(Petrobras, 17.Apr.2024) — Petrobras said its Executive Board approved the sale of its entire stake in the Cherne and Bagre fields, located in shallow waters in the Campos Basin, to Perenco PetrĂłleo e Gás do Brasil Ltda. Production from the two fields was interrupted in March 2020 and the respective […]
Category: Latin America and the Caribbean
OFAC Issues GL44A to Replace GL44 in Venezuela
(Energy Analytics Institute, 17.Apr.2024) — The U.S. Office of Foreign Assets Control (OFAC) issued General License 44A, which supersedes and replaces General License 44, and authorizes the wind down of transactions related to oil or gas sector operations in Venezuela. ____________________ By Piero Stewart. © Energy Analytics Institute (EAI). All […]
Negotiations Fail to Renew Venezuela Sanctions Relief License
(S&P Global, 17.Apr.2024) — A few hours before the expiration of a temporary oil and gas sanctions relief license, the governments of Venezuela and the United States continue to negotiate without success its renewal under the requirement of holding competitive presidential elections on July 28, Venezuelan officials said. “Today at […]
Judge Suspends Effects of Petrobras Board Member Suspension
(Energy Analytics Institute, 16.Apr.2024) — Brazilian energy giant Petrobras said the reporting judge of the 4th Panel of the Federal Regional Court of the 3rd Region issued a decision today suspending the effects of the decision suspending Mr. Pietro Adamo Sampaio Mendes from exercising the position of board member of […]
ENGIE EnergĂa Chile Reveals Expiration of Cash TenderÂ
(EECL, 15.Apr.2024) — ENGIE EnergĂa Chile S.A. (EECL) said its previously announced cash tender offer (the “Tender Offer”) for any and all of its outstanding 4.500% Notes due 2025 (the “Notes”) has expired at 5:00 p.m., New York City time, on 12 Apr. 2024 (the “Expiration Date”). The Tender Offer was made pursuant to an offer […]
Pemex to Remain A Fiscal Challenge for Next President of Mexico
(S&P Global Ratings, 15.Apr.2024) — Mexico’s relationship with state-owned oil giant Pemex will remain a fiscal challenge for the country’s next presidential administration, said S&P Global Ratings in “Pemex Will Remain A Fiscal Challenge For Mexico’s Next President.” The national elections in June encompass the presidency and both chambers of […]
US Not to Renew Easing of Venezuela Oil Sanctions Unless Progress Made on Elections
(Reuters, 15.Apr.2024) — The U.S. will not renew a temporary license set to expire on Thursday that widely eased sanctions on Venezuela’s oil and gas sector, a State Department spokesperson said, unless progress is made by President Nicolas Maduro on commitments for free and fair elections this year. The U.S. […]
SLB Awarded Three Completion Contracts for Petrobras’ Buzios Field
(SLB, 15.Apr.2024) — SLB (NYSE: SLB) has been awarded three contracts by Petrobras (NYSE: PBR) for completion hardware and services for up to 35 subsea wells in the development of Petrobras’ offshore Buzios Wave II oilfield. The scope of the contract includes SLB’s full bore electric interval control valves and […]
Xi Jinping on the Belt and Road Initiative and Readers in Chile
(Beijing Review, 13.Apr.2024) — The Spanish edition of Xi Jinping on the Belt and Road Initiative is helping Latin American countries better understand and participate in the China-proposed Belt and Road Initiative (BRI), officials and scholars said at a seminar held for readers to share their ideas in Santiago, Chile, […]
SBM Awarded Contracts for ExxonMobil Guyana’s FPSO Jaguar
(SBM, 12.Apr.2024) — SBM Offshore announced that ExxonMobil Guyana Limited (EMGL) has confirmed the award of contracts for the Whiptail development project located in the Stabroek Block in Guyana. Under these contracts, SBM Offshore will construct and install FPSO Jaguar. Ownership will transfer to EMGL prior to the FPSO’s installation […]
ExxonMobil Guyana Takes $12.7bn FID with Sixth Project Whiptail
