PANAMA CITY, PANAMA (Editors at Energy Analytics Institute, 10.Mar.2025) — The 27 Feb. 2025 decision by the US to end Chevron Corporation‘s license in Venezuela could result in loss of around 300,000 barrels per day (b/d) by year-end 2025, according to Rystad Energy. That’s about 30% of Venezuela’s production of […]
Category: Venezuela
Venezuela energy
LatAmNRG Heard: US Pressures IOCs in Venezuela, Mexico Pacific Ltd. and Ebrard’s FDI Expectations
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 7.Mar.2025) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week ended 7 Mar. 2025. —Argentina: The divestment of assets by IOCs in Argentina, such as those announced by Norway’s Equinor and the US’ ExxonMobil Corporation, points to […]
Citgo Reports Total 4Q:24 Throughput of 887,000 b/d at its 3 Refineries
ATLANTA, GEORGIA (Chad Archey, Energy Analytics Institute, 6.Mar2025) — Houston-based Citgo Petroleum Corporation — which owns and operates 3 large-scale, highly complex petroleum refineries with a total rated crude oil refining capacity of 807,000 barrels per day (b/d), located in Lake Charles, La., Corpus Christi, Texas and Lemont, Ill — […]
Guyana Turns to Court in Essequibo Region Dispute with Venezuela
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 6.Mar.2025) — Guyana has requested the International Court of Justice (ICJ) indicate provisional measures in the case concerning the Arbitral Award of 3 Oct. 1899, also known as Guyana v. Venezuela. On 6 Mar. 2025, Guyana filed a request in the ICJ […]
COMMENTARY: Time for the US, OPEC, Europe China, Asia and Russia to Negotiate
CARACAS, VENEZUELA (Carlos A. Rossi, Energy Analytics Institute, 5.Mar.2025) — A crucial point behind Europe’s motivation to support Ukraine’s president Volodymyr Zelenski is simply to not be left behind and ignored in any oil derivative deal certain to come out of any peace negotiation between the US and Russia. Europe understands […]
Venezuela Activates Independence Plan After Sanctions Against Chevron
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 4.Mar.2025) — Venezuela’s President Nicolás Maduro ordered activation of the “Absolute Productive Independence Plan” aimed to assist the country maintain its hydrocarbon sector and underlining economic growth. This, after the US Office of Foreign Assets Control (OFAC) issued General License 41 (GL41A) […]
![OFAC Releases GL41A Stipulating Chevron Wind Down in Venezuela [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/04/Screenshot_2020-04-25-Chevron-barred-from-drilling-transporting-oil-in-Venezuela-U-S-official.png){kind=icon}
OFAC Releases GL41A Stipulating Chevron Wind Down in Venezuela [PDF Download]
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 4.Mar.2025) — The Office of Foreign Assets Control (OFAC) issued General License No. 41A on 4 Mar. 2025, authorizing the wind down of certain transactions related to Chevron Corporation‘s joint ventures (JVs) in Venezuela. Chevron has until 3 Apr. 2025 to wind […]
Chevron JVs in Venezuela Producing Around 242,000 b/d or 27% of Venezuela’s Production
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 2.Mar.2025) — 4 Venezuelan joint ventures (JVs) of US-based Chevron Corporation were producing an average 242,000 barrels per day (b/d) in late-Feb. 2025, according to state-owned Petróleos de Venezuela (PDVSA) documents seen by Energy Analytics Institute (EAI). Such production represents 27% of […]
US Treasury Preparing to Take Action Regarding Chevron Venezuela General License 41
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 2.Mar.2025) — The US Treasury Department is preparing to take action to wind-down General License 41 (GL41) and other specific licenses as appropriate as they relate to sanctions on oil and gas companies operating in Venezuela. “We will issue additional guidance to assist […]
