(DPI, 8.Jul.2021) — His Excellency Dr Irfaan Ali called the relationship between Guyana and the United States of America strong and valuable and pointed to greater partnerships between the two nations moving forward. The Commander in Chief and several senior members of his Government, including the Prime Minister, Brigadier (Ret’d) the […]
Ecopetrol Downgraded By Fitch
(Energy Analytics Institute, 7.Jul.2021) — Fitch Ratings downgraded Ecopetrol S.A.’s downgraded the state oil company’s foreign currency and local currency Issuer Default Ratings to BB+ from BBB- with a Stable Outlook. The downgrade is in line with a similar action on the rating of the Republic of Colombia. Ecopetrol’s stand-alone […]
Eni Find Oil In Ghana’s Block 4
(Eni, 6.Jul.2021) — Eni announces a significant oil discovery on the Eban exploration prospect in CTP Block 4, offshore Ghana. The Eban – 1X well is the second well drilled in CTP Block 4, following the Akoma discovery. Preliminary estimates place the potential of the Eban–Akoma complex between 500 and […]
Encora Acquires Daitan
(Encora, 6.Jul.2021) — Encora, a global next-gen product engineering provider, announced the acquisition of Daitan, a leading provider of software engineering services. The acquisition adds 600 engineers and proprietary product capabilities, expanding Encora’s global talent pool to 5,500 engineers. Daitan has offices in San Ramon, CA and R&D centers in […]
New Fortress Secures LNG Supply
(New Fortress, 6.Jul.2021) — New Fortress Energy Inc. (NASDAQ: NFE) reached an agreement for liquefied natural gas (LNG) supply that will cover the remaining volumes for NFE’s existing natural gas and electricity businesses through the end of 2027. “This transaction secures our LNG supply for the next several years across […]
Patterson-UTI Energy To Buy Pioneer Energy Services
(Patterson-UTI Energy, 6.Jul.2021) — Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295mn, which includes the retirement of all Pioneer Energy Services‘ debt. Consideration for this acquisition consists of the issuance of up to 26,275,000 shares of Patterson-UTI common stock plus payment […]
Edenor Names Bleasdale As CEO
(Edenor, 6.Jul.2021) — Empresa Distribuidora y Comercializadora norte S.A. (Edenor; BYMA/NYSE: EDN), the largest electricity distribution company in Argentina, announces that the Chairman of the Board, Mr. Neil A. Bleasdale, has been appointed as Chief Executive Officer (CEO) of the company and Mr. Germán Ranftl as Chief Financial Officer (CFO). […]
RPC, Inc. Reveals Date Of 2Q:21 Conf. Call
(RPC, 6.Jul.2021) — RPC, Inc. (NYSE: RES) will release its financial results for the second quarter ended 30 June 2021 on Wednesday, 28 July 2021 before the market opens. In conjunction with its earnings release, the company will host a conference call to review the company’s financial and operating results […]
AES To Retire More Than 1 GW Of Coal In Chile
(AES, 6.Jul.2021) — The AES Corporation (NYSE: AES) signed an agreement with the Government of Chile, represented by Chile’s President Sebastián Piñera, together with Minister of Mines and Energy Juan Carlos Jobet and Minister of the Environment Carolina Schmidt, allowing for the closure of 1,097 MW of coal generation as […]
LatAm Briefs: Rio Negro Drilling, Ecuador Production
(Energy Analytics Institute, 5.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: plans to reactivate 77 wells in Argentina’s Río Negro region, EP PetroEcuador and Repsol Ecuador S.A. inking a deal for the use of a topping plant in Ecuador, Ecuador’s production reached 491,497 b/d on 1 […]
Eco Atlantic Confident In Guyana Despite Jabillo-1 Setback
(ProActive, 5.Jul.2021) — Eco Atlantic Oil & Gas Ltd (LON:ECO, TSE:EOG) chief executive Gil Holzman remains confident in the Canje block, offshore Guyana, where Exxon is now lining up its next drill plans. It comes as Exxon’s Jabillo-1 well exploration well was safely drilled down to its target depth of […]
Talos Energy Provides Update On Zama
(Talos Energy, 5.Jul.2021) — Talos Energy Inc. (NYSE: TALO) provided an update regarding operatorship for the company’s Zama asset in offshore Mexico. On 2 July 2021, Talos was notified by Mexico’s Ministry of Energy (SENER) it had designated Petróleos Mexicanos (Pemex) as the operator of the Zama unit, just three […]
Eco Atlantic Says Jabillo-1 Well Shows Non-commercial
(Eco Atlantic, 5.Jul.2021) — Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSX‐V:EOG) has received a detailed update from JHI Associates Inc. The Jabillo-1 well in the Canje Block, offshore Guyana, reached its planned target depth and was evaluated but did not show evidence of commercial hydrocarbons. Jabillo-1 will now be plugged […]
