(Energy Analytics Institute, Piero Stewart, 15.Sep.2015) – “A $40 per barrel oil price is not a low price for Venezuela,” says Ramon Espinasa, oil economist at the Inter-American Development Bank […]
Category: Latin America and the Caribbean
Petrobras Clarifies Details of Expense Cuts
(Petrobras, 15.Sep.2015) – Petrobras hereby responds to BM&FBovespa Official Letter 2851/2015-SAE, which requests the following clarifications: BM&FBovespa Official Letter 2851/2015-SAE      “We request that you provide clarification, by 9 a.m. on […]
Venezuela’s Good, Bad Position
(Energy Analytics Institute, 14.Sep.2015) – In terms of decisions made by Venezuelan government, a former AVHI executive in Caracas shares his thoughts. “What is good for you is bad for […]
Petrobras Appoints Temp Chairman, BODs
(Petrobras, 15.Sep.2015) – Petrobras’ Board of Directors approved the appointment of Director Luiz Nelson Guedes de Carvalho at a meeting. Carvalho will chair this Board during Mr. Murilo Pinto de […]
Petrobras Updates on Leasing of Rigs
(Petrobras, 15.Sept.2015) – In regard to the news items carried by the press concerning the leasing of oil rigs, Petrobras cannot confirm that it is about to sign a 15-year […]
PDVSA Output to Likely Fall in Default Scenario
(Energy Analytics Institute, Piero Stewart, 14.Sep.2015) – In terms of a much talked about default, PDVSA would continue to function but the levels of output will likely decline due to […]
Peru’s Large Oil Block Woes
(Maria Luisa Puig, Eurasia, 14.Sept.2015) – Indigenous groups occupied the installations of block 192, the largest oil field in the Amazon jungle, to force the government to listen to their […]
PDVSA Falsely Accusing Innocent Workers
(Energy Analytics Institute, Piero Stewart, 14.Sep.2015) – PDVSA is falsely accusing innocent workers of smuggling fuel, according to an oil union official. “By falsely accusing innocent PDVSA workers of smuggling […]
Petrobras Says Board Pres. Takes Leave
(Petrobras, 14.Sep.2015) – Petrobras’ Chair of the Board of Directors, Murilo Ferreira, has advised the Board that he will be on leave of absence until 30.Nov.2015. ***
AES Awarded Panama’s First Gas-Fired Plant
(AES Corporation, 11.Sep.2015) – AES Corporation announced that its subsidiary, Gas Natural Atlantico S. de R.L., won a competitive bid process conducted by the Electric Transmission Company, SA (ETESA), the […]
Petrobras Reports on Downgrade by S&P’s
(Petrobras, 11.Sep.2015) – Regarding Standard & Poor’s announcement of its new rating on September 10, 2015, Petrobras reiterates the medium-term fundability of its projects has been assured through loans taken […]
Petrobras’ Naphtha Contract with Braskem
(Petrobras, 11.Sep.2015) – Petrobras and Braskem have signed contracts to supply naphtha for 2-months, starting on September 1, 2015: one is for the Braskem Unit in SĂŁo Paulo and the […]
Venezuela Records Quake in Sucre State
(Energy Analytics Institute, Piero Stewart, 10.Sep.2015) – A 4.5 magnitude quake was reported in Venezuela’s Sucre state (41km north of Guiria), Venezuelan Seismological Foundation (Funvisis) reported. ***
Energy Should Be Key Integration Driver
(PDVSA, 10.Sept.2015) – The World Energy Council (WEC) and the Union of South American Nations (UNASUR), with the support of the Ministry of Electricity and Renewable Energy (MEER) of Ecuador, […]
Petrobras’ Clarification on Drilling Rigs
(Petrobras, 10.Sep.2015) – Currently, Petrobras has 28 contracts with Sete Brasil to charter drilling rigs. Charter contracts for 7 of the rigs were signed in Jun.2011 and the remaining 21 […]
Del Pino Says Producers Must Overcome Differences
(Energy Analytics Institute, 10.Sep.2015) – “Let’s overcome our differences of opinion between OPEC and non OPEC producers to achieve consensus,” Venezuela’s oil ministry posted via twitter , citing the country’s oil […]
Venezuela Arrest Nine for Trafficking Copper, Lead
(AVN, 9.Sep.2015) – Venezuela’s public prosecutor office arrests 9 persons convicted of trafficking 15 tons of copper and lead that belonged to PDVSA. ***
