(Petrobras, 10.Jan.2024) — Petrobras, in continuity with the announcement made on 26 Dec. 2023, informs that it received, on today’s date, from Carmo Energy, the last installment in the amount of $298mn, already considering the adjustments and late payment charges due, related to the sale of the CarmĂłpolis Pole, which […]
Category: Latin America and the Caribbean
Petrobras on Non-renewal of Vibra Trademark License
(Petrobras, 10.Jan.2024) — Petrobras notified Vibra Energia S.A. that it has no interest in extending the term of the company’s current trademark license agreement, which began on 28 Jun. 2019 and will end on 28 Jun. 2029. This agreement will remain in force, subject to the contractual terms and conditions. The […]
More Venezuela Creditors to Join Citgo Auction
(Reuters, 8.Jan.2023) — A U.S. judge on Monday granted a large group of Venezuela-linked creditors rights to participate and receive proceeds from a coming auction of shares in the parent of Houston-based refiner Citgo Petroleum. A precedent-setting lawsuit by Canadian miner Crystallex Corp formally tied Venezuela-owned Citgo to the South […]
Wood inks engineering design for 100,000 b/d Trion project offshore Mexico
MEXICO CITY, MEXICO (By Fidencio Casillas, 8.Jan.2023, Words: 240) — Wood secured a contract from HD Hyundai Heavy Industries for detailed engineering of the topsides facilities on Woodside Energy‘s Trion Floating Production Unit (FPU) in Mexican waters of the Gulf of Mexico. Once finished, Trion will have a production capacity […]
India to Sign Energy MoU with Guyana
(Reuters, 5.Jan.2024) — India approved signing a 5-year memorandum of understanding (MoU) with Guyana to cooperate in the hydrocarbon sector as the South Asian nation looks to diversify its oil import sources. The proposed agreement will cover areas such as sourcing of crude oil from the South American nation, participation […]
Ecopetrol Commences Tender for 4.125% Notes due 2025
(Ecopetrol, 5.Jan.2024) — Ecopetrol S.A. (NYSE: EC) announced the commencement of a cash tender offer (the “Offer”), to purchase any and all of its outstanding 4.125% Notes due 2025 (the “Securities”), upon the terms and subject to the conditions set forth in Ecopetrol’s Offer to Purchase, dated January 9, 2024 (as the same may […]
New Climate Smart Map on the Way
(Trinidad and Tobago Newsday, 4.Jan.2024) — Price Waterhouse Coopers (PwC) has partnered with the Caribbean Climate-Smart Accelerator (CCSA) to launch a climate smart map at COP28 in Dubai, aimed at bolstering climate resilience across the region. The interactive platform consolidates climate action data from over 26 countries, providing a tool […]
ONGC Videsh to Get Some Oil from Venezuela
(Reuters, 3.Jan.2023) — Venezuela has agreed to give some oil to India’s ONGC Videsh to help it recoup its pending $600 million dividend for a stake in a project in the South American nation, India’s oil secretary said on Wednesday. Indian refiners have resumed purchase of Venezuelan oil following the easing of U.S. […]
Venezuela’s 2023 Oil Exports Rose, Aided by US Sanctions Easing
(Reuters, 3.Jan.2023) — Venezuela’s oil exports increased 12% last year to almost 700,000 barrels per day (bpd) as the United States eased sanctions imposed since 2019 on the OPEC country’s energy sector, according to data and documents viewed by Reuters. The increase shows the impact of sanctions relaxation on the […]
Petrobras Puts Platform Vessel into Pre-salt Production
(Petrobras, 31.Dec.2023) — Petrobras put into production today the Sepetiba platform vessel, in the Mero field, Libra block, in the pre-salt Santos Basin. This is Mero’s third production system, with the capacity to produce up to 180 thousand barrels of oil a day and compress up to 12 million cubic meters […]
EAI’s NRGBriefs: Dec. 2023
(Energy Analytics Institute, 31.Dec.2023) — Energy briefs as well as others related to finance and projects during Dec. 2023 including why Venezuela wants to annex the Essequibo; Petrobras acquiring 29 blocks in the Pelotas basin in the 4th Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas […]
Petrobras Inks Deal with UNIGEL
(Petrobras, 29.Dec.2023) — Petrobras, following up on the releases published on 6 Jun. 2023 and 23 Jun. 2023, signed a contract with Unigel Participações S.A. for industrialization on order (tolling) for the production of fertilizers at the Sergipe and Bahia plants. The agreement is the result of the partnership between Petrobras and […]
Petrobras on Natural Gas Flow, Processing
(Petrobras, 29.Dec.2023) — Petrobras, together with Equinor Energy do Brasil Ltda. signed the contracts for the Campos Basin Integrated Natural Gas Flow System (SIE-BC) and access to the CabiĂşnas Gas Treatment Unit (UTGCAB). With the signing of these contracts, Equinor will be able to transport natural gas from the Roncador […]
