(Petrobras, 4.Oct.2021) — Petrobras started the opportunity disclosure stage (teaser), regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which owns offshore fields in the Gulf of Mexico. The teaser, […]
Category: USA
Select Energy Closes Acquisition Of Agua Libre Midstream
(Select Energy, 4.Oct.2021) — Select Energy Services, Inc. (NYSE: WTTR) announced that, effective 1 October 2021, it has successfully closed on the acquisition of substantially all of the assets of Agua Libre Midstream, LLC and certain water-related assets and operations of Basic Energy Services, L.P. and assumed liabilities in connection […]
NRGBriefs: Trinidad Missing Out On European Gas Crisis
(Energy Analytics Institute, 3.Oct.2021) — Energy briefs including SSR Mining Inc. setting the date for 3Q:21 quarterly call; Trinidad and Tobago’s Finance Minister Colm Imbert readies national budget presentation; Trinidad and Tobago struggling to boost LNG exports amid European gas crisis; talks set to resume again on 15 Oct. 2021 […]
Nucor Affiliates Reveal Two Acquisitions
(Nucor, 1.Oct.2021) — Nucor Corporation (NYSE: NUE) announced two acquisitions today on behalf of The David J. Joseph Company (DJJ). The addition of these new recycling locations, representing a 10% growth in capacity, is consistent with Nucor’s growth strategy and demonstrates our commitment to expanding the regional recycling platforms supporting […]
Eve And Bristow Order Up To 100 eVTOLs
(Bristow, 23.Sep.2021) — Eve Urban Air Mobility, LLC, an Embraer company, and Bristow Group Inc. (NYSE: VTOL) announced a Memorandum of Understanding to work together to develop an Air Operator’s Certificate (AOC) for Eve’s electric vertical takeoff and landing (eVTOL) aircraft. The partnership will develop an Urban Air Mobility (UAM) […]
NRGBriefs: ANP Resolution, Ramirez Extradition Request
(Energy Analytics Institute, 23.Sep.2021) — Energy briefs from the LAC region including: Brazil’s ANP approving a resolution to regulate a reduction in royalties, a court in Rome rejects Nicolas Maduro’s request to extradite former PDVSA head Rafael Ramirez, and the BODs of APA Corp. declaring a regular cash dividend. LATIN […]
ConocoPhillips Steps Up Push To Collect PdV Debt
(Argus, 23.Sep.2021) — ConocoPhillips stands out in Venezuela’s vast universe of jilted creditors and claimants as a potential future commercial partner for state-owned PdV, a distinction that is driving aggressive international enforcement actions and quiet overtures for Caracas to resume payments of the company’s arbitration debt. The US independent’s $10bn […]
Vertical And Bristow Team Up To Electrify Helicopter Market
(Bristow, 21.Sep.2021) — Bristow Group Inc. (NYSE: VTOL) and Vertical Aerospace Group Ltd announced a Memorandum of Understanding (MOU) under which the two firms will cooperate on the certification, operational planning and potential purchase of up to 50 eVTOL aircraft. Bristow’s pre-order of 25 aircraft, along with the option for […]
Joint US-EU Global Methane Pledge
(White House, 18.Sep.2021) — The United States and European Union announced today the Global Methane Pledge, an initiative to reduce global methane emissions to be launched at the UN Climate Change Conference (COP 26) in November in Glasgow. President Biden and European Commission President Ursula von der Leyen urged countries […]
US To Consider Citgo Shares Sale Next Year
(Bloomberg, 15.Sep.2021) — The U.S. will consider authorizing the sale of Citgo Petroleum Corp. shares early next year, after the mandate of the Venezuela opposition government ends, according to a court document. The U.S. Treasury said it may reasses the sale of shares of Citgo’s parent company, PDV Holding Inc., […]
LatAm Briefs: Argentina Lithium Acquisition, Citgo Challenges
(Energy Analytics Institute, 13.Sep.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina Lithium & Energy Corp. acquiring high quality lithium projects, Citgo Petroleum executives warning of threats from biofuels amid the energy transition, and much more. LATIN AMERICA AND CARIBBEAN Argentina — The Center for International […]
McDermott’s Amazon Tapped For Deepwater GOM Development
(McDermott, 13.Sep.2021) — McDermott‘s Amazon vessel, following a sophisticated upgrade to its ultra-deepwater capabilities, is coming to the Gulf of Mexico to support a subsea contract for the Whale Development in Alaminos Canyon. “This contract, which will take place in a water depth of more than 9,000 feet, is a […]
Creedence Recapitalizes Magna Energy
(Creedence, 13.Sep.2021) — Creedence Energy Services, a portfolio company of Tower Arch Capital, recapitalized Magna Energy Services, LLC in partnership with its CEO, Adam Kelly. Founded in 2006, Magna Energy Services is headquartered near Farmington, NM and led by Adam Kelly. Magna provides a comprehensive suite of production chemicals to […]
