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Pan American Silver Files Management Information Circular

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(Pan American Silver, 28.Dec.2022) — Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) filed the management information circular in respect of the special meeting of shareholders of Pan American to be held in connection with Pan American’s proposed acquisition of all of the issued and outstanding common shares of Yamana Gold Inc. […]

November 2022 – Commentary from Dan Pickering

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(Pickering Energy Partners, 28.Dec.2022) — November was a generally sidewise month for energy while the S&P500 enjoyed a bear market rally. The S&P500 gained +5.6% (-13.1% YTD). Energy lagged across the board. Diversified Energy gained +1.2% (S&P 1500 Energy, S15ENRS) with subsector performance as follows – Midstream +1.1% (AMZ), Upstream/E&P […]

Sempra Inks SPA with RWE for Port Arthur LNG

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(Sempra Infrastructure, 28.Dec.2022) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), today announced it has entered into a long-term sale and purchase agreement (SPA) with RWE Supply & Trading, a subsidiary of RWE (RWE: AG), for the supply of approximately 2.25 million tonnes per annum (Mtpa) of liquefied natural […]

Exchange Offers for Venezuelan Government and PDVSA Bonds

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(Canaima Fund Lux, 28.Dec.2022) — Canaima Fund Lux (“Issuer“), a securitization fund governed by the Luxembourg Law of 22 March 2004 on securitization undertakings, registered under number O27, and more precisely for and on behalf of the compartment named Canaima I (“Compartment“), with identification number ISIN XS2540585481  represented and managed by Canaima Capital Lux S.àr.l.arl, a […]

Talos Successfully Completes Fall Borrowing Base Redetermination

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(Talos, 27.Dec.2022) — Talos Energy Inc. (NYSE: TALO) announced that its current borrowing base was reaffirmed at $1.1bn as part of its semi-annual redetermination process for the fall of 2022. Effective upon closing of the previously announced acquisition of EnVen Energy Corporation, which is expected by early February of 2023, the xompany’s borrowing […]

Marathon Oil Completes Eagle Ford Acquisition

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(Marathon, 27.Dec.2022) — Marathon Oil Corporation (NYSE: MRO) today announced the completion of its acquisition of the Eagle Ford assets of Ensign Natural Resources for a total cash consideration of $3bn after taking into account closing adjustments. The acquisition was previously announced on 2 November 2022. “We are pleased to announce the close of […]

Oman LNG Signs 3 Binding Term-sheet Agreements with Japan

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(Oman LNG, 27.Dec.2022) — Oman LNG announced today the signing of binding sheet agreements with three (3) Japanese firms for the delivery of LNG, starting in 2025. ITOCHU Corporation, JERA Co., Inc. and Mitsui & Co, Ltd have become the latest beneficiaries of the Omani LNG for a total of […]

Open Uruguay Round: Second Instance 2022

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(ANCAP, 26.Dec.2022) — As a result of the Open Uruguay Round process approved by Decree 111/019, three bids for the exploration and production of hydrocarbons for two offshore areas of Uruguay were received in the second instance of 2022 (OFF-4 and OFF-5). YPF (www.ypf.com) submitted bids for areas OFF-4 and […]

Venture Global and Inpex Ink LNG SPA

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(Venture Global, 26.Dec.2022) — Today, Venture Global LNG and Inpex Corporation announced the execution of a long-term Sales and Purchase Agreement (SPA) for the purchase of one million tonnes per annum (1 MTPA) of liquefied natural gas (LNG) for 20 years. Under the agreement, Inpex Energy Trading Singapore Pte. Ltd. […]

Freeport LNG Updates on Restart of Liquefaction Facility

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(Freeport LNG, 23.Dec.2022) — Freeport LNG today updated the timing of the initial restart of its liquefaction facility. The company continues to make notable progress on its path towards the restart of liquefaction operations. As of 23 December 2022, the reconstruction work necessary to commence initial operations is substantially complete, […]

The Price of Energy Insecurity

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(IMF, 22.Dec.2022) — Climate change is an environmental issue. It’s also clearly an economic issue, and at the heart of the economics of climate change is energy security. The ripple effects of climate change and the impacts of energy security washed across the global economy throughout 2022, leaving few safe […]

