Latin America and the Caribbean Archives - Page 64 of 220

ExxonMobil to explore in area disputed by Guyana and Venezuela

GEORGETOWN, GUYANA (AP, 7.Feb.2024, Words: 370) — ExxonMobil said it plans to explore for oil and gas in a disputed area off South America’s coast where the Venezuelan military had previously expelled two U.S. oil companies. The move could escalate tensions between Venezuela and neighboring Guyana, which awarded the exploration […]

TotalEnergies Updates on Suriname FID 4Q:23 Webcast [PDF Downloads]

(TotalEnergies, 7.Feb.2024) — TotalEnergies SE reported its 4Q:23 and year end 2023 results, commenting on its Suriname FID planned for later in 2024 and other plans related to its LNG portfolio. ____________________

Petrobras Inks Deal with ANP

(Petrobras, 6.Feb.2024) — Petrobras, following up on the release disclosed on 26 Apr. 2023, informs that it has signed an agreement with the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to terminate the lawsuit involving the recalculation of government take (royalties and special participation) related to oil production […]

YPF on Final Results with respect to its Tender Offer

(YPF, 6.Feb.2024) — YPF Sociedad Anónima announced the expiration and final results as of 5:00 p.m. (New York City time) on 5 Feb. 2024 of its previously announced cash tender offer for any and all of its outstanding US$346,313,047.20 aggregate principal amount of 8.75% senior amortizing notes due 2024 on […]

Summit Nanotech and Cobax Mining Ink Deal for Salar de La Isla

(Summit Nanotech, 5.Feb.2024) — Summit Nanotech and Cobax Mining, a Chilean-based exploration company, signed an agreement to develop an exploration and development program at the Salar de La Isla that prioritizes community, environment, and effective project economics. The geologic focus of the exploration and development program will be the alluvial fan of […]

ExxonMobil Announces 2023 Results, Updates on Guyana [PDF Downloads]

(Exxon, 2.Feb.2024) — Exxon Mobil Corporation announced fourth-quarter 2023 earnings of $7.6bn, or $1.91 per share assuming dilution. Fourth-quarter results included unfavorable identified items of $2.3bn including a $2bn impairment as a result of regulatory obstacles in California that have prevented production and distribution assets from coming back online. Impairments […]

FAQs: Suspension of Certain U.S. Sanctions with Respect to Venezuela

(OFAC, 2.Feb.2024) — Actions by Maduro and his representatives in Venezuela, including the arrest of members of the democratic opposition and the barring of candidates from competing in this year’s presidential election, are inconsistent with the agreements signed in Barbados in Oct. 2023 by representatives of Maduro and the opposition […]

Shell Plc Posts Year End 2023 Results [PDF Downloads]

(Shell Plc, 1.Feb.2024) — Shell plc released its fourth quarter results and fourth quarter interim dividend announcement for 2023. ____________________

Ecopetrol Submits Report “Código País” for FY2023 [PDF Download]

(Ecopetrol, 30.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC), submitted the Report on the Implementation of Best Corporate Practices – “Código País” – to the Financial Superintendency of Colombia. The report describes the corporate governance practices adopted and implemented by the company between 1 Jan. 2023 and 31 Dec. 2023. The Código […]

EAI’s NRGBriefs: January 2024

(Energy Analytics Institute, 31.Jan.2024) — Energy briefs as well as others related to finance and projects during Jan. 2024 including Washington reviewing its sanctions policy on Venezuela; QatarEnergy confirming that Qatar’s LNG production continues uninterrupted; Evercore ISI continuing on Biden’s moves to pause on LNG export terminal approvals; an S&P […]

Pemex’ ESG Outlook [PDF Download]

(Pemex, 31.Jan.2024) — Pemex‘ sustainability plan will focus on the most material components related to the oil and gas industry. And, the three main areas of focus include: emissions reduction and energy transition strategy, industrial safety and health and social and governance. ____________________

Petroleum sanctions in Venezuela: origins, scope and failures [PDF download]

CARACAS, VENEZUELA (By Carlos Rossi for Editores LatinPetroleum, 31.Jan.2024, Words: 340) — Although US sanctions imposed on Venezuelan individuals for corruption charges date as far back as the beginning of the first decade of this century, the origin of US sanctions against the nation of Venezuela date back to the […]

Hess Reports 4Q:23 Results, Updates on Payara [PDF Download]

(Hess, 31.Jan.2024) — Hess Corporation (NYSE: HES) reported net income of $413mn, or $1.34 per share, in the fourth quarter of 2023, compared with net income of $497mn, or $1.61 per share, in the fourth quarter of 2022. On an adjusted basis, the corporation reported net income of $501mn, or […]

