(Energy Analytics Institute, 4.Oct.2024) — Ecopetrol SA president Ricardo Roa has analyzed the natural gas deficit in Colombia and stressed that the reactivation of Venezuelan gas imports could be a feasible solution, as long as Repsol SA provides the supply. During the VII Oil, Gas and Energy Summit, Roa mentioned […]
Category: Latin America and the Caribbean
LatAmNRG matters, highlights, heard: Argentina LNG, $7.3bn Amber-Citgo deal
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 4.Oct.2024, Words: 423) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian energy giant Petronas, which has generated a ton of noise in recent wks about its rumored departure from […]
Petrobras and Ternium to Supply Gas in the Rio de Janeiro Free Market
(Petrobras, 3.Oct.2024) — Petrobras and Ternium entered into a contract to supply natural gas in the free trading environment to the Ternium plant in Rio de Janeiro (RJ). This agreement marks Ternium’s migration from the captive market to the free market in Rio de Janeiro, where it relies on a […]
Petrobras says Uchuva-1/Uchuva-2 gas potential is around 6 Tcf
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 3.Oct.2024) — Petrobras, following up on the announcements issued on 29 Jul. 2022 and 5 Aug. 2024 on the extension of the gas discoveries in the Uchuva-1 and Uchuva-2 wells, renamed Sirius-1 and Sirius-2, says the gas potential in the discoveries is […]
Moody’s Raises Petrobras’ Outlook to Positive
(Energy Analytics Institute, 2.Oct.2024) — Moody‘s raised the outlook on Petrobras‘ ratings from stable to positive, Petrobras announced 2 Oct. 2024 in an official statement. The rating agency also reaffirmed Petrobras’ credit rating at “Ba1”, reflecting the Brazilian company’s solid credit metrics, positive track record of operational and financial improvement […]
Gold Fields Taps ExoSphere To Advance Exploration at Salares Norte in Chile
(Fleet Space, 2.Oct.2024) — Fleet Space Technologies, an Australian space exploration company, announced plans to deploy its end-to-end mineral exploration solution, ExoSphere, to enhance Gold Fields’ data-driven exploration and development of their Salares Norte project in Northern Chile. ExoSphere will be used to generate 3D subsurface imaging of the Brecha […]
Idea of Colombia Importing Gas from Venezuela ‘Big Distraction,’ Ex-minister Says
(Reuters, 2.Oct.2024) — Debate in Colombia over the possibility of importing gas from Venezuela “has been a big distraction” amid concerns about Colombia’s future energy self sufficiency, former minister of mines and energy Tomas Gonzalez said on Wednesday. Colombia’s government and majority state-owned energy company Ecopetrol have repeatedly floated importing […]
Sheinbaum Keeps Morning Briefings, Though her Style is Unlike AMLO’s
(AP, 2.Oct.2024) — Mexico’s new President Claudia Sheinbaum started her day Wednesday much like her political mentor, ex-President Andrés Manuel López Obrador, began most of his: with an early morning news briefing from the National Palace. López Obrador’s news briefings, known as the “mañaneras,” were marathon affairs, featuring folksy dialogue, […]
Talos Adopts Limited Duration Stockholder Rights Plan
(Talos, 1.Oct.2024) — Talos Energy Inc. announced that its Board of Directors has adopted a limited duration stockholder rights plan (the “Rights Plan”). The Rights Plan is effective immediately and will expire on 1 Oct. 2025, unless approved by Talos stockholders at the company’s next Annual Meeting. The Board may […]
Canadian Solar to Deliver Storage Solutions to the Huatacondo Project in Chile
(Canadian Solar Inc., 1.Oct.2024) — Canadian Solar Inc. announced that e-STORAGE, which is part of the company’s majority-owned subsidiary CSI Solar Co., Ltd., has secured a turnkey EPC contract to supply a 98 MW/312 MWh DC Battery Energy Storage System (BESS) to the Huatacondo project in Chile. The project, developed by Sojitz Corporation […]