Guyana Denounces Venezuelan Incursion in Offshore Field Operated by ExxonMobil
GEORGETOWN, GUYANA (AP, 1.Mar.2025) — Guyana’s President Irfaan Ali on Saturday denounced an incursion by an armed Venezuelan naval vessel in disputed waters that are home to a mammoth offshore oil deposit being developed by ExxonMobil. In a televised address, Ali said Guyana was hurriedly notifying all of its international allies, including the […]
Venezuela’s Delcy Rodríguez Comments on US Sanctions on Chevron Venezuela
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 26.Feb.2025) — Venezuela’s Executive Vice President and Energy Minister Delcy Rodríguez said the idea of renewed sanctions on Chevron Corporation and its 4 joint venture (JV) subsidiaries in Venezuela was a bad decision. “Today, February 26, the government of the United States […]
LatAmNRG Heard: Halliburton Argentina Firings, Equinor’ Vaca Muerta Assets
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 21.Feb.2025) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week ended 21 Feb. 2025. —Argentina: Halliburton said to have fired 300+ workers in Comodoro in Argentina, according to union officials in the South American country. —Argentina: Equinor […]
Venezuela Flared 46% of its 3,895 MMcf/d of Natural Gas Production in 2024
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 21.Feb.2025) — Oil producing Venezuela, a founding member of the Organization of the Petroleum Exporting Countries (OPEC), flared 46% of its natural gas production of 3,895 million cubic feet per day (MMcf/d) in 2024, according to details provided by ChemStrategy. Another 46% […]
PDVSA Returns to Buying Light Oil: Reuters Says
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 20.Feb.2025) — Petróleos de Venezuela S.A. (PDVSA) has reportedly resumed its purchases of light crude oil abroad, according to a Reuters report. This, as the state-owned company’s production of light and medium grade crude oils declines, the news agency reported on 20 […]
Protected: Amos Global Inks SPA to Buy Sinopec’s Gulf of Paria (PetroParia) Interest in Venezuela
There is no excerpt because this is a protected post.
NRGBriefs Jan. 2025: Golden Pass LNG, Chevron CEO on Argentina Growth
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Jan.2025) — Energy briefs as well as others related to finance, economics, politics, and projects during Jan. 2025 including Venezuela Edmundo González Urrutia planning to tour Argentina, Uruguay, Panama, the US, and the Dominican Republic before his proposed return to Venezuela on or […]
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Chevron Starts Several Projects in the Gulf of America [PDF Download]
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Jan.2025) — Chevron Corporation reported earnings of $3.2bn in the fourth-quarter 2024 (4Q:24) compared with $2.3bn in the 4Q:23. Results in the 4Q:24 included severance charges of $715mn and impairment charges of $400mn. Chevron said foreign currency affects increased earnings by $722mn. Chevron […]
LatAm NRG Heard: Mexico 2nd Energy Sector Laws, Drill Baby Drill’s Return
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 17.Jan.2025) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week ended 17 Jan. 2025. —Argentina: The gov’t of president Javier Milei is starting the privatization process for Argentina’s national highways and routes. —Ecuador: Ecuador’s EP PetroEcuador says […]
Chevron Filed Taxes in Venezuela Despite Sanctions, Documents Show
(BLOOMBERG, 16.Jan.2025) — Chevron Corp. filed tax returns worth about $300 million with the Venezuelan government last year, raising questions about how much President Nicolás Maduro is benefiting from the US company’s oil production in spite of sanctions. Chevron filed documents saying its ventures in Venezuela owed 8.1 billion bolivars […]