Petrobras Informs on Earnout from Sépia and Atapu

(Petrobras, 31.Jan.2024) ) — Petrobras has received, in cash, an amount of R$1.819bn, referring to the complement of the firm compensation (earnout) of the 2023, from the Sépia and Atapu blocks. The amount already includes the gross-up of the taxes levied on the 28%, 21% and 21% stakes held by […]

SLB and Equinor Drill Most Autonomous Well Section To-Date

(SLB, 30.Jan.2024) — SLB (NYSE: SLB) announced a significant step toward fully autonomous drilling operations at Equinor’s Brazilian Peregrino C platform. SLB digital technologies for surface automation, autonomous on-bottom drilling, and directional drilling were combined to enable 99% of a 2.6-kilometer section to be drilled in autonomous control mode. Over a […]

US Warns Maduro of Sanctions Snap Back

(Energy Analytics Institute, 30.Jan.2024) — US State Department spokesperson Matthew Miller said there’s still time for the Nicolás Maduro regime in Venezuela to change course but said that if they didn’t that Washington was prepared “to allow General License #44 expire and “our sanctions will snap back into place.” “There […]

New Fortress Receives Customs Ruling for Its FLNG Facility

(New Fortress, 29.Jan.2024) — New Fortress Energy Inc. (NASDAQ: NFE) (announced that U.S. Customs and Border Protection has issued a ruling confirming that the transportation of LNG produced at the company’s FLNG facility located offshore Altamira, Mexico by non-U.S. qualified vessels would not violate the Jones Act. As a result of this ruling, NFE is now […]

OFAC on Wind Down of Transaction of CVG [PDF Download]

(Energy Analytics Institute, 29.Jan.2024) — The US Department of the Treasury‘s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 43A on 29 Jan. 2024, which relates to “Authorizing the Wind Down of Transactions Involving CVG Compania General de Mineria de Venezuela CA.” ____________________ By Ian Silverman. © Energy […]

Petroleum sanctions in Venezuela [PDF download]

CARACAS, VENEZUELA (Energy Analytics Institute, 28.Jan.2024) — If the US experiences the return of Donald Trump as president, or if in Venezuela Maria Corina Machado’s handpicked successor wins, or both, no one is sure what will happen. So international oil companies (IOCs) will likely sit tight and not invest but […]

Venezuela Court Disqualifies Leading Opposition Candidate

(Al Jazeera, 27.Jan.2024) — Venezuela’s Supreme Justice Tribunal has upheld a ban which prevents presidential candidate Maria Corina Machado from holding office, upending the opposition’s plans for elections planned for later this year. Machado, a former lawmaker, won the opposition’s independently run presidential primary last October with more than 90 […]

YPF SA names Horacio Daniel Marin as president

HOUSTON, TEXAS (Aaron Simonsky, Energy Analytics Institute, 26.Jan.2024, Words: 34) — Argentina’s state-owned energy giant YPF SA announced the appointment of Horacio Daniel Marin as president of the company. ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.

Petrobras Reaches 2023 Production Target

(Petrobras, 26.Jan.2024) — Petrobras reached total oil and natural gas production of 2.78 MMboed in 2023, 3.7% higher than the production recorded in 2022. Commercial production of oil and natural gas was 2.44 MMboed and oil production 2.24 MMbpd. These results exceeded our Strategic Plan 23-27 guidances and were in […]

Petrobras on Board Member Appointment

(Petrobras, 26.Jan.2024) — Petrobras, further to the announcement made on 01/22/2024, informs that its Board of Directors has appointed Mr. Renato Campos Galuppo as a board member. The analysis and election process was submitted to the applicable governance procedures, and no impediment was found to the assumption of a management […]

Kootenay Updates Estimates at La Cigarra Project, Chihuahua Mexico

(Kootenay, 25.Jan.2024) — Kootenay Silver Inc. (TSXV: KTN) announced an updated Mineral Resource Estimate (“MRE”) on its 100% owned La Cigarra Project, located in the Parral Silver District of Chihuahua State, Mexico. The current Resource Estimate, calculated by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services in accordance with NI 43-101 standards […]

Petrobras Interested in Area under Production Sharing Regime

(Petrobras, 24.Jan.2024) — Petrobras expressed to the National Energy Policy Council (CNPE) its interest in the right of first refusal in a block to be tendered in the Permanent Offer System, under the Production Sharing Regime, under the terms of Law 12,351/2010 and Federal Decree 9,041/2017. Petrobras approved the expression […]