Golden Arrow Announces Voting Results
(Golden Arrow, 2.Jul.2021) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), announces that at the Annual General Meeting of shareholders held on 30 June 2021, each of the 6 nominees listed in the management information circular filed on 2 June with regulatory authorities were elected as directors of the company. […]
Swiss Insured Brazil Power 9.850% Notes Due 2032
(Swiss Insured Brazil Power, 2.Jul.2021) — Swiss Insured Brazil Power Finance S.à r.l., a private limited liability company (société à responsabilité limitée), incorporated and existing under Luxembourg law, having its registered office at 14, rue Edward Steichen, L-2540 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Register of Commerce […]
Seadrill On Restructuring Discussions
(Seadrill, 2.Jul.2021) — Seadrill Limited (OSE: SDRL, OTCPK:SDRLF) and the Issuer announce that, further to the announcement made by Seadrill and the Issuer on 18 June 2021, the Issuer and certain of its subsidiaries have today agreed key commercial terms for a comprehensive restructuring of the Issuer and entered into […]
Brazil’s Lower-Sulphur Fuel Booms In Asia
(Reuters, 1.Jul.2021) — Brazil is growing its marine fuel oil exports to Asia’s lucrative premium hubs, where rules mandating lower sulphur content have been squeezing out most of its Latin American peers, according to sources and data. Fuel oil exports are the second largest source of energy revenue for most […]
Ecuador Races To Move Oil Pipelines
(Reuters, 1.Jul.2021) — Two dozen workers using six excavators cleared a strip of heavy forest in the foothills of Ecuador’s Reventador volcano on an overcast June morning, rushing to carve a new route for an oil pipeline in hopes of avoiding a repeat of the country’s worst oil spill in […]
Alamo Group Declares Regular Quarterly Dividend
(Energy Analytics Institute, 1.Jul.2021) — The board of directors of Alamo Group Inc. (NYSE: ALG) declared its quarterly cash dividend of $0.14 per share, payable 28 July 2021 to shareholders of record at the close of business on 15 July, the company announced in an official statement. ____________________ By Aaron […]
Mainstream Renewable Closes Financing Deal In Chile
(Mainstream Renewable, 1.Jul.2021) — Global wind and solar company, Mainstream Renewable Power, has achieved financial close for the third and final phase of its “Andes Renovables” wind and solar platform in Chile. The c. $182mn in debt raised will be used to build the “Copihue” phase which consists of one […]
Colombia Anticipates New Offshore Oil Exploration
(Bloomberg, 1.Jul.2021) — Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export. Royal Dutch Shell Plc is planning to drill this year in the Caribbean, while Exxon Mobil Corp., Repsol […]
Duke Energy Florida To Expand Low-income Programs
(Duke Energy, 1.Jul.2021) — Duke Energy Florida filed a proposal with the Florida Public Service Commission to provide additional assistance to customers through the company’s low-income programs. “Our customers remain our top priority. Duke Energy Florida is committed to assisting all of our customers, especially those who are most vulnerable,” […]
Vesta Reveals 2Q:21 Earnings Call
(Vesta, 1.Jul.2021) — Corporación Inmobiliaria Vesta, S.A.B. de C.V. (BMV: VESTA) is inviting persons to its conference call to discuss the second quarter results of 2021. The call will take place: Thursday, July 22, 2021 10:00 a.m. Eastern Time (9:00 a.m. Mexico City time) The conference call can be accessed […]
Jansz-Io Compression Project To Proceed
(Chevron, 1.Jul.2021) — Chevron Corporation (NYSE: CVX) announced that its wholly owned subsidiary Chevron Australia Pty Ltd. as operator and the Gorgon joint venture participants will proceed with the approximately $4bn (AU$6bn) Jansz-Io Compression (J-IC) project. Nigel Hearne, Chevron Eurasia Pacific Exploration and Production president, said J-IC represents Chevron’s most […]
Colombia’s Ecopetrol Incorporates Singapore Affiliates
(Ecopetrol, 1.Jul.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) concluded the incorporation of Ecopetrol Singapore Pte Ltd., a company in which it will directly own 100% of its share capital. In turn, the aforementioned company will own 100% of the share capital of Ecopetrol Trading Asia Pte Ltd., whose main purpose […]
Ecopetrol Gets OK To Issue, Place Bonds
(Ecopetrol, 30.Jun.2021) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) received authorization from the Ministry of Finance and Public Credit, through Resolution 1484 of 29 June 2021, to structure the issuance and placement of bonds in the international capital markets for up to $1.4bn, to finance organic growth opportunities and the […]
