(Reuters, 26.Aug.2022) â President Jair Bolsonaro said on Friday he has authorized Minister of Mines and Energy Adolfo Sachsida to consider the privatization of oil company Petrobras next year, if the president is re-elected in October. “Sachsida has this idea. I gave him the green light to discuss privatization of […]
Lulaâs Plan to Keep Petrobras State-Controlled Is a Mistake, Minister Says
(Bloomberg, 26.Aug.2022) â Luiz Inacio Lula da Silvaâs plan to keep Brazil oil giant Petroleo Brasileiro SA as a state-controlled company if elected again is a mistake, according to Energy Minister Adolfo Sachsida. Former president Lula, the front-runner for the October elections, has been promising to reverse years of cost […]
Moody’s Changes Ultrapar’s Outlook to Stable from Negative
(Moody’s, 26.Aug.2022) â Moody’s Investors Service affirmed Ultrapar ParticipaçÔes S.A.‘s Ba1 Corporate Family Rating and the Ba1 rating of the Backed Senior Unsecured Notes issued by Ultrapar International S.A., guaranteed by Ipiranga Produtos de Petroleo S.A. and Ultrapar. The outlook was changed to stable from negative. Affirmations: Issuer: Ultrapar Participacoes […]
Essar Inks $2.4bn Sale Pact with AM/NS for Infra Assets
(Essar, 26.Aug.2022) â In one of the largest post-pandemic M&A deals in India, Essar announced signing definitive agreements with Arcelor Mittal Nippon Steel (AM/NS) for certain Ports and Power infrastructure assets which are primarily captive to Hazira steel plant operations. The deal also envisages a 50-50 Joint Venture partnership, for […]
Mantaro Precious Metals Buys 51% Interest in Golden Hill Property
(Mantaro, 25.Aug.2022) â Mantaro Precious Metals Corp. (TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) has exercised its option to acquire a 51% in the share capital of Minera Golden Hill S.R.L. (“MGH”), which owns the Golden Hill Property, located in Bolivia. In order to exercise its option to acquire an initial 51% of the shares […]
TotalEnergies to Divest 49% Interest in Russian Termokarstovoye Gas Field
(TotalEnergies, 26.Aug.2022) â On 22 March 2022, TotalEnergies publicly shared its principles of conduct for its Russian related business. TotalEnergies reiterated its firmest condemnation of Russia’s military aggression against Ukraine and stated that it would ensure strict compliance with current and future European sanctions, no matter what the consequences on […]
CCUS Planned Capacity Nearing 1 Billion Tonnes Per Annum
(WoodMac, 26.Aug.2022) â The planned global carbon capture, utilisation and storage (CCUS) capacity pipeline has reached 905 million tonnes per annum (mtpa), with more than 50 new projects announced this quarter, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). These findings come from Wood Mackenzieâs âCCUS Market Update for Q2 2022â […]
Chinese Firm Takes Over Lifting Venezuelan Oil for Debt Offset
(Reuters, 26.Aug.2022) â China has entrusted a defense-focused state firm to ship millions of barrels of Venezuelan oil despite U.S. sanctions, part of a deal to offset Caracas’ billions of dollars of debt to Beijing, according to three sources and tanker tracking data. China National Petroleum Corp (CNPC) stopped carrying Venezuelan oil […]
CNOOC: Net Profit Doubled, Record-high Dividend Declared
(CNOOC, 25.Aug.2022) â CNOOC Limited (SEHK: 00883, SSE: 600938) announced its 2022 interim results for the six months ended 30 June 2022. During the period, the company focused on the main business sector of hydrocarbon exploration and development. It pressed ahead with the “three major programs”, namely, Reserves & Production […]
New Pacific Reports Financial Results
(New Pacific, 25.Aug.2022) â New Pacific Metals Corp. reports its financial results for the three months and year ended June 30, 2022.  All figures are expressed in US dollars unless otherwise stated. FISCAL 2022 HIGHLIGHTS Commenced the 2022 drill program at the Silver Sand Project which includes resource infill drilling to improve […]
Air Products to Provide Heat Exchangers for Qatar NFE LNG Project
(Air Products, 25.Aug.2022) â Air Products (NYSE: APD), a leader in liquefied natural gas (LNG) technology and equipment, has been awarded the contract to supply four end flash coil wound heat exchangers (CWHE) for the North Field East LNG Project in Ras Laffan Industrial City, Qatar. One of the end flash CWHE’s will be […]
