(JPT, Zillur Rahim, Saudi Aramco, 1.Jun.2019) â As gas development focuses more on tight and ultratight formations, the challenges to produce economically become diverse and more intense. One main challenge faced while fracturing a well is a high fracture gradient. This can be caused by near-wellbore tortuosity, drill-in-fluid-induced damage, high […]
Category: USA
Cameron LNG Ships Out First Commissioning Cargo From LNG Plant
(Sempra, 31.May.2019) â Sempra LNG, a subsidiary of Sempra Energy, announced that Cameron LNG has shipped the first commissioning cargo of liquefied natural gas (LNG) from the first liquefaction train of the export project in Hackberry, La. “This achievement brings Cameron LNG, one of Sempra’s five strategically located LNG infrastructure […]
Bristow Inks Five Year Deal With BP
(Energy Analytics Institute, Jared Yamin, 31.May.2019) â Bristow Group Inc. signed a new deal with BP plc to support its North Sea operations. The contract, with a five year primary term, commenced on 13 May, Bristow announced in an official statement. âThis award further builds on Bristow’s success in the […]
Canadian Solar Signs 1,800 MW Supply Deal With EDF Renewables North America
(Canadian Solar, 29.May.2019) â Canadian Solar Inc. announced that it has signed a multi-year module supply agreement with EDF Renewables North America to deliver 1,800 MW of high efficiency poly solar modules for projects in the US, Canada, and Mexico. Utilizing unique multi-year contractual terms, Canadian Solar will supply its […]
CNR Snaps Up Devon’s Canada Assets In US$2.8 Billion Deal
(WoodMac, 29.May.2019) â Canadian Natural Resources today announced a C$3.8 billion (US$2.8 billion) acquisition of Devon Energy’s Canadian assets, marking the company’s seventh major acquisition since 2014. Taking into account the subsequent corporate effects of the deal, Wood Mackenzie has valued the assets at US$3.7 billion. The assets include the […]
Scoot Awarded Permit To Operate Ebikes In Santiago, Chile
(Scoot, 28.May.2019) â Scoot, the original shared electric vehicle company, is launching their new shared ebike in the Las Condes district of Santiago, Chile. At a joint press event this weekend, Mayor Joaquin Lavin announced that Scoot had been awarded 650 permits to operate shared ebikes, making it the first […]
Energy Exports Help Laredo To Become Top U.S. Trade Hub
(Chron.com, Sergio Chapa, 28.May.2019) â Booming energy exports and shifting patterns in international commerce have made the Port of Laredo the nationâs top center for trade, supplanting the longtime leader, the Port of Los Angeles. In March, $20.1 billion of combined imports and exports moved through the Texas border city, […]
LatAmNRG Q&A With ANH Colombia: Exploratory Drilling To Start In 2H:20
(Energy Analytics Institute, Piero Stewart, 24.May.2019) â As part of Energy Analytics Instituteâs ongoing coverage of the Latin America and Caribbean energy sectors from conventionals, unconventionals to renewables, Colombiaâs Hydrocarbons National Agency (ANH) weighs in on some of our Colombia-related questions. What follows are excerpts from our series: LatAmNRG Q&A […]
Trinidad Petroleum Holdings Limited Announces Extension Of Expiration Date
(TPHL, 24.May.2019) â Trinidad Petroleum Holdings Limited announced the expiration date has been extended until 5:00 p.m., New York City time, on June 14, 2019, unless extended or earlier terminated (such time and date with respect to the Exchange Offers, as the same may be extended, the “Extended Expiration Date”), […]
First Small-Scale Waterside LNG Production Facility In The U.S. Is Operational
(JAX LNG, 23.May.2019) â JAX LNG, a liquefied natural gas facility located at Dames Point in Jacksonville, Florida, held a ribbon-cutting ceremony May 16 to signify the official start-up of the newly constructed plant. JAX LNG is the first small-scale LNG facility in the United States with both marine and […]
McDermott Says Freeport LNG Production to Start in 1Q:20
