(GeoPark, 15.May.2024) â GeoPark Limited (NYSE: GPRK) reports its consolidated financial results for the three-month period ended 31 Mar. 2024 (âFirst Quarterâ or â1Q2024â). A conference call to discuss these financial results will be held on 16 May 2024, at 10:00 am (Eastern Daylight Time). FIRST QUARTER 2024 SUMMARY In […]
Category: Latin America and the Caribbean
3R PETROLEUM Clarifies News Published in Pipeline Valor
(3R, 15.May.2024) â 3R PETROLEUM ĂLEO E GĂS S.A.(B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44, hereby, in reference to the news published by Pipeline Valor, on this date, under the title “3R and Enauta conclude merger and call shareholders’ meeting”, provide the following clarifications: — […]
Interest Remains in Mexico’s Oil and Gas
(S&P, 15.May.2024) â There is still a lot of private and international interest in developing the oil and natural gas resources in Mexico despite the shift towards state control by President Andres Manuel Lopez Obrador, panelists said during an energy and infrastructure forum May 14-15. However, if Mexico again opened […]
Lula Fires Petrobras CEO Prates After Dividend Dispute
(Bloomberg, 15.May.2024) â Shares of Brazilâs state-owned oil company Petroleo Brasileiro SA declined after President Luiz Inacio Lula da Silva fired Chief Executive Officer Jean Paul Prates following a dispute over dividend payments. Pratesâs dismissal was confirmed late Tuesday by people familiar with the matter, who asked not to be identified discussing private matters. Petrobras, […]
Petrobras on Official Letter from Ministry of Mines and EnergyÂ
(Petrobras, 14.May.2024) â Petrobras informs that it has received Official Letter No. 214/2024/GM-MME, through which the Ministry of Mines and Energy (MME), after being informed of Mr. Jean Paul Prates’ request for early termination of his term as CEO of Petrobras through negotiation and, if approved, his intention to subsequently […]
Petrobras on its CEO Jean Paul Prates
(Petrobras, 14.May.2024) â Petrobras informs that it received this evening from its CEO, Mr. Jean Paul Prates, a request that the company’s Board of Directors meet to consider the early termination of its mandate as CEO of Petrobras in a negotiated manner. Additionally, Jean Paul informed that, if and once […]
Poland Hunts for $330mn of Orlen Payments for Venezuela Oil
(Reuters, 14.May.2024) â A Swiss unit of Polish refiner Orlen paid two Dubai-based intermediary companies $330 million for Venezuelan oil, but Venezuela’s state oil company PDVSA never received the money, according to sources and a document seen by Reuters. Prosecutors in Poland are investigating the loss of about $400 million […]
Aris Mining Results Boosted by Segovia Project
(Aris Mining, 14.May.2024) â Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) announces its full financial and operating results for the three months ended 31 Mar. 2024 (Q1 2024). Aris Mining previously released Q1 2024 production results and announced that it is on track to deliver full-year 2024 guidance while its expansion projects advance […]
GeoPark on Acquisition in Argentina
(GeoPark, 13.May.2024) â GeoPark Limited (NYSE: GPRK) signed an Asset Purchase Agreement with Phoenix Global Resources (PGR), a subsidiary of Mercuria Energy Trading, for the acquisition of non-operated working interest (WI) in four adjacent unconventional blocks in the NeuquĂ©n Basin in Argentina as follows: a 45% WI in each of the […]
Petrobras on Remuneration to Shareholders
(Petrobras, 13.May.2024) â Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of interim dividends and interest on own capital in the amount of R$13.45bn, equivalent to R$ 1.04161205 per outstanding common and preferred share, in anticipation of the remuneration to shareholders for the […]
Petrobras Reports 1Q:24 Financial Performance
(Petrobras, 13.May.2024) â In 1Q:24, Petrobras said its net revenue fell 12% compared to 4Q23, mainly influenced by lower revenue from diesel sales in the domestic market and exports. The reduction in revenue from oil products in the domestic market was mainly due to lower prices, the seasonality of consumption, […]
Petrobras Release 1Q:24 Tax Report
(Petrobras, 13.May.2024) â Petrobras reported a 9% increase in tax payments in the first quarter of 2024 when compared to the same period of 2023, driven by higher ICMS (VAT) collection. A total of R$68.2bn was collected by the government from January to March 2024. This amount includes taxes due […]
Ecopetrol Calls Holders of Domestic Public Debt for Ordinary Bondholders Meeting
(Ecopetrol, 10.May.2024) â Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, in light of the statutory reform approved by its Shareholders’ during their ordinary meeting held on 22 Mar. 2024, its local bondholders are summoned to consider said reform, in compliance with Colombian regulations applicable to securities issuers, particularly Article 6.4.1.1.42 of Decree […]
