG) facility? More than 900 students got […]
Frontera Announces 1Q:19 Update On Colombia, Peru, Guyana, and Ecuador
(Frontera, 11.Apr.2019) — Frontera Energy Corporation announces a first quarter 2019 operational update. All values in this news release and the company’s financial disclosures are in United States dollars, unless otherwise noted. Richard Herbert, Chief Executive Officer of Frontera, commented: “2019 is off to a strong start for Frontera, with […]
To Halt Energy Slide, Mexico Turns To A Trusted Provider: Mexico
(NYT, Elisabeth Malkin, 11.Apr.2019) — President Andrés Manuel López Obrador envisions a future in which Mexico produces more oil, gasoline and electricity. But his strategy to get there relies on reaching back into his country’s past. Breaking with a five-year-old energy overhaul that opened Mexico’s closely held oil industry to […]
Enel Ups Stake In Chile Unit, Supports $3.5bn Capital Hike Plan
(Renewables Now, 11.Apr.2019) — Italian renewables-focused utility Enel SpA (BIT:ENEL) on Wednesday said it has concluded the purchase of an additional 4.62% stake in its Chile-based unit and announced plans to support an upcoming capital hike at the same subsidiary. Enel has settled two previously announced share-swap transactions, buying nearly […]
Ecopetrol President Says Colombia Gas Potential Between 14-64 Tcf
(Energy Analytics Institute, Piero Stewart, 10.Apr.2019) — Colombia’s natural gas potential — including onshore, offshore and non-conventional resources — is between 14 and 64 trillion cubic feet (Tcf), Ecopetrol President Felipe Bayón said on 10 April in an official company statement. Colombia’s potential gas resources are distributed as such: — […]
Vista Oil & Gas Releases Details Related To Shareholder’s Meeting
(Vista, 10.Apr.2019) — Vista Oil & Gas S.A.B. de C.V. announced details of the company’s Ordinary General Shareholders’ Meeting slated for 25 April 2019. Attached you will find the call for the company’s Ordinary General Shareholders’ Meeting, which will take place at 10.00 AM CST (11.00 AM EST / 12.00 […]
PetroPerú President Says Final Cost Of Talara Refinery Is $5 Billion
(Energy Analytics Institute, Ian Silverman, 10.Apr.2019) — The inal cost of the Talara refinery in Peru is $5 billion, including $695 million in interest related to the project’s financing, announced PetroPerú’s President Esteban Bertarelli Bustamante in a company video. This compares to an initial cost of around $5.4 billion, when […]
Lights Dimming On Big Oil In Venezuela
(Argus, Patricia Garip, 10.Apr.2019) — Darkness has befallen Venezuela in more than one sense, and incumbent oil companies are scrambling for a ray of light. It was hard enough for western oil companies to operate in Venezuela before the lights went out in March. Now it is nearing impossible, at […]
Colombia Could Assist, Benefit From Venezuela Oil Recovery: Former Minister
(S&P Global Platts, 10.Apr.2019) — Colombia could use its oil expertise to assist in, and benefit from, the secondary recovery of Venezuela’s heavy crude production, Colombia’s former energy minister said Wednesday. Colombia has a crop of heavy oil fields that contribute to its own 900,000 b/d of current oil production, […]
Peru Cuts Gas Reserves, CNPC Block On Hold
(Argus, 10.Apr.2019) — Peru’s natural gas reserves declined after the energy ministry reclassified the potential of Chinese state-owned CNPC’s block 58 from proven/probable reserves to contingent resources. The ministry said the decision was based on the methodology used for the report, which classifies P2 reserves as those that will be […]
Brazil To Pay Petrobras $9B In Oil Contract Settlement
(SeekingAlpha, Carl Surran, 10.Apr.2019) — Brazil’s government will pay $9.06B to Petrobras for revising the contract for the transfer of rights area, Energy Minister Albuquerque announced late yesterday. The resolution opens the way for an Oct. 28 auction to develop excess oil reserves beyond the 5B barrels the company is […]
US Acknowledges Guyana’s Right To Renegotiate Exxon Deal If It So Chooses
(Stabroek News, 10.Apr.2019) — The United States acknowledges that it is within Guyana’s sovereign right to renegotiate the controversial Production Sharing Agreement (PSA) between the country and ExxonMobil and its partners if it so chooses, recently accredited US Ambassador to Guyana, Sarah-Ann Lynch says. “We certainly believe that Guyana is […]
Mexico Would Consider State Gas Stations In Push For Fair Prices