Protected: Venezuela’s Maduro Says Oil Sector of OPEC Country Grew 14% in 2024
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Ecoanalítica Says Venezuela’s Inflation Stood at 61.5% at YE:24
(Piero Stewart, Energy Analytics Institute, 15.Jan.2025) — Venezuela’s accumulated inflation at the end of 2024 stood at 61.5%, which represented a slowdown compared to 2023 when accumulated inflation was 176.8%, according to Caracas-based Ecoanalítica. “By the end of 2024, accumulated inflation in Venezuela closed at 61.5%, a figure that remained […]
LatAm NRG Heard: US Sanctions PDVSA Head, Milei’s Popularity, BP Shuts Azerbaijan Platform
(Editors at Energy Analytics Institute, 10.Jan.2025) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week ended 10 Jan. 2025. —Argentina: Vaca Muerta oil and gas production continues to rise spurring hopes of continued oil and gas exports and soon year round LNG exports —Argentina: […]
Official Statement: Condemning Nicolás Maduro’s Illegitimate Attempt to Seize Power in Venezuela
(US Department of State, 10.Jan.2025) — US Secretary of State Antony J. Blinken issued a statement regarding the situation in Venezuela, including new actions against Nicolás Maduro and is representatives. Today, Nicolás Maduro held an illegitimate presidential inauguration in Venezuela in a desperate attempt to seize power. The Venezuelan people […]
Official Statement: Multilateral Action Maintains Pressure on Maduro and his Representatives
(US Department of Treasury, 10.Jan.2025) — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning eight Venezuelan officials who lead key economic and security agencies enabling Nicolas Maduro’s repression and subversion of democracy in Venezuela. The individuals sanctioned, pursuant to Executive Order (E.O.) 13692, as […]
Venezuelan Armed Forces to Treat Plane Carrying Edmundo as “a Foreign Force”: Rodríguez Says
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 8.Jan.2025) — Venezuelan soldiers have an order to treat the aircraft that aims to reach Venezuela with Edmundo González Urrutia as “a foreign force that tries to invade an air, maritime or land territory,” the online newspaper El Mundo reported on 8 Jan. […]
LatAm NRG Heard: Keith Rowley Exit, Venture Global IPO
(Editors at Energy Analytics Institute, 3.Jan.2025) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 3 Jan. 2025. —Argentina: Gov’t of president Javier Milei giving full support to Venezuela’s Edmundo González Urrutia as he prepares his return to Venezuela on 10 Jan. 2025 after a […]
![EAI 4Q24 NRG Prospector [Complimentary PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2025/03/EAI-4Q24-NRGProspector_h.png)
EAI 4Q24 NRG Prospector [Complimentary PDF Download]
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 1.Jan.2025) — Download the 4Q:24 NRG Prospector eMagazine with updates, analysis, features, briefs and “heard on the street” from Argentina, Brazil, Bolivia, Canada, Chile, Colombia, Ecuador, Guyana, Mexico, Suriname, Trinidad and Tobago, the US and Venezuela, as well as Asia, Europe and Africa […]
Citgo Bidding Opened to Others to Try to Top Elliott Firm
(Jef Feeley, Nicolle Yapur and Andreina Itriago Acosta, Bloomberg, 31.Dec.2024) — A US judge reset the bidding process for the parent company of Citgo Petroleum Corp. late Tuesday, a move that is poised to create competition for Elliott Investment Management’s pursuit of the oil refiner. Judge Leonard Stark ordered the […]
Ad Hoc Administrative Board of PDVSA Reaffirms Commitment to Safeguard Citgo
(Piero Stewart, Energy Analytics Institute, 30.Dec.2024) — The Ad Hoc Administrative Board of PDVSA reiterated its commitment to the defense of Venezuela’s assets abroad, especially PDVSA’s 807,000 barrel per day (b/d) US refining affiliate Citgo Petroleum Corporation. Horario Medina, the president of Ad Hoc Administrative Board of PDVSA, said 27 […]