Moody’s Affirms Ecopetrol’s Investment Grade Ratings
(Energy Analytics Institute, 25.Aug.2022) â Moody’s Investors Service affirmed Ecopetrol S.A.‘s (BVC: ECOPETROL; NYSE: EC) global credit rating at Baa3 with a negative outlook and downgraded its individual rating (BCA) from Ba1 to Ba3, the BogotĂĄ-based oil giant announced 25 August 2022 in an official statement. The rating agency said […]
First Hole HMN Li Project, Argentina Second Drill Rig on Site
(Lithium South, 25.Aug.2022) â Lithium South Development Corporation (TSX-V: LIS) (OTC-QB: LISMF) (Frankfurt: OGPQ) provided an update on the drilling campaign currently underway at the Hombre Muerto North Lithium Project (HMN Li Project) in Salta Province, Argentina. The first hole AS01 has now been completed to a depth of 270m. As the […]
Eco (Atlantic) Updates on Guyana and Namibia
(Eco Atlantic, 25.Aug.2022) â Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX â V: EOG) announced its results for the three months ended 30 June 2022. In addition, the company is notifying the market of an investor event to be held on 19 September 2022, details of which can be seen below. Today’s announcement […]
Petrobras Receives Transparency Trophy 2022
(Petrobras, 24.Aug.2022) â Petrobras was elected one of the ten companies with the most transparent financial statements in Brazil in the category of companies with net revenues over R$20bn. The recognition is granted annually by the National Association of Finance, Administration, and Accounting Executives (Anefac) to the Brazilian companies with […]
OPEC+ Deepens Support for Saudi Call to Weigh Supply Curbs
(Bloomberg, 24.Aug.2022) â OPECâs united front on possible action grew stronger, as more nations endorsed Saudi Arabiaâs view that supply curbs may be needed to stabilize world oil markets. Within 48 hours of comments from Saudi Arabian Energy Minister Prince Abdulaziz bin Salman that OPEC might have to curtail production, fellow […]
Energy Transfers Inks 2.1 MTPA Supply Deal with Shell
(Energy Transfer, 24.Aug.2022) â Energy Transfer LP (NYSE: ET) announced its subsidiary, Energy Transfer LNG Export, LLC, has entered into a 20-year LNG Sale and Purchase Agreement (SPA) with Shell NA LNG LLC related to its Lake Charles LNG project. Under the SPA, Energy Transfer LNG will supply Shell 2.1 million tonnes of LNG per annum […]
Astra Completes Phase II Drilling, Extends Paciencia Vein to 2.1km
(Astra Exploration, 23.Aug.2022) â Astra Exploration Inc. (TSX-V: ASTR, OTCQB: ATEPF) has completed 3,976 metres of RC drilling in 15 holes at its Pampa Paciencia Project located in Northern Chile. Highlights 100% of holes intersected quartz veins, stockworks or veinlets close to target depths 11 holes were drilled to expand […]
Freeport LNG Eyes Partial Restart in November 2022
(Freeport LNG Development, 23.Aug.2022) â Freeport LNG Development, L.P. has completed a detailed assessment of alternatives for resuming operations at its liquefaction facility following the 8 June 2022 incident and has identified a recovery plan for reinstatement of partial operations that it believes ensures the long-term safety and integrity of […]
TotalEnergies Reveals Initial Power at Scotland Offshore Wind Farm
(TotalEnergies, 23.Aug.2022) â TotalEnergies and its partner SSE Renewables, announced first power generation from the Seagreen offshore wind farm, 27km off the coast of Angus in Scotland. The first turbine, of a total of 114, was commissioned in the early hours of Monday morning. The aim is for the 1075 […]
APA Corp. Reveals First Find in Suriname Block 53; Plugs Dikkop
(APA Corp., 23.Aug.2022) â APA Corporation (Nasdaq: APA) announced an oil discovery offshore Suriname at Baja-1 in Block 53 and provided an update on recent drilling operations at Dikkop-1 in Block 58. Block 53 Baja-1 was drilled to a depth of 5,290 meters (17,356 feet) and encountered 34 meters (112 […]
KAPSARC: Investment Challenges Affecting the Oil and Gas Industry
(Energy Analytics Institute, 22.Aug.2022) â Research Lead Hamid M. Al Sadoon and and Research Fellow Julio Arboleda with the King Abdullah Petroleum Studies and Research Center (KAPSARC) recently wrote in a research report that the âunprecedented oil price collapse of April 2020, in the wake of a fall of more […]