Broxel Releases First Emissions Report

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(Broxel, 22.Dec.2022) — Broxel, a leading FinTech company in Latin America, released its first emissions report as part of the company’s commitment to become carbon neutral. The inaugural report includes Scope 1, 2, and 3 greenhouse gas (GHG) emissions, and outlines the company’s plan to meet climate targets. “This emissions report […]

QatarEnergy Inks Deal with QPD for Offshore Developments

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(QatarEnergy, 22.Dec.2022) — QatarEnergy and Japan’s Qatar Petroleum Development Company (QPD) have signed a new agreement for the continued development and production of the Al-Karkara and A-Structures oil fields, located in the territorial waters of the State of Qatar. This new 5-year agreement, which commences on 23 December 2022, succeeds […]

Open Uruguay Round [PDF Download]

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(Energy Analytics Institute, 22.Dec.2022) — South America’s Uruguay, a reliable country where above ground risks are minimized, is offering excellent opportunities for companies to acquire an asset with extremely low exploratory program requirements. Details follow ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.

Hess Achieves CDP Climate Change Leadership Status

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(Hess, 21.Dec.2022) — Hess Corporation (NYSE:HES) has been recognized for climate change stewardship in CDP’s Climate Change Scores for 2022. Hess has earned Leadership status for 14 consecutive years from CDP, an international nonprofit organization that runs a global environmental disclosure system. This year, Hess is one of only two U.S. oil and gas producers to achieve […]

Petrobras on the Start of P-71 Production

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(Petrobras, 21.Dec.2022) — Petrobras put into operation, this 21 December 2022, the P-71 platform vessel, installed in the Itapu field, in the Santos Basin pre-salt area, 200 km off the coast of Rio de Janeiro. The start of production has been anticipated, as it was originally scheduled for 2023. From […]

Cyprus: TotalEnergies Reveals New Gas Find Offshore in Block 6

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(TotalEnergies, 21.Dec.2022) — TotalEnergies and Eni (operator) have made a new gas discovery at the Zeus-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 and the Cronos-1 discoveries made on the same block respectively in 2018 and August 2022. The Zeus-1 well encountered 105 meters of net […]

Versalis’ New Technology to Produce Enzymes for 2nd Generation Ethanol

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(Eni, 19.Dec.2022) — Versalis, Eni‘s chemical company, has acquired the technology to produce enzymes for second-generation ethanol from DSM, a global, purpose-led company in Health, Nutrition & Bioscience. The agreement has a strategic value for Versalis as it integrates with proprietary Proesa® technology, applied at the Crescentino plant for the […]

Eni and Snam Form JV to Develop the Italy’s First CCS Project

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(Eni, 19.Dec.2022) — Today Eni Chief Executive Officer Claudio Descalzi and Snam Chief Executive Officer Stefano Venier signed an agreement to jointly develop and manage Phase 1 of the Ravenna Carbon Capture and Storage (CCS) Project, through an equal joint venture. The agreement also includes the implementation of studies and […]

TotalEnergies Wins New Exploration License in Brazil

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(TotalEnergies, 19.Dec.2022) — TotalEnergies, and its co-venturers QatarEnergy and Petronas Petróleo Brasil Ltda (PPBL) have won the Agua Marinha block today in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP). Petrobras has exercised their right to take 30% Participating Interest and Operatorship. […]

PSW Technology Awarded Contract for Deep-water Riser System 

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(Scana, 19.Dec.2022) — Scana-owned PSW Technology has signed an important agreement with Northern Ocean Operations Ltd. (“Northern Ocean”) for a deep-water riser system. The agreement involves the sale of a complete marine riser system to Northern Ocean for Ultra deep-water operations. The work also includes project management, inspection, repair and […]

PGS Expands MultiClient Coverage in Sabah Province

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(PGS, 19.Dec.2022) — PGS has secured pre-funding to expand MultiClient 3D coverage in the prospective Sabah platform province offshore Malaysia. The survey will cover approximately 3,500 square kilometers and Ramform Sovereign is scheduled to commence acquisition in January 2023 and the project is expected to complete in March. This survey is the […]

