Ecuador’s Interior Minister to Meet US Officials to Discuss Initiatives
Source: MNRNR
Apco Shareholder’s Approve Pluspetrol Merger
(Apco Oil and Gas International Inc., 26.Jan.2015) – Apco Oil and Gas International Inc. announced that its shareholders, at an extraordinary general meeting held on January 26, 2015, approved the...
BPZ Reports New Output from Albacora Well
(BPZ Resources, Inc., 22.Jan.2015) – BPZ Energy provided initial production rates from the Albacora A-27D development well at offshore Block Z-1. The company holds a 51% participation in Block Z-1...
Caribbean Rex Finds Oil In Trinidad
(Rex International Holding Ltd., 21.Jan.2015) – Rex International Holding Limited (Rex International Holding or the Company, and together with its subsidiaries, the Group), one of the largest companies listed on...
Mood’s Downgrades Construtora Andrade Gutierrez
(Global Credit Research, 21.Jan.2015) – Approximately $500 million of rated debt affected. Moody's Investors Service (Moody's) downgraded to Ba2 from Ba1 the corporate family rating assigned to Construtora Andrade Gutierrez...
Gran Tierra Completes Drilling in Peru
(Gran Tierra Energy Inc., 20.Jan.2015) – The Bretaña Sur appraisal well completed drilling operations on the L4 lobe on the Bretaña field and encountered approximately six feet of oil pay...
Gran Tierra Comments on South America Output
(Gran Tierra Energy Inc., 20.Jan.2015) – Gran Tierra Energy Inc. said crude oil and natural gas production from continuing operations averaged approximately 25,200 barrels of oil equivalent per day (BOEPD)...
Gran Tierra Updates on Chaza Block Activities
(Gran Tierra Energy Inc., 20.Jan.2015 – Gran Tierra Energy Inc. provides an operations update on its activities in the Chaza Block in the Putumayo Basin in Colombia. The Eslabón Sur...
Gran Tierra to Drill Putumayo-1 Block Well
(Gran Tierra Energy Inc., 20.Jan.2015 – Gran Tierra Energy Inc. provided an operations update on its activities in Colombia. Work continues at the Vonu-1 exploration well location, which will target...
Harvest Files Arbitration Request Against Venezuela
(Harvest Natural Resources, 16.Jan.2015) – Harvest Natural Resources, Inc. announced that its affiliates, HNR Finance B.V. (Harvest BV) and Harvest Vinccler S.C.A. (HVSCA), submitted a Request for Arbitration against the...
McDermott to Install Pemex’s Ayatsil Platform
(McDermott International, Inc., 6.Jan.2015) – McDermott International, Inc. has been awarded a contract to install the offshore jacket, deck and piles for the Ayatsil-A drilling platform for PEMEX Exploracion y...
Apco Obtains Concession Extension in Argentina
(Apco Oil and Gas International Inc., 6.Jan.2015) – Apco Oil and Gas International Inc. announced that the Argentine province of Rio Negro has agreed to extend the concession term for...
Harvest Terminates Venezuelan Deal
(Harvest Natural Resources, 2.Jan.2015) – Harvest Natural Resources, Inc. announced that the Share Purchase Agreement (SPA) between Petroandina Resources Corporation N.V. (Petroandina), Pluspetrol Resources Corporation B.V. (Pluspetrol), Harvest and HNR...
Sierra Oil & Gas Announces Commitment of $525 million
(Sierra, 18.Sep.2014) — Sierra Oil & Gas S. de R.L. de C.V., Mexico's first independent exploration and production company, today announces that it has secured equity commitments of US$525 million....
Venezuela Sees US shale Boom As Bonus
(Reuters, Dmitry Zhdannikov, 16.Jun.2014) — Venezuela wants to increase oil supplies to the United States to regain some of the market share it lost over the past decade as Caracas...
