(Energy Analytics Institute, 28.Dec.2021) — Argentina’s Energy Secretariat authorized six companies — YPF, Total, PAE, Vista, Pampa and Tecpetrol — to carryout gas exports from the Neuquén basin to Chile between January to April 2022. “More exports means more production, more work, more activity and more foreign exchange income,” Argentina’s […]
NRGBriefs: Ecopetrol Sends First Carbon-Neutral Cargo to PetroChina
(Energy Analytics Institute, 28.Dec.2021) — Energy briefs including Colombia’s state-controlled Ecopetrol agreeing to ship 1 MMbbls of Castilla blend oil to PetroChina for delivery in Feb. 2022; Venezuela’s opposition lawmakers voting to for the continuity of the National Assembly and its leader Juan Guaidó; and more. LATIN AMERICA AND THE […]
Talos Energy Releases 2021 ESG Report
(Talos, 27.Dec.2021) — Talos Energy Inc. (NYSE: TALO) published its second annual environmental, social and governance (ESG) report to stakeholders, highlighting the company’s continued environmental, health and safety focus, positive impacts on communities and employees and solid governance practices. Talos has substantially increased the volume and quality of disclosures in this […]
Venezuela Says Oil Output Topped More Than 1 MMb/d
(Bloomberg, 27.Dec.2021) — Venezuela says it’s pumping the most oil since harsh U.S. sanctions strangled state-owned oil company Petroleos de Venezuela SA more than two years ago. Not everyone believes it. PDVSA, as the Caracas-based explorer is known, reported more than 1 million barrels of daily output in a Dec. 24 Twitter post. […]
How Venezuela Pulled its Oil Production Out of a Tailspin
(Reuters, 27.Dec.2021) — Venezuela this year almost doubled its oil production from last year’s decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos de Venezuela, known as PDVSA, won help from small […]
NRGBriefs: Ecuador’s Oil Production Around 91 Mb/d
(Energy Analytics Institute, 27.Dec.2021) — Energy briefs including Ecuador’s crude oil production reaching around 91,480 b/d this week; APA Corp. revealing ratification of a modernized PSC in Egypt; and more. LATIN AMERICA AND THE CARIBBEAN Ecuador — Ecuador’s oil production was just 91,480 b/d on 27 Dec. 2021, according to […]
APA Corp. Ratifies Modernized PSC in Egypt
(APA, 27.Dec.2021) — APA Corporation (Nasdaq: APA) announced the signing, by authority of Egyptian President H.E. Abdel Fattah El Sisi, of the previously announced agreement to modernize and consolidate the company’s current Production Sharing Contracts (PSCs) with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egyptian General Petroleum […]
NRGBriefs: Maduro Courts Arab Investments
(Energy Analytics Institute, 26.Dec.2021) — Energy briefs including Venezuela’s President Nicolas Maduro talking in a special interview w/ Arab media house Al Mayadeen broadcast on Venezuelan national TV; Venezuela’s GDP expected to rise 5% in 2022; Mammoet crews continue to assist w/ construction of Guajira I, in the municipality of […]
Shell: Commissioning Work for Poinsettia Begins in January
(Trinidad Guardian, 24.Dec.2021) — Shell Trinidad and Tobago Limited has announced that commissioning work on the Poinsettia Platform will begin in January. In a notice published by Shell and BG International, the company announced that on or around January 6, 2022, “the Skandi Contractor vessel will be supporting subsea system […]
NRGBriefs: Venezuelan Oil Production Touches 1 MMb/d
(Energy Analytics Institute, 24.Dec.2021) — Energy briefs including Venezuela supposedly reaching the 1 MMb/d oil production mark; and SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) commencing commissioning and ramping up activities at Çöpler’s sulfide plant flotation circuit in Peru. LATIN AMERICA AND THE CARIBBEAN Peru — SSR Mining Inc. […]
NRGBriefs: NGC Embarks on New Design-Build Project in Ghana
