(Reuters, 23.Jul.2021) — Beijing’s crackdown on the misuse of import quotas combined with the impact of high crude prices could see China’s growth in oil imports sink to the lowest in two decades in 2021, despite an expected rise in refining rates in the second half. Shipments into the world’s […]
Sanctioned Citgo At Disadvantage To Rivals
(Reuters, 23.Jul.2021) — Sanctions barring U.S. imports of Venezuelan crude put refiner Citgo Petroleum Corp at a disadvantage to better-financed rivals, the board chair named by Venezuela’s political opposition for state oil company PDVSA said on Friday. Many refineries on the U.S. Gulf Coast – including Citgo’s facilities in Texas […]
Venezuelans Enduring Day-Long Waits to Fill Gasoline Tanks
(Bloomberg, 23.Jul.2021) — Venezuela’s capital city is once again rationing gasoline after output at state-owned refineries slumped, forcing motorists to endure day-long queues to top off tanks. Shortages have returned to Caracas, prompting drivers to prowl the streets for open filling stations as lines stretch for blocks in some areas. […]
Zacatecas Silver Reveals DTC Eligibility
(Zacatecas, 23.Jul.2021) — Zacatecas Silver Corp.’s (TSXV: ZAC) (OTC: ZCTSF) (FSE: 7TV) common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the United States. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing […]
Solaris Files La Verde Technical Report
(Solaris, 23.Jul.2021) — Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) announces the filing of a technical report for La Verde further to its news release of 12 May 2021. As La Verde has been on care and maintenance since 2016, the company filed an early exploration stage technical report for […]
LatAm Briefs: Argentine Output, Colombian Renewables
(Energy Analytics Institute, 22.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: daily production details from Argentina’s Neuquén region to 13 renewable projects identified by Colombia’s Ecopetrol and more. Argentina — Daily production in Argentina’s Neuquén region reached a record 193,000 barrels per day, the highest volume […]
Venezuela Snubs Sanctions With Oil Import
(Bloomberg, 22.Jul.2021) — Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power. The supertanker Rene is discharging a hydrocarbon known as condensate at the Venezuelan port of Jose, according to a document […]
China’s CCPC Takes Center Stage In Iran
(Reuters, 22.Jul.2021) — A Chinese logistics firm has emerged as a central player in the supply of sanctioned oil from Iran and Venezuela, even after it was blacklisted by Washington two years ago for handling Iranian crude, seven sources with knowledge of the deals told Reuters. The more prominent role […]
Shell Delivers First Natural Gas From Barracuda Project
(Shell, 22.Jul.2021) — Shell Trinidad and Tobago (through BG International, a subsidiary of Royal Dutch Shell plc) today announces that production has started on Block 5C in the East Coast Marine Area (ECMA) in Trinidad and Tobago. This marks a significant milestone in the delivery of gas both domestically and […]
bp Acquires AI-driven Open Energi
(bp, 22.Jul.2021 ) — bp acquired UK-based digital energy business Open Energi. The company’s digital platform uses real-time data to optimise the performance of energy assets. It can generate savings and maximise revenues for customers by connecting to power markets and providing flexibility at times of low renewable generation and […]
Petrobras Highlights 2Q:21 Output, Sales
(Petrobras, 22.Jul.2021) — In 2Q21, Petrobras continued to operate safely and had a solid operating performance, despite the persistence of the pandemic scenario. The average production of oil, NGL and natural gas reached 2.80 MMboed, 1.1% above 1Q21, due to the continued ramp-up of platforms P-68 (Berbigão and Sururu fields) […]
AbraSilver Resource Corp Joins OTCQX
(OTC Markets Group, 21.Jul.2021) — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced AbraSilver Resource Corp (TSX-V: ABRA; OTCQX: ABBRF), silver-gold focused advanced-stage exploration company, has qualified to trade on the OTCQX® Best Market. AbraSilver Resource Corp upgraded to OTCQX from […]
Hess Corp. Sets New Emission Reduction Targets
(Hess, 21.Jul.2021) — Hess Corporation announced publication of its 24th annual sustainability report, which provides a comprehensive review of the company’s strategy and performance on environmental, social and governance (ESG) programs and initiatives. Hess Corporation’s 2020 Sustainability Report is available on the company’s website at www.hess.com/sustainability/sustainability-reports. Significantly outperformed five year […]
