(Asco, 24.Jun.2022) — Global integrated logistics and materials management company, ASCO signed an agreement with Kuldipsingh Port to provide technical expertise for its supply base operations, playing a major role in Suriname’s energy industry. The agreement will see the Aberdeen headquartered company support new oil and gas developments in offshore […]
Category: Latin America and the Caribbean
BW Energy Inks Deal for Golfinho Field FPSO Cidade de Vitoria
(BW Energy, 24.Jun.2022) — BW Energy signed an agreement to acquire the FPSO Cidade de Vitoria, currently producing on the Golfinho field, from Saipem for a cash consideration of $73mn. The transaction is subject to fulfilment or waiver of conditions precedents with an expected closing and takeover of the FPSO […]
Petrobras to Divest E&P assets in the EspĂrito Santo Basin
(Petrobras, 24.Jun.2022) — Petrobras, following up on the release disclosed on 23 June 2022, informs that it signed today with BW Energy Maromba do Brasil Ltda (BWE), the contracts for the sale of its total stake in the maritime concessions groups named Golfinho Cluster and Camarupim Cluster, in the post-salt […]
Vice News Zeroes in on Oil-rich Guyana
(Vice News, 23.Jun.2022) — Allegations of widespread and organized state corruption have always dogged the Indo-dominated People’s Progressive Party (PPP) whenever it is in government in the Caribbean Community headquarter nation of Guyana, but a damning undercover investigation by American media outfit Vice-News appears to have confirmed deeply entrenched fears […]
NRGBriefs: BW Energy Inks $75mn Deal with Petrobras for Offshore Clusters
(Energy Analytics Institute, 23.Jun.2022) — Energy briefs including Oslo-based BW Energy signing an agreement to acquire an 100% operated working interest in the Golfinho and Camarupim clusters and a 65% working interest in the BM-ES-23 block from Petrobras for $75mn. LATIN AMERICA AND THE CARIBBEAN Brazil — BW Energy inked […]
Petrobras’s Best Solution for Markets May Be Worst for Politicians
(Dow Jones, 23.Jun.2022) — Privatizing Petroleo Brasileiro SA, or Petrobras, is likely the best solution to rid Brazil’s state-owned oil giant of political interference. It is also a longshot, according to analysts. Petrobras has been stung by turmoil in recent months. Brazilian President Jair Bolsonaro has attacked the company’s fuel-pricing […]
BW Energy’s Offer for Golfinho and Camarupim Clusters Approved by Petrobras
(BW Energy, 23.Jun.2022) — BW Energy has been notified that the company’s offer to acquire the Golfinho and Camarupim Clusters offshore Brazil has been approved by the Petrobras Executive Board. The acquisition is expected to add approximately 9,000 barrels of oil per day of oil production from early 2023. The […]
Suriname’s Natural Resources Minister Comments before SEOGS 2022
(SEOGS, 22.Jun.2022) — Suriname’s Minister of Natural Resources H.E. David Abiamofo spoke about the South American country’s energy sector and potential during an interview prior to the start of the Suriname Energy, Oil & Gas Summit & Exhibition (SEOGS) which takes place 28-30 June 2022 in the country’s capital Paramaribo. […]
Liza Unity Receives ABS’ SUSTAIN-1 Notation
(Piero Stewart, Energy Analytics Institute, 22.Jun.2022) — The Liza Unity floating production storage and offloading vessel, where oil can be processed, stored and transferred to tankers, is the first in the world to receive a SUSTAIN-1 notation by the American Bureau of Shipping (ABS) for its sustainable design and operation […]
Petrobras on Gaspetro Sale
(Petrobras, 22.Jun.2022) — Petrobras, following up on the release disclosed on 07/28/2021, informs that the Administrative Council for Economic Defense (CADE), in a court session held on this date, approved by majority vote the transaction for the sale of 51% of Petrobras Gás S.A. (Gaspetro) to Compass Gás e Energia […]
Diverse Companies See Opportunities in “Oil and Gas” Summit