(Energy Analytics Institute, Jared Yamin, 23.May.2019) â McDermott International, Inc. reiterated its earlier notified schedule for the Freeport LNG project in Freeport, Texas. As disclosed on 29 April, the company still forecasts initial production of LNG for the third and final train to happen in the first quarter of 2020 […]
US Tells Foreign Cos To Stop Jet Fuel Trading With Venezuela
(Reuters, Julia Payne and Dmitry Zhdannikov, 23.May.2019) â The United States told some large foreign firms this week they should stop trading jet fuel with Venezuela or face sanctions, according to two industry sources, ratcheting up pressure intended at removing Venezuelan President Nicolas Maduro from power. U.S. State Department officials […]
Shell Commences Production At Appomattox Field In U.S. Gulf Of Mexico
(Shell, 23.May.2019) â Royal Dutch Shell plc, through its subsidiary Shell Offshore Inc (Shell) announces today that production has started at the Shell-operated Appomattox floating production system months ahead of schedule, opening a new frontier in the deep-water US Gulf of Mexico. Appomattox, which currently has an expected production of […]
CNOOC Limited Announces Appomattox Field Commences Production
(CNOOC, 23.May.2019) â CNOOC Limited announced the Appomattox Field in the US Gulf of Mexico has safely commenced production ahead of schedule. Appomattox Field is located approximately 128 kilometers southeast of Louisiana in the deep-water Gulf of Mexico, with water depth of approximately 2,255 meters. Appomattox is the first commercial discovery […]
Saudi Aramco And Sempra Energy Ink Largest LNG Deal For 6 Years
(WoodMac, 22.May.2019) â Sempra Energy and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA), which anticipates the negotiation and finalisation of a definitive 20-year sale-and-purchase agreement covering 5 million metric tons each year from the Port Arthur LNG […]
Colombiaâs Ecopetrol Says Exports To U.S. Up On Venezuela, Higher Output
(Reuters, 22.May.2019) â Colombiaâs state-run oil company Ecopetrol said on Wednesday its crude exports to the United States rose nearly 25% in the first quarter because of lower supply from neighboring Venezuela and higher production. The 4-week average for crude imports from Colombia have surged to near the highest levels […]
OPEC Founder Venezuela Pumps Less Oil Than Three Of Its Neighbors
(Bloomberg, Lucia Kassai, 20.May.2019) âVenezuela, which sits atop more oil than Saudi Arabia, has fallen behind three other Latin American countries as years of mismanagement and lack of investments take its toll. The OPEC founding member produced 740,000 barrels a day in March, while Colombiaâs oil reserves are less than […]
US Sanctions Mining Company Backing Maduro
(Reuters, 19.May.2019) â The United States imposed sanctions on Tuesday against Venezuelaâs state-run gold mining company Minerven and its president, Adrian Perdomo, accusing them of illicit operations and propping up the government of President Nicolas Maduro. The announcement comes days after Uganda said it was investigating its biggest gold refinery […]
US Targets Shippers For Bringing Venezuela Oil To Cuba
(AFP, 17.May.2019) â The United States last Friday imposed sanctions on two shipping companies for delivering Venezuelan oil to ally Cuba in what it called a response to actions against opposition lawmakers in Caracas. The Treasury Department said it was taking aim at the Monsoon Navigation Corp, headquartered in the […]
Gas Station Lines Reappear In Venezuela As Refinery Halts, Fuel Imports Plunge
(Reuters, Mircely Guanipa and Marianna Parraga, 16.May.2019) â Gas station lines reappeared across oil-rich but crisis-stricken Venezuela this week as gasoline imports plunged and the countryâs second-largest oil refinery halted operations. Shortages of motor fuel have become a periodic occurrence across OPEC member Venezuela, particularly in border regions where smuggling […]
Who Gets Venezuela’s Oil?