(Energy Analytics Institute, 23.Dec.2021) — Energy briefs including Ecuador’s Subsecretariat of Control and Nuclear Applications (SCAN), together w/ different national public entities, announcing the International Organization of Atomic Energy (IAEA) has approved new projects for Ecuador worth $2.8mn for the 2022-23 cycle; the National Gas Company of Trinidad and Tobago […]
Orvana Closes €15mn Syndicated Loan in Spain
(Orvana Minerals, 23.Dec.2021) — Orvana Minerals Corp. (TSX: ORV) closed a €15mn syndicated loan with two Spain-based banks, through its wholly-owned subsidiaries in Spain, Orvana Minerals Iberia S.L.U. and Orovalle Minerals S.L. Orvana will use the proceeds to fund the development of the Taguas Project in Argentina and structural capital expenditures in Spain. “The closing of […]
Colombia’s Energy Self-Sufficiency at Risk
(Rystad Energy, 23.Dec.2021) — Colombia, Latin America’s third-largest oil producer after Brazil and Mexico, is in danger of losing its energy self-sufficiency and a significant part of its gross domestic product (GDP) in the future, unless the pace of exploration accelerates, a Rystad Energy report has revealed. The country’s oil […]
Guyana Gov’t Working on Ensuring Prosperity
(DPI, 23.Dec.2021) — December 20, 2019, marked a new, historic era for Guyana and its people. It was the day when ExxonMobil began producing light sweet crude offshore Guyana in the world-renowned Stabroek Block. Since then, not only has Guyana benefitted from billions of dollars in revenue and investment from […]
Interruption In Gas Supply Behind TT Power Outages, TGU Says
(T&T Loop News, 23.Dec.2021) — Power outages experienced across the country on Wednesday were due to works by the National Gas Company (NGC). Intermittent outages were reported across parts of South, Central, North and East Trinidad. According to a statement from independent power producer Trinidad Generation Unlimited (TGU), a brief […]
KBR Awarded Study to Support Green Hydrogen Growth in Trinidad and Tobago
(KBR, 22.Dec.2021) — KBR (NYSE: KBR) has been awarded a study to help establish a green hydrogen market in Trinidad and Tobago as part of an ongoing technical cooperation financed by the Inter-American Development Bank (IDB). Under the terms of the contract, KBR will analyze strategies for maximizing opportunities to […]
NRGBriefs: CFIUS Approves Pemex’s Deer Park Refinery Purchase
(Energy Analytics Institute, 22.Dec.2021) — Energy briefs including Chile being chosen for the 2nd consecutive yr as the most attractive emerging mkt to invest in renewable energies in the LatAm region; AkerSolutions crossing the 36% mark in terms women among all hired personnel in Brazil; the Committee on Foreign Investment […]
West Indies Petroleum Wins in Lime Tree Refinery Auction
(Jamaica Observer, 22.Dec.2021) — News portal, the Virgin Islands Consortium, reports that Jamaica-based West Indies Petroleum (WIP) won an auction for the Lime Tree Bay Refinery with its bid of US$62 million on Saturday, December 18, 2021. Lime Tree Bay Refinery is located on the south shore of St Croix in […]
IMF Approves Extended Arrangement for Suriname
(IMF, 22.Dec.2021) — The Executive Board of the International Monetary Fund (IMF) approved a 36-month arrangement under the Extended Fund Facility (EFF) for Suriname in an amount equivalent to SDR472.8mn (about $688mn or 366.8% of quota). The Board’s decision enables an immediate disbursement equivalent to SDR39.4mn (about $55.1mn). The IMF […]
Petrobras On LPG Focused Social Program
(Petrobras, 22.Dec.2021) — Petrobras, following up on the releases disclosed on 29 September and 8 December 2021, informs that its Board of Directors approved the allocation of R$270mn that will be used throughout 2022 in the social program of access to cooking gas cylinders (liquefied petroleum gas – LPG) for […]
Petrobras Concludes Sale of Bahia Onshore Fields
