(Energy Analytics Institute, 6.Mar.2022) — Energy briefs including Colombia’s state owned Ecopetrol aims to boost combined oil and gas production to 730 Mboe/d in 2024 and between 800-850 Mboe/d in 2030; Venezuela producing 791.8 Mb/d in mid-January 2022; and Venezuela being the lone country in the Latin America and the […]
Category: Venezuela
Venezuela energy
US Officials Hold Venezuela Meetings Amid Hunt for Alternative Oil Supplies
(Ft.com, 6.Mar.2022) — A high-level US delegation has met top government officials in Venezuela, as the world seeks alternative suppliers to replace Russian oil if western sanctions on Moscow are tightened after its invasion of Ukraine. Juan González, the top White House official on Latin America, was in Caracas on […]
US, Venezuela Discuss Easing Sanctions, Make Little Progress: Sources
(Reuters, 6.Mar.2022) — U.S. and Venezuelan officials discussed the possibility of easing oil sanctions on Venezuela but made scant progress toward a deal in their first high-level bilateral talks in years, five sources familiar with the matter said, as Washington seeks to separate Russia from one of its key allies. […]
Maduro: Venezuela Ready to Provide Oil Stability to World
(Telesur, 4.Mar.2022) — Oil prices have risen this week due to supply concerns amid international sanctions directed at Russia for its military operation in Ukraine. Venezuelan President Nicolás Maduro announced during a speech at the II Workers’ Congress his country’s readiness to provide oil and gas stability to the entire world. “The […]
![NRGBriefs: CARICOM and SICA Unite at Belize Summit [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2022/03/caricom-sica-source-caricom-energy-analytics-institute-scaled.jpg)
NRGBriefs: CARICOM and SICA Unite at Belize Summit [PDF Downloads]
(Energy Analytics Institute, 4.Mar.2022) — Energy briefs including Argentina’s state-owned entity YPF reporting a major reduction in gross debt; officials from CARICOM and SICA coming together at a summit in San Pedro, Belize; Gustavo Petro continuing to lead in a new election poll compiled by Colombia Opina#10 and Invamer; Guyana […]
Venezuela Claims $80/bbl for its Crude
(Argus, 4.Mar.2022) — The Venezuelan oil ministry publicly reported the price it received for its crude for the first time in nearly two years this week, but observers say the price is significantly inflated. The government claimed it received more than $80/bl for crude during the week ended 4 March, […]
NRGBriefs: YPF’s 4Q:21 and FY:21 Webcast; Citgo Sales Process Moving Forward
(Energy Analytics Institute, 2.Mar.2022) — Energy briefs including Frontera spudding its first exploration well in the Espejo Block in Ecuador; Argentina’s YPF holding its 4Q:21 and FY:21 webcast to discuss financial and operational results; Exxon updating on its operations offshore Guyana during its virtual Investor Day 2022 webcast [PDF download]; […]
NRGBriefs: Venezuela’s Nicolás Maduro Chats with Russia’s Vladimir Putin
(Energy Analytics Institute, 1.Mar.2022) — Energy briefs including Venezuela’s President Nicolás Maduro chatting over the telephone with his Russian counterpart Vladimir Putin; Invenergy naming Mary King as Executive VP People & Culture; AmCham Guyana hosts a local content forum; PEMEX reporting a rise in oil and condensate production in 2021 vs […]
Venezuela Assigns Oil to ONGC, Maurel & Prom as They Seek US Approval
(Reuters, 1.Mar.2022) — Venezuela’s state-run oil company PDVSA has agreed to allocate cargoes to producers ONGC from India and Maurel & Prom from France to settle debts, but the deals await U.S. authorizations, two people close to the discussions said. PDVSA in recent months assigned a 2 million-barrel cargo of […]
How the War in Ukraine Could Empower Maduro
(Foreign Policy, 25.Feb.2022) — The highlights this week: how the war in Ukraine could prolong Venezuela’s political crisis, Colombia decriminalizes abortion, and a Mexican marathoner completes a cross-country journey. When Anti-Imperialism Meets Noninterference In the weeks before Russia began its large-scale invasion of Ukraine this Thursday, two Latin American presidents, Jair Bolsonaro of Brazil and Alberto Fernández of […]
