(Energy Analytics Institute, 1.Jun.2021) â Select highlights from 1 June 2021 from the Suriname Energy, Oil and Gas Summit or SEOGS2021, and speakers from President Chandrikapersad Santokhi to Staatsolie CEO Annand Jagesar follow. Select highlights from the Suriname Energy, Oil and Gas Summit or SEOGS2021, which was held virtually from […]
Venezuela Adjusts As Sanctions Spur Western Oil Partners To Retreat
(Reuters, 1.Jun.2021) â Venezuelan state oil company PDVSA is turning to local partners as it seeks to plug the gap left by Western companies in the OPEC nation’s oil sector, according to interviews with a half dozen industry sources, as U.S. companies win a reprieve to maintain a limited presence […]
Panama Reveals Plans For $1bn Gas Plant
(Reuters, 1.Jun.2021) â Panama’s President Laurentino Cortizo announced on Tuesday the construction of a $1 billion plant for electricity generation using natural gas as the Central American country seeks to increase its share of cleaner energy. Called Gatun, the plant will be located at Isla Telfers near the port of […]
Venezuela Oil Exports Fell In May On Outages, Diluent Shortage
(Reuters, 1.Jun.2021) â Venezuela’s oil exports fell to 593,550 barrels per day (bpd) in May as a result of an outage in its main producing region and a lack of diluents to produce exportable grades, documents and tanker tracking data showed. The OPEC member’s oil shipments were stable at around […]
EOG Resources To Present At JP Morgan Conference
(EOG Resources, 1.Jun.2021) â EOG Resources, Inc. (EOG) is scheduled to present at the J.P. Morgan Energy, Power and Renewables Conference at 9:30 a.m. Central time (10:30 a.m. Eastern time) on Tuesday, 22 June 2021. EOG Resources President Ezra Y. Yacob will present on behalf of EOG. Please visit the […]
Final Investment Decision for Bacalhau Phase 1 in Brazil
(Equinor, 1.Jun.2021) â Equinor (operator) and ExxonMobil, Petrogal Brasil and PrĂ©-sal PetrĂłleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD. âThis is an exciting day. Bacalhau is the first greenfield development by an […]
LatAm Briefs: Ofac Venezuela, SEOGS2021 Kicks Off, Net Zero Summit
(Energy Analytics Institute, 1.Jun.2021) â Energy briefs from the Latin America and Caribbean region including: Ofac extending Chevronâs operating license in Venezuela; Microsoft founder, Bill Gates, participating in the Innovating To Net Zero Summit; and the kick off of the Suriname Energy, Oil and Gas Summit (SEOGS2021). Ofac Extends Chevronâs […]
GoldMining Initiates Preliminary Economic Assessment For The SĂŁo Jorge Project
(GoldMining, 1.Jun.2021) â GoldMining (TSX: GOLD) (NYSE American: GLDG) is initiating a preliminary economic assessment (PEA) on its 100% owned SĂŁo Jorge Gold Project in ParĂĄ State, Brazil and announces the results of an updated Mineral Resource Estimate (MRE). Highlights: Indicated Mineral Resources of 0.71 million ounces gold (14.27 million tonnes grading […]
Total Changes Name To TotalEnergies SE
(Total, 1.Jun.2021) â Totalâs Ordinary and Extraordinary Meeting of Shareholders decided on 28 May 2021 to change the companyâs name to TotalEnergies SE. The name and ticker symbol of TotalEnergies shares and American depositary receipts (ADR) will be adjusted as follows: Moreover, each market will release a notice specifying the […]
Suriname And The SEOGS2021 Set To Start
(Energy Advance, 1.Jun.2021) â Staatsolieâs inaugural address will Suriname Energy, Oil & Gas Summit, running from 1-3 June 2021. With H.E. Chandrikapersad Santokhi, President, Government of the Republic of Suriname giving a keynote address this morning the Suriname Energy, Oil & Gas Summit, 1-3 June 2021, hosted by Staatsolie Maatschappij […]
Suriname Local Content Workshops [Free Registration]
(Energy Analytics Institute, 31.May.2021) â Three local content workshops will be running during the last day of the Suriname Energy, Oil and Gas Summit (SEOGS) to be held virtually between 1-3 June 2021. The workshops will consist of panels of local, regional and global experts who will all discuss areas […]
Guyanese Citizens Challenge ExxonMobil Offshore Drilling On Climate Grounds
(The Guardian, 31.May.2021) â Guyanaâs government is being taken to court by two citizens seeking an end to offshore drilling by ExxonMobil and other large oil firms that will exacerbate the climate crisis. The case has been filed by Quadad de Freitas, a 21-year old Indigenous tourist guide from the […]
MPC Energy Provides 1Q:21 Update
(MPC Energy Solutions, 31.May.2021) â MPC Energy Solutions N.V., Amsterdam, gives an update on the Q1 2021 figures. The company only commenced its full operations in early 2021. The result and the balance sheet for the first quarter therefore do not yet allow any conclusions to be drawn about the […]
