Latin America and the Caribbean Archives - Page 78 of 220

Petrobras on Leniency Agreements

(Petrobras, 1.Nov.2022) — Petrobras informs that it received, over the last quarter, the devolution of about R$439mn, recovered through leniency agreements with Camargo Corrêa, Novonor S.A. (formerly known as Odebrecht S.A.) and SBM, as well as Pedro Barusco’s collaboration agreement. With these devolutions, the total amount of funds transferred to […]

NGC on Reporting Under the Oil and Gas Methane Partnership

(NGC, 31.Oct.2022) — The concerted efforts of The National Gas Company of Trinidad and Tobago Limited (NGC) to address and report on methane emissions from its business, have led to the company’s achievement of Gold Standard status of reporting under the global Oil and Gas Methane Partnership 2.0 (OGMP 2.0). This […]

Petrobras on Coparticipated Area of Sépia

(Petrobras, 31.Oct.2022) — Petrobras confirms a discovery of oil in the Coparticipated Area of Sépia with the drilling of well 4-BRSA-1386D-RJS, in the northwestern part of the field. The well is located 250 km south of the city of Rio de Janeiro, under a water depth of 2197 meters, and […]

Energy Analytics Institute’s NRGBriefs: October 2022

(Energy Analytics Institute, 31.Oct.2022) — Energy briefs as well as others related to finance and politics during October 2022 including US President Joe Biden congratulating Luiz Inácio Lula da Silva on his election victory in Brazil over Jair Bolsonaro; Equinor inviting analyst to provide estimate for the third quarter of […]

ExxonMobil Reveals Two New Guyana Finds

(ExxonMobil, 26.Oct.2022) — ExxonMobil announced two discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, adding to its extensive portfolio of development opportunities. ExxonMobil has made more than 30 discoveries on the block since 2015, and it has ramped up offshore development and production at a […]

Hess Reports Estimated 3Q:22 Results

(Hess, 26.Oct.2022) — Hess Corporation (NYSE: HES) reported net income of $515mn, or $1.67 per common share, in the third quarter of 2022, compared with net income of $115mn, or $0.37 per common share, in the third quarter of 2021. On an adjusted basis, the corporation had net income of […]

Hess Announces Two More Discoveries Offshore Guyana

(Hess, 26.Oct.2022) — Hess Corporation (NYSE: HES) today announced two new discoveries at the Yarrow-1 and Sailfin-1 wells on the Stabroek Block offshore Guyana. The discoveries, which are the eighth and ninth this year, will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 11 billion barrels of […]

U.N. Could Administer Over $3bn in Funds to Aid Venezuela

(Reuters, 25.Oct.2022) — Top officials from the U.S. State and Treasury departments are discussing proposals for a fund that could release over $3 billion to provide humanitarian aid to Venezuelans through the United Nations, according to nine people close to the talks. The proposals offer a potential way to revive […]

Wintershall Dea Expands Presence in Mexico

(Wintershall Dea, 24.Oct.2022) — Wintershall Dea signed an agreement with Hokchi Energy, the Mexican subsidiary of Pan American Energy, to acquire a 37% non-operated participating interest in the Hokchi Block, with a conditional option to increase its participation up to 40% at a later stage. Wintershall Dea is thus expanding […]

Washington Eyes Oil Deal with Maduro Regime: Rystad Energy

(Rystad, 24.Oct.2022) — As the supply side of the oil business continues to tighten globally, calls within the US to ease sanctions on what was once one of Latin America’s largest oil producers continue to gain traction. The Biden administration has been putting out smoke signals to the wider market […]

Ecopetrol’s Board of Directors Appointment

(Ecopetrol, 24.Oct.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that at the extraordinary General Shareholder’s Meeting held on 24 October 2022, its Board of Directors was appointed as follows: Non-Independent Representatives: Mónica de Greiff Lindo Gonzalo Hernández Jiménez Independent Representatives: Gabriel Mauricio Cabrera Galvis Carlos Gustavo Cano Sanz Saúl Kattan Cohen Sandra […]

Petrobras Highlights 3Q:22 Production and Sales [PDF Download]

(Petrobras, 24.Oct.2022) — In 3Q22, Petrobras said it kept a solid operating performance, with average production of oil, NGL and natural gas reaching 2.64 MMboed, virtually in line with 2Q22. Results in 3Q22 fully contemplate the impacts of the production sharing contracts related to the Transfer of Rights Surplus Volumes […]

Petrobras on Divestment of Onshore Fiber Optic Network

(Petrobras, 21.Oct.2022) — Petrobras, following up on the release disclosed on 30 September 2022, informs the beginning of the non-binding phase regarding the sale of its onshore fiber optic network. Potential buyers qualified for this phase, beginning today, will receive a process letter containing detailed information about the asset in […]

