(Braskem, 24.Feb.2020) â Braskem, the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, announces the use of construction blocks containing the Center for Regenerative Design & Collaboration’s (CRDC) RESIN8âą post-consumer plastic waste technology in the expansion of Braskem’s world-class Innovation and Technology (I&T) Center […]
Category: USA
Talos To Host 4Q:19 And YE:19 Earnings Call
(Talos 23.Feb.2020) â Talos Energy Inc. will release fourth quarter and full-year 2019 results for the period ended December 31, 2019 on Wednesday, March 11, 2020 after the U.S. financial market closes. The Company will host an earnings conference call, which will be broadcast live over the internet, on Thursday, […]
Latest Rosneft Sanctions Raise Risks For Others
(Reuters, 19.Feb.2020) â Washingtonâs move this week to sanction a trading unit of Russian oil giant Rosneft for its ties with Venezuelaâs state-run PDVSA escalated threats facing non-U.S. firms and will likely spur âovercomplianceâ by companies, analysts and industry sources said. The U.S. government on Tuesday blacklisted Rosneft Trading, SA, […]
Maduro Accused Of “Disappearing” US Oilmen
(AP, 19.Feb.2020) â Family members of six American oil executives jailed in Venezuela are accusing Nicolas Maduroâs government of âforced disappearanceâ after the men were inexplicably missing for the scheduled start of their trial on Wednesday. Veronica Vadell said that lawyers for her father, Tomeu Vadell, and the five other […]
US Blacklists Rosneft Unit
(Reuters, 18.Feb.2020) â The United States on Tuesday tightened financial restrictions on Venezuela, blacklisting a subsidiary of Russian state oil major Rosneft that President Donald Trump’s administration has said provides a lifeline to President Nicolas Maduro’s government. The sanctions announced by the U.S. Treasury Department increase the pressure on Russia, […]
Ending Putinâs Support Of Venezuela Not Easy For US
(AP, 18.Feb.2020) â In October 2016, the head of Russiaâs largest oil company traveled to the birthplace of Hugo ChĂĄvez, in the empty, sweltering plains of Venezuela, to unveil a giant bronze statue of the late socialist leader that he and his longtime friend, Russian President Vladimir Putin, commissioned from […]
Venezuela, Rosneft and US Sanctions Complications
(S&P Global Platts, 18.Feb.2020) â US efforts to starve Venezuelaâs Maduro regime of oil revenues have substantially increased the role of Russian energy in the US Gulf Coast, an outcome the Trump administration likely never anticipated when it put sanctions in place over a year ago. The situation has created […]
Talos Energy Announces 2020 Operating Guidance
(Talos 18.Feb.2020) â Talos Energy Inc. announced full year 2020 operating and financial guidance. The Company also announced that it expects to close the previously announced acquisition of affiliates of ILX Holdings, among other entities (the “Acquired Assets”, the “Acquisition”, or the “Transaction”), on February 28, 2020. The Company expects […]
Geronimo And Basin Electric Power Announce Deal
(Geronimo 18.Feb.2020) â Geronimo Energy, a National Grid company, and Basin Electric Power Cooperative (Basin Electric) announced execution of a Power Purchase Agreement (PPA) for the Wild Springs Solar Project (Wild Springs). Wild Springs is a 128 megawatt (MW) clean solar energy project located in Pennington County, South Dakota, approximately […]
Citgo Names Jack Lynch As Chief Compliance Officer
(Citgo, 11.Feb.2020) â Citgo Petroleum Corporation announced the appointment of Jack Lynch as the companyâs new Chief Compliance & Ethics Officer. Lynch will continue to serve as the Vice President of Legal & Government Affairs, a role he has held since October 2019. As Citgoâs new Chief Compliance & Ethics […]
PPGPL Acquires Twin Eagleâs Marketing Assets
(PPGPL, 7.Feb.2020) â Phoenix Park Gas Processors Limited announced its acquisition of a US entity. Effective February 1, 2020, PPGPL through its wholly owned US subsidiary, Phoenix Park Energy Marketing LLC, acquired the NGL marketing assets of Twin Eagle Liquids Marketing LLC. According to President Dominic Rampersad, âThrough this acquisition, […]
Guaido Rubbing Elbows In Surprise Foreign Trip
(Argus, 20.Jan.2020) â The US government is hoping a high-profile international tour by Venezuelan opposition leader Juan Guaido will re-inject momentum into its protracted campaign to unseat President Nicolas Maduro. Guaido turned up in Colombia today in the initial leg of his first journey outside Venezuela since an ill-fated February […]
Chevron Gets 4th Reprieve From Venezuela Sanctions
(Argus, 17.Jan.2020) â Washington will allow Chevron and four US oil field service providers to continue operating in Venezuela until 22 April by granting a fourth waiver late yesterday from US sanctions imposed almost a year ago on the Opec country. The US Treasury Department sanctions enforcement arm, the Office […]
After $1bn Venezuela Deal, US Oilfield Firm Shuts Doors