US Extends Protection For Citgo
(Reuters, 20.Jul.2021) — The United States on Tuesday extended a measure protecting Venezuelan-owned U.S. refiner Citgo Petroleum Corp PDVSAC.UL from bondholders seeking a stake in the company to collect on unpaid debts from state-owned oil company PDVSA, Citgo’s owner. Holders of PDVSA’s 2020 bond, which is backed by a majority […]
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US Extends Citgo Protection [PDF Download]
(Department of the Treasury, 20.Jul.2021) — The Office of Foreign Assets Control (OFAC) issued the following update to General License No. 5G related to PDVSA and Citgo Petroleum. Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 5G Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 […]
CEOs Call For G20 To ‘Get Serious’ About Renewables
(GWEC, 19.Jul.2021) — The leading CEOs of the global wind industry have united to call on G20 members to show leadership in the climate crisis by raising national ambitions and urgently laying out concrete plans for increased wind energy production to replace fossil fuels. Representing the Global Wind Energy Coalition […]
Brazilian Gas Availability Up 4.5% In June
(Argus, 19.Jul.2021) — The amount of Brazilian natural gas output offered to the market after flaring, loss and reinjection rose by 4.5pc in June from a year earlier and by 1.7pc from the prior month, to 58mn m³/d (2.04 Bcf/d). The increase is the result of a 5.6pc boost in […]
Petrotrin Pension Plan In Deficit
(Trinidad Express, 19.Jul.2021) — Most members of the Petrotrin Employees Pension Plan are in danger of not receiving their full pension benefits due to a $1.6 billion deficit in the plan. President-General of the Oilfield Workers’ Trade Union, Ancel Roget, said those in danger include employees who retired before the […]
BP: No Gas For Train 1
(Trinidad Express, 19.Jul.2021) — Energy major BP said there is no “ongoing fight” between itself and the minority shareholder of Atlantic, Royal Dutch Shell. In a statement issued late yesterday, responding to an Express story, the London-based energy company said it has been working closely with the other Atlantic LNG […]
Big Energy Fights Over Atlantic
(Trinidad Express, 18.Jul.2021) — No definitive decision has as yet been taken to mothball Atlantic Train I, industry insiders have said. According to these insiders, reports of the plant being mothballed should be seen as part of the ongoing fight between BP and Royal Dutch Shell, two of the world’s […]
Trinidad’s MEEI Reflects On Atlantic LNG Train 1
(MEEI, 17.Jul.2021) — The Government has been in discussions with all of the shareholders of Atlantic LNG for months with respect to the future of Atlantic LNG. These discussions are ongoing and at a very sensitive stage. The Government and the National Gas Company of Trinidad and Tobago (NGC) have […]
bp To Send Carbon Offset LNG To Energía Costa Azul
(bp, 16.Jul.2021) — bp Gas Marketing Limited (bpGM), Sempra LNG and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), entered into a contract for the delivery and receipt of the companies’ first carbon offset Liquefied Natural Gas (LNG) cargo. The cargo is expected to be delivered to the Energía Costa Azul (ECA) terminal […]
Atlas Renewable, Unipar Ink PPA In Brazil
(Atlas Renewable, 16.Jul.2021) — Atlas Renewable Energy, an international leading renewable energy company, along with Unipar, a leader in chlorine, chlorides, and PVC in South America, announced today the signing of a large-scale solar energy power purchase agreement (PPA) in Brazil. The clean solar energy supply will be generated through […]
Frontera Reveals Expected 2Q:21 Production Results
(Frontera, 16.Jul.2021) — Frontera Energy Corporation (TSX: FEC) expects second quarter production results and updated its production guidance for 2021. Second Quarter and First Half 2021 Production Update Frontera expects its second quarter 2021 production will average approximately 35,700 boe/d, compared to 40,599 boe/d in the first quarter of 2021. […]
Korea National Oil Paying Fines In Peru
(Business Korea, 16.Jul.2021) — Korea National Oil Corp. (KNOC), POSCO International and SK Innovation paid a fine of billions of won to the Peruvian government in withdrawing from Block 8 for a decline in profitability. The fine is for environmental restoration and the South Korean companies may have to pay more. […]
Vale Gets Permission To Import LNG
