(Globes, 12.May.2019) — 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 […]
Category: USA
US Secretary Perry Attends 2019 Concordia Americas Summit
(US DOE, 10.May.2019) — On Monday, May 13, 2019, U.S. Secretary of Energy Rick Perry will travel to Bogotá, 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 Concordia’s flagship regional […]
WoodMac: Chevron Exits Bidding War For Anadarko
(WoodMac, 9.May.2019) — 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 $336 Million In 1Q:19
(Braskem, 8.May.2019) — Braskem S.A. announces today its results for 1Q19. HIGHLIGHTS: Braskem – Consolidated: — Braskem’s recurring EBITDA was US$ 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) — 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) — 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) — 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 ‘Green Book’
(Exxon, 7.May.2019) — From its first print run in 1936 to its final edition in 1966, “The Green Book” 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) — 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) — 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 […]
Oxy’s $8.8bn Total Deal ‘May Soothe Anadarko Shareholder Jitters’
(WoodMac, 6.May.2019) — 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 Anadarko’s 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) — 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) — 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 México For Amoca Field Offshore
(McDermott, 30.Apr.2019) — McDermott International, Inc. announced the award of a contract by ENI México 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) — 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) — Enel Américas, 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 Américas is a company engaged in the electricity generation and distribution businesses in Argentina, Brazil, Colombia and Peru. Our […]
Venezuela’s Oil Industry Implosion Reaches Chevron
(Oilprice.com, Tsvetana Paraskova, 25.Apr.2019) — Massive blackouts in Venezuela in March and April have drastically reduced oil production at Chevron’s 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) — 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) — 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) — Heard on the street and LatAmNRG briefs related to a planned oil and gas sector march slated for 1 May 2019 in Venezuela and Nicolás 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) — Shell Offshore Inc. (“Shell”), 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. “Blacktip is […]
Occidental Makes $38bn Rival Bid for Anadarko
(WoodMac, 24.Apr.2019) — 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) — 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) — Royal Dutch Shell’s 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 […]
Venezuela Imports Crude For The First Time In Five Years
(Bloomberg, Lucia Kassai, 24.Apr.2019) — Oil production in Venezuela has dipped so low that the owner of the world’s largest reserves is importing crude for the first time in five years. The nation’s output fell below 1 million barrels a day to a 16-year low in March, amid rolling blackouts […]
Murphy Oil Dives Into Deepwater GOM With $1.6bn LLOG Bluewater Deal
(WoodMac, 23.Apr.2019) — Murphy Oil Exploration is poised to buy several deepwater Gulf of Mexico assets from LLOG Exploration for a total of US$1.625 billion, split into a US$1.375 billion cash payment and US$250 million in contingent payments. Most of the interest in the acquired assets are owned by LLOG […]
Sempra Completes $2.5Bn Divestiture Of Renewables, Non-Utility NatGas Assets
(Sempra, 22.Apr.2019) — Sempra Energy has completed the divestiture of its U.S. renewables business and non-utility natural gas storage assets, generating approximately $2.5 billion in total cash proceeds. The announcement comes with today’s completion of the sale of its remaining ownership interests in operating and development-stage wind assets to American […]
ExxonMobil Inks 20-year LNG Deal With Zhejiang Energy