SPRING, TEXAS (ExxonMobil, 12.Apr.2024) — ExxonMobil has made a final investment decision for the Whiptail development offshore Guyana, after receiving the required government and regulatory approvals. Whiptail, the sixth project on the Stabroek block, is expected to add 250,000 barrels of daily capacity by the end of 2027. “Our sixth […]
Golden Arrow Updates on Agreement at San Pietro IOCG
(Golden Arrow, 11.Apr.2024) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) reported on the status of the option granted to Sociedad de Servicios Andinos SpA (SSA) in respect to the San Pietro project located in Chile (the “Transaction“). As previously announced on 12 Jan. 2024 (the “Initial Press Release“), New Golden Explorations Chile SpA […]
Petrobras Looks to Overturn Decision Regarding Pietro AdamoÂ
(Energy Analytics Institute, 11.Apr.2024) — Brazilian energy giant Petrobras said a precautionary decision was issued on 11 Apr. 2024 in the context of a popular action underway at the 21st Federal Court of SĂŁo Paulo, which determined the suspension of Mr. Pietro Adamo Sampaio Mendes from his position as a […]
PetroTal Announces Q1 2024 Operations and Corporate Updates
(PetroTal, 11.Apr.2024) — PetroTal Corp. (TSX: TAL, AIM: PTAL and OTCQX: PTALF) announces the following operational, financial and corporate updates. All amounts are in US dollars unless stated otherwise. Q1 2024 Production PetroTal achieved average production of 18,518 barrels of oil per day (bopd) in Q1 2024, in line with guidance. […]
GeoPark In Exclusive Dealings to Buy Unconventional Blocks in Vaca Muerta
(GeoPark, 11.Apr.2024) — GeoPark Limited (NYSE: GPRK) has submitted a binding offer to acquire a non-operated working interest (WI) in unconventional blocks in the Neuquen Basin in Argentina. As of the date of this release, the offer has been accepted by the seller and the parties are working on an […]
Petrobras finds oil in ultra-deep waters of the Potiguar basin
RIO DE JANEIRO, BRAZIL (By Petrobras, 9.Apr.2024, Words: 552) — Petrobras has discovered an accumulation of oil in ultra-deep waters of the Potiguar Basin, in the Anhangá exploratory well, of Concession POT-M-762_R15. The 1-BRSA-1390-RNS (Anhangá) well is located on the coast between Ceará and Rio Grande do Norte, about 190 km […]
APA Corp. Updates on Executive Leadership Changes
(APA Corp., 9.Apr.2024) — APA Corporation (Nasdaq: APA) announced updates to its executive leadership team to coincide with a restructuring of its development function and the integration of the recently closed acquisition of Callon Petroleum. The changes are effective immediately. “Building on the momentum of our recently closed acquisition, we […]
BP in Talks to Sell Some Trinidad Upstream Gas Assets to Perenco
(Reuters, 8.Apr.2024) — BP is close to an agreement to sell some of its Trinidad and Tobago oil and gas assets to Anglo-French oil company Perenco, according to three people familiar with the talks. BP is Trinidad and Tobago’s largest natural gas producer with an output of just over 1.3 billion […]
Petrobras Comments on Decision in Popular Action
(Energy Analytics Institute, 8.Apr.2024) — Petrobras said that on 5 Apr. 2024 a precautionary decision was published within the scope of a popular action in progress at the 21st Federal Court of SĂŁo Paulo, which determined the suspension of Mr. SĂ©rgio Machado Rezende from the exercise of the position of […]
Petrobras Evaluating Draft of Public Call for Tenders
(Energy Analytics Institute, 8.Apr.2024) — Petrobras is technically evaluating the draft of the public call for tenders, as is its regular practice whenever alternatives are offered in relation to tax litigation. The announcement relates to news published in the media about a possible tax transaction, the state energy giant said […]
Petrobras on Extraordinary Dividend Payment
(Energy Analytics Institute, 6.Apr.2024) — Brazilian energy giant Petrobras, in regards to recent news published in by the local media in Brazil, clarifies that the payment of extraordinary dividends was not on the agenda of the company’s Board of Directors meeting held on 5 Apr. 2024, the company said 6 […]
