(Energy Analytics Institute, Piero Stewart, 10.Sep.2018) — The proposed Law for the Promotion of the Hydrocarbons Industry, which will be debated shortly by Congress, is “favorable” for the country’s oil sector, announced Peru-Petro President Seferino Yesquén. The official, speaking during an interview with Andina, said the law is “favorable” because […]
Category: Peru
Peru energy
Frontera Receives Global Compact Awards from UN
(Frontera Energy Corporation, 7.Sep.2018) — Frontera Energy Corporation has been named a Canadian Sustainable Development Goals award winner for the second consecutive year by the Global Compact Network Canada, the Canadian network of the United Nations Global Compact. Frontera was awarded the SDG Leadership Award in the large organizations category, […]
Peru Approaching Lithium Discovery Announcement with Caution
(Efe, 6.Sep.2018) — Peru’s government is exercising caution after mining company Macusani Yellowcake announced in July that it had discovered the world’s largest lithium deposit, the energy and mines minister said Thursday. The company, a unit of Canada’s Plateau Energy Metals, estimated that the deposit in Peru’s Altiplano region holds […]
Peru Approaching Lithium Discovery with Caution
(Efe, 6.Sep.2018) — Peru’s government is exercising caution after mining company Macusani Yellowcake announced in July that it had discovered the world’s largest lithium deposit, the energy and mines minister said Thursday. The company, a unit of Canada’s Plateau Energy Metals, estimated that the deposit in Peru’s Altiplano region holds […]
PetroTal Conducting Test at Bretaña Oil Field in Peru
(PetroTal Corp., 25.Aug.2018) — The company placed the Bretaña oil field online at approximately 1,000 b/d during the initial testing and commissioning phase. To date, the well has accumulated approximately 40,000 barrels with no sign of water produced from the aquifer. The oil is being sold at the local Iquitos […]
PetroTal Reports 2Q:18 Financial Results
(PetroTal Corp., 23.Aug.2018) — PetroTal Corp. provided a summary of its financial and operating results as of June 30, 2018. Selected financial and operational information is outlined below and should be read in conjunction with the company’s unaudited consolidated financial statements, and management’s discussion and analysis (MD&A) for the quarter […]
Frontera to Plug, Abandon Delfin Sur-1 Exploration Well
(Energy Analytics Institute, Jared Yamin, 18.Aug.2018) – Frontera Energy Corporation declared the Delfin Sur-1 exploration well offshore Peru non-commmercial. On August 12, 2018, the company completed drilling the well, located on the Z-1 block offshore. The well was drilled to a total measured depth of 7,228 feet in the Heath […]
Guyana to Become 5th Largest Oil Producer in LAC Region
(Energy Analytics Institute, Piero Stewart, 15.Aug.2018) – If all goes off as planned, by 2025, Guyana will be the 5th largest oil producer in the Latin American and Caribbean region. That’s according to an analysis of data posted by Trading Economics, and extrapolation of estimates of Guyana’s future oil production, […]
Mexico’s CNH to Speak at EnerCom Conference
(Energy Analytics Institute, Jared Yamin, 9.Aug2018) – The 23rd annual EnerCom conference will take place in the Denver Downtown Westin Hotel on Aug. 19-22, 2018. Companies with exposure to Latin America that will participate in special panels during the event include the following: Oil & Gas in Mexico Panel — […]
Frontera Announces Second Quarter 2018 Results
(Frontera Energy Corporation, 3.Aug.2018) – Frontera Energy Corporation released its Interim Condensed Consolidated Financial Statements for the second quarter of 2018, 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:18 Conference Call
(Frontera Energy Corporation, 3.Aug.2018) – Frontera Energy Corporation scheduled a conference call for investors and analysts for 3 August 2018 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, David Dyck, […]
Plateau Energy Peru Unit Finds Lithium Resources
(Reuters, 16.Jul.2018) – Canadian miner Plateau Energy Metals Inc’s Peru unit Macusani Yellowcake S.A.C. said on Monday it has found 2.5 million tonnes of high-grade lithium resources and 124 million pounds of uranium resources in its Falchani hard rock deposit in the region Puno. Ulises Solis, general manager of the […]
FDI in LAC Region Falls for Third Straight Year
(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – Foreign Direct Investment (FDI) in Latin America and the Caribbean fell for a third straight year in 2017, reported the Economic Commission for Latin America and the Caribbean or CEPAL by its Spanish acronym. The details were revealed in CEPAL’s annual report titled […]
Frontera Ends Pacific Midstream Sale Agreement
(Frontera Energy Corporation, 9.Jul.2018) – Frontera Energy Corporation announced that, effective July 6, 2018, it has terminated its agreement to purchase 36.36% of Pacific Midstream Limited (PML). Frontera elected to terminate its share sale agreement with the International Finance Corporation (IFC) and related funds to purchase the IFC’s 36.36% stake […]
