(CGX Energy, 14.Feb.2022) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), the majority shareholder of CGX and joint venture partner of CGX, announced that, as a result of the initial positive results at the Kawa-1 exploration well, the joint venture will focus on the significant exploration […]
Category: Latin America and the Caribbean
FPSO Liza Unity Producing and on Hire
(SBM Offshore, 14.Feb.2022) — SBM Offshore announced that FPSO Liza Unity has produced first oil as of February 11, 2022 and is formally on hire. The FPSO Liza Unity is the first unit with a design based on SBM Offshore’s industry leading Fast4Ward® program which incorporates the company’s new build, multi-purpose floater hull combined with […]
Baker Hughes Expands Presence in Guyana with Opening of Major Facility
(Baker Hughes, 14.Feb.2022) — Baker Hughes has expanded its presence in Guyana through the opening of a new local supercenter facility for oilfield services and equipment. The supercenter, which spans more than 8 acres, will support regional customers and bolster Baker Hughes’ localization efforts within South America. Baker Hughes has […]
Brazil has Oil. Exxon Can’t Seem to Find It
(Reuters, 14.Feb.2022) — Exxon Mobil Corp has bet billions of dollars on offshore drilling in Brazil, an area it once abandoned and now sees as key to its future. But five years into its comeback, the U.S. oil giant has yet to make a major oil discovery as an operator […]
Petrobras Registers Record Pre-Salt Production in 2021
(Zacks Equity Research, 14.Feb.2022) — Brazilian state-owned oil major Petrobras (PBR) announced that it accomplished its best pre-salt output from its offshore fields last year, averaging 1.95 million barrels of oil equivalent per day (Mboe/d). This represents about 70% of the company’s entire production and is twice as much as the aggregate […]
T&T to Co-chair Climate Finance Goal
(Trinidad Express, 13.Feb.2022) — Trinidad and Tobago has been appointed to co-chair the ad hoc work programme on the new climate finance goal by president of the 26th Conference of the Parties on Climate Change (COP 26), Alok Sharma, the Ministry of Planning and Development announced yesterday. In a letter […]
ExxonMobil’s Second Development Starts Operations Offshore Guyana
(ExxonMobil, 11.Feb.2022) — ExxonMobil started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2, bringing total production capacity to more than 340,000 barrels per day in only seven years since the country’s first discovery. Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel […]
NRGBriefs: Trinidad Energy Minister Meets with Executives about Project Lara
(Energy Analytics Institute, 11.Feb.2022) — Energy briefs including Stuart Young, Trinidad and Tobago’s head at the Ministry of Energy and Energy Industries meeting with corporate executives at BP, Shell and Lightsource BP about the Project Lara; and Texas-based Exxon’s commenting on carbon capture and storage (CCS); and more. LATIN AMERICA […]
Hess Starts Production from Liza Phase 2 Development, Offshore Guyana
(Hess, 11.Feb.2022) — Hess Corporation (NYSE: HES) announced startup of production from the Liza Phase 2 development on the Stabroek Block offshore Guyana, utilizing the Liza Unity floating production, storage and offloading (FPSO) vessel. The Liza Unity is expected to reach its production capacity of 220,000 gross barrels of oil per day […]
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SBM Offshore Provides Project Update [PDF Download]
(SBM Offshore, 10.Feb.2022) — SBM Offshore provided a status update on individual projects from Guyana to Brazil. Guyana FPSO Liza Destiny The third stage flash gas compressor on the unit remains stable and continues to operate. Additional engineering activities are ongoing to finalize a redesigned flash gas compressor with an […]
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NRGBriefs: St. Kitts and Nevis’ Energy Report Card [PDF Downloads]