MEEI Says Cove Operations Moving to Hydrocarbon Removal Phase
(Ministry of Energy and Energy Industries, 5.Apr.2024) — The Ministry of Energy and Energy Industries (MEEI) advises that steps have been taken to progress operations to the hydrocarbon removal phase of the overturned vessel off the coast of Cove, Tobago. Investigations inclusive of a tank-by-tank analysis to determine both the […]
Ecopetrol Announces Senior Management Changes
(Ecopetrol, 5.Apr.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces the following senior management changes: Ana Milena LĂłpez, submitted her voluntary resignation as Corporate Vice President of Finance and Sustainable Value effective on 12 Apr. 2024. MarĂa Catalina Escobar Hoyos, our current Value Maximization Manager, will temporarily take over this position […]
Petrobras Comments on Upcoming General MeetingÂ
(Energy Analytics Institute, 4.Apr.2024) — Rio de Janiero-based Petrobras, with regards to news published by the local Brazilian media about the payment of extraordinary dividends, said 4 Apr. 2024 in an official statement that there was no decision regarding the distribution of such amounts. According to the so-called material fact […]
Venezuelan Production with US Sanctions Not Reimposed, Reimposed: Rystad
(Rystad Energy, 4.Apr.2024) — As the deadline for US sanctions relief on Venezuela ends on 18 Apr. 2024, the outlook for the South American nation’s oil industry appears uncertain. If the US does not reimpose sanctions, Venezuela could surpass the 1 million barrels per day (bpd) threshold as early as […]
MEEI Head Young Meets with Methanex Country President Bain
(MEEI, 3.Apr.2024) — The Honourable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, met with Mr. Colin Bain, Managing Director and President, Methanex Trinidad and Tobago. This meeting took place on 3 Apr., 2024 at the Ministry of Energy […]
Petrobras on Minority Shareholders’ Nominations for BODs, Fiscal Council
(Petrobras, 3.Apr.2024) — Petrobras, following up on the communication from 20 Mar. 2024, informs that it has received correspondence from minority shareholders holding common shares requesting the replacement of candidates for the positions of main and alternate members of the Fiscal Council (FC), for the election to be held at […]
Bendito Resources Pursues Strategic Acquisition of Mt. Hamilton Gold Project
(Bendito Resources, 2.Apr.2024) — Bendito Resources Inc. has entered into a Membership Interest Purchase Agreement with Waterton Nevada Splitter, LLC and Waterton Nevada Splitter II, LLC (collectively, the “Vendor”) pursuant to which Bendito will acquire (the “Transaction”) from the Vendor 100% of Mt Hamilton LLC, the owner of the Mt. Hamilton gold […]
EAI’s NRGBriefs: March 2024
(Energy Analytics Institute, 31.Mar.2024) — Energy briefs as well as others related to finance and projects during Mar. 2024 including Argentine inflation reaching 13.2% in Feb. 2024 and trailing 12-month inflation reaching 276.2%; Petrobras saying it will not create a new reserve; NextDecade targeting a positive final investment decision (FID) […]
Venezuela’s Parliament Approves Creation of State in Disputed Oil-Rich Essequibo
(AFP, 23.Mar.2024) — Caracas has long laid claim to Essequibo, which makes up about two-thirds of Guyana’s territory, but started taking active steps to retrieve the land after massive offshore oil deposits were discovered there in 2015. Lawmakers unanimously approved a law on Thursday that was drawn up after a December […]
Chevron Venezuela Manager Jailed Amid Crackdown on Gov’t Critics
(AP, 23.Mar.2024) — A former fighter pilot jailed in Venezuela in February for his ties to a prominent human rights attorney is an employee of U.S. oil firm Chevron, The Associated Press has learned, an arrest that combined with other recent repressive acts by Nicolás Maduro’s government is straining efforts […]
Ecopetrol Informs About Dutch Court and Restructuring Process of CB&I N.V.
