(Atlas, 4.Jan.2022) — Atlas Renewable Energy has been recognized as SEAL Awards’ Business Sustainability winner under the Environmental Initiative Award Category. Atlas was recognized for its environmental activity to preserve and protect the Howler Monkey species near its 444MW photovoltaic project La Pimienta, located in Mexico’s municipality of Carmen in the state of Campeche. The program […]
Category: Latin America and the Caribbean
Venezuela Doubles Crude Oil Exports Defying US Sanctions
(Bloomberg, 3.Jan.2022) — Oil exports from Venezuela doubled in December from a year earlier as the country raises production of revenue-generating hydrocarbons in defiance of U.S. sanctions. Shipments averaged 619,000 barrels a day in December. The OPEC-founding member increased exports for a third straight month with the support of ally […]
NRGBriefs: Buenos Aires Power Outages
(Energy Analytics Institute, 3.Jan.2022) — Energy briefs including power outages in Buenos Aires, Argentina; Brazilian fuel distributors supplying 1.3bn liters of biofuels in the 1Q:22; Venezuela’s opposition-led National Assembly deciding to back Juan Guaidó for another yr; and more. LATIN AMERICA AND THE CARIBBEAN Argentina — Residents in various sectors […]
![Brazil’s Oil Production Rose 2.7% in November [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/04/anp-brasil-oil.jpg)
Brazil’s Oil Production Rose 2.7% in November [PDF Download]
(Energy Analytics Institute, 3.Jan.2022) — Brazil’s national production of crude oil and natural gas totaled 3,711 million barrels of oil equivalent per day (MMboe/d) in November 2021, comprised of 2,852 million barrels per day (MMb/d) of oil and 137 million cubic meters (MMm3/d) of gas. Brazil’s oil production in November […]
Ecuador Oil Sector to See Busy Year
(S&P Global Platts, 3.Jan.2022) — Ecuador’s oil and gas industry is on track for a busy year of privatization and E&P contract overhauls in 2022 as President Guillermo Lasso seeks to open up the heavily indebted Andean country to foreign investment. Lasso’s new center-right government, which has set out to […]
Geophyxs’s Search for Gold Continues
(Jamaica Observer, 2.Jan.2022) — Mineral exploration company Geophysx Jamaica Limited following preliminary findings from a series of exploration activities done locally has moved to roll-out phase three of the project, through which it seeks to confirm commercial finds in gold, copper and rare earth minerals. “We have now completed the first […]
White & Case Advises Trinidad on Atlantic LNG Heads of Agreement Deal
(White & Case, 27.Jan.2022) — Global law firm White & Case LLP has advised the Government of the Republic of Trinidad and Tobago, acting through the Ministry of Energy and Energy Industries, on a Heads of Agreement (“HOA”) for the restructuring of Atlantic LNG, one of largest exporters of LNG […]
Trinidad’s Energy Minister Provides Annual Video Update
(Energy Analytics Institute, 31.Dec.2021) — Trinidad and Tobago’s Minister of Energy and Energy Industries Stuart Young commented in an annual video update from Port of Spain on key oil, gas and renewable achievements announced by the ministry in 2021. What follows are excerpts from his video briefing: — “We are […]
Record Gas Prices in Jamaica
(Jamaica Observer, 30.Dec.2021) — Pump prices touch a new record today after jumping by the most in two months. Petrojam on Wednesday hiked the price of a litre of both grades of gasoline by $3. That was the most those prices have gone up since October 28. The increase takes […]
NRGBriefs: Great Panther Files Defense to Infractions
(Energy Analytics Institute, 30.Dec.2021) — Energy briefs including Great Panther filing a defense to three infraction notices delivered to its Brazilian subsidiary, Mina Tucano Ltda.; and Enbridge Inc. closing a deal whereby an Enbridge subsidiary sold its 38.9% non-operating minority ownership interest in Noverco Inc. to Trencap L.P. LATIN AMERICA […]