(Energy Analytics Institute, 10.Feb.2022) — Energy briefs including St. Kitts and Nevis’ Energy Report Card (ERC) providing an overview of the energy sector performance; and SBM Offshore reporting a dividend increase based on strong performance, and record order book providing cashflow visibility until 2050 of $29.5bn. LATIN AMERICA AND THE […]
Petrobras Receives Int’l Award for debt Management
(Petrobras, 10.Feb.2022) — Petrobras was the winner of the “Deals of the Year” award, promoted by the North American magazine Latin Finance, in the category that highlights the best corporate debt management operation (Corporate Liability Management of the Year), in the year 2021. This is the fourth time, in the […]
More Gas Pains for T&T
(Trinidad Guardian, 10.Feb.2022) — T&T can expect 2022 to be another year of major natural gas shortages that will negatively impact the country’s economy, LNG exports and the downstream petrochemical sector. The country’s largest natural gas supplier bpTT has confirmed that it will this year produce a mere 1.25 billion […]
NGC Shakeup: Govt Gets Rid of Two Directors at NGC
(Trinidad Guardian, 10.Feb.2022) —In a shake-up of the board of directors of the National Gas Company Ltd (NGC), the Cabinet last week decided not to renew the contract of Sean Balkissoon one of only two directors who voted against the ill-fated NGC attempt to save Atlantic LNG Train 1 and […]
TotalEnergies Seeks Exit from Venezuelan Gas Projects
(Bloomberg, 10.Feb.2022) — TotalEnergies SE is negotiating an exit from its natural gas operations in Venezuela, just months after the French energy giant closed its oil business in the country. The company is pulling out of its majority stake in YPergas SA, a joint venture in central Guarico state that produces […]
![Petrobras Provides 4Q:21 Production and Sales Highlights [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/02/BRA_4Q21-production-and-sales-report_petrobras-header.jpg)
Petrobras Provides 4Q:21 Production and Sales Highlights [PDF Download]
(Petrobras, 9.Feb.2022) — Petrobras posted an excellent operational performance in 2021, reaching all production targets for the year with the achievement of the following marks: The highlights for 2021 were: • FPSO Carioca production start-up, on August 23, the first platform in SĂ©pia field, in Santos Basin pre-salt. Throughout the […]
Ecopetrol Group Launches 2040 Strategy “Energy that Transforms”
(Ecopetrol, 9.Feb.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announces the launch of its 2040 strategy and its operational and financial targets for the 2022/24 term (22–24 Plan). The long-term strategy of the Ecopetrol Group (GE for its Spanish acronym), so-called “Energy that Transforms“, fully addresses current environmental, social, and governance challenges, […]
Petrobras on Labor Lawsuit Filed at the Federal Supreme Court (STF)
(Petrobras, 8.Feb.2022) — Petrobras informs that, on 14 February 2022, a majority of votes favorable to Petrobras was formed in the judgment of that discusses the methodology for calculating the “Remuneração MĂnima Por NĂvel e Regime” (RMNR) supplement at the First Panel of the Federal Supreme Court. As of this […]
Petrobras To Host 4Q:21 Results Calls
(Petrobras, 8.Feb.2022) — Petrobras will release its 4Q21 Production and Sales Report on 9 February 2022 and its 4Q:21 Financial Performance Report on 23 February 2022, both after the markets close. On 24 February 2022 two webcasts will be held, the first in Portuguese and the second in English, to […]
Fitch Confirms Petrobras’ Rating
(Petrobras, 8.Feb.2022) — Petrobras announced that the rating agency Fitch reaffirmed its rating at “BB-“, with negative outlook, following the Brazil’s rating. The standalone rating was also reaffirmed at “bbb”, four notches above the country. The agency considers Petrobras’ ratings to be linked to those of the sovereign given the […]
Canacol Energy Provides Sales, Drilling Operations, and Share Buyback Update