Frontera’s Intent to Implement Course Issuer Bid
(Frontera Energy Corporation, 9.Jul.2018) – Frontera Energy Corporation intends to implement a normal course issuer bid (NCIB) for its common shares. The NCIB will be made in accordance with the policies of the Toronto Stock Exchange (TSX) and the commencement of purchases under the NCIB is subject to approval of […]
Role of Peru’s Hydrocarbon Industry on Development
(Energy Analytics Institute, Ian Silverman, 9.Jul.2018) – PeruPetro will host a conference titled “Role of the Petroleum and Gas Industry for Peru’s Economic Development.” Details follow: When: 7 July 2018 Where: Talara, Peru Venue: Javier Pérez de Cuellar Auditorium (2nd floor of Municipal Library) Contact: PeruPetro ***
PetroTal Reports First Oil from Bretana
(PetroTal Corp., 3.Jul.2018) – PetroTal Corp. achieved first oil production from the Bretana Norte discovery well at the Bretana field in Block 95 in Peru. The company also provided further operations updates for both Bretana and Block 107. All figures referred to in this press release are denominated in U.S. […]
Frontera to Spud Delfin Sur-1 Offshore Peru
(Energy Analytics Institute, Ian Silverman, 30.Jun.2018) – Canada’s Frontera Energy Corporation announced commencement of mobilization of the Petrex-10 drilling offshore Peru. Drilling of the Delfin Sur-1 exploration well is expected to begin in July 2018, the company announced in an official statement. ***
Frontera Closes $350 Mln Notes Offering
(Energy Analytics Institute, Ian Silverman, 25.Jun.2018) – The Canadian company plans to use majority of proceeds to repurchase notes due in 2021. Frontera Energy Corporation completed the offering of $350 million in senior unsecured notes due 2023 at a coupon rate of 9.70% pursuant to Rule 144A and Regulation S […]
Frontera Prices $350 Mln Notes at 9.7%
(Energy Analytics Institute, Piero Stewart 22.Jun.2018) – Canada’s Frontera Energy Corporation successfully priced an offering of $350 million. The offering was comprised of senior unsecured notes due 2023 at a coupon rate of 9.70% pursuant to Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended, […]
Frontera Announces Details Of Share Split
(Energy Analytics Institute, Ian Silverman, 12.Jun.2018) – The offer will consist of a two-for-one share split of the company’s issued and outstanding common shares. The record date of the Share Split will be June 21, 2018 at the close of business, announced Frontera Energy Corporation in an official statement. The […]
Force Majeure Affects NorPeruano Pipeline
(Energy Analytics Institute, Ian Silverman, 3.Jun.2018) – Canada’s Frontera Energy Corporation announced it was notified by Petroperu S.A. of a force majeure event affecting a portion of the NorPeruano pipeline following the identification of oil traces in the Pastaza River, an area outside Block 192. Force majeure will begin on […]
China Looks to Invest $10 Billion in Peru Over 3 Years
(Energy Analytics Institute, Piero Stewart, 1.Jun.2018) — China plans investments of $10 billion across various sectors in Peru over the next three years. The Asian giant is planning to focus investments on sectors including energy, mines, telecommunications, construction and finance, reported the daily newspaper El Comercio, citing China’s Ambassador to […]
Fact Sheet: Peru LNG
(Shell, 1.Jun.2018) — Peru LNG is the first natural gas liquefaction plant in South America and began operations in 2010 with a 4.45 mtpa capacity. It receives dry gas through a 408km pipeline that stretches from the highlands in the Peruvian Andes to the coast. Shell acquired 20% equity in […]
Energy, Education, and Learning Through NRG ED
(Energy Analytics Institute, Aaron Simonsky, 24.May.2018) – Energy Analytics Institute, formerly LatinPetroleum Inc., continues to promote its “Energy Education Initiative” in the Americas, also known as “NRG ED.” NRG ED is structured to work with K-12 schools, community colleges, four-year colleges and universities, workforce training programs, communities and businesses, and […]
Peru President Cancels Tullow’s Offshore Oil Contracts
(Reuters, Marco Aquino & Mitra Taj, 23.May.2018) — The government of Peruvian President Martin Vizcarra canceled his predecessor’s decision to award five offshore oil contracts to London-based Tullow Oil PLC shortly before resigning, citing insufficient consultations with coastal residents. The reversal, which was published in the official gazette on Wednesday, […]
Vizcarra Says Peru to Review Contracts, Including Tullow’s
(Energy Analytics Institute, Jared Yamin, 4.May.2018) – Peru’s President Martin Vizcarra announced his government plans to review all petroleum exploration contracts awarded in the country. His comments come as artisan fishermen in northern Peru continue to protest decrees that authorized Perupetro to award five petroleum lots, also known as ‘lotes’ […]
ECLAC Ssays Venezuela’s Economic Activity to Fall 8.5% in 2018