NRGBriefs: YPF conf. call; Venezuela’s Maduro advocates for peace in Ukraine conflict
HOUSTON, TEXAS (Energy Analytics Institute, 24.Feb.2022) — Energy briefs including Argentina’s state oil entity YPF revealing details of 4Q:21 and YE:21 results conference call on 4 Mar. 2022; Ecopetrol S.A. releasing details related to amendments to its bylaws to be submitted for consideration at the general shareholders’ meeting slated for […]
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NRGBriefs: Trinidad’s Future Depends on Venezuelan Gas [PDF Downloads]
(Energy Analytics Institute, 23.Feb.2022) — Energy briefs including Argentina looking to import 65 LNG cargoes in 2022 compared to 56 in 2021; Trinidad and Tobago’s reemergence over the short-term as a dominant LNG exporter will depend heavily on its ability to tap into Venezuelan offshore gas; Nucor Corp. (NYSE: NUE) revealing […]
NRGBriefs: TotalEnergies and APA Corp. Report Suriname Find
(Energy Analytics Institute, 21.Feb.2022) — Energy briefs including TotalEnergies and APA Corp. reporting another significant find offshore Suriname in Block 58; APA Corp. announcing 4Q:21 financial results and planning a conference call to discuss the results; US sanctions on Russia and its ties with Venezuela; PDVSA President AsdrĂşbal Chávez travelling […]
How China Beat Out the US to Dominate South America
(Bloomberg, 17.Feb.2022) — In the hinterland of Argentina, Mario Pizarro’s office looks like a shrine to China. There’s the framed photo of a Chinese peasant with Pizarro’s face superimposed beneath the conical farmer hat. There’s the blue-robed smiling Buddha statue. And there’s the model wind turbine from a Chinese company […]
Venezuela and Russia Ink Deals to Boost Ties
(Energy Analytics Institute, 16.Feb.2022) — Venezuela and Russia signed an agreement of intent aimed at strengthening strategic alliances and comprehensive cooperation between the two countries under the context of a relationship based on mutual respect. The agreement was signed by Venezuela’s Petroleum Minister Tareck El Aisami and Russia’s Yuri Barisov, […]
NRGBriefs: Guyana VP Jagdeo Reveals NOC Aspirations by 3Q:22
(Energy Analytics Institute, 16.Feb.2022) — Energy briefs including the International Energy Conference and Expo Guyana saying it will allow the first 80 University of Guyana students to enter its conference for free on 16 Feb. 2022; Guyana’s Vice President Bharrat Jagdeo talking about the potential launch of the country’s national […]
NRGBriefs: Frontera Sets Guyana Exploration CAPEX at $110-$130mn
(Energy Analytics Institute, 16.Feb.2022) — Energy briefs including Frontera Energy anticipating Guyana exploration CAPEX of $110-$130mn in 2022 and CGX Energy anticipating further investments of $5-$10mn for the Berbice Deepwater Port Project; Kootenay Silver saying JV operator Aztec Minerals Corp. reported a broad, high grade, gold intercept in the first RC drill hole […]
TotalEnergies Seeks Exit from Venezuelan Gas Projects
(Bloomberg, 10.Feb.2022) — TotalEnergies SE is negotiating an exit from its natural gas operations in Venezuela, just months after the French energy giant closed its oil business in the country. The company is pulling out of its majority stake in YPergas SA, a joint venture in central Guarico state that produces […]
![Top NRG headlines from Argentina and Colombia to Venezuela [photos]](https://energy-analytics-institute.org/wp-content/uploads/2022/02/header-nrg-photo-recap-energy-analytics-institute.jpg)
Top NRG headlines from Argentina and Colombia to Venezuela [photos]
HOUSTON, TEXAS (Energy Analytics Institute, 5.Feb.2022) — Energy Analytics Institute‘s photo journalistic recap of 10 of our top headlines on Instagram in recent weeks. ____________________ By Ofelia Paredes. © Energy Analytics Institute (EAI). All Rights Reserved.