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EAI Andean NRG Dashboard 4Q:24 [PDF Download]
(Energy Analytics Institute, 28.Dec.2024) — Energy Analytics Institute‘s Andean NRG Dashboard 4Q:24 with upstream, downstream, midstream, LNG, renewable, new energies and other updates from Colombia, Ecuador, Guyana, Peru, Suriname, Venezuela, Trinidad and Tobago and the Caribbean. ____________________ By Editors at Energy Analytics Institute. © Energy Analytics Institute (EAI). All Rights […]
LatAm NRG Heard: Energía Argentina and Transener, Tula and Salina Cruz Refineries
(Energy Analytics Institute, 27.Dec.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 27 Dec. 2024. —Argentina: Energía Argentina SA initiated a process to divest its shrs in Transener, Argentina’s main energy transport co. The decision is in line w/ the gov’t of president Javier […]
Maduro Says Investment of up to $52bn Procured from BRICS, Others
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 27.Dec.2024) — Venezuela’s president Nicolás Maduro assured that his Caribbean country has procured investments of up to $52bn over 2 years. The supposed investment will come from BRICS member countries — Brazil, Russia, India, China and South Africa — as well as other […]
LatAm NRG Heard: Argentina’s GDP, Chevron Venezuela, Plan Mexico
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 20.Dec.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 20 Dec. 2024. —Argentina: Argentina’s gross domestic product (GDP) rose 3.9% in the 3Q:24 v the 2Q:24, according to the Ministry of Economy. —Mexico: Mexico’s Plan Mexico will […]
LatAm NRG Heard: Milei’s Popularity, ECA’s early-2026 Start-up, Saguaro Energía
HOUSTON, TEXAS (Energy Analytics Institute, 13.Dec.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 13 Dec. 2024. —Argentina: Argentina’s president Javier Milei maintains strong popularity 1 yr into his presidency as the Argentine peso has appreciated, inflation has fallen and foreign/domestic investors in the […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 6 Dec. 2024
(Energy Analytics Institute, 6.Dec.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 6 Dec. 2024. —Argentina: The Minister of Energy of Neuquén met w/ large oil cos. to advance the infrastructure agenda for the Vaca Muerta shale formation as the province seeks to accelerate […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 29 Nov. 2024
(Energy Analytics Institute, 29.Nov.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 29 Nov. 2024. —Argentina: YPF has put Metrogas up on the auction blk, various local media outlets in Argentina report. —Argentina: YPF plans to merge its Argentina LNG project w/ rival’s venture, […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 22 Nov. 2024
(Energy Analytics Institute, 22.Nov.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 22 Nov. 2024. LATIN AMERICA AND THE CARIBBEAN —Argentina: In Oct. 2024, Argentina exported $817mn in fuel and energy, accumulating $7,995mn in the first 10 mths of 2024. —Argentina: In Oct. 2024, […]
Citgo Petroleum Reports 3Q:24 Results
(Citgo, 14.Nov.2024) — Citgo Petroleum Corporation reported its 2024 third quarter financial and operational results. High throughput volume contributed to a third quarter net income of $66mn, EBITDA (1) of $281mn, and Adjusted EBITDA of $290mn compared with a net loss of $25mn, EBITDA of $162mn and Adjusted EBITDA of […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 1.Nov.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 1 Nov. 2024. —Argentina: Citigroup downgraded Pampa Energia to neutral from buy, adjusted its price target to $75/shr v $58/shr; Citigroup also upgraded YPF to buy from neutral, adjusted its price target […]
Mark the Date: 3rd Caracas Gas Forum 2024 Set for 7 Nov.