(CNN, Allan Dodds Frank, 16.May.2019) â Venezuela’s future is in limbo, as its embattled president continues to fend off a national movement for regime change. And whether President Nicolas Maduro consolidates his power, or opposition leader Juan Guaido takes control of the government, one longterm question hangs over the country’s […]
Venezuela’s Ad-Hoc PDVSA Board Begins Payment On Citgo-Backed 2020 Bond
(Reuters, Corina Pons and Mayela Armas, 16.May.2019) â Venezuelaâs ad-hoc board of directors for state oil company PDVSA, appointed by opposition leader Juan Guaido, said on Thursday it has made an interest payment on its bond maturing in 2020, delaying uncertainty over its crown jewel U.S. asset. The PDVSA bond […]
Sempra Energy Starts Production At Train 1 Of Cameron LNG Facility
(Sempra, 14.May.2019) â Sempra Energy announced that Cameron LNG has begun producing liquefied natural gas (LNG) from the first liquefaction train of the Cameron LNG export project in Hackberry, La. “Reaching this important milestone of first LNG production is truly a credit to the team at Cameron LNG and the […]
Pompeo, Putin Could Decide Venezuelaâs Fate
(Oilprice.com, Tsvetana Paraskova, 14.May.2019) â U.S. Secretary of State Mike Pompeo and Russian President Vladimir Putin are meeting on Tuesday to discuss various issues, including the fate of Venezuela and Nicolas Maduroâa hot topic for the oil market as geopolitical tensions have mounted in recent weeks. Secretary Pompeo will be […]
Equinor Boosts Stake In Caesar Tonga Field In Deepwater US GOM
(Equinor, 13.May.2019) â Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of USD 965 million in cash. This will increase Equinorâs interest from 23.55% to 46.00%. Anadarko remains the operator with a […]
Readout Of Secretary Perryâs Visit To Bogota, Colombia
(Energy.gov, 13.May.2019) â Today, U.S. Secretary of Energy Rick Perry was in BogotĂĄ, Colombia for the Concordia Americas Summit, a gathering of government and private sector leaders held to discuss a range of issues impacting Colombia and the broader Latin American region. Secretary Perry addressed the Summit about the desire […]
Delek’s US GOM Caesar Tonga Oil Acquisition Cancelled
(Globes, 12.May.2019) â One of the existing partners has exercised its first right of refusal on the rights in the Caesar Tonga oil field. The share price of Delek Group Ltd. is down about 1% following an announcement by the company this morning that a deal for the purchase of […]
US Secretary Perry Attends 2019 Concordia Americas Summit
(US DOE, 10.May.2019) â On Monday, May 13, 2019, U.S. Secretary of Energy Rick Perry will travel to BogotĂĄ, Colombia to participate in the 2019 Concordia Americas Summit. He is also scheduled to participate in bilateral meetings on the sidelines of the summit. The Americas Summit is Concordiaâs flagship regional […]
WoodMac: Chevron Exits Bidding War For Anadarko
(WoodMac, 9.May.2019) â Chevron Corporation today announced that it would not offer a counter proposal to Occidental Petroleum’s rival bid to acquire Anadarko Petroleum. Earlier this week, Anadarko said it had received an offer from Occidental that was superior to a previously-arranged deal with Chevron. Chevron said it would allow […]
Braskem Says Consolidated Recurring EBITDA Reached $336 Million In 1Q:19
(Braskem, 8.May.2019) â Braskem S.A. announces today its results for 1Q19. HIGHLIGHTS: Braskem – Consolidated: — Braskem’s recurring EBITDA was US$ 336 million, down 16% and 60% from 4Q18 and 1Q18, respectively, influenced by lower petrochemical spreads in the international market. Including non-recurring impacts, EBITDA was US$ 729 million, reflecting […]
CSI Compressco Announces 1Q:19 Results, Affirms Full Year Financial Guidance