NRGBriefs: Maduro Says No Presidential Elections Until At Least 2025
(Energy Analytics Institute, 4.Feb.2022) — Energy briefs including Colombia signing a MOU w/ The Netherlands to create a hydrogen export channel; Venezuela’s President Nicolás Maduro saying there will be no presidential elections in 2024; and more. LATIN AMERICA AND THE CARIBBEAN Colombia — Colombia signed a MOU w/ The Netherlands […]
NRGBriefs: Argentina’s President Meets with Putin
(Energy Analytics Institute, 3.Feb.2022) — Energy briefs including Grupo EnergĂa Bogotá commencing assembly of the first tower of its north project in Chocontá (Cundinamarca); Argentina’s President Alberto Fernandez visiting Russia to discuss energy, industry, environmental and financing issues w/ his Russian counterpart Vladimir Putin; and EP PetroEcuador General Manager Äştalo […]
NRGBriefs: BCV Reports Income from FX Sales from PDVSA
(Energy Analytics Institute, 1.Feb.2022) — Energy briefs including Venezuela’s income from foreign currency sales to the Central Bank of Venezuela (BCV) obtained from PDVSA reaching $3.292bn in 2021; and ExxonMobil continuing to progress its low cost of supply deepwater developments in Guyana. LATIN AMERICA AND THE CARIBBEAN Guyana — ExxonMobil […]
Iranian Oil Tanker to Discharge 2 mln Barrels in Venezuela
(Reuters, 31.Jan.2022) — An Iranian supertanker carrying about 2 million barrels of condensate this week began discharging at Venezuelan state-run oil company PDVSA‘s main oil port, according to a company document and tanker tracking services. PDVSA and state-run National Iranian Oil Company (NIOC) in the second half of last year started […]
Italy Top Court: Venezuela’s Ex-oil Czar Can’t be Extradited
(AP, 28.Jan.2022) — Italy’s highest court confirmed Friday that Venezuela’s former oil czar cannot be extradited to face corruption charges at home because of his country’s record in violating human rights, his Italian lawyer said. The Court of Cassation upheld a lower court’s ruling in September which recognized that Rafael […]
NRGBriefs: CSI Compressco Cash Distribution
(Energy Analytics Institute, 21.Jan.2022) — Energy briefs including CSI Compressco LP’s (NASDAQ: CCLP) BODs of its general partner declaring a cash distribution attributable to the 4Q:21; and PDVSA’s US refining arm Citgo Petroleum being Venezuela’s most priced int’l asset. NORTH AMERICA US — CSI Compressco LP’s (NASDAQ: CCLP) BODs of its general […]
NRGBriefs: Road Blockages in Southern BolĂvar Impacting Oil Production
(Energy Analytics Institute, 20.Jan.2022) — Energy briefs including road blockages impacting gas service to at least 5,618 users in the municipalities of Cantagallo and San Pablo, in southern BolĂvar department; geopolitical issues in Iran and Ukraine potentially positively impacting Venezuela; and TechnipFMC (NYSE:FTI) (PARIS:FTI) planning to issue its 4Q:21 earnings […]
NRGBriefs: PDVSA Debt Stood at $35bn at YE:21
(Energy Analytics Institute, 19.Jan.2022) — Energy briefs including Brazil’s President Jair Bolsonaro visiting w/ his counterparts in Suriname and Guyana to discuss oil and gas matters; and Venezuela’s state oil giant PDVSA revealing its total debt stood at $34.894bn at YE:21. LATIN AMERICA AND THE CARIBBEAN Brazil — Brazil’s President […]
![Venezuela’s Maduro Eyes 2 MMb/d Mark in 2022 [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/01/nm-source-menpet-d.jpg)
Venezuela’s Maduro Eyes 2 MMb/d Mark in 2022 [PDF Download]
(Energy Analytics Institute, 15.Jan.2022) — Venezuela’s President Nicolás Maduro, during his 15 January 2022 annual address to the nation, said the OPEC country’s oil production goal in 2022 was to reach 2 million barrels per day. Excerpts from his speech follow: Highlights — “In December 2021 we achieved an important […]
NRGBriefs: Fedeunep Calling for Dollarization of Salaries
(Energy Analytics Institute, 15.Jan.2022) — Energy briefs including Chile’s state oil and gas entity ENAP celebrating 66 yrs of operations at the Aconcagua Refinery; construction of Mexico’s Olmeca Refinery progressing according to SENER’s plans; and Fedeunep pushing for the dollarization of salaries in Venezuela. Chile — Since its foundation 66 […]
