(Petrobras, 10.Jun.2024) — Petrobras published its 2023 Sustainability Report. The document reports on progress in the company’s sustainability commitments and consolidates indicators related to environmental, social and governance (ESG) issues. This year, an ESG Panel was also published, which brings together quantitative data, including the performance of indicators following the international […]
Category: Latin America and the Caribbean
Fact sheet: Colombian coal
(National Mining Agency, 9.Jun.2024) — Approximately 92% of coal production in Colombia is extracted in open-pit mining areas in the departments of Cesar and La Guajira, with thermal coal, which in general is exported. The remaining 8% is mined mainly underground in the departments of Cordoba, Antioquia, Valle and Cauca, with thermal coal, and […]
Colombia Will Suspend Coal Exports to Israel over War in Gaza
(AP, 8.Jun.2024)) — President Gustavo Petro announced on Saturday that his country will suspend coal exports to Israel over the war in Gaza, as relations sour between two countries that were once close military and commercial allies. Petro wrote on the social media platform X that coal exports will only resume “when […]
Black & Veatch Delivers Feasibility Study for Andes Energy LNG Terminal
(Black & Veatch, 7.Jun.2024) — Global liquefied natural gas (LNG) infrastructure solutions leader Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, LNG regasification terminal and power plant. The study assessed site suitability, project design requirements, capital and operating costs, financial viability, financing options, climate resilience, […]
Petrobras Informs on Request to Convene General Meeting
(Energy Analytics Institute, 7.Jun.2024) — Petrobras´ Board of Directors decided by majority not to accept the shareholders’ requests to call an Extraordinary General Meeting (“EGM”), due to the failure to meet the requirements of subparagraph “c” of article 123 of the Law No. 6,404/1976, the state oil company said 7 […]
SBM Reserves Fast4Ward® Hull for Block 58 Development
(SBM, 6.Jun.2024) — SBM Offshore announced that, in partnership with Technip Energies, and in line with the Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading vessel (FPSO) for the development project located in the Block 58 in Suriname with TotalEnergies EP Suriname B.V., an […]
Mexico’s New President Inherits an Economy in Shambles
(Industrial Info Resources, 6.Jun.2024) — Claudia Sheinbaum, Mexico’s president-elect, will inherit “a number of headaches” when she is inaugurated later this year, a longtime observer of Mexican affairs told Industrial Info in an interview this week. Under Sheinbaum’s predecessor, Andrés Manual López Obrador, or AMLO, Mexico’s economy deteriorated significantly. Notably, […]
Petrobras and Curtiss-Wright Enter into Partnership
(Petrobras, 6.Jun.2024) — To improve the efficiency and safety of deep-water oil and gas activities, Petrobras and Curtiss-Wright have entered into a technological cooperation agreement to design a fully electric, highly reliable subsea pumping system with far less dependency on the production platform. The new equipment produced by the partnership will […]
Petrobras Approves Reactivation of Araucária Fertilizer Plant
(Petrobras, 6.Jun.2024) — Petrobras’ Executive Board approved the resumption of operating activities of fertilizer plant Araucária Nitrogenados S.A. (ANSA), a wholly-owned subsidiary of the company. The plant, located in the state of Paraná, has been mothballed since 2020. All procedures required for the reopening of the plant will be initiated […]
Israel Risks Losing Colombian Coal Supplies over Gaza War
(Bloomberg, 6.Jun.2024) — Colombia’s trade ministry is calling for a restriction on coal sales to Israel in the latest bid to isolate the Jewish state as the death toll rises in its Gaza campaign. The ministry made the recommendation to “limit” shipments of the fuel to a committee that rules […]
TotalEnergies, APA Corp. and Staatsolie Progress towards FID on Block 58
(TotalEnergies, 5.Jun.2024) — On the occasion of the 2024 Suriname Energy Oil and Gas Summit, Javier Rielo, Senior Vice President Americas, Exploration & Production for TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), and Annand Jagesar, CEO of Staatsolie Maatschappij Suriname N.V, the Suriname National Oil Company, announced several significant steps towards the Final […]
Petrobras and Sinosure Ink MOU
(Petrobras, 5.Jun.2024) — Petrobras signed a Memorandum of Understanding (MoU) with the Chinese Export Credit Agency, Sinosure. The agreement aims to evaluate investment and cooperation opportunities in low-carbon and green finance initiatives; to strengthen Petrobras’ supply chain; and to increase and facilitate trade and financial exchanges between Petrobras and Chinese […]
SEOGS: The Next Stage of Success
(SEOGS, 3.Jun.2024) — Taking place from 4-7 Jun. 2024, SEOGS will be hosted by Staatsolie under the theme: The Next Stage of Success. SEOGS is the market leading energy and offshore event in Suriname and one the largest energy events in the Caribbean attracting a regional and international audience. With the first developments on the […]
Mexico Elects Claudia Sheinbaum as its First Female President
(AP, 3.Jun.2024) — Mexico’s projected presidential winner Claudia Sheinbaum will become the first female president in the country’s 200-year history. Sheinbaum, the favored successor of outgoing President Andrés Manuel López Obrador, vowed to continue on the direction set by the populist leftist leader. But the cool-tempered scientist offers a sharp contrast in style […]
A Scientist, a Leftist and a Former Mexico City Mayor. Who is Claudia Sheinbaum?
