Latin America and the Caribbean Archives - Page 66 of 220

Venezuela Moves to Claim Guyana-Controlled Region

(BBC, 6.Dec.2023) — Venezuelan President Nicolás Maduro is plunging ahead with its plans to take over Essequibo, the oil-rich region controlled by neighbouring Guyana. He has ordered the state oil company to issue extraction licences there and proposed the National Assembly pass a bill making the area part of Venezuela. […]

ExxonMobil on Earnings from 2019-2027 [PDF Download]

(ExxonMobil, 6.Dec.2023) — ExxonMobil gave an update to its Corporate Plan through 2027, reflecting continued execution of its strategy to provide the products society needs and to lower emissions, both its own and others’. Highlights: Expecting capital investments to generate average returns of ~30%, with payback periods less than 10 years for […]

Maduro to Permit Development in Disputed Territory

(Reuters, 5.Dec.2023) — Venezuelan President Nicolas Maduro said on Tuesday he would authorize oil exploration in an area subject to a dispute with Guyana, which said it would report his comments to the United Nations and the International Court of Justice (ICJ). Maduro’s pledge to permit development around the Esequibo […]

New Unitized Commercial Structure for Atlantic LNG

(Office of the Prime Minister of Trinidad and Tobago, 5.Dec.2023) — The government has secured a new unitized commercial structure for Atlantic LNG which allows the National Gas Company of Trinidad and Tobago (NGC) to obtain a greater share in the revenue derived from the sale of LNG on the […]

Fact sheet: Argentina’s Vaca Muerta formation [Videos]

(Aaron Simonsky, Energy Analytics Institute, 4.Dec.2023) — Argentina’s Vaca Muerta shale formation contains an estimated 308 trillion cubic feet (Tcf) of recoverable shale resources and is important for continued economic development of the South America country, according to the government. ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All […]

Rock Tech Secures Offer for Guben Converter

(Rock Tech, 4.Dec.2023) — Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) has received a binding feedstock supply offer from Castelburg Industrie GmbH. Castelburg, a renowned supplier in the automotive industry commits to supply a minimum of 250,000 dry metric tonnes of spodumene concentrate feedstock for the company’s conversion […]

CGX and Frontera on Guyana-Suriname Basin

(CGX, 4.Dec.2023) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana, announced today that on 11 Dec. 2023, at 10 am ET, senior operational and technical team members will host a virtual informational presentation on […]

Petrobras Inks Deal to Install CO2 CCUS Hub

(Petrobras, 4.Dec.2023) — Petrobras has signed, this Sunday (03/12/2023), at COP-28, in Dubai, a protocol of intentions with the Government of the State of Rio de Janeiro for the joint evaluation of the implementation of pilot projects for a CO2 capture and storage hub (the so-called CCUS) in the State of […]

Trinidad PM Rowley Leads Energy Talks with bp in London

(Office of the Prime Minister of Trinidad and Tobago, 4.Dec.2023) — Prime Minister Dr the Hon. Keith Rowley met with bp’s Interim Chief Executive Officer, Murray Auchincloss at the company’s headquarters in London on 4 Dec. 2023. Minister of Energy and Energy Industries and Minister in the Office of the […]

Venezuela votes on disputed Essequibo region

PANAMA CITY, PANAMA (Energy Analytics Institute, 4.Dec.2023) — Venezuelans voted in fair referendum claiming sovereignty over the Essequibo region, a disputed area on Venezuela’s eastern border with Guyana. The region spans roughly 60,000 square miles and is comprised mainly of dense jungle and is rich in oil and mineral reserves.

Venezuela Wins Vote Claiming Part of Guyana

(AP, 4.Dec.2023) — Venezuelan President Nicolás Maduro got the victory he sought in a weekend referendum on whether to claim sovereignty over an oil-rich area of neighboring Guyana. But lackluster turnout suggested his government is losing influence and is tone deaf to people’s needs. Maduro’s government had promoted the referendum […]

Venezuelans Vote on Sovereignty Over Part of Guyana

(CNBC, 4.Dec.2023) — Venezuelans on Sunday voted to claim sovereignty over a large swathe of their oil-rich neighbor Guyana, marking the latest escalation in a long-standing territorial dispute between the countries. Voters were asked if they supported the establishment of a new state in the contested area, known as the Essequibo. […]

Rainforest Nations Back Projects Funded Through Carbon Market

(Equitable Earth, 3.Dec.2023) — Today at the UN Climate Change Conference (COP28), Ministers and Indigenous leaders from the most important tropical forests in the world spoke at the launch of Equitable Earth – a new voluntary carbon market standard designed to drive climate finance directly to Indigenous peoples and traditional communities. […]