Chevron, YPF Continue Vaca Muerta Development
(Chevron 10.Apr.2014) — Chevron Corporation confirmed that subsidiaries of the company have signed agreements with the Argentine oil company YPF S.A. to continue development of shale oil and gas resources...
Ecuador, China Advance Refinery Plans
(OGJ, 24.Jan.2014) — China National Petroleum Corp. (CNPC) and the Ecuadorean government have reached an agreement regarding cooperation in a plan to construct a long-delayed refinery on Ecuador’s Pacific Coast....
Non-Conventional Extraction Process Explained [Video]
(Energy Analytics Institute, Ian Silverman, 16.Jan.2014) – Argentina’s Vaca Muerta formation in the Neuquén Basin is best known for its shale oil and gas. The process related to the extraction...
Fact Sheet: Harvest Natural Resources And PetroDelta
(Harvest Natural Resources, 1.Jan.2014) — Venezuela is the largest province of proved oil reserves in the Western Hemisphere, with 297.6 billion barrels of proved oil reserves at year-end 2011 (the...
Perenco to Buy Petrobras Assets in Colombia
(Energy Analytics Institute, Ian Silverman, 29.Oct.2013) – Petrobras plans to sell its interest in onshore blocks and two pipelines to France's Perenco for $380 million to focus more attention on...
PDVSA Incorporates New Tankers into Fleet
(Energy Analytics Institute, Ian Silverman, 25.Oct.2013) – PDVSA President Rafael Ramirez speaks to reporters in Puerto la Cruz, Venezuela about introduction of news tankers into fleet. Highlights of the discussion...
Ramirez Moving Forward with Energy Policy
(Energy Analytics Institute, Ian Silverman, 10.Oct.2013) – Venezuelan President Nicolas Maduro seems to be allowing Oil Minister Rafael Ramirez to take charge of moving forward with the country's energy policy,...
1St Venezuela-India Round-table in Caracas
(Energy Analytics Institute, Ian Silverman, 7.Oct.2013) – The 1st Business Round-table meetings between Venezuelan and Indian companies took place in Caracas from October 7-9, 2013. Highlights from the round-table follow:...
Rafael Ramirez Speech in Caracas
(Energy Analytics Institute, Piero Stewart, 7.Oct.2013) – PDVSA President Rafael Ramirez spoke with journalist in Puerto La Cruz, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez regarding shipments...
Rafael Ramirez Speech in Puerto La Cruz
(Energy Analytics Institute, Piero Stewart, 4.Oct.2013) – Venezuela's Oil Minister President Rafael Ramirez spoke with journalist in Puerto La Cruz, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez...
LatAmNRG: Heard On The Street 3Q:13
(Energy Analytics Institute, 30.Sep.2013) – Information in this section, provided by Energy Analytics Institute editors and reporters, is hearsay and thus should be treated as such. The names of our...
Venezuela Reactivates Fuel Exports to Colombia
(Energy Analytics Institute, Ian Silverman, 24.Sep.2013) – The Venezuelan government plans to reactivate a plan to supply Colombia with combustibles, according to Energy and Mining Minister Rafael Ramirez. The Venezuelan...
Q&A with Arthur Little’s Rodolfo Guzman
(Energy Analytics Institute, Pietro D. Pitts, 24.Sep.2013) – Arthur D. Little Partner Rodolfo Guzman spoke with Energy Analytics Institute in a brief interview from Houston, Texas. What follows are excerpts...
Q&A with Tudor Pickering’s David Pursell
(Energy Analytics Institute, Pietro D. Pitts, 18.Sep.2013) – Tudor Pickering Holt & Co. LLC Managing Director David Pursell spoke with Energy Analytics Institute in a brief interview from Dallas, Texas....
Honduras Awaits Initial PetroCaribe Shipments
(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – Honduras does not expect to receive its first shipment of oil from Venezuela under PetroCaribe until Dec.2013, reported El Universal, citing Honduras' Vice...
Pacific Rubiales Sets Capex at $1 Bln
(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – Pacific Rubiales plans capital expenditure outlays of $1 billion on infrastructure projects such as ports, pipelines and a ferry, reported the daily newspaper...
Argentina Says Oil Output Insufficient
(Energy Analytics Institute, Jared Yamin, 13.Sep.2013) – The Argentine government announced production of oil is insufficient to supply the country's refineries. "We are lacking light oil to process," reported La...
Uruguay Supporting Execution of 27 Projects
(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – The Uruguayan government is supporting execution of 27 electric projects in rural zones that will span 800 km. The cost of the projects...
Empresa Energia Bogota to Spend $900 Mln
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – Empresa Energia de Bogota (EEB) plans CAPEX outlays of $900 million in 2013 and the $3.4 billion during 2014-2017, El Espectador said, citing...
Modernization of Barrancabermeja Refinery Continues
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – Modernization activities advance at the 230,000 barrel per day Barrancabermeja Refinery, reported the daily newspaper Portafolio.co. ***
Nicaragua Oil Derivative Purchases Down
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – Nicaragua's purchases of oil and oil derivatives during the first four months of 2013 were $367.9 million compared with $424.1 million in the...
Pacific Rubiales Star to Double Recovery Rates
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – The Star project will allow Pacific Rubiales to double recovery rates at the Quifa field, El Espectador reported, citing Pacific Executive Director Ronald...
Bulo Bulo to Generate 3,000 Jobs
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – The urea plant in Bulo Bulo, Cochabamba will generate 3,000 jobs, reported the daily newspaper La Razon, citing Vice Minister of Industrialization, Commercialization,...
Guatemala Announces Initial Gas Discovery
(Energy Analytics Institute, Ian Silverman, 12.Sep.2013) – Guatemala announced its initial gas discovery at the Ocultun well in the Peten region. The well was drilled to nearly 3 km, reported...
GTLI to Return Areas to YPFB
(Energy Analytics Institute, Ian Silverman, 11.Sep.2013) – Gas To Liquid International (GTLI) is in the process of returning four exploration areas to Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). There are 104...
Combustible Prices to Increase in Uruguay
(Energy Analytics Institute, Ian Silverman, 11.Sep.2013) – Uruguay's ANCAP will increase the price of combustibles by an average 9.7%, reported the daily newspaper La Red 21. ***
Petronas Exits Carabobo Project in Venezuela
(Energy Analytics Institute, Ian Silverman, 11.Sep.2013) – Malaysia's Petronas will exit the Petrocarabobo project in Venezuela's Orinoco Heavy Oil Belt or Faja, according to Venezuela's Oil Minister Rafael Ramirez. The...
PetroPar Debt Will Not Be Forgiven
(Energy Analytics Institute, Ian Silverman, 10.Sep.2013) – PDVSA President Rafael Ramirez, who also serves as Venezuela's Oil Minister, said that the debt owed to PDVSA by Petroleos de Paraguay (Petropar)...
Q&A with PDVSA Refining Director Jesus Luongo
(Energy Analytics Institute, Piero Stewart, 9.Sep.2013) – PDVSA Refining Director Jesus Luongo spoke briefly with Energy Analytics Institute on the sideline of a press conference in Caracas, Venezuela. What follows...
11th Meeting of PetroCaribe Ministers
(Energy Analytics Institute, Ian Silverman, 8.Sep.2013) – Venezuela's Energy Minister Rafael Ramirez participated in the 11th meeting of the Council of Petrocaribe Ministers in Port-au-Prince, Haiti according to an official...
PDVSA Flatboat Overturns, Sinks in Zulia
(Energy Analytics Institute, Ian Silverman, 8.Sep.2013) – PDVSA announced a flatboat with 20 workers overturned and sank in Lagunillas in Zulia state. All the workers were rescued, reported the daily...
Venezuela’s Merentes Comments on OPEC
(Energy Analytics Institute, Ian Silverman, 8.Sep.2013) – Venezuela's Finance Minister Nelsen Merentes comments on Venezuelan state television or VTV. "OPEC production restrictions limit growth of Venezuela's petroleum sector GDP as...
Ramirez Talks PDVSA on ‘Jose Vicente Hoy’
(Energy Analytics Institute, Piero Stewart, 8.Sep.2013) – Venezuelan Oil Minister Rafael Ramirez comments on the oil worker's strike in 2002-2003 against PDVSA. "Venezuelan opposition has spent 10-years saying PDVSA would...
Camisea Gas Compression Plant Online by YE:15
(Energy Analytics Institute, Ian Silverman, 29.Aug.2013) – The Camisea gas compression plant will be ready in December 2015. The plant will require an investment of $318 mln and will allow...
Eni CEO Comments on Perla
(Energy Analytics Institute, Ian Silverman, 28.Aug.2013) – Eni Chief Executive Officer Paolo Scaroni comments during a special event at PDVSA’s headquarters in Caracas, Venezuela about his company's participation in activities...
Venezuela, Trinidad Meet Over Border Gas
(Energy Analytics Institute, Ian Silverman, 26.Aug.2013) – Venezuelan Oil Minister Rafael Ramirez met with his counterpart from Trinidad and Tobago, Kevin Ramnarine in Caracas to discuss a development plan for...
PDVSA Initiates Production At Dragon Field
(Energy Analytics Institute, Piero Stewart, 25.Aug.2013) – Development of the offshore fields Dragon, Patao, Mejillones and Rio Caribe located in the Northern Paria Peninsula will allow for initial production of...
PDVSA President Comments on Citgo
(Energy Analytics Institute, Ian Silverman, 25.Aug.2013) – During a trip with reporters in Guiria, PDVSA President Rafael Ramirez commented about the company's CITGO Corporation refineries in the USA: "PDVSA's USA...
Oil Analyst Speak at IESA Energy Forum
(Energy Analytics Institute, Piero Stewart, 20.Aug.2013) – Energy sector analyst from Medley to Harvard Kennedy spoke at an energy forum at IESA in Caracas. Quote highlights from the forum follow:...
Rosneft and PDVSA Evaluate Gas Projects
(Energy Analytics Institute, Ian Silverman, 15.Aug.2013) – Rosneft and PDVSA are reviewing plans to extract gas in Sucre state and in the Gulf of Venezuela, according to a PDVSA official....
Venezuela Inaugurates Nororiental Gas Pipeline
(Energy Analytics Institute, Ian Silverman, 15.Aug.2013) – Venezuela inaugurated the first part of the Northeastern Gas Pipeline in Jefe Jose Francisco Bermudez. The pipeline extends from Barbacoa in Anzoategui state...
Rosneft to Use Russian Technology at PetroMonagas
(Energy Analytics Institute, Ian Silverman, 14.Aug.2013) – Rosneft President Igor Sechon said his company would utilize Russian technology at the Petromonagas heavy oil project to increase production to 160,000 b/d...
Rosneft, PDVSA Agree to Create PetroVictoria
(Energy Analytics Institute, Ian Silverman, 14.Aug.2013) – PDVSA and Russia's Rosneft signed an agreement to create the JV company Petrovictoria, which will operate Carabobo Block 2 in Anzoategui and Monagas...
Amuay Explosion in 2012 Cost PDVSA $1.8 Bln
(Energy Analytics Institute, Ian Silverman, 13.Aug.2013) – The Energy Orientation Center (COENER) announced the Amuay refinery explosion will cost PDVSA $1.8 billion. The explosion at the Amuay refinery was caused...
Q&A with Oil Outlook President Carl Larry
(Energy Analytics Institute, Pietro D. Pitts, 9.Aug.2013) – Oil Outlook President Carl Larry spoke with Energy Analytics Institute in a brief interview from Houston, Texas. What follows are excerpts from...
Q&A with Chevron LatAm’s Susana Brugada
(Energy Analytics Institute, Pietro D. Pitts, 7.Aug.2013) – Chevron Latin America Business Unit Public Affairs and Communications Coordinator Susana Brugada spoke with Energy Analytics Institute in a brief interview from...
Journalist Round Table with Rafael Ramirez
(Energy Analytics Institute, Piero Stewart, 31.Jul.2013) – PDVSA President Rafael Ramirez held a small round table with journalist in Caracas, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez...
Bolivar State Governor Comments On Faja
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – The Governor of Bolivar state in Venezuela, Francisco José Rangel Gómez, commented on the Faja. "Chavez gave us political independence and now we...
Ramirez Comments on Oil, Mining Sectors
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – Venezuelan Oil Minister Rafael Ramirez comments on development of the Orinoco Heavy Oil Belt and the Venezuelan mining sector. "The Faja project was...
Speech by Rafael Ramirez from Puerto Ordaz
(Energy Analytics Institute, Piero Stewart, 27.Jul.2013) – PDVSA's and Venezuela’s Oil Minister President Rafael Ramirez spoke at the closing of the Sixth National Production Meetings in Puerto Ordaz, Venezuela. What...
Q&A with Fitch’s Lucas Aristizabal
(Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Fitch’s Latin America Corporates Group Director Lucas Aristizabal spoke with Energy Analytics Institute in a brief interview from New York City, New...
Q&A with Tissot Associate’s Roger Tissot
(Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Tissot Associates Consultant Roger Tissot spoke with Energy Analytics Institute in a brief interview from Canada. What follows are excerpts from the...
Rafael Ramirez Speech in from Cumana
(Energy Analytics Institute, Piero Stewart, 18.Jul.2013) – PDVSA's and Venezuela’s Oil Minister President Rafael Ramirez spoke with journalist in Cumana, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez...
Citgo’s Garay Comments on PDVSA Imports
(Energy Analytics Institute, Piero Stewart, 17.Jun.2013) – The Public Affairs Manager with Houston-based Citgo Petroleum, Fernando Garay, comments via phone regarding declining imports of Venezuelan crude oil in the U.S....
Q&A with Brookshire’s Gianna Bern
(Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Brookshire Advisory and Research President Gianna Bern spoke with Energy Analytics Institute in a brief interview from Chicago, IL. What follows are...
Sinovensa Signs $4 Bln Financing Agreement
(Energy Analytics Institute, Ian Silverman, 12.Jul.2013) – Sinovensa President Erwin Hernandez and China's Development Bank Vice President Wang Yongshen signed a financing agreement in Beijing for $4 million for the...
Japan, Venezuela Sign Energy MOU
(Energy Analytics Institute, Ian Silverman, 10.Jul.2013) – Venezuela's Energy and Petroleum Minister Rafael Ramirez and his Japanese counterpart Toshimitsu Motegi meet in Tokyo to review advances under a MOU signed...
Paraguana Refining Center Running at 717 Mb/d
(Energy Analytics Institute, Piero Stewart, 6.Jul.2013) – With the five distillation plants at Amuay Refinery operating, average processing levels at the Paraguana Refining Center (CRP) were 717,000 b/d in June...
PDVSA Says Paraguana Wind Park Advances
(Energy Analytics Institute, Ian Silverman, 3.Jul.2013) – PDVSA initiated wind studies in 2007 and by December 2012 the company had 23 turbines in place with a processing capacity of 33...
Ecuador Open Market Meetings in Houston
(Energy Analytics Institute, Ian Silverman, 25.Jun.2013) – PetroEcuador holds open market committee meetings in Houston, Texas. Highlights from the discussion follow: Comments from PetroEcuador International Commerce Executive Nilsen Arias: "Oil's...