(DPI, 3.Aug.2021) — The Government is seeking an amendment of the law which would give it greater control over the use of lands, both public and private, by petroleum operators. Minister of Natural Resources, Vickram Bharrat MP, introduced the desired revisions in the Petroleum (Exploration and Production) (Amendment) Bill 2021, […]
Brattle Welcomes Antitrust Expert
(The Brattle Group, 2.Aug.2021) — The Brattle Group welcomed economist Veronica Irastorza as a new Principal in its global Antitrust & Competition practice, based in San Francisco. Ms. Irastorza brings deep expertise in antitrust, contract disputes, and damages to a broad range of matters in the energy industry, including regulation, planning, […]
Ecopetrol Submits Binding Offer For ISA
(Ecopetrol, 2.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that during the meeting held on Friday 30 July 2021, its Board of Directors authorized the Legal Representative of the company to submit a binding offer to acquire the Ministry of Finance and Public Credit’s 51.4% stake of the outstanding shares of Interconexión Eléctrica S.A. E.S.P – […]
Ecopetrol Approved For $1.2bn Credit Line
(Ecopetrol, 2.Aug.2021) — By means of Resolution 1824 of 30 July 2021, the Ministry of Finance and Public Credit authorized the execution of a contingent credit line (“Committed Credit Line”) up to an amount of $1.2bn for Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC). The proceeds from this facility may be […]
Eni Reveals New Oil Find Offshore Mexico
(Eni, 2.Aug.2021) — Eni announces an oil find in Upper Miocene sequences on the Sayulita Exploration Prospect in Block 10 in the mid-deep water of the Cuenca Salina Sureste Basin, Offshore Mexico. According to preliminary estimates the new find may contain between 150 and 200Mboe in place. Sayulita-1 EXP, which […]
Santander Court Revokes Fine On Ecopetrol
(Ecopetrol, 2.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) was notified of the decision issued by the Administrative Court of Santander that voided the 22 December 2011 and 8 August 2016 resolutions, respectively, through which the Ministry of Labor – Territorial Directorate of Santander, imposed a fine of sixteen million sixty-eight […]
Whistler Pipeline Placed in Service in Texas
(WhiteWater, 2.Aug.2021) — The Whistler Pipeline began full commercial service on 1 July 2021 providing approximately 2 billion cubic feet per day (Bcf/d) of incremental natural gas transport capacity to the Texas Gulf Coast markets from the Permian basin, which will help ensure sufficient reliable gas takeaway and reduce natural […]
When Exception Becomes the Norm – Crisis as an Ordinary Experience in Venezuela
(Noria Research, 31.Jul.2021) — For several years now, Venezuela has been plagued by an unprecedented combination of political, institutional, economic, social, health, and security crises. After losing control of the Parliament in 2015, President Nicolás Maduro’s government declared a state of emergency that has not been lifted since. Dissent and […]
Petrobras On Refinery Sales Deadlines
(Petrobras, 30.Jul.2021) — Petrobras has celebrated a new addendum to the Term of Commitment to Cessation (TCC) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the discussions for the effective conclusion of the negotiation processes and to […]
CSI Compressco Reports 2Q:21 Results
(CSI Compressco, 30.Jul.2021) — CSI Compressco LP (NASDAQ: CCLP) announced second quarter 2021 results. Second Quarter 2021 Summary: Total revenues for the second quarter 2021 were $69.8mn, compared to $65.7mn in the first quarter 2021. Compression and related services revenue increased sequentially to $55.3mn in the second quarter 2021 compared […]
![Perenco CEO Benoît de la Fouchardière Talks Trinidad [Q&A]](https://energy-analytics-institute.org/wp-content/uploads/2020/12/perence-platform-trinidad.jpg)
Perenco CEO Benoît de la Fouchardière Talks Trinidad [Q&A]
(Energy Analytics Institute, 30.Jul.2021) — Perenco’s CEO, Benoît de la Fouchardière responded to questions from Energy Analytics Institute (EAI) about its operations in Trinidad and Tobago. What follows are highlights of the exchange. Perenco’s vision in Trinidad and Tobago Perenco operates production of 450,000 equivalent oil barrels per day (boepd) […]
YPF Announces Management Changes
(Energy Analytics Institute, 30.Jul.2021) — Argentina’s state entity YPF Sociedad Anónima announced several changes in the first level of its senior management structure. YPF revealed the details on 30 July 2021 in an official statement, highlighting the following: — Designation of Mr. José Gustavo Medele as Services Vice President to […]
Gold Fields’ 1H:21 Trading Statement