YPF Reveals 1Q:24 Results
(YPF, 10.May.2024) â YPF SA said it achieved a new quarterly record high in operational efficiencies, delivering positive evolution in shale oil production. YPF also released its Form 20-F. ____________________
Citgo Petroleum Reports 1Q:24 Results
(Citgo, 9.May.2024) â Citgo Petroleum Corporation reported its 2024 first quarter financial and operational results. Historically favorable refining margins and strong asset reliability led to first quarter net income of $410mn, EBITDA of $709mn and Adjusted EBITDA of $677mn, compared with net income of $937mn and EBITDA of approximately $1.4bn(2) for the first quarter of 2023. (1) EBITDA […]
GeoPark Signs New Offtake Agreement with Vitol for the Llanos 34 Block in Colombia
(GeoPark, 9.May.2024) â GeoPark Limited (NYSE: GPRK) announces the execution of an offtake and prepayment agreement with Vitol, one of the worldâs leading energy and commodity companies. The offtake agreement provides for GeoPark to sell and deliver to Vitol a minimum of 20,000 bopd of production from the Llanos 34 […]
Petro-Victory Reserves and Resources as of 31 Dec. 2023
(Petro-Victory Energy Corp., 9.May.2024) â Petro-Victory Energy Corp. (TSXV: VRY) announced the results of its 2023 year-end reserves evaluation by GLJ, Ltd. The company holds 100% working interest in all forty-one (41) blocks. Six (6) of the forty-one (41) blocks have reserves valuation in the report. The company continues to invest […]
New Pacific Metals Reveals Financial Results
(New Pacific Metals Corp., 7.May.2024) â New Pacific Metals Corp. reports its financial results for the three and nine months ended 31 Mar. 2024.  All figures are expressed in US dollars unless otherwise stated. FINANCIAL RESULTS Net loss attributable to equity holders of the Company for the three and nine months ended 31 Mar. […]
Vista and Nabors to Deploy Third Drilling Rig to Vaca Muerta
(Vista, 6.May.2024) â Vista Energy (NYSE: VIST) and Nabors Industries (NYSE: NBR) announced today the official signing of the contract to add a third drilling rig, aiming to accelerate VistaÂŽs development of Vaca Muerta in southern Argentina. The signing occurred at Nabors’ offices in Houston, with the participation of Juan […]
Petrobras Updates about Braskem
(Petrobras, 6.May.2024) â Petrobras informs, according to the notices to the market published on 09/18/2023, 08/22/2023, 08/14/2023 and 07/10/2023, that it is conducting due diligence on Braskem for the possible exercise of tag along or preemptive rights, in the event of the sale of the shares held by Novonor in […]
PEMEX Continues Path to Transformation
(PEMEX, 3.May.2024) â During the morning press conference held by the President of Mexico, AndrĂ©s Manuel LĂłpez Obrador, the CEO of PetrĂłleos Mexicanos (PEMEX), Octavio Romero Oropeza, described the operational, financial and administrative progress of the institution for the 2019-2024 period, as part of the strategy to achieve energy self-sufficiency. […]
Sandstorm Gold Royalties Reports 1Q:24 Results
(Sandstone Gold, 2.May.2024) â Sandstorm Gold Ltd. (NYSE: SAND) (TSX: SSL) has released its financial results for the first quarter ended 31 Mar. 2024 (all figures in U.S. dollars). First Quarter Highlights Revenue of $42.8 million (Q1 2023 â $44mn); Attributable gold equivalent ounces1 of 20,316 ounces (Q1 2023 â 28,368 ounces); Cash flows from operating activities, excluding changes […]
Touchstone on Acquisition of Trinity Exploration and Production Plc
(Touchstone, 1.May.2024) â Touchstone Exploration Inc. (TSX, LSE: TXP) has reached an agreement with Trinity Exploration and Production Plc on the terms of an all-share acquisition by which Touchstone will acquire all of the issued and to be issued ordinary share capital of Trinity. Trinity is a crude oil exploration, […]
APA Corp. Announces 1Q:24 Financial and Operational Results
(APA Corp., 1.May.2024) â APA Corporation (Nasdaq: APA) announced its financial and operational results for the first quarter of 2024. Key Takeaways Reported production of 389,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 320,000 BOE per day;Â Generated net […]
LNG Energy Group on Results, Venezuela
(LNG Group, 30.Apr.2024) â LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) announced its financial and operating results for the year ended on 31 Dec. 2023. On 15 Aug. (the âClosing Dateâ), LNG Energy Group completed the acquisition of Lewis Energy Colombia, Inc. and the financial and […]
Luca Mining Reports 1Q:24 Results