(CSI, 8.May.2019) â CSI Compressco LP today announced first quarter 2019 consolidated financial results and provided updated 2019 full year guidance. Consolidated revenues for the quarter ended March 31, 2019 were $103 million compared to $138 million for the fourth quarter of 2018 and $85 million for the first quarter […]
Talos Energy Conference Call And Webcast Information
(Talos, 8.May.2019) â Talos Energy Inc. will host a conference call, which will also be broadcast live over the internet, on Thursday, May 9, 2019 at 10:00 am Eastern Time (9:00 am Central Time). Listeners can access the conference call live over the internet through a webcast link on the […]
Talos Energy Reports 1Q:19 Financial, Ops Results On Mexico And US
(Talos, 8.May.2019) â Talos Energy Inc. today announced its financial and operational results for the first quarter of 2019 and an operations update. Key highlights include: — Production of 42.0 thousand barrels of oil equivalent per day (“MBoe/d”), or 3.8 million barrels of oil equivalent (“MMBoe”) in total, 70% of […]
The Smithsonian Showcases The Historic âGreen Bookâ
(Exxon, 7.May.2019) â From its first print run in 1936 to its final edition in 1966, âThe Green Bookâ played a significant role in providing sanctuary for African-American travelers on the road from the 1930s to the 1960s. The guide, conceived by Harlem (New York City) mailman Victor Hugo Green, […]
Sempra Energy Reports Higher 1Q:19 Earnings
(Sempra, 7.May.2019) â Sempra Energy today reported first-quarter 2019 earnings of $441 million, or $1.59 per diluted share, up from first-quarter 2018 earnings of $347 million, or $1.33 per diluted share. On an adjusted basis, the company’s first-quarter 2019 earnings increased to $534 million, or $1.92 per diluted share, from […]
What Does IMO 2020 Mean For Downstream, Upstream, LNG and Bulks Sector
(Woodmac, 7.May.2019) â Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie’s Asia Pacific experts weigh in on what this means for the different sectors. Expect wider light-heavy and sweet-sour crude price differentials Research director Sushant Gupta […]
Oxyâs $8.8bn Total Deal âMay Soothe Anadarko Shareholder Jittersâ
(WoodMac, 6.May.2019) â In another bold move in its takeover battle with Chevron for Anadarko Petroleum, on 5 May said Occidental Petroleum entered into a binding agreement to sell Anadarkoâs Algeria, Ghana, Mozambique and South Africa assets to French major Total for US$8.8 billion. The deal is contingent on Oxy […]
Petrobras Completes Pasadena Refinery Sale To Chevron
(Petrobras, 1.May.2019) â Petrobras, following up on the release disclosed on 01/30/2019, informs that it has completed, through its subsidiary Petrobras America Inc. (PAI), the sale to Chevron USA Inc. (Chevron) of 100% of its shares in the companies that encompass Pasadena’s entire refining operations system in the United States. […]
Calling Students Ages 13-18 Years Old To Participate In Science And Math Contest
(Breakthrough, 1.May.2019) â The Breakthrough Prize Foundation announced today the launch of its fifth annual Breakthrough Junior Challenge, a global student science and mathematics competition designed to inspire creative thinking about fundamental concepts in the life sciences, physics and mathematics. All students must register at https://breakthroughjuniorchallenge.org and submit completed entries between […]
McDermott Awarded EPC Contract By ENI MĂ©xico For Amoca Field Offshore
(McDermott, 30.Apr.2019) â McDermott International, Inc. announced the award of a contract by ENI MĂ©xico for engineering, procurement and construction of wellhead platform one (WHP1) to be installed in the Amoca field, located approximately 18 miles (30 kilometers) offshore Dos Bocas in southeast Mexico. The four-deck topsides will have two […]
Oil Tops $73/bbl Then Pares Gains As Venezuela’s Maduro Claims Support