(AP, 3.Jun.2024) — Claudia Sheinbaum, who will be Mexico’s first woman leader in the nation’s more than 200 years of independence, captured the presidency by promising continuity. The 61-year-old former Mexico City mayor and lifelong leftist ran a disciplined campaign capitalizing on her predecessor’s popularity before emerging victorious in Sunday’s vote, according to an official […]
Subsea7 Awarded Four PLSV Contracts in Brazil
(Subsea7, 3.Jun.2024) — Subsea7 announced, after a competitive tender process, the award by Petrobras of four long-term day-rate contracts for pipelay support vessels (PLSVs) commencing in 2025. The contracts have a combined value of over $1.25bn and will be recorded in the backlog in the second quarter. The contracts for Seven […]
Mitsubishi Power to Supply Technology to Support Brazil’s Largest Reliability Project
(Mitsubishi, 1.Jun.2024) — The consortium formed by Mitsubishi Power Americas, Inc. and CONSAG Engenharia – an Andrade Gutierrez company (CONSAG) – recently signed an agreement with Portocem Geração de Energia S.A. and New Fortress Energy, Inc. (NFE) for the engineering, procurement, and construction (EPC) of the Portocem Thermoelectric Power Plant […]
Petrobras on Minority Shareholder Correspondence
(Petrobras, 31.May.2024) — Petrobras has received correspondence from minority shareholders of the company requesting the convening of an Extraordinary General Meeting (“EGM”) for the election of members of the Board of Directors (“BoD”) and for the chairmanship of the BoD, under the argument that there would have been dismissal of […]
Ecopetrol Reports on Registry of Amendments of its Bylaws
(Energy Analytics Institute, 30.May.2024) — Colombia’s state-owned Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reported that the amendment to its bylaws was registered with the Chamber of Commerce of Bogotá on 29 Mar. 2024. This amendment was approved by the General Shareholders’ Assembly in an ordinary session held on 22 Mar., and […]
Subsea7 Awarded ‘Super-major’ Deal Offshore Brazil
(Subsea7, 30.May.2024) — Subsea7 announced the award of a super-major1 contract by Petrobras, after winning a competitive tender, for the development of the Búzios 9 field located approximately 180 kilometres off the coast of the state of Rio de Janeiro, Brazil, at 2,000 metres water depth in the pre-salt Santos basin. The […]
Hess Corp. Receives Stockholder Approval for Proposed $53bn Merger with Chevron
(Hess Corporation, 28.May.2024) — Hess Corporation (NYSE: HES) has received the necessary approval of its stockholders for closing the company’s merger with Chevron Corporation. At the special meeting of Hess stockholders held today, a majority of the outstanding shares of Hess common stock were voted in favor of the adoption of the […]
Major Energy Fund Buys 20% Participation in PERU LNG
(PERU LNG, 28.May.2024) — PERU LNG announces that 20% of its shares have been acquired by MidOcean Vicuna Holdings Ltd, a liquefied natural gas company managed by global energy and infrastructure investment fund EIG. “This transaction represents a significant development as it reflects confidence in PERU LNG’s strong operating fundamentals. This […]
TotalEnergies Takes FID for Atapu-2 and Sépia-2 Oil Developments
(TotalEnergies, 27.May.2024) — TotalEnergies, together with the operator Petrobras and their partners in the Atapu and Sépia consortiums, have taken the Final Investment Decision (FID) for the second development phase of Atapu and Sépia fields, located in the prolific pre-salt Santos Basin, offshore Brazil. The Atapu field has been producing since 2020 […]
Marechal Duque de Caxias in Brazil on Way to Pre-salt Layer
(Petrobras, 27.May.2024) — The platform ship Marechal Duque de Caxias arrived in Brazil on 27 May 2024, from China, heading for the Mero field in the pre-salt Santos Basin. The platform of the FPSO type (floating production, storage, and transfer unit) can produce up to 180,000 barrels of oil and compress […]
Oil tycoon gets license to continue buying asphalt from Venezuela
CARACAS, VENEZUELA (Nicolle Yapur, Bloomberg, 27.May.2024) — US energy magnate Harry Sargeant III secured a license to continue importing asphalt from Venezuela without breaching US sanctions. Oil firms that want to stay or operate in Venezuela have been applying for permits from the US Treasury after Washington reimposed sanctions last month. Texas-based […]
MODEC Updates on FPSO Errea Wittu
(Go Integrated Group, 26.May.2024) — MODEC recently announced that the keel laying for the FPSO Errea Wittu hull has been completed five weeks ahead of schedule. This is an important achievement for the vessel which will operate at the $12.7bn Uaru project, the fifth oil development in the ExxonMobil-operated Stabroek […]
