(Energy Analytics Institute, 31.Mar.2022) — Energy briefs including the US Energy Department saying it is ready to execute the president of the United States’ authorization of an immediate release of 1 million barrels per day for 6 months from the Strategic Petroleum Reserve; and Trinidad and Tobago NGL Limited (TTNGL) […]
Citgo Enters 2022 With Strong Momentum
(Citgo, 31.Mar.2022) — Citgo Petroleum Corporation reported its 2021 fourth quarter and year-end financial results. For the fourth quarter of 2021, Citgo generated net income of $21mn, EBITDA (1) of $236mn and adjusted EBITDA of $139mn, representing the strongest quarterly net income and EBITDA performance since the third quarter of 2019, prior to the start […]
EZ Blockchain Introduces Immersion Cooling Crypto Mining Container
(EZ Blockchain, 31.Mar.2022) — Although EZ Blockchain started as a provider of data center hosting solutions, it is now on a mission to solve the global waste energy problem by providing scalable solutions to the energy sector.The company aims to save the environment using sustainable energy alternatives without compromising on benefits for […]
TTNGL Reveals Gains for 2021
(TTNGL, 31.Mar.2022) — Trinidad and Tobago NGL Limited (TTNGL) reported total company profits amounted to $512.8mn in 2021 compared with $6.4mn in 2020. This improvement drove earnings per share up to $3.31 at the end of year, versus $0.04 for the prior year period. As a result, the final dividend […]
PetroPerú Selects Honeywell Forge Solution to Support Employee Training
(Honeywell, 31.Mar.2022) — Honeywell (Nasdaq: HON) announced that Petróleos del Perú S.A. (Petroperú), the largest hydrocarbon producer, refiner and distributor in Peru, has implemented Honeywell Forge Workforce Competency solutions to train its industrial workforce for safer and more efficient operations. Petroperú is investing in digital transformation as a key part of the refinery modernization […]
27th OPEC and non-OPEC Ministerial Meeting
(OPEC, 31.Mar.2022) — Following the conclusion of the 27th OPEC and non-OPEC Ministerial Meeting, held via videoconference on 31 March 2022, it was noted that continuing oil market fundamentals and the consensus on the outlook pointed to a well-balanced market, and that current volatility is not caused by fundamentals, but […]
TotalEnergies and Sempra Expand Alliance for the Development of LNG Exports, Renewables
(TotalEnergies, 31.Mar.2022) — TotalEnergies and Sempra are expanding their North American strategic alliance with the signing of two Memorandums of Understanding (MoU): one for the Vista PacÃfico LNG export project in Mexico and the other for the co-development of several onshore and offshore renewables projects. The Vista PacÃfico LNG project is planned to be […]
Petrobras on Rio De Janeiro Court of Justice Decision
(Petrobras, 31.Mar.2022) — Petrobras informs that the Court of Justice of Rio de Janeiro (TJ-RJ) decided, by majority vote, to grant the appeal of the company Paragon Offshore Nederland B.V., former supplier of rigs for oil and gas prospection. The estimated value of the lawsuit is R$ 1.9bn of which […]
PDVSA Seeks Tankers in Anticipation of US Sanctions Easing
(Reuters, 31.Mar.2022) — Venezuela’s state-run energy firm PDVSA is in talks to buy and lease several oil tankers amid a possible expansion in exports, according to three sources and a document seen by Reuters, a sign the country expects U.S. sanctions on its petroleum sector to be eased. Russia’s invasion […]
Petrobras, PetroRio Advance in Albacora Leste Talks
(Reuters, 31.Mar.2022) — Brazilian oil company PetroRio SA is close to agreeing on terms to purchase the Albacora Leste field from state-run oil company Petrobras, two sources with knowledge of the matter told Reuters, though talks around the neighboring Albacora field are proving more complex. Petrobras, formally Petroleo Brasileiro SA, […]
Distressed Argentina Oil Firm Leads Emerging-Market Bonds
