(Energy Analytics Institute, 20.Nov.2024) — Sociedad Química y Minera de Chile S.A. reported a net loss for the nine months ended 30 Sep. 2024, of ($524.5)mn or ($1.84) per share, compared to $1,809.5mn or $6.33 per share reported for the same period last year. Gross profit reached $1,033.3mn (29.9% of revenues) […]
Category: Latin America and the Caribbean
![Ecopetrol Presents Climate Change Report [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2024/11/iguana-source-ecopetrol.png)
Ecopetrol Presents Climate Change Report [PDF Downloads]
(Ecopetrol, 20.Nov.2024) — Ecopetrol S.A. published its fourth TCFD report covering developments from 2023 and the first-half 2024. The report highlights progress in strengthening climate-related risk and opportunity management processes through discussions on Governance, Strategy, Risks and Metrics and Targets. Consistent with international best practices, the Ecopetrol report was published […]
OPW Adds XL Vacuum-Jacketed Product for Cryogenic Market
(Energy Analytics Institute, 20.Nov.2024) — ACME Cryogenics, part of OPW Clean Energy Solutions and Dover revealed the addition of the XL Bore Vacuum-Jacketed Piping (VJP) to its portfolio of cryogenics-handling products. The new VJP has been designed to help maintain cryogenic liquid’s extremely cold temperature, prevent leaks and transfer the […]
bpTT Awarded NCMA 2 Exploration Block Offshore Trinidad
(Energy Analytics Institute, 19.Nov.2024) — bp has been awarded the NCMA 2 block offshore Trinidad & Tobago as part of the Shallow Water 2023/24 bid round that closed in May 2024. The NCMA 2 block is located approximately 30 miles off Trinidad’s north coast, bp announced 19 Nov. 2024 in […]
Lomas Bayas Partners with Ceibo to Accelerate Access to Clean Copper
(Glencore, 19.Nov.2024) — Ceibo, a clean copper extraction technology company, and Glencore‘s Lomas Bayas Mining Company entered into a partnership to deploy Ceibo’s proprietary leaching technologies that enable a more effective extraction of copper from low-grade sulfides at one of Chile’s leading mines. Lomas Bayas has validated Ceibo’s technology and […]
Argentina and Brazil sign MOU related to Vaca Muerta shale gas infrastructure
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 19.Nov.2024) — Argentina’s Economic Minister Luis Caputo and Brazil’s Energy and Mining Minister Alexandre Silveira signed a memorandum of understanding (MOU) to discuss the necessary infrastructure needed for the export of Vaca Muerta shale natural gas to Brazil. At stake is potential for […]
G20 Summit Can Provide Momentum for Sustainable Development
(China Daily, 18.Nov.2024) — With the international community increasingly at risk of being torn apart by the centrifugal force generated by the black hole at its center, Brazil making “Building a Just World and a Sustainable Planet” the priorities for the G20 Summit it is hosting in Rio de Janeiro […]
Petrobras to Host Webcast to Present Strategic Plan 2050
(Energy Analytics Institute, 18.Nov.2024) — Petrobras will hold a webcast on 22 Nov. 2024 in the presence of the company’s Executive Board of Directors (BODs) to detail its Strategic Plan 2050 and Business Plan 2025-2029, which will be submitted for approval by the same BODs. The event will be presented […]
Petrobras Reiterates Details of 2025-2029 Business Plan
(Energy Analytics Institute, 18.Nov.2024) — Rio de Janeiro-based state oil giant Petrobras reiterated that the proposal for its 2025-2029 Business Plan was deliberated by its Executive Board on 14 Nov. 2024. However, the plan will still be considered by the Board of Directors (BODs) at a meeting scheduled for 21 […]
Sheinbaum Proposes Reforestation Fund at G20 in Rio de Janeiro
(Energy Analytics Institute, 18.Nov.2024) — At the G20 Leaders Summit in Rio de Janeiro, Brazil, Mexico’s President Claudia Sheinbaum proposed establishing a fund to finance the largest reforestation program in history. This includes ‘Sowing Life,’ which mitigates global warming and reduces poverty, Sheinbaum said 18 Nov. 2024 in a post on […]
Petrobras and Yara Ink Deals for Technical Cooperation of ARLA 32
(Energy Analytics Institute, 18.Nov.2024) — Petróleo Brasileiro S.A. or Petrobras signed two agreements with Yara and Araucária Nitrogenados S.A. (ANSA) in a next step towards structuring a potential partnership within fertilizers and industrial products. The first agreement includes the commercialization by Yara of Automotive Liquid Reducing Agent (ARLA 32) produced […]
LatAm NRG matters: Mexico launches hydrocarbon sector strategy
HOUSTON, TEXAS (By Energy Analytics Institute, 15.Nov.2024, Words: 329) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 15 Nov. 2024. —Argentina: The Argentine govt changed the name of the Gasoducto Néstor Kirchner to Gasoducto Perito Moreno.
