(Argus, 2.Nov.2021) — Two major Venezuelan opposition parties today voted against a decree issued by US-backed shadow parliamentary leader Juan GuaidĂł, an unprecedented rupture that foreshadows the expiry of his constitutional claim to an interim presidency in January 2022. Decree number 38, which GuaidĂł first presented in early October, called for […]
Category: Latin America and the Caribbean
Guyana To Auction New Oil Blocks By 3Q:22, VP Jagdeo Says
(Reuters, 2.Nov.2021) — Guyana plans to auction new blocks for offshore oil exploration by the third quarter of 2022, Vice President Bharrat Jagdeo said late on Monday. A consortium led by Exxon Mobil is responsible for all output in Guyana, Latin America’s new oil frontier, since the vast Stabroek block […]
US, EU, And Partners Launch Global Methane Pledge
(US Department of State, 2.Nov.2021) — Today, the United States, the European Union, and partners formally launched the Global Methane Pledge, an initiative to reduce global methane emissions to keep the goal of limiting warming to 1.5 degrees Celsius within reach. A total of over 100 countries representing 70% of the […]
NRGBriefs: Argentina’s Vaca Muerta-San Jerónimo Pipeline
(Energy Analytics Institute, 1.Nov.2021) — Energy briefs including YPF’s President Pablo González saying the national government would be revealing details “within a few days” regarding a new gas pipeline project that would transport production from the Vaca Muerta formation to San JerĂłnimo and potentially on to Brazil; details of around […]
NRGBriefs: Atlantic LNG’s Carbon Abatement Plan
(Energy Analytics Institute, 29.Oct.2021) — Energy briefs including Atlantic LNG revealing its carbon abatement strategy; Brazil’s oil giant Petrobras reducing its gross debt load to $59.6bn in the 3Q:21; and more. LATIN AMERICA AND THE CARIBBEAN Colombia — GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) entered into and closed an […]
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Petrobras Releases 3Q:21 Report [PDF Download]
(Petrobras, 29.Oct.2021) — In 3Q21, Petrobras posted excellent operating and financial results. According to CEO Joaquim Silva e Luna, “It is with great honor that I share with you the results achieved. We reached our debt target much earlier than planned and we are sharing part of the wealth generated […]
Guyana Plots Shift To Natural Gas, Renewable Energy
(Reuters, 28.Oct.2021) — Guyana plans to meet an unprecedented growth expected in its power demand by building a new gas-fueled plant and expanding its hydropower capacity, a key step to leave behind fossil fuels for generating electricity, President Irfaan Ali said this week. Latin America’s newest oil producer on Thursday […]
Pemex Back In Red Despite Oil Production Uptick
(Reuters, 28.Oct.2021) — Higher tax payments and foreign exchange losses pushed Mexico’s Petroleos Mexicanos back into the red in the third quarter, even as crude production recovered somewhat, the state oil company said on Thursday. Pemex lost 62.8 billion pesos ($3 billion) compared to a profit of 1.4 billion pesos […]
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Pemex Releases 3Q:21 Results [PDF Downloads]
(Pemex, 28.Oct.2021) — For the fourth quarter in a row, crude oil production increased and recorded 1,752 Mbd without partners’ production. This increase as compared to the same period of the previous year represents five per cent. Moreover, crude oil processing levels recorded 696 Mbd. During January-September, Pemex transferred almost […]
ENAP Reports Profits of Ch$90bn as of 3Q:21
(ENAP, 28.Oct.2021) — Empresa Nacional del PetrĂłleo (ENAP), achieved a profit of Ch$90bn (US$109.9mn) in the third quarter of this year, compared to a loss of Ch$103bn (US$127.2mn) in the same period of the previous year, equivalent to a better result of Ch$190bn (US$237.1mn). These figures reaffirm the positive trend […]
