(Rhyolite Resources, 16.May.2022) — Rhyolite Resources Ltd. (TSXV: RYE) announced its inaugural 3,000-metre diamond core drilling program at the Brothers Project in Suriname has identified a gold mineralized shear zone 3.5 km in length. The shear zone is open on strike at both ends and is open down dip. Highlight […]
Category: Latin America and the Caribbean
Venezuela Petroleum Chamber President Quintero on the Oil Sector
(Energy Analytics Institute, 16.May.2022) — Venezuela Petroleum Chamber President Reinaldo Quintero spoke with Venezuelan media outlet Globovision on 16 May 2022 about US sanctions imposed on Venezuela, state owned Petróleos de Venezuela (PDVSA) and current production levels and potential to boost production over the short-term, Venezuela’s potential to industrialize flared […]
Shell Joins Exxon with $1bn Brazil Exploration Setback
(Bloomberg, 16.May.2022) — Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center. In the past three years, Shell has drilled three exploration wells without finding any commercial volumes, said Marcelo […]
NRGBriefs: Pampa Energía Annual Report; Coho Trenching Starts
(Energy Analytics Institute, 16.May.2022) — Energy briefs including Argentine oil producer Pampa Energía S.A. revealing its annual report for year-end 2021; and Touchstone Exploration saying that trenching has commenced at its Coho project. LATIN AMERICA AND THE CARIBBEAN Argentina — Argentine oil producer Pampa Energía S.A. revealed its annual rpt […]
Steel Dynamics Eyes Acquisition of a Mexican Metals Recycling Company Roca
(Steel Dynamics, Inc., 16.May.2022) — Steel Dynamics, Inc. (NASDAQ/GS: STLD) announced that as part of its North American raw material procurement strategy, the company has entered into a definitive agreement to acquire the equity interest of Roca Acero S.A. de C.V. to be funded with available cash. Roca is headquartered […]
Bolsonaro Hints at Change in Petrobras’ Profit Distribution
(Reuters, 16.May.2022) — Brazilian President Jair Bolsonaro suggested on Monday he may tinker with state-run company Petrobras‘ profit policy, cutting the percentage distributed to shareholders, as he looks to curb fuel price hikes ahead of the country’s October elections. In a speech during an event in Sao Paulo, Bolsonaro said […]
Petrobras Ends Competitive Process for Sergipe-Alagoas Basin Concessions
(Petrobras, 13.May.2022) — Petrobras, following up on the release disclosed on 07/20/2018, informs that it has decided to conclude the current competitive process, which was in the binding phase, for the partial sale of four concessions located in deep waters in the Sergipe-Alagoas Basin (BM- SEAL-4, 4-A, 10 and 11), […]
CADE Approves Petrobras’ Sale of REMAN to Ream Participações S.A.
(Petrobras, 13.May.2022) — Petrobras, following up on the release disclosed on 03/10/2022, informs that the General Superintendence of the Administrative Council for Economic Defense (CADE) approved the transaction for the sale of Refinaria Isaac Sabbá (REMAN) to Ream Participações S.A.. The final and unappealable approval of the transaction by CADE […]
NRGBriefs: Touchstone’s Strongest Quarter; JinkoSolar Files Form 20-F
(Energy Analytics Institute, 13.May.2022) — Energy briefs including Touchstone Exploration Inc‘s (AIM:TXP, TSX:TXP, OTC:PBEGF) President and CEO Paul Baay joining Katie Pilbeam to talk about one of the company’s strongest quarters to date; and JinkoSolar Holding Co., Ltd. (NYSE: JKS) filing its annual report on Form 20-F for the fiscal year […]
Mexican Gov’t Suspends Permit Granted to Vulcan in Mexico
(Vulcan Materials, 13.May.2022) — Vulcan Materials Company (NYSE: VMC), the nation’s largest producer of construction aggregates, provided an update with respect to its Mexican SAC TUN operations. Today, Vulcan Materials Company confirmed that the Mexican government has suspended the three-year customs permit granted in March 2022 to the Mexican subsidiary of the company […]