New Pacific Metals Delivers Strong Economics for Carangas
(New Pacific, 1.Oct.2024) — New Pacific Metals Corp. reported the results of its Preliminary Economic Assessment (PEA) for the Carangas project in Oruro Department, Bolivia. The PEA is based on the Mineral Resource Estimate (MRE) for the project, which was reported on 5 Sep. 2023, and prepared in accordance with National Instrument 43‐101- Standards […]
Citgo Share Auction Creditors Oppose Terms of Amber Energy Bid
(Reuters, 1.Oct.2024) — Creditors seeking proceeds from an auction of shares in a parent of Citgo Petroleum to repay them for Venezuela’s expropriations and debt defaults on Tuesday widely criticized terms of a conditional offer selected in the U.S. court’s second bidding round. An Elliott Investment Management affiliate on Friday was named […]
TotalEnergies takes $10.5bn FID for GranMorgu development on Suriname’s block 58
PARAMARIBO, SURINAME (TotalEnergies, 1.Oct.2024, Words: 800) — Patrick Pouyanné, Chairman and CEO of TotalEnergies, met in Paramaribo with His Excellency Chandrikapersad Santokhi, President of the Republic of Suriname, and Annand Jagesar, CEO of Staatsolie Maatschappij Suriname N.V., Suriname’s national oil company, to announce the final investment decision (FID) for the […]
APA Takes $10.5bn FID for First Oil Development Offshore Suriname
(APA, 1.Oct.2024) — APA Corporation’s subsidiary has reached a positive final investment decision (FID) for the first oil development in Block 58, located offshore Suriname. The project has been named GranMorgu, which is derived from a local language and means both “new dawn” and “goliath grouper.” Highlights: GranMorgu will include […]
Ecopetrol Appoints Hurtado as Upstream VP
(Energy Analytics Institute, 1.Oct.2024) — Colombian state-owned Ecopetrol S.A. announced Juan Carlos Hurtado Parra as Vice President of the Upstream segment. The appointment has been made as part of the implementation of the new organizational structure announced on 6 Jun. 2024, Ecopetrol announced 1 Oct. 2024 in an official statement. […]
MEEI Grants PSC for Block Modified U (C) to BG
(MEEI, 30.Sep.2024) — The Ministry of Energy and Energy Industries (MEEI) said a negotiated Production Sharing Contract (PSC) for Block Modified U (c ) has been signed between the Trinidad and Tobago government and the successful bidder, BG International Limited (BGI), a subsidiary of Shell. The signing took place on […]
New Fortress Sends Off First Full Cargo from Altamira
(Energy Analytics Institute, 30.Sep.2024) — New Fortress Energy Inc. announced that its Fast LNG (FLNG) asset located offshore Altamira, Mexico has achieved First Full Cargo & Sail Away. The first full LNG cargo fully loaded onto the Energos Princess and setting sail for Europe, New Fortress said 30 Sep. 2024 […]
EAI’s NRGBriefs: Sep. 2024
(Energy Analytics Institute, 30.Sep.2024) — Energy briefs as well as others related to finance and projects during Sep. 2024 including Petrobras inking separate MOUs with its Argentine and Surinamese counterparts YPF and Staatsolie; TechnipFMC being awarded two subsea contracts by Petrobras; CNOOC Limited saying the Shenhai-1 Phase II Natural Gas Development […]
Hess gets HSR clearance for Chevron merger
NEW YORK CITY, NEW YORK (Hess Corp., 30.Sep.2024, Words: 381) — Hess Corporation announced that the Federal Trade Commission (FTC) antitrust review of the Chevron-Hess merger has been completed, satisfying one of the closing conditions for the transaction. “We are very pleased that our merger with Chevron has cleared this significant regulatory hurdle,” said CEO John Hess. […]
Exxon Director Joins Elliott Seeking to Acquire Citgo Petroleum
(Reuters, 28.Sep.2024) — Exxon Mobil board director Gregory Goff recently joined a newly formed Elliott Investment Management-backed company seeking to acquire control of Venezuela-owned oil refiner Citgo Petroleum. Citgo and Exxon are rivals in the motor fuels and lubrications business. Exxon is the third-largest U.S. oil refiner by capacity and […]