Fuel Tanker Crash Sparks Huge Blaze in Mexico

(Reuters, 21.Oct.2022) — A dozen people were rescued from burning homes after a tanker truck crashed into a railway overpass in the central town of Aguascalientes A huge blaze erupted in central Mexico after a fuel tanker truck crashed into an overpass by a rail line, scorching homes, engulfing the area in […]

Borr Drilling reveals new 3-year contracts for drilling rigs in Mexico

(Editors at Energy Analytics Institute, 20.Oct.2022) — Borr Drilling Limited announced its joint venture (JV) company in Mexico Perfomex entered into new contracts for the company’s 5 premium jack-up rigs “Galar”, “Gersemi”, “Grid”, “Njord” and “Odin” with OPEX Perforadora S.A. de C.V. and Perforadora Profesional Akal I S.A. de C.V., providers of integrated well services to state-owned Pemex. The contracts are effective from […]

Gold Port Corporation on New Drill Target in Guyana

(Gold Port Corporation, 17.Oct.2022) — Gold Port Corporation (CSE: GPO) (OTCQB: GPOTF) provided a technical update on the Groete Gold Copper Project, located in Guyana, South America. The Groete Gold Copper Project is currently defined by 22 historical drill holes, with both gold and copper mineralization. The known gold portion of the deposit is […]

Iran Starts Refining its Oil in Venezuela: Minister

(Xinhua, 17.Oct.2022) — Iranian Petroleum Minister Javad Owji said on Sunday that Iran has started refining its crude oil in Venezuela, SHANA news agency affiliated to his ministry reported. Iran had started processing some 100,000 barrels per day of its crude in Venezuela’s El Palito refinery, Owji was quoted by […]

Guyana Opens Tender for its First Oil Refinery

(Reuters, 17.Oct.2022) — Guyana has called for proposals to design, finance and build a 30,000-barrel-per-day (bpd) oil refinery, the first for the South American country as it becomes a force in crude oil production. Construction work on the facility, to be located on public land near the Berbice river, is […]

Gold Port on Higher Grade Gold Zone New Drill Target

(Gold Port Corp. 17.Oct.2022) — Gold Port Corporation (CSE: GPO) (OTCQB: GPOTF) provided a technical update on the Groete Gold Copper Project located in Guyana, South America. The Groete Gold Copper Project is currently defined by 22 historical drill holes, with both gold and copper mineralization. The known gold portion of the deposit is […]

Grey, Blue, Green Hydrogen: Colours to cut Trinidad’s Carbon Emissions

(Trinidad and Tobago Newsday, 16.Oct.2022) — This is part two of a Climate Tracker inquiry into Trinidad and Tobago’s energy transition. The first article was published on October 9. To date, this country produces grey hydrogen, which is hydrogen created from natural gas. Sunday Newsday spoke to Dr Vernon Paltoo, […]

Interoil Releases Sep. 2022 Production Report (Argentina / Colombia)

(InterOil, 14.Oct.2022) — In September 2022, the average daily operated production from fields in Argentina and Colombia combined increased by 32 boepd representing one percent against the month of August. Most of this increment comes from the Argentina operation, +71 boepd, whereas the Colombia operation decreased by 40 boepd as […]

Petrobras to Host 3Q:22 Webcasts

(Petrobras, 14.Oct.2022) — On 4 November 2022, two webcasts will be held, the first in Portuguese and the second in English, to present Petrobras‘ results for the third quarter of 2022. Petrobras will use the Microsoft Teams tool (link below) for the event. 4 Nov. 2022 (Friday)Webcast – PortugueseWebcast – […]

Petrobras on Divestment of Petrobras Operaciones S.A.

(Petrobras, 14.Oct.2022) — Petrobras has started the opportunity disclosure stage (teaser), regarding the sale of 100% of its stake in Petrobras Operaciones S.A. (POSA), Petrobras’ wholly owned subsidiary in Argentina, which holds a 33.6% stake in the Rio Neuquén Field. The teaser, which contains the key information about the opportunity, […]

NGC and bpTT Ink Collaboration Deal to Explore Energy Sector Synergies

(NGC, 13.Oct.2022) — The National Gas Company of Trinidad and Tobago Limited (NGC) and bp Trinidad and Tobago (bpTT) signed a collaboration agreement to explore opportunities for cooperation in several focus areas of mutual interest within the energy industry. The agreement, which was signed on 12 October 2022, serves to strengthen […]

Equinor Says Peregrino Phase 2 On Stream

(Equinor, 13.Oct.2022) — On 10 October at 20:00 local time, the new platform in Brazil, Peregrino C, produced its very first oil. Peregrino phase 2 will extend the Peregrino field life to 2040. Phase 2 adds 250-300 million barrels of oil, while at the same time halving expected CO2 emissions per […]

