(Reuters, 5.May.2022) — The use of commercial fracking in Colombia could boost oil and gas reserves by between 12 and 15 years, majority state-owned oil producer Ecopetrol said on Thursday, adding it expects a ruling on the suspended environmental license for a fracking pilot project to come in June. Supporters […]
Category: Latin America and the Caribbean
Sempra Announces 1Q:22 Earnings of $612mn
(Sempra, 5.May.2022) — Sempra (NYSE: SRE) (BMV: SRE) today announced first-quarter 2022 earnings of $612mn, or $1.93 per diluted share, compared to first-quarter 2021 earnings of $874mn, or $2.87 per diluted share. On an adjusted basis, the company’s first-quarter 2022 earnings were $924mn, or $2.91 per diluted share, compared to $900 million, or $2.95 per diluted share, in 2021. “At Sempra, we understand […]
Pan American Silver Reveals Sustainability Report for 2021
(Pan American Silver Corp., 5.May.2022) — Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) released its 2021 Sustainability Report, describing Pan American’s efforts and performance in the areas of environment, social and governance. A Spanish version of the report will be released soon. Highlights of Pan American’s 2021 sustainability performance include: Environment Reduced greenhouse […]
Unlikely Exxon Guyana to Sustain Production Target for 2027
(Energy Analytics Institute, Special Contributor Millan Arcia Einstein, 5.May.2022) — New hydrocarbon discoveries offshore Guyana, were announced last week totaling 31 so far. Exxon-Guyana claims resources around 11,000 million barrels (MMbbls), although as previously said, net crude oil recoverable reserves will ultimately be not far from the 4,400 to 3,100 […]
Murphy Reports 1Q:22 Net Loss of $113mn
(Murphy, 4.May.2022) — Murphy Oil Corporation (NYSE: MUR) announced its financial and operating results for the rst quarter ended 31 March 2022, including a net loss attributable to Murphy of $113mn, or $0.73 net loss per diluted share. Adjusted net income, which excludes discontinued operations and other one-o items, was […]
Petrobras to Invest $5.5bn in Extracting Activity in the Next Five Years
(Petrobras, 4.May.2022) — A Petrobras executive highlighted new discoveries in oil and gas during Bratecc meeting, a parallel event to the Offshore Technology Conference (OTC), in Houston (USA). The recent pre-salt oil discoveries, in the Central Alto de Cabo Frio and Aram areas, open up a scenario of new extraction […]
Ecopetrol on Sanction Imposed by ANLA Related to Poliducto Andino
(Ecopetrol, 4.May.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that the Agencia Nacional de Licencias Ambientales (ANLA) notified on 3 May 2022 through Resolution 881 that Ecopetrol had been declared responsible of undertaking during the construction phase of the hydrocarbon transportation Poliducto Andino project, works that were not covered […]
APA Corp. Reports 1Q:22 Production of 404,000 BOE/D
(APA Corporation, 4.May.2022) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first-quarter 2022. APA reported net income attributable to common stock of $1.9bn, or $5.43 per diluted share. When adjusted for items that impact the comparability of results, most notably the gains on the closing […]
Petrobras Concludes Divestment of Bahia Terra Cluster
(Petrobras, 4.May.2022) — Petrobras, regarding the news published in the media, informs that it has concluded the new round of the sale process binding phase of the onshore production fields located in the Recôncavo and Tucano Basin, in the state of Bahia, jointly called Bahia Terra Cluster. The consortium formed […]
