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Bolsonaro: Petrobras Pricing Independent

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(Reuters, 6.Nov.2021) — Brazilian President Jair Bolsonaro lamented on Saturday that state-run oil company Petrobras sets domestic fuel prices independent of government interference and repeated his desire to privatize the firm. “We know about inflation, the rise in fuel prices. We know about Petrobras. The company is independent unfortunately, independent. […]

Venezuela Slashes Oil Production Target

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(Bloomberg, 5.Nov.2021) — Venezuela’s state oil company slashed its output target by one-third as years of corruption, brain drain and inadequate investment crippled the nation’s energy infrastructure.  PDVSA cut its daily production target to 1 million barrels from a 1.5-million-barrel goal announced in January, according to a company document seen […]

Sempra Reports 3Q:21 Earnings

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(Sempra, 5.Nov.2021) — Sempra (NYSE: SRE) (BMV: SRE) announced third-quarter 2021 losses of $648mn, or $2.03 per diluted share, compared to third-quarter 2020 earnings of $351 million, or $1.21 per diluted share. Sempra’s third-quarter 2021 results included a $1.1bn after-tax charge associated with civil litigation related to the 2015 Aliso Canyon natural gas storage facility leak. On an adjusted […]

Petrobras Finalizes Divestment Of Power Companies

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(Petrobras, 5.Nov.2021) — Petrobras, following up on the release disclosed on 29 July 2021, says it has concluded the sale of its stakes of 20% in TermelĂ©trica Potiguar S.A. (TEP) and 40% in Companhia EnergĂ©tica Manauara S.A. (CEM) to Global ParticipaçÔes Energia S.A. (GPE), through its subsidiaries GFT ParticipaçÔes S.A. […]

Petrobras In Negotiations With Petro Rio

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(Petrobras, 5.Nov.2021) — Petrobras, following up on the release disclosed on 7 Oct. 2021, about the divestment project of the Albacora and Albacora Leste fields, in the Campos Basin, informs that its Executive Board concluded the analysis of the proposals received and, yesterday, it approved the start of the negotiation […]

ING Will Not Finance Oil In Peru

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(Reuters, 4.Nov.2021) — Dutch lender ING will not finance the trading of oil and gas in Peru amid concern about the impact of the industry on indigenous people in the Sacred Headwaters region of the Amazon, a policy document seen by Reuters showed. The move marks an expansion of its […]

Summit Ridge, Osaka Gas Reach Solar Milestones

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(Summit Ridge Energy, 4.Nov.2021) — Summit Ridge Energy (SRE) announced completion of the first project in their 200 MW Maine community solar portfolio, a 6.3 MWdc array in Hermon, ME that will serve 850 households and small businesses across the state. The project, owned through SRE’s joint venture with Osaka Gas USA (OGUSA) announced in […]

Sinopec Signs LT Deal With Venture Global LNG

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(Sinopec, 4.Nov.2021) — China Petroleum & Chemical Corporation (HKG: 0386, Sinopec) signed a 20-year liquified natural gas (LNG) contract with U.S. LNG producer and exporter Venture Global LNG to purchase 4mn tons of LNG a year. Venture Global will supply the LNG from its plant in Plaquemines, Louisiana. In addition, China International […]

Venture Global, Sinopec Ink LNG Sales Deals

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(Venture Global, 4.Nov.2021) — Venture Global LNG and China Petroleum & Chemical Corp. (Sinopec) announced signing of two 20-year Sales and Purchase Agreements (SPA) for the supply of a total of 4mn tonnes per annum (MTPA) of LNG from Venture Global’s Plaquemines LNG export facility, in Plaquemines Parish Louisiana. In addition, UNIPEC, a Sinopec subsidiary has agreed […]

Frontera Energy Reveals 3Q:21 Results

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(Frontera Energy, 3.Nov.2021) — Frontera Energy Corporation (TSX: FEC) reported financial and operational results for the third quarter ended 30 September 2021. All financial amounts in this news release are in United States dollars, unless otherwise stated. Third Quarter Operational and Financial Results: The company is tightening and increasing its full-year operating EBITDA […]

Deacero Opens Headquarters In Washington, DC

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(Deacero, 3.Nov.2021) — Deacero, Mexico’s largest wire producer, opened a global trade and corporate affairs headquarters in the heart of this capital city – a first for a Mexican company – with Mexico’s ambassador to the United States and Deacero’s chief executive officer, and the president of its U.S. company welcoming a large group of guests. […]

Montenegro Sets Roadmap For Carbon Neutral Future

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(Montenegro Ministry of Ecology, 3.Nov.2021) — The Government of Montenegro is accelerating the pace of its journey towards global net zero. This includes an increase in emission reduction targets and participation in global initiatives such as the UN’s No New Coal agreement, the Global Oceans Alliance and the Sofia Declaration. Despite only […]

AES Reaffirms 7%-9% Annualized Growth Target Through 2025

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(AES, 3.Nov.2021) — The AES Corporation (NYSE: AES) reported financial results for the quarter ended 30 September 2021. Strategic Accomplishments Signed 4 GW of new PPAs for renewable energy projects in year-to-date 2021, increasing the backlog to 9.2 GW Based on year-to-date 2021 progress, increasing full year 2021 target to sign renewables under long-term […]