Moody’s Withdraws Pan America Rating
(Moody’s Investor Service, 9.Sep.2015) – Moody’s Latin America Agente de CalificaciĂłn de Riesgo has withdrawn the Aa1.ar National Local Currency rating for the Senior Unsecured Bank Credit Facility of Pan […]
Gas Treatment Plant In Triguadare Operational After Fire
(Energy Analytics Institute, Piero Stewart, 8.Sep.2015) – A gas treatment plant in the Triguadare sector of Paraguana peninsula in Falcon state is operating normally after a fire was reported there […]
EMAS AMC Wins Contract for Angostura Project
(Ezra Holdings Ltd., 8.Sep.2015) – Singapore’s Ezra Holdings Limited (Ezra or the Group), a leading contractor and provider of integrated offshore solutions to the oil and gas industry, announced its […]
Guyana Cabinet Briefed on Oil Sector Management
(Guyana Government Information Agency, 4.Sep.2015) – Minister of Governance, Raphael Trotman, has briefed Cabinet on the strategic, legislative, regulatory and institutional arrangements for the management of upstream activities in the […]
Guyana To Assure No Fuel Shortages
(Guyana Government Information Agency, 4.Sep.2015) – The government of Guyana believes that its responsibility and obligation are to ensure that there will be no shortage of fuel in Guyana, and […]
H5 Settles with Chevron Over Ecuador Lawsuit
(Chevron Corporation, 3.Sep.2015) – Chevron Corporation reached a settlement agreement with H5, a California-based e-discovery and litigation services firm. In the settlement, H5 has withdrawn its support from the litigation […]
MEO Australia Signs Deal for Cuba Block 9
(MEO Australia Ltd., 3.Sep.2015) – MEO Australia Limited executed the Cuba Block 9 Production Sharing Contract (PSC) with the national oil company Cuba Petroleo Union (CUPET) in a ceremony in […]
Launching of Floatel for Pemex
(Pemex, 28.Aug.2015) – The vessel will have the capacity to accommodate 700 platform workers. The accommodation vessel (floatel, floating hotel) built to service Pemex’s platforms, was launched at Navantia’s shipyard […]
GeoPark Finds Light Oil in Colombia
(GeoPark Limited, 27.Aug.2015) – GeoPark Limited announces a new oil field discovery following drilling of exploration well Chachalaca 1, located on the Llanos 34 Block in Colombia. GeoPark operates and […]
Petrobras Output for July 2015
(Petrobras, 26.Aug.2015) – Petrobras sets new daily and monthly records for oil extraction in the pre-salt layer.    Petrobras’ average oil and natural gas production rose 1.8% in July 2015 compared […]
Petrobras Debentures Public Offering
(Petrobras, 26.Aug.2015) – Petrobras has submitted to the Brazilian Financial and Capital Markets Association (ANBIMA) a request for the preliminary analysis of registration for the public offer of simple debentures, […]
Pemex Responds to Moody’s Press Release
(Pemex, 25.Aug.2015) – Moody’s Investors Service placed Pemex’s global foreign currency and global local currency A3 ratings under review for a possible downgrade. In this regard, Pemex makes the following […]
Petrobras Pays Fine in USA
(Petrobras, 20.Aug.2015) – Regarding media reports on the payment of a fine to U.S. authorities, Petrobras states there is nothing ongoing regarding any payment of a fine to close civil […]
Ecopetrol Oks Creation of New Subsidiary
(Ecopetrol S.A., 19.Aug.2015) – The Board of Directors of Ecopetrol S.A., in its meeting held on 14.Aug.2015, authorized the creation of a Colombian company indirectly wholly owned by Ecopetrol. The […]
Details Related to Petrobras Distribuidora IPO
(Petrobras, 18.Aug.2015) – Pursuant to CVM Instruction 480/09, Petrobras has published, in the Brazilian Securities and Exchange Commission (CVM) system, an acknowledgement relating to the meeting of the Board of […]
Pemex Looks to Improve Diesel Production
(Pemex, 14.Aug.2015) – The exchange of light crude between the U.S. and Mexico will improve the production of diesel and gasoline in the country. Pemex has been notified of the […]
Pacific Rubiales Changes Name To Pacific E&P Corp.