(SEOGS, 21.Jun.2022) — With more than 500 participants, the exhibition that is linked to the second edition of the Suriname, Energy, Oil and Gas Summit (SEOGS) seems to be the ideal place for networking, information and business. Two diverse, but highly motivated, companies that have chosen to participate in the […]
Ecopetrol Updates on Partial Distribution of Occasional Reserve
(Ecopetrol, 21.Jun.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that, at the Extraordinary General Shareholders’ Meeting held on 17 June 2022, the company’s Shareholders approved the modification of the: i) deadline for the payment of dividends to the Nation, approved in the ordinary session of 30 March 2022, from […]
NRGBriefs: APA, Total Drill Dikkop Off Suriname; Pemex Output Goals
(Energy Analytics Institute, 21.Jun.2022) — Energy briefs including APA Corporation and TotalEnergies drilling the Dikkop exploration well in the central portion of Suriname’s Block 58 with the Maersk Valiant. LATIN AMERICA AND THE CARIBBEAN Mexico — State-owned Pemex expects oil and condensate production, w/ contributions from partners, to exit 2022 […]
APA Corp., TotalEnergies Announce Test Results at Krabdagu Discovery Well
(APA Corp., 21.Jun.2022) — APA Corporation (Nasdaq: APA) announced flow test results from the Krabdagu exploration well (KBD-1) on Block 58 offshore Suriname. APA Suriname holds a 50% working interest in the block, with TotalEnergies (TTE), the operator, also holding a 50% working interest. Flow test data collected in the […]
Canacol Energy Announces Dividend
(Canacol Energy, 20.Jun.2022) — Canacol Energy Ltd. (TSX:CNE) (OTCQX:CNNEF) (BVC:CNEC) announced that it has declared a dividend of CAD$.052 per share, payable on 15 July 2022, to shareholders of record at the close of business on 30 June 2022. This dividend qualifies as an ‘eligible dividend’ for Canadian income tax […]
Fernando Borges Named as Petrobras Interim CEO
(Petrobras, 20.Jun.2022) — Petrobras, following up on the material facts disclosed today, informs that due to the vacancy in the CEO position, the Chairman of the Board of Directors has appointed the Chief Exploration & Production Officer, Fernando Borges, as interim CEO of the company, based on paragraph 4 of […]
The President Who Did Everything Right and Got No Thanks
(The Atlantic, 20.Jun.2022) — The perplexing part of Colombia’s electoral choice of a former leftist guerrilla over a right-wing populist is how unheralded the success of the outgoing moderate was. Which would you prefer? An elderly TikTok star who compares himself to Donald Trump? Or a former Marxist guerrilla who attended the funeral of […]
Social Unrest Impacts Ecuador’s Oil Production
(Energy Analytics Institute, 20.Jun.2022) — Social unrest in Ecuador is again impacting the operations of state owned EP PetroEcuador in the Amazon region of the South American country. After eight days of stoppages called by some opposition organizations, the company has reported accumulated loss production (company and consortia) of 64,347 […]
Gustavo Petro, Former Guerrilla, will be Colombia’s First Leftist President
(Washington Post, 19.Jun.2022) — Gustavo Petro, a former rebel who rallied young and poor voters with promises to transform an unequal society, was elected Colombia’s first leftist president on Sunday, in a resounding rejection of the political establishment that has ruled the South American nation for two centuries. Petro received […]
NRGBriefs: Colombia Elects Gustavo Petro; Ecuador’s Force Majeure
(Energy Analytics Institute, 19.Jun.2022) — Political and energy briefs including Colombians electing Gustavo Petro as the South American country’s next president from 2022-2026; Ecuador declaring Force Majeure along the country’s entire hydrocarbon value chain; and Gazprom announcing it will deliver volumes of gas in line with recent days. LATIN AMERICA […]
Ecuador Declares Force Majeure for Oil, State of Exception over Protests