2021 P4G Seoul Summit To Fight Climate Change
(Ministry of Foreign Affairs, Republic of Korea, 30.May.2021) â As responding to climate change emerges as the biggest issue in the international community, the 2021 P4G Seoul Summit will be held at Dongdaemun Design Plaza (DDP) in Seoul from 30-31 May 2021. The P4G Seoul Summit is the third of […]
Colombian Army Dismantles 2 Clandestine Refineries in the Catatumbo Region
(General Command of the Colombian Military Forces, 25.May.2021) â In military operations area control, Troops of Task Force Vulcano of the Second Division of the National Army, dismantle, in the municipality of TibĂș, Norte de Santander, two illegal refineries, which stored the raw petroleum stolen from the Caño LimĂłn â […]
Trinidad And Tobago Energy Conference 2021 (Virtual)
(Energy Analytics Institute, 28.May.2021) â The Energy Chamber of Trinidad and Tobago will host its virtual energy conference between 7-9 June 2021. Details, including the agenda, follow. Host: Energy Chamber of Trinidad and Tobago Theme: Leading the Caribbeanâs Energy Transition Venue: Virtual Registration: Click here ____________________ By Steve Stewart. © […]
Entergy Finalizes Divestment Of Indian Point Energy Center To Holtec
(Entergy Corporation, 28.May.2021) â Entergy Corporation (NYSE: ETR) completed the sale of the subsidiaries that own Indian Point Energy Center to a Holtec International subsidiary, which plans to complete major decommissioning activities at the site decades sooner than if Entergy had continued to own the facility. The final operating unit […]
Brazil Faces Worst Dry Spell In 91 Years
(Reuters, 28.May.2021) â Brazilâs government agencies warned of droughts this week as the country faces its worst dry spell in 91 years, increasing fears of energy rationing, hitting hydroelectric power generation and agriculture while raising the risk of Amazon fires. Late on Thursday, the Electricity Sector Monitoring Committee (CMSE), which […]
Talos Energy Updates On ESG Initiatives Before Releasing ESG Report
(Talos Energy, 27.May.2021) â Talos Energy Inc. (NYSE: TALO) provided an update on its ongoing Environmental, Social and Governance (ESG) initiatives. The company further strengthened its ESG commitments with the establishment of long-term emissions reductions targets and further linked executive compensation to ESG performance. Additionally, the company provided select 2020 […]
Trinidad Briefs: Touchstone Share Options And Share Purchase [PDF Downloads]
(Energy Analytics Institute, 27.May.2021) â Energy briefs from the Latin America and Caribbean region including: Touchstone Exploration Inc.âs director share purchase and Touchstoneâs annual share options. Touchstone Director Share Purchase [PDF Download] Touchstone announces the following purchases of company common shares as of 27 May 2021 (see PDF download). Touchstone […]
Maersk Drilling Agrees To Divest MĂŠrsk Inspirer
(Maersk, 27.May.2021) â Maersk Drilling entered into an agreement to divest the combined drilling and production unit MĂŠrsk Inspirer to Havila Sirius for a price of $373mn. This transaction is in line with Maersk Drillingâs strategic objective of aligning its fleet to its core business, while also further strengthening Maersk […]
LatAm Briefs: Ecopetrol’s Barrancabermeja Refinery, Venezuela Oil Forecast
(Energy Analytics Institute, 26.May.2021) â Energy briefs from the Latin America and Caribbean region including: loads reported steady at Ecopetrolâs Barrancabermeja Refinery; and Venezuelaâs production of crude oil expected to rise slightly in 2021, according to estimates revealed by Ecoanalitica. Ecopetrolâs Reports Steady Loads At Barrancabermeja Refinery The loads at […]
Hess Corp. Talks Guyana At UBS Event [PDF Download]
(Energy Analytics Institute, 26.May.2021) â Hess Corporation presented at the UBS Global Energy Conference on 26 May 2021. What follows are key points and key slides from the discussion, including the corporation presentation (see PDF download), dominated by details on Guyana. Guyana Highlights: Preserve Long Term Value of Assets — […]
Hess eyes higher, new nameplate capacity at Liza Destiny FPSO
(Aaron Simonsky, Energy Analytics Institute, 26.May.2021, Words: 411) â The Liza Destiny floating production storage and offloading (FPSO) unit offshore Guyana in the Stabroek Block is expected to shutdown briefly in Nov. 2021 to install a new design flash gas compressor. Plans are to debottleneck or optimize the unit so […]
Ecopetrol Says Protests Impacting Its Operations
(Ecopetrol, 26.May.2021) â Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs about certain adverse consequences in the operation of its upstream, midstream, downstream and commercial and marketing segments, due to the ongoing public order situation in Colombia whereby social protests have resulted in blockades of the country’s main roads and isolated […]