(Energy Analytics Institute, 30.Oct.2024) — Participate in the third edition of the Caracas Gas Forum 2024, which will focus on promoting decarbonization and security of regional supply. ____________________ By Editors at Energy Analytics Institute. More online at www.Energy-Analytics-Institute.org NOTE: Energy Analytics Institute (EAI) is an official media partner for the […]
Venezuela’s Energy Minister Delcy Rodríguez Talks Energy in Stop in New Delhi
(Energy Analytics Institute, 25.Oct.2024) — Venezuela’s Executive Vice President Delcy Rodríguez held a meeting with her Indian counterpart Jagdeep Dhankhar in New Delhi, India to evaluate the participation of the giant Asian country in the development and establishment of new joint projects in Venezuela. During her visit, Rodríguez said future […]
Maduro Proposes New Economy at BRICS Plus Summit
(Energy Analytics Institute, 23.Oct.2024) — During the plenary session of the XVI BRICS Plus Summit held in the Russian city of Kazan, Venezuela’s President Nicolás Maduro Moros emphasized the need for a new economic agenda with what he called practical solutions to the issues of international trade and monetary exchange. […]
Maduro and Putin Discuss Strategic Alliances during BRICS Summit
(Energy Analytics Institute, 23.Oct.2024) — Venezuela’s President Nicolás Maduro held at least one meeting with his Russian counterpart Vladimir Putin within the framework of the XVI BRICS summit, taking place in Kazan, Russia. Discussions between the two leaders revolved around strategic relations between Caracas and Moscow and efforts to continue […]
Venezuela Arrests Former Oil Minister Tellechea
(Reuters, 21.Oct.2024) — Venezuelan authorities have arrested former industry and oil minister Pedro Tellechea, Attorney General Tarek Saab said on Monday, the latest high-profile detention connected to management of Venezuela’s sanctioned oil industry. In a statement on Instagram, Saab said Tellechea had been arrested in the early hours of Sunday […]
FACT SHEET: Citgo’s US Refineries, Terminals, Pipelines
(Energy Analytics Institute, 18.Oct.2024) — Citgo Petroleum Corp. has 3 strategically located, deep conversion refineries in Texas, Louisiana and Illinois. Combined, these 3 refineries have a combined total refining capacity of approximately 807,000 b/d. Each refinery has the capability to process large volumes of heavy crude oil into a varied […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 18.Oct.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 18 Oct. 2024. —Brazil: TotalEnergies will divest its fuel distribution activities in Brazil to the Brazilian co. SIM Distribuidora, the French co. said. —Cuba: Cuba’s electric co. La Unión Eléctrica, confirmed that […]
Amber Energy CEO Resigns from Exxon’s BODs
(Energy Analytics Institute, 17.Oct.2024) — Amber Energy CEO Gregory J. Goff resigned as a member of the board of directors of Exxon Mobil Corporation to pursue other business opportunities. Exxon revealed the details in an 17 Oct. 2024 Form 8-K filing with the U.S. Securities & Exchange Commission (SEC). ____________________ […]
Preliminary Work on Dragon Gas Project Begins
PORT OF SPAIN, TRINIDAD AND TOBAGO (MEEI, 14.Oct.2024) — On 11 Oct. 2024, Trinidad and Tobago’s Prime Minister Keith C. Rowley and Ministry of Energy and Energy Industries (MEEI) head Stuart R. Young, along with representatives from Shell and the National Gas Company (NGC) visited the Dona Jose 2 vessel […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 11.Oct.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 11 Oct. 2024. —Argentina: YPF S.A. continues to search the world over for potential partners to enter into the Argentina LNG project to be domiciled in Punta Colorada, execs. w/ the state […]
Citgo Auction in Jeopardy as Bondholders Pursue Claims
(Reuters, 9.Oct.2024) — Holders of billions of dollars in Venezuelan bonds and notes have emerged as last-minute protagonists in a U.S. court case set to decide the ownership of oil refiner Citgo Petroleum, threatening to derail an auction to compensate more than a dozen companies for unpaid debts and expropriations […]
Ecopetrol Says Importation of Venezuela Gas Viable
(Energy Analytics Institute, 4.Oct.2024) — Ecopetrol SA president Ricardo Roa has analyzed the natural gas deficit in Colombia and stressed that the reactivation of Venezuelan gas imports could be a feasible solution, as long as Repsol SA provides the supply. During the VII Oil, Gas and Energy Summit, Roa mentioned […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 4.Oct.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian energy giant Petronas, which has generated a ton of noise in recent wks about its rumored departure from Argentina LNG, a massive 30 mtpa export […]