(Energy Analytics Institute, Aaron Simonsky, 1.May.2018) – The United Nations Economic Commission for Latin America and the Caribbean, also known as ECLAC or CEPAL by its Spanish acronym, projects economic activity in troubled Venezuela will contract 8.5% in 2018. Gross domestic product or (GDP) estimates for other important countries and […]
Frontera Energy to Double Investment in Colombia, Peru
(Reuters, 2.Apr.2018) – Canada’s Frontera Energy Corp named a new chief executive on Monday, and said it plans to more than double its investment in operations in Colombia and Peru during 2018, to up to $500 million. Frontera will direct between $225 million and $240 million of investment to new […]
Repsol Starts Gas Production at the Sagari Field in Peru
(Repsol, 27.Dec.2017) – Repsol has begun gas production from the Sagari field, located in block 57 in the Cusco region of Peru, reinforcing the company´s gas output drive in its reserves development strategy. The start of production at Sagari will lead to a 25% increase in the block’s total output. […]
Baron Oil On Decision To Relinquish Peru Block Z-34
(Baron Oil plc, 10.Nov.2017) — Baron Oil PLC announces that at an Operating Committee Meeting in Lima on 9 November 2017 those parties entitled to vote made a unanimous decision to relinquish Block Z-34, offshore Peru, and so notify Perupetro. The Block has been in Force Majeure since 2014 and […]
Anadarko To Invest $200mn In Peruvian Oil Area
(Reuters, 9.Oct.2017) — U.S.-based Anadarko Petroleum will invest some $200 million to develop an offshore oil area near Peru’s northern coast, Peruvian President Pedro Pablo Kuczynski said on Monday. Kuczynski and company executives signed three exploration and drilling agreements with state oil agency Perupetro in blocks Z-61, Z-62 and Z-63 […]
Baron Provides Update On Block Z-34 Peru
(Baron Oil plc, 6.Feb.2017) — The Board of Baron Oil plc provided an update on activities in Peru on Block Z-34 Following preparation and presentation of a detailed drilling plan in Lima, the company is pleased to announce that Cuy-Z34-13-1X has now been accepted by PeruPetro, the responsible government agency, […]
GeoPark’s Morona Block Approval in Peru
(GeoPark Limited, 1.Dec.2016) – GeoPark Limited obtained final regulatory approval for its acquisition of the Morona Block in Peru. In its first project returning to the upstream business, the Peruvian state-owned company Petróleos del Perú S.A. (Petroperu) awarded a 75% working interest (“WI”) in and operatorship of the Morona Block […]
Peru’s Large Oil Block Woes
(Maria Luisa Puig, Eurasia, 14.Sept.2015) – Indigenous groups occupied the installations of block 192, the largest oil field in the Amazon jungle, to force the government to listen to their economic and environmental demands. The Humala administration announced in Aug.2015 a 2-year contract with Canadian Pacific Exploration and Production (previously […]
PetroPerú to Skip Contracts for Lotes III and IV
(Energy Analytics Institute, Layla Benitez-James, 1.Apr.2015) – Petroperú will not participate in the licenses contracts for the exploitation of hydrocarbons in Lotes III and IV. The company decided not to participate in the contracts since the minimum investment demanded by the partner Graña y Montero was 30%, reported the daily […]
BPZ Repayment of Convertible Bond Principal
(BPZ Resources, Inc., 2.Mar.2015) – BPZ Resources, Inc. announced it will exercise a provision under the bond indenture for the 6.5% Convertible Notes due March 1, 2015. The bond has an outstanding principal amount of $60 million, whereby the company will avail itself of the 10-day grace period provided for […]
Gran Tierra Announces YE:14 Reserves
(Gran Tierra Energy Inc., 2 Feb.2015) – Gran Tierra Energy Inc. announced the results of an independent reserve evaluation of the company’s reserves by Gran Tierra Energy’s qualified reserve evaluator GLJ Petroleum Consultants Ltd. (GLJ) effective December 31, 2014. Through continued strong reservoir management and appraisal drilling in Colombia and […]
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 and all referenced well production in this release. The A-27D well was drilled to a total measured depth of approximately […]
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 above the oil-water contact in the Vivian Sandstone Reservoir. This oil column is less than what was estimated by Gran […]
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 many sources have been withheld to protect their identities and family members in Venezuela. COMBUSTIBLES A number of gasoline stations […]
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 the gas pipeline to increase its capacity by 50%, reported the daily newspaper El Comercio. Upon completion, the gas compression […]
Report Evaluates Economic Benefits Of Camisea Project
(IDB, 29.Oct.2007) — The Camisea natural gas project has transformed Peru, reducing energy costs, increasing national revenue and spurring economic growth, according to a study released by Apoyo Consultoría , one of Peru’s leading economic consulting firms. The firm said in a study commissioned by the IDB that the project […]