(Canacol, 8.Feb.2022) — Canacol Energy Ltd. (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) provided the following information concerning its January 2022 natural gas sales, the Toronja 2 development well, near term drilling plans, and the Corporation’s normal course issuer bid. Gas sales averaged 170 MMscfpd for January 2022 Realized contractual natural gas sales (which […]
Minister Young Meets with Outgoing Ambassador of Japan to Trinidad
(MEEI, 8.Feb.2022) — The Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young M.P, met with outgoing Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Trinidad and Tobago, His Excellency Tatsuo Hirayama and First Secretary, Mr. Nobuaki […]
Petrobras on FPSO for Parque das Baleias Integrated Project
(Petrobras, 7.Feb.2022) — Petrobras, following up on the release disclosed on 12 November 2021, informs it signed the contracts with the companies Yinson Bergenia Production B.V. and Yinson Bergenia Serviços de Operação LTDA, both from Yinson Production PTE Ltd. Group, for the chartering and provision of services of the Maria […]
Melbana Provides Positive Update from Alameda-1 Well Onshore Cuba
(Melbana Energy, 7.Feb.2022) — Melbana Energy Limited (ASX: MAY) (Melbana) provided this update on its drilling operations at its Alameda-1 exploration well in its Block 9 contract area onshore Cuba. Overnight drilling reached a depth of approximately 3,590mMD (3420mTVD), at which point a lithology change was detected, potentially signifying the […]
Ecopetrol Reports Reserve-Replacement Ratio of 200% in 2021
(Ecopetrol, 7.Feb.2022) — Ecopetrol S.A. (BVC: ECOPETROL,NYSE: EC) announced its consolidated proven oil, condensate, and natural gas reserves (1P reserves, according to the standard international denomination), which include the results of Ecopetrol and its subsidiaries, as of 31 December 2021. HIGHLIGHTS: Proven oil and gas reserves increased by 13%, up to 2,002 […]
A&V Oil Arbitration to be Laid in Parliament: Rowley
(Trinidad and Tobago Newsday, 6.Feb.2022) — The Prime Minister has instructed Energy Minister Stuart Young to lay the full details of the arbitration proceedings between with A&V Oil and Gas Drilling and Trinidad Petroleum Holdings Ltd (TPHL) in what was called the “fake oil” scandal He made the statement during […]
![Top NRG headlines from Argentina and Colombia to Venezuela [photos]](https://energy-analytics-institute.org/wp-content/uploads/2022/02/header-nrg-photo-recap-energy-analytics-institute.jpg)
Top NRG headlines from Argentina and Colombia to Venezuela [photos]
HOUSTON, TEXAS (Energy Analytics Institute, 5.Feb.2022) — Energy Analytics Institute‘s photo journalistic recap of 10 of our top headlines on Instagram in recent weeks. ____________________ By Ofelia Paredes. © Energy Analytics Institute (EAI). All Rights Reserved.
![Uruguay is at the Forefront in the Use of Renewable Energies [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/02/montevideo_grande.jpg)
Uruguay is at the Forefront in the Use of Renewable Energies [PDF Download]
(Uruguay XXI, 4.Feb.2022) — With an investment of more than eight billion pesos in the last decade, Uruguay is currently the second country in the world with the highest share of renewable energies. Our country is undergoing a strong and successful transformation in terms of energy policy, thanks to an […]
Petrobras Finalizes Divestment of Alagoas E&P Assets
(Petrobras, 4.Feb.2022) — Petrobras, following up on the releases disclosed on 30 June 2021 and 5 July /2021, concluded the sale of its entire stake in seven concessions denominated Alagoas Cluster, located in the state of Alagoas, to the company Origem Energia S.A. (former Petro+). The operation was concluded with […]
Petrobras Agrees to Draft SPA for UFN III
(Petrobras, 4.Feb.2022) — Petrobras, following up on the release disclosed on 21 February 2020, has reached an agreement for the draft of the Sale and Purchase Agreement for the sale of 100% of its Nitrogen Fertilizer Unit III (UFN-III), located in the city of TrĂŞs Lagoas, Mato Grosso do Sul, […]
