(Reuters, 12.Aug.2024) — Mexican President-elect Claudia Sheinbaum on Monday named Emilia Esther Calleja to lead state power firm Comision Federal de Electricidad (CFE), making her the first woman to hold the post. Calleja has held a number of posts at the power company over the past two decades and adds […]
Category: Latin America and the Caribbean
Petrobras Releasing Digital Tool that Stimulates Reduction in CO2 Emissions
(Petrobras, 12.Aug.2024) — The GIS CCUS Brasil platform gathers all public information on carbon capture and storage (CCUS) in Brazil on a single website. It is online and free and provides essential data to set up new projects, such as the amount of CO2 emitted, existing national infrastructure, and potential reservoirs […]
Inauguration of First Soccer Tournament in Ayacucho
(PERU LNG, 12.Aug.2024) — The Impacting Lives Social Program – Soccer inaugurated the first tournament with the support of PERU LNG. More than 320 students from 10 public schools in Vinchos and Huamanga participated, this event marks a milestone in children’s soccer in this area. Torneo Provincial de FĂştbol Impactando Vidas con […]
Borr Announces Certain 2Q:24 Preliminary Results
(Borr, 9.Aug.2024) — Borr Drilling Limited announced certain preliminary unaudited results for the quarter ended 30 June 2024. The company expects for the three months ended 30 June 2024: (i) total operating revenues of approximately $272mn, an increase of $38mn or 16% compared to the first quarter of 2024, (ii) operating income of approximately $104mn, an […]
New Fortress Reports on 2Q:24 Results, Fast LNG
(New Fortress, 9.Aug.2024) — New Fortress Energy Inc. reported its financial results for the second quarter of 2024. Summary Highlights — Adjusted EBITDA(1) of $120mn in the second quarter of 2024 — Second quarter results do not include $107mn of contracted LNG sales during the quarter, which will be included in Adjusted EBITDA and earnings […]
GoGold Releases 3Q:24 Results
(GoGold, 8.Aug.2024) — GoGold Resources Inc. announced the financial results for the quarter ending 30 June 2024. The Company generated revenue of $10.4mn (all amounts are in U.S. dollars) from the sale of 365,119 silver equivalent ounces. “During the quarter, we passed 10 years of continuous production at Parral. We constantly make efforts to optimize […]
Petrobras Reports Solid 2Q:24 Cash Generation
(Petrobras, 8.Aug.2024) — Petrobras had solid cash generation in the second quarter of 2024, reporting an Operating Cash Flow (OCF) of BRL47.2bn—higher than in the year’s first quarter. The OCF demonstrates the company’s capacity to generate resources from its regular operations, being a relevant index to assess a company’s performance. […]
Petrobras on Shareholder Remuneration
(Petrobras, 8.Aug.2024) — Petrobras informs that its Board of Directors approved, in a meeting held today, the payment of interim and intermediate dividends, as well as interest on equity (JCP), in the amount of R$13.57bn, equivalents to R$1.05320017 per outstanding common and preferred share. The proposed distribution is in line with […]
Petrobras Revises CAPEX for 2024
(Petrobras, 8.Aug.2024) — Petrobras, pursuant to CVM Resolution No. 44/21, informs that its total CAPEX projection for 2024 has been revised to a range of investments between $13.5bn and $14.5bn, considering mainly a new CAPEX for the E&P segment of $11.1bn to $12.1bn for this year. This level of investment does […]
Rice’s Baker Institute unveils Argentina Energy Sector Initiative
(Baker Institute, 8.Aug.2024) — Rice University’s Baker Institute for Public Policy announces a new initiative focused on the Argentine energy sector that will result in conferences, reports and workshops. Argentina possesses a wide range of energy resources, including the Vaca Muerta shale formation which contains the world’s second largest unconventional […]
Huasun to Showcase Solar Products at Intersolar South America, Mexico
