Latin America and the Caribbean Archives - Page 89 of 220

NRGBriefs: Ecoanalitica Sees Venezuela’s Oil Rising Between 31%-91% in 2022

(Energy Analytics Institute, 6.Apr.2022) — Energy briefs including Caracas-based Econanalitica is forecasting Venezuela’s oil production and oil income will grow in 2022 vs 2021 under three different scenarios; Argentina’s Economic Minister Martín Guzmán meeting with the Argentine Ambassador in Bolivia Ariel Basteiro to discuss issues related to a bilateral agenda […]

Canacol Reveals 7.6 Tcf of Gross Mean Risked Prospective Gas Resources

(Canacol Energy, 6.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 Esperanza, VIM‐21, VIM‐5, ‎VIM-33, VIM-44 and SSJN-7 exploration blocks located in the Lower Magdalena Valley (“LMV”) basin, ‎and VMM-45, VMM-47, VMM-49, VMM-53 and […]

NRGBriefs: Mantaro Names New CEO, Petrobras Cash Tender Offers [PDF Download]

(Energy Analytics Institute, 5.Apr.2022) — Energy briefs including Mantaro Precious Metals Corp. (TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) naming Craig Hairfield to the position of CEO; Argentine agriculture sector worried about a lack of gasoil; Petrobras Global Finance B.V. (PGF), has commenced cash tender offers; the US yet to ease sanctions in […]

SBM Offshore Awarded Contracts for ExxonMobil FPSO ONE GUYANA

(SBM, 5.Apr.2022) — SBM Offshore announced that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the Yellowtail development project located in the Stabroek Block in Guyana. Under these contracts, SBM Offshore will construct, install and then lease and […]

Cuba Struggles to Buy Fuel as Imports from Venezuela Dwindle -Data

(Reuters, 5.Apr.2022) — Cuba is struggling to cover a fuel deficit as imports from Venezuela and other countries remain below historical levels and global prices boosted by Russia’s invasion of Ukraine make purchases almost unaffordable, according to analysts and data. The Caribbean country, which is dependent on fuel imports mostly […]

NRGBriefs: Exxon, Hess, and CNOOC FID Yellowtail development

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 4.Apr.2022) — Energy briefs including ExxonMobil, Hess and CNOOC taking a final investment decision (FID) for their fourth development offshore Guyana called Yellowtail, cos.’ biggest yet w/ gross production capacity of 250,000 b/d starting in 2025; and the King Abdullah Petroleum Studies and […]

Hess sanctions Yellowtail development offshore Guyana

HOUSTON, TEXAS (Hess, 4.Apr.2022) — Hess Corporation has made a final investment decision to proceed with development of Yellowtail offshore Guyana after receiving government and regulatory approvals. Yellowtail, the fourth oil development and the largest on the Stabroek Block, is expected to produce approximately 250,000 gross barrels of oil per […]

ExxonMobil Makes FID on Fourth Guyana Offshore Project Yellowtail

(ExxonMobil, 4.Apr.2022) — ExxonMobil has made a final investment decision for the Yellowtail development offshore Guyana after receiving government and regulatory approvals. The company’s fourth, and largest, project in the Stabroek Block is expected to produce approximately 250,000 barrels of oil per day starting in 2025. “Yellowtail’s development further demonstrates […]

Petrobras on Divestment of the Marlim Cluster

(Petrobras, 4.Apr.2022) — Petrobras, following up on the release disclosed on 12/14/2020, informs that its Executive Board has approved the end of the competitive process, which was in the non-binding phase, for the sale of 50% of its stake in the Marlim, Voador, Marlim Leste and Marlim Sul concessions, jointly […]

Petrobras on Letters from the Ministry of Mines and Energy

(Petrobras, 4.Apr.2022) — Petrobras has received two official letters from the Ministry of Mines and Energy confirming the withdrawal of Mr. Luiz Rodolfo Landim from the election to the company’s Board of Directors (BD) and to be the chairman of the BD, and of Mr. Adriano José Pires Rodrigues from […]