OPEC Cuts Oil Demand Forecast to Below the 100 MMb/d Mark [PDF Download]

(Energy Analytics Institute, 12.Oct.2022) — The Organization of Petroleum Exporting Countries (OPEC) now forecasts oil demand to dip below 100 million barrels per day (MMb/d) in 2022 owing a lower global economic forecast amid ongoing uncertainties and rising challenges impacting major economies. OPEC forecasts oil demand to reach 99.7 MMb/d […]

Awalé Resources Limited Updates on Acquisition of Colossal Gold in Suriname

(Awalé, 11.Oct.2022) — Awalé Resources Limited (TSXV: ARIC) announced that, further to the company’s news release of 13 September 2022, the TSX Venture Exchange (TSXV) has conditionally accepted the acquisition of Colossal Gold Resources Limited by Awalé pursuant to a letter agreement dated 12 September 2022 between Awalé, Colossal and […]

Touchstone Announces First Natural Gas Production from Coho

(Touchstone, 11.Oct.2022) — Touchstone Exploration Inc. (TSX, LSE: TXP) announced that the Coho facility has safely delivered first natural gas, representing the first onshore natural gas project to come onstream in Trinidad and Tobago in over twenty years. The Coho area is located in the Ortoire block, where Touchstone has […]

NGC Inks PSA with Gulf Coast Methanol 1

(NGC, 11.Oct.2022) — NGC Petrochemicals Limited (NPL), a subsidiary of The National Gas Company of Trinidad and Tobago Limited (NGC), completed negotiations with Gulf Coast Methanol 1, LLC and its parent IGP Methanol LLC of the USA, for a Purchase and Sales Agreement that will allow NGC to acquire blue methanol from IGP’s Gulf […]

Ecopetrol and Citgo Transaction to Offset Carbon

(Citgo, 10.Oct.2022) — A carbon compensated crude oil cargo sold by Ecopetrol and purchased by Citgo Petroleum Corporation is currently making its way to the Citgo Corpus Christi refinery for processing. The recent transaction supports Ecopetrol’s objectives on energy transition and decarbonization. The 500,000 barrel cargo of Ecopetrol Castilla Blend® […]

Ecopetrol’s Extraordinary General Shareholder’s Meeting (24 Oct. 2022)

(Ecopetrol, 7.Oct.2022) — The Chief Executive Officer of Ecopetrol S.A. invites the Shareholders of the Company to attend the Extraordinary General Shareholders’ Meeting to be held on Monday 24 October 2022, starting at 8 a.m., at the International Business and Exhibition Center Auditorium (CORFERIAS) located at Carrera 37 No. 24 […]

CGX and Frontera Extend JOA Amendment Agreements to 30 Nov. 2022

(CGX, 3.Oct.2022) — 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, announce that the parties have agreed to (i) extend the maturity date of the previously announced $19mn convertible loan to CGX dated […]

Petrobras on NTS Contracts

(Petrobras, 3.Oct.2022) — Petrobras, following up on the release disclosed on 22 December 2021, informs that, as part of the actions taken to open the Brazilian natural gas market, signed, in 30 September 2022, with Nova Transportadora do Sudeste S.A. (NTS) the Flexibility Reduction Agreement to be used by Petrobras […]

Business Confidence in Mexico Drops in September 2022

(Energy Analytics Institute, 3.Oct.2022) — Inflationary pressures, low economic growth, higher interest rates and investment uncertainty led to the fourth consecutive deterioration of business confidence in Mexico, the daily La Jornada reported on 3 October 2022, citing data from the National Institute of Statistics and Geography (Inegi by its Spanish […]

Energy Analytics Institute’s NRGBriefs: September 2022

(Energy Analytics Institute, 30.Sep.2022) — Energy briefs as well as others related to finance and politics during September 2022 including EXMAR closing the sale of the floating liquefaction barge Tango FLNG to Eni; the Venezuelan government officially regaining control of the petrochemical company Monómeros, a subsidiary of the state-owned PDVSA; […]

Petrobras on Divestment of Potassium Mining Rights

(Petrobras, 30.Sep.2022) — Petrobras, following up on the release disclosed on 08/11/2022, informs the beginning of the binding phase concerning the sale of its mining rights for research and mining of potassium salts located in the Amazonas Basin. Potential buyers qualified for this phase will receive a process letter with […]

Latin America and the Caribbean

Petrobras on Divestment of Onshore Optic Fiber Network

(Petrobras, 30.Sep.2022) — Petrobras started the opportunity disclosure stage (teaser), regarding the sale of its onshore fiber optic network. The teaser, which contains the key information about the opportunity, as well as the eligibility criteria for the selection of potential participants, is available on on Petrobras’ Investor Relations website: https://www.investidorpetrobras.com.br/en/results-and-notices/teasers. […]