Guyana Oil Production Data Available to the Public
(Energy Analytics Institute, 22.Aug.2022) â Guyanaâs Ministry of Natural Resources announced that the countryâs oil production data is now available for public consumption. The data is available via the ministryâs Petroleum Management Programme website. The website was created in 2021 to provide information and updates relating to Guyanaâs oil sector […]
Inflation Reduction Act of 2022 – What it Means for You?
(US DOE, 22.Aug.2022) â One of President Biden’s signature accomplishments, the Inflation Reduction Act of 2022 (IRA), has been signed into law. This mark’s the largest investment in clean energy in our nation’s history. Along with its signature companion laws the CHIPS and Science Act and the Bipartisan Infrastructure Law of 2022, the final pieces necessary […]
AGE’s Ali Moshiri eyes revitalization of Venezuela hydrocarbon industry
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 26.Aug.2022, Words: 89) â Amos Global Energy Management LLC or AGE, a Houston-based independent oil & gas company focused on the acquisition and development of international upstream assets, continues to see and pursue potential in Venezuela’s hydrocarbon industry, according to the companyâs […]
The NGC Group Returns to Profitability in 2021
(NGC, 22.Aug.2022) â The NGC Group of Companiesâ financial performance for 2021, demonstrated a significant turnaround in profitability, as it successfully navigated the global energy landscape during that year. The Group recorded a profit of TT$2.6B for the financial year ended 31 December 2021. This profit is a far cry […]
Eni Makes Significant Gas Find Offshore Cyprus
(Eni, 22.Aug.2022) â Eni announces a significant gas discovery in the Cronos-1 well drilled in Block 6, 160 km off Cyprus coastline, in 2,287 meters of water depth. The Block is operated by Eni Cyprus holding 50% interest with TotalEnergies as partner. Preliminary estimates indicate about 2.5 TCF of gas […]
TotalEnergies Reports Significant Gas Find Offshore Cyprus in Block 6
(TotalEnergies, 22.Aug.2022) â TotalEnergies and Eni (operator) have made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018. Located at approximately 160 km southwest of the Cyprus coast, Cronos-1 encountered several good quality […]
Irfaan Ali: Oil, Gas Boom Will Ensure Guyana’s Future
(Trinidad and Tobago Newsday, 21.Aug.2022) â Guyanese President Dr Mohamed Irfaan Ali said the oil and gas boom Guyana is experiencing will ensure the countryâs future economy but it will not be the focus. He said the country had 18 billion barrels of proven reserve and by 2026 it should […]
Petrobras BODs Approves Issuance of Commercial Notes
(Petrobras, 19.Aug.2022) â Petrobras hereby informs that the Executive Board approved on 18 August 2022, the 1st issuance of book-entry commercial notes (Issuance), without collateral and personal guarantee, in up to two series (Book-entry Commercial Notes), which will be subject to public distribution, with restricted distribution efforts, under mixed regime […]
ConocoPhillips Gets $8.5B Venezuela Award OK’d In DC
(Law360, 19.Aug.2022) â ConocoPhillips won approval on Friday to enforce an $8.5 billion arbitral award against Venezuela despite the country ignoring the litigation for more than two years, after a federal judge in Washington, D.C., ruled that Caracas’ chances of success in an ongoing annulment proceeding are minimal. Turning first to […]
Petrobras on Divestment of Refining and Logistics Assets
(Petrobras, 19.Aug.2022) â Petrobras, following up on the releases disclosed on 27 June 2022 and 15 July 2022, informs the beginning of the non-binding phase in the processes of sale of assets in refining and associated logistics in the country, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, […]
Subsea 7 Awarded Floating Wind FEED Contract in South Korea
(Energy Analytics Institute, 18.Aug.2022) â Subsea 7 was awarded a floating wind FEED contract by Corio and TotalEnergies for a floating wind development in South Korea. The project, the Gray Whale 3 project, is a 504MW development located some 60 to 70 kilometers offshore from Ulsan, Subsea 7 announced 18 […]
ARMM Enters into Business Combination with Current Energy and Renewables Corp.