Guyanese Voice Fears Over True Cost of Exxon’s Oil Bonanza
(The Guardian, 12.May.2022) — Annette Arjoon is not anti-oil. The marine conservationist calls the vast new oilfields off Guyana’s coast a “blessing” that will earn billions of dollars for one of the poorest countries in the Caribbean, even as she recognises that pulling yet more fossil fuel from the ground will […]
Braskem Reports 1Q:22 Recurring EBITDA of $920mn
(Braskem, 12.May.2022) — Braskem S.A. (B3: BRKM3, BRKM5 and BRKM6;NYSE: BAK; LATIBEX: XBRK) announces its results for 1Q22. 1Q22 HIGHLIGHTS CONSOLIDATED In 1Q22, the company’s Recurring EBITDA was US$920mn, 19% lower than 4Q21, mainly due to: (i) the normalization of international spreads for main chemicals and resins in Brazil, for PP in the USA & Europe and for […]
Pampa Energia: 1Q:22 Results Boosted by Exports, Operating Performance
(Pampa Energía S.A., 12.May.2022) — Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP), an independent company with active participation in Argentina’s electricity and gas value chain, announces the results for the quarter ended on 31 March 2022. Pampa’s financial information adopts US$ as functional currency, and it is expressed in AR$ at […]
Great Panther Reports 1Q:22 Financials for Brazilian, Mexican Mines
(Great Panther, 12.May.2022) — Great Panther Mining Limited (TSX: GPR) (NYSE-A: GPL) announces consolidated financial results for the three months ended 31 March 2022, from its three wholly-owned mines: the Tucano Gold Mine in Brazil, and Topia and the Guanajuato Mine Complex (“the GMC”) in Mexico, both primarily silver mines. “First quarter 2022 results were […]
NRGBriefs: Venezuela Share Offerings; Sempra Dividend
(Energy Analytics Institute, 12.May.2022) — Energy briefs including Venezuela’s President Nicolás Maduro looking to offer between 5%-10% of the shares of public companies and “empresas mixtas” for national and international investment; Pampa Energía S.A.‘s videoconference to discuss its 1Q:22 results; and Sempra’s (NYSE: SRE) (BMV: SRE) board of directors declaring a $1.145/share […]
AES El Salvador Trust II bis Launches Offer to Purchase for Cash
AES El Salvador Trust II bis, 12.May.2022) — AES El Salvador Trust II bis, a trust formed under the laws of the State of New York (the “Issuer”) announced that it has launched an offer to purchase for cash (the “Tender Offer”) any and all of its 6.750% Senior Guaranteed Notes due 2023 […]
Bolsonaro Replaces Energy Chief After Brazil Fuel Price Hike
(Bloomberg, 11.May.2022) — Brazilian President Jair Bolsonaro replaced his Energy Minister just days after state-run Petroleo Brasileiro SA ignored his plea to not raise fuel prices, which has become a major political issue ahead of his re-election bid in October. Bento Albuquerque, who served in the role for more than […]
NRGBriefs: YPF Reports Strong 1Q:22 Results; Ecopetrol Growth
(Energy Analytics Institute, 11.May.2022) — Energy briefs including Argentina’s state-owned YPF delivering strong results during the 1Q:22 and again achieving higher hydrocarbon production; Ecopetrol CEO Felipe Bayón saying the Colombian company will continue to grow in future years; and the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo continuing his […]
Stephen McNabb Appointed Citgo Treasurer
(Citgo, 11.May.2022) — Citgo Petroleum Corporation named Stephen McNabb the company’s new Treasurer, where he will oversee liquidity management and the company’s capital structure, manage financial risk and insurance, steward bank relationships and investor relations, and assist the CFO in developing financial strategies. McNabb previously served as Assistant Treasurer and has been with […]
OPEC’s Mohammad Barkindo Visits Petrocedeño Upgrader
(Energy Analytics Institute, 11.May.2022) — Petróleos de Venezuela S.A. (PDVSA) President Asdrúbal Chávez, and the board of directors of the company received the Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo during a “fruitful” meeting at the Petrocedeño upgrader located within the José Antonio Anzoátegui Industrial […]