(Bloomberg, 31.Mar.2022) — Only 14 months ago Argentina’s YPF SA was a nightmare for investors caught out by a $6 billion distressed debt restructuring. Now, in a swift turnaround, the 100-year-old state-run oil company is producing the best fixed-income returns in all of emerging markets. YPF has rewarded steely creditors […]
Shell Trinidad and Tobago Delivers First Gas from Colibri Project
(Shell Trinidad and Tobago, 31.Mar.2022) — Shell Trinidad and Tobago (through BG International, a subsidiary of Shell plc), announces that production has started on Block 22 and NCMA-4 in the North Coast Marine Area (NCMA) in Trinidad and Tobago. The start-up of Colibri follows the amendment to the Block 6 Production Sharing Contract […]
CNOOC Reports Record Net Profit from Growth of Reserves and Production
(CNOOC, 30.Mar.2022) — CNOOC Limited (SEHK: 00883) announced its 2021 annual results for the year ended 31 December 2021. In 2021, CNOOC Limited adhered to the business strategy of seeking progress while keeping performance stable and embedded the normalized epidemic prevention and control measures into daily operation. The company seized […]
Ecopetrol Gets Approval For Profit Distribution for Fiscal Year 2021
(Ecopetrol, 30.Mar.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the ordinary General Shareholders’ Meeting, held on 30 March 2022, approved the profit distribution proposal submitted for its consideration. This proposal establishes that an ordinary dividend per share of two hundred and forty-three pesos (COL $243) and an exceptional extraordinary dividend, equivalent to thirty-seven […]
Bridgestone Awarded Energy Grant to Advance Guayule Natural Rubber Research
(Bridgestone, 30.Mar.2022) — Bridgestone Americas has been awarded a research grant by the US Department of Energy (DOE) Joint Genome Institute to advance its optimization of guayule, a drought resistant, desert shrub that shows promise as a new, domestic source of natural rubber for tire production. A global leader in […]
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NRGBriefs: Chevron Corp.’s $2bn debt in Venezuela [PDF downloads]
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 30.Mar.2022, Words: 583) — Energy briefs including ExxonMobil Angola celebrating an important milestone for the Kizomba A FPSO in its achieving its 1000th crude offload; Petrobras filing its Form 20-F for the year ended 31 Dec. 2021; Ecopetrol reporting that the ordinary General […]
Gazprom Expresses Interest in Selling LNG to Argentina
(Energy Analytics Institute, 30.Mar.2022) — Gazprom expressed interest in supplying liquefied natural gas (LNG) to Argentina to replace market share lost due to sanctions imposed by the US and Europe in response to Russia’s invasion of Ukraine. Gazprom reportedly sent an offer to state-owned company Integración Energética Argentina (IEASA, formerly […]
Petrobras Says BODs Approved TCP with Novonor/Odebrecht
(Petrobras, 31.Mar.2022) — Petrobras informs that its Board of Directors approved the execution of the Term of Closing of Pendencies (TCP) between, on the one hand, Petrobras and one of its affiliates (jointly, Petrobras) and, on the other hand, Novonor S.A. (previously called Odebrecht S.A.) and some of its affiliates […]
Petroperu Board Reshuffle to Strengthen Operational Capacity
(Andina, 30.Mar.2022) — The President of the Republic Pedro Castillo on Thursday affirmed that the reshuffle of Petroperu‘s board of directors will enable the State-run company to strengthen its operational capacity for the benefit of the population. “I welcome the fact that the General Meeting of Petroperu Shareholders supports this company as […]
YPF Taking Steps to Provide Diesel to Farmers Amid Shortage Concerns
(S&P Global, 30.Mar.2022) — YPF, the biggest oil producer and refiner in Argentina, said late March 29 that it is taking steps to meet farmers’ diesel demand during the spring harvest of major export crops, as concerns swell of shortages. The state-backed company said that through its more than 100 […]
How NOCs are Tackling the Energy Transition