Pemex Swings To $3.8bn Loss In Third Quarter
(Ft.com, 28.Oct.2021) — Mexico’s state oil company reported a 77.2bn peso ($3.8bn) loss in the third quarter of the year because of a higher tax burden and large foreign exchange losses from a weaker peso. That followed a profit of 1.4bn pesos in the year-ago quarter. Pemex on Thursday revealed total crude […]
Mexico Lowers Pemex Tax Burden
(S&P Global Platts, 28.Oct.2021) — The Mexican government has reduced the tax rate that state oil company Pemex will pay in 2022 to 40% from 54% currently, which could help it achieve its goals of producing a little over 2 million b/d by the end of the administration’s term. The […]
Electrification, The Future Of Trinidad’s Car Industry
(Trinidad and Tobago Newsday, 28.Oct.2021) — There is no doubt that electrification is at the centre of the automotive industry’s future. Many automakers – including major players like Volvo and General Motors – have already announced that within the next decade or two, the vehicles they manufacture will no longer […]
Mexico’s Government To Assume Pemex’s Debt Payments
(Bloomberg, 28.Oct.2021) — Mexico President Andres Manuel Lopez Obrador, the great champion of his beloved but beleaguered state-owned oil giant, may be making his boldest move yet to keep it afloat. Petroleos Mexicanos chief Octavio Romero told lawmakers Wednesday that AMLO, as the president is known, has instructed the company […]
Mexico Moves To Re-Nationalize Energy Markets
(Forbes, 28.Oct.2021) — Recent moves by Mexico’s government targeting the country’s energy industry have led to increasing concerns that President AndrĂ©s Manuel LĂłpez Obrador (AMLO) intends to ultimately re-nationalize the nation’s entire energy sector. This happened once before in 1938 and has never served Mexico’s national interest well, a reality […]
NRGBriefs: Hess Says Liza Phase 2 On Track
(Energy Analytics Institute, 28.Oct.2021) — Energy briefs including Hess Corp. confirming that production from its Liza Phase 2 development in Guyana is on track to startup in early 2022; Avino Silver & Gold Mines Ltd. entering into a share purchase agreement to indirectly acquire through the purchase of the shares […]
Hess Updates On Guyana Activities
(Hess, 27.Oct.2021) — At the Stabroek Block (Hess – 30%), the corporation’s net production from the Liza Field was 32,000 bopd in the third quarter of 2021 compared with 19,000 bopd in the prior year quarter. The Liza Unity FPSO, with an expected capacity of 220,000 gross bopd, arrived at […]
NRGBriefs: Liza Unity FPSO Reaches Guyana
(Energy Analytics Institute, 27.Oct.2021) — Energy briefs including the Liza Unity FPSO reaching Guyana’s prolific Stabroek Block; liquefied petroleum gas (LPG) reaching approximately 12mn users across Colombia; and more. LATIN AMERICA AND THE CARIBBEAN Brazil –Brazil’s ANP published the complete version of the Brazilian Statistical Yearbook of Petroleum, Natural Gas […]
Citgo Ex-President Suffers Mild Heart Attack In Venezuela Jail
(Reuters, 26.Oct.2021) — The former president of oil refiner Citgo, a U.S. subsidiary of Venezuelan oil company PDVSA, suffered a mild heart attack in prison in Caracas and was transferred to a hospital, his lawyer told Reuters on Tuesday. Jose Pereira is one of six former company executives, all naturalized […]
Ecopetrol Names New Corporate VP Of Strategy
(Ecopetrol, 26.Oct.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) reports that starting 1 November 2021, Nicolás AzcuĂ©naga RamĂrez has been appointed as the new Corporate Vice President of Strategy and New Businesses, taking over for Juan Manuel Rojas. Nicolás AzcuĂ©naga is a business administrator from Colegio de Estudios Superiores de AdministraciĂłn […]
Bolsonaro Says Petrobras Privatization Is ‘On Our Radar’ As Fuel Prices Rise