(Exxon, 22.Apr.2019) — ExxonMobil said today that it signed a sales and purchase agreement with Zhejiang Provincial Energy Group for liquefied natural gas (LNG) supply. Under the agreement, Zhejiang Energy is expected to receive 1 million metric tons per annum of LNG over 20 years. — Zhejiang Energy to receive […]
Duke Finalizes Purchase Of 150MW Solar Project From Clearway Energy
(Duke, 22.Apr.2019) — Duke Energy Renewables, a subsidiary of Duke Energy, announced it has acquired the 150-megawatt (MW) North Rosamond solar project in Kern County, California from Clearway Energy Group. The North Rosamond solar project is Duke Energy Renewables’ sixth solar generation facility in Kern County. “North Rosamond is a […]
Venezuela Seeks To Collect Some Oil Payments Via Rosneft
(Reuters, 19.Apr.2019) — The cash-strapped government is becoming increasingly reliant on the Kremlin. Venezuelan state oil company PDVSA has asked at least two of its clients to make payments for Venezuelan oil via Russian state energy giant Rosneft, as it comes under pressure from U.S. sanctions, according to a PDVSA […]
Indian Refiners Turn To OPEC, Mexico, U.S. To Make Up Iran Oil Gap
(Reuters, 18.Apr.2019) — All four Indian state-owned refiners that buy Iranian oil are confident of securing additional barrels from other producers, officials from the companies told Reuters. Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian […]
Exclusive: Venezuela Skirts U.S. Sanctions By Funneling Oil Sales Via Russia
(Reuters, Marianna Parraga, 18.Apr.2019) — President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of the […]
Shell Awards Contract To Halliburton For Offshore Project In Brazil
(Chron.com, Sergio Chapa, 17.Apr.2019) — Royal Dutch Shell has awarded a three-year contract to Houston oilfield service company Halliburton to explore and develop two projects off the coast of Brazil. The projects are located in Brazil’s Campos and Santos Basins. The Campos Basin is 90 miles off the coast of […]
Altus Power Acquires 19 MW Operating Solar Portfolio
(Altus, 17.Apr.2019) — Altus Power America, Inc. completed the acquisition of a multistate operating portfolio of ground-mounted solar assets. The 19 megawatt (MW) DC portfolio of solar energy systems sell clean, renewable energy to offtakers ranging from regional and national utilities to various municipalities in Massachusetts, North Carolina and New […]
Cameron LNG Reaches Final Commissioning Stage Of First Liquefaction Train
(Sempra, 15.Apr.2019) — Sempra Energy announced that Cameron LNG has begun pipeline feed gas flow to the first liquefaction train of the liquefaction-export project as it prepares to begin production of liquefied natural gas (LNG) at the facility in Hackberry, La. This is the final commissioning step for Train 1 […]
This New Oil Hotspot Is Replacing Venezuelan Crude
(Oilprice.com, Tsvetana Paraskova, 15.Apr.2019) — The U.S. sanctions on Venezuela’s oil industry have tightened the global heavy to medium crude oil market, sending oil buyers scrambling for alternatives to the heavy Venezuelan oil. Refiners in the United States and Europe have started to replace Venezuela’s oil with some of […]
Chevron To Gain Anadarko’s Offshore Guyana Oil Assets After Takeover
(Stabroek News, 14.Apr.2019) — Guyana could see oil exploration activity in the ultra-deepwater region picking up pace in the near future with United States oil giant Chevron set to buy Anadarko Petroleum Corp, which holds an exploration licence for the Roraima Block offshore Guyana. As part of its crude and […]
Permian Water Disposal Volumes To Double By 2022: Wood Mac
(Wood Mac, 12.Apr.2019) — Water disposal volumes in the Permian Basin are expected to double within the next two to three years, new analysis from Wood Mackenzie shows. As drilling activity in the basin continues to expand, hydraulic fracturing has resulted in the growing challenge of how to source water, […]
Chevron Buys Anadarko In $50bn Cash-And-Stock Deal
(WoodMac, 12.Apr.2019) — Commenting on Chevron’s US$50 billion cash-and-stock acquisition of Anadarko, Roy Martin, senior analyst, corporate analysis, said: “This is the biggest upstream deal since Shell and BG in 2015. “Chevron now joins the ranks of the UltraMajors – and the big three becomes the big four.” Once the […]
Delek Acquires Shell Deepwater Assets, Expanding E&P Footprint