(Petrobras, 22.Dec.2021) — Petrobras, following up on the release disclosed on 23 Dec. 2020, informs that it concluded today the sale of its total stake in 12 onshore exploration and production fields, called Remanso Cluster, located in the state of Bahia, to PetroRecôncavo S.A.. After compliance with the preceding conditions, […]
Petrobras Completes Renewal of its Shelf Registration
(Petrobras, 22.Dec.2021) — Petrobras completed the renewal of its shelf registration with the US Securities and Exchange Commission (SEC). The shelf registration allows Petrobras to offer securities in the US capital markets in an agile and comprehensive manner, taking advantage of market opportunities, with the objective of reducing costs and […]
Petrobras Submits Development Plan for Tupi and Iracema
(Petrobras, 22.Dec.2021) — Petrobras, as the operator of the Tupi Field, submitted to the National Petroleum, Natural Gas and Biofuel Agency (ANP), the review of the Integrated Development Plan (PD) of the Shared Deposit of Tupi and the Iracema Area. In this revision, the Tupi Consortium proposes new investments to […]
Touchstone’s Credit Facility Raised To $30mn
(Touchstone, 22.Dec.2021) — Touchstone Exploration Inc. (TSX, LSE: TXP) entered into an amended and restated loan agreement with its Trinidad based lender providing for a $10mn increase in the principal balance to $30mn. Touchstone currently has $15mn of the loan principal balance drawn and anticipates withdrawing the remaining $15mn available […]
Petrobras on Contracts with TAG
(Petrobras, 22.Dec.2021) — Petrobras informs that, as part of the actions taken to open the Brazilian natural gas market, signed, today, with Transportadora Associada de Gás S.A. (TAG) the Flexibility Reduction Agreement to be used by Petrobras (Agreement) and amendments to the Malha Nordeste, Gasene and Pilar-Ipojuca Natural Gas Transportation […]
Touchstone Reveals 3rd Test Results at Royston-1 in Trinidad
(Touchstone, 21.Dec.2021) — Touchstone Exploration Inc. (TSX, LSE: TXP) announced results of the final production test at our Royston-1 exploration well which has confirmed a light oil discovery in the upper most section of the Herrera Formation. Touchstone has an 80 percent operating working interest in the well, which is […]
Sempra to Divest 10% Interest in Sempra Infrastructure Partners
(Sempra, 21.Dec.2021) — Sempra (NYSE: SRE) (BMV: SRE) entered into a definitive agreement to sell a non-controlling 10% interest in Sempra Infrastructure Partners to a subsidiary of the Abu Dhabi Investment Authority (ADIA) for $1.785bn in cash, subject to customary closing adjustments. This transaction implies an enterprise value for Sempra Infrastructure of $26.5bn, including […]
Rhyolite Resources Closes C$18mn Private Placement
(Rhyolite Resources, 21.Dec.2021) — Rhyolite Resources Ltd. (TSXV: RYE) completed a “bought deal” brokered private placement of 16,000,000 common shares of the company at a price of C$0.88 per Common Share (the “Offering Price”) for gross proceeds of approximately C$14mn (the “Bought Deal Private Placement”). BMO Capital Markets acted as the sole underwriter […]
NFE Signs MOU with Mauritania for Fast LNG And Gas-to-Power Project
(New Fortress Energy, 21.Dec.2021) — New Fortress Energy Inc. (NASDAQ: NFE) announced execution of a Memorandum of Understanding (MOU) with the Islamic Republic of Mauritania for the development of an Energy Hub, including natural gas, power, liquefied natural gas (LNG) and blue ammonia, utilizing existing offshore gas reserves off the […]
Argentina President Set to Decree $1.6bn Vaca Muerta Gas Pipeline
(Reuters, 21.Dec.2021) — Argentina’s President Alberto Fernandez will sign a decree in the next few weeks to push forward construction of a major new gas pipeline system in the country’s huge Vaca Muerta shale formation, a government source told Reuters, a key move to boost gas exports. The timeline and […]
Venture Global and CNOOC Gas & Power Announce LNG SPA