(Luca Mining, 30.Apr.2024) â Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce financial results for the three and twelve months ended 31Dec. 2023.Production Fourth Quarter 2023 Total production amounted to 11,808 ounces of gold equivalent (“AuEq”), which was comprised of 3,155 ounces of gold, 155,763 ounces of silver, […]
Frontera on 1Q:24 Conference Call
(Frontera, 30.Apr.2024) â Frontera Energy Corporation (TSX: FEC) will release its financial and operational results for the first quarter ended 31 Mar. 2024, after markets close on 8 May 2024. A conference call for investors and analysts will be held on 9 May 2024, at 2:30 p.m. Eastern Time. Participants will include Gabriel de Alba, Chairman […]
EAIâs NRGBriefs: April 2024
(Energy Analytics Institute, 30.Apr.2024) â Energy briefs as well as others related to finance and projects during April 2024 including ExxonMobil, Hess and CNOOC announcing a $12.7bn FID for their sixth project offshore Guyana dubbed Whiptail; YPF SA launching the “Andes” project to divest 55 mature conventional fields and focus […]
Petrobras Releases 1Q:24 Operational Report
(Petrobras, 29.Apr.2024) â In 1Q24, average production of oil, NGL and natural gas reached 2,776 MMboed, increase of 3.7% when comparing with the same period last year (1Q23). Among the main factors behind this variation, we can highlight the ramp-up of the FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi and […]
GoldMining Enhances Value of the Crucero Gold Project, PeruÂ
(GoldMining, 29.Apr.2024) â GoldMining Inc. (GLDG) announced that the company, through a wholly owned subsidiary, has completed a transaction with CompañĂa de Minas Buenaventura S.A.A. to reduce an existing third-party royalty on its 100% owned Crucero gold project, Peru. Highlights: The Royalty was granted by a previous operator that acquired the Project […]
Broken Promises: US Oil Sanctions and Venezuela
(Rystad Energy, 29.Apr.2024) â For President Joe Biden, the situation in Venezuela remains a fly in the ointment, weighing on the administrationâs energy and foreign policy. President Nicolas Maduro has seemingly remained impervious to either the carrot or stick handed out by the US and looks set to carry out […]
Ecopetrol Reveals Senior Management Changes
(Ecopetrol, 26.Apr.2024) â Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that the Board of Directors, at its meeting held on 26 Apr. 2024, made the following appointments in property: 1. Felipe Trujillo LĂłpez as Vice President Commercial and Marketing, effective as of this date. Dr. Trujillo has been in charge of this Vice-Presidency since 20 […]
Chevron Reveals 1Q:24 Results
(Chevron, 26.Apr.2024) â Chevron Corporation (NYSE: CVX) reported earnings of $5.5bn ($2.97/share – diluted) for first quarter 2024, compared with $6.6bn ($3.46/share – diluted) in first quarter 2023. Foreign currency effects increased earnings by $85mn. Adjusted earnings of $5.4bn ($2.93/share – diluted) in first quarter 2024 compared to adjusted earnings of […]
CNOOC Limited Achieves Strong Growth
(CNOOC, 25.Apr.2024) â CNOOC Limited (SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announced its operating results for the first quarter of 2024. In the first quarter, the company pressed ahead with oil and gas exploration and development, advanced the enhancement of quality and efficiency, and consolidated its advantage […]
Hess Reports Net Production of 190,000 boe/d from Guyana
(Hess, 25.Apr.2024) â Hess Corporation reported that is net Guyana production was 190,000 b/d in the first quarter of 2024, up 70% from 112,000 b/d in the first quarter of 2023, while net Bakken production was 190,000 boe/d, up 17% from 163,000 boe/d in the first quarter of 2023. ____________________
Petrobras and Enarsa Ink MOU for Natural Gas Studies
(Energy Analytics Institute, 25.Apr.2024) â On 18 Apr. 2024, Petrobras inked a Memorandum of Understanding (MOU) with the Argentina state energy company Enarsa to study partnerships in the natural gas segment. “The non-binding agreement has a term of three years and will allow for the exchange of information; the assessment […]
LNG Energy Inks Productive Participation Contracts in Venezuela
(LNG Energy Group, 24.Apr.2024) â LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) announced that its wholly-owned subsidiary, LNGEG Growth I Corp. (LNG Venezuela), entered into a binding agreement with PDVSA Petroleo S.A. (PPSA), a subsidiary of Petroleos de Venezuela S.A. (PDVSA), the Venezuelan national oil […]
Billionaire Texas Oilman Inks Deal with PDVSA as US Sanctions Loom
(AP, 24.Apr.2024) â A company started by a Texas billionaire oilman announced a deal Wednesday with Venezuelaâs state-owned oil company to rehabilitate five aging oil fields, days after the Biden administration put a brake on sanctions relief over concerns about the fairness of the countryâs upcoming presidential election. LNG Energy […]