Petrobras on Remuneration Payment to ShareholdersÂ
(Petrobras, 27.Dec.2023) — Petrobras, following up on the Material Facts of 1 Mar. 2023, 27 Apr. 2023 and 22 Dec. 2023, will pay today the third installment of the remaining remuneration to shareholders for 2022. The gross amount to be distributed is R$ 0,56252157 per common and preferred share in […]
Argentina’s Milei to Prohibit Rehiring Public Workers
(Energy Analytics Institute, 26.Dec.2023) — Argentina’s president Javier Milei published a decree that prohibits the renewal of jobs of public workers hired in 2023. The decision is part of adjustments by Milei intended to reduce state spending, Venezuela’s daily El Universal reported 26 Dec. 2023 citing data from Argentina’s La […]
Petrobras on Obligation Breach at CarmĂłpolis Cluster
(Petrobras, 26.Dec.2023) — Petrobras, following up on the material fact disclosed on 20 Dec. 2022, informs of the non-compliance with the contractual payment obligation of Carmo Energy and its parent company COBRA INSTALACIONES Y SERVICIOS, S.A., as guarantor, related to the sale of all of its stakes in the set […]
![Petrobras Approves Social Responsibility Policy [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/01/2019-06-13T121153Z_1843444331_RC1C8E60F850_RTRMADP_2_PETROBRAS-CORRUPTION.jpg)
Petrobras Approves Social Responsibility Policy [PDF Download]
(Petrobras, 26.Dec.2023) — Petrobras‘ Board of Directors approved a new Social Responsibility Policy, in line with best practices, after an extensive listening process with the participation of the company’s various stakeholders. The main changes include: Total attention to people, respect, promotion and due diligence in human rights, effective management of […]
Petrobras Starts Equatorial Margin Drilling
(Petrobras, 23.Dec.2023) — Petrobras has started drilling the Pitu Oeste (RN) well today, which marks the resumption of the company’s search for oil and gas in the Equatorial Margin, a region that stretches along the Brazilian coast from the state of Rio Grande do Norte to Amapá. The drilling of […]
Petrobras to Analyze Mubadala Capital Proposal
(Petrobras, 22.Dec.2023) — Petrobras has received a communication from Mubadala Capital proposing the formalization of recent discussions on the formation of a potential strategic partnership for the development of downstream in Brazil, in continuity with the memorandum of understanding released on 4 Sep. 2023. The initiative has as its scope […]
Petrobras on Dividend Payments
(Petrobras, 22.Dec.2023) — Petrobras, following up on the press releases published on 03/01/2023 and 04/27/2023, informs that it will pay next week, on 12/27/2023, the third installment of the complementary dividends referred to the 2022 fiscal year, based on shareholding position as of 04/27/2023, in connection to the Material Fact […]
Petrobras Informs on Petros Plan Equalization
(Petrobras, 22.Dec.2023) — Petrobras informs that its Board of Directors approved, at a meeting held today, the Deficit Equalization Plan for 2022 (PED-2022) of the Non-Renegotiated Petrobras System Petros Plan (PPSP-NR) and its submission for consideration by the Secretariat for Coordination and Governance of State-Owned Enterprises (SEST). The PED-2022 provides […]
The Energy Chamber: Dragon Deal a Historic Achievement
(Trinidad and Tobago Energy Chamber, 22.Dec.2023) — The Ministry of Energy and Energy Industries has announced that the Bolivarian Republic of Venezuela has granted the license for the Dragon Gas Field to The National Gas Company of Trinidad and Tobago Limited and Shell to develop and produce gas for export […]
Trinidad Inks Gas Deal with Venezuela
(Trinidad and Tobago Ministry of Energy and Energy Industries, 22.Dec.2023) — Historic and unprecedented energy deals for Trinidad and Tobago that provide us with positive outlooks for our future, the Honorable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister […]
Petrobras Updates on Asset Divestments
(Petrobras, 21.Dec.2023) — Petrobras, following up on the releases disclosed on 09/08/2021, 10/27/2021 and 03/29/2023, informs that it has signed today, with Enauta Energia S.A., contracts for the assignment of its entire stake in the Uruguá and TambaĂş fields, in deep waters in the post-salt, located in the Santos Basin. […]
Luca Mining Closes CAD$2mn Private Placement
(Luca Mining, 21.Dec.2023) — Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) closed the CAD $2mn non-brokered private placement (announced on 6 Dec. 2023. In total, the company sold an aggregate of 5,714,286 units of the company at a price of CAD$0.35 per Unit for gross proceeds of CAD$2mn. In addition to the base CAD$2mn funding, Luca […]
Ecopetrol Publishes Measures for Jan. 2024 Meeting