Hess Reveals Regular Quarterly Dividend On Common Stock
(Energy Analytics Institute, 1.Sep.2021) — The Board of Directors of US-based Hess Corporation (NYSE: HES) declared a regular quarterly dividend of $0.25 per share payable on the company’s common stock on 30 September 2021 to holders of record at the close of business on 15 September, the company announced in […]
Venezuela still attractive: Amos Global Energy’s Ali Moshiri says
HOUSTON, TEXAS (By Pietro D. Pitts, Energy Analytics Institute, 1.Sep.2021, Words: 1,400) — Venezuela, home to the world’s largest oil reserves, still has an opportunity to capitalize on producing oil amid the energy transition, Ali Moshiri, head of Amos Global Energy tells Energy Analytics Institute (EAI). “Investment is going to […]
Electric Vehicle Sales Surpass 6 Million In 2021
(WoodMac, 31.Aug.2021) — Global electric vehicle (EV) sales are expected to vault over 6 million this year, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). EV sales in H1 2021 nearly tripled worldwide compared to the first half of last year. Some of the increase can be attributed to slow […]
Noble Updates Rig Status After Hurricane Ida
(Noble, 29.Aug.2021) — Noble Corporation (NYSE: NE) announced that all personnel onboard the Pacific Sharav, Noble Globetrotter I, and Noble Globetrotter II ultra-deepwater drillships in the US Gulf of Mexico are safe and accounted for following Hurricane Ida. Each rig successfully secured its respective well in progress and took evasive actions […]
Noble Provides Preliminary 2022 Guidance
(Noble, 26.Aug.2021) — Noble Corporation (NYSE: NE) announced that subsidiaries of the company have reached a definitive agreement to sell four jackups to ADES International Holding Ltd., through its subsidiary, for $292mn. The company expects to generate approximately $285mn in cash from the transaction net of fees, expenses, and the […]
Talos Wins Bid For Carbon Capture And Storage Site
(Talos, 25.Aug.2021) — Talos Energy Inc. (NYSE: TALO), along with its partner Carbonvert, Inc., was the sole winning bidder partnership for the Texas General Land Office’s (GLO) Jefferson County, Texas carbon storage site (the “Project Site”) located near Beaumont and Port Arthur, Texas. Following finalization of lease documentation, the award […]
The Creation Of Inflation
(HSBC Bank plc, 23.Aug.2021) — Amid vast uncertainty, inflation has spiked raising fears that price stability is over. The risks of “error” – in both directions – have risen hugely. Late expectations Those most relaxed about inflation typically point to an absence of any serious increase in inflationary expectations. This […]
Citgo Envisions Oil ‘Bridge’ To Venezuela
(Argus, 23.Aug.2021) — US refiner Citgo has been effectively cut off from its Venezuelan state-owned parent PdV since 2019, but it is still constrained by heavy debt while multiple creditors nip at its heels. In the first part of a two-part interview, chief executive Carlos Jordá spoke with senior contributing […]
Citgo Returns To Profitability
(Citgo, 16.Aug.2021) — Citgo Petroleum Corporation reported its second quarter 2021 performance results, including net income of $3mn, EBITDA1 of $214mn and adjusted EBITDA2 of $208mn, marking the company’s first profitable quarter since the third quarter of 2019. “Given the multiple challenges we have faced during 2020 and the first half […]
The Energy Basket: A Non-Binary Approach to the Energy Transitions
(The Way Ahead, Fernando C. Hernandez, 12.Aug.2021) — I became a proponent of the energy basket concept, while deployed offshore, as it became apparent that an ROV’s upward and downward movement (heave) could be harnessed as a renewable energy to power subsea equipment. In this article, I will share my […]
Citgo Names Mark Holstein New General Counsel
(Citgo, 10.Aug.2021) — Citgo Petroleum Corporation announced the appointment of Mark Holstein as the company’s new General Counsel, overseeing all aspects of the company’s legal strategy and material litigation, while providing legal counsel and advising senior management. Holstein will report directly to Jack Lynch, Vice President of Legal and Government […]
APA Reports 2Q:21 Net Income of $388mn
(APA, 5.May.2021) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first-quarter 2021. APA reported net income attributable to common stock of $388mn, or $1.02 per diluted share. When adjusted for items that impact the comparability of results, APA’s first-quarter earnings were $346mn, or $0.91 per […]
Argus Launches LPG Freight Prices