Idea of Colombia Importing Gas from Venezuela ‘Big Distraction,’ Ex-minister Says
(Reuters, 2.Oct.2024) — Debate in Colombia over the possibility of importing gas from Venezuela “has been a big distraction” amid concerns about Colombia’s future energy self sufficiency, former minister of mines and energy Tomas Gonzalez said on Wednesday. Colombia’s government and majority state-owned energy company Ecopetrol have repeatedly floated importing […]
Citgo Share Auction Creditors Oppose Terms of Amber Energy Bid
(Reuters, 1.Oct.2024) — Creditors seeking proceeds from an auction of shares in a parent of Citgo Petroleum to repay them for Venezuela’s expropriations and debt defaults on Tuesday widely criticized terms of a conditional offer selected in the U.S. court’s second bidding round. An Elliott Investment Management affiliate on Friday was named […]
Exxon Director Joins Elliott Seeking to Acquire Citgo Petroleum
(Reuters, 28.Sep.2024) — Exxon Mobil board director Gregory Goff recently joined a newly formed Elliott Investment Management-backed company seeking to acquire control of Venezuela-owned oil refiner Citgo Petroleum. Citgo and Exxon are rivals in the motor fuels and lubrications business. Exxon is the third-largest U.S. oil refiner by capacity and […]
ConocoPhillips Gets Judge to Approve Seizing of Payments to PDVSA
(Reuters, 27.Sep.2024) — ConocoPhillips on Friday got a Trinidad court to approve the seizing of payments from the Caribbean country to Venezuela’s state oil company for a proposed offshore gas project between the two neighbors. ConocoPhillips has for years been seeking to recover money from Petroleos de Venezuela (PDVSA) for […]
Amber Energy Selected to Acquire Citgo
(Amber Energy, 27.Sep.2024) — Amber Energy Inc. has been selected as the acquirer of PDV Holding, Inc., the parent of Citgo Petroleum Corporation, by Robert Pincus, the Special Master appointed by the U.S. District Court for the District of Delaware to oversee the sale of PDV Holding, Inc. Amber Energy is […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 27.Sep.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 27 Sep. 2024. —Argentina: Petronas is rumored to be pondering stepping back from Argentina LNG, the South American country’s initial LNG export project, leaving YPF alone to search for partners. —Brazil: Petrobras […]
FTC Set to Greenlight Chevron’s $53bn Buy of Hess
(Reuters, 24.Sep.2024) — The U.S. Federal Trade Commission is expected to greenlight U.S. oil producer Chevron‘s purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil‘s challenge to the $53 billion deal as its final hurdle. The proposed merger was first announced […]
US Court Officer Moves to Block Creditors from Derailing Citgo Auction
(Reuters, 9.Sep.2024) — U.S. federal court officer overseeing an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum on Monday asked the judge in the case to prevent creditors from pursuing additional lawsuits that could derail the sales process. Three creditors that had registered claims with the court but are unlikely to […]
Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman Extend Cuts
(Opec, 5.Sep.2024) — The OPEC+ countries, which previously announced additional voluntary cuts in Apr. and Nov. 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on 5 Sep. 2024, during which the eight member countries emphasized their collective resolve to […]
A Month After Venezuela’s Contested Election, the Opposition Fights On
(The Washington Post, 27.Aug.2024) — A month ago, Venezuela’s opposition nurtured a cautious hope. A national election seemed to present a genuine chance to oust the entrenched autocratic regime of President Nicolás Maduro. Even as Maduro and his allies stacked the odds against their opponents, disqualifying top candidates and wielding the […]
Chevron Reports 2Q:24 Earnings, to Move HQ to Houston
(Chevron, 2.Aug.2024) — Chevron Corporation reported earnings of $4.4bn ($2.43 per share – diluted) for second quarter 2024, compared with $6bn ($3.20 per share – diluted) in second quarter 2023. Foreign currency effects decreased earnings by $243mn. Adjusted earnings of $4.7bn ($2.55 per share – diluted) in second quarter 2024 compared […]
Election Results in Venezuela, Possible Routes Forward