Recording-Setting Transactions in 4Q:23 Worth for Upstream M&A

(Enverus, 23.Jan.2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity. Q4 recorded a massive $144bn in upstream M&A, the largest quarter EIR has tracked. That pushed full-year 2023 value to more than $190bn, also […]

BP sees Trinidad Deepwater Gas Getting Greenlight as soon as 2025

(Reuters, 23.Jan.2024) — BP expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said. BP, which holds a 30% stake in […]

Venezuela: Arrests and Detentions of Opposition, Civil Society

(US State Department, 23.Jan.2024) — The United States is deeply concerned by the issuance of arrest orders and detentions against at least 33 Venezuelans, including members of the democratic opposition, civil society, former members of the military, and journalists. Arrests without due process run contrary to the spirit of the […]

Petrobras Informs Resignation, Appointment of BODs Member

(Petrobras, 22.Jan.2024) — Petrobras received a letter of resignation from Mr. Efrain Pereira da Cruz from the position of Board Member and member of the Investment Committee. Due to the vacancy, the Federal Government, through a letter from the Ministry of Mines and Energy, appointed Mr. Renato Campos Galuppo to […]

PM Rowley Attends 2024 Opening of Trinidad Energy Conference

(Office of the PM of Trinidad and Tobago, 22.Jan.2024) — Prime Minister Dr the Hon. Keith Rowley officially opened the 2024 Energy Conference and Trade Show hosted by the Energy Chamber of Trinidad and Tobago at the Hyatt Regency Trinidad in Port of Spain on Monday, 22 Jan. 2024. Under […]

Trinidad in Talks with Europe to Supply Venezuelan Gas

(Reuters, 22.Jan.2024) — Trinidad and Tobago has begun talks with some European countries on the supply of liquefied natural gas (LNG) produced from Venezuelan gas, Prime Minister Keith Rowley said on Monday. Venezuela’s government in December granted a 30-year license to Shell (SHEL.L), opens new tab and Trinidad’s National Gas Company (NGC) for joint […]

S&P Maintains Ecopetrol’s Credit Rating at BB+

(Ecopetrol, 19.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that S&P Global Ratings modified the outlook of Ecopetrol’s credit rating from stable to negative, as a result of the review in the outlook of Colombia’s credit rating, also from stable to negative. Likewise, S&P confirmed that Ecopetrol’s global rating is maintained […]

US Court Accepts $20.8bn in Claims Against Venezuela in Citgo Auction

(Reuters, 19.Jan.2024) — A U.S. court on Friday approved claims by 17 Venezuela-linked creditors, including ConocoPhillips, Rusoro Mining and Koch Industries, to get proceeds from a coming auction of shares in the parent of Venezuela-owned oil refiner Citgo Petroleum to satisfy claims for expropriations and debt defaults. The list, which […]

Ecopetrol Says to Conduct Further Tests at Arauca 8 Well

(Energy Analytics Institute, 18.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) said that in order to determine the materiality of the Arauca 8 well discovery, it would be necessary to complete the analysis and evaluation tests of said well. The Arauca 8 well is located in the Municipality of Saravena […]

Mark Loquan Departs NGC after Eight Year Tenure

(NGC, 18.Jan.2024) — The National Gas Company of Trinidad and Tobago Limited (NGC) wishes to announce that Mark Loquan will not renew his contract with NGC; and his appointment as Director on the NGC Board and its affiliates will also cease. This becomes effective on 31 Aug. 2024, and follows […]

Ecopetrol Reveals Senior Management Changes

(Ecopetrol, 17.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, the following changes will be made in its senior management: Alejandro Arango, who has been serving as Corporate Vice President of Human Talent, presented his voluntary resignation from the position, which was accepted as of 18 Jan. 2024. Victoria Irene […]

Trinidad Energy Chamber Comments on Paria Incident

(The Energy Chamber, 17.Jan.2024) — The Energy Chamber of Trinidad & Tobago welcomes the fact that the report from the Commission of Enquiry into the tragic Paria incident has been made public. Sharing the lessons gathered from this incident is critical for the prevention of similar events in the future. […]

Cochilco Eyes Higher Copper Prices in 2024-25

(Energy Analytics Institute, 17.Jan.2024) — Cochilco expects its average copper price to reach $3.85 per pound (lb) in 2024. This compares to $3.80/lb in 2023, the company announced 17 Jan. 2024 on Instagram. The company expects the price to average $3.90/lb in 2025. Cochilco said the higher prices were due […]