Brazilian Elections Will Not Affect Petrobras Pricing, CEO Pledges
(Reuters, 30.Dec.2021) — Brazil’s 2022 general elections will not influence the fuel pricing policy of Petrobras, the chief executive of the state-run oil company told Reuters on Thursday. Petroleo Brasileiro SA, as the company is formally known, officially sets domestic fuel prices in line with international prices, although it allows […]
Petrobras Responds to Preliminary Injunctions on Gas Contracts
(Petrobras, 30.Dec.2021) — Petrobras was notified, on this date, of preliminary decisions rendered by the Court of Justice of the State of Rio de Janeiro that determined the maintenance of the conditions of the contracts entered into between Petrobras and state distributors (CEG and CEG RIO), which will expire on […]
Game Changing Local Content Bill Passed in Guyana
(DPI, 30.Dec.2021) — “We want to ensure that with this Bill, Guyanese reap the benefits from the oil and gas sector. This bill will help us to truly assess our capacity, as well as what is needed to build capacity in Guyana. As a government, we are committed to working […]
Banks Express Belief in Caribbean Renewable Energy Future
(Jamaica Observer, 29.Dec.2021) — Even with Jamaica not having any new request for proposal (RFP) since early 2016, more banks and other lenders have begun to embrace their role in de-carbonising the grid and facilitating the growth of renewable energy projects. This comes after CIBC FirstCaribbean International Bank (CIBC FCIB) […]
NRGBriefs: Ecuador Eyes Restarting OCP
(Energy Analytics Institute, 29.Dec.2021) — Energy briefs including Ecuador expecting to restart ops at OCP on 31 Dec. 2021; and Y&V Ingeniería y Construcción saying it hasn’t diminished its operational capacity. LATIN AMERICA AND THE CARIBBEAN Ecuador — Operations at the 450,000 b/d capacity Heavy Crude Pipeline (OCP) are expected […]
NGC Expands Energy Marketing and Trading Portfolio
(NGC, 29.Dec.2021) — The National Gas Company of Trinidad and Tobago Limited (NGC) continues to move forward with its green initiatives through expansion of its energy portfolio and is creating value for the Company and Trinidad and Tobago, marking a major development in its growth and investment strategy. On 21 […]
Venezuela’s 2021 Crude Output Shows No Growth from Last Year
(S&P Global Platts, 29.Dec.2021) — Venezuelan state-owned PDVSA and its foreign joint venture partners recorded average crude oil production of 560,000 b/d in 2021, according to an internal report reviewed by S&P Global Platts. The average year was slightly below 2020 when production averaged 570,000 b/d and the 2019 record […]
Orvana Files 2021 Annual Info
(Orvana, 29.Dec.2021) — Orvana Minerals Corp. (TSX: ORV) filed its annual info. For for the year ended 30 September 2021 (the “AIF”) and independent 43-101 report on the Don Mario Tailings Reprocessing Project, Eastern Bolivia. The company also provided a summary of its updated preliminary assessment report for Taguas Project, which will be […]
Touchstone Reveals Inaugural 2020 Sustainability Report
(Touchstone, 29.Dec.2021) — Touchstone Exploration Inc. presented its inaugural 2020 Sustainability Report, outlining our progress and initiatives on environmental, social and governance (ESG) practices. This report was approved by the company’s Board of Directors and provides all stakeholders insight into our environmental stewardship, community involvement and effective governance standards. Paul […]
ExxonMobil Reports ‘Safe’ Year for Guyana Operations
(CMC, 29.Dec.2022) — ExxonMobil Guyana says 2021 has been a safe year for the oil company, noting that there had been many days across offshore operations without major incident. “The crew on board the Liza Destiny FPSO, for instance, has reached more than 800 days without a recordable incident,” said […]