Venezuela Asset Debacle Splits GuaidĂł Camp

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(Argus, 2.Nov.2021) — Two major Venezuelan opposition parties today voted against a decree issued by US-backed shadow parliamentary leader Juan GuaidĂł, an unprecedented rupture that foreshadows the expiry of his constitutional claim to an interim presidency in January 2022. Decree number 38, which GuaidĂł first presented in early October, called for […]

NRGBriefs: Argentina’s Vaca Muerta-San Jerónimo Pipeline

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(Energy Analytics Institute, 1.Nov.2021) — Energy briefs including YPF’s President Pablo GonzĂĄlez saying the national government would be revealing details “within a few days” regarding a new gas pipeline project that would transport production from the Vaca Muerta formation to San JerĂłnimo and potentially on to Brazil; details of around […]

TGS Reveals New 3D Multi-Client In Egyptian Red Sea

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(TGS, 29.Oct.2021) — TGS, a global provider of energy data and intelligence, announced a new 3D seismic survey in the Red Sea, Egypt, in partnership with Schlumberger. The project will encompass approximately 6,800 square kilometers and will be acquired with long offsets and processed using a Pre-Stack Depth Migration (PSDM) […]

NRGBriefs: Atlantic LNG’s Carbon Abatement Plan

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(Energy Analytics Institute, 29.Oct.2021) — Energy briefs including Atlantic LNG revealing its carbon abatement strategy; Brazil’s oil giant Petrobras reducing its gross debt load to $59.6bn in the 3Q:21; and more. LATIN AMERICA AND THE CARIBBEAN Colombia — GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) entered into and closed an […]

Mainstream To Deliver 1.27GW For South Africa

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(Mainstream, 29.Oct.2021) — Global wind and solar company, Mainstream Renewable Power announces that twelve of its projects have won preferred bidder status in Round 5 of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The wind and solar projects, which have a total capacity of 1.27 GW, represent […]

Major Energy Exporters Race To Lead In Global Hydrogen Trade

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(WoodMac, 28.Oct.2021) — The time is ripe for the world’s major energy exporters to accelerate the energy transition, and mastering the hydrogen trade could make a difference, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).   The global energy market was worth an eye-watering $2tn in 2020, contributing to more than […]

Pemex Releases 3Q:21 Results [PDF Downloads]

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(Pemex, 28.Oct.2021) — For the fourth quarter in a row, crude oil production increased and recorded 1,752 Mbd without partners’ production. This increase as compared to the same period of the previous year represents five per cent. Moreover, crude oil processing levels recorded 696 Mbd. During January-September, Pemex transferred almost […]

ENAP Reports Profits of Ch$90bn as of 3Q:21

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(ENAP, 28.Oct.2021) — Empresa Nacional del PetrĂłleo (ENAP), achieved a profit of Ch$90bn (US$109.9mn) in the third quarter of this year, compared to a loss of Ch$103bn (US$127.2mn) in the same period of the previous year, equivalent to a better result of Ch$190bn (US$237.1mn). These figures reaffirm the positive trend […]

Pemex Swings To $3.8bn Loss In Third Quarter

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(Ft.com, 28.Oct.2021) — Mexico’s state oil company reported a 77.2bn peso ($3.8bn) loss in the third quarter of the year because of a higher tax burden and large foreign exchange losses from a weaker peso. That followed a profit of 1.4bn pesos in the year-ago quarter. Pemex on Thursday revealed total crude […]

Mexico Lowers Pemex Tax Burden

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(S&P Global Platts, 28.Oct.2021) — The Mexican government has reduced the tax rate that state oil company Pemex will pay in 2022 to 40% from 54% currently, which could help it achieve its goals of producing a little over 2 million b/d by the end of the administration’s term. The […]

Mexico Moves To Re-Nationalize Energy Markets

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(Forbes, 28.Oct.2021) — Recent moves by Mexico’s government targeting the country’s energy industry have led to increasing concerns that President AndrĂ©s Manuel LĂłpez Obrador (AMLO) intends to ultimately re-nationalize the nation’s entire energy sector. This happened once before in 1938 and has never served Mexico’s national interest well, a reality […]

Hess Updates On Guyana Activities

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(Hess, 27.Oct.2021) — At the Stabroek Block (Hess – 30%), the corporation’s net production from the Liza Field was 32,000 bopd in the third quarter of 2021 compared with 19,000 bopd in the prior year quarter. The Liza Unity FPSO, with an expected capacity of 220,000 gross bopd, arrived at […]

TechnipFMC and Saipem to Unlock New Opportunities

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(TechnipFMC, 27.Oct.2021) — TechnipFMC (NYSE: FTI) (PARIS: FTI) and Saipem (MILAN: SPM) entered into a global commercial agreement that will allow them to identify projects worldwide that could be jointly executed for the benefit of clients. The commercial agreement will pursue specific Subsea Umbilicals, Risers and Flowlines (SURF) projects where […]

NRGBriefs: Liza Unity FPSO Reaches Guyana

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(Energy Analytics Institute, 27.Oct.2021) — Energy briefs including the Liza Unity FPSO reaching Guyana’s prolific Stabroek Block; liquefied petroleum gas (LPG) reaching approximately 12mn users across Colombia; and more. LATIN AMERICA AND THE CARIBBEAN Brazil –Brazil’s ANP published the complete version of the Brazilian Statistical Yearbook of Petroleum, Natural Gas […]