Court Bars Venezuela from Altering Guyana’s Control over Essequibo

(AP, 1.Dec.2023) — The United Nations’ top court on Friday ordered Venezuela not to take any action that would alter Guyana’s control over a disputed territory, but did not specifically ban Venezuela from holding its planned referendum Sunday on the territory’s future. Guyana had asked the International Court of Justice to order […]

Ecopetrol to Invest Between 23tn-27tn Pesos in 2024

(Ecopetrol, 1.Dec.2023) — On 30 Nov. 2023, Ecopetrol‘s Board of Directors approved maintaining investment levels between 23tn and 27tn Colombian pesos in 2024, aligning with the commitment to energy security and the country’s energy transition under the 2040 “Transforming Energy” Strategy. Highlights: Approximately 19tn pesos will be allocated to profitable production, with daily averages […]

Blue Sky Uranium Applies to Extend Warrants

(Blue Sky, 1.Dec.2023) — Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF),has made an application to the TSX Venture Exchange to extend the term of the outstanding warrants as follows: 38,590,654 unexercised Warrants (42,000,077 originally granted) that are set to expire on 11 Jan. and 26 Jan. 2024 to be […]

Southern Cone Market to Invest $46bn in Gas Production

(WoodMac, 30.Nov.2023) — Driven by advances in batteries and lower costs, solar will outpace wind growth rates and become the leading technology for expansion over the next ten years in Argentina, Brazil, and Chile. The total solar market is set to add 48 gigawatts (GW) of utility and distributed projects, […]

EAI’s NRGBriefs: Nov. 2023

(Energy Analytics Institute, 30.Nov.2023) — Energy briefs as well as others related to finance and projects during November 2023 including PDVSA and the French co. Maurel & Prom inking a first framework agreement; Venezuela to hold referendum related to the Essequibo disputed region between Venezuela and Guyana; Colombia’s National Hydrocarbon […]

On the Uses and Misuses of Venezuela Sanctions

(CSIS, 29.Nov.2023) — Over the last month, the Biden administration has presided over a sea change in U.S. policy toward Venezuela. The recent lifting of sanctions on the Maduro regime is the most significant alteration of Venezuela policy in the last several years, coupled with routine deportation flights started on the same day as […]

GoldMining Updates on its São Jorge Gold Project in Brazil

(GoldMining, 29.Nov.2023) — GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) provided an update on exploration activities ongoing at the company’s 100% owned São Jorge gold project, located in Pará State, Brazil. Highlights: São Jorge is located at the center of the Tapajos Gold District, which hosts multiple gold projects including producing […]

President Elect Milei to Shake up Argentina’s Oil Industry

(WooMac, 28.Nov.2023) — Addressing the election of Javier Milei as President of Argentina, Adrian Lara, principal analyst, said “Elected President Javier Milei and his advisors are signalling the importance the oil and gas sector has in their plans for the overall Argentinian economy, however, their success in deregulating the sector […]

Aris Boosts Segovia Gold Reserves by +75%

(Aris Mining, 27.Nov.2023) — Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) announces updated mineral reserve estimates for its Segovia Operations in Colombia effective 30 Sep. 2023 (the “2023 Mineral Reserve”). This updated mineral reserve estimate follows the updated mineral resource estimate announced on 2 Nov. 2023. Aris Mining is also increasing the capacity […]

Vista Updates on LatAm Assets [PDF Download]

(Energy Analytics Institute, 25.Nov.2023) — Vista Energy provided an update on its assets in Argentina and Mexcio while also providing details about its near-term roadmap to achieve its net zero ambitions. ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.

LatAm Upstream Opportunities and Challenges: WoodMac

(WoodMac, 24.Nov.2023) — With nearly 15 billion barrels worth of varied resources discovered in the region since the turn of the decade, the future looks bright for upstream oil and gas in Latin America. Opportunities of all kinds are fuelling stratospheric expectations for Majors, national oil companies (NOCs) and mid-caps […]

NGC Joins IMA in Bid to Save Carli Bay Mangrove

(NGC, 24.Nov.2023) — The National Gas Company of Trinidad and Tobago Limited (NGC) is joining the effort to stem the decline in mangrove health in Trinidad and Tobago. This week, the company signed a Memorandum of Agreement (MoA) with the Institute of Marine Affairs (IMA), to implement a Mangrove Rehabilitation […]

Petrobras Approves Strategic Plan 2024-2028+ [PDF Download]