Uranium Energy Reports Results

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(Uranium, 19.Dec.2022) — Uranium Energy Corp (NYSE American: UEC) reported, in accordance with NYSE American requirements, the filing of the company’s quarterly report on Form 10-Q for the quarter ended 31 October 2022 with the U.S. Securities and Exchange Commission (SEC). This Form 10-Q filing, which includes the company’s interim […]

Hess CEO to Participate in Goldman Sachs Global Conference

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(Hess, 19.Dec.2022) — Hess Corporation (NYSE: HES) announced that John Hess, Chief Executive Officer, will participate in a Fireside Chat at the Goldman Sachs Global Energy and Clean Technology Conference on 5 January 2023 at 10:20 a.m. Eastern Time. A live webcast and a replay of the discussion will be accessible via Hess Corporation’s website. Hess Corporation is a leading global […]

Guyana: From Backwater to Deepwater

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(Foreign Policy, 16.Dec.2022) — Most South American economies have grown sluggishly this year. But Guyana has been an outlier—both in the region and the world at large. The small country is on track to boast the globe’s highest GDP growth rate of 2022—a staggering 57.8 percent—thanks to steadily rising output from […]

FID to Develop Yggdrasil (formerly NOAKA) Area

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(Aker BP, 16.Dec.2022) — Aker BP ASA has together with Equinor Energy and LOTOS Exploration & Production Norge AS made a final investment decision to develop the Yggdrasil area. Plans for development and operation was submitted to the Minister of Petroleum and Energy on 16 December 2022.  Yggdrasil, formerly known […]

Krafla to be Developed Using Ground-Breaking Concept

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(Equinor, 16.Dec.2022) — Along with Aker BP, Equinor has made an investment decision and will today submit a plan for development and operation for Krafla to the Minister of Petroleum and Energy. Aker BP will be developing Krafla along with the Fulla and North of Alvheim discoveries in the same […]

Brazil Bid Round Alert: Welligence

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(Welligence, 16.Dec.2022) — Brazil bid round alert! The first PSC Permanent Offer round was held today, with 4 of the 11 blocks on offer in the Santos and Campos basins awarded. The involvement of large international companies is encouraging, but most of the acreage awarded was lower risk, including areas […]

Biden-Harris Admin Approves $750mn for Hydrogen Technologies

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(US Department of Energy, 16.Dec.2022) — The Biden-Harris Administration, through the U.S. Department of Energy (DOE), today announced its intent to issue $750mn in funding from President Biden’s Bipartisan Infrastructure Law to dramatically reduce the cost of clean-hydrogen technologies. The funding is a crucial component of the administration’s comprehensive approach […]

Petrobras on ANP 1st Cycle Auction Result

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(Petrobras, 16.Dec.2022) — Petrobras acquired the Sudoeste de Sagitário, Água Marinha and Norte de Brava blocks in the 1st Cycle of Permanent Production Sharing Offer of the National Petroleum, Natural Gas and Biofuels Agency (ANP). Petrobras has acquired the Sudoeste de Sagitário block in partnership with Shell Brasil. The consortium […]

Great Panther Makes Voluntary Assignment into Bankruptcy

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(Great Panther, 16.Dec.2022) — Great Panther Mining Limited (OTCPK: GPLDK) made a voluntary assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada) (the “BIA”) following the Supreme Court of British Columbia granting an order terminating of its proceedings under Companies’ Creditors Arrangement Act (Canada) (the “CCAA”). Alvarez & Marsal Canada Inc. was appointed licensed insolvency […]

Aquadrill Announces Charter Hire Agreement for the Vela 

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(Aquadrill, 15.Dec.2023) — Aquadrill LLC extended a charter hire agreement with a subsidiary of Diamond Offshore Drilling, Inc. (the “manager”) to provide the company’s Vela rig, an MPD outfitted 7th generation drillship, for operations in the US Gulf of Mexico for a 150 day drilling contract with a total expected contract […]

Johan Sverdrup Phase 2 On Stream

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(Equinor, 15.Dec.2022) — At 11:15 on 15 December 2022 production started from Johan Sverdrup Phase 2. When the Johan Sverdrup field reaches plateau production, every third Norwegian oil barrel will come from this giant field, which for decades will be essential to ensuring high and stable energy deliveries from Norway. […]