CFE Readies for Tropical Storm Sara
(Energy Analytics Institute, 15.Nov.2024) — The Federal Electricity Commission (CFE) said it has specific plans for emergency response, of which the priority is to establish the mechanisms for timely decision-making in the event of the electricity supply being affected by natural phenomena. According to the trajectory forecast and the radius […]
NASA, Peru Agree to Study Potential Sounding Rocket Campaign
(NASA, 14.Nov.2024) — NASA and Peru’s National Commission for Aerospace Research and Development (CONIDA) laid the groundwork for a potential multi-year scientific rocket launch campaign in the South American country. Both countries signed a non-binding memorandum of understanding Thursday that includes safety training, a joint feasibility study for the potential […]
Saipem inks $1.9bn contract for GranMorgu project offshore Suriname
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 14.Nov.2024, Words: 418) — Saipem has been awarded an $1.9bn EPCI contract by TotalEnergies subsidiary TotalEnergies EP Suriname B.V. for the subsea development of the GranMorgu project offshore Suriname. Saipem’s scope of work entails the engineering, procurement, supply, construction, installation, pre-commissioning and assistance […]
Ecopetrol Eyes Greater Gas Availability for Dec. 2024
(Energy Analytics Institute, 14.Nov.2024) — Bogotá-based Ecopetrol continues with efforts aimed at delivering natural gas to the Colombian market. To this end, the state-owned company plans to offer a firm 18 GBTUD of gas in additional to the 16 GBTUD announced last week, for a total of 34 GBTUD, the company […]
Citgo Petroleum Reports 3Q:24 Results
(Citgo, 14.Nov.2024) — Citgo Petroleum Corporation reported its 2024 third quarter financial and operational results. High throughput volume contributed to a third quarter net income of $66mn, EBITDA (1) of $281mn, and Adjusted EBITDA of $290mn compared with a net loss of $25mn, EBITDA of $162mn and Adjusted EBITDA of […]
Mexico to present long-term PEMEX plan
MEXICO CITY, MEXICO (By S&P, 14.Nov.2024, Words: 840) — Mexico’s new government is expected Nov. 13 to present its long-term plan for Pemex as it prepares to modify the state oil and gas company’s bylaws to streamline its operations. Pemex management has given some hints at what is to be […]
Colombian Gov’t Eager for Post-fossil Fuels Economy. But Costs are a Barrier
BOGOTA, COLOMBIA (AP, 14.Nov.2024) — Colombia’s fiery left-wing President Gustavo Petro is one of the biggest opponents of fossil fuels on the world stage today, with speeches that lump oil and coal with cocaine as his country’s “three poisons.” He’s set a goal of weaning Colombia off those fossil fuels, […]
Woodside’s Trion development cuts first steel for fabrication of FPU
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 14.Nov.2024) — Australian energy giant Woodside Energy announced the start of steel fabrication for the semi-submersible floating production unit (FPU) for its operated Trion development offshore Mexico where first oil production is slated for 2028. The first cutting of steel for the […]
Pemex lays out strategic lines for 2024-2030