Arrow Exploration Spuds RCE-2 Well in Colombia’s Tapir Block

(Arrow Exploration, 4.Apr.2022) — Arrow Exploration Corp. (AIM: AXL ; TSXV: AXL) announced that the contracted Top Drilling Company rig has spud the Rio Cravo Este-2 (“RCE-2”) well on the Tapir Block in the Llanos Basin of Colombia. The company also shared an update on its 2022 corporate outlook. Marshall […]

Yellowtail Offshore Guyana Development Project Approved

(DPI, 1.Apr.2022) — The Government of Guyana and Esso Exploration and Production Guyana Limited (EEPGL) earlier today signed the Petroleum Production License (PPL) for the Yellowtail offshore development in the Stabroek Block Offshore Guyana. The Yellowtail project approval was a result of extensive reviews done by local and international experts. Prior to […]

Mainstream Renewable Inks Deal for 100 MW Solar Project in Colombia

(Mainstream Renewable, 1.Apr.2022) — Mainstream Renewable Power, a renewable energy company, has commercialised its first development in Colombia by signing a deal to supply 180 Gigawatt hours of clean energy each year in a private power purchase agreement (PPA). Mainstream will build the 100 MW Andromeda solar PV plant, located in Toluviejo, Colombia, to supply the electricity to Air-e, a Colombian energy distribution […]

Trinidad’s Energy has Bright Future: Young

(Trinidad and Tobago’s Newsday, 1.Apr.2022) — Energy Minister Stuart Young said Trinidad and Tobago has a key role in the world’s energy landscape, even as he continued to seek foreign investment in TT’s oil and gas sectors, he told Thursday’s post-Cabinet briefing at the Diplomatic Centre, St Ann’s. He recalled […]

Petrobras on New Pre-Salt Find in the Alto de Cabo Frio Central Block

(Petrobras, 1.Apr.2022) — Petrobras discovered a new oil accumulation in the pre-salt in the southern portion of the Campos Basin, in a wildcat well in the Alto de Cabo Frio Central block. The well 1-BRSA-1383A-RJS (Alto de Cabo Frio Central Noroeste) is located 230 km from the city of Rio […]

NRGBriefs: US-Venezuela Political Relationship; Repsol’s Sararenda-X3D Well

(Energy Analytics Institute, 1.Apr.2022) — Energy briefs including Sempra naming Glen Donovan as the co.’s new Investor Relations VP; and NPR speaking with author and journalist William Neuman about the tangled relationship between the US and Venezuela, and America’s re-assessment based on the new global oil dynamic. NORTH AMERICA US […]

Exxon Mobil gets Guyana’s Approval for Fourth Offshore Oil Project

(Reuters, 1.Apr.2022) — Exxon Mobil Corp (XOM.N) on Friday received approval to begin work on its fourth offshore oil project in Guyana from the South American country’s Environmental Protection Agency. The permit will allow Exxon to begin construction and operation of its Yellowtail project, the latest of up to 10 expected to […]

Orvana CEO Optimistic About Taguas Project in Argentina

(Orvana Minerals, 31.Mar.2022) — Orvana Minerals Corp. (TSX: ORV) reported on infill and expansion drilling results for the company’s 100%-owned Taguas Project in San Juan, Argentina. As of 27 March 2022, 24 DDH holes totaling 3,845m have been drilled, of which 1946.5m (12 DDH) have analytical readings already. Work to date represents the first […]

Parex Looks to Unlock Colombian Assets [PDF Download]

(Energy Analytics Institute, 31.Mar.2022) — Parex Resources is focused on further unlocking its Colombian asset portfolio through technology, the company said 31 March 2022 in a corporate presentation on its website. Key highlights from the presentation include: — First-mover advantage: acreage to explore, secured rigs and long-lead items, and strengthened […]

NRGBriefs: Venezuela’s Oil Minister on Oil Market Stability and Supply

(Energy Analytics Institute, 31.Mar.2022) — Energy briefs including the US Energy Department saying it is ready to execute the president of the United States’ authorization of an immediate release of 1 million barrels per day for 6 months from the Strategic Petroleum Reserve; and Trinidad and Tobago NGL Limited (TTNGL) […]