(Gold Fields, 30.Jul.2021) — Gold Fields Limited (JSE: GFI) (NYSE: GFI) advises that basic earnings per share for the six months ended 30 June 2021 (H1 2021) are expected to be between US¢42-46 per share, an increase of 133-156% (US¢24-28 per share) from the basic earnings of US¢18 per share reported […]
Chevron Reveals 2Q:21 Results
(Energy Analytics Institute, 30.Jul.2021) — Chevron Corporation (NYSE: CVX) reported earnings of $3.1bn or $1.60 per share – diluted for second quarter 2021 (2Q:21) compared to a loss of $8.3bn ($4.44) per share – diluted in the 2Q:20. Included in the current quarter were remediation charges associated with previously sold […]
Petrobras Inks Deal To Divest Power Companies
(Petrobras, 29.Jul.2021) — Petrobras, following up on the release disclosed on 11 September 2020, signed contracts for the sale of its 20% stakes in Termelétrica Potiguar S.A. (TEP) and 40% in Companhia Energética Manauara S.A. (CEM) to Global Participações Energia S.A. (GPE), through its subsidiaries GFT Participações S.A. and GFM […]
NASA’s 10th Space Apps Challenge
(NASA, 29.Jul.2021) — To mark the 10th International Space Apps Challenge, the largest annual global hackathon in the world, NASA is collaborating with nine space agency partners to bring the event to even more communities 2-3 October 2021. Each year, NASA’s International Space Apps Challenge, or Space Apps, engages thousands of […]
Tempers Flare At Online Guyana Gas Forum
(NewsAmericas, 29.Jul.2021) — Tempers flared and the temperature escalated as the Guyana EPA, Ministry of Natural Resources and the Gas-to-Shore project were under fire recently. As participants asked a multiplicity of questions and called for transparency in the proposed project, at the second online forum. Towards the end, Mr. Bobby […]
bpTT: Gas Forecast ‘Subject To Change’
(Trinidad and Tobago Newsday, 29.Jul.2021) — Energy company bpTT on Wednesday expressed concern and disappointment over a newspaper report which claimed there would be a major shortfall in natural gas production and that it had told the Government not to count on it. In a statement, bpTT said the article […]
S&P: We Expect Oil, Gas Output To Rise
(Trinidad Express, 29.Jul.2021) — Rating agency Standard and Poor’s says it expects T&T’s oil and natural gas production to rise next year. But the rating agency, which assessed T&T as a BBB- investment-grade rating this week, said it does not expect the increased production to result in the domestic economy […]
![Canadian Solar Reveals Sustainability Report [PDF download]](https://energy-analytics-institute.org/wp-content/uploads/2020/03/canadian-solar-us-hq-1.jpg)
Canadian Solar Reveals Sustainability Report [PDF download]
(Canadian Solar, 29.Jul.2021) — Canadian Solar Inc. (NASDAQ: CSIQ) announced the release of its 2020 Sustainability Report, which presents the company’s commitments, progress and achievements towards contributing to a better and more sustainable future from an environmental, social and governance (ESG) perspective. The sustainability disclosures in this report are aligned with […]
Ecopetrol Opposes Injunctive Related To ISA
(Ecopetrol, 29.Jul.2021) — Ecopetrol S.A. (BVC: Ecopetrol;NYSE: EC) reports that on 28 July 2021, it filed a statement in opposition to the preliminary injunctive relief requested within a public action (acción popular) to which it was named as defendant by means of a judicial order notified on 21 July. The acción popular […]
Ecopetrol To Host 2Q:21 Conf. Calls
(Energy Analytics Institute, 29.Jul.2021) — Colombia’s state oil giant Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) will release its financial and operating results for the second quarter of 2021 (2Q:21) on 3 August 2021, after market close. On 4 August the company’s senior management will host two conference calls to review the […]
Frontera To Host 2Q:21 Results Conf. Call
(Energy Analytics Institute, 29.Jul.2021) — Frontera Energy Corporation (TSX: FEC) plans to release its second quarter 2021 (2Q:21) results after markets close on 11 August 2021. A conference call for investors and analysts will be held on 12 August at 10:00 a.m. Eastern Time. Participants on the call will include […]
France’s TotalEnergies exits Petrocedeño JV in Venezuela, concedes $1.38bn capital loss
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 29.Jul.2021, Words: 161) — TotalEnergies, through its affiliate Total Venezuela, has decided to transfer its non-operated minority participation of 30.32% in Petrocedeño S.A. to Corporation Venezonala de Petróleos (CVP), an affiliate of Petróleos de Venezuela (PDVSA). Equinor having also decided to transfer in […]
TotalEnergies Reveals Another Well In Suriname’s Block 58