(Argus, 27.Jul.2021) — Global energy and commodity price reporting agency Argus has launched 10 new freight price assessments for tankers transporting liquefied petroleum gas (LPG). These prices are a response to market demand for greater transparency in the growing and increasingly complex global trade in LPG, which comprises butane and […]
US Still Shows Strong Appetite For Russian Oil
(S&P Global, 3.Aug.2021) — The US is still showing strong demand for imports of Russian crude and fuel oil feedstocks, which analysts expect to continue as long as the economy is recovering and US sanctions keep Venezuelan crude off the market. The trend comes at a tricky time in US-Russia […]
Brattle Welcomes Antitrust Expert
(The Brattle Group, 2.Aug.2021) — The Brattle Group welcomed economist Veronica Irastorza as a new Principal in its global Antitrust & Competition practice, based in San Francisco. Ms. Irastorza brings deep expertise in antitrust, contract disputes, and damages to a broad range of matters in the energy industry, including regulation, planning, […]
Whistler Pipeline Placed in Service in Texas
(WhiteWater, 2.Aug.2021) — The Whistler Pipeline began full commercial service on 1 July 2021 providing approximately 2 billion cubic feet per day (Bcf/d) of incremental natural gas transport capacity to the Texas Gulf Coast markets from the Permian basin, which will help ensure sufficient reliable gas takeaway and reduce natural […]
CSI Compressco Reports 2Q:21 Results
(CSI Compressco, 30.Jul.2021) — CSI Compressco LP (NASDAQ: CCLP) announced second quarter 2021 results. Second Quarter 2021 Summary: Total revenues for the second quarter 2021 were $69.8mn, compared to $65.7mn in the first quarter 2021.Compression and related services revenue increased sequentially to $55.3mn in the second quarter 2021 compared to […]
Chevron Reveals 2Q:21 Results
(Energy Analytics Institute, 30.Jul.2021) — Chevron Corporation (NYSE: CVX) reported earnings of $3.1bn or $1.60 per share – diluted for second quarter 2021 (2Q:21) compared to a loss of $8.3bn ($4.44) per share – diluted in the 2Q:20. Included in the current quarter were remediation charges associated with previously sold […]
NASA’s 10th Space Apps Challenge
(NASA, 29.Jul.2021) — To mark the 10th International Space Apps Challenge, the largest annual global hackathon in the world, NASA is collaborating with nine space agency partners to bring the event to even more communities 2-3 October 2021. Each year, NASA’s International Space Apps Challenge, or Space Apps, engages thousands of […]
Weatherford Reveals 2Q:21 Results
(Weatherford, 28.Jul.2021) — Weatherford International plc (NASDAQ: WFRD) announced its results for the second quarter of 2021. Revenues for the second quarter of 2021 were $903mn, an increase of 9% sequentially and 10% year-on-year. Reported operating income was $25mn in the second quarter of 2021, compared to an operating loss of $13 […]
Oceaneering Reports 2Q:21 Results
(Oceaneering, 28.Jul.2021) — Oceaneering International, Inc. (NYSE:OII) reported net income of $6.2mn, or $0.06 per share, on revenue of $498mn for the three months ended 30 June 2021. Adjusted net income was $10.4mn, or $0.10 per share, reflecting the impact of $3.2mn of pre-tax adjustments associated with a loss on the sale […]
JinkoSolar Selected As An Eco-Leader
(JinkoSolar, 26.Jul.2021) — JinkoSolar Holding Co., Ltd. has been selected as an “Eco-Leader” by Green Builder® Media for the third time. Green Builder® Media selects Eco-Leaders every year as a way to honor companies who have taken exemplary steps towards sustainability for their business practices. With this year’s theme focused on […]
Talos Updates On Recent Drilling
(Talos, 26.Jul.2021) — Talos Energy Inc. (NYSE: TALO) announced preliminary production estimates for the second quarter of 2021, successful first production from the company’s Tornado Attic well and successful drilling of the company’s Crown and Anchor well. Talos estimates that average daily production for the second quarter of 2021 was […]
Shell Invests In GOM Whale Development
(Shell, 26.Jul.2021) — Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, announces the final investment decision (FID) for Whale, a deep-water development in the U.S. Gulf of Mexico that features a 99% replicated hull and an 80% replication of the topsides from our Vito project. “Whale is the […]
LatAm Briefs: Argentine Output, Colombian Renewables
(Energy Analytics Institute, 22.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: daily production details from Argentina’s Neuquén region to 13 renewable projects identified by Colombia’s Ecopetrol and more. Argentina — Daily production in Argentina’s Neuquén region reached a record 193,000 barrels per day, the highest volume […]