(WoodMac, 30.Mar.2022) — Despite their scale, national oil companies (NOCs) have until now largely escaped the heavy scrutiny experienced by international oil companies (IOCs) around emissions. Partly as a consequence, the energy transition strategies of most NOCs significantly lag those of their leading IOC peers, says Wood Mackenzie, a Verisk […]
Lectron Unveils New Retail Partnership with AutoZone
(Lectron, 29.Mar.2022) —  Lectron, an electric vehicle charging brand, has entered a retail partnership with auto parts giant, AutoZone (NYSE: AZO), in a bid to make electric vehicle charging more accessible to consumers. AutoZone now carries a wide selection of Lectron products on its website, including chargers, charging stations, and adapters. […]
Proman, CropX to Invest in Technology to Make Farming More Sustainable
(Proman, 29.Mar.2022) — Proman, an integrated energy company and one of the world’s top ten nitrogen fertilizer producers, announced a new strategic partnership with CropX, a global pioneer in digital farm management systems. CropX technology provides farmers and industry experts with the data and information they need to increase farming […]
NRGBriefs: Lula Participates in Discussion about Fuel Prices in Brazil
(Energy Analytics Institute, 29.Mar.2022) — Energy briefs including former Brazilian President Luiz Inácio Lula da Silva participating in a chat w/ specialists with the Federation of Oil Workers (FUP by its Portuguese acronym) to discuss the price of fuel in Brazil; Shell Colombia and state owned Ecopetrol spudding their Gorgon-2 […]
Presidential Candidate Petro’s Oil, Pension Proposals Give Investors Pause
(Reuters, 29.Mar.2022) — Leftist Colombia presidential candidate Gustavo Petro’s promises to halt new oil projects and redistribute pension funds could put the country’s economic stability at risk, investors say, though doubts remain about his ability to implement them. Petro, a senator and former M-19 guerrilla rebel, has tallied up to […]
Pemex Crude Exports Rise 11% m/m in Feb. to 925,000 bpd
(Reuters, 29.Mar.2022) — Petroleos Mexicanos (Pemex) said it exported 925,000 barrels of crude per day (bpd) on average in February, up 11.2% from the previous month, as international oil prices surged and domestic refining capacity at the state oil company stayed below target. In late December, Pemex said it planned […]
Shell Adds Deep-Water US GOM Production with PowerNap
(Shell, 29.Mar.2022) — Shell Offshore Inc., a subsidiary of Shell plc, announces the start of production at PowerNap, a subsea development in the US Gulf of Mexico with an estimated peak production of 20,000 barrels of oil equivalent per day (boe/d). PowerNap is a tie-back to the Shell-operated Olympus production hub in […]
JinkoSolar Reached Delivery Milestone of 100GW of Total Solar Panels
(JinkoSolar, 29.Mar.2022) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) has delivered 100GW of solar modules globally. JinkoSolar is the first company in history to achieve this milestone. Approximately one out of every ten solar modules installed in the world was produced by JinkoSolar. Despite supply chain disruption caused by the COVID-19 […]
Ecopetrol Trading Asia to Dispatch 90,000 Barrels to Sinochem
(Energy Analytics Institute, 29.Mar.2022) — Ecopetrol Trading Asia, an affiliate of Ecopetrol Group with an office in Singapore, realized its first commercial operation to sell 90,000 barrels of oil to Sinochem. The cargo is expected to be dispatched in coming weeks, Ecopetrol announced 29 March 2022 in an official statement. […]
QatarEnergy Buys 40% Stake in Offshore Egypt Exploration Block
(QatarEnergy, 29.Mar.2022) — QatarEnergy entered into an agreement with ExxonMobil to acquire a working interest in an exploration block offshore Egypt. Under the terms of the agreement, which is subject to customary approvals by the government of Egypt, QatarEnergy will hold a 40% working interest in the contractor’s share in […]
Transocean Invests in Exploration of Seabed Minerals to Support Renewable Supply Chain