Trinidad Petroleum Vows to Fix Debt after S&P Downgrade
(Trinidad and Tobago Newsday, 4.Feb.2022) — S&P Global Ratings has downgraded Trinidad Petroleum Holdings Ltd‘s (TPHL) rating from BB to B+ in its latest overview on Wednesday. The company attributed the downgrade to the delayed issuance of TPHL’s 2019 consolidated audited financial statements, and the tight maturity profile of upcoming […]
NRGBriefs: Maduro Says No Presidential Elections Until At Least 2025
(Energy Analytics Institute, 4.Feb.2022) — Energy briefs including Colombia signing a MOU w/ The Netherlands to create a hydrogen export channel; Venezuela’s President Nicolás Maduro saying there will be no presidential elections in 2024; and more. LATIN AMERICA AND THE CARIBBEAN Colombia — Colombia signed a MOU w/ The Netherlands […]
NRGBriefs: Argentina’s President Meets with Putin
(Energy Analytics Institute, 3.Feb.2022) — Energy briefs including Grupo EnergĂa Bogotá commencing assembly of the first tower of its north project in Chocontá (Cundinamarca); Argentina’s President Alberto Fernandez visiting Russia to discuss energy, industry, environmental and financing issues w/ his Russian counterpart Vladimir Putin; and EP PetroEcuador General Manager Äştalo […]
Petrobras Expresses Interest in Areas under Production Sharing Agreement
(Petrobras, 3.Feb.2022) — Petrobras expressed to the National Energy Policy Council (CNPE) the interest in the right of first refusal in blocks to be bid in the Permanent Offer System, under the Production Sharing Agreement, pursuant to Law 12,351/2010 and Federal Decree 9,041/2017. The company’s Executive Board approved the expression […]
Peru Facing Fuel Shortage after Suspending Repsol Operations, says PM
(Reuters, 3.Feb.2022) — New Peruvian Prime Minister Hector Valer said on Thursday the country was facing a fuel shortage due to a government decree that forbids Repsol SA (REP.MC) from unloading any new oil into a local refinery in the wake of a large oil spill last month. “We are starting the […]
Brazil Imports First Cargo of Guyanese Crude -Source
(Reuters, 3.Feb.2022) — An independent refiner has imported the first cargo of Guyanese crude oil into Brazil, according to tanker tracking data and a person familiar with the deal. Since oil exports began about two years ago, the tiny South American nation of fewer than 800,000 residents is becoming an […]
Turmoil as Peru Leader Sets 2nd Cabinet Overhaul This Week
(AP, 2.Feb.2022) — Turmoil in Peru’s government boiled even more Friday as President Pedro Castillo announced plans for a fourth Cabinet shakeup in six months, moving just three days after the third overhaul of his ministers that was quickly followed by revelations that his newest prime minister once faced domestic […]
Ecuador Eyes Key Oil Sector Actions in 2022
(Energy Analytics Institute, 2.Feb.2022) — The head of Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MENRNR), Juan Carlos Bermeo CalderĂłn, highlighted key goals the country looks to achieve in 2022. In 2022, the Andean country looks to renegotiate contracts for a voluntary migration to a participation scheme, develop the […]
Colombia Reports YE:21 Gas and Oil Production
(Energy Analytics Institute, 2.Feb.2022) — In December 2021, Colombia reported a 2.49% sequential rise in its natural gas production while its crude oil production fell 0.33%, according to Colombia’s National Hydrocarbon Agency (ANH). Colombia’s best opportunities to significantly boost both oil and gas production relate to exploratory wells planned offshore […]
NRGBriefs: Trinidad’s Gas and LNG Production Fell in Nov. 2021
(Energy Analytics Institute, 2.Feb.2022) — Energy briefs including Trinidad and Tobago’s Ministry of Energy and Energy Industries (MEEI) reporting gas, oil and LNG production figures for Jan.-Nov. 2021; and B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) announcing that the government of Mali recently granted B2Gold’s Malian subsidiary a […]
