(Energy Analytics Institute, 23.Nov.2020) — Peru’s hydrocarbon sector is on the verge of collapse due to the fall in the price of oil, the Covid-19 pandemic and persistent conflicts impacting the hydrocarbon sector in the country’s northern jungle region, warned Pablo de la Flor, executive director of Peru’s National Society […]
Category: Peru
Peru energy
Peru’s Interim President Merino Resigns
(Energy Analytics Institute, 15.Nov.2020) — Congressional President Manuel Merino De Lama resigned as Peru’s interim presidency within less than a week of assuming the power void created by the impeachment of President Martín Vizcarra Cornejo. RELATED STORY: Peru looks to 2021 elections amid political uncertainties __________ By Piero Stewart. © […]
Peru LNG Continues Ops Amid Political Turmoil
(Energy Analytics Institute, 11.Nov.2020) — Operations at Peru LNG, the company that runs South America’s first gas liquefaction plant located in Pampa Melchorita, have yet to be affected by the recent impeachment of Peru’s President Martín Vizcarra. Peru LNG is comprised of a 408-kilometer gas pipeline, a liquefied natural gas […]
Peru Looks To 2021 Elections Amid Political Uncertainties
(Energy Analytics Institute, 9.Nov.2020) — Peru’s Congress is eyeing presidential elections in 2021 amid turmoil created by the impeachment of President Martín Vizcarra Cornejo owing to corruption allegations. Peru’s Congress approved Vizcarra’s vacancy in a special session on 9 November 2020 in what it deemed in an official statement as […]
Peru’s President Martín Vizcarra Impeached
(Energy Analytics Institute, 9.Nov.2020) — Peru’s President Martín Vizcarra was impeached over the weekend after a vote over corruption allegations. Manuel Merino, the head of Peru’s Congress, will assume the presidency until July 2021, the period in which Vizcarra’s presidential term was set to expire, according to local reports in […]
Karoon Energy Names Julian Fowles As New CEO
(Karoon Energy, 26.Oct.2020) — Karoon Energy Ltd announced Dr Julian Fowles has been appointed as Chief Executive Officer and Managing Director. Dr Fowles will commence with Karoon immediately following the conclusion of Karoon’s annual general meeting on 27 November 2020. Karoon Chairman, Bruce Phillips said, “After an extensive and rigorous […]
Fitch Affirms Peru LNG At ‘BB-‘; Negative Outlook
(Fitch, 10.Sep.2020) — Fitch Ratings has affirmed Peru LNG S.R.L’s (PLNG) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB-‘. The Rating Watch Negative has been removed, and a Negative Outlook has been assigned. The rating also includes PLNG’s $940mn senior unsecured notes due 2030. PLNG’s Ratings and […]
PetroTal Restart In Peru Hinges On Social Outlay
(Argus, 25.Aug.2020) — Canadian independent PetroTal is waiting for Peru’s government to implement an accord with indigenous communities so it can reopen its 10,000 b/d block in the northern jungle. PetroTal was forced to shut in production on 9 August, when indigenous protesters threatened block 95 in the Loreto region. […]
GeoPark To Release Block 64 Back To PetroPeru
(Energy Analytics Institute, 13.Aug.2020) — PetroPerú S.A. agreed to accept the transfer of GeoPark Peru S.A.C.’s 75% interest in the license agreement for Block 64; thus, obtaining 100% of the rights and obligations as a contractor for the exploration and exploitation of hydrocarbons from the deposit. GeoPark Peru had already […]
Camisea Has Contributed Royalties Of $10.5bn
(Energy Analytics Institute, 7.Aug.2020) — Camisea has reportedly contributed $10.45bn in terms of royalties during the 16 years it has been operating in Peru, website La República reported 7 August 2020. This figure represent 0.5% of the country’s gross domestic product (GDP), the media reported. Camisea’s gas exploitation takes place […]
Tullow Peru Update: Blocks Z-67 And Z-68
(Tullow, 17.Jul.2020) — Tullow is also working closely with the government to secure additional licenses. The Marina-1, non-operated exploration well, drilled in block Z-38 offshore Peru in Q1 2020 did not encounter significant hydrocarbons. The well was drilled to a total depth of 3,022 meters in 362 meters of water […]
JPMorgan Chase Climate Action Is Vastly Insufficient
(Amazon Watch, 18.May.2020) — Today, JPMorgan Chase – the largest bank in the United States and the largest banker of fossil fuels worldwide – will hold its Annual General Meeting. Among other decisions, the bank’s shareholders will vote on whether or not Lee Raymond should remain on the bank’s Board […]