(Petrobras, 23.Nov.2023) — Petrobras informs that its Board of Directors approved, at a meeting held today, the Strategic Plan for the five-year period 2024-2028 (SP 2024-28+), planning to invest US$ 102 billion over the next five years. The first plan of this administration, the SP 2024-28+ aims to prepare Petrobras […]

Trump Tells President-elect Javier Milei he Plans to Visit Buenos Aires

(AP, 23.Nov.2023) — Former President Donald Trump has told Argentina’s President-elect Javier Milei that he plans to travel to the South American country so the two can meet, Milei’s office said Thursday. The office did not give a date for when Trump intends to be in Buenos Aires. The inauguration of Milei, […]

Corina Machado says Venezuela to end socialism: El Nacional

HOUSTON, TEXAS (Aaron Simonsky, Energy Analytics Institute, 24.Nov.2023, Words: 156) — Vente Venezuela national coordinator and opposition leader María Corina Machado said the next president of the Opec country would be picked by its citizens, according to the daily newspaper El Nacional. “The disqualification doesn’t stop anyone,” the newspaper reported […]

China Slows Venezuela Crude Buys

(Reuters, 23.Nov.2023) — The suspension of U.S. sanctions on Venezuelan oil has rattled its biggest customers, China’s independent refiners, who are now holding off on making new purchases amid wide discrepancies in offer prices, trading sources say. The independent refiners have for years bought Venezuelan oil at steep discounts, but since Washington lifted […]

Ecopetrol Announces New Senior Management Appointments

(Ecopetrol, 22.Nov.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces changes in its senior management team of the Upstream Vice-Presidency to meet challenges in the process of aligning its hydrocarbons exploration and production activities with the energy transition, as follows: 1. Elsa Jeanneth Jaimes is confirmed as Vice President of Offshore, a position she […]

Venezuela Producing 850,000 bpd, Hopes to Recover US Market

(Reuters, 22.Nov.2023) — Venezuela is currently producing some 850,000 barrels per day (bpd) of oil and hopes to soon reach 1 million bpd, the country’s deputy oil minister, Erick Perez, said on Wednesday, following the temporary lifting of U.S. sanctions on the nation. Washington in October issued a license allowing Venezuela to […]

Petrobras on Remuneration Payment to Shareholders

(Petrobras, 21.Nov.2023) — Petrobras, following up on the Material Fact of 08/03/2023, informs that it has paid today the first installment of the remuneration to shareholders for the second quarter of 2023. The gross amount distributed today is R$ 0.209176 per common and preferred share in the form of dividends […]

Argentina’s Incoming Administration Faces Challenges

(S&P Global Ratings, 21.Nov.2023) — Economic imbalances in Argentina provide complex conditions for the Milei administration even before he takes office, S&P Global Ratings said in an article published today titled “Argentina’s Incoming Administration Faces Difficult Economic Policy Implementation.” Javier Milei, of La Libertad Avanza (LLA), won a historic and […]

Petrobras on 3Q:23 Share Value of Dividends and Interest

(Petrobras, 21.Nov.2023) — Petrobras, following the Material Fact of 11/09/2023, informs that, as a result of the share buyback program, there was a change in the number of treasury shares. Thus, the gross value of dividends and interest on equity per share to be paid based on the balance sheet […]

Fitch Maintains Ecopetrol’s Rating at BB+, with Stable Outlook

(Ecopetrol, 20.Nov.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the rating agency Fitch Ratings affirmed the company’s long-term foreign and local currency issuer default rating at “BB+”, with a stable outlook. Additionally, the agency affirmed the company’s national long- and short-term ratings at ‘AAA(col)’ and ‘F1+(col)’, respectively, both with a […]

Vortex Metals in Deal to Buy 80% Interest in Illapel Copper Project

(Vortex Metals, 20.Nov.2023) — Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) signed the definitive agreement with “Windows Minerals SCM and SLM Rio 27 De Farellon Sánchez” (Jointly the optionors) for an option to acquire up to an 80% Interest in the Illapel Copper Project. This follows the letter of […]

The lifting of sanctions and the oil collapse of Venezuela [PDF download]

(Rafael Ramírez, 16.Nov.2023) — On 18 Oct., the US Office of Foreign Assets Control (OFAC)[1] issued Licenses 43 and 44,[2] lifting the sanctions on the Venezuelan oil and mining sector that had been in place since Jan. 2019. The OFAC measure is of a temporary nature, for a period of six months, subject to compliance […]

Ancient Thanksgiving to Pachamama [Photos]

