Latin America and the Caribbean Archives - Page 199 of 220

Venezuela, Turkey Discuss Oil Supply

(Energy Analytics Institute, Piero Stewart, 14.Jul.2018) – Venezuela’s President Nicolás Maduro announced the two countries could soon sign a new oil agreement. “A new agreement thereon shall be signed pretty soon,” reported PDVSA in an official statement, citing Maduro. No specifics were provided in the statement. ***

Machado Says Venezuela “Show Can’t Go On”

(Energy Analytics Institute, Piero Stewart, 13.Jul.2018) – Opposition leader María Corina Machado said the “show can’t go on” during a video broadcast from Punto Fijo. The leader’s video in reaction to a recent oil spill at PDVSA that the state oil company blamed on workers. El “show” NO PUEDE continuar. […]

Ecuador Court Upholds $9bn Chevron Ruling

(AP, 13.Jul.2018) – Ecuador’s highest court has upheld a US$9.5 billion judgment against oil giant Chevron for decades of rainforest damage. Plaintiffs celebrated the constitutional court’s decision announced Tuesday night, saying it should pave the way for indigenous tribes to receive compensation for oil spills that contaminated groundwater and soil […]

Pemex, Energy Offices to be Moved

(Natural Gas Intelligence, Ronald Buchanan, 13.Jul.2018) – Mexico President-Elect Andres Manuel Lopez Obrador aims to decentralize the government in a sweeping plan to ease the congestion of population, buildings, vehicles and pollution in the “megalopolis” of Mexico City, a strategy likely to impact the country’s energy sector from top to […]

Latin America and the Caribbean

Guyana’s Doors Open for Caricom Investors

(CMC, 13.Jul.2018) – President David Granger has extended an invitation to Caricom member states to invest in the oil sector and other sectors of Guyana. Speaking on the sidelines of the 39th Meeting of the Conference of Heads of Government of the Caribbean Community (Caricom) here recently, Granger said, “The […]

Ecuador’s ITT Output Around 60 Mb/d

(Energy Analytics Institute, Piero Stewart, 13.Jul.2018) – Oil production from the Ishpingo, Tambococha and Tiputini or ITT field is around 60,000 barrels per day. With additional work activities, production from ITT is expected to reach up to 70,000 b/d, reported the daily newspaper El Universo, citing PetroAmazonas EP Manager Álex […]

CNH Says Mexico Must Reduce Oil Dependence

(Energy Analytics Institute, Ian Silverman, 13.Jul.2018) – Mexico must reduce its dependence on the United States in regards energy issues. The country can achieve this goal by increasing its refining capacity, reported the daily newspaper La Jornada, citing National Hydrocarbons Commission (CNH by its Spanish acronym) President Juan Carlos Zepeda. […]

Cos. Form Advisory Board for LatAm Gas Conference

(Latin America & Caribbean Gas Conference & Exhibition, 12.Jul.2018) – Influential organisations in the global natural gas industry have united to form an Advisory Board to the Latin America & Caribbean Gas Conference & Exhibition (LGC), taking place in October 2018. The ‘Advisory Board for Gas Development in Latin America […]

Indigenous Groups Await Chevron Payments

(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – Indigenous groups in Ecuador that were affected by activities of San Roman, California-based Chevron in the country continue to await payment from the oil giant. Ermel Chávez, from the Amazon Defense Front, recently spoke about the issue during a press conference in Ecuador. […]

FDI in LAC Region Falls for Third Straight Year

(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – Foreign Direct Investment (FDI) in Latin America and the Caribbean fell for a third straight year in 2017, reported the Economic Commission for Latin America and the Caribbean or CEPAL by its Spanish acronym. The details were revealed in CEPAL’s annual report titled […]

Bolivia, Argentina to Meet Over Gas Volumes

(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – The Bolivian government is still analyzing Argentina’s request to increase natural gas export volumes during the winter season and reduce them in summer. Meetings between officials from Bolivia and Argentina are expected in coming weeks to discuss the proposals, reported the daily newspaper […]

ANCAP and ALUR Combined $160 Mln Credits

(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – Two resolutions from the Uruguayan government late last month will authorize Ancap and ALUR to access credits for up to $160 million. In 2018, Uruguay’s state oil company Ancap plans to overcome its $136 million financial indebtedness by renewing it for an amount […]