(Reuters, 18.Jun.2022) — Ecuador’s state-owned oil company Petroecuador declared force majeure late on Saturday over the impact of protests against the government’s social and economic policies in the Andean country, while President Guillermo Lasso tried to clamp down on unrest. The oil company declared force majeure for its exploration, exploitation, […]
Ecuador Seeks Partner to Stop Gas Flaring as Anger Rises in the Amazon
(Reuters, 17.Jun.2022) — Ecuador oil company Petroecuador says it is working to shut down gas flares in the Amazon to comply with a court-imposed deadline, but progress is too slow for nearby communities who allege the flares cause cancer and other illnesses. A provincial tribunal in Sucumbios province last year […]
Argentina Signs Deal with Tenaris to Move Gas from Vaca Muerta
(Reuters, 17.Jun.2022) — Argentine state company Energia Argentina signed a contract June 16 with pipeline producer Tenaris, a critical step toward completing a pipeline to transfer natural gas from Argentina’s giant Vaca Muerta shale formation. The government says the pipeline will allow Argentina to forgo costly imports of LNG and reverse a large energy deficit that has limited the country’s economic recovery. The […]
NRGBriefs: OFAC Takes Former PDVSA VP off SDN List; Bristow to Ring Opening Bell
(Energy Analytics Institute, 17.Jun.2022) — Energy briefs including the US Department of Treasury announcing the removal of former PDVSA Vice President Carlos Erik Malpica Flores from OFAC’s SDN list. LATIN AMERICA AND THE CARIBBEAN Venezuela — The US Department of the Treasury announced removal of Malpica Flores, Carlos Erik, Naguanagua, […]
Maersk Drilling Secures One-Well Extension for Maersk Valiant
(Maersk, 16.Jun.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 has an estimated duration of 100 days, with work expected to commence in […]
Frontera Provides Update on Exploration Block Offshore Guyana
(Frontera, 16.Jun.2022) — Frontera Energy Corporation (TSX: FEC), joint venture partner with CGX Energy Inc. (TSXV: OYL) in the Petroleum Prospecting License for the Corentyne block offshore Guyana, today announced that, following constructive discussions with the government of Guyana, the joint venture will focus exclusively on the exploration opportunities in the Corentyne […]
Petrobras Maintains Commitment to Competitive Fuel Prices, Balanced Market
(Petrobras, 14.Jun.2022) — Petrobras, regarding the news published in the media about expectations of new readjustments in fuel prices, maintains its commitment to the practice of competitive prices and in balance with the market, while avoiding the immediate passthrough of external volatility and of the exchange rate caused by circumstantial […]
Petrobras Inks Agreement for Feasibility of Biomethane Production
(Petrobras, 14.Jun.2022) — Petrobras and RaĂzen signed an agreement to jointly evaluate potential businesses involving the production, purchase and sale of biomethane, a 100% renewable fuel produced by RaĂzen from sugarcane waste (vinasse and filter cake), generated in the agro-industrial operations of the company’s Energy Bioparks. The partnership also foresees […]
NRGBriefs: Atlas Expands Wind Portfolio in Brazil
(Energy Analytics Institute, 14.Jun.2022) — Energy briefs including Atlas Renewable Energy expanding its wind portfolio by acquiring a project from Voltalia in Brazil; Kootenay Silver (TSXV: KTN) announcing JV operator Aztec Minerals Corp. (TSXV: AZT) has reported the final gold and multi-element results for the Cervantes Project 2021-2022 Reverse Circulation (RC) Phase 2 drill program […]
Atlas Broadens Market Offering With Wind Project in Brazil
(Atlas, 14.Jun.2022) — Atlas Renewable Energy, an international renewable energy generator, acquired a wind project in the Brazilian state of Minas Gerais from the French energy producer and provider Voltalia. The project, named Juramento, will have a generation capacity of 378 MW and will be composed of 63 wind turbines. Juramento […]
Petrobras Inks Natural Gas Protocol of Intentions
(Petrobras, 13.Jun.2022) — Petrobras and the Sergipe Government signed today a protocol of intentions to identify business opportunities with the use of natural gas, considering the development by the company of a new frontier in Sergipe Deep Waters. The objective of the protocol is to express the purpose of prospecting […]
Establishment of the Business Committee of the Ecopetrol BODs
(Ecopetrol, 13.Jun.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that, given the resignation of Juan Emilio Posada Echeverri from the Board of Directors of the company, the board, in its session on June 9, 2022, approved the new members of the Business Committee, which is formed as follows: BUSINESS COMMITTEE Carlos Gustavo Cano Hernando […]
APA Corp. Finds Water at Rasper Well in Block 53 Offshore Suriname
(APA Corp., 13.Jun.2022) — APA Corporation (Nasdaq: APA) provided results from recent drilling operations on Suriname Block 53. APA Suriname, the operator, holds a 45% working interest in the block, with Petronas holding a 30% working interest and CEPSA holding a 25% working interest. APA has completed operations on the […]
Petrobras on Injunction to Suspend Bahia Terra Cluster Sale
(Petrobras, 10.Jun.2022) — Petrobras was notified, on 06/09/22, of the preliminary injunction decision issued by the Court of Justice of the State of Rio de Janeiro, determining the paralysis of contractual negotiations with the PetrorecĂ´ncavo and Eneva consortium regarding the sale process of the onshore production fields located in the […]
PetroEcuador Seeks Partner to Develop Block 6
(Energy Analytics Institute, 9.Jun.2022) — Ecuador’s state-owned EP PetroEcuador is eying a bidding process to select a strategic partner to develop Block 6 in the Gulf of Guayaquil. PetroEcuador is seeking to boost production at the Amistad Field and maximize the recovery factor of its deposits in Block 6, the […]
Petrobras on BODs Meeting About CEO
(Petrobras, 9.Jun.2022) — Petrobras, regarding the news published in the media, clarifies that, yesterday, there was a meeting of the Board of Directors (BD), in which, among other topics, the Federal Government’s request for replacement of the company’s CEO was discussed, through an official letter from the Ministry of Mines […]
Petrobras on Letter from the Ministry of Mines and Energy
(Petrobras, 9.Jun.2022) — Petrobras informs that it received a letter from the Ministry of Mines and Energy today, at 8:04 pm, in reference to Petrobras’ Extraordinary General Meeting, indicating ten candidates of the controlling shareholder for the eight seats to be filled for Petrobras’ Board of Directors, in case the […]
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NRGBriefs: Suriname Energy Oil & Gas Summit 2022 [Program Attached]
(Energy Analytics Institute, 8.Jun.2022) — Energy briefs including Suriname preparing to host its premier event: 2nd Suriname Energy Oil & Gas Summit to be held 28-30 June 2022 in Paramaribo; and an Energy Analytics Institute (EAI) quick takeaway regarding Trinidad and Tobago using natural gas production to feedstock for the […]
Analysis: Colombia’s Extractive Industries Watching Election Warily
(Reuters, 8.Jun.2022) — Colombia’s leftist firebrand presidential candidate Gustavo Petro is too close in recent polls for the comfort of oil companies and miners who worry that his promised policies would imperil Colombia’s economy and energy self-sufficiency, high-ranking industry figures and business associations said. Petro, currently a senator, told a […]
Why The Oil Bonanza Offshore Guyana Has Global Implications
(Forbes, 7.Jun.2022) — The world’s thirst for crude oil continues to grow, as exemplified by the big, 5.1 million-barrel draw from U.S. crude inventories announced by the Energy Information Administration (EIA) last week. Referring to the current historically high prices for oil and refined products, one analyst, Amrita Sen from Energy Aspects, […]