Guyana Produced 42.7 MMbbls in 2021 – Minister Singh
(DPI, 1.Feb.2022) — For the year 2021, Guyana produced 42.7 million barrels of light, sweet crude from the Liza One development in the prolific Stabroek Block. This was announced by Senior Minister in the Office of the President with responsibility for finance, Dr. Ashni Singh when he presented Budget 2022 […]
MENRNR Head Approves Strategic Plan 2021-25
(Energy Analytics Institute, 1.Feb.2022) — The head of Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MENRNR), Juan Carlos Bermeo CalderĂłn, approved the Strategic Plan for 2021-25. The plan is seen as fundamental to promote actions that ensure compliance with current public policies and institutional attributions, within a framework of […]
Petrobras on Receiving Last Installment of the Block BM-S-8 Sale
(Peterobras, 1.Feb.2022) — Petrobras, following up on the releases disclosed on 22 November 2016, 21 March 2018 and 9 December 2021, informs that it received from Equinor Brasil Energia Ltda. the amount of $475mn, equivalent to half of the third installment related to the sale of its stake in the […]
NRGBriefs: BCV Reports Income from FX Sales from PDVSA
(Energy Analytics Institute, 1.Feb.2022) — Energy briefs including Venezuela’s income from foreign currency sales to the Central Bank of Venezuela (BCV) obtained from PDVSA reaching $3.292bn in 2021; and ExxonMobil continuing to progress its low cost of supply deepwater developments in Guyana. LATIN AMERICA AND THE CARIBBEAN Guyana — ExxonMobil […]
Petrobras Inks Deal to Divest Potiguar Cluster
(Petrobras, 31.Jan.2022) — Petrobras, following up on the release disclosed on 28 January 2022, informs that it signed today with the company 3R Potiguar S.A., a wholly owned subsidiary of 3R Petroleum Ă“leo e Gás S.A., a contract for the sale of the totality of its stake (100%) in a […]
Iranian Oil Tanker to Discharge 2 mln Barrels in Venezuela
(Reuters, 31.Jan.2022) — An Iranian supertanker carrying about 2 million barrels of condensate this week began discharging at Venezuelan state-run oil company PDVSA‘s main oil port, according to a company document and tanker tracking services. PDVSA and state-run National Iranian Oil Company (NIOC) in the second half of last year started […]
Peru Bans Repsol from Unloading Oil until Further Notice after Spill
(Reuters, 31.Jan.2022) — Peru Environment Minister Ruben Ramirez said on Monday the government will temporarily suspend Repsol‘s (REP.MC) offshore oil unloading operations following a spill of over 10,000 barrels that has caused widespread environmental damage. Ramirez said the suspension of operations would last until the company “can offer technical guarantees that another […]
DeNovo Completes Zandolie Platform Fabrication
(MEEI, 31.Jan.2022) — DeNovo Energy Limited announced the completion of the local fabrication of the platform for its 2nd offshore field development, Zandolie. To mark the occasion, DeNovo hosted the Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young, M.P., […]
Frontera and CGX Find Oil at Kawa-1 Well Offshore Guyana
(Frontera, 31.Jan.2022) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), the majority shareholder of CGX and joint venture partner of CGX in the Petroleum Prospecting License for the Corentyne block offshore Guyana, announced that the Joint Venture has made a discovery at the Kawa-1 well, in the Corentyne Block. Gabriel de Alba, Chairman of Frontera’s Board of Directors and Co-Chairman […]
NRGBriefs: De Novo Prepares Zandolie’s Subsea Structure
(Energy Analytics Institute, 31.Jan.2022) — Energy briefs including EP PetroEcuador and Abastecedora Ecuatoriana de Combustibles S.A. (ABASTIBLES S.A.) signing a petroleum products contract; shares of Frontera Energy and CGX Energy halting on rumors of a find offshore Guyana at the Kawa well; and DeNovo’s Zandolie subsea structure being readied for […]