(Venture Global, 20.Dec.2021) — Venture Global LNG and CNOOC Gas & Power Group Co., Ltd., a wholly owned subsidiary of China National Offshore Oil Corporation (CNOOC), announced the execution of a 20-year Sales and Purchase Agreement (SPA). This marks the first LNG supply agreement signed by a US exporter with CNOOC, China’s largest importer of LNG. […]
Minerva Bunkering Launches New Physical Supply Service in Argentina
(Minerva Bunkering, 20.Dec.2021) — Minerva Bunkering has launched a new marine fuels supply service in Argentina, providing deliveries in Buenos Aires and surrounding ports. “By adding this new operation to Minerva’s footprint, we can offer vessels calling Argentine ports physical supply options across the length of their voyages, providing the flexibility our customers […]
Petrobras Comments on Divestment of Paraná Basin Assets
(Petrobras, 20.Dec.2021) — Petrobras, following up on the release disclosed on 08/03/2021, informs that it signed with Ubuntu Engenharia e Serviços Ltda a contract for the sale of its total stake in the concession PAR-T-198_R12, located onshore, in the Paraná Basin. The total value of the transaction is $31 thousand […]
Frontera to Acquire Colombian Producer PetroSud
(Frontera, 20.Dec.2021) — Frontera Energy Corporation (TSX: FEC) entered into an agreement to acquire 100% of the issued and outstanding shares in Petroleos Sud Americanos S.A. (PetroSud) with operations in Colombia in El Dificil (a 65% working interest), Entrerrios and Rio Meta Blocks. Assets to be acquired in the PetroSud and VIM-46 […]
![NGC Reports Results for Period Ended 30 Sep. 2021 [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2021/12/2018-06-08_ngc-headoffice_3299_shaun-rambaran-1280x640-1.jpg)
NGC Reports Results for Period Ended 30 Sep. 2021 [PDF Downloads]
(NGC, 19.Dec.2021) — The NGC Group recorded an unaudited after-tax profit of TT$1.045B for the nine-month period ended 30 September 2021. This represents an extraordinary improvement of 2,588% over the loss of $42M for the prior period. Revenue of the period was TT$15.6B as compared with TT$8.1B, an increase of […]
![NGC Reports $1bn Profit [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/12/head-office-undercroft-view-source-ngc.jpg)
NGC Reports $1bn Profit [PDF Download]
(NGC, 19.Dec.2021) — The National Gas Company of Trinidad and Tobago Limited (NGC) released its unaudited consolidated financial statements for the nine-month period ended 30 September 2021. The results, according to The NGC Group Chairman Conrad Enill, signal a strong recovery relative to 2020, as The NGC Group recorded an unaudited […]
Guyana Proposes Establishment of Local Content Register in Historic Bill
(DPI, 18.Dec.2021) — As part of the Local Content Bill, the government is proposing the establishment of a Local Content Register said to be developed and maintained by the Local Content Secretariat. The Bill which was tabled in the National Assembly on Thursday by Minister of Natural Resources, Vickram Bharrat, […]
Höegh LNG Partners LP Advises Investors Of Lead Class Action
(Höegh LNG, 18.Dec.2021) — Robbins Geller Rudman & Dowd LLP announces that purchasers of Höegh LNG Partners LP (NYSE: HMLP) securities between 22 August 2019 and 27 July 2021, inclusive (the “Class Period”) have until Monday, December 27, 2021 to seek appointment as lead plaintiff in Sanchez v. Höegh LNG Partners LP, No. 21-cv-19374. Commenced on 27 October 2021 in the District […]
WoodMac: Predictions 2022
(WoodMac, 17.Dec.2021) — Wood Mackenzie analysts offer ten predictions for key developments expected in the energy and natural resources industries in 2022. This is a time of year when it is tempting to look back. But it is usually more interesting to look forward. For the final Energy Pulse of […]
TotalEnergies and Shell Stand Out in Brazilian Oil Auction
(Bloomberg, 17.Dec.2021) — European supermajors TotalEnergies SE and Royal Dutch Shell Plc will join Brazil’s state-controlled oil giant at two key fields, marking the latest expansion in Latin America’s largest crude producer and an important victory for President Jair Bolsonaro. TotalEnergies won stakes in both of the deepwater fields on offer Friday, […]