T&T Energy Conference Attracts Record Number of Participants
(Energy Chamber, 6.Jun.2022) — From the 31 May to 2 June 2022, the Energy Chamber of Trinidad & Tobago held its first in-person T&T Energy Conference since the onset of the global pandemic in 2020. The event was held as a hybrid event with both in-person and virtual streams and […]
Orvana Reveals Taguas Project Phase I Infill & Growth Drilling Results
(Orvana, 6.Jun.2022) —Orvana Minerals Corp. (TSX: ORV) announced the recent completion of Phase I of its infill and resource-growth drilling campaign targeting the Oxides Horizon of its 100%-owned Taguas Project in San Juan Province, Argentina. A five-month final Phase II is expected to start in November 2022. Phase I consisted of 6,482.6 meters in […]
Canadian Solar Sells to SPIC Brasil 70% Stake in 738 MWp Solar Projects
(Canadian Solar, 6.Jun.2022) — Canadian Solar Inc. (NASDAQ: CSIQ) signed an agreement with SPIC Brasil, a leading power generation company in Brazil, to sell 70% stake in the company’s 738 MWp solar projects, Marangatu and Panati-Sitia. The Marangatu and Panati-Sitiá projects, 446 MWp and 292 MWp each in size, are located in […]
US to Allow Venezuelan oil to be Shipped to Europe: Report
(The Hill, 5.Jun.2022) — The U.S. will reportedly resume allowing Venezuelan oil to flow to Europe, people familiar with the matter told Reuters. The outlet on Sunday reported that Eni SpA and Repsol SA, which are Italian and Spanish respectively, could ship Venezuelan oil to Europe as early as next month […]
US to Let Eni, Repsol Ship Venezuela Oil to Europe, Reuters Says
(Bloomberg, 5.Jun.2022) — The US could allow Italy’s Eni SpA and Spain’s Repsol SA to ship Venezuelan oil to Europe as soon as July to make up for Russian crude, Reuters reported, citing people familiar with the matter. The US State Department gave the two companies the green light to resume shipments in […]
Mexico Closer to Striking a Deal over Major Offshore Oil Find
(Reuters, 3.Jun.2022) — The Mexican government is close to reaching a deal with U.S.-based Talos Energy over the future of a potentially lucrative shared crude discovery, the president said on Friday. The handling of Zama, a deposit holding some 900 million barrels and located offshore in the southern Gulf of […]
Petrobras on Divestment of Interest in UEG Araucária S.A.
(Petrobras, 3.Jun.2022) — Petrobras has begun the teaser phase for the sale of its entire 18.80% stake in the company UEG Araucária S.A. (UEGA), located in the state of Paraná. The teaser, which contains key information about the opportunity, as well as the eligibility criteria for the selection of potential […]
Zacatecas Silver Commences Work at Esperanza Gold Project
(Zacatecas Silver Corp., 3.Jun.2022) — Zacatecas Silver Corp. (TSXV: ZAC) (OTC: ZCTSF) (FSE: 7TV) commenced its work plans to prepare a current resource estimate at the advanced stage Esperanza Gold Project, located in Morelos State, Mexico. Immediate steps to confirm resource estimate include: Extensive verification through sampling at least 10% […]
Canacol Energy Provides May Gas Sales
(Canacol Energy, 3.Jun.2022) — Canacol Energy Ltd. (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) provided the following information concerning its May 2022 natural gas sales and the results of the Alboka 1 exploration well, along with near term drilling plans. Gas sales averaged 189 MMscfpd for May 2022Realized contractual natural gas sales (which are […]
Mexico Close to Agreement with Talos Energy on Zama Project
(Reuters, 3.Jun.2022) — The Mexican government is close to reaching a deal with U.S.-based Talos Energy over the future of a potentially lucrative shared crude discovery, the president said on June 3. The handling of Zama, a deposit holding some 900 million barrels and located offshore in the southern Gulf […]