(S&P Global, 15.Jul.2021) — Brazilian multinational metals and mining company Vale has received permission from ANP, Brazil’s energy regulator, to import LNG for its own industrial uses. The company has been authorized to import 1.66 cu m of gas equivalent per day for use in heating the company’s industrial ovens, […]
Excelerate Energy, Snam, And Albgaz Sign MOU To Pursue New Gas Pipeline
(Excelerate, 15.Jul.2021) — Excelerate Energy L.P., Snam S.p.A, and Albgaz Sh.a signed a Memorandum of Understanding (MOU), in Tirana, Albania, to explore potential cooperation for the construction of a natural gas pipeline from the Albanian Vlora Terminal to other natural gas infrastructure opportunities in Albania. Under this MOU, Excelerate, Snam, […]
ANP Authorizes To Import LNG
(Argus, 14.Jul.2021) — Brazil has authorized iron ore producer Vale to import LNG to serve its own heating demand. Brazilian oil and gas regulation agency (ANP) will allow Vale to import LNG equal to 1.66mn m³/d (58.6mn cf/d) of regasified fuel, to be supplied by any country, by sea transport. […]
Cyprus Emerges As sanctions Workaround For Venezuela
(Lloyd’s List, 14.Jul.2021) — Until last year, Greek shipowners accounted for 80% of crude lifted from Venezuela, undeterred by US sanctions. Then, six vessel-owning companies connected with four prominent owners were briefly blacklisted for breaching US sanctions, forcing all Greek-owned vessels involved in these trades to rethink and recalibrate business […]
Petrobras Finalizes Sale Of Rio Ventura Cluster
(Petrobras, 14.Jul.2021) — Petrobras, following up on the release disclosed on 21 August 2020, informs that today it has concluded the sale of its total interests in eight onshore exploration and production fields, jointly called Rio Ventura Cluster, located in the state of Bahia, to 3R Rio Ventura S.A., a […]
Italian Court Accepts Extradition Request For Former Minister Ramirez
(Reuters, 14.Jul.2021) — An Italian court on Wednesday approved an extradition request for Venezuela’s former Oil Minister Rafael Ramirez, who is charged with corruption, Venezuelan state television said. Authorities in the South American country had sought an Interpol red notice – a request to law enforcement worldwide to locate and […]
Bolsonaro Authorizes Eletrobras Privatization
(Xinhua, 13.Jul.2021) — Brazilian President Jair Bolsonaro signed into law on Tuesday a bill approved by Congress that paves the way for the privatization of state-owned electric utility company Eletrobras, according to the country’s Official Gazette. Among other measures, the regulatory framework will include the issuance of new Eletrobras shares […]
Citgo Dismisses LPG Supply Plan For Venezuela
(Argus, 13.Jul.2021) — Citgo, the US refining arm of Venezuelan state-owned PdV, told Argus it has no immediate plan to supply LPG to Venezuela under new US authorization for sale of the cooking fuel to the Opec country. “We are aware that OFAC recently issued General License 40, authorizing certain transactions involving […]
Minister Young Chairs 55th Council Of Experts
(MEEI, 13.Jul.2021) — Trinidad and Tobago assumed the Presidency of the Latin American Energy Organisation (OLADE) for the period 2021-2022 at the meeting of Ministers held virtually in November 2020. In his capacity as President of OLADE, The Minister of Energy and Energy Industries and Minister in the Office of […]
Minister Young Visits Ortoire Block
(MEEI, 13.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. and his MEEI team braved the elements yesterday to visit the Ortoire Block via an invitation from Touchstone Exploration Inc to conduct a seismic survey. […]
Guyana Re-launches Search For Co. To Market Govt’s Oil
(Reuters, 12.Jul.2021) — Guyana is re-launching a search for a company to market the government’s share of crude oil produced off the South American country’s coast to make the tender process “simpler and more competitive,” the natural resources minister said on Monday. According to the notice published late last week, […]
Washington Allows LPG Exports To Venezuela
(S&P Global Platts, 12.Jul.2021) — The US Department of Treasury granted a sanctions waiver July 12 allowing US companies to export or re-export LPG supplies to Venezuela, the first move by the Biden administration to ease sanctions on the economically hard-hit country. A propane shortage in Venezuela has forced many […]
Petrobras To Divest Papa-Terra Field
(Petrobras, 12.Jul.2021) — Petrobras, following up on the releases disclosed on 17 April 2020 and 24 November 2020, informs that it has signed with the company 3R Petroleum Offshore S.A. (3R Offshore) a contract for the sale of the totality of its participation in the Papa-Terra production field, located in […]