Eni Hat-trick at Mackenzie’s Annual Awards

(Wood Mackenzie, 12.Jul.2018) – Italian major Eni won its third consecutive Most-Admired Explorer title, an accolade awarded in conjunction with Wood Mackenzie’s industry-leading annual Exploration Survey. Eni’s chief exploration officer, Luca Bertelli, accepted the award – which Eni has won for three years in a row – at the inaugural […]

No End In Sight For Venezuela’s Oil Crisis

(OilPrice.com, Nick Cunningham, 12.Jul.2018) – Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the month, pointing to a grim near-term future that could see total production dip below 1 […]

TDI Operating One Rig in Mexico

(Energy Analytics Institute, Jared Yamin, 12.Jul.2018) – Trinidad Drilling Ltd. announced its international joint venture (TDI) currently has two rigs operating, one in Bahrain and one in Mexico. Trinidad Drilling Ltd. – which provides contract drilling and related services in Mexico – revealed the details in an official statement, but […]

Mexico’s Gov’t to Focus on Boosting Fuel Output

(Reuters, 12.Jul.2018) – Mexico’s next energy agenda will prioritize increasing gasoline and diesel production and later decide on possible changes to the industry reform championed by the outgoing government, according to a top aide to President-elect Andres Manuel Lopez Obrador. Rocio Nahle, tapped by Lopez Obrador to be energy minister, […]

AMLO Seeks to End Mexico’s Energy Dependence

(TeleSur, 11.Jul.2018) – Mexico’s national energy demand has become highly dependent on the United States. Mexico’s next energy minister under president-elect Andres Manuel Lopez Obrador has said that the new administration’s energy agenda will be to increase domestic gas and diesel production and reduce dependency on foreign imports. Rocio Nahle, […]

Pre-Salt Rich Brazil – Gas Imports? Yes please.

Argentina Affirms Liberalization Of Fuels Market

(Institute of the Americas, Jeremy Martin, 11.Jul.2018) – Directly answering a question during an interview in a local media program about the issue of fuels market and pricing, newly-installed Energy Minister Javier Iguacel said: “There is no restriction. There is a free market.” The statement, on its face, does not […]

The Caracas Metro: Still Standing For Now

(Energy Analytics Institute, Piero Stewart, 11.Jul.2018) – The subway system serving the Venezuelan capital is on the verge of collapse due to lackluster maintenance amid ongoing economic, political and humanitarian crises. Daily occurrences now include but are not limited to: armed robberies, shootings, petty thefts, fights, and of course power […]

PDVSA Gas Replaces Section of Gas Pipeline

(Energy Analytics Institute, Piero Stewart, 11.Jul.2018) – PDVSA Gas announced completion of work on the Cariaco-Margarita Wharf section of the Northeast G / J Gas José Francisco Bermúdez pipeline. Work on the section entailed removing and replacing a 48 meter long section of the 16-inch diameter pipeline that transports natural […]

Ecuador, Venezuela Output Down, OPEC Reports

(Energy Analytics Institute, Ian Silverman, 11.Jul.2018) – The Organization of Petroleum Exporting Countries published its July 2018 edition of its Monthly Oil Market Report (MOMR). Crude oil production from Ecuador and Venezuela — the lone countries from Latin America to be members of OPEC — fell this month (see charts). […]

PetroCaribe fund to flow into government coffers

(Jamaica Gleaner, 11.Jul.2018) – In a matter of months, the US$1.6 billion, or more than J$208 billion, now in the PetroCaribe Development Fund (PDF) is to flow to the Consolidated Fund and could be administered as the Minister of Finance sees fit. The transition is expected to happen by the […]

Mexican Refineries a Must for “Energy Security”

(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – Given Mexico’s dependence on imported fuel, construction of two new refineries in the country “isn’t a business issue, it’s for energy security,” said researcher and hydrocarbons analyst Fluvio Ruiz Alarcón. Just as recently as May 2018, Mexico imported 520,000 barrels per day of […]

Stock to Watch: ExxonMobil in Guyana

(OilPrice.com, Meredith Taylor, 10.Jul.2018) – American energy dominance is on the rise. In March 2018, the U.S. beat its all-time record and pumped more than 10.4 million barrels per day (bpd). Energy stocks are way up on strong forecasts of future demand. Mentioned in today’s commentary includes: Exxon-Mobil Corp. (NYSE:XOM), […]

Pemex Alerts Against Criminal Group

(Pemex, 10.Jul.2018) – The State-Owned Productive Company filed a criminal report before the Office of the Attorney General to initiate the investigation of this suspected criminal activity. On June 29th, Petróleos Mexicanos filed a criminal claim before the Office of the Attorney General (initials in Spanish: PGR), upon detecting that […]