ConocoPhillips Gets Judge to Approve Seizing of Payments to PDVSA
(Reuters, 27.Sep.2024) — ConocoPhillips on Friday got a Trinidad court to approve the seizing of payments from the Caribbean country to Venezuela’s state oil company for a proposed offshore gas project between the two neighbors. ConocoPhillips has for years been seeking to recover money from Petroleos de Venezuela (PDVSA) for […]
Pemex Posts Drop in Oil Output as AMLO Exits
(Reuters, 27.Sep.2024) — Crude output by Pemex fell in August as Mexico’s national oil company failed to reduce fuel imports in line with company targets, while overall falling well short of the lofty energy trade goals of the country’s outgoing president. While locally produced petroleum product volumes rose during the […]
Amber Energy Selected to Acquire Citgo
(Amber Energy, 27.Sep.2024) — Amber Energy Inc. has been selected as the acquirer of PDV Holding, Inc., the parent of Citgo Petroleum Corporation, by Robert Pincus, the Special Master appointed by the U.S. District Court for the District of Delaware to oversee the sale of PDV Holding, Inc. Amber Energy is […]
MEEI Minister Young Tours PXGEO 2 Seismic Vessel
(MEEI, 27.Sep.2024) — Stuart R. Young, Minister of Energy and Energy Industries, and Minister in the Office of the Prime Minister toured the PXGEO 2 seismic vessel and met with its specialist crew on 26 Sep. 2024. This comes after cabinet approved negotiations towards a production sharing contract (PSC) between […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 27.Sep.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 27 Sep. 2024. —Argentina: Petronas is rumored to be pondering stepping back from Argentina LNG, the South American country’s initial LNG export project, leaving YPF alone to search for partners. —Brazil: Petrobras […]
Woodside Energy executives meet with MEEI officials in Trinidad
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 26.Sep.2024) — Executives with Woodside Energy provided an update to officials with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI) regarding the Australian company’s Calypso project offshore. The ‘pre-feed’ engineering work is progressing, the MEEI said 26 Sep. 2024 […]
Chevron Agrees Hess CEO Will Not Join Board in Deal with US Regulator, Bloomberg Reports
(Reuters, 26.Sep.2024) — U.S. energy major Chevron has agreed Hess CEO John Hess will not join its board in an agreement with the U.S. Federal Trade Commission to proceed with the $53 billion takeover deal, Bloomberg News reported on Thursday citing people familiar with the matter. The proposed all-stock acquisition, […]
Petrobras and Staatsolie Maatschappij Suriname N.V. Ink MOU
HOUSTON, TEXAS (Energy Analytics Institute, 26.Sep.2024) — Brazilian energy giant Petrobras signed a non-binding memorandum of understanding (MOU) with its Surinamese counterpart Staatsolie Maatschappij Suriname N.V. aimed at assessing cooperation opportunities in the areas of hydrocarbon exploration and production, carbon capture, new energy sources, contingency response planning, among others. The […]
Frontera to Amend Substantial Issuer Bid
(Frontera, 25.Sep.2024) — Frontera Energy Corporation will amend its previously announced substantial issuer bid (the “Offer”) to remove the preferential acceptance of “odd lot” tenders, which are tenders from holders (“Shareholders”) of common shares of the company (the “Shares”) who beneficially own fewer than 100 Shares. There will be no […]
Ecopetrol changes names of projects offshore Colombia
PANAMA CITY, PANAMA (Energy Analytics Institute, 24.Sep.2024) — Colombia’s state-owned Ecopetrol S.A., in compliance with the ruling issued by the Fourth Labor Court of the Santa Marta Circuit, announced it will no longer use the names “Uchuva” and “Tayrona” to refer to its offshore exploration projects in the Colombian Caribbean, […]