MEXICO CITY, MEXICO (Pemex, 13.Nov.2024, Words: 833) — During the morning conference “las mañaneras del pueblo”, held by Mexican President Dr. Claudia Sheinbaum Pardo, Petróleos Mexicanos (Pemex) CEO Víctor Rodríguez Padilla introduced the proposed strategic lines for the company for 2024-2030 term to be implemented to strengthen the institution, as […]
Exxon, Hess and CNOOC Hit 500 MMbbls Milestone Offshore Guyana
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 13.Nov.2024) — ExxonMobil Guyana Limited and its Stabroek Block co-venturers, Hess Corporation and CNOOC reached an offshore oil production milestone of 500 million barrels of oil in under 5 years. “Our unrivaled success in developing Guyana’s oil resources at an industry-leading pace, […]
EP PetroEcuador Eyes Exports of 7,920,000 bbls
(Energy Analytics Institute, 13.Nov.2024) — Between Nov. 2024 and Jan. 2025, EP PetroEcuador looks to export 7,920,000 barrels of crude oil, generating revenues of approximately $496mn. The projected exports and revenues highlight the importance of international oil trade as a vital source of income for Ecuador, the state-owned company announced […]
GeoPark Reports Exploration Success at Confluencia Norte
(Chad Archey, Energy Analytics Institute, 12.Nov.2024) — GeoPark Limited announced the successful start of production in the Confluencia Norte Block in Rio Negro, Argentina. This marks a major de-risking achievement in GeoPark’s partnership with Phoenix Global Resources (PGR) in the Vaca Muerta formation. The Confluencia Norte Block (GeoPark non-operated, 50% […]
Touchstone Reports 3Q:24 Results (PDF Download)
(Touchstone, 13.Nov.2024) — Touchstone Exploration Inc. reported financial and operating results for the three and nine months ended 30 Sep. 2024 and updated 2024 guidance. Third Quarter 2024 Financial and Operating Highlights • Achieved average quarterly production of 5,211 boe/d (75% natural gas), a 54% increase relative to 3,391 boe/d […]
Ecopetrol Reveals 3Q:24 Results (PDF Downloads)
(Ecopetrol, 12.Nov.2024) — For the nine months of 2024 (9M24), the Ecopetrol Group has proved once again its ability to overcome challenges and turn them into opportunities through determination and resilience. Despite a defiant global environment, marked by fluctuations in international oil prices and adjustments in global supply and demand, […]
GeoPark and Hocol Confirm Finds, Exploration Progress in Llanos Basin Blocks
(GeoPark, 12.Nov.2024) — GeoPark announces the achievements made in 2024 together with its partner Hocol, a subsidiary of the Ecopetrol Group, in the joint exploration of the Llanos 86, Llanos 87, Llanos 104, Llanos 124 and Llanos 123 blocks in the Llanos basin, Colombia. Llanos 123 Block discoveries and delimitation […]
TechnipFMC bags iEPCI contract for TotalEnergies’ GranMorgu offshore Suriname
HOUSTON, TEXAS (Piero Stewart, Energy Analytics Institute, 14.Nov.2024, Words: 226) — Technology provider TechnipFMC has been awarded a major integrated Engineering, Procurement, Construction, and Installation (iEPCI) contract by TotalEnergies for its GranMorgu project on Block 58 offshore Suriname. TechnipFMC classifies a “major” contract as one with a value that exceeds […]
Copec Launches Gogoro Battery Swapping and Smartscooters in Chile
