(Ecopetrol S.A., 5.Aug.2015) – Ecopetrol announced Ecopetrol Corporate Group’s financial results for the 2Q:15 and the 1H:15, prepared and filed in Colombian pesos (COP$) and on the basis of International […]
Category: Latin America and the Caribbean
FPSO Starts Ops in Santos Basin Pre-Salt
(Petrobras, 1.Aug.2015) – On July 31, 2015, the Cidade de Itaguaà started up production to commence the operational phase of the Iracema Norte project. This area is located in the […]
Petrobras Tightens Controls in Hiring Suppliers
(Petrobras, 31.Jul.2015) – The Federal Public Prosecution Ministry returned R$139 mln misappropriated by former employees to Petrobras. Petrobras has made its supplier management process stricter. Its suppliers must now provide […]
Pemex, Union Agree to Review Collective Deal
(Pemex, 30.Jul.2015) – Pemex and the Petroleum Workers Union of the Mexican Republic (STPRM) agreed to an extension in reviewing the Collective Bargaining Agreement (CBA) that will regulate the employment […]
PBF to Close Chalmette Deal by YE:15
(PBF Energy, 30.Jul.2015) – On 18.Jun.2015, PBF announced that its subsidiary signed a definitive agreement to purchase Chalmette Refining, LLC, consisting of the 189 Mb/d Chalmette Refinery and related logistics […]
Pemex Signs With Santander for Banking Services
(Pemex, 28.Jul.2015) – Pemex and Banco Santander signed a collaboration agreement to provide credit and banking services to gas stations comprising the network of service stations nationwide. The agreement will […]
SBM Completes $1.55 Bln Financing of FPSO
(SBM Offshore N.V., 28.Jul.2015) – SBM Offshore N.V. announced that on 27.Jul.2015 it completed the project financing of FPSO Cidade de Saquarema — which will be deployed to the Lula […]
Ecopetrol Announces Caribbean Deepwater Find
(Ecopetrol S.A., 28.Jul.2015) – Ecopetrol informs that at a depth of 3720 meters, the Kronos-1 well verified the presence of hydrocarbons in ultra-deepwater of Colombian south Caribbean area. This discovery […]
Pemex to Supply Isthmus Crude to Japan
(Pemex, 24Jul.2015) – Pemex, through P.M.I. Comercio Internacional (PMI), and the largest refining company in Japan, JX Nippon Oil & Energy Corporation, agreed to ship 6 MMbbls of Isthmus crude […]
Pemex, Sedatu Sign Cooperation Agreement
(Pemex, 22.Jul.2015) – Pemex and the Ministry of Agrarian, Land and Urban Development (SEDATU), through the Agrarian Attorney’s Office (PA), signed a Cooperation Agreement to establish mechanisms for information, advice […]
Petrobras Clarifies Contract with Braskem
(Petrobras, 22.Jul.2015) – In regard to the news published by the press on the Braskem contract, Petrobras would like to make it clear that the naphtha supply contract between Petrobras […]
Petrobras Clarifies IPO News
(Petrobras, 21.Jul.2015) – Regarding reports in the press about an Initial Public Offering (IPO) for BR Distribuidora S.A., Petrobras clarifies that, as announced on 1.Jul.2015, the Executive Board authorized a […]
Pemex, OECD Promote Best Procurement Practices
(Pemex, 20.Jul.2015) – Pemex, through its Corporate Office of Procurement and Supply, signed an agreement with the Organization for Economic Cooperation and Development (OECD) that will enable Pemex to adopt […]
Ecopetrol Updates on BODs Decision
(Ecopetrol S.A., 19.Jul.2015) – Ecopetrol reports that, at the Board of Directors’ meeting on July 17, 2015, the Board of Directors decided as follows: — To accept the resignation of […]
Petrobras Updates on Tax Contingency
(Petrobras, 17.Jul.2015) – Due to the unfavorable final ruling by the Tax Appeals Board (CARF), Petrobras paid R$1.6 bln to cover the Tax Deficiency Notice issued by the Brazilian Federal […]
Petrobras Decision on Parque das Baleias Arbitration
(Petrobras, 17.Jul.2015) – Further to the Parque das Baleias Arbitration released on July 6, 2015, the Arbitration Tribunal issued a new ruling (16.Jul.2015) to suspend deposits of disputed special participation […]
Elevated Corporate Risks in Argentina
(Moody’s Investor Service, 16.Jul.2015) – Economic stagnation, a difficult political environment and heightened volatility in financial markets with the approach of presidential elections will be elevating pressures on non-financial companies […]