(TotalEnergies, 29.Jul.2021) — TotalEnergies and Apache Corporation encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi and Keskesi. Located 4 kilometers south-east of the Sapakara West-1 discovery, Sapakara South-1 was drilled in a […]
Equinor Sales Faja Stake To CVP
(Equinor, 29.Jul.2021) — Equinor and state-owned Petróleos de Venezuela (PDVSA) have completed a transaction whereby Equinor will transfer its 9.67% non-operated interest in the Petrocedeño project onshore Venezuela to Corporación Venezolana del Petróleo (CVP), a PDVSA company. The Petrocedeño project aims to upgrade extra-heavy crude oil into lighter crude from […]
WoodMac On Guyana And Suriname Exploration
(WoodMac, 29.Jul.2021) — Wood Mackenzie’s Latin America upstream senior analyst Luiz Hayum commented on the latest exploration results offshore Guyana and Suriname: “In a year thin of deepwater discoveries, Guyana and Suriname continue to deliver great exploration results, with the Whiptail discovery and the successful Sapakara appraisal. “The two successful […]
LatAm Briefs: Train 1 Mothballing, CVP Appointments
(Energy Analytics Institute, 28.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: rising Brazilian imports of US LNG, Ecopetrol’s electric vehicles fleet, Hess reports 2Q:21 results, Trinidad ponders mothballing Atlantic LNG’s Train 1, new appointments at CVP in Venezuela, and more. Brazil — Brazil’s imports of US […]
ExxonMobil Reveals Oil Find at Whiptail
(ExxonMobil, 28.Jul.2021) — ExxonMobil said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) […]
S&P Upgrades Petrobras’ Credit Profile
(Petrobras, 28.Jul.2021) — Petrobras informs that the rating agency S&P Global Ratings raised its stand-alone credit profile (intrinsic risk) by one notch, from “bb” to “bb+”. The agency affirmed the global scale rating of the company’s corporate debt at “BB-“, two levels below the stand-alone credit profile, due to Brazil’s […]
Petrobras Inks Contract To Divest Gaspetro
(Petrobras, 28.Jul.2021) — Petrobras, following up on the releases disclosed on 10 June 2020 and 30 December 2020, informs that it has signed a contract with the company Compass Gás e Energia S.A. for the sale of all its stake (51%) in Petrobras Gás S.A. (Gaspetro). The sale value is […]
Petrobras On Favorable Labor Lawsuit
(Petrobras, 28.Jul.2021) — Petrobras informs that, on this date, it became aware of a favorable decision handed down by the Minister Reporter of the Federal Supreme Court, in appeals filed against the decision of the Superior Labor Court on the review of the methodology for calculating the Minimum Compensation Per […]
Hess Corp.’s Transcript For Its 2Q:21 Results Call
(Seeking Alpha, 28.Jul.2021) — The earnings call transcript from Hess Corporation’s (NYSE:HES) second quarter 2021 earnings conference call on 28 July 2021. Corporate Participants Jay Wilson – VP, Investor Relations John Hess – Chief Executive Officer Greg Hill – Chief Operating Officer John Rielly – Chief Financial Officer Conference Call […]
Weatherford Reveals 2Q:21 Results
(Weatherford, 28.Jul.2021) — Weatherford International plc (NASDAQ: WFRD) announced its results for the second quarter of 2021. Revenues for the second quarter of 2021 were $903mn, an increase of 9% sequentially and 10% year-on-year. Reported operating income was $25mn in the second quarter of 2021, compared to an operating loss of $13 […]
Oceaneering Reports 2Q:21 Results
(Oceaneering, 28.Jul.2021) — Oceaneering International, Inc. (NYSE:OII) reported net income of $6.2mn, or $0.06 per share, on revenue of $498mn for the three months ended 30 June 2021. Adjusted net income was $10.4mn, or $0.10 per share, reflecting the impact of $3.2mn of pre-tax adjustments associated with a loss on the sale […]
Arctech Delivers 575MW SkySmart II Trackers In North China
(Arctech, 28.Jul.2021) — Arctech (SSE-STAR: 688408), the world’s leading tracking, racking, and BIPV solutions provider, announced that it had delivered SkySmart II tracking system to a 575MW agriculture-sharing solar project located in Nangong City, Hebei Province, China. This largest 2P multi-point drive tracking system + bifacial modules project withstood multiple […]
Hess Reveals Oil Find At Whiptail-1
(Hess, 28.Jul.2021) — Hess Corporation (NYSE: HES) announced a significant oil discovery on the Stabroek Block offshore Guyana at Whiptail. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which is located 3 […]
MEEI Minister Delivers Address At Atlantic LNG Event
(MEEI, 27.Jul.2021) — The Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister The Honourable Stuart R. Young M.P delivered the feature address at the opening of Atlantic LNG’s 9th Process Safety Week 2021 virtually from the International Waterfront Complex Office of the Ministry […]
Guyana Revives Hydro Project