FTC set to greenlight Chevron’s $53bn buy of Hess
HOUSTON, TEXAS (By Reuters, 24.Sep.2024, Words: 429) — The U.S. Federal Trade Commission is expected to greenlight U.S. oil producer Chevron‘s purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil‘s challenge to the $53 billion deal as its final hurdle. The […]
YPF CEO Marín Downplays Petronas Drama
BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 24.Sep.2024) — YPF President and CEO Horacio Marín downplayed the impact of Petronas deciding not to move forward as a partner in a massive LNG facility (onshore and offshore) planned on Argentina’s Atlantic Coast. “There is no need to dramatize” the news if […]
Scala Data Centers Secures $500mn from Coatue and IMCO
(Scala Data Centers, 23.Sep.2024) — Scala Data Centers, the hyperscale sustainable data center platform in Latin America, is pleased to announce the successful completion of $500mn in structured financing. The investment includes $250mn from Coatue Tactical Solutions and $250mn from the Investment Management Corporation of Ontario (IMCO). The funds will be used to accelerate Scala’s expansion across Latin America to support the […]
Fénix Gas Field: Quick Facts
(Energy Analytics Institute, 23.Sep.2024) — France’s TotalEnergies announced the start of production from the Fénix gas field. The field is located 60 km off the coast of Tierra del Fuego in Southern Argentina, the French company announced 23 Sep. 2024 on LinkedIn. Facts and highlights about the Fénix gas field, […]
Petrobras on Payment of Remuneration to Shareholders
(Petrobras, 20.Sep.2024) — Petrobras, following up on the Material Fact of 13 May 2024 and the Communication of 11 Jun. 2024, informs that will pay today the second installment of dividends related to the balance sheet of 31 Mar. 2024. The gross amount to be distributed today corresponds to R$ […]
TotalEnergies on Production Start-up at Fenix Field Offshore Argentina
(TotalEnergies, 20.Sep.2024) — TotalEnergies announces the start of production from the Fenix gas field, located 60 km off the coast of Tierra del Fuego in Southern Argentina. The Fenix field is part of the Cuenca Marina Austral 1 (CMA-1) concession, in which TotalEnergies holds a 37.5% operated interest, alongside its partners Harbour Energy […]
Touchstone on Lapsing of Acquisition
(Energy Analytics Institute, 19.Sep.2024) — The Touchstone board of directors revealed that Trinity‘s announcement on 18 Sep. 2024 its board is seeking the permission of the Court to formally withdraw the scheme at a Court hearing which has been scheduled for 25 Sep. 2024. Notwithstanding withdrawal of the Scheme, the […]
Golden Arrow Initiates Permitting at the San Pietro Project in Chile
(Energy Analytics Institute, 19.Sep.2024) — Golden Arrow Resources Corporation has engaged the services of a Chilean environmental consultancy firm for the preparation and submission of an Environmental Impact Statement, known as a “Declaración de Impacto Ambiental (DIA)” in Spanish, for the cdompany’s flagship San Pietro Iron-Copper-Gold-Cobalt Project in Chile Golden Arrow said 19 […]
Petrobras Awards TechnipFMC Subsea Contracts by for Brazil’s Pre-Salt Fields
(Energy Analytics Institute, 19.Sep.2024) — TechnipFMC has been awarded two subsea contracts by Brazil’s state-owned Petrobras for the pre-salt fields offshore the South American country. The first award is a substantial contract—between $260mn-$500mn—to design, engineer, and manufacture riser flexible pipe. TechnipFMC will also supply associated services including packing and storage, […]
Mexican elite shun lawmakers who advanced AMLO’s judicial reform
MEXICO CITY, MEXICO (By Bloomberg, 18.Sep.2024, Words: 875) — Alejandra Chedraui was once part of Mexico City’s smart set, her wedding photos and family portraits appearing regularly in local newspapers’ society pages. Last week, she became a pariah. The reason: She was one of the lawmakers who voted for President Andres Manuel […]