(Rystad, 29.Jul.2024) —While the election in Venezuela may be over, the future is still not certain. There was a forgone conclusion that the incumbent government of President Nicolas Maduro may try to perpetrate some sort of electoral fraud to maintain power, and it certainly seems as though that has been […]
Polls Open in Venezuelan Election That Could Lead to Seismic Shift
(AP, 27.Jul.2024) — Venezuelans are voting Sunday in a presidential election whose outcome will either lead to a seismic shift in politics or extend by six more years the policies that caused the world’s worst peacetime economic collapse. Whether it is President Nicolás Maduro who is chosen, or his main opponent, retired […]
Repsol Reveals New Share Buyback, Updates on Venezuela
(Repsol, 26.Jul.2024) — Repsol posted net income of €1.626bn in the first half of 2024, up 14.5%, a period marked by the presentation and implementation of the 2024-2027 Strategic Update, which prioritizes shareholder remuneration and continuing financial strength, and consolidates the company’s multi-energy commitment. Repsol announced today a new share buyback and […]
Scientists: Epoch Marked by human impact — the Anthropocene — Began in 1950s
(AP, 11.Jul.2024) — From climate change to species loss and pollution, humans have etched their impact on the Earth with such strength and permanence since the middle of the 20th century that a special team of scientists says a new geologic epoch began then. Called the Anthropocene — and derived […]
Energy Chamber Welcomes Manatee FID
(Energy Chamber, 9.Jul.2024) — The Energy Chamber of Trinidad & Tobago warmly welcomes the news that the final investment decision (FID) has been taken by Shell for the development of the Manatee field. This is a very significant development for Trinidad & Tobago and will help create stability for the country’s […]
Shell Takes FID at Manatee in Trinidad
(Shell, 9.Jul.2024) — Shell Trinidad and Tobago Ltd., a subsidiary of Shell plc, announced that it has taken Final Investment Decision (FID) on the Manatee project, an undeveloped gas field in the East Coast Marine Area (ECMA) in Trinidad and Tobago. Manatee will allow Shell to competitively grow its Integrated […]
Black & Veatch Delivers Feasibility Study for Andes Energy LNG Terminal
(Black & Veatch, 7.Jun.2024) — Global liquefied natural gas (LNG) infrastructure solutions leader Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, LNG regasification terminal and power plant. The study assessed site suitability, project design requirements, capital and operating costs, financial viability, financing options, climate resilience, […]
Up to 50 Firms Seek U.S. Oil Licenses in Venezuela, Official Says
(Reuters, 23.May.2024) — The U.S. has received up to 50 requests for individual licenses from companies aiming to do business in Venezuela’s oil industry, following the expiration of a general authorization granted last year to the sector, the chief of the U.S. mission for Venezuela said late on Wednesday. The U.S. Treasury Department in mid-April […]
Poland Hunts for $330mn of Orlen Payments for Venezuela Oil
(Reuters, 14.May.2024) — A Swiss unit of Polish refiner Orlen paid two Dubai-based intermediary companies $330 million for Venezuelan oil, but Venezuela’s state oil company PDVSA never received the money, according to sources and a document seen by Reuters. Prosecutors in Poland are investigating the loss of about $400 million […]
Citgo Petroleum Reports 1Q:24 Results
(Citgo, 9.May.2024) — Citgo Petroleum Corporation reported its 2024 first quarter financial and operational results. Historically favorable refining margins and strong asset reliability led to first quarter net income of $410mn, EBITDA of $709mn and Adjusted EBITDA of $677mn, compared with net income of $937mn and EBITDA of approximately $1.4bn(2) for the first quarter of 2023. (1) EBITDA […]
LNG Energy Group on Results, Venezuela
(LNG Group, 30.Apr.2024) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) announced its financial and operating results for the year ended on 31 Dec. 2023. On 15 Aug. (the “Closing Date”), LNG Energy Group completed the acquisition of Lewis Energy Colombia, Inc. and the financial and […]
EAI’s NRGBriefs: April 2024
(Energy Analytics Institute, 30.Apr.2024) — Energy briefs as well as others related to finance and projects during April 2024 including ExxonMobil, Hess and CNOOC announcing a $12.7bn FID for their sixth project offshore Guyana dubbed Whiptail; YPF SA launching the “Andes” project to divest 55 mature conventional fields and focus […]