Latin America and the Caribbean Archives - Page 76 of 220

CGG, TGS Announce Foz do Amazonas Phase II

(CGG, 4.Jan.2023) — CGG, a global technology and HPC leader, and TGS, a global provider of energy data and intelligence, today announced the second phase of the Foz do Amazonas 3D multi-client survey, located in the offshore Brazil Equatorial Margin. This survey, covering 11,425 sq km, will broaden the region’s […]

Energy Analytics Institute’s NRGBriefs: December 2022

(Energy Analytics Institute, 31.Dec.2022) — Energy briefs as well as others related to finance and politics during December 2022 including Washington’s easing of sanctions on Venezuela resulting in increased US imports of that heavy/sour crude; twin-island country Trinidad and Tobago eying its annual energy conference in Port of Spain; Savannah […]

Ecopetrol Informs Petition on the Collective Bargaining Agreement

(Ecopetrol, 30.Dec.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that company’s coexisting unions filed a petition on the current Collective Bargaining Agreement. Ecopetrol also filed today a partial petition before the Ministry of Labor. The company’s current Collective Bargaining Agreement, covering Ecopetrol’s direct workers, was initially signed in 2018 for a […]

Chevron Sending Two Oil Tankers to Venezuela Under US Approval

(Reuters, 30.Dec.2022) — U.S. oil company Chevron Corp (CVX.N) is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data. On Friday, a Chevron-chartered vessel approached […]

Petrobras News in the Media

(Petrobras, 30.Dec.2022) — Petrobras, regarding the pieces of news in the media about expectations of new adjustments in fuel prices, clarifies that adjustments in product prices are made in the normal course of its business and follow its current commercial policies. Petrobras reiterates its commitment to the practice of competitive […]

Petrobras on Naming of New CEO

(Petrobras, 30.Dec.2022) — Petrobras, in relation to the news published in the media, clarifies that it has not yet been formally communicated of the nomination of Mr. Jean Paul Prates for the presidency of the company. Following the usual procedures for nominating the company’s managers, the nominee’s name must go […]

Diesel Prices in 2023? Don’t Expect Much Relief

(Investor’s Business Day, 29.Dec.2022) — U.S. diesel prices hit all time highs in 2022 as demand surged and supplies of the critical heating and transportation fuel tightened. However, analysts expect diesel prices to come down in 2023, even as supplies will remain tight. So Ed, why don’t we start with […]

Trinidad Ready to Reject BP, Shell Offshore Exploration Bids

(Reuters, 28.Dec.2022) — Trinidad and Tobago is preparing to reject four offshore exploration bids by BP Plc (BP.L) and Shell Plc (SHEL.L), according to people familiar with the matter, because they failed to meet the government’s minimum requirements. The island nation’s government plans to pursue talks with the two oil and gas companies […]

Exchange Offers for Venezuelan Government and PDVSA Bonds

(Canaima Fund Lux, 28.Dec.2022) — Canaima Fund Lux (“Issuer“), a securitization fund governed by the Luxembourg Law of 22 March 2004 on securitization undertakings, registered under number O27, and more precisely for and on behalf of the compartment named Canaima I (“Compartment“), with identification number ISIN XS2540585481 represented and managed by Canaima Capital Lux S.àr.l.arl, a […]

Open Uruguay Round: Second Instance 2022

(ANCAP, 26.Dec.2022) — As a result of the Open Uruguay Round process approved by Decree 111/019, three bids for the exploration and production of hydrocarbons for two offshore areas of Uruguay were received in the second instance of 2022 (OFF-4 and OFF-5). YPF (www.ypf.com) submitted bids for areas OFF-4 and […]

LatAm Politics Today from Argentina to Peru

(Reuters, 23.Dec.2022) — The latest in Latin American politics today: ex-ministers in Peru recount Castillo’s dramatic final day, U.S. court rejects Maduro ally’s bid to dismiss charges, CEO of Brazil’s Petrobras to resign before end of April, and Panama aims to reach ‘fair’ deal with miner First Quantum. Argentine president […]

Broxel Releases First Emissions Report

(Broxel, 22.Dec.2022) — Broxel, a leading FinTech company in Latin America, released its first emissions report as part of the company’s commitment to become carbon neutral. The inaugural report includes Scope 1, 2, and 3 greenhouse gas (GHG) emissions, and outlines the company’s plan to meet climate targets. “This emissions report […]

Petrobras on Divestment of UEG Araucária S.A. Stake

(Petrobras, 22.Dec.2022) — Petrobras, following up on the release disclosed on 12 July 2022, informs that its Executive Board approved adjustments to the competitive process for the sale of all of its 18.80% stake in UEG Araucária S.A. (UEGA), with the end of the current phase and the restart of […]

Petrobras Concludes Divestment of Papa-Terra Field

(Petrobras, 22.Dec.2022) — Petrobras, following up on the release disclosed on 12 July 2021, informs that today it concluded the sale of the totality of its stake in the PapaTerra production field, located in the Campos Basin, to the company 3R Petroleum Offshore S.A. (3R Offshore). The operation was concluded […]

Open Uruguay Round [PDF Download]

(Energy Analytics Institute, 22.Dec.2022) — South America’s Uruguay, a reliable country where above ground risks are minimized, is offering excellent opportunities for companies to acquire an asset with extremely low exploratory program requirements. Details follow ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.