NRGBriefs: Pemex Deer Park Refinery Deal, Lasso Sworn In
(Energy Analytics Institute, 25.May.2021) â Energy briefs from the Latin America and Caribbean region including: Pemexâs Deer Park refinery acquisition being labeled a mistake by George Baker and Ecuadorâs President Guillermo Lasso taking the helm in the South American oil producing country. LATIN AMERICA AND THE CARIBBEAN Pemex Deer Park […]
Touchstone Updates On Trinidad Operations
(Touchstone, 25.May.2021) â Touchstone Exploration Inc. (TSX, LSE: TXP) provides an operational update, highlighted by the recovery of pressure gauges from the Cascadura Deep-1 well on the company’s Ortoire onshore exploration block in Trinidad (Touchstone 80 percent working interest operator, Heritage Petroleum Company Limited 20 percent working interest). As previously […]
Roundtable: Celebrating African Innovation And Leadership
(US House of Representatives, 25.May.2021) â For Africa Day 2021, the House Foreign Affairs Committee will convene notable African leaders and entrepreneurs to discuss how we can better engage African partners to build stronger U.S.-Africa ties by promoting economic growth and increased access for American businesses to Africaâs vibrant and […]
Maduro Receives Harsh Economic Blow From An Unlikely Source: China
(Miami Herald, 25.May.2021) â A recently approved Chinese tax might translate into a severe economic blow to the NicolĂĄs Maduro regime by almost doubling the importing cost of the oil that Venezuela sells in violation of the U.S. sanctions, analysts said. The Chinese government is set to start collecting the […]
LNG-short Peru Rationing Gas Distribution
(Argus, 24.May.2021) â One of Peru’s top natural gas distributors is rationing supply and exploring options after the early May outage of the Peru LNG liquefaction complex on which it relies. Gases del Pacifico-Quavii, a subsidiary of Colombia’s Promigas, lost supply around 7 May when a compressor broke down at […]
Shell to Sell Interest in Deer Park Refinery to Partner Pemex
(Shell, 24.May.2021) â Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex). […]
Pemex To Acquire Shell’s Interest In Deer Park Refinery
(Shell, 24.May.2021) â Shell Oil Company, a subsidiary of Royal Dutch Shell plc, reached agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex). The transaction […]
EnVen Energy Acquires Neptune
(EnVen Energy, 24.May.2021) â EnVen Energy Corporation closed a transaction to acquire 35% ownership interest in the Neptune field from BHP Billiton Petroleum (Deepwater) Inc. through its affiliate, EnVen Energy Ventures, LLC. EnVen will increase its ownership interest in the Neptune field from 30% to 65% and assume the role […]
Synchrony And Citgo Ink Multi-Year Contract Extension
(Synchrony, 24.May.2021) â Synchrony (NYSE: SYF), a premier consumer financial services company, and Citgo Petroleum Corporation, a U.S.-based refiner, transporter, and marketer of transportation fuels, lubricants, and petrochemicals, today announced a multi-year extension of their strategic partnership highlighting Synchronyâs commitment to offer Citgo customers with enhanced purchasing options and more […]
Enbridge, Fluxys, EIG Bid For Brazil’s Top Import Pipeline: Sources
(Reuters, 21.May.2021) â A consortium of Canada’s Enbridge, Belgium’s Fluxys and U.S. private equity firm EIG Global Energy Partners has submitted a non-binding offer for Brazil’s largest natural gas import pipeline, three people with knowledge of the matter told Reuters this week. Petroleo Brasileiro SA, as Brazil’s state-run oil company […]
Orvana Completes Taguas Property Acquisition
(Orvana Minerals, 21.May.2021) â Orvana Minerals Corp. (TSX: ORV) completed the requisite steps to transfer ownership of the Taguas property to Orvana Argentina S.A., a wholly-owned subsidiary of the company. The Taguas acquisition is now complete. The Taguas property consists of 15 mining concessions over an area of 3,273.87 ha. […]
Citgo Reveals Its 1Q:21 Results
(Citgo, 21.May.2021) â CITGO Petroleum Corporation reported its first quarter 2021 performance results, including a net loss of $180mn, an EBITDA loss of $(21)mn and Adjusted EBITDA1Â of $10mn. The quarter marked the first positive quarterly Adjusted EBITDA for CITGO since the full onset of the coronavirus pandemic. The company’s overall […]
S&P Downgrades Ecopetrol Rating
(Ecopetrol, 21.May.2021) â Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, in line with the downgrade of the rating of the Republic of Colombia, the rating agency S&P Global Ratings downgraded the company’s credit rating from BBB- (negative outlook) to BB+ (stable outlook). S&P Global Ratings maintained Ecopetrol’s Stand-Alone rating […]