FPSO Cidade de Marica Arrives in Brazil
(SBM Offshore B.V., 10.Jul.2015) – SBM Offshore announced the arrival of FPSO Cidade de Marica at BRASA, Brazil. The SBM Offshore vessel berthed safely at the Niteroi-Rio based yard 9.Jul.2015. […]
Guyana Pursues Diplomatic Option with Venezuela
(GINA, 9.Jul.2015) – Guyana’s President David Granger reiterated that diplomacy will remain as his country’s first option as it stands resolute against all forms of aggression. “We have never, as […]
Geopark Announces Potential of LatAm Portfolio
(GeoPark Limited, 6.Jul.2015) – GeoPark Limited announced the results of an independent audit of the company’s exploration resources as of 31.Dec.2014, prepared by Gaffney, Cline & Associates (GCA). GeoPark has […]
Douglas-Westood: Brazil in Deep Trouble
(Douglas-Westwood, 7.Jul.2015) – Douglas-Westwood commented on “Brazil – In Deep Trouble” in its latest edition of DW Monday. Petrobras has long been a pioneer in the adoption and deployment of […]
FPSO Cidade de Itaguai Arrive at Iracema
(Petroleo Brasileiro S.A., 6.Jul.2015) – Petroleo Brasileiro S.A. (Petrobras) reported that the floating production, storage and offloading unit (FPSO) Cidade de Itaguai is now anchored in the Iracema Norte area […]
Court’s Prelim Ruling on Parque das Baleias
(Petrobras, 6.Jul.2015) – On 2.Jul.2015, the Arbitration Court granted a provisional remedy in an action filed by Petrobras relating to a resolution of the National Agency of Petroleum, Natural Gas […]
Petrobras Reports Sale of Bijupirá, Salema fields
(Petrobras, 2.Jul.2015) – Petrobras signed with PetroRio S.A. contracts for the sale of 20% of its stake in the concessions of Bijupirá and Salema fields, currently operated by Shell. The […]
Petrobras to Study Petrobras Distribuidora Offering
(Petrobras, 1.Jul.2015) – Petrobras’ Executive Board, at a meeting held on 30.Jun.2015, authorized studies to be prepared analyzing strategic alternatives for its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR). Among the […]
S&P Maintains Ecopetrol Credit Rating
(Ecopetrol S.A., 1.Jul.2015) – Ecopetrol S.A. reported that the credit rating agency Standard & Poor’s has maintained Ecopetrol’s long term corporate credit rating at BBB with a stable outlook. S&P’s […]
Pemex Cogeneration And Services BODs Installed
(Pemex, 30.Jun.2015) – The organic statute containing the organization and functions of the new productive state¬-owned subsidiary Pemex Cogeneration and Services was approved during the installation session of the Board […]
Petrobras to Spend $130.5 Bln Between 2015-2019
(Petrobras, 29.Jun.2015) – On 26.Jun.2015, the Board of Directors of Petrobras approved the 2015–2019 Business and Management Plan. The plan earmarks investments of $130.3 billion for 2015-2019. The investment portfolio […]
Swire Secures Contract with Weatherford Brazil
(Swire Oilfield Services, 29.Jun.2015) – Swire Oilfield Services secured an exclusive five year contract with Weatherford International plc in Brazil. “This is a great reward for the team’s efforts in […]
Petrobras Updates on NY Lawsuit
(Petrobras, 25.Jun.2015) – Petrobras announced that on 25.Jun.2015, a hearing was held before the federal court in New York regarding the motion to dismiss presented by Petrobras in the class […]
Moody’s Maintains Ecopetrol Rating at Baa2
(Ecopetrol S.A., 25.Jun.2015) – Ecopetrol S.A. reported that the credit rating agency Moody’s Investors Service has maintained Ecopetrol’s long term international rating at Baa2 with a stable outlook. Moody’s mentioned […]
Ecopetrol Presents Details of Distribution Proposal
(Ecopetrol S.A., 24.Jun.2015) – Ecopetrol S.A. at the direction of the Finance Superintendence, hereby publishes the earnings distribution proposal that was approved by the Shareholders Assembly of 26.Mar.2015. Accordingly, regarding […]
Gran Tierra Announces CAPEX, Colombia Focus
(Gran Tierra Energy Inc., 24.Jun.2015) – Gran Tierra Energy Inc. announced an increased 2015 capital program. The increased capital is intended to provide accelerated development drilling at the company’s core […]
Moody’s Affirms Ecopetrol Rating