(Huasun, 7.Aug.2024) — Huasun Energy, a manufacturer in n-type silicon-based heterojunction (HJT) solar technology, is set to return to Latin America with a notable presence at both Intersolar South America from 27-29 August 2024 and Intersolar Mexico from 3-5 Sep. 2024. The company will present the latest developments in its technology and product range of […]
Ecopetrol on Partial Redemption of $250mn Notes due 2026
(Ecopetrol, 7.Aug.2024) — Ecopetrol S.A. announces that, as part of its comprehensive debt management strategy, it will redeem U.S.$250mn of its 5.375% Notes due 2026 (the “Notes”) (CUSIP: 279158 AL3 / ISIN: US279158AL39). The outstanding balance of the Notes is U.S.$1.5bn as of the date hereof. The redemption date of the bonds […]
Sempra Reports 2Q:24 Earnings
(Sempra, 6.Aug.2024) — Sempra today reported second-quarter 2024 earnings, prepared in accordance with generally accepted accounting principles (GAAP), of $713mn, or $1.12 per diluted share, compared to second-quarter 2023 GAAP earnings of $603mn, or $0.95 per diluted share. On an adjusted basis, the company’s second-quarter 2024 earnings were $567mn, or $0.89per diluted share, compared to $594mn, or $0.94 per diluted share in […]
Luca Mining Engages Mining Contractor for Campo Morado
(Luca Mining, 6.Aug.2024) — Luca Mining Corp. has engaged Cominvi, S.A. de C.V. to carry out core mining operations at the Company’s 100% owned Campo Morado copper-zinc-gold mine located in the state of Guerrero in southwestern Mexico. Cominvi is one of the largest and most respected mining contractors in Latin America with a particular expertise in […]
Edenor Appoints Daniel Marx as Chairman, CEO
(Edenor, 6.Aug.2024) — Empresa Distribuidora y Comercializadora Norte S.A. (Edenor), the largest electricity distribution company in Argentina, announces to the investor community that the Board of Directors of the company at its meeting held today accepted the resignation of Mr. Neil Bleasdale (for personal matters) as Chairman of the Board of Directors and CEO […]
Petrobras, Findes, and Govt of EspĂrito Santo Ink Protocol for CCSÂ
(Petrobras, 6.Aug.2024) — Petrobras signed a protocol of intentions with the State Government and Federação das IndĂşstrias do EspĂrito Santo (Findes) to study CCUS and low-carbon hydrogen projects. One of the goals is to assess the feasibility of implementing a CCUS HUB and facilities to produce low-carbon hydrogen for decarbonizing the […]
ENAP On Offer Related to its Notes due 2031
(ENAP, 5.Aug.2024) — Empresa Nacional del PetrĂłleo, a state-owned enterprise organized under the laws of the Republic of Chile announced today the pricing and final results of its previously announced offer to purchase for cash its 3.450% Notes due 2031 (the “Maximum Tender Offer Notes”) upon the terms of, and subject […]
Petrobras Confirms Gas Find Offshore Colombia at Uchuva-2
(Petrobras, 5.Aug.2024) — Petrobras, following up on the release disclosed on 29 July 2022, has achieved the main target of the Uchuva-2 well, confirming the extent of the gas discovery made in 2022 with the drilling of the Uchuva-1 well. This well adds relevant information for the development of a new […]
AES Reports Record Sales with Data Center Hyperscalers
 (AES, 1.Aug.2024) — The AES Corporation reported financial results for the quarter ended June 30, 2024. “AES had another strong quarter, extending our leadership in supplying renewable energy solutions to data centers, and we are on track to meet all of our strategic and financial objectives,” said AndrĂ©s Gluski, AES President and […]
SLB OneSubsea Inks Deal with Petrobras Offshore Brazil
(SLB, 2.Aug.2024) — SLB announced a major contract award by Petrobras, following a competitive tender, to its OneSubsea™ joint venture for their standardized, pre-salt subsea production systems and related services. The scope covers the further development of two oil fields in the strategically important Santos Basin. As part of the […]
Chevron Reports 2Q:24 Earnings, to Move HQ to Houston
(Chevron, 2.Aug.2024) — Chevron Corporation reported earnings of $4.4bn ($2.43 per share – diluted) for second quarter 2024, compared with $6bn ($3.20 per share – diluted) in second quarter 2023. Foreign currency effects decreased earnings by $243mn. Adjusted earnings of $4.7bn ($2.55 per share – diluted) in second quarter 2024 compared […]
Petrobras to Acquire Undersea Equipment for Santos and Campos Basins
(Petrobras, 1.Aug.2024) — Petrobras has signed the first contract to acquire undersea equipment to start implementing the Atapu 2 and SĂ©pia 2 projects. The equipment will be installed in the Santos Basin’s pre-salt layer and the Campos Basin Roncador field. The commercial agreement was closed with the SLB OneSubsea group, and […]
PETRONAS and SIM Distribuidora to Pilot Three Fuel Stations in Brazil
(Petronas, 1.Aug.2024) — Petroliam Nasional Berhad (Petronas) launched its first brand licensing initiative in partnership with SIM Distribuidora, that will operate three pilot fuel retail stations in Brazil. Strategically positioned in key urban locations, the three Petronas-branded fuel retail stations will provide customers with convenient access to Petronas’ high performance […]
Ecopetrol on Senior Management Moves
(Ecopetrol, 31.Jul.2024) — Ecopetrol S.A. informs that the Board of Directors, in its meeting held on 31 July, 2024 adopted the following decisions: As part of the implementation of the new organizational structure, approved and announced on 6 June, the following permanent appointments were made: ____________________
APA Corp. Updates on Permian Drilling, Suriname
(APA Corp., 31.Jul.2024) — APA Corporation announced its financial and operational results for the second quarter of 2024.APA reported net income attributable to common stock of $541mn, or $1.46 per diluted share. When adjusted for items that impact the comparability of results, APA’s second-quarter earnings were $434mn, or $1.17 per diluted share. Net […]
FPSO Almirante Tamandaré Departs for Brazil from Shipyard in China
(Petrobras, 31.Jul.2024) — The Almirante TamandarĂ© platform ship left the CMHI shipyard in China on 31 July 2024, bound for the BĂşzios field. The FPSO (floating production, storage, and offloading) platform will be the first high-capacity unit to be installed in the field, with the potential to produce up to 225,000 […]
BYD Explores Canadian Auto Market Entry -Regulatory Filing
(Reuters, 30.Jul.2024) — Chinese EV maker BYD is looking to enter the Canadian automotive market, according to a regulatory document filed earlier this month, even as Canadian officials consider imposing tariffs on vehicles imported from China. Canada, following in the footsteps of the United States and the European Union, said in […]
Fitch Maintains Ecopetrol’s Rating at BB+
(Ecopetrol, 30.Jul.2024) — Ecopetrol S.A. said the credit rating agency Fitch Ratings maintained the company’s credit rating at BB+ with a stable outlook. Additionally, the agency reaffirmed the company’s national long- and short-term ratings at ‘AAA(col)’ and ‘F1+(col)’, respectively, both with a stable outlook. The rating agency highlighted Ecopetrol’s solid financial […]
Petrobras Reports 2.4% Rise in Oil and Gas Production in 12 Months
(Petrobras, 29.Jul.2024) — Petrobras ended the second quarter of 2024 (2Q24) with an average production of 2.7 million barrels of oil equivalent per day (boed), an increase of 2.4% compared to the same period last year (2Q23). The increase was driven by the ramp-up in production of the FPSOs Almirante […]
Election Results in Venezuela, Possible Routes Forward
(Rystad, 29.Jul.2024) —While the election in Venezuela may be over, the future is still not certain. There was a forgone conclusion that the incumbent government of President Nicolas Maduro may try to perpetrate some sort of electoral fraud to maintain power, and it certainly seems as though that has been […]
TotalEnergies Reports 2Q:24 Results, Eyes Suriname Block 58 FID
(TotalEnergies, 25.Jul.2024) —The Board of Directors of TotalEnergies SE, chaired by CEO Patrick PouyannĂ©, met on 24 July 2024, to approve the second quarter 2024 financial statements. On the occasion, Patrick PouyannĂ© said: “TotalEnergies generated robust financial results in the second quarter, with adjusted net income of $4.7bn and cash […]
Polls Open in Venezuelan Election That Could Lead to Seismic Shift
(AP, 27.Jul.2024) — Venezuelans are voting Sunday in a presidential election whose outcome will either lead to a seismic shift in politics or extend by six more years the policies that caused the world’s worst peacetime economic collapse. Whether it is President Nicolás Maduro who is chosen, or his main opponent, retired […]
Luca Mining Completes Construction of Tahuehueto Gold Mine
(Luca, 25.Jul.2024) — Luca Mining Corp. has completed construction of its new, 100% owned Tahuehueto gold mine located in Durango State, Mexico. Tahuehueto is a fully permitted underground operation with a 1,000 tonne per day (tpd) nameplate processing capacity. The mine was completed within budget and has been successfully producing on a […]
Repsol Reveals New Share Buyback, Updates on Venezuela
(Repsol, 26.Jul.2024) — Repsol posted net income of €1.626bn in the first half of 2024, up 14.5%, a period marked by the presentation and implementation of the 2024-2027 Strategic Update, which prioritizes shareholder remuneration and continuing financial strength, and consolidates the company’s multi-energy commitment. Repsol announced today a new share buyback and […]
Pemex Reports 2Q:24 Financial, Operational Results
(Pemex, 26.Jul.2024) — Regarding financial results, Pemex reported a net loss of MXN 255.9bn was obtained in 2Q:24, MXN 281.4bn lower than the net profit of MXN 25.4bn obtained in 2Q23. The 10.2% depreciation of the peso against the dollar during 2Q:24 had a negative impact, resulting in an exchange loss […]
Touchstone on All Share Offer for Trinity
(Touchstone, 25.Jul.2024) — Touchstone Exploration Inc. notes the announcement made yesterday by Trinity Exploration and Production Plc. regarding a possible cash offer for Trinity (the “Possible Offer”), and the decision by the board of directors of Trinity (the “Trinity Board”) to reschedule the Court Hearing to 23 Aug. 2024. Capitalised terms […]
Petrobras Sells Bunker Fuel with Renewable Content
(Petrobras, 25.Jul.2024) — This week, Petrobras sold a marine fuel with renewable content (the VLS B24) to supply ships off the Brazilian coast. Petrobras is the country’s first company to deliver a bunker to the market with 24 % second-generation biodiesel (produced from agro-industrial waste). The commercial operation reinforces Petrobras’ strategy of […]
In Gas-rich Venezuela, Next President Faces Problem of Producing It
(Reuters, 24.Jul.2024) — Griselda Ascanio keeps an improvised wood-burning stove ready in her backyard in Maracay, 120 kilometers (75 miles) from Venezuela’s capital, for the frequent gas-supply interruptions that make it difficult to cook. “We cannot just cry about it,” said the 44-year-old administrator, who collects branches that fall from trees. “So […]
IsoEnergy Announces Strategic Sale of its Argentina Portfolio
(IsoEnergy, 22.Jul.2024) — IsoEnergy Ltd. has completed the sale (the “Transaction“) to Jaguar Uranium Corp. of 100% of the issued and outstanding shares (the “Target Shares“) of a wholly-owned subsidiary of IsoEnergy, which holds, indirectly, a 100% interest in the Laguna Salada Project located in Chubut and the Huemul Project located […]
Petrobras Reveals Redemption Price for 4.750% Global Notes due 2025
(Petrobras, 24.Jul.2024) — Petrobras announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) has delivered notices to the holders of the outstanding 4.750% Global Notes due 2025 (the “Notes”) announcing the redemption price for the Notes. As previously announced, the redemption date for the Notes will be 29 July 2024 […]
Woodside Reports 2Q:24 Results
(Woodside, 23.Jul.2024) — Woodside Energy reported quarterly production of 44.4 MMboe (488 Mboe/day), down 1% from Q1 2024 due to planned maintenance activities, weather impacts at North West Shelf and unplanned outages at Wheatstone and Julimar, partly offset by higher seasonal demand at Bass Strait and first oil at Sangomar. Full […]
New Fortress Closes $700mn Loan for Second FLNG Unit
(New Fortress, 17.Jul.2024) — New Fortress Energy Inc. announced that after successfully producing LNG at its first FLNG unit (“FLNG 1”), the company has closed its previously announced $700mn loan for its second FLNG unit (“FLNG 2”). Now operational, FLNG 1 expects to deliver its first cargo in August and enter […]
Woodside to Acquire Tellurian: Transcript
(Woodside, 22.Jul.2024) — Woodside Energy Group Limited held an investor call to discuss its $900mn all-cash acquisition of Tellurian, Inc., which is developing Driftwood LNG. ____________________
Frontera Energy announces agreement between Puerto Bahia and GASCO
(Frontera, 22.Jul.2024) — Frontera Energy Corporation announced that its subsidiary, Sociedad Portuaria Puerto BahĂa S.A. and Gasco Soluciones LogĂsticas y EnergĂ©ticas S.A.S. have entered into a Framework Collaboration Agreement to jointly pursue a liquified petroleum gas (LPG) project at Puerto Bahia’s state-of-the-art liquids and dry cargo port terminal strategically located in the […]
Petrobras and Braskem Complete Tests for Renewable Content Chemical Product
(Petrobras, 19.Jul.2024) — Petrobras has successfully finished a series of industrial-scale tests to produce a Light Hydrocarbon Stream (LHR) rich in ethylene, incorporating renewable content. Over the past year, this project, in collaboration with Braskem, has developed a viable renewable raw material for the chemical industry. The tests used ethanol derived from […]
Petrobras Updates on Reimbursement from Partners
(Petrobras, 19.Jul.2024) — Petrobras, following up on the release disclosed on 17 June 2024, informs that obtained the approval of partners in E&P consortiums for reimbursement to Petrobras related to adherence to the PGFN-RFB 6/2024 Transaction Public Notice (tax disputes of significant and widespread legal controversy). As previously reported, several Petrobras partners […]
Ecopetrol Informs of Ongoing Negotiations with Occidental
(Ecopetrol, 19.Jul.2024) — Ecopetrol S.A. informs that it is engaged in conversations with Occidental Petroleum Corp. (OXY) oriented to consider the potential acquisition by Ecopetrol of a certain percentage of assets owned by CrownRock, a company located in the United States. The percentage of the assets and the price that Ecopetrol would […]
Exxon plans new Guyana oil project to lift output into 2030s
(Bloomberg, 18.Jul.2024) — Exxon Mobil Corp. took the first step toward its seventh oil project in Guyana, a clear signal the supermajor intends to expand crude output from the South American nation into the next decade. The Hammerhead project will pump as much as 180,000 barrels a day as soon as […]
QatarEnergy Boosts Participation Offshore Suriname
(QataEnergy, 18.Jul.2024) — QatarEnergy signed an agreement with Chevron to acquire a 20% working interest in a production sharing contract for block 5 offshore Suriname. Pursuant to the signed agreement, Chevron (the operator) will retain a 40% interest, while Paradise Oil Company, an affiliate of Suriname’s national oil company “Staatsolie”, will […]
World Bank Releases Report on Offshore Wind in Brazil
(World Bank, 17.Jul.2024) — The World Bank Group released a study on “Scenarios for Offshore Wind Development in Brazil”  conducted by DNV, the global independent energy expert and assurance provider. This report is one of a series of offshore wind roadmap studies commissioned by the World Bank Group (WBG) under its Offshore […]