Energy Transition Represents $14tn Uncertainty For Upstream Sector
(WoodMac, 20.May.2021) â The energy transition represents US$14 trillion worth of uncertainty for upstream oil and gas, according to a new report by Wood Mackenzie. Oil and gas is a risky business. Over the years, those risks have been tempered by a single tenet â that demand would continue to […]
InvestChile’s E-Book On Green Energy Boom In Chile [PDF Download]
(InvestChile, 20.May.2021) â InvestChile, Chile’s foreign investment promotion agency, has just launched its new e-book on the energy market in this South American country, which contains all the information needed by foreign companies interested in investing in Chile’s energy industry. In recent years, the nation has experienced a green energy […]
Fact Box: Qatarâs North Field Expansion (NFE) Project
(US Department of Commerce, 20.May.2021) â Significant opportunities exist in Qatar for US companies offering products and services in LNG production. Qatar is the largest global exporter of liquefied natural gas (LNG), and the countryâs exports of LNG, crude oil, and petroleum products constitute the majority of government revenue. Despite […]
Wall Street Giants Bet On Colombia Sinking Deeper Into Junk
(Reuters, 20.May.2021) â Wall Street banks predicted on Thursday that Fitch would downgrade Colombia’s credit rating to junk before the year is out and spark forced selling after a similar move by S&P Global Ratings on Wednesday. Colombia has come into focus after President Ivan Duque was forced to withdraw […]
Colombia Production Falls Below 700,000 B/D On Protests, Road Blockages
(Energy Analytics Institute, 19.May.2021) â Ongoing protests and road blockades in Colombia have caused more than 560,000 barrels of oil to stop being produced in the first two weeks of May 2021, the worst decline in terms of hydrocarbon production since 2009, the countryâs Mines and Energy Minister Diego Mesa […]
LatAm Briefs: NGCs’ Methane Initiatives, Deloitte’s Decarbonization Challenge 2030
(Energy Analytics Institute, 19.May.2021) â Energy briefs from the Latin America and Caribbean region including: The National Gas Company of Trinidad and Tobago Limited (NGC)âs methane initiatives the Deloitteâs 2030 decarbonization challenge. [PDF Downloads] The National Gas Companyâs Methane Initiatives [PDF Download] NGC revealed details about its methane initiatives and […]
NGC Joins Global Methane Partnership
(NGC, 19.May.2021) â The National Gas Company of Trinidad and Tobago Limited (NGC) has strengthened its proactive and assertive campaign to reduce its carbon impact by joining the global Oil and Gas Methane Partnership (OGMP). The OGMP is a comprehensive, measurement-based methane reporting framework that standardizes rigorous and transparent emissions […]
Colombia Briefs: Oil Production Impacts, Duque On Protests
(Energy Analytics Institute, 18.May.2021) â Energy briefs from the Latin America and Caribbean region including: Colombiaâs President IvĂĄn Duque saying his government was pursuing national dialogue with the multiple groups involved in protests across the South American country, and ongoing protests in Colombia impacting on oil producers Gran Tierra and […]
IEA Reveals Net Zero By 2050 Roadmap Report [PDF Downloads]
(Energy Analytics Institute, 18.May.2021) â The Paris-based International Energy Agency (IEA) revealed its major report titled âNet Zero by 2050: A Roadmap for the Global Sector.â The report and associated power point presentations are available here. ____________________ By Chad Archey. © Energy Analytics Institute (EAI). All Rights Reserved.
JinkoSolar Reports Changes To Senior Management
(JinkoSolar, 18.May.2021) â JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced the change of its chief financial officer, in order to comply with certain business operation independence requirements of the Shanghai Stock Exchange’s Sci-Tech Innovation Board (the “STAR Market”) in relation to the proposed listing of its principal operating subsidiary, Jinko […]
US Oil Service Group Seeks $100mn From Mexico In Arbitration Claim
(Reuters, 18.May.2021) â A U.S. oil service group introduced a $100 million claim before a World Bank arbitration court alleging Mexico violated investor protections under the NAFTA trade pact by failing to honor agreements, lawyers for the firms and court documents showed. The World Bank’s International Centre for Settlement of […]
Gran Tierra Impacted By Protests And Blockades In Colombia
(Gran Tierra, 17.May.2021) â Gran Tierra Energy Inc. (NYSE American: GTE) (TSX: GTE) (LSE: GTE) announced an update on the impact of the ongoing national protests in Colombia on the companyâs operations. All production volumes are unaudited and on a working interest before royalties (âWIâ) basis and are expressed in […]