(ARMM Inc., 18.Aug.2022) â ARMM Inc. (OTCQB: ARMM) entered into a binding letter of intent with Current Energy and Renewables Corp. (“CER”), a supplier of renewable and traditional energy to commercial and industrial clients in deregulated markets. CER was established in 2017 and is headquartered in Scottsdale, Arizona. David Coburn, CER’s Chief Executive Officer, […]
Petrobras Concludes Ibiritermo S.A. Acquisition
(Energy Analytics Institute, 18.Aug.2022) â Petrobras finalized the acquisition of Edison S.p.A.‘s 50% stake in Ibiritermo S.A. while the transfer of Usina TermelĂ©trica IbiritĂ© to Petrobras has been carried out. Petrobras now holds 100% of the shares of Ibiritermo and has exclusive ownership of UTE IbiritĂ©, the Rio de Janeiro-based […]
Gran Tierra Energy Reveals New $150mn Credit Facility
(Gran Tierra, 18.Aug.2022) â Gran Tierra Energy Inc. (NYSE:GTE) (TSX:GTE) (LSE:GTE) announced that it has, through its wholly owned subsidiaries Gran Tierra Energy Colombia, LLC and Gran Tierra Colombia Inc., entered into a credit facility of up to $150mn. The facility replaces Gran Tierra’s previous credit facility that had a borrowing […]
Maersk Drilling Releases Fleet Status Report on 2Q:22 Activity
(Energy Analytics Institute, 18.Aug.2022) â Maersk Drilling announced that the total firm value of contracts and extensions awarded to the company during the second quarter 2022 (2Q:22) was approximately $0.2bn. At 30 June 2022, contract backlog amounted to $2bn, the company announced in its most recent Fleet Status Report (19 […]
CVM Rejects ANAPETRO Shareholder Meeting Request
(Energy Analytics Institute, 17.Aug.2022) â Petrobras received a letter on from the Brazilian Securities and Exchange Commission (CVM) informing that the Collegiate of the CVM decided to reject the request made by the National Association of Petroleum Workers Minority Shareholders of Petrobras (ANAPETRO) to interrupt the advance notice period for […]
Brazil’s ANP Opens Permanent Bid Round for 11 Offshore Blocks
(Energy Analytics Institute, 17.Aug.2022) â Brazilâs National Petroleum, Natural Gas and Biofuels Agency (ANP) published details 17 August 2022 in the South American countryâs Official Gazette (DOU) regarding the timeline for the 1st Permanent Cycle bid round for 11 crude oil and natural gas exploration blocks under a production sharing […]
Touchstone Announces Approval of Cascadura Certificate
(Touchstone, 17.Aug.2022) â Touchstone Exploration Inc. (TSX, LSE:TXP) announced on 16 August 2022 that it received a Certificate of Environmental Clearance (“CEC”) to conduct development operations within the Cascadura area of the Ortoire block from the Trinidad and Tobago Environmental Management Authority. Touchstone has an 80 percent operating working interest […]
Höegh LNG Partners LP to Host 2Q:22 Results Call
(Energy Analytics Institute, 17.Aug.2022) â Höegh LNG Partners LP (NYSE: HMLP) will release its second quarter 2022 results on Wednesday 24 August 2022 before the market opens and later host a call to present the results at 8:30 a.m. (EST). The results and presentation material are available for download at http://www.hoeghlngpartners.com, […]
LONGi and ACESOL to Promote Solar Energy Development in Chile