(Reuters, 9.Apr.2019) — Mexico’s President Andres Manuel Lopez Obrador said on Tuesday he would consider creating a chain of government gas stations if existing fuel outlets did not charge “fair prices,” as he seeks to make good on a campaign vow to ensure stable fuel rates. Benchmark gasoline prices have […]
Mexican President Warns Retailers: Keep Gas Prices In Check
(Oilprice.com, Tsvetana Paraskova, 9.Apr.2019) — The Mexican government may consider creating a small network of gas stations that would sell gasoline at lower, “fair prices”, if gas station operators in the country don’t keep gas prices in check, Mexico’s leftist President Andrés Manuel López Obrador said on Tuesday. López Obrador—in […]
Brazil’s Petrobras Announces Final Tender Results
(Petrobras, 9.Apr.2019) — Petrobras announced the final results of its previously announced debt tender offers (the “Waterfall Offers”). As of 11:59 p.m., New York City time, on April 8, 2019 (the “Expiration Date”) holders of US$1,867,021,000 and €371,098,000 principal amount of the outstanding notes of the series set forth in […]
Argentina Sees Steady Growth In Light Crude Exports From Vaca Muerta
(S&P Global Platts, 9.Apr.2019) — Argentina’s state-led YPF is preparing a shipment of light crude from Vaca Muerta, a trend the federal government expects to gain as production increases from the shale play, Argentinian Energy Secretary Gustavo Lopetegui said Tuesday. “This year for the first time in many years we […]
Petrobras Informs On Sale Of Liquigás: Publication Of The New Teaser
(Petrobras, 9.Apr.2019) — Petrobras, following up on the press release disclosed on 04/05/2019, regarding the competitive sale process of 100% of Liquigás Distribuidora SA, informs that the new Teaser, which contains the main information about the opportunity, as well as wider eligibility criteria for the selection of potential participants, is […]
TechnipFMC Inks Significant Subsea Deal For The Lapa Pre-Salt Field In Brazil
(Energy Analytics Institute, Aaron Simonsky, 9.Apr.2019) — TechnipFMC said it has been awarded a significant contract for the Lapa field by Total E&P do Brasil Ltda., on behalf of the Lapa Field Consortium, comprised of Total (35% WI), Shell Brasil Petróleo Ltda. (30% WI), Repsol Sinopec Brasil S.A. (25% WI) […]
Petrobras Updates On National Council of Energy Policy (CNPE)
(Petrobras, 9.Apr.2019) — Petrobras informs that became aware of the CNPE announcement regarding the revision of the Transfer of Rights Agreement in reference to their meeting held today. According to the CNPE statement, Petrobras will be compensated by US$ 9,058 billion (nine billion and fifty eight million dollars) due to […]
Texas’ Pete Olson Calls For Maduro To Release Citgo 6
(The Katy News, 8.Apr.2019) — Rep. Pete Olson (TX-22) issued the following statement calling on the Maduro regime to release the six Citgo executives, five of whom are Texans, who have been detained in Venezuela since November 2017: “The CITGO 6 are Texas and Louisiana residents who have been detained […]
Nigeria Advised To Emulate Trinidad And Tobago In Gas Utilization
(African News Network, 9.Apr.2019) — Nigeria has been advised to emulate the way Trinidad and Tobago develops and utilizes gas resources for the benefit of its citizens. The Island’s high commissioner in Nigeria, William Wallace, says the country should copy what happens in his country, where he said citizens and […]
AES Gener Announces Expiration And Final Tender Results
(AES, 8.Apr.2019) — AES Gener S.A. announced the final results of the previously announced offer to purchase for cash (the “Tender Offer”) of any and all of its 8.375% Junior Subordinated Capital Notes due 2073, listed in the table below (collectively, the “Notes.”). The Tender Offer for the 2073 Notes […]
Repsol And Petro-Peru Raise Fuel Prices Again In Peru
(Energy Analytics Institute, Ian Silverman, 8.Apr.2019) — Repsol and Petro-Peru released details of their new fuel prices over the weekend. According to the details, fuel oil and gasoline prices rose between 0.6% and 3% per gallon, including taxes, online media El Comercio reported, citing data from Peru’s Consumers and Users […]
Ecuador’s Oil Production Climbs To 522 Mb/d In March 2019
(Energy Analytics Institute, Piero Stewart, 8.Apr.2019) — Ecuador’s production of crude oil rose to 522 Mb/d in March 2019 compared to 519 Mb/d in February and 517 Mb/d in January 2019, the country’s Energy Ministry announced 8 April 2019 in a post on its twitter account. Of the amounts in […]