(Ecopetrol, 22.Mar.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that RefinerĂa de Cartagena S.A.S. (Reficar) has been notified of the decision to approve the alternative financial restructuring plan of Chicago Bridge & Iron Company N.V. (CB&I N.V.), reached on 21 Mar. 2024, by the District Court of Amsterdam in the […]
Westlawn and WAO to Buy 20% Interest in BS-4 Block in Brazil From Enauta
(Westlawn Group, 22.Mar.2024) — Westlawn Group LLC and Westlawn Americas Offshore LLC (WAO), a portfolio company of Westlawn, signed a definitive Purchase and Sale Agreement to acquire a 20% working interest in the BS-4 concession in Brazil. The working interest position, which is being acquired from the field’s operator Enauta Energia S.A., will […]
CERAWeek 2024 Boasts Delegate Attendance of 8,100+Â
(Energy Analytics Institute, 22.Mar.2024) — The CERAWeek by S&P Global, held 18-22 Mar. 2024 in Houston, Texas, boasted in attendance 8,100+ delegates (9,400+ when counting staff, vendors etc), a record compared to the prior record of 7,200+ delegates at CERAWeek 2023. CERAWeek counted on 1,400 speakers and tons of S&P […]
Trinidad Seeks US License for BP Gas Project Shared with Venezuela
(Reuters, 21.Mar.2024) — The government of Trinidad and Tobago has begun talks with the U.S. for a license that would allow the joint development of a natural gas project shared with Venezuela that also involves BP, Energy Minister Stuart Young said on Thursday. The Manakin-Cocuina areas are part of the […]
Touchstone 2023 Operating Results
(Touchstone, 21.Mar.2024) — Touchstone Exploration Inc. (TSX, LSE: TXP) reports its operating and condensed financial results for the three months and year ended 31 Dec. 2023. Selected financial information is outlined below and should be read in conjunction with our 31 Dec. 2023 audited consolidated financial statements and related Management’s discussion […]
Petrobras on Remuneration Payment to Shareholders
(Petrobras, 20.Mar.2024) — Petrobras, following up on the Material Facts of 11/09/2023, 11/21/2023 and 03/13/2024, announced it will pay today the second installment of dividends relating to the balance sheet of 30 Sep. 2023. The gross amount to be distributed today is R$ 0.68864344 per common and preferred share, in […]
Petrobras on BODs and Fiscal Council Appointments
(Petrobras, 20.Mar.2024) — Petrobras has so far received nominations from the Federal Government (Controlling Shareholder) and Minority Shareholders for the elections to the Board of Directors and Fiscal Council, to be held at the company’s Annual General Meeting (AGM), scheduled for 25 Apr. 2024. Based on the company’s internal governance […]
Maria Corina Machado faces deadline in race against Maduro
(AP, 16.Mar.2024, Words: 1,120) — It’s her choice — but one on which the hopes of millions of Venezuelans fighting to restore their democracy depends. Barred from running for office, opposition leader MarĂa Corina Machado is facing pressure from foreign leaders and fellow government opponents to abandon her dead-end presidential […]
AES Andes S.A. Announces Early Tender Results
(AES Andes, 15.Mar.2024) — AES Andes S.A., a sociedad anĂłnima abierta, or a publicly traded open stock corporation, organized under the laws of the Republic of Chile announced: the early results of the previously announced offers to purchase for cash (the “Tender Offers“) any and all of its outstanding 5.000% Senior Notes […]
Petrobras on Partnership with Mubadala Capital
(Petrobras, 15.Mar.2024) — Petrobras, following up on the release disclosed on 22 Dec. 2023, informs that it is continuing discussions with Mubadala Capital regarding the formation of a downstream partnership in Brazil, the scope of which involves evaluating the acquisition of a stake in the Mataripe S.A. Refinery (RefMat) and […]