Talos Energy Reveals 1Q:22 Results, Increases Borrowing Base
(Talos, 4.May.2022) — Talos Energy Inc. (NYSE: TALO) announced its operational and financial results for the first quarter of 2022 and the increase of its borrowing base under the company’s reserves-based lending (“RBL”) credit facility as part of its semi-annual redetermination process. Key Highlights: Production of 63.2 thousand barrels of oil […]
Ecopetrol and Petrobras spud Uchuva-1 Well offshore Colombia
HOUSTON, TEXAS (Energy Analytics Institute, 4.May.2022) — State oil companies Ecopetrol and Petrobras spud the Uchuva-1 well offshore Colombia’s Caribbean coast in the Tayrona Block. Uchuva-1 will test the hydrocarbon structure located offshore La Guajira and investigate exploration potential in a new area, Bogotá-based Ecopetrol announced 4 May 2022 in […]
NRGBriefs: Marathon’s Equatorial Guinea Output; Murphy on Brazil and Mexico
(Energy Analytics Institute, 4.May.2022) — Energy and political briefs including Marathon Oil reporting 1Q:22 production from Equatorial Guinea of 64 net Mboe/d; the US providing over $6mn in additional humanitarian assistance to support Venezuelan refugees and migrants, and their host communities in Chile; and US Department of State Assistant Secretary […]
Livent Reports 1Q:22 Revenue of $143.5mn
(Livent Corporation, 3.May.2022) — Livent Corporation (NYSE: LTHM) reported results for the first quarter of 2022. Revenue was $143.5mn, up 17% from the fourth quarter of 2021 and 56% higher compared to the prior year. Reported GAAP net income was $53.2mn, 609% higher than the previous quarter, and 28 cents per diluted share. Adjusted EBITDA was $53.3mn, […]
Iranian Oil Minister Meets Venezuela’s President Maduro in Caracas
(AFP, 3.May.2022) — Iran’s oil minister has paid an official visit to ally Venezuela to meet President Nicolas Maduro and discuss ways to “overcome” the effects of US sanctions against both nations, officials said. “I received His Excellency Javad Owji, Oil Minister of the sister Islamic Republic of Iran,” Maduro […]
TTNGL Releases 2021 Annual Report
(TTNGL, 3.May.2022) — ‘Successful, Steadfast, Secure’ is a fitting theme for the TTNGL Annual Report 2021 as the Company’s financial performance reflect a major uplift of 373.6% in profit after tax over 2020 (excluding impairment reversal). The report, which was published to TTNGL’s website on 30 April 2022, shows that […]
Frontera Reports 1Q:22 Net Income of $102.2mn
(Frontera, 3.May.2022) — Frontera Energy Corporation (TSX: FEC) reported financial and operational results for the first quarter ended 31 March 2022. 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 continued to deliver strong performance results […]
Ecopetrol to Release 1Q:22 Results, Hold Quarterly Calls
(Ecopetrol, 3.May.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announces that on Tuesday 10 May 2022, after market close, it will release its financial and operating results for the first quarter 2022. On Wednesday, 11 May 2022, Ecopetrol’s senior management will host two conference calls to review the results, one in Spanish and the […]
Venezuela and Iran to Deepen Oil and Defense Ties
(Energy Analytics Institute, 2.May.2022) — Venezuela’s Oil Minister Tareck El Aissami held a working meeting in Caracas with his Iranian counterpart Javad Owji to discuss deepening bilateral cooperation mechanisms between both countries in the oil and defense sectors. The ministers also reviewed different opportunities for bilateral cooperation in the petrochemical […]
NRGBriefs: FMC LatAm Sales; Rig Mobilized in Suriname
(Energy Analytics Institute, 2.May.2022) — Energy briefs including FMC Corp.’s LatAm sales rising 31% YOY in 1Q:22 “driven by robust volume growth in soybean, corn and sugarcane as well as price rises and a 6% currency tailwind”; Enel Américas (NYSE: ENIA) filing its 2021 annual report on Form 20-F w/ the […]
Argentina Lithium Delineates Potential Extent of Aquifers at Rincon West
(Argentina Lithium, 2.May.2022) — Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) announces the completion of geophysical surveys at its Rincon West lithium project in Salta Province, Argentina. The results of these deep-seeking geophysical studies expand the potential extent of conductive brine aquifers at the project and will be used […]
Astra Drills Multiple Gold Intercepts at Pampa Paciencia Project, Chile
(Astra Exploration, 2.May.2022) — Astra Exploration Inc. (TSXV: ASTR) provided results from the first 11 of 30 completed drill holes at the Pampa Paciencia gold-silver project in northern Chile. PPRC-22-12: 14.48 grams per tonne (g/t) gold and 39.7 g/t silver over 3 metres downhole (mDH) within a broader zone of 2.71 g/t […]
Avino Grants Option to Endurance Gold to Acquire Olympic Claims
(Avino Silver, 2.May.2022) — Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6) announced that in line with its strategic plans to become an intermediate producer in Mexico, the company has granted Endurance Gold Corporation (EDG – TSX.V; ENDGF – OTC Pink; 3EG – Berlin Open Market, or “Endurance”) […]
Guyana Aims to Avoid Oil Curse by Spending on Health and Education
(FT.com, 2.May.2022) —The president of Guyana, the world’s fastest-growing economy, is inviting investors to back his ambitious vision to transform the small South American country into a regional health, education and transport hub with the help of burgeoning oil wealth. “We’re investing tremendously in healthcare. and we’re investing heavily in […]
TechnipFMC adds additional contract for Yellowtail development
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 2.May.2022) — TechnipFMC has been awarded an additional contract and received notice to proceed by ExxonMobil affiliate Esso Exploration and Production Guyana Limited for its Yellowtail development in the Stabroek Block offshore Guyana. The newly announced significant(1) flexibles contract covers 6 risers which […]
Petrobras Starts Production from FPSO Guanabara in the Mero Field
(Petrobras, 2.May.2022) — Petrobras informs that, on 30 April 2022, it started producing oil and natural gas through FPSO Guanabara, the first definitive production system installed in the Mero field, in the Santos Basin pre-salt. The platform, an FPSO (floating unit for the production, storage, and transfer of oil and […]
Libra Consortium Starts Production at Mero Field’s FPSO Guanabara
(Shell Brasil, 2.May.2022) — Shell Brasil Petróleo Ltda., a subsidiary of Shell plc, announces the start of production of the FPSO Guanabara in the Mero field, offshore Santos Basin in Brazil. The FPSO Guanabara, which while under construction was also known as Mero-1, has an installed capacity of 12 million cubic […]
Hunt Oil on Solicitation for its 6.375% Senior Notes
(Hunt Oil, 2.May.2022) — Hunt Oil Company of Peru L.L.C., Sucursal del Perú (HOCP) received the consents necessary to effect the Amendments to the indenture governing its 6.375% Trust Enhanced Senior Notes due 2028 (CUSIP Nos.: Rule 144A: 445640 AB1, Regulation S: P5300P AB9), (ISINs: Rule 144A: US445640AB18, Regulation S: […]
Ecopetrol on Divestment of Inversiones de Gases de Colombia S.A.
(Ecopetrol, 2.May.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) reports that in the board meeting held on 29 April 2022, the board of directors authorized the divestment of its entire ownership in Inversiones de Gases de Colombia S.A. (Invercolsa), which corresponds to an equity stake of 51.8%. Such divestment is subject to […]
Venezuelan Workers Celebrate May Day with President Maduro
(Energy Analytics Institute, 1.May.2022) — Venezuelan workers from across various sectors together with workers from the still important petroleum sector marched to Miraflores Presidential Palace in Caracas to celebrate international workers’ day together with President Nicolás Maduro. Simultaneous mobilizations also took place in other states across the OPEC country including […]
NRGBriefs: May Day Celebrations, No Expropriations Expected
(Energy Analytics Institute, 1.May.2022) — Energy briefs including Trinidad and Tobago’s Prime Minister Keith Rowley and Minister of Energy and Energy Industries Stuart Young visiting Washington, DC to discuss regional energy matters; May Day (1 May) celebrations taking place across the Latin America and the Caribbean (LAC) region but no […]
Mexico Opposition Party Pitches Free Solar Panels for Housing
(Reuters, 1.May.2022) — Mexico’s biggest opposition party on Sunday proposed installing solar panels for free onto residential housing, staking out its renewable energy credentials as it seeks to challenge the ruling party of President Andres Manuel Lopez Obrador. Marko Cortes, leader of the center-right National Action Party (PAN), said the […]
NRGBriefs: Guyana’s GDP Growth
(Energy Analytics Institute, 30.Apr.2022) — Energy briefs including rising production and robust oil prices to aid Guyana’s gross domestic product growth in coming years. LATIN AMERICA AND THE CARIBBEAN Guyana — Rising production and robust oil prices will aid Guyana’s GDP growth. The country’s GDP will be the highest in […]
Brazil Chemical Maker Unigel Interested in Petrobras’ Fertilizer Project
(Reuters, 29.Apr.2022) — Brazilian chemical maker Unigel is interested in purchasing a fertilizer project from Brazilian state-run oil company Petrobras in the state of Mato Grosso do Sul, its chief executive told Reuters on Friday. The operation of the unit, whose capacity as designed by Petrobras was 3,600 tonnes per […]
Colombia’s ANH Imposes $4,550 Sanction on Ecopetrol
(Ecopetrol, 29.Apr.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) it received notification in the Resolution No. 315 of 26 April 2022 that it was being sanctioned for an amount equivalent to four thousand five hundred and fifty dollars (US$4,550) by the Agencia Nacional de Hridorcarburos (ANH by its Spanish acronym). The sanction is […]
Vaca Muerta Drilling Slated for Argentina’s Mata Mora Norte Area
(Energy Analytics Institute, 29.Apr.2022) — Argentina’s Ministry of Energy and Natural Resources for the Province of Neuquén visited with Phoenix Global Resources together with Gas y Petróleo del Neuquén S.A. to discuss activities related to the unconventional exploitation of the Vaca Muerta formation in the Mata Mora Norte area. During […]
Agnico Eagle Reveals Election of Directors
(Agnico Eagle Mines Limited, 29.Apr.2022) — Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) announced that, at the annual and special meeting of shareholders held on 29April 2022, each of the 12 nominees listed in the management information circular dated 21 March 2022, were elected as directors of Agnico Eagle. Detailed results of the […]
FACT BOX: Why it’s necessary to upgrade Venezuela’s heavy oils
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 29.Apr.2022, Words: 108) — The purpose for upgrading Venezuela’s heavy and extra-heavy crude oil (EHCO) is to achieve substantial changes in values that determine the quality of the oil. Such changes include: increasing the API value; reducing viscosity; reducing the content […]
Petrobras Increases Natural Gas Prices to Distributors by 19%
(Reuters, 29.Apr.2022) — Brazil’s state-run oil company Petrobras said on Friday it will increase natural prices for distributors in the country by an average 19% starting May 1. According to Petrobras, the adjustment follows the updating of formulas agreed with distributors, based on the variation of gas prices, Brent oil […]
NRGBriefs: Exxon exits Sakhalin-1; LyondellBasell on seasonal demand
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 29.Apr.2022, Words: 451) — Energy briefs including Exxon discontinuing operations at the Sakhalin-1 venture; and LyondellBasell Industries (NYSE: LYB) expecting typical improvements in summer seasonal demand will extend market strength for its products. LATIN AMERICA AND THE CARIBBEAN Guyana
Exxon Mobil CEO Darren Woods on 1Q:22 Results – Earnings Transcript
(Seeking Alpha, 29.Apr.2022) — Exxon Mobil Corporation (NYSE:XOM) Q1 2022 Earnings Conference Call 29 April 2022 9:30 AM ET. Company Participants Jennifer Driscoll – VP IR Darren Woods – Chairman and Chief Executive Officer Kathy Mikells – Senior Vice President and Chief Financial Officer Conference Call Participants Phil Gresh – […]
SilverCrest’s Las Chispas Construction Update – Commissioning for 2Q:22
(SilverCrest Metals, 29.Apr.2022) — SilverCrest Metals Inc. provided an update on construction activities at the company’s Las Chispas Project located in Sonora, Mexico. All currency amounts herein are presented in United States Dollars, unless otherwise stated. Highlights Commissioning On Schedule for Q2, 2022 – At the end of the first quarter of 2022 (“Q1, […]
Enel Chile Files its 2021 Annual Report on Form 20-F
(Enel Chile, 28.Apr.2022) — Enel Chile (NYSE: ENIC) announced that it filed its 2021 annual report on Form 20–F with the US Securities and Exchange Commission (SEC) on 28 April 2022. Enel Chile is an integrated utility company engaged in the electricity generation, distribution, and services businesses in Chile through Enel Generación Chile S.A., […]
Petrobras on the Sale of its Stake in Deten
(Petrobras, 28.Apr.2022) — Petrobras, following up on the release disclosed on 04/27/2021, informs that today it signed a contract with Cepsa Química S.A. for the sale of its entire stake (27.88%) in Deten Química S.A (Deten), located in the industrial complex of Camaçari, in the state of Bahia. Cepsa Química […]
NRGBriefs: The Vennie-Trini Gas Dilemma; TotalEnergies’ 1Q:22 Results
(Energy Analytics Institute, 28.Apr.2022) — Energy briefs including Venezuela’s inability to develop its gas sector presenting a massive opportunity for neighboring Trinidad and Tobago with its already well-established gas economy and massive four-train Atlantic LNG export complex; Paris-based TotalEnergies reporting 1Q:22 financial results; and Spanish oil giant Repsol reporting production […]
Petrobras on UFN III Sale Process
(Petrobras, 28.Apr.2022) — Petrobras, following up on the release disclosed on 02/21/2020 and 02/04/2022, informs that sale process of 100% of its Nitrogen Fertilizer Unit III (UFN-III), located in the city of Três Lagoas, Mato Grosso do Sul, with the Russian group Acron hasn’t been concluded, considering that the business […]
Equinox Gold Reports Drill Results from the Bahia Belt in Brazil
(Equinox Gold, 28.Apr.2022) — Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) announced positive drill results from 2021 exploration drilling in the 70-km-long greenstone belt in Bahia State, Brazil that hosts the company’s 100%-owned Fazenda and Santa Luz gold mines (“Bahia Belt”). Exploration has identified multiple near-mine and regional discoveries that highlight growth […]
CNOOC Reveals 1Q:22 Results after A Share Listing, Declares Special Dividend
(CNOOC, 28.Apr.2022) — CNOOC Limited (SEHK: 00883, SSE: 600938) announced its results for the first quarter of 2022. For the first quarter of 2022, the company seized the opportunity of oil price recovery to continue to increase its reserves and production, and actively promoted the green energy transition. Measures to reduce costs […]
Back to Mexico’s Statist Energy Future
(Forbes, 28.Apr.2022) — An ambitious effort to definitely steer Mexico back to a statist energy future was narrowly defeated this last week, leaving its energy sector still officially open to the private sector but largely unattractive to all but the most speculative investors. More than half of Mexico’s lower chamber […]
Petrobras Highlights Its 1Q:22 Production and Sales
(Petrobras, 27.Apr.2022) — In 1Q22, Petrobras kept a solid operating performance, with average oil, NGL and natural gas production reaching 2.80 MMboed, 3.4% above 4Q21. This result was achieved mainly due to the continuity of the ramp-ups of FPSOs Carioca (Sépia field) and P-68 (Berbigão and Sururu fields), located in […]
Petrobras on Receiving Sépia Compensation
(Petrobras, 27.Apr.2022) — Petrobras received, at sight, the amount of R$14.55bn from TotalEnergies EP Brasil Ltda., Petronas Petróleo Brasil Ltda. and QP Brasil Ltda., related to the 70% stake of these companies in the Sépia compensation, block acquired by the consortium composed by Petrobras (30%), TotalEnergies (28%), Petronas (21%) and […]