PetroTal Provides Update On Financing Arrangements
(PetroTal, 7.May.2020) — PetroTal Corp. announces that the Northern Oil Pipeline (“ONP”) operated by Petroperu S.A. has been shut down by a public health directive from the Peruvian government, thereby resulting in PetroTal having to shut in the Bretana oil field as a result of storage capacity limitations. Additionally, PetroTal […]
Repsol Running Peru Refinery At 30pc Capacity
(Argus, 6.May.2020) — PetroPeru’s 12,000 b/d Iquitos refinery in the northern jungle is currently closed. Its 553,200 bl of storage is full. The 15,500 b/d Conchan refinery in Lima was closed for most of March, but restarted in late April at 50pc capacity. PetroPeru’s 65,000 b/d Talara plant on the […]
Sempra To Divest Luz Del Sur In Peru For $3.59bn
(Sempra, 10.Apr.2020) — Sempra Energy received all required governmental authorizations for the sale of the company’s equity interests in its Peruvian businesses. The sale to China Yangtze Power International (Hongkong) Co., Limited (CYP) will generate approximately $3.59 billion in total cash proceeds and is subject to customary post-closing adjustments. CYP […]
PetroPeru Continues Ops Amid Coronavirus Pandemic
(Energy Analytics Institute, Ian Silverman, 29.Mar.2020) — Personal with PetroPeru at the company’s Talara installations and others in Peru continue to work 24 hours a day with aim to ensure the supply of fuels across the South American country’s entire territory during this coronavirus health emergency, the company announced 29 […]
LNG Exports Sink In Quarantined Peru
(Argus, 24.Mar.2020) — Peru’s natural gas production has been steadily declining and the Peru LNG plant has been idle since the government issued a national lockdown a week ago to prevent the spread of the new coronavirus. Gas production has fallen from 1.12bn cf/d on 15 March, the day the […]
Frontera Extends Deal With PeruPetro
(Frontera, 2.Mar.2020) — Frontera Energy Corporation has executed a six-month extension agreement with Perupetro S.A. with respect to the temporary service contract on Block 192 in Peru. The contract, which was due to expire on March 2, 2020, has been extended to September 2, 2020. The extension will help sustain […]
Karoon Starts Drilling In Peru At Marina‐1 Well
(Karoon, 28.Jan.2020) — Karoon Energy Ltd announced the Stena Forth Drillship has commenced the drilling of the Marina‐1 exploration well located in Block Z‐38 Tumbes Basin, Peru. The wholly owned, Karoon subsidiary, KEI (Peru Z‐38) Sucursal del Peru is the operator and has a 40% net interest in Block Z‐38. […]
Peru Deploys Army To Safeguard Strategic Gas Line
(Argus, 19.Dec.2019) — Peru’s government has deployed army troops to safeguard a jungle stretch of the Camisea natural gas and gas liquids pipelines from potential attacks under a 60-day emergency declaration. The lines are critical to Peru’s LNG and LPG export businesses, which are operating normally. The emergency measure covers […]
LatAmNRG Bolivia Briefs: fuel shortage contingencies, Morales vows return
HOUSTON, TEXAS (By Energy Analytics Institute, Ian Silverman, 18.Nov.2019, Words: 324) — Heard on the street and LatAmNRG briefs related to Bolivia preparing emergency plan to import fuels, Evo Morales vows his return to Bolivia from Mexico, and repairs to the Carrasco-Cochabamba pipeline estimated to cost $200mn. Bolivia Prepares Emergency […]
GeoPark Announces All-Cash Deal With Amerisur
(GeoPark, 15.Nov.2019) — GeoPark Limited, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador announces the acquisition of Amerisur Resources Plc. Strategic Rationale: Capturing Scale GeoPark has a 17-year track record of creating value […]
Frontera Announces Quarterly Dividend
(Frontera, 7.Nov.2019) — Frontera Energy Corporation announces that its Board of Directors has declared a dividend of C$0.205 per common share, which will be paid on or about January 17, 2020 to shareholders of record at the close of business on January 3, 2020. The company’s Board of Directors dividend […]
Frontera’s 3Q:19 Results Date
(Frontera, 20.Oct.2019) — Frontera Energy Corporation will release its third quarter 2019 results after market on Thursday, November 7, 2019 followed by a conference call for investors and analysts on Friday, November 8, 2019 at 8:00 a.m. (MDT), 10:00 a.m. (EST/GMT-5). Participants will include Gabriel de Alba, Chairman of the […]
Frontera’s Renewal Of Normal Course Issuer Bid