Aris Gold Says Marmato Lower Mine Progressed in 1Q:22
(Aris Gold, 11.May.2022) — Aris Gold Corporation (TSX: ARIS) (OTCQX: ALLXF) reports financial and operating results for the three months ended 31 March 2022. All amounts are in US dollars, unless otherwise indicated. Aris Gold CEO Neil Woodyer stated: “During Q1 we began to see positive results from our performance optimization initiatives at the Marmato […]
Brazil’s New Energy Minister Wants Studies on Petrobras Privatization
(Reuters, 11.May.2022) — Brazil’s newly appointed mines and energy minister, Adolfo Sachsida, said on Wednesday he will request studies on Petrobras‘ privatization as his first act in office. “I request the beginning of the studies pending the proposal of the legislative changes necessary for the Petrobras’ privatization,” Sachsida said in […]
Petrobras to Build New Diesel Hydrotreating Unit
(Reuters, 11.May.2022) — Brazilian state-run oil company Petrobras said on Wednesday it has signed a deal with TSE and Toyo Engineering Corp to build a new diesel hydrotreating unit at its Paulinia refinery. The move will require $458 million in investments and is in line with Petrobras’ 2022-2026 business plan, […]
Subsea 7 Awarded Contract Offshore Trinidad and Tobago
(Subsea 7, 11.May.2022) — Subsea 7 announced the award of a sizeable(1) project by BP for the TOPR project located offshore Trinidad and Tobago, in water depths of up to 280 feet. The project covers the installation of a 96 kilometers 12-inch pipeline, associated shore approach and diver tie-in spools. Front […]
Golden Arrow Options its Mogote Copper-Gold Project, Argentina
(Golden Arrow, 11.May.2022) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) has optioned its Mogote Copper-Gold Project, in San Juan Province, Argentina to Australian-based Syndicate Minerals Pty. This is the third property option completed by the company since early 2021, as part of its strategy to build a secondary value stream through joint-venture […]
OPEC’s Barkindo Visits Jose Antonio Anzoátegui Petrochemical Complex
(Energy Analytics Institute, 11.May.2022) —The Organization of Petroleum Exporting Countries (OPEC) Secretary General Mohammad Barkindo and an OPEC delegation visited the ‘Jose Antonio Anzoátegui Petrochemical Complex’ in Anzoátegui State during their working visit to Venezuela. The upgrading complex is composed of four main upgraders and a petrochemical plant. “There have […]
Lithium South Picks Groundwater Insight for Services Regarding Hombre Muerto
(Lithium South, 11.May.2022) — Lithium South Development Corporation (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) has retained Groundwater Insight Inc. of Halifax, Nova Scotia to provide technical services regarding the Hombre Muerto North Lithium Project (HMN Li Project) located in Salta, Argentina. The services will include the preparation of a National Instrument Compliant Resource Estimate, and the […]
Pampa Energía BODs Approves Share Buyback Program
(Pampa Energía, 11.May.2022) — Pampa Energía S.A. (NYSE: PAM; ByMA: PAMP) informs that on the date hereof, the Board of Directors of Pampa approved the new program to repurchase own shares. Below it is described the terms and conditions for the new share repurchase program, which will be in force […]
Maersk Drilling Secures Extension for Mærsk Developer in Brazil
(Maersk Drilling, 10.May.2022) — Karoon Energy Ltd has exercised options to add the drilling of up to two wells at the Neon field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer. The contract extension has a duration of 80 days, in direct continuation of the rig’s previous […]
Petrobras Concludes Divestment of Potiguar Basin E&P Asset
(Petrobras, 10.May.2022) — Petrobras, following up on the release disclosed on 27 December 2021, finalized the sale, together with Sonangol Hidrocarbonetos Brasil Ltda., of all the stakes held by both companies in the onshore exploratory block POT-T-794, belonging to the BT-POT-55A concession, located in the Potiguar Basin, in the state […]