(Energy Analytics Institute, 16.Aug.2022) â LONGi, involved in the manufacture of mono-crystalline photovoltaic modules and cells, has joined the network of associates of the Chilean Association of Solar Energy A.C. (ACESOL), to contribute to its mission of promoting the development of solar energy in Chile. With this alliance, LONGi supports […]
Petrobras on the Divestment of Potiguar Basin Exploration Assets
(Petrobras, 16.Aug.2022) â Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of 40% of its interest in the BM-POT-17 exploratory concessions, in which the Discovery Assessment Plan for the Pitu well is being developed (Blocks POT-M-853 and POT-M-855), and the POT-M-762_R15 concession (Block POT-M-762), […]
Petrobras on Letter Regarding Controlling Shareholder
(Energy Analytics Institutes, 15.Aug.2022) â Petrobras, following up on press statements it distributed on 20 July 2022 and 11 August 2022, says it has received an official letter from Brazilâs Ministry of Mines and Energy (MME) ratifying the nomination by the controlling shareholder of Mr. JĂŽnathas Assunção Salvador Nery de […]
Are Talks Over Detained Americans Slowing the Fight for Democracy in Venezuela?
(CNN, 16.Aug.2022) â A growing number of US citizens are being detained in Venezuela — and though exactly how many is unknown, the detentions could give authoritarian leader Nicolas Maduro leverage in frosty relations with Washington. Since 2019, the US and dozens of other countries around the world have said they do […]
Ecopetrol Inks Electric Energy Commercialization Deal with Gecelca S.A. E.S.P.
(Ecopetrol, 16.Aug.2022) â Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) hereby informs that, on the occasion of its withdrawal from the electric energy commercialization activities, derived from the acquisition of 51.4% of the outstanding shares of InterconexiĂłn ElĂ©ctrica S.A. E.S.P. and in compliance with the energy regulation in Colombia, it entered into an electric […]
NFE and Apollo Complete $2bn LNG Maritime JV
(New Fortress Energy, 15.Aug.2022) â New Fortress Energy Inc. (NASDAQ: NFE) and Apollo (NYSE: APO) have completed the previously announced Joint Venture, establishing a platform which now owns and operates 11 liquefied natural gas (âLNGâ) infrastructure vessels consisting of Floating Storage and Regasification assets, Floating Storage vessels and LNG carriers. […]
Barbados Caps Fuel Prices, PM Mottley Says
(Energy Analytics Institute, 15.Aug.2022) â Barbados Prime Minister Mia Amor Mottley has capped fuel prices through January 2023 after earlier reducing the value added tax on electrical usage. âBajans, I hear and I feel you. I know these are increasingly difficult times for many. It is for that reason my […]
Mexico Plans to be LNG Export Hub with US Gas
(Bloomberg, 15.Aug.2022) â Mexico â which imports nearly all of the natural gas it burns â has laid out a somewhat surprising mission: to become one of the worldâs top exporters of the fuel, and fast. Although natural gas exports from Mexico are today non-existent, seeing as it produces too little of the power-plant […]
Trinidad Imposes 6-month Ban on Scrap Iron Exports
(Trinidad and Tobago Newsday, 15.Aug.2022) â The government has imposed a six-month ban on the export of old and scrap iron to deal with the theft and vandalism of state and private assets. Under the Customs Act, the ban on all scrap metal exportation came into effect on August 12, […]