Paratus Energy Services Provides 1Q:24 Trading Update
(Paratus Energy Services Ltd., 24.May.2024) — Paratus Energy Services Ltd. announced a trading update for the first quarter 2024 and updates on Paratus, its subsidiaries and associated companies (“Paratus Group” or the “Group”). Company overview Paratus Energy is the holding company of a group of leading energy services companies. The Group […]
Board of Directors Approves Election of new Petrobras CEO
(Petrobras, 24.May.2024) — Petrobras, following up on the release published on 22 May 2024, informs that its Board of Directors, at a meeting held today, appointed Magda Chambriard as a member of the Board of Directors and elected her as the company’s new CEO. Magda Chambriard took office in both positions […]
Petrobras Inks Deals for Platforms P-84 and P-85
(Petrobras, 24.May.2024) — Petrobras signed on 24 May 2024, contracts with Seatrium O&G Americas Limited to acquire the P-84 and P-85 vessel platforms. Both units will be self-owned and installed in the Atapu and Sépia fields, respectively, in ultra-deep waters of the pre-salt of the Santos Basin, with first oil date […]
New Stratus Energy to acquire production & significant development opportunity in Mexico
MEXICO CITY, MEXICO (By Fidencio Casillas, Energy Analytics Institute, 24.May.2024) — New Stratus Energy (NSE) entered into definitive agreements to acquire an initial 49% equity stake in Operaciones Petroleras Soledad S. de R.L. de C.V. (OPS), a private oil and gas company in Mexico. This deal grants NSE the exclusive […]
PEMEX Concludes Working Sessions with Suppliers
(PEMEX, 23.May.2024) — The CEO of Petróleos Mexicanos (PEMEX), Octavio Romero Oropeza, concluded a three-day round of working sessions held in Villa Hermosa, Tabasco, and in Ciudad del Carmen, Campeche, where he engaged in a direct dialogue with suppliers and contractors who maintain commercial relations with the country’s most important […]
More Private Investment Needed in Mexico to Meet Expanding Energy Demand
(WoodMac, 23.May.2024) — With a presidential election looming, Mexico is facing several energy challenges, including declining oil and gas production, a need to increase exploration activity, a high dependence on gasoline imports, a constrained power supply and public pressure to transition to renewable energy. All this is occurring as domestic demand […]
Frontera Announces Annual Meeting Results
(Frontera, 23.May.2024) — Frontera Energy Corporation (TSX: FEC) announced the results from its 2024 annual meeting of shareholders held today (the “Meeting”). ELECTION OF DIRECTORS Shareholders elected each of the nominees proposed by management as set forth in the management information circular of the company dated 4 Apr. 2024. The total number […]
Golden Arrow Updates on San Pietro Iron-Copper-Gold-Cobalt Project
(Golden Arrow, 23.May.2024) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) provided an update on its exploration activities in Chile and Argentina. Highlights: Multiple magnetite mantos that correlate with similar bodies in adjacent holes, and new specularite breccias confirmed in first drill hole of 2024 campaign at the central Rincones target, San Pietro Iron-Copper-Gold-Cobalt […]
Up to 50 Firms Seek U.S. Oil Licenses in Venezuela, Official Says
(Reuters, 23.May.2024) — The U.S. has received up to 50 requests for individual licenses from companies aiming to do business in Venezuela’s oil industry, following the expiration of a general authorization granted last year to the sector, the chief of the U.S. mission for Venezuela said late on Wednesday. The U.S. Treasury Department in mid-April […]
GoGold Presents its 2023 Sustainability Report
(GoGold, 23.May.2024) — GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) presented its fourth annual Sustainability Report that sets out the company’s performance and achievements with respect to its environmental, social and governance (ESG) practices. The company is steadfastly committed to responsible mining practices, prioritizing safety, environmental responsibility, and benefits for local communities. “We’re pleased […]
Moody’s Changes Ecopetrol’s Credit Rating to Ba1
(Ecopetrol, 23.May.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that credit rating agency Moody’s downgraded its global credit rating from Baa3 to Ba1 and changed the outlook from negative to stable. Additionally, the agency reduced the individual rating (BCA[1]) from Ba3 to B1. The decision to modify the individual rating […]
Mexico’s Presidential Front-runner Walks a Thin, Tense Line