(Pacific Rubiales, 14.Aug.2015) — Pacific Rubiales Energy Corp. changed its corporate name to Pacific Exploration and Production Corporation. The name change reflects the company’s broader focus in Latin America as […]
Life in a Venezuelan Oil Camp: TĂo Conejo Meets Uncle Sam
(Harvard Review of Latin America, Miguel Tinker Salas, 14.Aug.2015) – I grew up in a Venezuelan oil camp. Ever since I can remember, I have heard both Spanish and English […]
Ecopetrol Extraordinary Shareholder’s Meeting
(Ecopetrol S.A., 14.Aug.2015) – Due to the resignation of Mr. Gonzalo Restrepo Lopez and the election of his replacement, the CEO of Ecopetrol S.A. hereby calls on Shareholders to attend […]
Moody’s Affirms Petrobras Argentina Notes
(Moody’s Investor Service, 14.Aug.2015) – Moody’s Latin America Agente de CalificaciĂłn de Riesgo affirmed the Ba2/Aaa.ar global scale rating and national scale rating on Petrobras Argentina S.A.’s $300 million in […]
Petrobras Updates on Inclusion of Tax Debts
(Petrobras, 14.Aug.2015) – Petrobras has decided to include tax debts in the Special Installment Program – REFIS, introduced under Law 12996/2014 and regulated by the Joint Ordinance PGFN/RFB 1064/15 and […]
Fitch Affirms Corpoelec IDRs
(Fitch, 13.Aug.2015) – Fitch Ratings has affirmed Corporacion Electrica Nacional S.A.’s (CORPOELEC) local and foreign currency Issuer Default Ratings (IDRs) at ‘CCC’. ***
PDVSA’s Planned Shutdown of Cardon FCC Unit
(Energy Analytics Institute, Pietro D. Pitts, 11.Aug.2015) – The Paraguana Refining Center (CRP) will initiate a preventive shutdown of the Cardon Refinery’s Fluidized Catalytic Cracking Unit on August 13, 2015, […]
Pemex, STPRM to Review Collective Agreement
(Pemex, 11.Aug.2015) – Pemex and the Petroleum Workers Union of the Mexican Republic (STPRM, Sindicato de Trabajadores Petroleros de la RepĂşblica Mexicana) agreed to a 1-month extension for the review […]
Pemex Reports on Pipeline Fire
(Pemex, 11.Aug.2015) – The fire registered today in the Escobedo-Santa Catarina pipeline, in the municipality of GarcĂa in Nuevo LeĂłn, was caused by a blow from machinery that belonged to […]
BODs Of Pemex Drilling And Services Installed
(Pemex, 11.Aug.2015) – At the installation session of the Board of Directors of the new Productive State-owned Subsidiary (PSS) Pemex Drilling and Services (Pemex PerforaciĂłn y Servicios), the organic statute […]
Court Grants Appeal to Pemex
(Pemex, 10.Aug.2015) – The Second Joint Civil Court of the Third Circuit, based in the city of Guadalajara, granted the appeal filed by Pemex thus declaring the absence of damages […]
PetroDelta Generates $173.3 Mln in Revenue
(Harvest Natural Resources, Inc., 7.Aug.2015) – Harvest Natural Resources, Inc. announced second quarter 2015 earnings and provided an operational update. Harvest reported a 2Q:15 net loss of approximately $25.4 mln, […]
Petrobras Updates on Settlement of Tax Liability
(Petrobras, 7.Aug.2015) – Following the publication of Joint Regulation RFB/PGFN #1064 and Regulatory Instruction 1576 in the Official Gazette on 3.Aug.2015, by the Brazilian Internal Revenue and the Office of […]
Filing of IPO by Petrobras Distribuidora
(Petrobras, 7.Aug.2015) – Petrobras announces that, in continuation of the studies for the initial public offering of shares by Petrobras Distribuidora (BR), disclosed in the Material Fact of 1.Jul.2015, its […]
Petrobras Post Net 1H:15 Earnings
(Petrobras, 7.Aug.2015) – Petrobras made net earnings of R$5.9 bln in the 1H:15, down 43% from the 1H:14. This result mainly reflects an increase in net financial expenses and recognition […]
Pemex Dismantles Group With Conflict
(Pemex, 6.Aug.2015) – Pemex dismantles group composed of companies and public officials that had a conflict of interest in million-dollar contract. An investigation carried out by the Unit of Responsibilities […]