Petrobras Concludes Divestment of Onshore Fields in Bahia
(Petrobras, 10.May.2022) — Petrobras, following up on the release disclosed on 17 December 2020, informs that today it concluded the sale of its entire stake in fourteen onshore exploration and production fields, called Recôncavo Cluster, located in the state of Bahia, to 3R Candeias S.A., previously named Ouro Preto Energia […]
Petrobras Starts Binding Phase for Sergipe-Alagoas Basin E&P Assets
(Petrobras, 10.May.2022) — Petróleo Brasileiro S.A. (Petrobras), following up on the release disclosed on 04/11/2022, informs that today it started the binding phase regarding the sale of its total participation in the Tartaruga field, located in shallow waters of the Sergipe-Alagoas Basin, state of Sergipe. Potential buyers qualified for this […]
![Ecopetrol Group Reports 1Q:22 Results [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/10/ecopetrol_felipe_bayon_eh_jpg.jpg)
Ecopetrol Group Reports 1Q:22 Results [PDF Download]
(Ecopetrol, 10.May.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announced the Ecopetrol Group’s financial results for the first quarter of 2022. Table 1: Financial Summary Income Statement –Ecopetrol Group Billion (COP) 1Q 2022 1Q 2021 ∆ ($) ∆ (%) Total sales 32,473 17,206 15,267 88.7% Depreciation and amortization 2,579 2,237 342 15.3% […]
NRGBriefs: Colombia Boosts Reserves; Trinidad’s Young Talks Gas on CNN
(Energy Analytics Institute, 10.May.2022) — Energy briefs including Colombia’s National Hydrocarbon Agency (ANH) President Armando Zamora Reyes and Colombia’s Mines and Energy Minister Diego Mesa Puyo announcing during a joint press conference in Bogotá details of slight rises in the country’s crude oil and natural gas reserves; Trinidad and Tobago […]
Petrobras to Pay Complementary Dividends
(Petrobras, 10.May.2022) — Petrobras informs that will pay, on Monday, 05/16/2022, complementary dividends referred to the 2021 fiscal year, based on shareholding position as of 04/13/2022, in connection to the Material Fact released on that date. The amount of dividends to be paid will be adjusted by Selic interest rate […]
Edenor Reveals Expiration and Final Tender Results for its Senior Notes due 2022
(Edenor, 10.May.2022) — Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) announced that its offer to exchange any and all of its outstanding 9.75% Senior Notes due 2022 (the “Existing Notes“) for the applicable amount of newly issued 9.75% Senior Notes due 2025 (the “New Notes“) and cash, as applicable, made upon […]
Petrobras Raises Diesel Prices Despite Bolsonaro Complaints
(Bloomberg, 9.May.2022) — Brazil’s state-controlled oil giant Petroleo Brasileiro SA raised domestic diesel prices just days after President Jair Bolsonaro bashed the company for too-high profits. After holding prices stable since March, Petrobras announced an 8.9% increase in diesel prices for distributors to 4.91 reais a liter ($0.96), it said […]
Colombian Environmental Activists Deluged by Threats
(Al Jazeera, 9.May.2022) — Environmental activists Fabian Urquijo and Jhordan Peinado, who hail from Colombia’s Santander region, received an eerie warning in February. They were named in a pamphlet shared by the Gulf Clan paramilitary group, warning that they would be killed if they did not give up their activism. More than […]
NRGBriefs: CGX, Frontera on Guyana; Barkindo’s OPEC Wind-down
(Energy Analytics Institute, 9.May.2022) — Energy briefs including CGX and Frontera executives briefing the media on the Kawa-1 and Wei-1 exploration wells offshore Guyana; and OPEC Secretary General Mohammad Barkindo (from Nigeria) preparing to step down from his leadership post at the organization in August 2022. LATIN AMERICA AND CARIBBEAN […]
CGX and Frontera Find Light Oil and Gas Condensate at Kawa-1