(Mainstream, 16.Nov.2023) — Members of Mainstream’s Chilean team recently honored local indigenous tradition by taking part in a centuries-old ceremony against the backdrop of Tchamma wind farm’s turbines, in the arid northern Atacama Desert. Plant Manager Juan Muñoz, along with Matías Camaño, Natalia Reveco and Sebastián Espinoza of the renewable […]

Mainstream Finalizes Reorganization Process in Chile

(Mainstream, 14.Nov.2023) — Reference is made to previous announcements by Aker Horizons ASA regarding the initiation by Mainstream Renewable Power of Judicial Reorganization Proceedings for Condor Energía SpA and Huemul Energía SpA (“Condor”, “Huemul”, the “Energía companies”) in Chile. Mainstream today announced the conclusion of the proceedings for the Energía companies, part […]

FPSO Prosperity Producing and On Hire

(SBM Offshore, 14.Nov.2023) — SBM Offshore announce that FPSO Prosperity has produced first oil as of 14 Nov. 2023 and is formally on hire. The FPSO Prosperity utilizes a design that largely replicates the design of the FPSO Liza Unity. As such, the design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the […]

Touchstone Updates on Cascadura Field in 3Q:23 Results

(Touchstone, 14.Nov.2023) — Touchstone Exploration Inc. (TSX, LSE: TXP) provided an operational update and reports its operating and financial results for the three and nine months ended 30 Sep. 2023. Paul Baay, President and Chief Executive Officer, commented: “The positive impact that initial output from our Cascadura field has had […]

ExxonMobil Starts Third Offshore Guyana Project Payara

(Exxon Mobil, 14.Nov.2023) — ExxonMobil started production today at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day. Highlights: Company’s third FPSO, Prosperity, starts up ahead of schedule and will add 220,000 barrels of oil per day […]

Petrobras Reports on Favorable Ruling in Labor Case before STF

(Petrobras, 13.Nov.2023) — Petrobras, in continuation of the announcement made on 02/15/2022, informs that, on 11/10/2023, the First Panel of the Federal Supreme Court concluded the judgment of the pending appeals in the lawsuit in which the methodology for calculating the Minimum Remuneration by Level and Regime (RMNR) supplement is […]

Exmar Updates on Panama Canal Delays in 3Q:23 Results [PDF Download]

(Exmar, 10.Nov.2023) — The Executive Committee of EXMAR NV reported its third quarter results of 2023, including comments on delays crossing the Panama Canal, BW Tokyo and Tango FLNG. _________________

YPF Reports Rise in 3Q:23 Production [PDF Downloads]

(YPF, 9.Nov.2023) — Argentina’s YPF SA reported total hydrocarbon production averaged 520 Kboe/d in the third quarter 2023, up 1% sequentially and up 3% on a year-on-year basis, mainly boosted by the expansion of 5% in our crude oil production. ____________________

Citgo Exits 3Q:23 with Liquidity of $3.86bn

(Citgo, 9.Nov.2023) — Citgo Petroleum Corporation reported its 2023 third quarter financial and operational results. Highlights: Net income of $567mn and EBITDA 1 of $895mn, compared to net income of $380 mn and EBITDA of $642mn for the second quarter of 2023Adjusted EBITDA 1 for the third quarter was approximately $833mn, which included two special items related to a legal settlement and a […]

Petrobras Reports 3Q:23 Financials [PDF Downloads]

(Petrobras, 9.Nov.2023) — Petrobras reported on its main financial achievements in the third quarter 2023. Highlights: Solid recurring EBITDA of US$13.7bnGross debt under control at US$61bn, even after the increase in leases with the start-up of FPSO Anita GaribaldiConsistency in cash generation: Operating Cash Flow of US$11.6bn, the fourth highest […]

Petrobras on Remuneration to Shareholders

(Petrobras, 9.Nov.2023) — Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of dividends and interest on own equity in the amount of R$17.5bn, as anticipation for 2023, declared based on the balance sheet of 30 Sep. 2023. The approved proposal is in line […]

Frontera Updates on Colombia and Guyana

(Frontera, 9.Nov.2023) — Frontera Energy Corporation (TSX: FEC) reported financial and operational results for the third quarter ended 30 Sep. 2023. All financial amounts in this news release are in United States dollars, unless otherwise stated. Gabriel de Alba, Chairman of the Board of Directors, commented: “Frontera’s three core businesses continue to deliver […]

CGX and Frontera Report Find Offshore Guyana

(Frontera, 9.Nov.2023) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), the majority shareholder of CGX and joint venture partner of CGX in the Petroleum Prospecting License for the Corentyne block offshore Guyana, are pleased to announce today the discovery of a total of 114 feet (35 meters) […]