Petrobras Inks Itapu Coparticipation Deal
(Petrobras, 12.Jul.2021) — Petrobras signed with Pré-sal Petróleo S.A. (PPSA) the Itapu Coparticipation Agreement, which will regulate the coexistence of the Transfer of Rights Contract (ToR) and the Production Sharing Contract (PSC) for the Suplus of the Transfer of Rights for the Itapu field, in the Santos Basin pre-salt area. […]
Cox Energy Begins Capital Increase Process
(Cox Energy, 12.Jul.2021) — Cox Energy América, S.A.B. de C.V. (BIVA: COXA*), a renewable solar energy (photovoltaic) generating company, informs that it begun the preferred subscription rights process for holders of common and registered shares, which have no face value and are identified by the ticker (BIVA: COXA) (BMV: COXA), […]
Bristow Reveals Contract Extensions In Norway
(Bristow Group, 12.Jul.2021) — Bristow Group Inc. (NYSE: VTOL) announced four separate two-year contract extensions through April 2024 with Equinor, Shell and Neptune to support its air transportation crew change services for their operations in the Norwegian continental shelf. Bristow has been an Equinor aviation partner for more than 20 […]
Canadian Solar To Enter Energy Storage Project In Colombia
(Canadian Solar, 12.Jul.2021) — Canadian Solar Inc. (NASDAQ: CSIQ) has been awarded the first utility-scale battery storage project in Colombia of 45 MW / 45 MWh. The project was awarded in the public tender launched by Colombia’s Ministry of Energy and Mines, via its affiliate UPME, the Mining and Energy […]
Frontera Updates On Guyana Exploration
(Frontera Energy, 12.Jul.2021) — Frontera Energy Corporation (TSX: FEC), the majority shareholder of CGX Energy Inc. (TSXV: OYL) and joint venture partner in the Petroleum Prospecting Licenses for the Corentyne and Demerara blocks offshore Guyana, announced an update on the activities related to the Corentyne block. Exploration The Kawa-1 well, […]
US OKs LPG Exports To Venezuela
(Energy Analytics Institute, 12.Jul.2021) — The US Office of Foreign Assets Control (OFAC) issued general license no. 40 which allows “all transactions and activities related to the exportation or reexportation, directly or indirectly, of liquefied petroleum gas to Venezuela, involving the government of Venezuela, Petróleos de Venezuela, S.A. (PDVSA), or […]
Ecopetrol Reports Uptick In Oil Output
(Ecopetrol, 12.Jul.2021) — Ecopetrol S.A. (BVC: Ecopetrol; NYSE EC) informs about the recovery of its operations in the upstream, midstream, downstream and sales and marketing segments in Colombia, in connection with the adverse impacts the company had observed as a consequence of the restrictions on mobility caused by the public […]
Sonangol, Petrobras Reveal Teaser For Potiguar Basin Stakes
(Petrobras, 9.Jul.2021) — Petrobras started the opportunity disclosure stage (teaser) for the sale, together with Sonangol Hidrocarbonetos Brasil Ltda., of the total stakes of both companies in the onshore exploratory block POT-T-794, belonging to the BT-POT-55A concession, located in the Potiguar Basin, in the State of Rio Grande do Norte. […]
LatAm briefs: ENRE fines, “Zama drama” in Mexico
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 9.Jul.2021, Words: 421) — Energy briefs from the Latin America and Caribbean region including: oil prices remaining above the $75/bbl mark, Argentina’s ENRE imposing fines on Edenor, an energy storage system in Barranquilla, and more. Oil Prices — As of 7 […]
CGX Spuds Long-awaited Guyana Oil Well
(Argus, 8.Jul.2021) — Canadian independent CGX Energy, one of the early movers in Guyana’s offshore play, spudded its first well in the South American country, 21 years after its initial effort derailed because of a border dispute. CGX has started drilling the Kawa-1 well on the shallow-water Corentyne block with […]
Venezuela Resorts To Upgraded Oil For Refineries
(Reuters, 8.Jul.2021) — Venezuela’s state-run oil company PDVSA has started producing two upgraded crude grades for domestic refining, aiming at reanimating the country’s much-needed output of motor fuels, according to a company document and sources close the decision. Years of under-investment in PDVSA’s 1.3 million-barrel-per-day capacity refining network and U.S. […]
Eni Looks To Produce Hydrogen In Egypt
(Eni, 8.Jul.2021) — Eni signed an agreement with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS) to assess the technical and commercial feasibility of projects for the production of hydrogen in the country. The parties will conduct a study into joint projects to produce […]