Petrobras Clarifies News from Valor EconĂ´mico
(Petrobras, 15.Mar.2024) — Petrobras, regarding the article “Controversy puts dialogue between Petrobras and the market in check“, published in Valor EconĂ´mico this Friday, reiterates that the company did not promise or signal a direction for extraordinary dividends at an event with analysts and investors, as already disclosed in a release […]
ExxonMobil Guyana Reports New Oil Find
(ExxonMobil, 15.Mar.2024) — ExxonMobil Guyana announced a discovery at Bluefin in the Stabroek block offshore Guyana, the company’s first discovery of 2024. The Bluefin well encountered approximately 197 feet (60 metres) of hydrocarbon-bearing sandstone and was drilled by the Stena Drillmax drillship in 4,244 feet (1,294 metres) of water. The […]
Steel Tube Institute Backs Legislation to Curb Mexican Steel Imports
(Steel Tube Institute, 14.Mar.2024) — The Steel Tube Institute (STI) – an organization that brings together key producers in the steel industry to advance the use of steel tubing – today declared its support of new legislation preventing illegal steel imports from Mexico into the United States. Senators Tom Cotton (R-Arkansas) and Sherrod […]
Kootenay Starts 2024 Drilling Program at Columba Silver Project
(Kootenay Silver, 14.Mar.2024) — Kootenay Silver Inc. (TSXV: KTN) initiated its’ Q1 diamond drilling program at Columba Silver Project in Chihuahua, Mexico. The proposed program includes 15-17 drillholes for a combined 5,000m and is designed to expand upon previous intercepts along the highly prospective D-Vein target. Recent drilling in late 2023 focused […]
Sempra Infrastructure Launches Cimarron Wind Project
(Sempra, 14.Mar.2024) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), reached a positive final investment decision for the development, construction and operation of the Cimarron wind project, the third phase of the EnergĂa Sierra Juarez (ESJ) wind complex. The Cimarron wind project will total approximately 320 megawatts (MW) […]
Venezuela, MEEI, NGC, and bpTT talk Manakin/Cocuina field
HOUSTON, TEXAS (By Pietro D. Pitts, Editores LatinPetroleum, 14.Mar.2024, Words: 183) — Parties from Trinidad and Tobago and Venezuela met in Caracas, Venezuela on 13 Mar. 2024 to commence engagement, discussions and negotiations related to the cross border Manakin/ Cocuina hydrocarbon field. The presentations and discussions including the exchange of […]
Ecopetrol Board Blasts Anti-Oil President Petro’s Nominees as Unfit
(Bloomberg, 14.Mar.2024) — Board members of Colombia’s state oil company are objecting to President Gustavo Petro’s attempt to overhaul it with new directors as he works to wean the country off fossil fuels. Ecopetrol SA’s governance committee issued a report Tuesday that said none of the five candidates proposed by […]
Petrobras Clarifies News in Media About Dividends
(Petrobras, 12.Mar.2024) — Petrobras, regarding the article “Presentation to analysts in NY would have signaled payment of dividends by Petrobras”, published in Valor, clarifies that the company did not promise or signal any indication of extraordinary dividends at the event held with analysts and investors on 01/30/2024 and 01/31/2024. Petrobras […]
Mexico’s Zama Project Undergoing Changes in Engineering Design
(Offshore staff, 12.Mar.2024) — The Zama offshore oilfield development project operated by state company Pemex has been “delayed for the right reasons,” according to Talos Energy Chief Executive Tim Duncan. Duncan said that the delay will allow needed changes to the engineering design that will enable the project to move […]