(Argus, 30.Oct.2020) — The region’s recovery from Covid-19 will depend heavily on who is dictating US policy, writes Patricia Garip. Waves of political chaos that recurrently engulf Latin America were not supposed to wash up on stable US shores. Yet days before the 3 November election, the US is convulsed […]
Category: USA
SimĂłn BolĂvar Foundation Rejects Maduro Allegations
(Citgo, 30.Oct.2020) — Given the recent accusations made by representatives of the Nicolás Maduro regime, the SimĂłn BolĂvar Foundation, the private non-profit foundation of Citgo Petroleum Corporation, categorically rejects the allegations regarding the Foundation’s activities and its President Ms. Mariela Poleo, for being completely false and unfounded. The SimĂłn BolĂvar […]
Hess Corp. 3Q:20 Earnings Call Transcript
(Seeking Alpha, 28.Oct.2020) — Hess Corporation announced it 3Q:20 earnings results. The transcript from the earnings conference call on 28 October 2020 with analyst follows. Company Participants Jay Wilson – VP, IR John Hess – CEO Greg Hill – COO John Rielly – CFO Conference Call Participants Doug Leggate – […]
ConocoPhillips Reports 3Q:20 Results
(ConocoPhillips, 29.Oct.2020) — ConocoPhillips reported a third-quarter 2020 loss of $0.5 billion, or ($0.42) per share, compared with third-quarter 2019 earnings of $3.1 billion, or $2.74 per share. Excluding special items, third-quarter 2020 adjusted earnings were a loss of $0.3 billion, or ($0.31) per share, compared with third-quarter 2019 adjusted […]
Citgo Names John Zuklic As Chief Financial Officer
(Citgo, 29.Oct.2020) — The Board of Directors of Citgo Petroleum Corporation appointed John Zuklic as Vice President Finance and Chief Financial Officer (CFO), reporting to Citgo President and CEO Carlos Jordá, effective 4 Nov. 2020. Zuklic was selected after a thorough, competitive search process that evaluated a number of highly […]
Exxon Mobil Corporation Declares 4Q:20 Dividend
(Exxon, 28.Oct.2020) — The Board of Directors of Exxon Mobil Corporation declared a cash dividend of $0.87 per share on the Common Stock, payable on 10 December 2020 to shareholders of record of Common Stock at the close of business on 12 November. This fourth quarter dividend is at the […]
Hess Reports 3Q:20 Results, Ups Guyana Resources
(Hess, 28.Oct.2020) — Hess Corporation reported a net loss of $243 million, or $0.80 per common share, in the third quarter of 2020, compared with a net loss of $212 million, or $0.70 per common share, in the third quarter of 2019. On an adjusted basis, the Corporation reported a […]
Fact Box: History Of Esso Trading Name
(Energy Analytics Institute, 24.Oct.2020) — Esso is a trading name for Irving, Texas-based ExxonMobil and its related companies. The company started off as Standard Oil of New Jersey following the breakup of Standard Oil. In 1972, the name was largely replaced in the US by the Exxon brand after the […]
US Energy Policy Front And Center In US Elections
(WoodMac, 21.Oct.2020) — The 2020 elections bring US energy policy to a clear fork in the road. A second term for President Donald Trump would mean a continuation of the pattern of the past four years: a generally laissez-faire approach to energy policy, with attempts at the margin to support […]
Compressco Releases Date For 3Q:20 Conference Call
(CSI Compressco, 20.Oct.2020) — CSI Compressco expects to release its third quarter 2020 results before the opening of the market on 2 November 2020. Following the release, CSI Compressco will host a conference call at 9:30 a.m. Eastern Time to discuss the results. CSI Compressco invites you to listen to […]
CSI Compressco Announces Quarterly Distribution
(CSI Compressco, 20.Oct.2020) — CSI Compressco LP announced that the board of directors of its general partner has declared a cash distribution attributable to the quarter ended 30 September 2020 of $0.01 per outstanding common unit, or $0.04 per outstanding common unit on an annualized basis. This cash distribution will […]
Citgo-backed Bonds Boosted By US Court Ruling
(Reuters, 19.Oct.2020) — Bond market brokers marked up prices on some of Venezuela’s battered debt more than four-fold on Monday after a U.S. judge dealt a major blow to opposition leader Juan Guaido’s efforts to have them declared invalid. The bonds at the centre of the row belong to Venezuelan […]