Venezuela Gasoline Pipeline Damaged in Explosion; PDVSA Blames “Sabotage”
(Reuters, 12.Jan.2022) — Venezuela’s state-owned oil company PDVSA on Wednesday blamed an explosion along a major gasoline pipeline on “criminal sabotage”, adding that the line would be repaired swiftly. Authorities in Venezuela’s eastern Anzoategui state reported the blast late on Tuesday. It was presumably caused by “attempts to perforate the […]
State Win for Venezuela’s Opposition Masks Deeper Problems
(Al Jazeera, 11.Jan.2022) — Despite a symbolic victory in Hugo Chavez’s home state, analysts say the opposition has few options left. Venezuela’s opposition has won an important symbolic battle in securing the governorship in Barinas State, but analysts say they are still losing the broader political war with government forces. On […]
NRGBriefs: Barinas Governor Election in Venezuela
(Energy Analytics Institute, 9.Jan.2022) — Energy briefs including results from the 9 Jan. 2022 governor election in Venezuela’s Barinas state; and the Deer Park refinery sale to Pemex surviving a court challenge in a federal court in Houston. LATIN AMERICA AND THE CARIBBEAN Mexico — The Deer Park refinery sale […]
Venezuela Doubles Crude Oil Exports Defying US Sanctions
(Bloomberg, 3.Jan.2022) — Oil exports from Venezuela doubled in December from a year earlier as the country raises production of revenue-generating hydrocarbons in defiance of U.S. sanctions. Shipments averaged 619,000 barrels a day in December. The OPEC-founding member increased exports for a third straight month with the support of ally […]
NRGBriefs: Buenos Aires Power Outages
(Energy Analytics Institute, 3.Jan.2022) — Energy briefs including power outages in Buenos Aires, Argentina; Brazilian fuel distributors supplying 1.3bn liters of biofuels in the 1Q:22; Venezuela’s opposition-led National Assembly deciding to back Juan GuaidĂł for another yr; and more. LATIN AMERICA AND THE CARIBBEAN Argentina — Residents in various sectors […]
NRGBriefs: Ecuador Eyes Restarting OCP
(Energy Analytics Institute, 29.Dec.2021) — Energy briefs including Ecuador expecting to restart ops at OCP on 31 Dec. 2021; and Y&V IngenierĂa y ConstrucciĂłn saying it hasn’t diminished its operational capacity. LATIN AMERICA AND THE CARIBBEAN Ecuador — Operations at the 450,000 b/d capacity Heavy Crude Pipeline (OCP) are expected […]
Venezuela’s 2021 Crude Output Shows No Growth from Last Year
(S&P Global Platts, 29.Dec.2021) — Venezuelan state-owned PDVSA and its foreign joint venture partners recorded average crude oil production of 560,000 b/d in 2021, according to an internal report reviewed by S&P Global Platts. The average year was slightly below 2020 when production averaged 570,000 b/d and the 2019 record […]
NRGBriefs: Ecopetrol Sends First Carbon-Neutral Cargo to PetroChina
(Energy Analytics Institute, 28.Dec.2021) — Energy briefs including Colombia’s state-controlled Ecopetrol agreeing to ship 1 MMbbls of Castilla blend oil to PetroChina for delivery in Feb. 2022; Venezuela’s opposition lawmakers voting to for the continuity of the National Assembly and its leader Juan GuaidĂł; and more. LATIN AMERICA AND THE […]
Venezuela Says Oil Output Topped More Than 1 MMb/d
(Bloomberg, 27.Dec.2021) — Venezuela says it’s pumping the most oil since harsh U.S. sanctions strangled state-owned oil company Petroleos de Venezuela SA more than two years ago. Not everyone believes it. PDVSA, as the Caracas-based explorer is known, reported more than 1 million barrels of daily output in a Dec. 24 Twitter post. […]
How Venezuela Pulled its Oil Production Out of a Tailspin
(Reuters, 27.Dec.2021) — Venezuela this year almost doubled its oil production from last year’s decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos de Venezuela, known as PDVSA, won help from small […]
NRGBriefs: Maduro Courts Arab Investments