Citgo Enters 2022 With Strong Momentum

(Citgo, 31.Mar.2022) — Citgo Petroleum Corporation reported its 2021 fourth quarter and year-end financial results. For the fourth quarter of 2021, Citgo generated net income of $21mn, EBITDA (1) of $236mn and adjusted EBITDA of $139mn, representing the strongest quarterly net income and EBITDA performance since the third quarter of 2019, prior to the start […]

TTNGL Reveals Gains for 2021

(TTNGL, 31.Mar.2022) — Trinidad and Tobago NGL Limited (TTNGL) reported total company profits amounted to $512.8mn in 2021 compared with $6.4mn in 2020. This improvement drove earnings per share up to $3.31 at the end of year, versus $0.04 for the prior year period. As a result, the final dividend […]

PetroPerú Selects Honeywell Forge Solution to Support Employee Training

(Honeywell, 31.Mar.2022) — Honeywell (Nasdaq: HON) announced that Petróleos del Perú S.A. (Petroperú), the largest hydrocarbon producer, refiner and distributor in Peru, has implemented Honeywell Forge Workforce Competency solutions to train its industrial workforce for safer and more efficient operations. Petroperú is investing in digital transformation as a key part of the refinery modernization […]

TotalEnergies and Sempra Expand Alliance for the Development of LNG Exports, Renewables

(TotalEnergies, 31.Mar.2022) — TotalEnergies and Sempra are expanding their North American strategic alliance with the signing of two Memorandums of Understanding (MoU): one for the Vista Pacífico LNG export project in Mexico and the other for the co-development of several onshore and offshore renewables projects. The Vista Pacífico LNG project is planned to be […]

Petrobras on Rio De Janeiro Court of Justice Decision

(Petrobras, 31.Mar.2022) — Petrobras informs that the Court of Justice of Rio de Janeiro (TJ-RJ) decided, by majority vote, to grant the appeal of the company Paragon Offshore Nederland B.V., former supplier of rigs for oil and gas prospection. The estimated value of the lawsuit is R$ 1.9bn of which […]

PDVSA Seeks Tankers in Anticipation of US Sanctions Easing

(Reuters, 31.Mar.2022) — Venezuela’s state-run energy firm PDVSA is in talks to buy and lease several oil tankers amid a possible expansion in exports, according to three sources and a document seen by Reuters, a sign the country expects U.S. sanctions on its petroleum sector to be eased. Russia’s invasion […]

Petrobras, PetroRio Advance in Albacora Leste Talks

(Reuters, 31.Mar.2022) — Brazilian oil company PetroRio SA is close to agreeing on terms to purchase the Albacora Leste field from state-run oil company Petrobras, two sources with knowledge of the matter told Reuters, though talks around the neighboring Albacora field are proving more complex. Petrobras, formally Petroleo Brasileiro SA, […]

Distressed Argentina Oil Firm Leads Emerging-Market Bonds

(Bloomberg, 31.Mar.2022) — Only 14 months ago Argentina’s YPF SA was a nightmare for investors caught out by a $6 billion distressed debt restructuring. Now, in a swift turnaround, the 100-year-old state-run oil company is producing the best fixed-income returns in all of emerging markets. YPF has rewarded steely creditors […]

Shell Trinidad and Tobago Delivers First Gas from Colibri Project

(Shell Trinidad and Tobago, 31.Mar.2022) — Shell Trinidad and Tobago (through BG International, a subsidiary of Shell plc), announces that production has started on Block 22 and NCMA-4 in the North Coast Marine Area (NCMA) in Trinidad and Tobago. The start-up of Colibri follows the amendment to the Block 6 Production Sharing Contract […]

CNOOC Reports Record Net Profit from Growth of Reserves and Production

(CNOOC, 30.Mar.2022) — CNOOC Limited (SEHK: 00883) announced its 2021 annual results for the year ended 31 December 2021. In 2021, CNOOC Limited adhered to the business strategy of seeking progress while keeping performance stable and embedded the normalized epidemic prevention and control measures into daily operation. The company seized […]

