Latin America and the Caribbean Archives - Page 97 of 220

Petrobras Comments on Divestment of Paraná Basin Assets

(Petrobras, 20.Dec.2021) — Petrobras, following up on the release disclosed on 08/03/2021, informs that it signed with Ubuntu Engenharia e Serviços Ltda a contract for the sale of its total stake in the concession PAR-T-198_R12, located onshore, in the Paraná Basin. The total value of the transaction is $31 thousand […]

Frontera to Acquire Colombian Producer PetroSud

(Frontera, 20.Dec.2021) — Frontera Energy Corporation (TSX: FEC) entered into an agreement to acquire 100% of the issued and outstanding shares in Petroleos Sud Americanos S.A. (PetroSud) with operations in Colombia in El Dificil (a 65% working interest), Entrerrios and Rio Meta Blocks. Assets to be acquired in the PetroSud and VIM-46 […]

NGC Reports Results for Period Ended 30 Sep. 2021 [PDF Downloads]

(NGC, 19.Dec.2021) — The NGC Group recorded an unaudited after-tax profit of TT$1.045B for the nine-month period ended 30 September 2021. This represents an extraordinary improvement of 2,588% over the loss of $42M for the prior period. Revenue of the period was TT$15.6B as compared with TT$8.1B, an increase of […]

NGC Reports $1bn Profit [PDF Download]

(NGC, 19.Dec.2021) — The National Gas Company of Trinidad and Tobago Limited (NGC) released its unaudited consolidated financial statements for the nine-month period ended 30 September 2021. The results, according to The NGC Group Chairman Conrad Enill, signal a strong recovery relative to 2020, as The NGC Group recorded an unaudited […]

Guyana Proposes Establishment of Local Content Register in Historic Bill

(DPI, 18.Dec.2021) — As part of the Local Content Bill, the government is proposing the establishment of a Local Content Register said to be developed and maintained by the Local Content Secretariat. The Bill which was tabled in the National Assembly on Thursday by Minister of Natural Resources, Vickram Bharrat, […]

TotalEnergies and Shell Stand Out in Brazilian Oil Auction

(Bloomberg, 17.Dec.2021) — European supermajors TotalEnergies SE and Royal Dutch Shell Plc will join Brazil’s state-controlled oil giant at two key fields, marking the latest expansion in Latin America’s largest crude producer and an important victory for President Jair Bolsonaro. TotalEnergies won stakes in both of the deepwater fields on offer Friday, […]

ANP Reveals Result of 2nd Bid Round for TOR Surplus

(Petrobras, 17.Dec.2021) — Petrobras acquired the exploration and production rights of the volumes exceeding those of the Transfer of Rights in the Atapu and Sepia offshore fields in the 2nd Bidding Round for the Transfer of Rights surplus under the Production Sharing Regime, held today, by the National Agency of […]

NRGBriefs: Ecopetrol Fined for Caño Cacayal Contamination

(Energy Analytics Institute, 17.Dec.2021) — Energy briefs including Ecopetrol S.A. revealing the Sustainable Development Corporation of the Macarena Special Management Area CORMACARENA, through Resolution No. PS-GJ.1.2.6.21.2094 of 2021, imposed a fine of 20 monthly minimum wages to the co. due to the contamination of Caño Cacayal; Venezuela’s oil production set to […]

POC Retains Interest in Block 5 Offshore Suriname

(Staatsolie, 17.Dec.2021) — Paradise Oil Company (POC), a wholly owned subsidiary of Staatsolie Maatschappij Suriname N.V., retains its non-operated participating interest of 40%. The details of the deal, signed on 17 December 2021, are not disclosed. Staatsolie welcomes the participation of a renowned party such as Shell in Block 5. […]

Guyana Shies Away from Overly Rigid Local Content Terms in Oil Bill

(Reuters, 16.Dec.2021) — Guyana’s government on Thursday delivered to the National Assembly the draft of a local content bill that will regulate its nascent oil industry, proposing requirements beginning at 5% by the end of 2022 for activities to be carried out by contractors and licensees. The proposed policy, seen […]

Petrobras Inks $5bn Revolving Credit Line Deal

(Petrobras, 16.Dec.2021) — Petrobras signed, today, a revolving credit facility (RCF) in the amount of $5bn, maturing in December 2026, with the possibility of being extended in up to two years. The agreement, signed with 16 banks, allows the company to draw on the line until the month before maturity, […]

No Counter-offers in ANH, 30 Contracts to be Signed

(Reuters, 16.Dec.2021) — There were no counter-offers for oil and gas blocs in Colombia’s latest licensing round, but contracts for 30 blocs which received bids will be signed in the coming days, the government said on Thursday. The oil and gas industry is a major source of income and foreign […]