Argentina’s Incumbent Political Party Wins Rio Negro Oil Province Election
(S&P Global Platts, 8.Apr.2019) — The incumbent political party in Rio Negro, an oil province in Argentina, won the re-election on Sunday; a result that could favor President Mauricio Macri’s chance for a second term in October, allowing him to press ahead with measures and policies driving a recovery in […]
La Banderita Wind Farm Starts Operations In La Pampa
(Energy Analytics Institute, Aaron Simonsky, 8.Apr.2019) — With entry into commercial operation of the La Banderita wind farm in La Pampa, there are currently already 35 renewable energy projects with a combined installed capacity of 1,024.3 megawatts (MW) that have come online since 2016. These projects — awarded through RenovAr […]
Oil Pipeline Explodes In Mexico Sending Flames Shooting 16ft Into The Sky
(Mailonline, Stefan Boscia, 8.Apr.2019) — An oil pipeline has exploded in the Mexican city of Leon in the aftermath of a botched attempt to steal fuel by one of the country’s notorious drug cartels. Flames reaching as high as sixteen feet were the only lights some residents of the central […]
Knowledge Exchange Spurs China-Argentina Infrastructure Projects
(Xinhua, 8.Apr.2019) — Knowledge exchange between Chinese and Argentine technicians spurs large-scale joint infrastructure projects within the framework of the Belt and Road Initiative (BRI), said Argentine workers at Chinese company Power China. Chinese company Power China is currently helping develop Argentina’s alternative energy sources by building a series of […]
Chile, India, And Jordan Set The Green Standard
(The Christian Science Monitor, Timmy Broderick, 8.Apr.2019) — Solar panels, wind turbines, geothermal vents – all three are technologies that were once solely the province of wealthy nations. Now they have been swiftly adopted in developing countries as costs have plummeted. In fact, global emerging economies added more clean power […]
Enel Green Power Switches On 86-MW Solar Plant In Colombia
(Renewables Now, 8.Apr.2019) — Italian energy major Enel SpA inaugurated on Friday an 86.2-MW solar photovoltaic (PV) farm in Colombia’s Cesar department. The company’s local renewables subsidiary, Enel Green Power Colombia (EGPC), has invested nearly USD 70 million (EUR 62.3m) in the El Paso PV farm, the local energy ministry […]
Students Put Energy Efficient Cars To The Test At Shell Eco-marathon Americas
(Shell, 7.Apr.2019) — Make the Future Live California featuring Shell Eco-marathon Americas drew more than 1,000 students to Sonoma Raceway to compete for the title of most fuel-efficient vehicle. Northern Illinois University of DeKalb, Illinois took home first place in the Internal Combustion Engine Prototype category with their gasoline-fueled vehicle […]
Neuquén Holds 73% Of Argentina’s Recoverable Shale Gas
(Energy Analytics Institute, Pietro D. Pitts, 7.Apr.2019) — Argentina contains the second largest recoverable non-conventional natural gas resources in the world with 802.2 trillion cubic feet (Tcf), only trailing Asian giant China, which holds 1,115 Tcf, according to data published by US-based Energy Information Administration or (EIA). Of the resources, […]
Siderúrgica Del Mutún Eyes Exporting 150,000 Tons Of Iron To Mainly Argentina
(Energy Analytics Institute, Ian Silverman, 29.Apr.2019) — Siderúrgica del Mutún (ESM by its Spanish acronym) exported 20,000 tons of Bolivian iron to Argentina in the first quarter of 2019, announced ESM President Jesús Lara. “The goal this year is to export around 150,000 tons of iron, mainly to the Argentine […]
Pemex Said Not To Issue Debt Over the Medium-Term
(Energy Analytics Institute, Jared Yamin, 30.Apr.2019) — Petróleos Mexicanos (Pemex) will not return to financial markets to issue debt over the medium term because spreads are high since the market is taking into account the company’s low credit quality, the Secretary of the Treasury and the rating agency Standard & […]
LatAmNRG Colombia Briefs: El Paso Solar Park, Seeking Electricaribe Investors
(Energy Analytics Institute, Piero Stewart, 5.Apr.2019) — Heard on the street and LatAmNRG briefs related to Colombia an inauguration of the 86.2 megawatt El Paso solar park in Cesar and the Colombian government seeking investors and/or operators for Electricaribe. Colombia Inaugurates 86.2 MW El Paso Solar Park In Cesar (Energy […]