(Frontera, 16.Oct.2019) — Frontera Energy Corporation accepted its notice to renew its normal course issuer bid (the NCIB) for its common shares. Pursuant to the NCIB, Frontera may purchase up to 6,532,400 Common Shares during the twelve-month period commencing October 18, 2019 and ending October 17, 2020, representing approximately 10% […]
Frontera’s 3Q:19 Update
(Frontera, 10.Oct.2019) — Frontera Energy Corporation announces a third quarter 2019 operational update and notice of financial results and conference call. All values in this news release and the Company’s financial disclosures are in United States dollars, unless otherwise noted. Third Quarter Production and Average Oil Prices Frontera delivered estimated […]
Protest In Peru Halt Frontera’s Output
(Reuters, 10.Sep.2019) — Indigenous communities took control of a small airport and an oil pumping station in Peru to demand the government clean up pollution, halting production at an oil block operated by Frontera Energy Corp’s, a tribal chief said on Tuesday. Protesters in the Amazonian region of Loreto want […]
LatAmNRG Briefs and Heard On the Street: Guyana, Venezuela, Chile, Peru
(Energy Analytics Institute, Jared Yamin and Piero Stewart, 2.Aug.2019) — LatAmNRG briefs and heard on the street related to Sempra Energy’s divestments in South America, Tullow Oil plc’s three well exploration campaign in Guyana, and workers continue to quit work at PDVSA in Punto Fijo due to low salaries and […]
Frontera Energy Announces Strong 2Q:19 Results
(Frontera, 1.Aug.2019) — Frontera Energy Corporation announces release of its Interim Condensed Consolidated Financial Statements for the second quarter of 2019, together with its Management, Discussion and Analysis (“MD&A”). These documents will be posted on the Company’s website at www.fronteraenergy.ca and SEDAR at www.sedar.com. All values in this news release […]
Frontera Announces 2Q:19 Conference Call Details
(Frontera, 1.Aug.2019) — Frontera Energy Corporation announces a conference call for investors and analysts will be held on Friday, August 2, 2019 at 8:00 a.m. (MDT), 9:00 a.m. (GMT-5) and 10:00 a.m. (EDT). Participants will include Gabriel de Alba, Chairman of the Board of Directors, Richard Herbert, Chief Executive Officer, […]
Frontera Announces 2Q:19 Peru And Colombia Update
(Frontera, 3.Jul.2019) — Frontera Energy announces a second quarter 2019 operational update. All values in this news release and the Company’s financial disclosures are in United States dollars, unless otherwise noted. Second Quarter Production and Average Oil Prices Frontera delivered estimated second quarter 2019 production of 74,285 boe/d, representing quarterly […]
Tullow Eyes Two Guyana Exploration Wells In 2H:19
(Tullow, 26.Jun.2019) — In Guyana, Tullow plans to drill two consecutive exploration wells in the second half of 2019 on the Orinduik licence with the Stena Forth drillship which is currently in transit from Ghana. The first well will target the Lower Tertiary Jethro prospect and drilling is expected to […]
LatAmNRG Heard On The Street: Gas Markets, Argentina Tender
(Energy Analytics Institute, Aaron Simonsky and Ian Silverman, 25.Jun.2019) — Heard on the street related to the Latin America and Caribbean upstream, midstream, downstream and renewable energies sectors. ARGENTINA — During the first half of July a tender will be launched in Argentina for the construction of a new natural […]
GeoPark Withdraws Request For Drilling Permit In Peru
(Reuters, Maria Cervantes, 20.Jun.2019) — GeoPark has withdrawn its request for an environmental permit to begin drilling for crude in the Peruvian Amazon amid protests from indigenous tribes, the oil company said on Thursday. GeoPark said in a statement late on Thursday that it wanted to incorporate more information into […]
Gran Tierra Shuts Production In Putumayo
(Gran Tierra, 19.Jun.2019) — Gran Tierra Energy Inc. announced an operations update regarding activities and results during second quarter 2019 to date. All dollar amounts are in United States (“U.S.”) dollars unless otherwise indicated. Production amounts are unaudited and on an average working interest before royalties (“WI”) basis unless otherwise […]
Frontera Energy Corporation BODs Declares Dividend
(Frontera, 30.May.2019) — Frontera Energy Corporation’s board of directors has declared a dividend of C$0.205 per common share, which will be paid on or about July 17, 2019 to shareholders of record at the close of business on July 3, 2019. The Company’s board of directors has also amended its […]