Mexico Plans to End Oil Exports in 2023 to Reach Self-Sufficiency
(Bloomberg, 28.Dec.2021) — Mexico plans to end crude oil exports in 2023 as part of a strategy by the nationalist government of Andres Manuel Lopez Obrador to reach self-sufficiency in the domestic fuels market. Petroleos Mexicanos, the Mexican state-owned producer known as Pemex, will reduce crude oil exports to 435,000 […]
Q&A: Excelerate Looks South for LNG Opportunities
(Argus, 28.Dec.2021) — Brazil’s unfolding market opening for natural gas could also create opportunities for LNG in the region as a complementary energy source, US energy firm Excelerate Energy believes. Vice president for South America Gabriela Aguilar talked to Argus about the new mindset for energy integration between Brazil and […]
Colombia Knocks Out Illegal Refineries Belonging to ELN
(Reuters, 28.Dec.2021) — Colombian security forces on Tuesday neutralized two clandestine refineries in the country’s northeast which belonged to the rebel National Liberation Army (ELN), the defense ministry said. The operation in Norte de Santander province, which sits on Colombia’s border with Venezuela, involved 900 members of the military and […]
Chile Eyes Green Hydrogen Projects After Financing Round
(Energy Analytics Institute, 28.Dec.2021) — The Chilean government announced six companies were selected in the country’s financing round related to its National Green Hydrogen Strategy. It’s estimated the awarded projects, with an electrolysis capacity of 388 megawatts, will attract investments of $1bn, Chile’s Energy Secretariat announced 28 Dec. 2021 in […]
Six Companies Selected to Export Argentine Gas to Chile
(Energy Analytics Institute, 28.Dec.2021) — Argentina’s Energy Secretariat authorized six companies — YPF, Total, PAE, Vista, Pampa and Tecpetrol — to carryout gas exports from the Neuquén basin to Chile between January to April 2022. “More exports means more production, more work, more activity and more foreign exchange income,” Argentina’s […]
NRGBriefs: Ecopetrol Sends First Carbon-Neutral Cargo to PetroChina
(Energy Analytics Institute, 28.Dec.2021) — Energy briefs including Colombia’s state-controlled Ecopetrol agreeing to ship 1 MMbbls of Castilla blend oil to PetroChina for delivery in Feb. 2022; Venezuela’s opposition lawmakers voting to for the continuity of the National Assembly and its leader Juan Guaidó; and more. LATIN AMERICA AND THE […]
Venezuela Says Oil Output Topped More Than 1 MMb/d
(Bloomberg, 27.Dec.2021) — Venezuela says it’s pumping the most oil since harsh U.S. sanctions strangled state-owned oil company Petroleos de Venezuela SA more than two years ago. Not everyone believes it. PDVSA, as the Caracas-based explorer is known, reported more than 1 million barrels of daily output in a Dec. 24 Twitter post. […]
How Venezuela Pulled its Oil Production Out of a Tailspin
(Reuters, 27.Dec.2021) — Venezuela this year almost doubled its oil production from last year’s decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos de Venezuela, known as PDVSA, won help from small […]
NRGBriefs: Ecuador’s Oil Production Around 91 Mb/d
(Energy Analytics Institute, 27.Dec.2021) — Energy briefs including Ecuador’s crude oil production reaching around 91,480 b/d this week; APA Corp. revealing ratification of a modernized PSC in Egypt; and more. LATIN AMERICA AND THE CARIBBEAN Ecuador — Ecuador’s oil production was just 91,480 b/d on 27 Dec. 2021, according to […]
NRGBriefs: Maduro Courts Arab Investments
(Energy Analytics Institute, 26.Dec.2021) — Energy briefs including Venezuela’s President Nicolas Maduro talking in a special interview w/ Arab media house Al Mayadeen broadcast on Venezuelan national TV; Venezuela’s GDP expected to rise 5% in 2022; Mammoet crews continue to assist w/ construction of Guajira I, in the municipality of […]
Shell: Commissioning Work for Poinsettia Begins in January