ConocoPhillips Swoops On Concho In $9.7bn Deal
(WoodMac, 19.Oct.2020) — Speaking after ConocoPhillips announced it will take over Concho Resources in a $9.7 billion all-stock deal, Robert Clarke, vice president, Lower 48 upstream, at Wood Mackenzie, said: “The combination is remarkable. Just in regards to scale, ConocoPhillips is adding enough Permian production to nip at the heels […]
ConocoPhillips To Buy Concho Resources
(ConocoPhillips, 18.Oct.2020) — ConocoPhillips and Concho Resources entered into a definitive agreement to combine companies in an all-stock transaction. Under the terms of the transaction, which has been unanimously approved by the board of directors of each company, each share of Concho Resources (Concho) common stock will be exchanged for […]
Apache Reveals 3Q:20 Supplemental Information
(Apache, 14.Oct.2020) — Apache Corporation provided supplemental information regarding certain third-quarter 2020 financial and operational results. Supplemental quarterly information To further assist analysts with their third-quarter earnings models, the company is providing the following estimates: Estimated Average Realized Prices – 3Q20 Oil (bbl) NGL (bbl) Natural Gas (Mcf) […]
TechnipFMC Enters Green Hydrogen Deal With McPhy
(TechnipFMC, 14.Oct.2020) — TechnipFMC signed a Memorandum of Understanding (MoU) with McPhy, a leading manufacturer and supplier of carbon-free hydrogen production and distribution equipment, pursuant to which the two companies will jointly work on technology development and project implementation. TechnipFMC is also making an equity investment in McPhy. TechnipFMC’s Technip […]
Panhandle Changes Name To PHX Minerals Inc.
(Energy Analytics Institute, 13.Oct.2020) — Panhandle Oil and Gas Inc. officially changed its name to PHX Minerals Inc. with an effective date of 8 October 2020. Additionally, and in conjunction with its name change, the company has also announced the unveiling of a new logo. The company’s ticker will remain […]
San Diego County Energy Developer Gets Funds
(Indian Energy, 12.Oct.2020) — Long-duration, non-lithium ion energy storage is the final key to unlocking renewables and permanently evading the blackouts and brownouts that California is currently facing due to fires, a changing energy mix and climate change. Without storage, 100% renewables penetration is not possible. To address this, the […]
BHP Buys Additional 28% Interest In Shenzi From Hess
(BHP, 6.Oct.2020) — BHP signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28% working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico. Shenzi is structured as a joint ownership: BHP (Operator, 44% interest); Hess (28% interest) and Repsol […]
Chevron Closes Acquisition Of Noble Energy
(Energy Analytics Institute, 5.Oct.2020) — San Ramon-California based Chevron Corporation reported its acquisition of Noble Energy, Inc. has been completed following approval by Noble Energy shareholders. “We are pleased to welcome Noble Energy’s employees and shareholders to Chevron. Noble’s high-quality assets complement Chevron’s advantaged upstream portfolio, and the combination is […]
Marathon Reinstates Base Dividend And Reduces Debt
(Marathon, 1.Oct.2020) — Marathon Oil Corporation reported an update highlighting the reinstatement of a base dividend, recent debt reduction initiatives, and a transparent framework for future capital allocation and uses of free cash flow intended to maximize long-term shareholder value. Highlights — Reinstated quarterly base dividend at 3 cents per […]
Oxy Sales Colombian Onshore Assets to The Carlyle Group
(Piero Stewart, Energy Analytics Institute, 1.Oct.2020) — Houston-based Occidental Petroleum inked an agreement to divest its onshore assets in Colombia to The Carlyle Group for total consideration of $825mn. Per the deal, $700mn is due up front and the remainder payable subject to certain production and commodity price targets, Carlyle […]
Golar LNG Class Action And Lead Plaintiff Deadline
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Golar LNG Ltd and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Golar securities between 30 Apr. and 24 Sep. 2020.