(Reuters, 12.Jan.2020) â An Oklahoma oilfield company that played a central role in Venezuela’s high profile attempt to convince the world it could halt production declines at its dilapidated oilfields has shut its doors, according to three people familiar with the matter. In 2016, Horizontal Well Drillers, a closely held […]
Citgo Announces Small Grants Program Winners
(Citgo, 24.Jan.2020) â The SimĂłn BolĂvar Foundation Inc. (SBF), a non-profit, private foundation of CITGO Petroleum Corporation, awarded seven grants totaling $100,000 to nonprofits that expand access to medicine, health care services, and health education to vulnerable individuals in and from Venezuela. The grant winners were recognized at an SBF […]
Mitsubishi, Patria, And Shell Report On Azul Power Plant
(MHPS, 7.Jan.2020) â Mitsubishi Hitachi Power Systems Americas (MHPS), Patria Investments, and Shell announced the signing of a contract with Brazilâs State-owned development bank (BNDES) to finance the gas-powered Marlim Azul Energia power plant, in MacaĂ© (Rio de Janeiro State). The loan approved by the bank for the construction of […]
Petrobras Names JP Morgan New ADR Depositary Bank
(Petrobras, 30.Dec.2019) â Petrobras announced that JP Morgan Chase will be the new representative of the American Depositary Receipt (ADR) program for its shares traded in the New York Stock Exchange (NYSE) from 1 January 2020 to 31 December 2024. ADR holders may call the new depositary bank at 1-800-990-1135 […]
US Cuts Venezuelan Flows Plans For China, Rosneft
(S&P Global Platts, 24.Dec.2019) â US sanctions on PDVSA shut down roughly 500,000 b/d of crude flows from Venezuela to Gulf Coast refineries within a matter of weeks after being imposed in January, and helped cut the South American nation’s oil production roughly in half before the end of the […]
Cameron LNG Facility Begins Production At Train 2
(Sempra LNG, 23.Dec.2019) â Sempra LNG, a subsidiary of Sempra Energy, announced that Cameron LNG has begun producing liquefied natural gas (LNG) from the second liquefaction train of the export facility in Hackberry, La. “We are pleased to reach this important milestone in the development of the liquefaction facility,” said […]
US Says Maduro Rigging Coming Vote
(NYT, 20.Dec.2019) â At stake is control of the countryâs National Assembly, which is controlled by the opposition leader Juan GuaidĂł, who has accused President NicolĂĄs Maduro of corruption. The United States accused President NicolĂĄs Maduro of Venezuela on Friday of trying to rig a coming election for control of […]
Hecate’s Solar Project To Assist El Paso Electric
(Hecate, 19.Dec.2019) â Hecate Energy announced its proposed 100 MW Santa Teresa solar project has been selected by El Paso Electric Company (EPE) as part of a 350 MW solar and storage Request for Proposals (RFP) process designed to add new clean resources to the EPE system. Pending necessary regulatory […]
Bolivia, US Officials Discuss Hydrocarbon Sector
(Energy Analytics Institute, Ian Silverman, 17.Dec.2019) â A delegation accompanying US representative Bruce Williamson meet with Boliviaâs Hydrocarbon Minister VĂctor Hugo Zamora to discuss possibilities that the two countries work together on matters related to the hydrocarbon sector. âSince the US is the largest producer of crude oil in the […]
Total Advances Two Deepwater GOM Projects
(Total, 16.Dec.2019) â Total announces the final investment decision (FID) to develop the Anchor oil field. Additionally, front-end engineering and design (FEED) has begun for the North Platte discovery. Both projects are located in the deepwater U.S. Gulf of Mexico, off the coast of Louisiana. FID for Anchor Project Total […]
S&P Releases 2020 Energy Outlook
(S&P Global Platts, 11.Dec.2019) â Analysts at S&P Global Platts, the leading independent provider of information, analysis and benchmark prices for the commodities and energy markets, today released their 2020 outlook. The outlook presumes continued high geopolitical risks to oil supply, a slight recovery in oil demand driven by IMO […]
Talos Announces GOM Acquisition
(Talos, 10.Dec.2019) â Talos Energy Inc. entered into a series of definitive agreements to acquire a broad portfolio of U.S. Gulf of Mexico producing assets, exploration prospects and acreage from affiliates of ILX Holdings, Castex Energy and Venari Resources for $640 million as of the effective date. Specifically, Talos has […]
Barkindo Says US Sanctions On Venezuela Unhealthy
(Energy Analytics Institute, Piero Stewart, 10.Dec.2019) â OPEC Secretary General Mohammad Barkindo assured that unilateral sanctions imposed on member countries of the organization are unhealthy for the efficient functioning of the oil market. âThe oil that Venezuela produces and exports belongs to the entire world. As a large oil producing […]
EOG Resources Declares Quarterly Dividend
(EOG, 10.Dec.2019) â The Board of Directors of EOG Resources, Inc. declared a dividend of $0.2875 per share on EOG’s Common Stock, payable 31 January 2020, to stockholders of record as of 17 January 2020. The indicated annual rate is $1.15. ***
Commercial Operation Starts at Freeport LNG Project in Texas