Petroperu to Restart 200,000 b/d Oil Pipeline: Official

(Argus, 16.Dec.2021) — State oil company Petroperu has reached an agreement with protesters to end a two-and-a-half month takeover of its 200,000 b/d North Peruvian oil pipeline (ONP), a senior government official and the firm’s main crude supplier said Dec. 16. Villagers demanding greater social spending in the northern Amazon […]

LatAm Oil Auctions Kick Off After Two-year Lull

(Reuters, 16.Dec.2021) – Latin America’s oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday […]

CGX And Frontera Update On Kawa-1 Exploration Well

(CGX, 16.Dec.2021) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), the majority shareholder of and joint venture partner of CGX in the Petroleum Prospecting Licenses for the Corentyne and Demerara blocks offshore Guyana, today provide an operational update on the Kawa-1 exploration well in the Corentyne […]

Petrobras BODs Approves Sale Of Braskem Stake

(Petrobras, 16.Dec.2021) — Petrobras’ Board of Directors approved the model for the sale of up to 100% of the preferred shares it holds in Braskem S.A. to be conducted through secondary public offering(s) of shares (follow-on), together with Novonor S.A. – In Judicial Recovery and NSP Investimentos S.A. – In […]

NRGBriefs: Ecuador Prevents Environmental Damage In Napo Region

(Energy Analytics Institute, 15.Dec.2021) — Energy briefs including Ecuador’s gov’t saying the halting of transport operations along the SOTE due to soil erosion problems prevented environmental damage in the Piedra Fina River area; the International Energy Agency (IEA) placing Chile among the four countries that will lead the production of […]

Petrobras Carries Out Payment To Shareholders

(Petrobras, 15.Dec.2021) — Petrobras, following up on the releases disclosed on 4 August 2021, 28 September 2021, and 19 November 2021, informs that it is carrying out today the payment of the 2nd installment of the anticipated shareholder remuneration for 2021. The gross amount distributed corresponds to the gross value of […]

NRGBriefs: Venezuela’s Oil Minister El Aissami Says He’s Fine

(Energy Analytics Institute, 14.Dec.2021) — Energy briefs including EP PetroEcuador announcing it has sufficient fuel supplies at all its terminals despite transport issues impacting Ecuador’s two oil pipelines and one derivatives pipeline; ExxonMobil reiterating the Liza Unity FPSO will commence ops by 2022 offshore Guyana; Venezuela’s oil minister Tareck El […]

Canadian Solar Completes Sale Of Photovoltaic Project To VTRM

(Canadian Solar, 14.Dec.2021) — Canadian Solar Inc. (NASDAQ: CSIQ) announced the sale of Canadian Solar’s 635 MWp Jaíba V solar project to VTRM. The Jaíba V Project, located in the Northeastern state of Minas Gerais, is in advanced stage of development and is expected to begin construction in 2022, and reach […]

Ryder Scott 2020 Audit Reveals Decline In Trinidad and Tobago Gas Reserves

(Trinidad and Tobago Newsday, 14.Dec.2021) — Despite volume increases in multiple fields, the 2020 Ryder Scott audit revealed on Tuesday that there was a decline in recoverable gas in TT. The report, explained by Ryder Scott vice president Herman Acuna, revealed that 56 per cent of volume replacement in proven […]

Petrobras On Mero Production Individualization Agreement

(Petrobras, 13.Dec.2021) — Petrobras announces that the National Agency of Petroleum, Natural Gas and Biofuels (ANP) approved, at the Collegiate Board Meeting No. 1074 held on 9 December 2021, the Production Individualization Agreement (AIP) of the Mero accumulation, located in the Santos Basin. The Mero joint reservoir comprises: – Mero […]

Petrobras Reports Stoppage At Manati Gas Field

(Petrobras, 13.Dec.2021) — Petrobras said that on 10 December 2021 the production of gas from the Manati field, located in the Camamu Basin, in the state of Bahia, was halted due to the closure of the subsea valve of the export pipeline. The pipeline’s operation was safely interrupted and teams […]

Ecuador Declares Force Majeure On All Oil Contracts

(Bloomberg, 13.Dec.2021) — Ecuador declared force majeure on all oil contracts, including exports and imports, as the threat of soil erosion forced the shutdown of the country’s two pipelines that transport crude across the Andes. The clause, which is invoked to remove liability from failing to honor contracts in the […]

YPF Studying LNG Export For Growing Vaca Muerta Gas Production

(Platts, 13.Dec.2021) — YPF, the biggest oil and natural gas producer in Argentina, is doing preliminary studies to prepare for building LNG export capacity as gas production grows in the giant Vaca Muerta shale play and projects get underway to increase pipeline capacity, CFO Alejandro Lew said Dec. 10. “We […]