(Moody’s, 23.Jun.2015) – Moody’s affirmed Ecopetrol S.A.’s Baa2 ratings and assigned a Baa2 rating to the company’s up to $1.5 billion in proposed notes due 2026. The proposed securities are […]
Moody’s Changes PBF Rating Outlook
(Moody’s, 22.Jun.2015) – Moody’s Investors Service changed PBF Holding Company LLC’s rating outlook to positive from stable. Moody’s also affirmed PBF’s Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default […]
Fitch Affirms Ecopetrol Ratings
(Ecopetrol S.A., 22.Jun.2015) – Fitch Ratings affirmed Ecopetrol S.A.’s foreign and local currency Issuer Default Ratings at ‘BBB’ and ‘BBB+’, respectively. Concurrently, Fitch has affirmed the company’s national scale short […]
Pemex Attends Contingency at Akal-H Platform
(Pemex, 22.Jun.2015) – Specialized Pemex staff is taking care of the oil and gas leakage incident that occurred in the satellite platform Akal-H in the Campeche Sound. Fortunately, there are […]
Harvest Announces $32.2 Mln Funding
(Harvest Natural Resources, Inc., 19.Jun.2015) – Harvest Natural Resources, Inc. announced that CT Energy Holding SRL, a Venezuelan-Italian consortium, has agreed to purchase from Harvest senior secured notes, convertible notes […]
Harvest Enters Relationship with CT Energy
(Harvest Natural Resources, Inc., 19.Jun.2015) – On 19.Jun.2015, Harvest Natural Resources, Inc. entered into a strategic relationship with CT Energy and CT Energia Holding, Ltd., an international energy trading firm, […]
Venezuela Eyes Gas Exports, LNG
(Energy Analytics Institute, 18.Jun.2015) – Petroleos de Venezuela SA (PDVSA) plans to boost investments in the Venezuelan natural gas sector over the next five years in order to almost double […]
ExxonMobil Sells Share of Chalmette Refinery in Louisiana
(Exxon Mobil Corporation, 18.Jun.2015) – ExxonMobil reached an agreement with PBF Energy Inc. for the sale and purchase of its 50% interest in Chalmette Refining, LLC in Chalmette, Louisiana. “This […]
Pemex, STPRM Review Collective Labor Deal
(Pemex, 16.Jun.2015) – Petróleos Mexicanos (Pemex) and the Petroleum Workers’ Union (STPRM, Sindicato de Trabajadores Petroleros de la República Mexicana, for its acronym in Spanish) started negotiations for the revision […]
Introduction to IBAMA
(The Brazil Business, Renata Garcia, 16.Jun.2015) — IBAMA is an institute that was created to ensure the preservation and maintenance of the environment. It acts in the protection of Brazilian […]
Environmental Protection Key Pemex Element
(Pemex, 14.Jun.2015) – Maintaining or improving competitiveness in the oil industry will increasingly require a better environmental performance. Therefore, environmental protection is currently one of the key elements in the […]
Petrobras Comments on FPSO Cidade de São Mateus
(Petrobras, 12.Jun.2015) – Petrobras completes analysis of factors that contributed to accident on 11.Feb.2015, on board FPSO Cidade de São Mateus, in EspÃrito Santo. The report is aimed at documenting […]
Petrobras Set Record Pre-Salt Production
(Petrobras, 12.Jun.2015) – Petrobras’ pre-salt production in May set two new monthly output records. Production handled by the company, including both Petrobras and partner production, reached a new high of […]
Pemex Finds New Oil Deposits in GOM
(Pemex, 10.Jun.2015) – Emilio Lozoya, CEO of Petróleos Mexicanos, announced the first hydrocarbon discoveries made took advantage of the new tools provided by the Energy Reform. This is the first […]
Mexican Petroleum Congress Opens
(Pemex, 10.Jun.2015) – The Ministry of Energy (SENER), Pedro JoaquÃn Coldwell, opened the 10th Mexican Petroleum Congress at the Guadalajara Expo, which brought together 270 national and international companies with […]
Pemex, Blackrock Sign MOU to Develop Infrastructure
(Pemex, 6.Jun.2015) – Petróleos Mexicanos and BlackRock signed a Memorandum of Understanding (MOU), in order to accelerate the development and financing of energy infrastructure projects that are considered a strategic […]
Petrobras Aims to Gas Reduce Faring by 60%
(Petrobras, 5.Jun.2015) – Brazil is now among the countries that best use their natural gas output. By significantly reducing gas flaring on its platforms, in Feb.2015 Petrobras achieved a record […]