(Ecopetrol, 21.Dec.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that in order to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendency of Colombia (E.C. 029 of 2014), the Board of Directors of Ecopetrol approved the implementation of measures aimed at […]
Tice Family on Release of US Prisoners from Venezuela
(National Press Club, 21.Dec.2023) — Following is a statement via the National Press Club from the family of long-detained journalist Austin Tice, on the release of 10 imprisoned Americans in a prisoner swap with Venezuela. “The news of the release of the US hostages from Venezuela is uplifting and encouraging. No doubt a joyful […]
Volvo Delivers First Electric Trucks in LatAm
(Volvo, 20.Dec.2023) — Volvo Trucks has delivered eight heavy electric trucks to customers in Brazil, Chile and Uruguay. These orders represent Volvo’s first sales of zero-exhaust emission trucks to Latin America. Volvo Trucks is continuing to enter new markets with its battery electric trucks. The company has now delivered its first […]
Venezuela grants Dragon gas field license
HOUSTON, TEXAS (Piero Stewart, Energy Analytics Institute, 20.Dec.2023) — The National Gas Company of Trinidad and Tobago (NGC) and Shell were granted a license for the exploration and exploitation of non-associated gas in the Dragon field, located in Venezuela’s Paria peninsula. The license was granted during a signing ceremony in […]
GoGold Completes Construction of Zinc Circuit at Parral
(GoGold, 19.Dec.2023) — GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) announces the financial results for the year ending 30 Sep. 2023, with Parral generating $30mn (all amounts are in U.S. dollars) from the sale of 1.4 million silver equivalent ounces. “As we look forwards towards 2024 and the opportunity for value creation for GoGold shareholders, it […]
Brazil Long-Term Ratings Upgraded To ‘BB’ From ‘BB-‘
 (S&P Global, 19.Dec.2023) — S&P Global Ratings raised its long-term global scale ratings on Brazil to ‘BB’ from ‘BB-‘. The outlook on the long-term ratings is stable. We affirmed Brazil’s global scale short-term ratings at ‘B’ and our national scale long-term rating at ‘brAAA’. We also raised the transfer and […]
Perenco Brazil Announces First Oil to FSO Pargo
(Perenco, 19.Dec.2023) — Perenco Brazil announced that first oil to the Floating Storage and Offloading (FSO) vessel, “FSO PARGO”, has been successfully received following issuance of all operational licensing from the Brazilian regulatory authorities earlier in Dec. 2023. The vessel’s operational start-up is the culmination of significant workstreams from Perenco’s […]
QatarEnergy Inks PSCs for Offshore Suriname Blocks
(QatarEnergy, 15.Dec.2023) — QatarEnergy signed two Production Sharing Contracts (PSCs) for Suriname’s offshore Blocks 64 and 65, which it had won during a bid round held in June 2023. Pursuant to the signed contracts, QatarEnergy will own a 30% working interest in block 64, while TotalEnergies (the operator) will own […]
TotalEnergies Expands Presence in Suriname with New License
(TotalEnergies, 15.Dec.2023) — TotalEnergies and its partners QatarEnergy and Petronas signed a production sharing contract for Block 64 with Staatsolie Maatschappij Suriname, the state-owned oil company of Suriname. “TotalEnergies is delighted to expand further its presence in offshore Suriname, together with two strategic partners. This new block fits well with […]
Petrobras Inks New Deal with Bolivia’s YPFB
(Petrobras, 15.Dec.2023) — Petrobras, further to the announcements made on 24 May 2022 and 5 Aug. 2022, informs that, after complying with internal governance procedures, it has signed a new amendment to the natural gas purchase agreement with Yacimientos PetrolĂferos Fiscales Bolivianos (YPFB). The amendment signed today changes the delivery […]
Petrobras on First Installment of Remuneration to Shareholders
(Petrobras, 15.Dec.2023) — Petrobras, following up on the Material Fact of 08/03/2023, informs that it will pay today the first installment of the remuneration to shareholders for the second quarter of 2023. The gross amount to be distributed today is R$ 0.574652 per common and preferred share in the form […]
Petrobras Updates on Divestment of Stake in UEG Araucária S.A. (UEGA)
(Petrobras, 15.Dec.2023) — Petrobras, following up on the release disclosed on 27 Oct. 2023, informs that it has closed the competitive process for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA), together with the sale of the stakes of its partners, Companhia Paranaense […]
Brazilian Bid Round Opens New Offshore Frontier in Pelotas Basin
(WoodMac, 14.Dec.2023) — A total of 193 blocks were auctioned in Brazil’s December 13 oil and gas licensing round, 192 under concession and one under production sharing agreement, signaling strong optimism for the industry, according to Wood Mackenzie. Highlights from these bid rounds included: The total amount in bonuses was […]
S&P Global Releases its 2024 Energy Outlook
(S&P Global, 14.Dec.2023) — Analysts at S&P Global Commodity Insights, an independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities, energy and energy transition markets, today released their latest 2024 energy outlook. OVERVIEW After years of turbulence, global markets are still striving to find sustainable […]
Joint Declaration between Guyana and Venezuela
(CELAC, 14.Dec.2023) — On Thursday, 14 Dec. 2023, in Argyle, Saint Vincent and the Grenadines, His Excellency Irfaan Ali, President of the Co-operative Republic of Guyana and His Excellency Nicolas Maduro, President of the Bolivarian Republic of Venezuela held discussions on matters consequential to the territory in dispute between their […]
Guyana, Venezuela agree to not use force in Essequibo spat
(Reuters, 14.Dec.2023) — Guyana and Venezuela on Thursday agreed to avoid any use of force and to not escalate tensions in their long-running dispute over the oil-rich Esequibo area after a meeting between their heads of state in Saint Vincent and the Grenadines. The 160,000-square-km (62,000-square-mile) region is generally recognized […]
Petrobras Reveals Results of ANP Bidding Process
(Petrobras, 13.Dec.2023) — Petrobras has acquired 29 blocks in the Pelotas basin in the 4th Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Petrobras acquired blocks P-M-1739, P-M-1737 and P-M-1797 in partnership with CNOOC Petroleum Brasil Ltda and Shell Brasil PetrĂłleo Ltda. The consortium […]
Petrobras Greenlights Deal with Eletrobras
(Petrobras, 12.Dec.2023) — Petrobras‘ Board of Directors, in a meeting held on 11 Dec. 2023, approved a judicial settlement regarding the collection of differences in monetary correction and interest on Eletrobras‘ Compulsory Loan. Conditional on judicial approval, the agreement provides for the payment to Petrobras of R$1.2bn within 5 working […]
Tensions Soar Between Guyana and Venezuela over Essequibo
(AP, 9.Dec.2023) — A century-old territorial dispute deepened by the discovery of oil is boiling over between neighbors Guyana and Venezuela. Steeped in patriotism, the Venezuelan government is seizing on the fight to boost support ahead of a presidential election among a population fed up with a decadelong crisis that has pushed […]
Dujiangyan: Changes and Constants in 2279
(The Sichuan Dujiangyan Water Conservancy Development Center, 7.Dec.2023) — As 2023 comes to a close, international students from countries such as France, Canada, Colombia are gearing up to visit Dujiangyan to experience its hydraulic culture. Now 2279 years old, known as the “originator of world hydraulic culture,” Dujiangyan reveals its changes and constants to visitors […]
Venezuela Issues Arrest Warrants for Opposition Staffers for Treason
(Reuters, 6.Dec.2023) — Venezuela’s attorney general on Wednesday said there are arrest warrants for three people involved in the campaign of opposition presidential nominee Maria Corina Machado, for crimes including treason. A lawyer for Machado’s Vente Venezuela party said the three people have always acted correctly. The warrants for Henry […]
Chevron Reveals $16bn Capex Budget for 2024
(Chevron, 6.Dec.2023) — Chevron Corporation (NYSE: CVX) announced an expected organic capital expenditure range of $15.5bn to $16.5bn for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3bn for 2024. Upstream spending in 2024 is expected to be about $14bn. Of this planned expenditure, two-thirds […]
Secretary Blinken’s Call with Guyana’s President Irfaan Ali
(US Treasury, 6.Dec.2023) — Secretary of State Antony J. Blinken spoke with Guyanese President Dr. Mohamed Irfaan Ali to reaffirm the United States’ unwavering support for Guyana’s sovereignty. The Secretary reiterated the United States’ call for a peaceful resolution to the dispute and for all parties to respect the 1899 arbitral […]
Maduro Orders Immediate Oil and Gas Exploration in Disputed Territory
(Voice of America, 6.Dec.2023) — Venezuelan President Nicolas Maduro has ordered state-owned oil, gas and mining companies to “immediately” begin operations in a wide territory controlled by neighboring Guyana. Maduro issued the order Tuesday, two days after Venezuleans voted overwhelmingly to approve a referendum that would annex the 160,000-square kilometer […]
Energy Chamber Welcomes News of Atlantic Restructuring Agreement
(The Energy Chamber of Trinidad & Tobago, 6.Dec.2023) — The Energy Chamber of Trinidad & Tobago welcomes the news of the final signing of the Atlantic restructuring agreement. The Energy Chamber would like to thank and compliment the negotiating teams from bpTT, Shell, the National Gas Company of Trinidad and […]