(Frontera, 9.May.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, announced integrated results from the Kawa-1 exploration well, offshore Guyana. The Kawa-1 well was drilled in water depth of approximately 355 meters (1,174 ft) […]
OPEC’s Mohammad Barkindo Visits Venezuela
(Energy Analytics Institute, 7.May.2022) — OPEC (Organization of Petroleum Exporting Countries) Secretary General Mohammad Barkindo arrived in Caracas, Venezuela, on 6 May 2022 for a working visit to the South American country. Barkindo was received by a high-level delegation from the Venezuelan government headed by the Agriculture & Land Minister […]
Guyana and Brazil Agree on Actionable Framework – President Ali
(DPI, 7.May.2022) — His Excellency Dr Irfaan Ali announced that Guyana and Brazil have agreed on an “actionable framework” in the areas of food security, energy, infrastructure and national security. This announcement was made following a meeting between Brazil’s President, His Excellency Jair Bolsonaro, members of his cabinet and the Guyana […]
Guyana, Brazil Sign Treaties on Civil, Criminal Matters
(DPI, 7.May.2022) — Guyana and Brazil have mutually agreed to provide legal assistance in civil and criminal matters, through the signing of two bilateral agreements, at the Arthur Chung Conference Centre (ACCC) on Friday. The signing of the treaties, which were done by Minister of Foreign Affairs and International Cooperation, […]
NRGBriefs: Petrobras EBITDA; LatAm Disintegration; Suriname’s Blk 58
(Energy Analytics Institute, 6.May.2022) — Energy briefs including Brazil’s state oil giant Petróleo Brasileiro S.A. (Petrobras) reporting earnings before interest, taxes, depreciation and amortization of $15.1bn in 1Q:22; energy and other disintegration in the Latin America and Caribbean (LAC) region; APA Corporation and TotalEnergies said getting closer to achieving their […]
Zacatecas Silver Receives Permits for 30 Drill Pads at El Cristo
(Zacatecas Silver, 6.May.2022) — Zacatecas Silver Corp. (TSXV: ZAC) (OTC: ZCTSF) (FSE:7TV) provided an update on the El Cristo Vein System located within the Zacatecas Property. Highlights: The Secretariat of Environment and Natural Resources of Mexico (SEMARNAT) has approved 30 drill permits at El Cristo which will allow drill targeting throughout the extensive […]
Exclusive-Guyana in ‘No Rush’ to Draft New Oil Production-Sharing Pact -Minister
(Reuters, 6.May.2022) — Guyana is in “no rush” to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output. The government of South America’s newest crude oil producer said in 2021 it […]
Venezuela’s Oil Exports Drop 8% in April amid Quality-linked Delays
(Reuters, 6.May.2022) — Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel monitoring data on Thursday. U.S.-sanctioned Venezuela recovered a portion of lost production last year, but crude shipments have been […]
Colombia to Promote Foreign Investment Opportunities in NYC Event
(ProColombia, 6.May.2022) — Colombia InsideOut, the country’s flagship event for the promotion of foreign investment abroad will be held next 10 and 11 May 2022, at the facilities of Citi‘s headquarters in New York City. Led by the Colombian Securities Exchange (bvc) and ProColombia, the government agency in charge of promoting […]
Petrobras Comments on Shareholders Remuneration
(Petrobras, 5.May.2022) — Petróleo Brasileiro S.A. (Petrobras) informs that its Board of Directors, at a meeting held today, approved the payment of a dividend in the amount of R$ 3.715490 per outstanding preferred and common share. The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that […]
Brazil’s President Calls Petrobras Profits a ‘Rape’
(Reuters, 5.May.2022) — Brazilian President Jair Bolsonaro on Thursday urged state-run oil company Petrobras not to raise fuel prices again, and compared the company’s profits to a “rape” of the country. The far-right leader said a new fuel price hike by Petroleo Brasileiro SA, as the company is formally known, […]