(Transocean, 29.Mar.2022) — Transocean Ltd. (NYSE: RIG) purchased a minority interest in Ocean Minerals Ltd., a company engaged in the exploration of seabed resources containing metals critical to the growing renewable energy market. Ocean Minerals, through its affiliate, Moana Minerals Limited, was awarded a license by the Cook Islands Seabed Minerals Authority last month for […]
Murphy Oil Says Cutthroat-1 Exploration Well Offshore Brazil Didn’t Find Oil
(Murphy Oil, 28.Mar.2022) — Murphy Oil Corporation (NYSE: MUR) announced that drilling has concluded at the Cutthroat-1 exploration well in block SEAL-M-428 in the Sergipe-Alagoas Basin offshore Brazil. While the presence of hydrocarbons was not found, the partner group will continue to integrate the exploration well data into its regional […]
NGC Inks Gas Supply Contract with TCL
(NGC, 28.Mar.2022) — The National Gas Company of Trinidad and Tobago Limited (NGC) signed a Gas Sales Contract (GSC) with local cement manufacturer, Trinidad Cement Limited (TCL). This agreement will govern the sale of natural gas to TCL and represents an important step forward for both companies after an extended […]
EIG and Fluxys Partner in GNL Quintero S.A. Plant in Chile
(EIG, 28.Mar.2022) — EIG, an institutional investor to the global energy and infrastructure sectors, and Fluxys, an energy infrastructure company, announced they jointly will acquire an 80% equity stake in GNL Quintero S.A., the largest liquefied natural gas (LNG) regasification terminal in Chile, from Enagas Chile SpA and affiliates of […]
NRGBriefs: Atlantic LNG Could Save Venezuela Cos. Money Needed for Export
(Energy Analytics Institute, 28.Mar.2022) — Energy briefs including Touchstone Exploration Inc. (TSX, LSE: TXP) reported its 4Q:21 and YE:21 operating and financial results; and Caracas-based Venezuelan Private Capital Association or Venecápital saying that Venezuelan companies in the eastern region of the OPEC country could look to Trinidad and Tobago’s Atlantic […]
Talos Reveals Finalization of the Zama Unitization Process
(Talos, 28.Mar.2022) — Talos Energy Inc. (NYSE: TALO) has received the final Unitization Resolution (“UR”) from Mexico’s Ministry of Energy (SENER) regarding the development of the Zama field in offshore Mexico. Among other things, the UR affirms the appointment of Petróleos Mexicanos (Pemex) as operator of the unit. Unitization of […]
Tellurian’s Driftwood LNG Begins Construction
(Tellurian, 28.Mar.2022) — Tellurian Inc. (NYSE American: TELL) issued a limited notice to proceed to Bechtel Energy Inc. under its executed Engineering, Procurement and Construction (EPC) contract to begin construction of phase one of the Driftwood LNG terminal, a liquefied natural gas (LNG) export facility near Lake Charles, Louisiana. President […]
Peru’s President Avoids Impeachment after Marathon Debate
(Al Jazeera, 28.Mar.2022) — Peru’s President Pedro Castillo avoided impeachment by the country’s opposition-dominated legislature on Monday after a parliamentary debate lasting more than eight hours. Fifty-five legislators voted in favour of impeachment, 54 voted against and 19 abstained. The president’s critics needed 87 votes to impeach the leader, who was accused […]
Brazil Government Plans to Replace Petrobras CEO Joaquim Silva E Luna
(WSJ, 28.Mar.2022) — Brazil’s Mining and Energy Ministry said Monday the government intends to replace Joaquim Silva e Luna as chief executive of state-controlled Petróleo Brasileiro SA, or Petrobras, with Adriano Pires, an oil sector consultant with government experience. The change comes after weeks of criticism by Brazilian President Jair […]
Vermilion Energy Reveals Acquisition of Montney Assets
(Vermilion Energy, 28.Mar.2022) — Vermilion Energy Inc. (TSX: VET) (NYSE: VET) entered into an arrangement agreement to acquire Leucrotta Exploration Inc. for a net cash purchase price of $477mn (the “Arrangement” or the “Leucrotta acquisition”). Leucrotta is a Canadian publicly listed Montney-focused oil and natural gas exploration and development company with lands located in […]