(Osaka Gas, 10.Dec.2019) â Osaka Gas USA announced that the Freeport LNG Project in Texas, the United States, has started commercial operation for its first liquefaction train on 8 December 2019. Osaka Gas Co., Ltd. and JERA Co., Inc. participate in the project through FLNG Liquefaction, LLC (âFLIQ1â). FLIQ1 made […]
Venezuela Releases âCitgo 6â
(Chron.com, Sergio Chapa, 9.Dec.2019) â Six executives of Houston refiner Citgo are out of a Venezuelan prison, according to a late Monday report by Reuters. After spending two years in prison on corruption charges, Jose Luis Zambrano, Alirio Zambrano, Jorge Toledo, Tomeu Vadell, Gustavo Cardenas and Jose Pereira are said […]
Sempra Declares Common And Preferred Dividends
(Sempra, 9.Dec.2019) â The Sempra Energy board of directors declared a quarterly dividend of $0.9675 per share of common stock. The common stock dividend is payable Jan. 15, 2020, to common stock shareholders of record at the close of business on Dec. 30, 2019. The company’s board of directors also […]
NY Reserve Bank To Hold Guyana Oil Revenues
(Stabroek News, 7.Dec.2019) â Guyanaâs Natural Resource Fund (NRF), which will hold oil revenues, is to be located in the Federal Reserve Bank of New York rather than the Central Bank of Guyana, Minister of Finance Winston Jordan has revealed. âWe are in the process of getting the requirement to […]
CITGO Reports 3Q Results
(Citgo, 6.Dec.2019) â Citgo Petroleum Corporation reported strong financial and operational performance as the Board of Directors reviewed with the Shareholder the companyâs performance during the first nine months of 2019 at a meeting at Citgo headquarters in Houston. The report included net income of $270 million for the first […]
Petrobras Plans $34bn In Dividends
(Bloomberg, Simon Casey and Sabrina Valle, 5.Dec.2019) â Petrobras plans to pay its shareholders $34 billion in dividends over the next five years as it cuts debt and sells assets to shore up its finances, CEO Roberto Castello Branco said. The plan is a major shift for the state-controlled oil […]
Petrobras Host Investor Day In NYC
(Energy Analytics Institute, Aaron Simonsky, 4.Dec.2019) â Brazilâs state-controlled oil giant Petrobras hosted media and analyst during its annual investor day event in New York City on Dec. 4, which was followed by another in London on Dec. 6. What follows is the link to the 51-page presentation: Petrobras Investor […]
LatAm, US Ban Travel For Venezuela’s Maduro, Allies
(Reuters, Luis Jaime Acosta, 3.Dec.2019) â Fifteen countries in the Americas agreed on Tuesday to ban 29 Venezuelans, including the oil-producing countryâs president, Nicolas Maduro, and his close allies, from traveling within their borders as part of diplomatic efforts to push him to step down. The meeting included representatives from […]
Venezuela And Cuba âCircumvent Sanctionsâ
(Miami Herald, Jim Wyss and Nora Gamez Torres, 3.Dec.2019) â Washington continued to tighten its grip on Venezuela and Cuba on Tuesday, naming six oil tankers that deliver fuel from the South American nation to the island as âblocked property.â The action â just the latest in a series of […]
US Acts Against Movement Of Venezuelan Oil To Cuba
(US Department of State, 3.Dec.2019) â On December 3, the United States identified six PDVSA-owned vessels, pursuant to E.O. 13884 or 13850, being used by the former Maduro regime to ship oil to Cuba, announced US Secretary of State Michael R. Pompeo. Related Story: OFAC Adds Six Vessels To List […]
OFAC Adds Six Vessels To List
(Piero Stewart, Energy Analytics Institute, 3.Dec.2019) â The US Department of the Treasuryâs Office of Foreign Assets Control (OFAC) add six vessels to its SDN list as of 3 Dec. and as follows. — ICARO Crude Oil Tanker Panama flag; Vessel Registration Identification IMO 9038842 (vessel) [Venezuela-EO13884] (Linked To: PDVSA). […]
Invenergy Expands Via Deal With Colombia’s EPM
(Invenergy, 2. Dec.2019) â Invenergy executed a strategic partnership agreement with Empresas Publicas de Medellin (EPM), one of Colombia’s largest public electric utilities, to develop, build, and operate large-scale wind and solar energy projects in Colombia. This partnership combines Invenergy’s renewable development and operational expertise with EPM’s domestic know-how to […]
Maduro Sent $900mn In Oil To Cuba, U.S. Official Said
(El Nuevo Herald, Nora GĂĄmez Torres, 27.Nov.2019) â Embattled leader NicolĂĄs Maduro sent about $900 million in oil to Cuba this year despite the humanitarian crisis in Venezuela, a U.S. top diplomat told reporters on Wednesday. The U.S. special envoy for Venezuela, Elliott Abrams, said that Maduro has the money […]
Venezuela-linked Sanctions Put Floor Under Oil Spreads
(S&P Global Platts, 27.Nov.2019) â The benchmark Dubai crude futures market structure moved higher in mid-morning trade in Asia Wednesday as new sanctions imposed on a Cuban company over its links to Venezuelan oil tradingput the focus back on the global supply shortage of medium and heavy high sulfur crudes. […]
Rosneft Undermining US Plans In Venezuela?