Citgo Board Chairwoman Luisa Palacios To Step Down
(Citgo, 29.Sep.2020) — Citgo Petroleum chairwoman Luisa Palacios says she’ll step down from her position next month. Her letter follows: Dear CITGO community, When I agreed to assume the role of Chairwoman of CITGO in early 2019, the situation required us to focus our attention on three critical goals: to […]
US Pressed For Firm Stance In Venezuelan Bond Case
(Law360, 25.Sep.2020) — A New York federal judge on Friday grilled a lawyer representing the U.S. government on whether she should defer to Venezuelan’s denunciation of the some $1.68 billion in bonds, even as she acknowledged later that it would be a “very harsh result” to deny the bondholders what […]
US Treasury Updates Venezuela, Iran Designations
(Energy Analytics Institute, 22.Sep.2020) — The US Department of Treasury released details regarding Venezuela-related designations as well as providing a designation update. Treasury also provided an Iran-related designation update. The following individuals have been added to OFAC’s SDN List: BENAVIDES RONDON, Williams Jose, Venezuela; DOB 04 Apr 1981; POB Guanipa, […]
Shell And Microsoft Join Up On Carbon Emissions
(Shell, 22.Sep.2020) — Shell International Petroleum Company Limited and Microsoft Corporation, building on a history of three decades of working together, are embarking on a new strategic alliance to support progress towards a world with net-zero emissions. This builds on the strong foundation of decades of technology collaboration between the […]
Enel X Enters US Public Transit Market
(Enel X, 18.Sep.2020) — Enel X, the Enel Group’s advanced energy services business line, announced it has been awarded two grants by the Accelerating Clean Transportation Now (ACTNow) program through the Massachusetts Clean Energy Center (MassCEC). The grants will support the development of public transportation electrification in the Commonwealth and […]
Ecopetrol Aims To Drill 100 Permian Wells By YE:21
(Reuters, 14.Sep.2020) — Colombian oil company Ecopetrol SA aims to drill a total 100 wells by end-2021 in the Permian Basin of West Texas as global oil prices recover, Chief Executive Felipe Bayon said on Monday. Global oil prices plunged to decade lows, with U.S. West Texas Intermediate (WTI) dropping […]
Maersk Chips In With Hurricane Laura Relief
(Maersk, 10.Sep.2020) — APM Terminals Mobile, the Alabama State Port Authority, Maersk Special Project Logistics and Team Rubicon worked together this past week to collect over 36,000 pounds of bottled water, non-perishable food and other emergency supplies for distribution to those affected by Hurricane Laura in communities surrounding Lake Charles, […]
Pelican Energy Partners To Buy Baker Hughes Unit
(Pelican Energy, 10.Sep.2020) — Pelican Energy Partners LP announced an agreement to purchase the assets of the Surface Pressure Control Flow (“SPC Flow”) business unit of the Oilfield Equipment segment of Baker Hughes. Pelican is working in cooperation with the management team of SPC Flow to carve-out the business unit […]
Seized Gasoline Tanker Arrives Off Freeport, Texas
(Reuters, 9.Sep.2020) — A tanker containing a cargo of Iranian gasoline confiscated by the United States arrived on Wednesday at a Texas port where it was preparing to discharge, according to a pilots group spokesperson. The Euroforce arrived off of Freeport, Texas, on Wednesday and had retained Texas Marine Agency, […]
Talos Not Impacted By Expanded Moratorium
(Talos 9.Sep.2020) — Talos Energy Inc. issued a statement clarifying the company’s business will not be impacted by the recently announced Presidential Order extending the current moratorium on oil and gas development in the Eastern Gulf of Mexico (offshore Florida) and imposing new restrictions on oil and gas development in […]
PdV Ad Hoc Chairman Joins Opposition Flight
(Argus, 9.Sep.2020) — The chairman of the Venezuelan opposition’s “ad hoc” board of national oil company PdV has joined a flight of exiled technocrats from the ranks of a struggling US-backed parallel administration led by Juan Guaido. Luis Pacheco, who was named in April 2019, has focused his board efforts […]
Exxon Downsizes As Wall Street Worries About Dividend
(Reuters, 7.Sep.2020) — Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about $48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that will require the top U.S. oil company to make deep cuts to its staff and projects. Wall […]
Hess To Participate In Barclays CEO Conference
(Hess Corp., 4.Sep.2020 — Hess announced that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on 9 September 2020 at 8:25 a.m. ET. A live audio webcast and a replay of the presentation will be accessible via Hess Corporation’s website. Hess Corporation […]
Houston American Energy Completes Permian Well
(Houston American, 3.Sep.2020) — Houston American Energy Corp. provided an update on recent activities on its U.S. Permian Basin acreage. In Yoakum County, TX, the Frost #2-H frac has been completed and the well is expected to go on production within a week. Houston American Energy holds an 18.6% working […]