Ecopetrol Gets Approval For Profit Distribution for Fiscal Year 2021

(Ecopetrol, 30.Mar.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the ordinary General Shareholders’ Meeting, held on 30 March 2022, approved the profit distribution proposal submitted for its consideration. This proposal establishes that an ordinary dividend per share of two hundred and forty-three pesos (COL $243) and an exceptional extraordinary dividend, equivalent to thirty-seven […]

NRGBriefs: Chevron Corp.’s $2bn debt in Venezuela [PDF downloads]

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 30.Mar.2022, Words: 583) — Energy briefs including ExxonMobil Angola celebrating an important milestone for the Kizomba A FPSO in its achieving its 1000th crude offload; Petrobras filing its Form 20-F for the year ended 31 Dec. 2021; Ecopetrol reporting that the ordinary General […]

Gazprom Expresses Interest in Selling LNG to Argentina

(Energy Analytics Institute, 30.Mar.2022) — Gazprom expressed interest in supplying liquefied natural gas (LNG) to Argentina to replace market share lost due to sanctions imposed by the US and Europe in response to Russia’s invasion of Ukraine. Gazprom reportedly sent an offer to state-owned company Integración Energética Argentina (IEASA, formerly […]

Petrobras Says BODs Approved TCP with Novonor/Odebrecht

(Petrobras, 31.Mar.2022) — Petrobras informs that its Board of Directors approved the execution of the Term of Closing of Pendencies (TCP) between, on the one hand, Petrobras and one of its affiliates (jointly, Petrobras) and, on the other hand, Novonor S.A. (previously called Odebrecht S.A.) and some of its affiliates […]

Petroperu Board Reshuffle to Strengthen Operational Capacity

(Andina, 30.Mar.2022) — The President of the Republic Pedro Castillo on Thursday affirmed that the reshuffle of Petroperu‘s board of directors will enable the State-run company to strengthen its operational capacity for the benefit of the population. “I welcome the fact that the General Meeting of Petroperu Shareholders supports this company as […]

YPF Taking Steps to Provide Diesel to Farmers Amid Shortage Concerns

(S&P Global, 30.Mar.2022) — YPF, the biggest oil producer and refiner in Argentina, said late March 29 that it is taking steps to meet farmers’ diesel demand during the spring harvest of major export crops, as concerns swell of shortages. The state-backed company said that through its more than 100 […]

NRGBriefs: Lula Participates in Discussion about Fuel Prices in Brazil

(Energy Analytics Institute, 29.Mar.2022) — Energy briefs including former Brazilian President Luiz Inácio Lula da Silva participating in a chat w/ specialists with the Federation of Oil Workers (FUP by its Portuguese acronym) to discuss the price of fuel in Brazil; Shell Colombia and state owned Ecopetrol spudding their Gorgon-2 […]

Presidential Candidate Petro’s Oil, Pension Proposals Give Investors Pause

(Reuters, 29.Mar.2022) — Leftist Colombia presidential candidate Gustavo Petro’s promises to halt new oil projects and redistribute pension funds could put the country’s economic stability at risk, investors say, though doubts remain about his ability to implement them. Petro, a senator and former M-19 guerrilla rebel, has tallied up to […]

Pemex Crude Exports Rise 11% m/m in Feb. to 925,000 bpd

(Reuters, 29.Mar.2022) — Petroleos Mexicanos (Pemex) said it exported 925,000 barrels of crude per day (bpd) on average in February, up 11.2% from the previous month, as international oil prices surged and domestic refining capacity at the state oil company stayed below target. In late December, Pemex said it planned […]

Ecopetrol Trading Asia to Dispatch 90,000 Barrels to Sinochem

(Energy Analytics Institute, 29.Mar.2022) — Ecopetrol Trading Asia, an affiliate of Ecopetrol Group with an office in Singapore, realized its first commercial operation to sell 90,000 barrels of oil to Sinochem. The cargo is expected to be dispatched in coming weeks, Ecopetrol announced 29 March 2022 in an official statement. […]