Costa Rica to Use Plastics for Roads

(Energy Analytics Institute, Ian Silverman, 10.Jul.2018) – A small Central American country will be considered a pioneer in the region with use of a type of “eco-friendly asphalt” that gives a new life to plastics. This week the Costa Rican government announced the country would begin to pave streets with […]

EP PetroEcuador, Politécnica Nacional Sign Deal

(Energy Analytics Institute, Ian Silverman, 10.Jul.2018) – EP PetroEcuador and the Escuela Politécnica Nacional (EPN by its Spanish acronym) signed an Inter-institutional Technical Cooperation Agreement that relates to the early detection of seismic or volcanic phenomena that may affect the transport, storage, refining and commercialization of hydrocarbons of the state […]

UDLA Students Visit Soil Treatment Center

(Energy Analytics Institute, Ian Silverman, 10.Jul.2018) – Nearly 27 engineering students studying Environmental Engineering and Biotechnology Engineering at Ecuador’s Americas University (Universidad de las Américas or UDLA by its Spanish acronym) visited the El Salado Soil Treatment Center, located in the province of Napo. The students visited the site with […]

BP Opens 6 Petrol Stations in Campeche

(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – British Petroleum extended its operations in the country this week. Today, we have arrived to Campeche, a state with an increase in tourist activity, reported the daily, citing BP Fuels Mexico General Director Alvaro Granada. The British company initiated activities in Campeche with […]

Pemex Alerts on Fraud Via Identity Theft

(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – Pemex filed a complaint with the Attorney General’s Office demanding the entity investigate the alleged crimes. In its complaint, Mexico’s state oil company Petróleos Mexicanos warned that a criminal group had been seizing the identities of officials in order to carry out the […]

Pampa Reaches 35-Year Deal in Sierra Chata Block

(Pampa Energía S.A., 10.Jul.2018) – Pampa Energía S.A. announced an Investment Agreement was executed with the Neuquén province, which will grant a new 35-year concession for unconventional hydrocarbon exploitation at the Sierra Chata block (the ‘Block’), aiming at the development of unconventional shale and tight gas in the Vaca Muerta […]

Trinidad Seeks Assistance In Leak Cleanup

(LoopTT, 9.Jul.2018) – Cleanup operations continue following a leak at the Couva Marine 2 Well. Personnel with the Energy Ministry and Petrotrin’s Incident Command team have been monitoring the leaking wellhead and assessing the nature and impact of the hydrocarbon emissions. The leak, which was initially reported last Wednesday, is […]

Echo Says Completes Drilling CSo-2001(d) Well

(Echo Energy plc, 9.Jul.2018) – Echo Energy plc successfully completed drilling of the CSo-2001(d) well in which a notable gas column has been interpreted from the wireline logging suite. The CSo-2001(d) well, located in the Fracción D licence operated by Compañia General de Combustibles S.A. (CGC), reached a total depth […]

Trinidad Seeks Help As Oil Well Ruptures

(Prensa Latina, 9.Jul.2018) – A fuel leak in the Couva platform, in the Gulf of Paria, Trinidad and Tobago, continues today after four days of being initiated, before which the government requests international assistance. Since last Thursday, the well has been pouring hydrocarbons in this area, shared with Venezuela, which […]

Frontera Ends Pacific Midstream Sale Agreement

(Frontera Energy Corporation, 9.Jul.2018) – Frontera Energy Corporation announced that, effective July 6, 2018, it has terminated its agreement to purchase 36.36% of Pacific Midstream Limited (PML). Frontera elected to terminate its share sale agreement with the International Finance Corporation (IFC) and related funds to purchase the IFC’s 36.36% stake […]

Frontera’s Intent to Implement Course Issuer Bid

(Frontera Energy Corporation, 9.Jul.2018) – Frontera Energy Corporation intends to implement a normal course issuer bid (NCIB) for its common shares. The NCIB will be made in accordance with the policies of the Toronto Stock Exchange (TSX) and the commencement of purchases under the NCIB is subject to approval of […]

Renaissance Approved to Develop Chiapas Blocks

(Renaissance Oil Corp. 9.Jul.2018) – Renaissance Oil Corp. received final authorizations from the relevant Mexican authorities to proceed with the development program on the company’s three 100% held producing properties in the state of Chiapas. This development program, designed to significantly enhance production along with the exploration of new formations, […]