LatAmNRG Bolivia Briefs: Petrobras Volumes, Investments In Lithium
(Energy Analytics Institute, Ian Silverman, 30.May.2019) — Heard on the street and LatAmNRG briefs related to Brazil’s Petrobras requesting lower natural gas volumes from Bolivia’s YPFB, investments to industrialize Bolivian lithium expected to reach $600 million, and Bolivia’s state oil entity YPFB planning to open a new office in Peru […]
Sempra Energy Reports Higher 1Q:19 Earnings
(Sempra, 7.May.2019) — Sempra Energy today reported first-quarter 2019 earnings of $441 million, or $1.59 per diluted share, up from first-quarter 2018 earnings of $347 million, or $1.33 per diluted share. On an adjusted basis, the company’s first-quarter 2019 earnings increased to $534 million, or $1.92 per diluted share, from […]
Peru Gives Tullow Oil Another Shot At Exploration
(Argus, 1.May.2019) — Peru reapproved a contract for UK-listed Tullow Oil to explore shallow-water block Z-64. This is Tullow’s second chance with the block, nearly a year after its original contract was cancelled. The 54,000-hectare block lies off the northern coastal department of Tumbes, where Canadian independent Frontera Energy operates […]
Enel Américas Files 2018 Annual Report On Form 20-F
(Enel, 29.Apr.2019) — Enel Américas, announced today that its 2018 Annual Report on Form 20-F has been filed with the United States Securities and Exchange Commission on April 26, 2019. Enel Américas is a company engaged in the electricity generation and distribution businesses in Argentina, Brazil, Colombia and Peru. Our […]
LatAmNRG Frontera briefs: Ralph Coffman, NorPeruano, Intracampos bid
HOUSTON, TEXAS (By Piero Stewart, Energy Analytics Institute, 11.Apr.2019, Words: 314) — Heard on the street and LatAmNRG briefs related to Frontera Energy Corporation and its operations in Colombia, Peru, Guyana and Ecuador. Ralph Coffman Expected To Spud Offshore Guyana In 3Q:19 (Frontera, 11.Apr.2019) — Frontera says a definitive rig […]
Frontera Announces 1Q:19 Update On Colombia, Peru, Guyana, and Ecuador
(Frontera, 11.Apr.2019) — Frontera Energy Corporation announces a first quarter 2019 operational update. All values in this news release and the company’s financial disclosures are in United States dollars, unless otherwise noted. Richard Herbert, Chief Executive Officer of Frontera, commented: “2019 is off to a strong start for Frontera, with […]
PetroPerú President Says Final Cost Of Talara Refinery Is $5 Billion
(Energy Analytics Institute, Ian Silverman, 10.Apr.2019) — The inal cost of the Talara refinery in Peru is $5 billion, including $695 million in interest related to the project’s financing, announced PetroPerú’s President Esteban Bertarelli Bustamante in a company video. This compares to an initial cost of around $5.4 billion, when […]
Peru Cuts Gas Reserves, CNPC Block On Hold
(Argus, 10.Apr.2019) — Peru’s natural gas reserves declined after the energy ministry reclassified the potential of Chinese state-owned CNPC’s block 58 from proven/probable reserves to contingent resources. The ministry said the decision was based on the methodology used for the report, which classifies P2 reserves as those that will be […]
Repsol And Petro-Peru Raise Fuel Prices Again In Peru
(Energy Analytics Institute, Ian Silverman, 8.Apr.2019) — Repsol and Petro-Peru released details of their new fuel prices over the weekend. According to the details, fuel oil and gasoline prices rose between 0.6% and 3% per gallon, including taxes, online media El Comercio reported, citing data from Peru’s Consumers and Users […]
LatAmNRG Q&A Series With Refinitiv’s Carl Larry
(Energy Analytics Institute, Ian Silverman, 31.Mar.2019) — As part of Energy Analytics Institute’s ongoing coverage of the Latin America and Caribbean energy sectors from conventionals, unconventionals to renewables, Houston-based Refinitiv Market Development Manager Carl Larry weighs in on Peru LNG and issues it faces from increasing US natural gas volumes […]
GeoPark Limited Awarded Espejo And Perico Blocks In Ecuador
(SeekingAlpha, 18.Mar.2019) — On March 13, 2019, GeoPark Limitedentered the Ecuador upstream by winning the Espejo and Perico blocks in the Oriente Basin in the Intracampos Bid Round (Fig. 1). GeoPark formed a 50:50 consortium with Frontera Energy Corporation in the participation of the bid round. The final award is […]