Staatsolie’s Jagesar Emphasizes Need for National Model

(Energy Analytics Institute, 17.Jan.2024) — Staatsolie managing director Annand Jagesar emphasized the importance of developing a national model for regulation, exploration and development. Jagesar’s comments were made on 17 Jan. 2024, according to a post by the AAPG SPE, and at the start of a two-day multidisciplinary program titled: “Technical […]

NGC Green Joins NGC Group of Companies

(NGC, 17.Jan.2024) — Over the past few years, the local energy sector has been embracing the transition towards a cleaner energy future. NGC has been leading that movement, by pursuing a diverse Green Agenda, and integrating sustainability into all aspects of our business. NGC has delivered a milestone achievement to […]

Ecopetrol Prices Cash Tender Offer for Outstanding 4.125% Notes due 2025

(Ecopetrol, 16.Jan.2024) — Ecopetrol S.A. (NYSE: EC) announced the tender offer consideration (the “Total Consideration”) payable in connection with the previously announced cash tender offer (the “Offer”) by Ecopetrol, which commenced on 9 Jan. 2024, to purchase any and all of its outstanding 4.125% Notes due 2025 (the “Securities”), upon […]

Exxon to Buy Another 1.2 mtpa of LNG from Mexico Pacific

(Reuters, 16.Jan.2024) — Mexico Pacific said on Tuesday it had reached a deal to supply Exxon Mobil with an additional 1.2 million tonnes per annum of liquefied natural gas, clearing the way for a final investment decision to expand its Saguaro Energia LNG plant. ExxonMobil LNG Asia Pacific tied up […]

OFAC Updates on PDVSA Bond, Transactions [PDF Download]

(Energy Analytics Institute, 16.Jan.2024) — The US Office of Foreign Assets Control (OFAC) authorized certain transactions related to state-owned Petróleos de Venezuela, S.A.‘s 2020 8.5% bond on or after 16 Apr. 2024, the agency revealed 16 Jan. 2024 in an official statement. ____________________ By Piero Stewart. © Energy Analytics Institute […]

Mexico Pacific Inks Optional LNG Offtake with ExxonMobil

(Mexico Pacific, 16.Jan.2024) — Mexico Pacific signed a third long-term Sales and Purchase Agreement (SPA) with ExxonMobil LNG Asia Pacific (EMLAP) for an additional 1.2 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Train 3 of Mexico Pacific’s Saguaro Energia project located on the west coast of […]

Guyana’s Finance Minister Presents 2024 Budget [PDF Download]

(Guyana’s Finance Ministry, 15.Jan.2024) — Guyana’s Finance Minister Dr. Ashni K. Singh, M.P presenting the South American country’s budget for 2024, highlighting the nascent oil and gas sector, which continues to drive growth in gross domestic product (GDP). ____________________

Golden Arrow Announces $5mn Option Agreement

(Golden Arrow, 12.Jan.2024) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) announced that New Golden Explorations Chile SpA (NGE), a wholly-owned subsidiary of the company, has entered into an option agreement (fully executed 9 Jan. 2024) with Sociedad de Servicios Andinos SpA (SSA). Under the option agreement, NGE has granted […]

Ecopetrol Shareholders’ to Amend Bylaws [PDF Download]

(Ecopetrol, 11.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that during the extraordinary general shareholders’ meeting held on 10 Jan. 2024, previously called in accordance with the legal and statutory requirements applicable to the company, the shareholders approved the amendment to the bylaws proposed by the majority shareholder, in accordance with […]

IMF Unlocks $4.7bn for Argentina Amid Economic Crisis

(Al Jazeera, 11.Jan.2024) — Argentina and the International Monetary Fund (IMF) have finalised an agreement to release $4.7bn as part of a debt restructuring plan for the troubled South American nation. Latin America’s third-biggest economy is facing dire economic challenges after decades of debt and financial mismanagement, with inflation surpassing 160 percent […]

YPF Sells $800mn Bond to Fund Debt Buyback

(Bloomberg, 10.Jan.2024) — Argentina’s state-owned oil driller YPF SA tapped international investors with a new dollar bond to help finance a buyback of existing debt, according to people familiar with the matter. The firm sold $800 million in fixed-rate debt due 2031, according to people familiar with the matter. The […]

IMF Grants Argentina Access to $4.7bn

(IMF, 10.Jan.2024) — An International Monetary Fund (IMF) team, led by Luis Cubeddu, Deputy Director of the Western Hemisphere Department and Ashvin Ahuja, Mission Chief for Argentina, issued the following statement in Buenos Aires today following the conclusion of discussions on the seventh review of the Extended Fund Facility (EFF) […]