Murphy Oil Says Cutthroat-1 Exploration Well Offshore Brazil Didn’t Find Oil

(Murphy Oil, 28.Mar.2022) — Murphy Oil Corporation (NYSE: MUR) announced that drilling has concluded at the Cutthroat-1 exploration well in block SEAL-M-428 in the Sergipe-Alagoas Basin offshore Brazil. While the presence of hydrocarbons was not found, the partner group will continue to integrate the exploration well data into its regional […]

NGC Inks Gas Supply Contract with TCL

(NGC, 28.Mar.2022) — The National Gas Company of Trinidad and Tobago Limited (NGC) signed a Gas Sales Contract (GSC) with local cement manufacturer, Trinidad Cement Limited (TCL). This agreement will govern the sale of natural gas to TCL and represents an important step forward for both companies after an extended […]

EIG and Fluxys Partner in GNL Quintero S.A. Plant in Chile

(EIG, 28.Mar.2022) — EIG, an institutional investor to the global energy and infrastructure sectors, and Fluxys, an energy infrastructure company, announced they jointly will acquire an 80% equity stake in GNL Quintero S.A., the largest liquefied natural gas (LNG) regasification terminal in Chile, from Enagas Chile SpA and affiliates of […]

NRGBriefs: Atlantic LNG Could Save Venezuela Cos. Money Needed for Export

(Energy Analytics Institute, 28.Mar.2022) — Energy briefs including Touchstone Exploration Inc. (TSX, LSE: TXP) reported its 4Q:21 and YE:21 operating and financial results; and Caracas-based Venezuelan Private Capital Association or Venecápital saying that Venezuelan companies in the eastern region of the OPEC country could look to Trinidad and Tobago’s Atlantic […]

Talos Reveals Finalization of the Zama Unitization Process

(Talos, 28.Mar.2022) — Talos Energy Inc. (NYSE: TALO) has received the final Unitization Resolution (“UR”) from Mexico’s Ministry of Energy (SENER) regarding the development of the Zama field in offshore Mexico. Among other things, the UR affirms the appointment of Petróleos Mexicanos (Pemex) as operator of the unit. Unitization of […]

Peru’s President Avoids Impeachment after Marathon Debate

(Al Jazeera, 28.Mar.2022) — Peru’s President Pedro Castillo avoided impeachment by the country’s opposition-dominated legislature on Monday after a parliamentary debate lasting more than eight hours. Fifty-five legislators voted in favour of impeachment, 54 voted against and 19 abstained. The president’s critics needed 87 votes to impeach the leader, who was accused […]

Brazil Government Plans to Replace Petrobras CEO Joaquim Silva E Luna

(WSJ, 28.Mar.2022) — Brazil’s Mining and Energy Ministry said Monday the government intends to replace Joaquim Silva e Luna as chief executive of state-controlled Petróleo Brasileiro SA, or Petrobras, with Adriano Pires, an oil sector consultant with government experience. The change comes after weeks of criticism by Brazilian President Jair […]

Triangle Lithium LLC Starts Antofalla Drilling Campaign in Argentina

(Triangle Lithium, 28.Mar.2022) — Triangle Lithium LLC’s subsidiary Triangle Lithium Argentina, SA (Trila), a joint venture with Lithium Energi Argentina, SA (LEA), finalized and executed all the contracts required to kick off its drilling campaign in the Antofalla Salar in Catamarca Province, Argentina. Work will commence in the next ten days. […]

War Turns Argentina’s Shale Boom Dream into Gas-Buying Nightmare

(Bloomberg, 28.Mar.2022) — Argentina, home to some of the world’s vastest gas reserves, is bracing for the unthinkable: rationing one of its chief natural resources. Despite having shale-gas deposits to rival those in Appalachia, which made the U.S. a major exporter, Argentina’s gas industry has suffered from years of underinvestment that’s left it […]

Petrobras CEO Ousted Amid Spat Over Fuel Prices

(Bloomberg, 28.Mar.2022) — Latin America’s biggest oil producer Petroleo Brasileiro SA will have its third chief executive officer since early 2021 after Joaquim Silva e Luna was pushed out following growing political pressure to contain fuel prices. Luna’s ouster after just a year in the role comes less than a […]