(Reuters, 25.Oct.2021) — Brazilian President Jair Bolsonaro reiterated that he is considering the privatization of state-run oil company Petrobras, boosting its shares along with news of a fresh price hike in the domestic gasoline and diesel market. “This is on our radar,” the far-right president said during a radio interview. […]
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NRGBriefs: Venezuelan Production Goals [PDF Download]
(Energy Analytics Institute, 25.Oct.2021) — Energy briefs including Venezuela’s near-term oil production goals; Petrobras’ plans to host two 3Q:21 webcasts using Microsoft Teams; B2Gold Corp. entering into a binding agreement w/ West African Resources Limited; and more. LATIN AMERICA AND THE CARIBBEAN Brazil — On 29 Oct. 2021 Petobras will […]
Peru’s Castillo Urges Congress To Draft Bill To Nationalize Gas Sector
(Reuters, 25.Oct.2021) — Peru’s socialist president, Pedro Castillo, urged Congress on Monday to draft a bill for the “nationalization” of Peru’s natural gas sector, undoing previous statements in which he said he would not seek to nationalize parts of the economy. In remarks broadcast on government-owned TV Peru, Castillo said […]
NRGBriefs: Colombia Eyes Net-zero Deforestation By 2030
(Energy Analytics Institute, 22.Oct.2021) — Energy briefs including CorporaciĂłn Nacional del Cobre de Chile (Codelco) announcing final results of a previously announced offer to purchase for cash outstanding notes due in 2023, 2024, and 2025; Colombia aiming to achieve net-zero deforestation by 2030 and carbon neutrality by 2050; Frontera Energy […]
Atlas Gets ESG Social Award
(Atlas, 22.Oct.2021) — Atlas Renewable Energy has been awarded IJGlobal’s 2020 ESG Energy Deal of the Year (Americas) and ESG Social Award. The recognitions were announced on 21 October 2021, at IJGlobal‘s award ceremony in London. According to IJGlobal, these two recognitions were awarded to Atlas due to the company’s […]
Citgo Boards In Last-ditch Talks With Washington
(Reuters, 22.Oct.2021) — The supervisory boards of Venezuela-owned Citgo Petroleum, racing to stave off a breakup of the eighth largest U.S. oil refiner, have held talks with U.S. officials in Bogota, Colombia, seeking to extend Washington’s protection while Citgo pursues negotiations with creditors, Reuters has learned. Citgo is running out […]
Petrobras On Campos Basin Teaser
(Petrobras, 22.Oct.2021) — Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire stake (100%) in the Catuá Field, belonging to the BC-60 Exploratory Block, located in the Campos Basin, in the state of EspĂrito Santo. The teaser, which includes key information about the opportunity, as well as the eligibility criteria for the selection of potential participants, is available on the Petrobras Investor Relations website: https://www.investidorpetrobras.com.br/en/results-and-notices/teasers. The main […]
Petrobras Expands On ANP Agreement
(Petrobras, 22.Oct.2021) — Petrobras informs that, on 14 October 2021, its Executive Board analyzed and approved the submission to the Board of Directors of a proposal to enter into an Agreement between Petrobras and the National Agency of Petroleum, Natural Gas and Biofuels (ANP) related to royalties on the operation of the Shale Industrialization Unit (SIX), located in SĂŁo Mateus do Sul/PR. The terms of the agreement were approved by the ANP’s collegiate board […]
Guyana – One Of The World’s Last Oil And Gas Frontiers
(The Geological Society of Trinidad, 21.Oct.2021) — ExxonMobil recently announced that their recoverable oil and gas resources in Guyana had reached an unbelievable ten billion barrels of oil equivalent. The first discovery was in 2015 and six years later Exxon and Guyana have achieved the unimaginable. Guyana accounts for 20 […]
NRGBriefs: Guyana Courts The UAE Or Vice Versa
(Energy Analytics Institute, 21.Oct.2021) — Energy briefs including details of Guyana’s President Irfaan Ali courting investors in the UAE; the repercussions in Caracas from the extradition of Alex Saab to Miami from Capo Verde, and Shell Trinidad and Tobago eyeing finally signing a PSC for development of the 2.7 Tcf […]