(Trinidad Guardian, 24.Dec.2021) — Shell Trinidad and Tobago Limited has announced that commissioning work on the Poinsettia Platform will begin in January. In a notice published by Shell and BG International, the company announced that on or around January 6, 2022, “the Skandi Contractor vessel will be supporting subsea system […]
NRGBriefs: Venezuelan Oil Production Touches 1 MMb/d
(Energy Analytics Institute, 24.Dec.2021) — Energy briefs including Venezuela supposedly reaching the 1 MMb/d oil production mark; and SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) commencing commissioning and ramping up activities at Çöpler’s sulfide plant flotation circuit in Peru. LATIN AMERICA AND THE CARIBBEAN Peru — SSR Mining Inc. […]
NRGBriefs: NGC Embarks on New Design-Build Project in Ghana
(Energy Analytics Institute, 23.Dec.2021) — Energy briefs including Ecuador’s Subsecretariat of Control and Nuclear Applications (SCAN), together w/ different national public entities, announcing the International Organization of Atomic Energy (IAEA) has approved new projects for Ecuador worth $2.8mn for the 2022-23 cycle; the National Gas Company of Trinidad and Tobago […]
Orvana Closes €15mn Syndicated Loan in Spain
(Orvana Minerals, 23.Dec.2021) — Orvana Minerals Corp. (TSX: ORV) closed a €15mn syndicated loan with two Spain-based banks, through its wholly-owned subsidiaries in Spain, Orvana Minerals Iberia S.L.U. and Orovalle Minerals S.L. Orvana will use the proceeds to fund the development of the Taguas Project in Argentina and structural capital expenditures in Spain. “The closing of […]
Colombia’s Energy Self-Sufficiency at Risk
(Rystad Energy, 23.Dec.2021) — Colombia, Latin America’s third-largest oil producer after Brazil and Mexico, is in danger of losing its energy self-sufficiency and a significant part of its gross domestic product (GDP) in the future, unless the pace of exploration accelerates, a Rystad Energy report has revealed. The country’s oil […]
Guyana Gov’t Working on Ensuring Prosperity
(DPI, 23.Dec.2021) — December 20, 2019, marked a new, historic era for Guyana and its people. It was the day when ExxonMobil began producing light sweet crude offshore Guyana in the world-renowned Stabroek Block. Since then, not only has Guyana benefitted from billions of dollars in revenue and investment from […]
Interruption In Gas Supply Behind TT Power Outages, TGU Says
(T&T Loop News, 23.Dec.2021) — Power outages experienced across the country on Wednesday were due to works by the National Gas Company (NGC). Intermittent outages were reported across parts of South, Central, North and East Trinidad. According to a statement from independent power producer Trinidad Generation Unlimited (TGU), a brief […]
KBR Awarded Study to Support Green Hydrogen Growth in Trinidad and Tobago
(KBR, 22.Dec.2021) — KBR (NYSE: KBR) has been awarded a study to help establish a green hydrogen market in Trinidad and Tobago as part of an ongoing technical cooperation financed by the Inter-American Development Bank (IDB). Under the terms of the contract, KBR will analyze strategies for maximizing opportunities to […]
NRGBriefs: CFIUS Approves Pemex’s Deer Park Refinery Purchase
(Energy Analytics Institute, 22.Dec.2021) — Energy briefs including Chile being chosen for the 2nd consecutive yr as the most attractive emerging mkt to invest in renewable energies in the LatAm region; AkerSolutions crossing the 36% mark in terms women among all hired personnel in Brazil; the Committee on Foreign Investment […]
West Indies Petroleum Wins in Lime Tree Refinery Auction
(Jamaica Observer, 22.Dec.2021) — News portal, the Virgin Islands Consortium, reports that Jamaica-based West Indies Petroleum (WIP) won an auction for the Lime Tree Bay Refinery with its bid of US$62 million on Saturday, December 18, 2021. Lime Tree Bay Refinery is located on the south shore of St Croix in […]