(Atlantic Council, Matthew Bryza, 27.Nov.2019) â US President Donald Trump is conducting policies of âmaximum pressureâ on two countries, Venezuela and Iran. In Venezuela, Russiaâs state-owned oil company, Rosneft, actively undercuts this US policy by helping Caracas circumvent Washingtonâs tough economic sanctions. Yet Washington has not applied broad sanctions against […]
Conoco Seeks Seizure Of Citgo Parent
(Reuters, 26.Nov.2019) â U.S. oil company ConocoPhillips on Tuesday filed a motion in a Delaware court seeking to seize shares in the parent of U.S. refiner Citgo Petroleum to collect on an arbitration award against Venezuelan state oil company PDVSA. Citgo, a PDVSA subsidiary and Venezuelaâs crown jewel overseas asset, […]
Ecopetrol Targets Higher CAPEX In 2020
(Ecopetrol, 25.Nov.2019) â Ecopetrol S.A. reported that in 2020 the Ecopetrol Group (GE) plans to invest an expected US$4.5 to US$5.5 billion, 25% to 53% higher than the estimated 2019 figure for organic investment. The plan approved by the Board of Directors, which prioritizes opportunities under strict capital discipline, is […]
Valaris Announces New Contract Awards
(Valaris, 25.Nov.2019) â Valaris plc announced new contracts and contract extensions, with associated revenue backlog of approximately $285 million, awarded subsequent to a prior fleet status report dated October 25, 2019. — VALARIS DS-18 (Relentless) contract extended due to the exercise of a one-well priced option with EnVen in the […]
Pemex Cyberattack Has US Cos. Taking Precautions
(Chron.com, Sergio Chapa, 25.Nov.2019) â American oil companies operating south of the border are stepping up their cybersecurity measures after reports of a ransomware attack that allegedly knocked out computers at Mexico’s state-run oil company Petroleos Mexicanos, or Pemex. Mexican media outlets have been reporting over the past two weeks […]
BPC And Baker Hughes Seal Bahamas Deal
(Offshore Energy, 22.Nov.2019) â Bahamas Petroleum Company (BPC) has finalized an agreement with Baker Hughes for the provision of equipment for its first exploration well in The Bahamas in 2020. However, the company is still working to secure the financing and finalize a rig contract with Seadrill. In August 2019, […]
Third Circuit Rejects Citgo Rehearing
(Argus, Elliott Blackburn, 21.Nov.2019) â Federal appeals court judges have denied Venezuela’s request to rehear a July decision upholding the pursuit of the country’s US refining subsidiary Citgo to satisfy billions of dollars of debts. The US Third Circuit Court of Appeals denied a request to hear arguments on the […]
US Court Denies Citgo Rehearing
(S&P Global Platts, 21.Nov.2019) â A US appeals court Thursday denied Venezuela’s request for it to reconsider its ruling allowing a PDVSA creditor to go after US refiner Citgo, its most valuable foreign asset. The ruling by 13 judges on the US 3rd Circuit Court of Appeals in Philadelphia upholds […]
Venezuela Opposition In Citgo Deal
(Reuters, 19.Nov.2019) â Venezuelaâs opposition has reached a deal with the custodians of a bond issued by state oil company PDVSA to prevent bondholders from seizing U.S. refining subsidiary Citgo, the bondâs collateral, until May, according to court filings and a source. The opposition-appointed PDVSA board, which is recognized in […]