Switzerland Investigates Gunvor Links To Ecuador
(Reuters, 30.Jun.2021) — Swiss prosecutors said on Wednesday they are investigating whether bribery, money laundering or other crimes linked to Ecuador oil trading were committed in Switzerland following a U.S. criminal case against an ex-Gunvor Group employee. U.S. prosecutors are investigating “the suspected bribery of Ecuadorian public officials and money […]
Factsheet: Chile’s Energy Minister and Undersecretary
(Chile’s Energy Ministry, 30.Jun.2021) — Details regarding Chile’s energy minister Juan Carlos Jobet and undersecretary Francisco Javier López follow. Energy Minister, Juan Carlos Jobet Jobet holds a degree in Commercial Engineering from the Universidad Católica and a master’s degree in Business Administration and another in Public Administration from Harvard University. […]
Venezuelan Oil Sector Still Confronts Headwinds
(Energy Analytics Institute, 29.Jun.2021) — Venezuela continues to confront headwinds from legal uncertainties to transparency issues to a new tariff on its bitumen exports to China that make it hard for the country to boost production, former Petróleos de Venezuela (PDVSA) Director José Toro Hardy said on 29 June 2021 […]
Venezuela’s Oil Sector Needs Private Investors
(Energy Analytics Institute, 29.Jun.2021) — The private sector must be reintegrated to increase production in Venezuela as it’s the only viable way the country could meet the optimistic production goals of 1.5 million barrels per day by year end as previously announced by President Nicolás Maduro. That’s why the participation […]
Argentina Fuel Sales Drop 8.1% In May 2021
(Energy Analytics Institute, 29.Jun.2021) — Argentina reported that fuel sales in May 2021 fell an average 8.1% compared to April 2021, according to a report by the Confederation of Hydrocarbons and Related Trade Entities (CECHA by its Spanish acronym). Gasoline sales were impacted the most, falling 13.6% sequentially. The drop […]
LatAm Briefs: Chile’s Green Plans, Venezuelan Oil Output
(Energy Analytics Institute, 29.Jun.2021) — Energy briefs from the Latin America and Caribbean region including: Chile and Germany inking a green hydrogen deal, EP PetroEcuador reaching an agreement with the community of El Edén to lift a 45-day blockage, Venezuela’s oil production averaging around 570,000 barrels per day, and more. […]
Indian Oil Corp. Buys Its First Guyanese Oil
(Reuters, 29.Jun.2021) — Indian Oil Corp (IOC.NS), the country’s top refiner, has made its first purchase of Guyana’s Liza light sweet crude as it seeks to diversify its crude purchases, a source familiar with matter said. The 1 million-barrel cargo will set sail around July 4 on Greece-flagged tanker Militos […]
Colombia To Launch Hydrogen Road Map
(Reuters, 29.Jun.2021) — Colombia will launch plans in September to develop the production and use of hydrogen as a long-term clean energy source, the Minister of Mines and Energy said on Tuesday, while voicing hope this year’s oil and gas auction will be successful. The South American country will publish […]
Sempra Gives Strategic Update, Financial Outlook
(Sempra, 29.Jun.2021) — Sempra‘s (NYSE: SRE) (BMV: SRE) senior management team is providing an update on the company’s strategy, operations and financial outlook at its 2021 Virtual Investor Day. “Over the next decade, we see the economies of North America becoming increasingly integrated,” said Jeffrey W. Martin, chairman and CEO […]
Maverix Buys Royalty Portfolio From Pan American Silver
(Maverix Metals, 29.Jun.2021) — Maverix Metals Inc. (NYSE American: MMX) (TSX: MMX) announced acquisition of a portfolio of precious metals royalties from Pan American Silver Corp. Maverix has acquired a portfolio of six royalties from Pan American Silver in exchange for 491,071 common shares of Maverix and a cash payment […]
Magna Achieves Full-Scale Production At San Francisco
(Magna Gold, 29.Jun.2021) — Magna Gold Corp. (TSXV: MGR), (OTCQB: MGLQF) achieved full-scale and steady state commercial production at its 100% owned flagship San Francisco Mine, located in Sonora, Mexico. Commercial production was achieved on schedule on 1 June 2021, as outlined in the company’s press release dated 13 April […]
New Pacific Starts Initial Drilling At Carangas Silver Project
(New Pacific, 29.Jun.2021) — New Pacific Metals Corp. (TSX: NUAG) (NYSE-A: NEWP) commenced an initial discovery drill program at the Carangas Silver Project, Oruro Department, Bolivia. The company has identified near-surface bulk-tonnage and high-grade vein-hosted silver-rich polymetallic targets centred on and adjacent to the historically exploited West and East Dome […]