(Energy Analytics Institute, 26.Dec.2021) — Energy briefs including Venezuela’s President Nicolas Maduro talking in a special interview w/ Arab media house Al Mayadeen broadcast on Venezuelan national TV; Venezuela’s GDP expected to rise 5% in 2022; Mammoet crews continue to assist w/ construction of Guajira I, in the municipality of […]
NRGBriefs: Venezuelan Oil Production Touches 1 MMb/d
(Energy Analytics Institute, 24.Dec.2021) — Energy briefs including Venezuela supposedly reaching the 1 MMb/d oil production mark; and SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) commencing commissioning and ramping up activities at Çöpler’s sulfide plant flotation circuit in Peru. LATIN AMERICA AND THE CARIBBEAN Peru — SSR Mining Inc. […]
NRGBriefs: Ecopetrol Fined for Caño Cacayal Contamination
(Energy Analytics Institute, 17.Dec.2021) — Energy briefs including Ecopetrol S.A. revealing the Sustainable Development Corporation of the Macarena Special Management Area CORMACARENA, through Resolution No. PS-GJ.1.2.6.21.2094 of 2021, imposed a fine of 20 monthly minimum wages to the co. due to the contamination of Caño Cacayal; Venezuela’s oil production set to […]
NRGBriefs: Venezuela’s Oil Minister El Aissami Says He’s Fine
(Energy Analytics Institute, 14.Dec.2021) — Energy briefs including EP PetroEcuador announcing it has sufficient fuel supplies at all its terminals despite transport issues impacting Ecuador’s two oil pipelines and one derivatives pipeline; ExxonMobil reiterating the Liza Unity FPSO will commence ops by 2022 offshore Guyana; Venezuela’s oil minister Tareck El […]
No Change Afoot At Venezuela’s Oil Ministry: Sources
(Argus, 10.Dec.2021) — Venezuela’s oil minister Tareck El Aissami returned to work this week after a prolonged medical leave and will not be replaced, a senior source close to the government told Argus. A second source confirmed the information. The minister attended meetings in person in Caracas this week and will […]
NRGBriefs: Trinidad To Reveal Ryder Scott Details
(Energy Analytics Institute, 8.Dec.2021) — Energy briefs including Argentina aspiring to produce 1 MMb/d in five yrs; Trinidad and Tobago looking to reveal details of a new Ryder Scott gas reserve report; rumors circulating about the health of Venezuela’s oil minister Tareck El Aissami; and more. LATIN AMERICA AND THE […]
Venezuela: Nov. Oil Output Rises To 660 Mb/d
(S&P Global Platts, 30.Nov.2021) — Oil production by Venezuela’s state PDVSA and its foreign partners rose to 660,000 b/d in November, up 40,000 b/d from October, Nov. 30 PDVSA production reports reviewed by S&P Global Platts showed. Orinoco Belt output rose to 420,000 b/d, up 40,000 b/d from the 380,000 […]
Citgo 6 Remain Pawns In A US-Venezuela Standoff
(CNN, 26.Nov.2021) — The phone connection between a Venezuelan prison cell and Houston, Texas, crackles and fades. Jorge Toledo sounds tired. He’s been held for four years, one of six former executives of Venezuela’s US-based oil refining company CITGO convicted of corruption. The sounds of prison life echo as he […]
Houston-based Citgo Reports 3Q:21 Results
(Citgo, 15.Nov.2021) — Citgo Petroleum Corporation reported its third quarter 2021 financial results, including a net loss of $4mn, compared to net income of $3mn for the second quarter. Marking the company’s second consecutive quarter of positive EBITDA1 after three straight quarters of negative EBITDA, EBITDA in the third quarter […]
Venezuela Slashes Oil Production Target
(Bloomberg, 5.Nov.2021) — Venezuela’s state oil company slashed its output target by one-third as years of corruption, brain drain and inadequate investment crippled the nation’s energy infrastructure. PDVSA cut its daily production target to 1 million barrels from a 1.5-million-barrel goal announced in January, according to a company document seen […]
Venezuelan Elections To Not Bring Sanctions Relief
(Platts, 4.Nov.2021) — Any major easing of US oil sanctions against Venezuela remains off the table, but the country’s Nov. 21 elections could provide a chance for relief around the edges like a restart to crude-for-diesel swaps. Candidates backed by President Nicolas Maduro are expected to sweep the local and […]