Petrobras on the Start of P-71 Production

(Petrobras, 21.Dec.2022) — Petrobras put into operation, this 21 December 2022, the P-71 platform vessel, installed in the Itapu field, in the Santos Basin pre-salt area, 200 km off the coast of Rio de Janeiro. The start of production has been anticipated, as it was originally scheduled for 2023. From […]

Pemex Lays Out Strategic Plan 2023-27 [PDF Download]

(Energy Analytics Institute, 21.Dec.2022) — Mexico’s state-owned energy giant Pemex revealed its Strategic Plan for 2023-2027 with production growth targets among others for the five-year period. ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.

Rubio, Risch Introduce Legislation to Strengthen US-Venezuela Policy

(Marco Rubio, 20.Dec.2022) — In response to the Biden Administration’s policy of concessions to the criminal Maduro narco-regime, U.S. Senators Marco Rubio (R-FL) and Jim Risch (R-ID) introduced the Venezuelan Democracy Act. The bill would require the President to certify that Venezuela has made tangible steps toward re-establishing democracy and the […]

Petrobras on Divestment of Araucária Nitrogenados S.A.

(Petrobras, 19.Dec.2022) — Petrobras, following up on the release disclosed on 30 October 2020, informs that, observing the applicable internal governance, the termination of the competitive process for the sale of all its shares in the wholly owned subsidiary Araucária Nitrogenados S.A. (ANSA), which was in the binding phase, was […]

TotalEnergies Wins New Exploration License in Brazil

(TotalEnergies, 19.Dec.2022) — TotalEnergies, and its co-venturers QatarEnergy and Petronas Petróleo Brasil Ltda (PPBL) have won the Agua Marinha block today in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP). Petrobras has exercised their right to take 30% Participating Interest and Operatorship. […]

Hess CEO to Participate in Goldman Sachs Global Conference

(Hess, 19.Dec.2022) — Hess Corporation (NYSE: HES) announced that John Hess, Chief Executive Officer, will participate in a Fireside Chat at the Goldman Sachs Global Energy and Clean Technology Conference on 5 January 2023 at 10:20 a.m. Eastern Time. A live webcast and a replay of the discussion will be accessible via Hess Corporation’s website. Hess Corporation is a leading global […]

Phoenix Park Acquires Minnesota Terminal

(PPGPL, 16.Dec.2022) — On 13 December 2022 Phoenix Park Gas Processors Limited (PPGPL) through its wholly owned subsidiary Phoenix Park Energy Marketing LLC (PPEM), completed its acquisition of a propane terminal located in Rush City Minnesota. The terminal was purchased from Interstate Fuel & Energy, LLC, a subsidiary of Interstate […]

Guyana: From Backwater to Deepwater

(Foreign Policy, 16.Dec.2022) — Most South American economies have grown sluggishly this year. But Guyana has been an outlier—both in the region and the world at large. The small country is on track to boast the globe’s highest GDP growth rate of 2022—a staggering 57.8 percent—thanks to steadily rising output from […]

Tesla to Announce Mexico EV Plant as Soon as Next Week

(Reuters, 16.Dec.2022) — Tesla Inc (TSLA.O) is finalizing plans to build an electric vehicle assembly plant in an industrial area of northeastern Mexico and may announce the factory as early as next week, Bloomberg News reported late Friday. The plant will be located in Santa Catarina in Monterrey city, the capital of […]

1st Cycle of Permanent Sharing Offer: Collection 72% of Maximum

(ANP, 16.Dec.2022) — The 1st Cycle of the Permanent Production Sharing Offer (OPP), held today 16 December 2022 by the ANP, had four blocks auctioned, out of the 11 on offer, generating R$ 916,252,000.00 in signature bonuses (72 % of maximum possible). In addition, R$ 1.44bn in investments are foreseen by […]

Brazil Bid Round Alert: Welligence

(Welligence, 16.Dec.2022) — Brazil bid round alert! The first PSC Permanent Offer round was held today, with 4 of the 11 blocks on offer in the Santos and Campos basins awarded. The involvement of large international companies is encouraging, but most of the acreage awarded was lower risk, including areas […]