PDVSA Restarts Drilling Campaign Suspended Since 2019
(S&P Global, 29.Jun.2021) — In the second half of the year, Venezuela’s state-owned PDVSA will restart the drilling of oil wells while intensifying work to open 3,700 shuttered wells and to recover compression and gas injection capacity needed to increase crude output, according to an internal “Operational Follow-up Plan” report […]
Solaris Reveals Results Of Annual General Meeting
(Solaris, 29.Jun.2021) — Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) announces that all matters presented for approval at Solaris’ annual meeting of shareholders held today, as more particularly set out in the company’s Management Information Circular dated 13 May 2021, have been approved. These matters included: — Setting the number […]
Vista Reveals JV With Trafigura For Vaca Muerta Development
(Vista Oil, 28.Jun.2021) — Vista Oil & Gas, S.A.B. de C.V. (NYSE: VIST; BMV: VISTA) announced that its wholly-owned subsidiary Vista Oil & Gas Argentina S.A.U. established an un-incorporated joint venture and has entered into an investment agreement with Trafigura Argentina S.A. for the joint development of, initially, 5 pads […]
Glencore Snaps Up BHP, Anglo Stakes In Colombian Coal Mine
(Reuters, 28.Jun.2021) — Diversified miner Glencore will become the sole owner of the Cerrejon thermal coal mine in Colombia by buying out partners BHP and Anglo American, boosting its coal assets at a time when others are looking to exit the sector. Glencore said on Monday it expects to pay […]
Eco Atlantic Reveals Investment In Guyana
(Eco Atlantic, 28.Jun.2021) — Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX‐V: EOG) closed a transaction with JHI Associates Inc., a private company incorporated in Ontario and headquartered in Toronto, Canada, for Eco to acquire up to a 10% interest in JHI (the ‘Transaction’) and to appoint Keith Hill, […]
Petrobras On Divestment Of Interest In Deten
(Petrobras, 28.Jun.2021) — Petrobras, following up on the release disclosed on 2 June 2021, related to the sale of its 27.88% interest in Deten Química S.A., postponed to 8 July 2021 the deadline to execute the Confidentiality Agreement and the Compliance Certificate and grant access to the Confidential Information Memorandum […]
Petrobras Starts Contracting For Hydrotreatment Unit
(Petrobras, 28.Jun.2021) — Petrobras started an international bidding process, in EPC (engineering, procurement and construction) mode, for the implementation of a new diesel hydrotreatment unit and the necessary auxiliary systems, aiming at adapting and modernizing the refining park at the Paulínia Refinery (REPLAN). With this project, REPLAN will be able […]
KBR Inks FCC Deal With Raízen Argentina
(KBR, 28.Jun.2021) — KBR (NYSE: KBR) has been awarded a contract by Raízen Argentina for modernizing the Fluid Catalytic Cracking (FCC) unit at its Buenos Aires Refinery. Under the terms of the contract, KBR will provide a basic engineering package for the FCC New Configuration Project. KBR will offer its […]
Vista, Trafigura To Accelerate Vaca Muerta Development
(Vista Oil, 28.Jun.2021) — Vista Oil & Gas and Trafigura Argentina signed a joint investment agreement for the development of 20 oil wells in the Bajada del Palo Oeste block. This joint investment of approximately $250mn represents an important capital investment in Vaca Muerta Shale which is located in the […]
Brazil A Complex Place To Do Business
(TMF Group, 28.Jun.2021) — The comprehensive report by TMF Group, a leading professional services firm, analyses rules, regulations, tax rates, penalties and compliance issues across 77 jurisdictions, accounting for 92% of the world’s total GDP and 95% of net global FDI flows. 292 indicators are tracked annually, offering data on […]
Ecuador Begins Crude Exports In Larger Vessels
(Reuters, 28.Jun.2021) — Ecuador for the first time on Monday exported a cargo of one of its flagship crudes, Oriente, aboard a very large crude carrier (VLCC), following an upgrade to a terminal that the South American country hopes will help it boost exports to Asia. The shipment of 1.08 […]
The Kjøli Copper Project Exploration Details
(Capella Minerals, 28.Jun.2021) — Capella Minerals Ltd. (TSXV: CMIL) (FRA: N7D2) provided the following update on ongoing exploration activities at its 100%-owned Kjøli high-grade copper project in central Norway. Field activities are currently focused on the definition of specific drill locations within the 14 CARDS AI targets identified along strike […]