(Reuters, Collin Eaton , 30.Apr.2019) â Oil prices rose on Tuesday above $73 a barrel but then eased off the session high after Venezuela’s president Nicolas Maduro said military leaders remained loyal to his government despite an attempted coup that could further threaten the OPEC producer’s oil exports. Prices rose […]
Enel Américas Files 2018 Annual Report On Form 20-F
(Enel, 29.Apr.2019) â Enel AmĂ©ricas, announced today that its 2018 Annual Report on Form 20-F has been filed with the United States Securities and Exchange Commission on April 26, 2019. Enel AmĂ©ricas is a company engaged in the electricity generation and distribution businesses in Argentina, Brazil, Colombia and Peru. Our […]
Venezuelaâs Oil Industry Implosion Reaches Chevron
(Oilprice.com, Tsvetana Paraskova, 25.Apr.2019) â Massive blackouts in Venezuela in March and April have drastically reduced oil production at Chevronâs biggest oil joint venture in the country, Bloomberg reported on Thursday, citing data that it had compiled from company sources. Chevron holds a 30-percent stake in Petropiar, a joint venture […]
Newpark Resources Reports 1Q:19 Results, GOM Update
(Newpark, 25.Apr.2019) â Newpark Resources, Inc. today announced results for its first quarter ended March 31, 2019. Total revenues for the first quarter of 2019 were $211.5 million compared to $247.7 million for the fourth quarter of 2018 and $227.3 million for the first quarter of 2018. Net income for […]
DaVita Eyes Using 100 Pct Renewable Energy By 2022
(DaVita, 25.Apr.2019) â By 2022, DaVita Inc. expects to use 100 percent renewable energy. The company has contracted with Longroad Energy on two virtual power purchase agreements (PPAs) facilitating the development of clean energy projects in Texas. Together, DaVita’s share of these projects will generate as much renewable energy as […]
LatAmNRG Venezuela Briefs: Oil Worker March, Maduro Denounces Citgo Grab
(Energy Analytics Institute, Piero Stewart, 24.Apr.2019) â Heard on the street and LatAmNRG briefs related to a planned oil and gas sector march slated for 1 May 2019 in Venezuela and NicolĂĄs Maduro denouncing what he calls an illegal appropriation of Citgo by the Venezuelan opposition under the watchful gaze […]
Shell Announces Deep-Water GOM Discovery At Blacktip Prospect
(Shell, 24.Apr.2019) â Shell Offshore Inc. (âShellâ), a subsidiary of Royal Dutch Shell plc, today announced a significant discovery at the Blacktip prospect in the deep water U.S. Gulf of Mexico. Evaluation is ongoing and appraisal planning is underway to further delineate the discovery and define development options. âBlacktip is […]
Occidental Makes $38bn Rival Bid for Anadarko
(WoodMac, 24.Apr.2019) â Occidental Petroleum today put forward a rival bid to acquire Anadarko Petroleum for US$38 billion, surpassing Chevron’s US$33 billion offer earlier this month. Occidental proposes paying US$76 per share, roughly 20% more than Chevron‘s earlier offer of US$65 per share. Zoe Sutherland, corporate analyst at Wood Mackenzie, […]
Reuters Corrects Story Saying Venezuela Is Avoiding U.S. Sanctions by Funneling Oil Sales Through Russia
(The Moscow Times, 24.Apr.2019) â Reuters has corrected a story it published on April 18 saying Venezuela is funneling cash flow from oil sales through Russian state energy giant Rosneft to evade U.S. sanctions after Rosneft threatened to ban the international news agency from operating in Russia. The story, datelined […]
Shell Strikes Big Oil In Blacktip Well Of Gulf Of Mexico
(Reuters, 24.Apr.2019) â Royal Dutch Shellâs U.S. unit said on Wednesday that it had made one of its biggest oil discoveries in the Blacktip deepwater well in the U.S. Gulf of Mexico. Blacktip, operated by Shell and co-owned by U.S. oil giant Chevron Corp, Equinor ASA and Repsol, is the […]