Challenger Reports On B/S Restructuring, License Renewals

(Challenger Energy, 13.Dec.2021) — Challenger Energy Group Plc (AIM: CEG), the Caribbean and Atlantic margin focused oil and gas company, with production, development, appraisal and exploration assets across the region, provides the following update on its balance sheet restructuring, licence renewal process, and general operational matters. Balance Sheet Restructuring The […]

NRGBriefs: Ecuador Declares Force Majeure On Oil Exports

(Energy Analytics Institute, 13.Dec.2021) — Energy briefs including Ecuador’s gov’t declaring force majeure on 12 Dec. 2021 on oil exports due to erosion issues around the Piedra Fina River and other tributaries of the Quijos River; Argentina celebrating Petroleum Day; TechnipFMC being awarded three frame agreements by Petrobras; and more. […]

Argus Launches Report As Brazil Liberalizes Gas Market

(Argus, 10.Dec.2021) — Brazil is opening its gas market to competition, taking steps to reduce the dominance of state-controlled Petrobras and provide opportunities to new entrants, both domestic and international. The freer market will mean that prices are driven by supply and demand. To provide price transparency for this rapidly changing […]

Staatsolie Takes Steps to Set Up Oil & Gas Stream NATIN

(Staatsolie, 10.Dec.2021) — The Natuur Technisch Instituut (Nature Technical Institute, NATIN) will get an oil and gas stream. Staatsolie Maatschappij Suriname N.V. is working together with NATIN, the Ministry of Education, Science and Culture (MINOWC) and the Dutch Regional Education Center (Regionaal Onderwijs Centrum) Kop van Noord-Holland (ROC KvNH) to […]

No Change Afoot At Venezuela’s Oil Ministry: Sources

(Argus, 10.Dec.2021) — Venezuela’s oil minister Tareck El Aissami returned to work this week after a prolonged medical leave and will not be replaced, a senior source close to the government told Argus. A second source confirmed the information. The minister attended meetings in person in Caracas this week and will […]

WEB Aruba And Eagle LNG Ink Clean LNG Supply Deal

(Eagle LNG, 9.Dec.2021) — Eagle LNG Partners LLC, a US company based in Houston, Texas and Jacksonville, Florida, has completed a long-term supply contract to establish a liquefied natural gas (LNG) receiving and regasification terminal in Aruba with WEB Aruba, the local power and water utility. The project confirms Aruba’s growing importance as a regional hub and […]

Ecopetrol To Invest $4.8-$5.8bn In 2022

(Ecopetrol, 9.Dec.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that its Board of Directors approved the 2022 organic investment plan for the GE, for an estimated amount between $4.8bn to $5.8bn. Highlights: The Investment Plan of the Ecopetrol Group (GE for its Spanish acronym) for 2022, approved by the Board of Directors, is oriented towards […]

Petrobras On Relavant Goldman’s Shareholding Position

(Petrobras, 9.Dec.2021) — Petrobras, in compliance with Article 12 of CVM Resolution No. 44, of 08/23/2021, informs that it was communicated by Goldman Sachs & Co. LLC, a subsidiary of The Goldman Sachs Group, Inc., by Goldman Sachs International, and other subsidiaries of The Goldman Sachs Group, Inc., namely Goldman […]

Trinidad Minister Meets With BHP Executives

(MEEI, 9.Dec.2021) — Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young M.P., met with Senior BHP Executives Michael Stone, Country Manager to BHP Trinidad and Tobago, Graham Salmond, General Manager BHP Petroleum North America and the Caribbean, Selby […]

Excelerate Energy Initiates Ops At Bahia LNG Terminal

(Excelerate, 9.Dec.2021) — Excelerate Energy L.P. announced that on 8 December 2021 it started natural gas deliveries to the Brazilian market at the Bahia Regasification Terminal (TR-BA) in Salvador, Bahia. Excelerate’s floating storage and regasification unit (FSRU) Excelerate Sequoia, which has an LNG storage capacity of 173,400 cubic meters, is providing […]

CCUS and Upstream Production in Brazil

(IHS Markit, 9.Dec.2021) — The following provides a brief overview of selected reports in the Upstream Costs and Technology, Latin America Costs and Technology Supply Chain Service from November 2021. Petrobras has one of the three largest (if not the largest) carbon capture, utilization, and storage (CCUS) projects in operation […]

Brazil is in Water Crisis

(Nature, 8.Dec.2021) — Brazil has the largest amount of fresh water in the world. Two-thirds of what flows in the Amazon River alone could supply the world’s demand. Yet much of the nation now faces drought. It’s the worst in many decades in a nation that grows more than one-third […]

YPF eyes unlocking Vaca Muerta’s potential: CEO Sergio Affronti at WPC Houston

HOUSTON, TEXAS (Energy Analytics Institute, 8.Dec.2021) — YPF’s CEO Sergio Affronti said the state oil producer was looking at “unlocking the Vaca Muerta’s full shale gas potential,” during the 23rd World Petroleum Congress (WPC) in Houston. What follows are highlights from his speech on 8 December 2021 at the WPC […]

NRGBriefs: Orea Prepping for Maripa Gold Project

(Energy Analytics Institute, 8.Dec.2021) — Energy briefs including Fitch Ratings affirming Frontera‘s IDR at ‘B’; Orea Mining Corp. commencing preparation for a diamond drilling program at the Maripa Gold Project, located in eastern French Guiana; — Frontera spud the Jandaya-1 exploration well on the Perico block in Ecuador; and more. LATIN […]

Trinidad’s Energy Minister Young Participates In WPC Round Table

(MEEI, 8.Dec.2021) — On Wednesday 8 December 2021, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister the Honourable Stuart Young MP participated in a Ministerial Round Table focused on Regional Development and Opportunities in Latin America as part of the 23rd World Petroleum […]

NRGBriefs: Trinidad To Reveal Ryder Scott Details

(Energy Analytics Institute, 8.Dec.2021) — Energy briefs including Argentina aspiring to produce 1 MMb/d in five yrs; Trinidad and Tobago looking to reveal details of a new Ryder Scott gas reserve report; rumors circulating about the health of Venezuela’s oil minister Tareck El Aissami; and more. LATIN AMERICA AND THE […]

Trinidad To Offer Onshore, Shallow-water Blocks In 2022

(Reuters, 8.Dec.2021) — Trinidad and Tobago next year plans to launch bidding rounds for onshore and shallow-water areas on top of last week’s launch of an auction of 17 deepwater oil and gas blocks, the nation’s energy minister told Reuters. The Caribbean country, which is among the region’s top producers […]

Colombia Testing Waters for Carbon-Neutral Crude

(Bloomberg, 7.Dec.2021) — Colombia, a producer of sludgy, dirty oil, is seeking to sell crude that’s carbon neutral as it tests the market’s appetite for ESG oil. State-controlled oil driller Ecopetrol SA is offering as much as 1 million barrels of oil, according to an internal document seen by Bloomberg. […]

Solaris Announces Proposed Spin-Out Of Non-Core Assets

(Solaris, 6.Dec.2021) — Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) announces its intention to transfer its non-core assets held in Ecuador, Peru, Chile and Mexico into a newly incorporated wholly-owned subsidiary of Solaris named Solaris Exploration Inc. pursuant to an internal re-organization. Following the Re-Organization, it is expected that 100% of the common shares of Solaris Exploration […]

Trinidad’s MEEI Promotes Deep Water Round At WPC [PDF Download]

(MEEI, 6.Dec.2021) — The Honourable Stuart R. Young M.P, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, along with a team of MEEI energy professionals is representing Trinidad and Tobago’s Energy Sector at the 23rd World Petroleum Congress and Exhibition in Houston, Texas. […]

Trinidad’s MEEI Launches Deepwater Bid Round [PDF Download]

(MEEI, 3.Dec.2021) — I am pleased to announce the launch of the 2021 Trinidad and Tobago Deep Water Competitive Bid Round. The Opening of the Bid Round was marked by the publishing in the Gazette of the Petroleum Regulations (Deep Water Competitive Bidding) Order, 2021, today 3 December 2021. The […]

ANH’s Ronda Colombia 2021 [Photo Roundup]

(ANH, 1.Dec.2021) — The ANH reports success in the Colombia Round 2021: 30 bids for areas were received in order to continue the reactivation of the hydrocarbon sector. The top photos from the event follow.

ANH Awards 30 Areas In Colombia Round 2021 [PDF Download]

(ANH, 1.Dec.2021) — During the Deposit of Proposals Hearing for the fourth cycle of the Permanent Process of Area Assignment (PPAA) Colombia Round 2021, 7 companies submitted bids for 30 blocks, thus consolidating the reactivation of the hydrocarbons sector that the Ministry of Mines and Energy and the National Hydrocarbons […]

ExxonMobil Reveals Plans To 2027

(Exxon, 1.Dec.2021) — ExxonMobil has finalized corporate plans, which increase spending to $15bn on greenhouse gas emission-reduction projects over the next six years while maintaining disciplined capital investments in its industry-leading portfolio. The plans support the corporate strategy of continued structural cost savings, investment in low-cost-of-supply and lower-emission products, and […]

MEEI Head Meets With Trinidad Exploration [PDF Download]

(MEEI, 1.Dec.2021) — In his continuing efforts to meet and engage key energy sector stakeholders, The Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young, M.P. along with Permanent Secretary (A.g) Penelope Bradshaw-Niles met with Non- Executive Chairman Nicolas […]