Petrobras on ANP 1st Cycle Auction Result

(Petrobras, 16.Dec.2022) — Petrobras acquired the Sudoeste de Sagitário, Água Marinha and Norte de Brava blocks in the 1st Cycle of Permanent Production Sharing Offer of the National Petroleum, Natural Gas and Biofuels Agency (ANP). Petrobras has acquired the Sudoeste de Sagitário block in partnership with Shell Brasil. The consortium […]

Great Panther Makes Voluntary Assignment into Bankruptcy

(Great Panther, 16.Dec.2022) — Great Panther Mining Limited (OTCPK: GPLDK) made a voluntary assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada) (the “BIA”) following the Supreme Court of British Columbia granting an order terminating of its proceedings under Companies’ Creditors Arrangement Act (Canada) (the “CCAA”). Alvarez & Marsal Canada Inc. was appointed licensed insolvency […]

Guyana Presidential Guard Stabbed by Attacker at Official Residence

(Reuters, 15.Dec.2022) — A presidential guard in Guyana was stabbed five times in capital Georgetown on Thursday by a man who demanded to see President Irfaan Ali after arriving at his official residence, police said. The president and his family are safe, and the area around State House, the president’s […]

Saipem Awarded Deals for $1.2bn in Guyana, Egypt

(Saipem, 15.Dec.2022) — Saipem has been awarded new contracts in Guyana and Egypt for a total amount of approximately $1.2bn. In Latin America: Guyana The first contract has been awarded by ExxonMobil Guyana, subject to government approvals, for the UARU oil field development project, located in the Stabroek block offshore Guyana […]

Trinidad and Tobago Energy Conference 23-25 January 2023

(Trinidad and Tobago Energy Chamber, 15.Dec.2022) — The Trinidad and Tobago Energy Conference takes place at the Hyatt Regency in Port of Spain from 23-25 January 2023. Background The oil and gas industry has a central role to play in the energy transition globally, regionally and locally. Over the past […]

Awalé Files Technical Report For NW Goliath Project in Suriname

(Awalé, 15.Dec.2022) — Awalé Resources Limited (TSXV: ARIC) has filed a technical report regarding the Northwest Goliath Project in Suriname. This prospective gold project, along trend from the Rosebel Mine in Suriname, forms part of the acquisition of Colossal Gold Resources Limited by Awalé (the “acquisition”) pursuant to a letter […]

Petrobras on the CDP

(Petrobras, 14.Dec.2022) — Petrobras has become part of the list of global companies that stand out in climate change mitigation actions, as announced by the international organization CDP, formerly known as the Carbon Disclosure Project. The company received an A- rating in recognition of its good practices on this topic […]

Contract Inked for $759mn Wales Natgas Plant

(DPI, 13.Dec.2022) — The Government of Guyana and LINDSAYCA/CH4 on Tuesday signed the contract for the construction of the integrated natural gas liquids (NGL) Plant and the 300-megawatt (MW) combined-cycle gas turbine (CCGT) power plant at Wales, West Coast Demerara (WCD), Region Three. The historical signing of the contract for […]

Petrobras on the Bahia Terra Cluster

(Petrobras, 12.Dec.2022) — Petrobras informs that, after an audit carried out by the National Agency of Petroleum, Natural Gas, and Biofuels (ANP), it received, on 12 December 2022, an interdiction notice for the shutdown of operations in 37 onshore oil and gas production facilities in Bahia. The company is taking […]

Guyana Launches First Licensing Round for Offshore Oil and Gas E&P

(Ministry of Natural Resources, 9.Dec.2022) — The government of Guyana, today, for the very first time, is announcing the launch of a Licensing Round. The round offers 14 blocks for tender in the shallow and deepwater areas of Guyana’s offshore area. Highlights 14 blocks for tender for shallow water and […]

President Ali Launches Bid Round for Offshore Blocks

(Office of the President of Guyana, 9.Dec.2022) — His Excellency Dr Irfaan Ali announced the launch of a competitive bidding process for 14 offshore oil blocks. The Head of State made this announcement during a virtual statement today from State House. “As you’re aware, we have committed that the new […]

Ecopetrol Group to Accelerate Energy Transition, Energy Security

(Ecopetrol, 9.Dec.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that its Board of Directors approved the 2023 general organic investment plan for the Ecopetrol Group for an estimated amount between COP 25.3tn and COP 29.8tn. Individual investment projects will be evaluated in due course by the Board of Directors according to their materiality. The […]