Hess Corp. Sets New Emission Reduction Targets
(Hess, 21.Jul.2021) — Hess Corporation announced publication of its 24th annual sustainability report, which provides a comprehensive review of the company’s strategy and performance on environmental, social and governance (ESG) programs and initiatives. Hess Corporation’s 2020 Sustainability Report is available on the company’s website at www.hess.com/sustainability/sustainability-reports. Significantly outperformed five year […]
US Extends Protection For Citgo
(Reuters, 20.Jul.2021) — The United States on Tuesday extended a measure protecting Venezuelan-owned U.S. refiner Citgo Petroleum Corp PDVSAC.UL from bondholders seeking a stake in the company to collect on unpaid debts from state-owned oil company PDVSA, Citgo’s owner. Holders of PDVSA’s 2020 bond, which is backed by a majority […]
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US Extends Citgo Protection [PDF Download]
(Department of the Treasury, 20.Jul.2021) — The Office of Foreign Assets Control (OFAC) issued the following update to General License No. 5G related to PDVSA and Citgo Petroleum. Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 5G Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 […]
Excelerate Energy, Snam, And Albgaz Sign MOU To Pursue New Gas Pipeline
(Excelerate, 15.Jul.2021) — Excelerate Energy L.P., Snam S.p.A, and Albgaz Sh.a signed a Memorandum of Understanding (MOU), in Tirana, Albania, to explore potential cooperation for the construction of a natural gas pipeline from the Albanian Vlora Terminal to other natural gas infrastructure opportunities in Albania. Under this MOU, Excelerate, Snam, […]
Citgo Dismisses LPG Supply Plan For Venezuela
(Argus, 13.Jul.2021) — Citgo, the US refining arm of Venezuelan state-owned PdV, told Argus it has no immediate plan to supply LPG to Venezuela under new US authorization for sale of the cooking fuel to the Opec country. “We are aware that OFAC recently issued General License 40, authorizing certain transactions involving […]
US OKs LPG Exports To Venezuela
(Energy Analytics Institute, 12.Jul.2021) — The US Office of Foreign Assets Control (OFAC) issued general license no. 40 which allows “all transactions and activities related to the exportation or reexportation, directly or indirectly, of liquefied petroleum gas to Venezuela, involving the government of Venezuela, Petróleos de Venezuela, S.A. (PDVSA), or […]
Guyana-US Relations Strong, Valuable
(DPI, 8.Jul.2021) — His Excellency Dr Irfaan Ali called the relationship between Guyana and the United States of America strong and valuable and pointed to greater partnerships between the two nations moving forward. The Commander in Chief and several senior members of his Government, including the Prime Minister, Brigadier (Ret’d) the […]
Encora Acquires Daitan
(Encora, 6.Jul.2021) — Encora, a global next-gen product engineering provider, announced the acquisition of Daitan, a leading provider of software engineering services. The acquisition adds 600 engineers and proprietary product capabilities, expanding Encora’s global talent pool to 5,500 engineers. Daitan has offices in San Ramon, CA and R&D centers in […]
RPC, Inc. Reveals Date Of 2Q:21 Conf. Call
(RPC, 6.Jul.2021) — RPC, Inc. (NYSE: RES) will release its financial results for the second quarter ended 30 June 2021 on Wednesday, 28 July 2021 before the market opens. In conjunction with its earnings release, the company will host a conference call to review the company’s financial and operating results […]
Alamo Group Declares Regular Quarterly Dividend
(Energy Analytics Institute, 1.Jul.2021) — The board of directors of Alamo Group Inc. (NYSE: ALG) declared its quarterly cash dividend of $0.14 per share, payable 28 July 2021 to shareholders of record at the close of business on 15 July, the company announced in an official statement. ____________________ By Aaron […]
Duke Energy Florida To Expand Low-income Programs
(Duke Energy, 1.Jul.2021) — Duke Energy Florida filed a proposal with the Florida Public Service Commission to provide additional assistance to customers through the company’s low-income programs. “Our customers remain our top priority. Duke Energy Florida is committed to assisting all of our customers, especially those who are most vulnerable,” […]
Sempra Gives Strategic Update, Financial Outlook
(Sempra, 29.Jun.2021) — Sempra‘s (NYSE: SRE) (BMV: SRE) senior management team is providing an update on the company’s strategy, operations and financial outlook at its 2021 Virtual Investor Day. “Over the next decade, we see the economies of North America becoming increasingly integrated,” said Jeffrey W. Martin, chairman and CEO […]