Argentina Launches Third Tender To Boost Production
(Natural Gas Intelligence, 20.Oct.2021) — Argentina’s government has launched a natural gas tender to try to shore up domestic supply starting in the Southern Hemisphere winter in 2022. The majority of the gas would come from the NeuquĂ©n Basin, home to the massive Vaca Muerta formation. Energy Secretary DarĂo MartĂnez […]
Capstone Green Reveals Cooling App For Llanogas
(Capstone, 20.Oct.2021) — Capstone Green Energy Corporation (NASDAQ:CGRN) announced that Supernova Energy Services, Capstone’s exclusive distributor for Colombia and Venezuela, secured an order for a three-bay C400 Signature Series microturbine to be installed in a cogeneration application and supply electricity and cooling for Llanogas, a leading natural gas utility company […]
Bolsonaro’s Privatization Talk Masks Petrobras Struggles
(Bloomberg, 20.Oct.2021) — For all President Jair Bolsonaro’s recent talk of privatizing Brazil’s crown jewel, oil giant Petrobras has struggled even to unload a handful of refineries. And its chances have never looked worse. With global fuel demand still reeling from the pandemic and refineries shutting down elsewhere, Brazil is […]
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Petrobras Highlights 3Q:21 Production And Sales [PDF Download]
(Petrobras, 20.Oct.2021) — In 3Q21, Petrobras continued to operate safely and with a solid performance, still with a differentiated regime and special protocols due to the pandemic scenario, but with a gradual increase in the number of people on board. The average production of oil, LGN and natural gas reached […]
Frontera To Host Webcast On Guyana-Suriname Basin
(Frontera, 20.Oct.2021) — Frontera Energy Corporation (TSX: FEC), the majority shareholder of CGX Energy Inc. (TSXV: OYL) and joint venture partner in the Petroleum Prospecting Licenses for the Corentyne and Demerara blocks offshore Guyana will deliver an informational virtual presentation on the Guyana-Suriname basin, the offshore Corentyne block and the […]
GeoPark Accelerates Colombia Drilling Activity
(GeoPark, 19.Oct.2021) — GeoPark Limited (NYSE: GPRK) announced its operational update for the three-month period ended 30 September 2021 (3Q:21). Highlights Consolidated oil and gas production of 37,859 boepd, up 4% compared to 2Q2021 Oil production of 32,844 bopd, up 6% compared to 2Q2021 due to increased production in Colombia […]
TGS, BGP, CGG Ink Deal With Staatsolie
(TGS, 19.Oct.2021) — TGS, a global provider of energy data and intelligence, in a consortium with CGG and BGP, today announced the signature of a multi-client agreement with Staatsolie, the state-owned company leading the development of the energy industry in the Republic of Suriname. The agreement allows the consortium to […]
Shell To Tap Major Gas Field Off Trinidad
(Argus, 19.Oct.2021) — Shell plans to sign a production-sharing contract (PSC) for the 2.7 Tcf Manatee offshore natural gas field in Trinidad and Tobago, a project the government hopes will overcome a chronic gas supply shortage. Manatee holds the potential to provide “the single largest new gas production in Trinidad […]
Guyana Wants to Build a 135-Mile Undersea Gas Pipeline
(Bloomberg, 19.Oct.2021) — Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly sees gas as the bedrock for growing its domestic economy. Work will begin on constructing a major gas-fired power plant in 2022 on the expectation […]
Aura Air To Provide BHP Smart Air Systems In Chile
(Aura Air, 19.Oct.2021) — Aura Air, the air purification company offering solutions that make air clean and safe, announced a partnership with global mining corporation BHP to install over 1,000 smart air purifiers in their Escondida and Pampa Norte facilities in Chile. Implementing Aura Air units in BHP’s facilities will […]