Renaissance Says Pitepec Block Details Attractive

(Renaissance Oil Corp. 9.Jul.2018) – Renaissance Oil Corp. recently signed a Right of First Refusal (ROFR), for the Pitepec block, adjacent to the north of the Amatitlán block in the Tampico Misantla Basin. “As a result of our comprehensive analysis, the Pitepec block displays all of the attributes of a […]

ENAP Says Clean Energy is Chile’s Future

(Energy Analytics Institute, Ian Silverman, 9.Jul.2018) – Chile’s state oil company ENAP says it’s developing a wind park in Magallanes in an official Twitter post. No further details were revealed. However, the benefits of the wind park include: — It’s renewable, — No greenhouse gases emitted, and — Permits sustainable […]

Jusepín Oil Spill Demonstrates PDVSA Safety Failures

(Maritime Herald, 9.Jul.2018) – The oil spill that occurred this Friday, July 6 in two tanks of the secondary recovery plant of the Jusepín Operational Complex of Pdvsa, demonstrates the safety failures of the Venezuelan state industry. This is what the biologist, Alejandro Álvarez Iragorry, considers that what happened for […]

Role of Peru’s Hydrocarbon Industry on Development

(Energy Analytics Institute, Ian Silverman, 9.Jul.2018) – PeruPetro will host a conference titled “Role of the Petroleum and Gas Industry for Peru’s Economic Development.” Details follow: When: 7 July 2018 Where: Talara, Peru Venue: Javier Pérez de Cuellar Auditorium (2nd floor of Municipal Library) Contact: PeruPetro ***

Haiti backtracks on fuel increase

HOUSTON, TEXAS (By Ian Silverman, Energy Analytics Institute, Ian Silverman, 9.Jul.2018, Words: 98) – The Haitian government reversed a controversial fuel hike announced over the weekend due to violent protest in the capital and other parts of the country. The fuel hike was implemented as part of IMF stipulated sanctions, […]

IEnova to Spend $150 Mln on Mexican Terminal

(San Diego Union Tribune, Rob Nikolewski, 9.Jul.2018) – Continuing its aggressive corporate strategy, IEnova – the Mexican subsidiary of San Diego-based Sempra Energy – added another asset to its energy portfolio Monday by announcing it will spend $150 million to build and operate a liquid fuels marine terminal in the […]

No Oil, No Army: Costa Rica First Nation To Eliminate Fossil Fuels

(Sputnik News, 8.July.2018) — Costa Rica will become the first nation in the world to completely eliminate fossil fuels. In May, the country’s new president, 38-year-old former journalist Carlos Alvarado announced the plan to ban fossil fuels during his inauguration speech. “Decarbonization is the great task of our generation and […]

ExxonMobil says Not Funding Political Party in Guyana

(Stabroek News, Marcelle Thomas, 8.Jul.2018) – Facing questions from a parliamentary committee, ExxonMobil yesterday denied that it was funding any political party or political initiatives in Guyana. A meeting between the Parliamentary Sectoral Committee on Natural Resources and the US oil giant became testy when allegations of possible funding of […]

Quevedo Prays for Higher Venezuelan Output

(Energy Analytics Institute, Piero Stewart, 8.Jul.2018) – Venezuela’s Oil Minister General Manuel Quevedo prayed to God in search of divine assistance to boost Venezuela’s oil production. The prayer was made by Quevedo during his participation in a special mass held at the headquarters of PDVSA and Venezuela’s Oil Ministry in […]

Could Guyana’s Oil Fortunes Curse Country?

(Energy Analytics Institute, Pietro D. Pitts, 8.Jul.2018) – Recent success in Guyana’s oil sector could be a wolf in sheep’s clothing. Guyana doesn’t yet produce oil but in coming years its oil output is expected to surpass that of Peru and Trinidad and Tobago and could approach that of Ecuador, […]

Ecopetrol to Operate Dina Gas Plant

(Energy Analytics Institute, Piero Stewart, 8.Jul.2018) – The gas plant has treatment capacity of 10 million cubic feet per day (MMcf/d) of natural gas. Ecopetrol initiated direct operation of Dina gas treatment plant (PTGD by its Spanish acronym), located in Huila, which since April 2010 has been operated by Masa […]

Chile to Export Gas to Argentina

(Energy Analytics Institute, Ian Silverman, 8.Jul.2018) – Chile signed an agreement to export natural gas to Argentina over the next three years. The agreement allows Chile to export a maximum 3 million cubic meters per day (MMcm/d) of natural gas to Argentina during the austral winter, state oil company ENAP […]