IMF Approves Extended Arrangement for Suriname
(IMF, 22.Dec.2021) — The Executive Board of the International Monetary Fund (IMF) approved a 36-month arrangement under the Extended Fund Facility (EFF) for Suriname in an amount equivalent to SDR472.8mn (about $688mn or 366.8% of quota). The Board’s decision enables an immediate disbursement equivalent to SDR39.4mn (about $55.1mn). The IMF […]
Petrobras On LPG Focused Social Program
(Petrobras, 22.Dec.2021) — Petrobras, following up on the releases disclosed on 29 September and 8 December 2021, informs that its Board of Directors approved the allocation of R$270mn that will be used throughout 2022 in the social program of access to cooking gas cylinders (liquefied petroleum gas – LPG) for […]
Petrobras Concludes Sale of Bahia Onshore Fields
(Petrobras, 22.Dec.2021) — Petrobras, following up on the release disclosed on 23 Dec. 2020, informs that it concluded today the sale of its total stake in 12 onshore exploration and production fields, called Remanso Cluster, located in the state of Bahia, to PetroRecôncavo S.A.. After compliance with the preceding conditions, […]
Petrobras Completes Renewal of its Shelf Registration
(Petrobras, 22.Dec.2021) — Petrobras completed the renewal of its shelf registration with the US Securities and Exchange Commission (SEC). The shelf registration allows Petrobras to offer securities in the US capital markets in an agile and comprehensive manner, taking advantage of market opportunities, with the objective of reducing costs and […]
Petrobras Submits Development Plan for Tupi and Iracema
(Petrobras, 22.Dec.2021) — Petrobras, as the operator of the Tupi Field, submitted to the National Petroleum, Natural Gas and Biofuel Agency (ANP), the review of the Integrated Development Plan (PD) of the Shared Deposit of Tupi and the Iracema Area. In this revision, the Tupi Consortium proposes new investments to […]
Touchstone’s Credit Facility Raised To $30mn
(Touchstone, 22.Dec.2021) — Touchstone Exploration Inc. (TSX, LSE: TXP) entered into an amended and restated loan agreement with its Trinidad based lender providing for a $10mn increase in the principal balance to $30mn. Touchstone currently has $15mn of the loan principal balance drawn and anticipates withdrawing the remaining $15mn available […]
Petrobras on Contracts with TAG
(Petrobras, 22.Dec.2021) — Petrobras informs that, as part of the actions taken to open the Brazilian natural gas market, signed, today, with Transportadora Associada de Gás S.A. (TAG) the Flexibility Reduction Agreement to be used by Petrobras (Agreement) and amendments to the Malha Nordeste, Gasene and Pilar-Ipojuca Natural Gas Transportation […]
Touchstone Reveals 3rd Test Results at Royston-1 in Trinidad
(Touchstone, 21.Dec.2021) — Touchstone Exploration Inc. (TSX, LSE: TXP) announced results of the final production test at our Royston-1 exploration well which has confirmed a light oil discovery in the upper most section of the Herrera Formation. Touchstone has an 80 percent operating working interest in the well, which is […]
Rhyolite Resources Closes C$18mn Private Placement
(Rhyolite Resources, 21.Dec.2021) — Rhyolite Resources Ltd. (TSXV: RYE) completed a “bought deal” brokered private placement of 16,000,000 common shares of the company at a price of C$0.88 per Common Share (the “Offering Price”) for gross proceeds of approximately C$14mn (the “Bought Deal Private Placement”). BMO Capital Markets acted as the sole underwriter […]
Argentina President Set to Decree $1.6bn Vaca Muerta Gas Pipeline
(Reuters, 21.Dec.2021) — Argentina’s President Alberto Fernandez will sign a decree in the next few weeks to push forward construction of a major new gas pipeline system in the country’s huge Vaca Muerta shale formation, a government source told Reuters, a key move to boost gas exports. The timeline and […]