(AP, 22.May.2024) — As she runs to replace outgoing President Andrés Manuel López Obrador, Claudia Sheinbaum is struggling to construct her own image, leaving many wondering whether she can escape the shadow of the larger-than-life incumbent. The former Mexico City mayor and frontrunner in the June 2 presidential election has had […]
Ecopetrol Reports on Investigation by Superintendency
(Ecopetrol, 22.May.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that between May 3, 2024 and May 9, 2024, the company and its subsidiaries, Cenit Transporte y Logística de Hidrocarburos S.A.S. and Oleoducto Central S.A. (Ocensa) were notified of Resolution No. 20884 of April 26, 2024, through which the Superintendency of Industry and Commerce (SIC) opened an […]
PEMEX reaffirms commitment to pay suppliers
MEXICO CITY, MEXICO (PEMEX, 22.May.2024, Words: 291) — The CEO of Petróleos Mexicanos (PEMEX), Octavio Romero Oropeza, currently on a working tour of the southeastern part of the country, is holding a series of meetings with PEMEX’s main suppliers. Besides reaffirming the institution’s commitment to ensure outstanding payments, he is […]
John Hess Personally Calls Investors to Support Chevron Deal Before Vote
(Bloomberg, 22.May.2024) — John Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter. The Hess Corp. chief executive […]
Developer Seeks Permit to Send US Gas to Mexico for LNG Exports
(Reuters, 21.May.2024) — A Mexican energy developer is seeking U.S. permission to export gas to Mexico, turn it into liquefied natural gas (LNG) and send it to countries with U.S. free-trade agreements, its filing with the U.S. Department of Energy showed. Mexico-based Gato Negro Permitium Uno and partners including Houston-based Big River […]
Glass Lewis Urges Hess Shareholders to Vote for Chevron Deal
(Hess, 20.May.2024) — Hess Corporation (NYSE: HES) announced that independent proxy voting and corporate governance advisory firm Glass, Lewis & Co. has recommended that Hess shareholders vote FOR the proposed merger with Chevron. In its report, Glass Lewis notes “the strategic and financial merits of the proposed merger are sound and reasonable” and that […]
Petrobras Ranking by Poder 360
(Energy Analytics Institute, 18.May.2024) — In 2023, Petrobras was the 4th most profitable oil company. Saudi Arabia’s Saudi Aramco remains the leader, on its own, according to Poder 360. Petrobras ranked above other oil majors, including some with higher revenues. This is the case of the British BP, the Norwegian […]
AMLO’s ‘Dream’ Pemex Refinery Hits Another Delay
(Reuters, 17.May.2024) — Mexican state energy company Pemex started sending 16,300 barrels per day (bpd) of crude oil to its new Olmeca refinery this week, less than 5% of its total capacity, internal data seen by Reuters showed, signaling another delay. President Andres Manuel Lopez Obrador had built hugely ambitious infrastructure project in his […]
GoldMining on Voting Rights
(GoldMining, 16.May.2024) — GoldMining Inc. (TSX: GOLD) (NYSE: GLDG) announced that at its annual general meeting held on 16 May 2024, all nominees listed in its management information circular dated 25 Mar. were elected as directors of the company. A quorum of 32.49% of the votes attached to the outstanding shares of the company was present in […]
U Power’s UOTTA Battery Swapping Technology to Enter the Peruvian Market
(U Power Limited, 16.May.2024) — U Power Limited recently embarked on a collaborative pilot test with a Peruvian mining firm to evaluate electric heavy-duty vehicles on an established haulage route. This venture aims to identify an efficient substitute for traditional fuel-powered trucks, offering the potential to cut energy use and reduce […]
Aris Mining on Results of Annual Meeting
(Aris Mining, 16.May.2024) — Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) reports voting results from its Annual General Meeting of shareholders held earlier today. AGM Voting Results Shareholders holding 46,147,782 shares, being 32.54% of the outstanding shares of the company were represented by proxy at the meeting. The voting results from […]
Petronas Discovery in Suriname Approaches 400 MMbbls
(Petronas, 16.May.2024) — Addressing the recent deepwater discovery by Petronas in Suriname, Mark Oberstoetter, Head of Americas (non-L48) Upstream, said “We understand Roystonea and Fusaea’s recoverable resources are approaching 400 million barrels. This could be enough to support an FPSO with an oil processing capacity of up to 100,000 b/d […]
Petronas, ExxonMobil Report Find in Suriname’s Offshore Block 52
(Petronas, 16.May.2024) — Petronas Suriname E&P B.V., a subsidiary of Petronas, has made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well in Suriname’s Block 52, located about 170 kilometres offshore and 9 kilometers east from Roystonea-1 The well was spudded in Feb. 2024 and successfully drilled […]