Petrobras Inks Deal with Keppel Related to P-83 Construction

(Petrobras, 28.Sep.2022) — Petrobras signed a contract with Keppel Shipyard Limited for the construction of the P-83 platform, as a result of the advancement of the Búzios field development project, in the Santos Basin pre-salt area. The P-83 will be able to produce up to 225 thousand barrels of oil […]

NGC Group’s 1H:22 Financial Performance Bolstered

(NGC, 28.Sep.2022) — The NGC Group continues to show marked improvement in its financial performance according to Summary Consolidated Financial Statements for the Six Months Ended 30 June 2022. For the financial period, The National Gas Company of Trinidad and Tobago Limited (NGC) together with its subsidiaries (collectively the Group) […]

Vaca Muerta Shale Day in Houston 2022

(IAPG, 27.Sep.2022) — Since its first wells more than ten years ago, Argentina’s Vaca Muerta has come a long way to become the most relevant shale play outside North America. Full development has become a reality and production from Vaca Muerta now represents 41% of Argentina’s oil production and 38% […]

Energy Chamber Pleased with Fiscal Measures in Budget 2023

(The Energy Chamber, 26.Sep.2022) — The Energy Chamber welcomes measures put in place by the Ministry of Finance to improve the fiscal environment under which the upstream energy sector companies operate in Trinidad and Tobago. We wish to thank the Minister of Finance, Hon. Colm Imbert for collaborative engagement with […]

bpTT’s Cypre Project Gets Go Ahead

(bpTT, 24.Sep.2022) — bp Trinidad and Tobago (bpTT) confirmed that it is proceeding with the development of its Cypre offshore gas project. This decision followed recent meetings of Trinidad and Tobago’s Prime Minister Dr Keith Rowley, Minister of Energy and Energy Industries Stuart Young, bp CEO Bernard Looney and incoming […]

NGC and bpTT Ink Milestone Gas Deal for Future Domestic Supplies

(TT MEEI, 23.Sep.2022) — The National Gas Company of Trinidad and Tobago Limited (NGC) has signed a milestone gas supply contract (“GSC”) with energy major, bp Trinidad and Tobago (bpTT), securing a future domestic gas supply for Trinidad and Tobago for the upcoming years. NGC’s President Mark Loquan and bpTT’s […]

Ecopetrol Presents Second Report on Climate Change Management

(Ecopetrol, 23.Sep.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) published its second TCFD report as of 2021, which highlights progress in strengthening climate-related risk and opportunity management processes through discussions on Governance, Strategy, Risks and Metrics and Targets. The disclosure of this second report is in line with international best […]

Energy Chamber Hosts Upstream Operators Forum

(Trinidad and Tobago Energy Chamber, 22.Sep.2022) — Contractor and service company members of the Energy Chamber of Trinidad & Tobago received detailed information about future plans and opportunities to do business with the major upstream operating companies in Trinidad & Tobago at a virtual session on 22 September 2022. The […]

Maersk Drilling Inks One-well Extension for Drillship Offshore Suriname

(Maersk Drilling, 22.Sep.2022) — TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the work scope of the drillship Maersk Valiant. The contract extension is expected to commence in January 2023, in direct continuation of the rig’s […]

Colombia’s July Oil Output Rose 2.3%

(ArabNews, 21.Sep.2022) — Oil prices ticked up on Wednesday on supply concerns, but expectations of another aggressive US interest rate hike capped gains amid investor fears it could lead to a recession and hurt fuel demand. Brent crude futures rose 11 cents, or 0.1 percent, to $90.73 a barrel by […]

Pemex Confirms Damage to Ethane Pipeline in Tabasco

(Energy Analytics Institute, 20.Sep.2022) — State-owned Petróleos Mexicanos (Pemex) said an excavator accidentally hit one of its pipelines, which caused an ethane gas leak that triggered a fire. Pemex confirmed the damaged infrastructure was a 24-inch ethane pipeline that runs from Ciudad Pemex to Cangrejera, the company announced on 20 […]

Exxon Boosts Guyana Oil Output, Undecided on Future Auction Bid

(Reuters, 20.Sep.2022) — Exxon Mobil Corp. is uncertain whether it will bid for new offshore areas Guyana wants to explore, a person close to the matter said, as the oil major ramps up production faster than expected and the South American country wrestles with fixing terms of new oil leases. An Exxon-led consortium discovered oil in the deep waters off Guyana’s coast, launched […]

Latin America and the Caribbean

PDVSA Controls Fire at Pier 1 in Puerto La Cruz

(Energy Analytics Institute, 17.Sep.2022) — State-owned PDVSA said a fire at Pier 1 of the Guaraguao Storage and Shipping Terminal in Puerto La Cruz, Anzoátegui state has been brought under control. The fire was caused by the rupture of a gasoline loading arm during product loading operations at a tanker […]