Manuela Molina Named Sempra’s IR Vice President
(Sempra, 2.Sep.2020) — Sempra Energy announced that Manuela “Nelly” Molina, currently chief financial officer for Sempra Energy’s Mexico subsidiary, Infraestructura EnergĂ©tica Nova, S.A.B. de C.V. (IEnova), has been named vice president of investor relations for Sempra Energy. “Over the past 10 years, Nelly has built a tremendous career at IEnova […]
Citgo-6 Surpasses 1,000 Days Of Wrongful Detention
(Energy Analytics Institute, 1.Sep.2020) — More than 1,000 days have passed since Tomeu Vadell, JosĂ© Luis Zambrano, Alirio Zambrano, Jorge Toledo, Gustavo Cardenas and JosĂ© Pereira — known as the Citgo-6 — were lured to Caracas for business meetings and then detained by masked security agents and thrown into one […]
Sempra Declares Common, Preferred Dividends
(Sempra, 31.Aug.2020) — Sempra Energy’s board of directors has declared a $1.045 per share quarterly dividend on the company’s common stock, which is payable 15 Oct. 2020, to common stock shareholders of record at the close of business on 25 Sept. Sempra Energy’s board of directors declared a quarterly dividend […]
US’ Abrams Eyes Tighter Sanctions On Venezuela
(Reuters, 31.Aug.2020) — The Trump administration is looking to tighten oil sanctions on Venezuela in the near future, top U.S. envoy for the country told Reuters on Monday, by potentially removing exemptions that allow some oil companies to receive crude oil from the OPEC member. U.S. President Donald Trump has […]
Citgo Updates On Lake Charles Refinery After Laura
(Energy Analytics Institute, 28.Aug.2020) — Houston-based refiner Citgo Petroleum released initial details regarding its Lake Charles Refinery and the impact on its operations after the passing of Hurricane Laura. __________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Panhandle Announces 5mn Common Stock Offering
(Panhandle Oil and Gas Inc., 28.Aug.2020) — Panhandle Oil and Gas Inc. priced its previously announced underwritten public offering of 5,000,000 shares of common stock at a price to the public of $1.63/share. In addition, the company has also granted the underwriters a 30-day option to purchase up to 750,000 […]
Venture Global LNG Reports Impacts Of Hurricane Laura
(Venture, 27.Aug.2020) — Venture Global LNG, Inc. announced its Calcasieu Pass LNG facility under construction in Cameron, LA has sustained minimal impacts from Hurricane Laura, which made landfall in Louisiana early this morning and passed directly over the project site. A walk-through inspection of most areas of the site following […]
SunPower and Maxeon Solar Close Spin-Off Deal
(SunPower, 27.Aug.2020) — SunPower and Maxeon Solar Technologies completed the strategic transaction announced last November, separating into two independent public companies. Each will now focus on their critical success factors for their respective business models. “Now is the right time for this strategic spin-off, allowing both SunPower and Maxeon to […]
Panhandle Acquires Assets From Red Stone Resources
(Panhandle Oil and Gas Inc., 27.Aug.2020) — Panhandle Oil and Gas Inc. agreed to acquire two packages of mineral and royalty assets totaling approximately 795 net royalty acres in the SCOOP and Haynesville plays from Red Stone Resources, LLC for $6.9mn in cash and stock, subject to customary closing adjustments. […]
Harvest Drops Suit Against Ex Venezuela Oil Czar
(AP, 26.Aug.2020) — A Houston energy firm has dropped a lawsuit against Venezuela’s former oil czar, who it had accused of orchestrating demands for a $10 million bribe to approve an asset sale in the South American country. The dismissal came in a filing in Houston federal court Wednesday by […]
Trump Seeks To Slap More Sanctions On Venezuela
(Oilprice.com, 19.Aug.2020) — The U.S. federal government is considering more sanctions to add to a list aimed at severing the lifeline between the Venezuelan government and oil revenues that, according to Washington, are the only thing keeping Nicolas Maduro in power. Bloomberg reports, citing unnamed sources familiar with the situation, […]
US Eyes October To End Exemptions On Venezuela
(Reuters, 19.Aug.2020) — The United States is considering an October deadline for ending exemptions to Venezuelan sanctions that allow some companies and refiners to still receive the South American producer’s oil, two sources said, as Washington seeks to raise the heat on President Nicolas Maduro. U.S. President Donald Trump has […]
Oil Industry Frets Recruiting Next Generation Of Workers
(WSJ, 18.Aug.2020) — A growing distaste for the oil business among potential young employees, combined with the economic crisis of the pandemic, could make it harder to tackle competition from renewable energy and electric vehicles. Two years out of college, Leah Sanders was making as much as $19,000 a month […]