ExxonMobil Reveals Corporate Plan 2027

(Exxon, 8.Dec.2022) — ExxonMobil today announced its corporate plan for the next five years, with a sizeable increase in investments aimed at emission reductions and accretive lower-emission initiatives, including its Low Carbon Solutions business. The corporate plan through 2027 maintains annual capital expenditures at $20bn-$25bon, while growing lower-emissions investments to […]

Peru’s President Ousted by Congress in Political Crisis

(AP, 7.Dec.2022) — The president of Peru was ousted by Congress and arrested on a charge of rebellion Wednesday after he sought to dissolve the legislative body and take unilateral control of the government, triggering a grave constitutional crisis. Vice President Dina Boluarte replaced Pedro Castillo and became the first […]

Clara Liliana Guatame Aponte Takes the Helm at Colombia’s ANH

(Energy Analytics Institute, 7.Dec.2022) — Colombia’s Minister of Mines and Energy Irene Vélez Torres welcomed Clara Liliana Guatame Aponte as the new president of the National Hydrocarbons Agency (ANH). The act took place in Bogotá on 7 December 2022, the ANH announced on a statement on its website. ____________________ By […]

PGS and TGS Expand MultiClient Coverage Offshore Brazil

(PGS, 7.Dec.2022) — PGS, in collaboration with TGS, has secured pre-funding for the Santos Sul MultiClient 3D project in the southwest Santos Basin offshore Brazil. The PGS/TGS collaboration combines the operational and technical strengths of both companies to provide high quality MultiClient data and timely delivery, which are critical to […]

Energy Chamber on Restructuring of Atlantic by Shareholders

(The Energy Chamber of Trinidad & Tobago, 6.Dec.2022) — The Energy Chamber of Trinidad & Tobago warmly welcomes today’s signing of agreements between bp, Shell, The National Gas Company of Trinidad and Tobago Limited (the Atlantic shareholders) and the Government of Trinidad & Tobago for the restructuring of the Atlantic […]

Remarks at announcement of Atlantic LNG restructuring agreement

PORT OF SPAIN, TRINIDAD AND TOBAGO (NGC, 6.Dec.2022, Words: 765) — Remarks at announcement of Atlantic LNG Restructuring agreement by the NGC President Mark Loquan. Dr. the Honourable Keith Rowley, Prime Minister of Trinidad and Tobago The Honourable Stuart Young, Minister of Energy and Energy Industries and Minister in the […]

David Campbell at Atlantic LNG HoA Signing

(bpTT, 6.Dec.2022) — bpTT President David Campbell speaks about the deal between BP Plc, Shell Plc, The National Oil Company of Trinidad and Tobago (NGC) and Chinese Investment Corporation (CIC). Good morning It is my honour to take part in today’s event as we mark a very important milestone for […]

Shunned Over War, Russians Holiday on Venezuelan Resort Island

(Agence France-Presse, 6.Dec.2022) — Venezuela: Shuttled between tourist spots, posing for pictures on beautiful beaches, and dancing awkwardly to merengue: Russian tourists have found a friendly holiday destination on a Venezuelan island far from the motherland and its war with Ukraine. Isla de Margarita is a tropical gem with white-sand […]

Could A Controversial Chevron Deal Be A Prelude To Venezuela’s Oil Renaissance?

(Forbes, 2.Dec.2022) — A video that state-owned oil giant Petróleos de Venezuela posted to its Twitter feed this week shows a jovial meeting between Oil Minister Tarek El Aissami and Javier La Rosa, Chevron’s CVX country head. The clip shows La Rosa arriving at what looks to be Aissami’s offices, the two laughing, […]

Hess and Guyana’s Gov’t Announce REDD+ Carbon Credits

(Hess, 2.Dec.2022) — Hess Corporation (NYSE: HES) and the Government of Guyana today announced an agreement for Hess to purchase high quality carbon credits for a minimum of $750mn between 2022 and 2032 directly from the Government of Guyana. This agreement will serve to support Guyana’s efforts to protect the country’s vast forests and provide capital […]

Guyana to Earn $750mn in First Carbon Credit Sale

(DPI, 2.Dec.2022) — Guyana is set to earn an income of some US $750 million for its carbon credit from Hess Corporation, His Excellency, Dr Mohamed Irfaan Ali announced Friday morning. The major deal between the government and the global energy giant will see the company purchasing 2.5 million carbon […]

Chevron unlikely to invest more in Venezuela in short term

(Reuters, 1.Dec.2022, Words: 380) — Chevron Corp is unlikely to add investment in Venezuela in the next six months despite a recent U.S. license to allow it to expand its operations in the South American country, Chief Executive Michael Wirth said on Thursday. U.S. President Joe Biden’s administration last week […]