(Wood Mac, 11.Apr.2019) — Delek Group has stepped out of the Gulf of Mexico shelf and into the deepwater, signing an agreement to acquire Shell’s 22.45% non-operated interest in the Caesar-Tonga field in the Green Canyon protraction area for US$965 million. Commenting on the deal, Michael Murphy, research analyst with […]
Lights Dimming On Big Oil In Venezuela
(Argus, Patricia Garip, 10.Apr.2019) — Darkness has befallen Venezuela in more than one sense, and incumbent oil companies are scrambling for a ray of light. It was hard enough for western oil companies to operate in Venezuela before the lights went out in March. Now it is nearing impossible, at […]
US Acknowledges Guyana’s Right To Renegotiate Exxon Deal If It So Chooses
(Stabroek News, 10.Apr.2019) — The United States acknowledges that it is within Guyana’s sovereign right to renegotiate the controversial Production Sharing Agreement (PSA) between the country and ExxonMobil and its partners if it so chooses, recently accredited US Ambassador to Guyana, Sarah-Ann Lynch says. “We certainly believe that Guyana is […]
Mexican President Warns Retailers: Keep Gas Prices In Check
(Oilprice.com, Tsvetana Paraskova, 9.Apr.2019) — The Mexican government may consider creating a small network of gas stations that would sell gasoline at lower, “fair prices”, if gas station operators in the country don’t keep gas prices in check, Mexico’s leftist President Andrés Manuel López Obrador said on Tuesday. López Obrador—in […]
Texas’ Pete Olson Calls For Maduro To Release Citgo 6
(The Katy News, 8.Apr.2019) — Rep. Pete Olson (TX-22) issued the following statement calling on the Maduro regime to release the six Citgo executives, five of whom are Texans, who have been detained in Venezuela since November 2017: “The CITGO 6 are Texas and Louisiana residents who have been detained […]
KBR Awarded Pre-FEED Contract For BP’s Greater Tortue Ahmeyim Project
(KBR, 9.Apr.2019) — KBR, Inc. announced that BP has awarded KBR’s UK operating subsidiary the Pre-FEED Services contract for Phases 2 and 3 of BP’s Greater Tortue Ahmeyim project, for the further development of Tortue field beyond Phase 1, located at the maritime border of Senegal and Mauritania. These next […]
KBR Adds BHGE To Development Of Mid-Scale LNG Reference Design
(KBR, 8.Apr.2019) — KBR, Inc. announced it has selected Baker Hughes, a GE company, as part of the ongoing development of KBR’s standardized mid-scale Liquefied Natural Gas (LNG) design. The design utilizes ConocoPhillips’ Optimized Cascade® technology as part of a broader partnership previously announced by KBR and COP. The mid-scale […]
Students Put Energy Efficient Cars To The Test At Shell Eco-marathon Americas
(Shell, 7.Apr.2019) — Make the Future Live California featuring Shell Eco-marathon Americas drew more than 1,000 students to Sonoma Raceway to compete for the title of most fuel-efficient vehicle. Northern Illinois University of DeKalb, Illinois took home first place in the Internal Combustion Engine Prototype category with their gasoline-fueled vehicle […]
New U.S. Sanctions Seek To Block Venezuelan Oil Shipments To Cuba
(NYT, Annie Karni and Nicholas Casey, 5.Apr.2019) — The Trump administration announced on Friday its latest round of economic sanctions against the government of President Nicolás Maduro of Venezuela, this time aimed at oil shipments between Venezuela and Cuba, a country that the administration has accused of propping up Mr. […]
Indigo Natural Resources LLC Provides Operational Update
(Indigo, 4.Apr.2019) — Indigo Natural Resources LLC, a privately-owned natural gas and natural gas liquids company with assets in the Haynesville Shale, the Bossier Shale and the Holly Vaughn formation today provided an operational update focused on Indigo net production, midstream joint venture gathering throughput and year-end 2018 Indigo reserves […]
Venezuela Blackouts Cut Oil Output by Half During March
(Bloomberg Fabiola Zerpa, 4.Apr.2019) — Power failures that plunged Venezuela into darkness for much of March also briefly slashed the country’s crude production by half, according to people familiar with the situation. Rolling blackouts across much of the country that started on March 7 paralyzed most of the country’s oil […]