(Gogoro, 11.Nov.2024) — Gogoro Inc., involved in battery-swapping ecosystems that enable sustainable mobility solutions for cities and Copec, a Latin American energy company, announced they were launching the first two-wheel battery swapping platform and Smartscooters in Chile. “It is exciting to see the Gogoro ecosystem expanding in Latin America, first […]
Petrobras Commences Commercial Operations UPGN in Rio de Janeiro
(Energy Analytics Institute, 11.Nov.2024) — Petróleo Brasileiro S.A. (Petrobras) said the Natural Gas Processing Unit (UPGN), located at the Boaventura Energy Complex (Itaboraí, RJ) commenced commercial operation. The UPGN is currently operating with its first module, which has the capacity to process 10.5 million m³/day (MMcm/d) of gas, Petrobras revealed 11 […]
‘Micro-Documentaries’ Sound the Climate Alarm for Global South at COP29
(Rockefeller Foundation, 11.Nov.2024) — As part of Human Development, Children and Youth, Health, and Education Day at the United Nations Climate Change Conference in Baku, Azerbaijan (COP29), a new series of micro-documentaries highlighting the effects of the climate crisis and its disproportionate impact on the Global South has been released, […]
Hot Chili Adds La Verde Cu Mine to its Costa Fuego Coastal Copper Hub
(Hot Chili Limited, 11.Nov.2024) — Hot Chili Limited entered into a three-year Option Agreement to acquire a 100% interest in the historical La Verde open pit copper mine. La Verde is located in the core of the historical Domeyko mining district and lies approximately 30 km south of the company’s […]
Petrobras Starts Commercial Operation of Boaventura Energy Complex’s NGPU
(Petrobras, 11.Nov.2024) — Since 10 Nov. 2024, the Natural Gas Processing Unit (NGPU), situated at the Boaventura Energy Complex (Itaboraí, RJ), has been commercially operating its first module, which is capable of processing 10.5 million m³/day. Once the second module becomes operational, probably by the end of the year, the […]
Touchstone reports on Cascadura test well results
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 11.Nov.2024, Words: 893) — Touchstone Exploration Inc. announces the completion of Cascadura-2ST1 and Cascadura-3ST1 well testing. Highlights
LatAm NRG Matters: Highlights, Heard for the Week Ended 8 Nov. 2024
(Energy Analytics Institute, 8.Nov.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 8 Nov. 2024. —Argentina: YPF execs. met in Buenos Aires w/ the Chancellor of Hungry to discuss the Argentina LNG project. —Ecuador: Ecuador is looking to acquire 195MW from private cos. in […]
Fitch Maintains Ecopetrol’s Overall Credit Rating at BB+
(Energy Analytics Institute, 8.Nov.2024) — Fitch Ratings on 6 Nov. 2024 revealed that its was maintaining its global credit rating for Ecopetrol at BB+ with a stable outlook. However, Fitch, in a report on Ecopetrol and Colombia, downgraded the Standalone Credit Profile (“SCP”) from ‘bbb’ to ‘bbb-‘ while it affirmed the national long-term and short-term ratings of Ecopetrol at ‘AAA […]
Argentina’s YPF advances VMOS and Oldelval pipeline projects
MEXICO CITY, MEXICO (Pietro D. Pitts, Energy Analytics Institute, 8.Nov.2024) — State-owned YPF SA continues to advance various midstream projects on Argentina’s Atlantic coast, in particular the 2 tranche Vaca Muerta South (VMOS) and the Oldelval pipeline. Work on VMOS has reached the 50% mark.