Triangle Lithium LLC Starts Antofalla Drilling Campaign in Argentina
(Triangle Lithium, 28.Mar.2022) — Triangle Lithium LLC’s subsidiary Triangle Lithium Argentina, SA (Trila), a joint venture with Lithium Energi Argentina, SA (LEA), finalized and executed all the contracts required to kick off its drilling campaign in the Antofalla Salar in Catamarca Province, Argentina. Work will commence in the next ten days. […]
War Turns Argentina’s Shale Boom Dream into Gas-Buying Nightmare
(Bloomberg, 28.Mar.2022) — Argentina, home to some of the world’s vastest gas reserves, is bracing for the unthinkable: rationing one of its chief natural resources. Despite having shale-gas deposits to rival those in Appalachia, which made the U.S. a major exporter, Argentina’s gas industry has suffered from years of underinvestment that’s left it […]
Petrobras CEO Ousted Amid Spat Over Fuel Prices
(Bloomberg, 28.Mar.2022) — Latin America’s biggest oil producer Petroleo Brasileiro SA will have its third chief executive officer since early 2021 after Joaquim Silva e Luna was pushed out following growing political pressure to contain fuel prices. Luna’s ouster after just a year in the role comes less than a […]
Petrobras on Letter from the Mines and Energy Ministry
(Petrobras, 28.Mar.2022) — Petrobras, following up on the release disclosed on 03/05/2022, informs that it received a letter from the Ministry of Mines and Energy on today’s date, at 6:25 p.m., in reference to the Petrobras Annual General Meeting to be held on 13 April 2022, with two replacements in […]
EAI brief takeaway: Venezuela and US sanctions
PANAMA CITY, PANAMA (By Editors at Energy Analytics Institute, 26.Mar.2022, Words: 364) — Venezuela’s petroleum sector is again front center on Washington’s radar due to the OPEC country’s massive oil reserves, production potential and proximity after the US imposed sanctions on Russian barrels due to its Ukraine invasion. Energy Analytics […]
Attend the Madrid Energy Conference from 6-8 Apr. 2022
(Global Event Partners, 26.Mar.2022) — The Madrid Energy Conference has become the nexus for Latin American and European energy leaders to discuss energy transition solutions and clean energy advances, as well as how to navigate challenges exacerbated by COVID-19, particularly in terms of finance and fiscal stability in Latin America. Our […]
NRGBriefs: Venezuela Petroleum Flows to Asia-Pacific Trending Downward
(Energy Analytics Institute, 25.Mar.2022) — Energy briefs including Trinidad and Tobago’s Minister of Energy and Energy Industries Stuart Young meeting with Touchstone Exploration executives about the company boosting production; Venezuelan petroleum (crude and product) flows to Asia-Pacific continuing a downward trend in March 2022; and Sempra (NYSE: SRE) (BMV: SRE) issuing a […]
HF Sinclair and HollyFrontier Commence Private Exchange Offers
(HF Sinclair Corporation, 24.Mar.2022) — HF Sinclair Corporation (NYSE: DINO) and HollyFrontier Corporation (HFC) announced the commencement of  private offers to all Eligible Holders (as defined herein) to exchange (each an “Exchange Offer” and, collectively, the “Exchange Offers”) notes previously issued by HFC listed in the table below (the “HFC Notes”), […]
Purchase Oil From Canada, Not Venezuela
(Forbes, 24.Mar.2022) — Gasoline prices are reaching record highs and Russian oil imports are ending. As the Biden Administration makes overtures to Venezuela to request more oil, Alberta Premier Jason Kenney asks why the Administration doesn’t contact him. Canada’s province of Alberta is home to 165 billion barrels of oil, the […]
GCL SI to Supply 71MW Solar Modules in Brazil
(GCL SI, 24.Mar.2022) — GCL System Integration Technology Co., Ltd. (GCL SI) (Shenzhen:002506), a photovoltaics (PV) company in China, will launch a project, dubbed Casa Blanca, in Bahia, Brazil in cooperation with Atlas Renewable Energy, a global renewable energy generator, with an expected full capacity of 250MW once construction is completed. GCL SI […]