Potential Sour Crude Deficit Looming in the Gulf
(BTU Analytics, 23.Apr.2024) â Historically, more than half of Mexicoâs heavy sour crude oil exports, mostly Maya blend, end up in the U.S., which is key for refining along the Gulf Coast, also known as PADD 3. However, recent reports suggest Mexicoâs national oil company, PetrĂłleos Mexicanos (Pemex), could cut […]
Petrobras Releases Details for 1Q:24 Conf. Call
(Petrobras, 22.Apr.2024) â Petrobras informs that it will release its 1Q:24 Production and Sales Report on 29 Apr. 2024, and its 1Q:24 Financial Performance Report on 13 May 2024, both after the markets close. On 14 May 2024, a webcast will be held to present the company’s results for the […]
Petrobras on Cumulative Vote Process for AGM
(Petrobras, 22.Apr.2024) â Petrobras, in compliance with article 33, item XXXIII, of CVM Resolution 80/22, informs that it received from shareholders who jointly hold more than 5% (five percent) of its common shares, the request to adopt the cumulative vote system in the election of members of Board of Directors […]
Touchstone Closes Expanded Bank Facilities
(Touchstone, 22.Apr.2024) â Touchstone Exploration Inc.‘s wholly owned Trinidadian subsidiary Touchstone Exploration (Trinidad) Ltd. has entered into the third amended and restated loan agreement with our Trinidad based lender. The amended loan agreement provides for an additional $10mn five-year non-revolving term loan facility and an increase to our existing revolving […]
Petrobras Informs about Minority Shareholders’ Nominations for Fiscal Council
(Petrobras, 22.Apr.2022) â Petrobras, following up on the communication from 20 Mar. 2024 and 3 Apr. 2024, informs that it has received correspondence from a minority shareholder holding preferred shares requesting their nomination (main) and an alternate name for the positions of Fiscal Council, as detailed below: a) Nominations for […]
G Mining Ventures and Reunion Gold Announce CombinationÂ
(G Mining, 22.Apr.2024) â G Mining Ventures Corp. (GMIN) (TSX: GMIN) (OTCQX: GMINF) and Reunion Gold Corporation (RGD) (TSXV: RGD) (OTCQX: RGDFF) entered into a definitive agreement to combine the two companies, setting the stage for the creation of a leading intermediate gold producer (the “Transaction“). All amounts are in CAD unless stated otherwise Sets the […]
Petrobras Inks MOU with Chinese Company CNCEC
(Energy Analytics Institute, 18.Apr.2024) â Petrobras inked a memorandum of understanding with the China National Chemical Energy Company (CNCEC) covering several areas, especially renewable energies and energy transition. The partnership also provides for the evaluation of potential commercial agreements in the areas of oil exploration; fertilizer production from natural gas […]
Petrobras Updates about Intermediaries of its Share Buyback Program
(Petrobras, 18.Apr.2022) â Petrobras, following up on the Material Fact disclosed on 4 Aug. 2023, informs, for the purposes of item 11 of Annex G of CVM Resolution 80/22, that it has updated the list of institutions that may act as intermediaries in the company’s Buyback Program, as indicated below: […]
US Reimposes Venezuela Oil Sanctions
(Argus, 17.Apr.2024) â The US administration today reimposed sanctions targeting Venezuela’s oil exports and energy sector investments and set a deadline of 31 May for most foreign companies to wind down business with state-owned PdV. The US decision rescinds a sanctions waiver issued last October, which allowed Venezuela to sell […]
MEEI Says OFAC GL44A Doesnât Impact Trinidadâs Amended License
(Trinidad and Tobago Ministry of Energy and Energy Industries, 17.Apr.2024) â The Office of Foreign Assets Control (OFAC), Department of Treasury of the United States Government today issued General Licence 44A which governs sanctions related to the Bolivarian Republic of Venezuela and deals with Authorizing the Wind Down of Transactions Related […]
Expiration of US Oil License to Venezuela to Impose a Ceiling on Output Growth
(Reuters, 17.Apr.2024) â The expiration of the widest U.S. license so far granted to Venezuela’s oil and gas industry will put a ceiling on the South American country’s slow crude production growth unless Washington grants enough individual authorizations to compensate, according to analysts and experts. Washington officials said on Wednesday the license […]
June Deadline set for Citgo Auction Bids
(Argus, 17.Apr.2024)Â â Bidders for Citgo‘s US refining assets have until 11 June to submit offers for the company’s 805,000 b/d of refining capacity and associated assets, with a tentative sale hearing set for 15 July. Documents filed Tuesday in the US District Court for the District of Delaware set […]