Hoymiles Inaugurates Mexico Manufacturing Facility in Monterrey
(Hoymiles, 18.Sep.2024) — Hoymiles, a provider of PV & energy storage solutions, officially inaugurated its first overseas manufacturing facility in Monterrey, Mexico, marking a significant milestone in the company’s global expansion strategy. Located in the Vynmsa Industrial Park, just 6 km from the airport, the 6,700-m2 facility is equipped with comprehensive production […]
Petrobras on Media Reports on Fuel Prices
(Energy Analytics Institute, 18.Sep.2024) — Petrobras downplayed claims in the media that it has decided to reduce fuel prices. “Any adjustments to the prices of its products are made in the normal course of its business with no defined periodicity and, when there is a decision to change, the price list […]
Groete Gold Project Permit Update
(Energy Analytics Institute, 17.Sep.2024) — Gold Port Corporation revealed that the 100% owned claim group comprising the Groete Gold Copper Project has been renewed for the ensuing year by the Guyana Geology and Mines Commission. The three mining permits total 1,384 hectares and are now in effect until Jul. 2027. During this […]
Vizsla Silver Announces $65mn Bought Deal Offering
(Energy Analytics Institute, 16.Sep.2024) — Vizsla Silver Corp. has entered into an agreement with Canaccord Genuity as sole bookrunner, on behalf of itself and syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 25,000,000 common shares, at a price of $2.60 per Common Share, for […]
Petrobras on Closing of Offering of Dollar-denominated Global Notes
(Petrobras, 16.Sep.2024) — Petrobras announced (i) the settlement of the international capital markets offering of US$1bn 6.000% Global Notes due 2035 (the “New Notes and such offering, the “New Notes Offering”), issued by its wholly-owned subsidiary, Petrobras Global Finance B.V. (PGF) and (ii) the final results and settlement of the […]
FACT SHEET: US-Mexico bilateral relations
(Bureau of Western Hemisphere Affairs, 16.Sep.2024, Words: 3,670) — Mexico remains one of the United States’ closest and most valued partners, with a 2,000-mile shared border containing 47 active land ports of entry, and a shared history that has established deep cultural and people-to-people ties over 200 years of diplomatic relations. […]
Woodside Execs Visit NYSE in First Equity Market Briefing
(Energy Analytics Institute, 16.Sep.2024) — Woodside Energy completed its first North American equity market briefing at the New York Stock Exchange (NYSE) on 16 Sep. 2024, the Australian company’s CEO Meg O’Neill announced on LinkedIn. Woodside was initially listed on the NYSE in 2022 when the company merged with BHP’s […]
Ecopetrol and Petrobras ordered to halt drilling at gas well offshore Colombia
BOGOTA, COLOMBIA (Bloomberg, 13.Sep.2024, Words: 294) — A Colombian judge ordered Ecopetrol SA and Petroleo Brasileiro SA to halt the drilling of a gas well in the nation’s Caribbean waters after an Indigenous community sought legal protection. The community in the area of Taganga, near the city of Santa Marta, […]
YPF SA Announces Early Tender Results
(YPF, 13.Sept.2024) — YPF Sociedad Anónima announced the early tender results as of 5:00 p.m. (New York City time) on 12 Sept. 2024 (the “Early Tender Date”) of its previously announced cash tender offers (each a “Tender Offer” and, collectively, the “Tender Offers”) to purchase outstanding securities listed in the table below (the “Securities”) not to […]
Petrobras Updates on Favorable Arbitration
(Petrobras, 12.Sep.2024) — Petrobras informs that a favorable final arbitration award has been handed down in one of the arbitrations taking place before B3’s Market Arbitration Chamber (CAM). This arbitration was initiated by an association and was intended to be collective, trying to encompass all Petrobras shareholders who acquired shares on […]