(Trinidad Express, 27.Jul.2021) — The Guyana government says it is seeking to revive the 165 Megawatts (MW) Amaila Falls Hydropower project (AFHP) and hoping to start construction in 2022 with a completion date in 2025. The former coalition A Partnership for National Unity (APNU) in 2017 halted the project that […]
![Andrés Pastrana Talks Of Colombia Situation [Video]](https://energy-analytics-institute.org/wp-content/uploads/2021/08/Dionisio-Gutierrez-meets-with-Andres-Pastrana.jpg)
Andrés Pastrana Talks Of Colombia Situation [Video]
(Fundación Libertad y Desarrollo, 27.Jul.2021) — Dionisio Gutiérrez, President of Fundación Libertad y Desarrollo, recently met with the former president of Colombia, Andrés Pastrana, and discussed the political situation in the Latin American region, particularly the emergence of a new wave of populist dangers. Regarding the return of populism and […]
Central America’s Private Sector Plays A Big Role In Corruption, Too
(World Politics Review, 27.Jul.2021) — The word corruption tends to evoke images of self-dealing politicians and bureaucrats, and for good reason. In Central America, graft is so endemic among public officials that it constitutes a “root cause” of out-migration from the region, according to U.S. President Joe Biden’s administration. But […]
Canadian Solar Raises $100mn To Support Brazil Project Portfolio
(Canadian Solar, 27.Jul.2021) — Canadian Solar Inc. (NASDAQ: CSIQ) closed a BRL 500mn (approximately $100mn) financing facility with Brazilian banks BTG Pactual and Itaú BBA. Canadian Solar will use the financing facility for the development and construction of solar projects in Brazil, where the Company has established a leadership position in the […]
Nabors Reports 2Q:21 Results
(Nabors, 27.Jul.2021) — Nabors Industries Ltd. (NYSE: NBR) reported second quarter 2021 operating revenues of $489mn, compared to operating revenues of $461mn in the first quarter of 2021. The net loss from continuing operations attributable to Nabors common shareholders for the quarter was $196mn, or $26.59 per share. The second […]
Wellesley In Asset Swap With Equinor
(Wellesley Petroleum, 26.Jul.2021) — Wellesley Petroleum AS and Equinor Energy AS signed a Sale and Purchase Agreement covering several development assets on the Norwegian Continental Shelf. The transaction is as follows: Equinor to acquire a 40% participating interest in licences PL090 JS, PL248 I and PL925, containing the Grosbeak and Kallåsen discoveries. […]
JinkoSolar Selected As An Eco-Leader
(JinkoSolar, 26.Jul.2021) — JinkoSolar Holding Co., Ltd. has been selected as an “Eco-Leader” by Green Builder® Media for the third time. Green Builder® Media selects Eco-Leaders every year as a way to honor companies who have taken exemplary steps towards sustainability for their business practices. With this year’s theme focused on […]
China Private Oil Refiner Dodged $2bn Tax
(Bloomberg, 26.Jul.2021) — A report by China’s state-run newspaper has singled out independent oil refiner Hengli Petrochemical Co. for allegedly skirting taxes in a move that could prompt more government scrutiny of the so-called teapot sector. The private company allegedly passed off sales of fuels — namely gasoline and diesel — as […]
Talos Updates On Recent Drilling
(Talos, 26.Jul.2021) — Talos Energy Inc. (NYSE: TALO) announced preliminary production estimates for the second quarter of 2021, successful first production from the company’s Tornado Attic well and successful drilling of the company’s Crown and Anchor well. Talos estimates that average daily production for the second quarter of 2021 was […]
Shell Invests In GOM Whale Development
(Shell, 26.Jul.2021) — Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, announces the final investment decision (FID) for Whale, a deep-water development in the U.S. Gulf of Mexico that features a 99% replicated hull and an 80% replication of the topsides from our Vito project. “Whale is the […]
bp Announces Cassia C Installation
(bpTT, 26.Jul.2021) — bp Trinidad and Tobago LLC (bpTT) announced the installation of the topsides of its Cassia Compression (Cassia C) platform off Trinidad’s east coast. The installation marks a significant milestone in the Cassia C project which will enable bpTT to access and produce low pressure gas reserves from currently-producing fields in the Greater […]
KBR Inks Lithium Process Deal With Neo Lithium Corp.
(KBR, 26.Jul.2021) — KBR (NYSE: KBR) has been awarded a contract by Neo Lithium Corp. in Argentina for its Tres Quebradas Lithium Project (“3Q Project”). Under the terms of the contract, KBR will implement its evaporation and crystallization technology solutions to ensure the project achieves maximum lithium yields for Neo […]