Petrobras Comments On Fuel Orders Fulfillment
(Petrobras, 18.Oct.2021) — Petrobras clarifies about pieces of news in the media regarding cuts in fuel orders fulfillment. As disclosed in the 2Q21 Production and Sales Report, the company operated its refining facilities in the first half of 2021 with a utilization factor (UF) of 79%, in line with the […]
NRGBriefs: Renewable Energy Ops In The Caribbean
(Energy Analytics Institute, 15.Oct.2021) — Energy briefs including details of four renewable energy-exporting opportunities in the Caribbean in Barbados, Jamaica, Trinidad and Tobago and Guyana; TotalEnergies extending the contract for the Maersk Voyager in Angola for Ondjaba-1; and more. EVENTS — The Caribbean Renewable Energy Forum 2021 takes place from […]
As Western Oil Giants Cut Production, NOCs Step Up
(New York Times, 14.Oct.2021) — After years of pumping more oil and gas, Western energy giants like BP, Royal Dutch Shell, Exxon Mobil and Chevron are slowing down production as they switch to renewable energy or cut costs after being bruised by the pandemic. But that doesn’t mean the world […]
Petrobras Divests Bahia Terra Cluster
(Petrobras, 14.Oct.2021) — Petrobras, regarding the pieces of news in the media about the sale of onshore production fields, located in the RecĂ´ncavo and Tucano Basins, in the state of Bahia, jointly called the Bahia Terra Cluster, clarifies that it has received binding offers from potential interested parties in the […]
NRGBriefs: ANH Talks About Colombia’s Gas Potential
(Energy Analytics Institute, 14.Oct.2021) — Energy briefs including comments from a webcast hosted by the ACIPET spanning speakers such as ANH head Armando Zamora as well as ANH’s JosĂ© de Armas and Ecopetrol executive Maria Fernand Arango; Colombia’s massive gas potential onshore and offshore; ExxonMobil heard being close to reaching […]
NRGBriefs: EP PetroEcuador Awards Export Deals
(Energy Analytics Institute, 13.Oct.2021) — Energy briefs including the IMF advising Argentina to lower its deficit and estimating Venezuela’s inflation at 2,700% this yr, Colombia’s mines and energy minister Diego Mesa saying the country is committed to advancing its decarbonization goals; EP PetroEcuador awarding export deals to Shell Western Supply […]
Staatsolie Inks Offshore PSC With Chevron
(Staatsolie, 13.Oct.2021) — By signing the Production Sharing Contract (PSC), Staatsolie grants Chevron rights for exploration, development and production in the offshore area, while Staatsolie retains the right to a forty percent participation. For the first time in Staatsolie’s history the company will participate as a partner in offshore activities […]
Mexico Presents Plan To Shutter Private Power Plants
(AP, 11.Oct.2021) — Mexico’s president presented details on Monday of a proposal that is likely to squeeze out hundreds of private power generating plants and may provoke complaints under the Mexico-U.S.-Canada free trade accord. The constitutional reform presented by President AndrĂ©s Manuel LĂłpez Obrador would cancel contracts under which 34 […]
Pemex Makes $31.5mn Payment To Seadrill
(Seadrill, 11.Oct.2021) — Seadrill Limited (OSE: SDRL) (OTCPK: SDRLF) and the issuer announce that at the end of September 2021, certain subsidiaries of SeaMex Ltd. (in provisional liquidation), a 50/50 joint venture entered into by one of the issuer’s subsidiaries, Seadrill JU Newco Bermuda Ltd., received payments amounting to approximately […]
Aguila Energia Places $1.5bn Bid For Petrobras’ Bahia Fields
(Reuters, 11.Oct.2021) — A consortium led by Aguila Energia has placed the highest bid for Brazilian state-run oil company Petrobras‘ Bahia onshore fields, offering over $1.5 billion, according to two sources with knowledge of the situation. Petroleo Brasileiro (PETR4.SA), as the company is formally known, declined to comment. The proposal by […]