YPF Reports 3Q:24 Results (PDF Downloads)
(YPF, 8.Nov.2024) — Argentine state-owned YPF SA reported third-quarter 2024 financial and operational results, including details related to shale production in Argentina, Capex, the Vaca Muerta South project, and exports to Chile. ____________________
Petrobras Comments on Shareholder Remuneration
(Petrobras, 7.Nov.2024) — Petrobras informs that its Board of Directors (CA), in a meeting held today, approved the payment of interim dividends in the amount of R$ 17.12bn, equivalent to R$ 1.32820661 per common and preferred share in circulation, as an anticipation of the remuneration to shareholders related to the […]
Petrobras Reveals 3Q:24 Financial Performance (PDF Download)
(Petrobras, 7.Nov.2024) — Petrobras Chief Financial and Investor Relations Officer Fernando Melgarejo commented on the Brazilian company’s financial performance in the third-quarter 2024. “In this third quarter of 2024, we achieved consistent financial results amid a context of declining Brent prices, which we were able to offset with higher sales […]
APA Eyes Impressive Production Ramp-up Offshore Suriname
(Energy Analytics Institute, 6.Nov.2024) — APA Corporation has entered the development phase of its large-scale GranMorgu oil project offshore Suriname in Block 58 where the company says there are additional exploration opportunities. “We also achieved an important milestone in Suriname with the announcement of GranMorgu, the first offshore development in […]
Frontera Reports 3Q:24 Results, Updates on LatAm Portfolio (PDF Download)
(Frontera, 6.Nov.2024) — Frontera Energy Corporation reported financial and operational results for the third quarter ended 30 Sep. 2024. All financial amounts in this news release are in United States dollars, unless otherwise stated. Gabriel de Alba, Chairman of the Board of Directors, commented: “Frontera remains focused on the execution […]
CFE eyes investments of $23.4bn between 2024-2030
MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 6.Nov.2024) — Mexico’s Federal Electricity Commission (CFE) has its eyes set on a historic investment of $23.4bn between 2024-2030, according to the state-owned agency’s head Emilia Esther Calleja. The details were reveal 6 Nov. 2024 by Esther her participation in an early morning […]
Petrobras Ends Petrobras Biocombustível (PBio) Divestment Project
(Energy Analytics Institute, 6.Nov.2024) — Petrobras‘ Executive Board approved the end of the divestment project of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBio), which will be retained within the company’s portfolio. This decision is in line with Petrobras’ current strategic guidelines which takes into account the company’s low-carbon businesses, profitably […]
APA Corp. Reveals 3Q:24, Comments on Suriname, Permian
(APA, 6.Nov.2024) — APA Corporation announced its financial and operational results for the third quarter of 2024. Key Takeaways APA reported a loss attributable to common stock of $223mn or $0.60 per diluted share, which was primarily driven by non-cash impairments of assets in the U.K. and assets held for […]
Sempra Says ECA LNG Progressing, to Start in Spring 2026
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 6.Nov.2024) — Sempra Infrastructure and its Mexican subsidiary, Infraestructura Energética Nova (IEnova), continue to move forward with Energía Costa Azul (ECA) LNG Phase 1. Sempra Infrastructure said that construction at ECA LNG Phase 1 has progressed, and commercial operations are still slated […]
Sempra Sees Completion of Rosarito Expansion Pipeline in 4Q:24
(Energy Analytics Institute, 6.Nov.2024) — Sempra Infrastructure said the long-awaited Gasoducto Rosarito Expansion Pipeline (GRO by its Spanish acronym) is expected to reach commercial operations in the fourth-quarter 2024 (4Q:24). GRO will support natural gas supply to Energía Costa Azul (ECA) LNG Phase 1, Sempra announced 6 Nov. 2024 in […]
Sempra Reports 3Q:24 Results (PDF Download)
(Sempra, 6.Nov.2024) — Sempra reported third-quarter 2024 earnings, prepared in accordance with generally accepted accounting principles (GAAP), of $638mn, or $1 per diluted share, compared to third-quarter 2023 GAAP earnings of $721mn, or $1.14 per diluted share. On an adjusted basis, the company’s third-quarter 2024 earnings were $566mn, or $0.89 […]
Borr Drilling Reveals 3Q:24 Results
(Borr Drilling, 6.Nov.2024) — Borr Drilling Limited announced unaudited results for the three and nine months ended 30 Sep. 2024. Highlights CEO, Patrick Schorn commented: “The operational performance in the third quarter was solid, with a technical utilization rate of 98.7% and an economic utilization rate of 96.9%. As expected, […]
ANALYSIS: Mexico and Canada aim to step up LNG efforts
HOUSTON, TEXAS (By Pietro D. Pitts, Energy Analytics Institute, 5.Nov.2024, Words: 750) — It’s another landmark moment for North American energy. That is, after Mexico shipped its madden LNG cargo this summer from a facility in Altamira, Mexico off the Atlantic coast. That shipment officially propelling the Latin American country […]