ANP Reveals Result of 2nd Bid Round for TOR Surplus
(Petrobras, 17.Dec.2021) — Petrobras acquired the exploration and production rights of the volumes exceeding those of the Transfer of Rights in the Atapu and Sepia offshore fields in the 2nd Bidding Round for the Transfer of Rights surplus under the Production Sharing Regime, held today, by the National Agency of […]
NRGBriefs: Ecopetrol Fined for Caño Cacayal Contamination
(Energy Analytics Institute, 17.Dec.2021) — Energy briefs including Ecopetrol S.A. revealing the Sustainable Development Corporation of the Macarena Special Management Area CORMACARENA, through Resolution No. PS-GJ.1.2.6.21.2094 of 2021, imposed a fine of 20 monthly minimum wages to the co. due to the contamination of Caño Cacayal; Venezuela’s oil production set to […]
POC Retains Interest in Block 5 Offshore Suriname
(Staatsolie, 17.Dec.2021) — Paradise Oil Company (POC), a wholly owned subsidiary of Staatsolie Maatschappij Suriname N.V., retains its non-operated participating interest of 40%. The details of the deal, signed on 17 December 2021, are not disclosed. Staatsolie welcomes the participation of a renowned party such as Shell in Block 5. […]
![Dover Announces Two Clean Energy Acquisitions [Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/12/Video3-dover.jpg)
Dover Announces Two Clean Energy Acquisitions [Download]
(Dover, 16.Dec.2021) — Dover (NYSE: DOV) completed the acquisition of Acme Cryogenics, Inc. for $295mn in cash, and that it has entered into a definitive agreement to acquire Engineered Controls International, LLC (RegO) for $631mn in cash, subject to customary purchase price adjustments. Additionally, the RegO acquisition includes tax step-up benefits with a net present […]
Guyana Shies Away from Overly Rigid Local Content Terms in Oil Bill
(Reuters, 16.Dec.2021) — Guyana’s government on Thursday delivered to the National Assembly the draft of a local content bill that will regulate its nascent oil industry, proposing requirements beginning at 5% by the end of 2022 for activities to be carried out by contractors and licensees. The proposed policy, seen […]
Petrobras Inks $5bn Revolving Credit Line Deal
(Petrobras, 16.Dec.2021) — Petrobras signed, today, a revolving credit facility (RCF) in the amount of $5bn, maturing in December 2026, with the possibility of being extended in up to two years. The agreement, signed with 16 banks, allows the company to draw on the line until the month before maturity, […]
Bristow And Overair Form Partnership to Introduce Zero Emission eVTOL
(Bristow, 16.Dec.2021) — Overair, Inc., developer of electric vertical take-off and landing (eVTOL) vehicles, today announced they signed a Memorandum of Understanding (MOU) with Bristow Group Inc. (NYSE: VTOL), a global provider of innovative and sustainable vertical flight solutions to government and civil organizations. The two companies plan to collaborate on […]
No Counter-offers in ANH, 30 Contracts to be Signed
(Reuters, 16.Dec.2021) — There were no counter-offers for oil and gas blocs in Colombia’s latest licensing round, but contracts for 30 blocs which received bids will be signed in the coming days, the government said on Thursday. The oil and gas industry is a major source of income and foreign […]
Petroperu to Restart 200,000 b/d Oil Pipeline: Official
(Argus, 16.Dec.2021) — State oil company Petroperu has reached an agreement with protesters to end a two-and-a-half month takeover of its 200,000 b/d North Peruvian oil pipeline (ONP), a senior government official and the firm’s main crude supplier said Dec. 16. Villagers demanding greater social spending in the northern Amazon […]
LatAm Oil Auctions Kick Off After Two-year Lull
(Reuters, 16.Dec.2021) – Latin America’s oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday […]