Category: Latin America and the Caribbean

NRGBriefs: Mexico Approves Mining Reform; Argentine Inflation Around 6.7%

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(Energy Analytics Institute, 18.Apr.2022) — Energy briefs including Mexico’s Chamber of Deputies approving the Mining Law reform, which reserves exploration, exploitation and use of lithium to the state; Argentina’s inflation reaching 6.7% in March 2022, according to economists; power outages impacting citizens in Valencia, Venezuela in Carabobo state; and more. […]

Luminex Acquires the Chalapo Concessions from Codelco in Ecuador

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(Luminex Resources, 18.Apr.2022) — Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) signed a binding agreement with CorporaciĂłn Nacional del Cobre de Chile (Codelco) to acquire its 100% owned Chalapo concessions (the “Project”) in the Loja province of Ecuador for $60,000 of consideration and a 1.0% NSR. 0.5% of the NSR can be purchased by Luminex for $5mn before the year […]

Guzmán Says YPF’s Recuperation “Was an Act of Sovereignty”

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(Energy Analytics Institute, 16.Apr.2022) — The recovery of Argentina’s state oil giant YPF some 10 years ago was an act of sovereignty that changed the dynamics of the sector and made the Vaca Muerta formation relevant, according to Argentina’s Economic Minister MartĂ­n Maximiliano Guzmán. The most relevant transformation was the notable increase […]

Mexico’s Electricity Reform Draws Opposition from Investors, US

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(The Washington Post, 16.Apr.2022) — Mexico’s congress will decide on Sunday whether to give the government near-total control over the country’s electricity sector in what analysts consider one of the biggest threats to the country’s private sector in years, moving away from the production of clean energy, jeopardizing foreign investment […]

Colombia’s President Iván Duque Touts Oil Production Potential

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(Energy Analytics Institute, 14.Apr.2022) — Colombia’s President Iván Duque talked about Colombia’s oil production potential, coal production, and Colombia’s relationship with the US during a televised interview with Bloomberg during his trip to New York. Excerpts from his interview follow. Highlights — Colombia has a chance to sale more oil […]

NRGBriefs: Trinidad’s Gas Production in Jan. 2022 Down 4% Y-O-Y

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(Energy Analytics Institute, 14.Apr.2022) — Energy briefs including Trinidad and Tobago’s natural gas production reaching 2,877 MMcf/d (2.877 Bcf/d) in Jan. 2022, down 4% vs Jan. 2021; Great Panther Mining Limited reporting production results from its two wholly-owned operating mines, Tucano in Brazil and Topia in Mexico; and more. LATIN AMERICA AND THE CARIBBEAN […]

Cuenca Gets its First Electric Vehicle Charging Station

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(Energy Analytics Institute, 14.Apr.2022) — Ecuador inaugurated its first electric vehicle fast charging station in Cuenca, Azuay on 12 April 2022 with an initial investment of over $80,000. The deal is part of an inter-institutional cooperation agreement between the Centrosur Regional Electric Company and the University of Cuenca, Ecuador’s Ministry […]

NRGBriefs: Argentina Inflation Likely to Exceed 6% in March 2022

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(Energy Analytics Institute, 13.Apr.2022) — Energy briefs including economists in Argentina expecting inflation in Mar. 2022 to exceed 6%; and Energy Analytics Institute’s short takeaway on US sanctions on the Venezuelan gov’t and PDVSA only worsening living conditions for the majority of Venezuelan citizens. LATIN AMERICA AND THE CARIBBEAN Argentina […]

Petrobras Approves Dividends Payment

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(Petrobras, 13.Apr.2022) — Petrobras, following up on release disclosed on 23 February 2022, informs that, in a meeting held today, the Annual General Meeting (AGM) approved the remuneration to shareholders relative to the Fiscal Year 2021 in the amount of R$ 7.773202 per outstanding share (common or preferred). This amount […]

Exxon Starts Construction of Guyana Campus

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(Energy Analytics Institute, 13.Apr.2022) — ExxonMobil continues to work closely with its local partners in Guyana to develop its new office campus in the small South American country. The oil giant has commenced construction of the steel superstructure for the project, which is expected to span 120,000 square feet. The […]

SEOGS 2022 Brochure Now Available

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(Global Events Partners, 12.Apr.2022) — The main brochure for the 2nd edition of the Suriname Energy, Oil & Gas Summit and Exhibition is available now! “If you are still deciding whether or not your company should be participating in SEOGS 2022 then download the brochure to read the welcome letter […]

NRGBriefs: Trinidad’s fuel subsidy; Citgo Giusti departure; “almost out of the Faja”

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(Energy Analytics Institute, 12.Apr.2022) — Energy briefs including Trinidad and Tobago’s Finance Minister Colm Imbert commented 12 Apr. 2022 on Twitter about the twin-island country’s fuel subsidy; NewGold announcing plans to release its 1Q:22 financial results; Citgo Petroleum confirming the departure of Luis Giusti Lugo from its Board of Directors; […]

Noble Corp. and Maersk Drilling Update on the Merger Control Process

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(Noble Corp. 12.Apr.2022) — Noble Corporation (NYSE: NE) and The Drilling Company of 1972 A/S (CSE: DRLCO) (“Maersk Drilling”, and together with Noble, the “Parties”) provided an update on the ongoing merger control process for the business combination announced on 10 November 2021 (the “Transaction”). At this point in time, […]

HIF Global Secures $260mn in Equity Investments

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(HIF Global, 6.Apr.2022) — HIF Global, involved in eFuels development, secured approximately $260mn in equity investments to fund the global expansion of its decarbonization business. The capital will be used for the development of carbon-neutral eFuels projects in the United States, Chile and Australia that will supply ships, cars, trucks, and airplanes with renewable energy. The equity […]

Aris Gold Completes Soto Norte JV Investment

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(Aris Gold, 12.Apr.2022) — Aris Gold Corporation (TSX: ARIS) (OTCQX: ALLXF) announces that, further to the company’s news release of 21 March 2022, it has closed the acquisition of a 20% joint venture interest in the Soto Norte gold project in Colombia, with the option to acquire a further 30% interest. Aris Gold has […]

The World Bank: LAC Returns to Pre-Pandemic “Unsatisfactory Growth Rates”

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(Energy Analytics Institute, 11.Apr.2022) — This week The World Bank published its 62-page semiannual report for Latin America and the Caribbean (April 2022) dubbed “Consolidating the Recovery: Seizing Green Growth Opportunities.” Guyana’s nascent petroleum sector is expected to help the country’s gross domestic product (GDP) expand by 47.9% in 2022, […]

Colombia Launches Green Taxonomy at NYSE

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(Energy Analytics Institute, 11.Apr.2022) — Colombian officials including President Iván Duque, Mines and Energy Minister Diego Mesa Puyo, and Finance and Public Credit Minister JosĂ© Manuel Restrepo Abondano visited the New York Stock Exchange (NYSE) to launch the South American country’s green taxonomy, an instrument designed to mobilize resources from […]

Guyana is Far from its Dream of Becoming a Rich Economy

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(Energy Analytics Institute, Special Contributor Millan Arcia Einstein, 11.Apr.2022) — Exxon and the Guyana government claim total hydrocarbon “resources of around 10,000 million barrels of equivalent oil”. Important to understand that these are recoverable resources in equivalent oil barrels, and not commercially recoverable crude oil reserves. Establishing the difference between […]

Petrobras on Cumulative Vote Process for AGM

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(Petrobras, 11.Apr.2022) — Petrobras, in compliance with article 30, item XXXIV, of CVM Instruction 480/09, informs that it received from shareholders who jointly hold more than 5% (five percent) of its common shares, the request to adopt the cumulative vote system in the election of members of Board of Directors […]

Canacol Energy’s Eyes Pola 1 Exploration Well in 3Q:22

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(Canacol, 11.Apr.2022) — Canacol Energy Ltd. (TSX: CNE; OTCQX: CNNEF; BVC: ‎CNEC) reported on the conventional natural gas prospective resources (resources other than reserves) ‎for its Pola-1 prospect on the VMM-45 exploration block located in the Middle Magdalena Valley (“MMV”) basin of Colombia (the “Audited Area”). Boury Global Energy Consultants […]

NRGBriefs: Mexicans Back Recall Vote; Neuquén Officials on Houston Roadshow

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(Energy Analytics Institute, 11.Apr.2022) — Energy briefs including approximately 90% of Mexican citizens voting this past weekend to back a recall election that would allow President AndrĂ©s Manuel LĂłpez Obrador to stay in office; Argentina is looking to significantly boost oil and gas production by 2030, Argentina’s governor of NeuquĂ©n […]

Latin America Inflation Shocks Raise Prospect of More Rate Hikes

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(Bloomberg, 8.Apr.2022) — Latin America’s central bankers are facing renewed pressure to extend aggressive interest-rate hikes after consumer prices stormed past estimates across the region, driven by soaring costs of raw materials. March’s inflation blew past even the most pessimistic forecasts in Brazil and Chile, according to official numbers released […]

NRGBriefs: Petrobras Releases Climate Change Supplement [PDF Download]

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(Energy Analytics Institute, 7.Apr.2022) — Energy briefs including Petrobras releasing its Climate Change Supplement as part of its dialogue with its stakeholders; Petrobras reaffirming “its stake in Braskem is part of the portfolio of assets for sale by the company, as disclosed in the Strategic Plan 2022-2026;” Occidental releases conference […]