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Petrobras On Arbitration Decision

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(Petrobras, 25.Mar.2021) — Petrobras, following up on the releases disclosed to the market on 22 June 2020 and 11 November 2020, announces that it received, on this date, a decision from the Market Arbitration Chamber of B3 (MAC), which granted its challenge and dissolved the Arbitration Tribunal that rendered a […]

Favorable Conciliation Deal Between Frontera, CENIT And Bicentenario

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(Frontera Energy, 24.Mar.2021) — Frontera Energy Corporation, Cenit Transporte y LogĂ­stica de Hidrocarburos S.A.S. and Oleoducto Bicentenario de Colombia S.A.S. separately announced today that the Office of the Attorney General of Colombia (ProcuradurĂ­a General de la NaciĂłn) has delivered its opinion on the Conciliation Agreement between Frontera, CENIT and Bicentenario. […]

U.S. Thirst For Russian Oil Hits Record High

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(Bloomberg, 24.Mar.2021) — The oil tankers docking at the refinery in Baytown, Texas, look exactly like many others plying the waters of the Houston Ship Channel. But stashed inside their capacious holds is an unusual cargo: Russian petroleum. The sprawling complex, which belongs to Exxon Mobil Corp., isn’t the only U.S. […]

Key Petrobras Executives Set To Depart

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(Petrobras, 24.Mar.2021) — Petrobras informs that Andrea Almeida, Chief Financial and Investor Relations Officer, Carlos Alberto Pereira de Oliveira, Chief Exploration and Production Officer, AndrĂ© Chiarini, Chief Trading and Logistics Officer, and Rudimar Chief Production Development Officer, informed today to the Board of Directors that they do not intend to […]

WoodMac On Suez Canal Congestion

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(WoodMac, 24.Mar.2021) — According to Wood Mackenzie’s VesselTracker – as of 24 March, one LNG vessel is “trapped” within the canal. The Golar Tundra loaded at Egypt’s Idku on 21 March and was transiting to Asia. At the Southern entrance, the Rasheeda is awaiting to transit with a shipment from […]

Petrobras Inks Deal To Divest RLAM

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(Petrobras, 24.Mar.2021) — Petrobras, following up on the release disclosed today, informs that it has signed a contract with MC Brazil Downstream ParticipaçÔes, a company of the Mubadala Capital group, for the sale of the company’s shares that will hold the Landulpho Alves Refinery (RLAM) and its associated logistics assets, […]

Petrobras On Samsung Leniency Deal

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(Petrobras, 24.Mar.2021) — Petrobras, following up on the release disclosed on 03/01/2021, informs that it received last week the second, and last, installment, in the amount of $59.4mn, of the leniency agreement entered into by Samsung Heavy Industries. With these values, Petrobras surpasses R$ 5.7bn in funds recovered through collaboration, […]

Suez Canal Blockage Causes Vessel Build-up

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(WoodMac, 24.Mar.2021) — The Suez Canal blockage has caused the build-up of vessels looking to transit the canal at both the northern and southern anchorages.   Wood Mackenzie principal analyst Mark Williams said: “According to Wood Mackenzie VesselTracker, the largest impact is on container shipping, but we estimate that there are […]

HPCL-Mittal Awaits Guyanese Crude Liza

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(Reuters, 23.Mar.2021) — The first cargo from new oil producer Guyana to the world’s third-largest crude importer, India, departed this month from a production facility off the South American nation’s coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday. The cargo was bought […]

PetroPerĂș Guarantees Gas Supply

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(PetroPerĂș, 23.Mar.2021) — Maintenance of the Pampa Melchorita plant will not affect natural gas users in the cities of Arequipa, Moquegua, Ilo and Tacna. Thinking about the well-being of its clients in the south of the country, PetroPerĂș has been taking action in order to guarantee the supply of natural […]

NIPSCO, EDP Renewables Eye Wind Farm And Solar Park

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(EDP Renewables, 23.Mar.2021) — EDP Renewables SA (EDPR), through its fully owned subsidiary EDP Renewables North America LLC (EDPR NA), and Northern Indiana Public Service Company, LLC (NIPSCO), a subsidiary of NiSource Inc. (NYSE: NI), have executed a long-term Power Purchase Agreement (PPA) and a Build & Transfer Agreement (BTA) […]

SoCalGas Sets Net Zero Emissions Pledge

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(Southern California Gas Co., 23.Mar.2021) — Southern California Gas Co. (SoCalGas), the largest gas utility in the US, today announced the company’s bold commitment to achieve net zero greenhouse gas (GHG) emissions in its operations and delivery of energy by 2045. This commitment makes SoCalGas the largest gas distribution utility in […]

Bristow Achieves Int’l Safety Standard

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(Bristow, 22.Mar.2021) — Bristow Group Inc. is the first helicopter operator in the UK to achieve a new mandatory international aviation safety standard designed to ensure the airworthiness of its aircraft, underscoring the Company’s commitment to safety and industry leadership. Bristow was notified it officially achieved the certification – Continued […]

PNM Declares Preferred Dividend

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(PNM Resources, 22.Mar.2021) — The Board of Directors of PNM, a subsidiary of PNM Resources, declared the regular quarterly dividend of $1.145 per share on the 4.58% series of cumulative preferred stock. The preferred stock dividend is payable 15 April 2021 to shareholders of record at the close of business […]

Uranium Energy Corp Completes Financing

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(Uranium Energy, 22.Mar.2021) — Uranium Energy Corp announced closing of its previously announced offering of an aggregate of 10,000,000 shares of common stock of the company at a purchase price of $3.05 per share and for gross proceeds of $30,500,000 in a registered direct offering. The company offered and sold […]

Gas Center Stage In Peru’s Presidential Race

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(Argus, 22.Mar.2021) — Natural gas is a central theme among Peru’s top presidential candidates looking to distinguish themselves ahead of 11 April general elections. None of 18 candidates — spanning the full political spectrum — has garnered more than 20pc in the polls, and none is likely to break past […]

Mexico Seeks Better Terms From Vitol

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(Reuters, 22.Mar.2021) — Mexico is looking to renegotiate some of its hundreds of millions of dollars-worth of contracts with Vitol SA after the global energy trader acknowledged paying kickbacks to win business with state oil company Pemex, Reuters has learned. The dispute in Mexico, the world’s fourth-largest importer of refined […]

Guyana Basins Summit (GBS) Energy Highlights

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(Energy Analytics Institute, 22.Mar.2021) — Commentaries, quotes, data and other highlights from the Guyana Basins Summit (GBS) held virtually from 17-19 March 2021 and from speakers from Guyana’s President Mohamed Irfaan Ali to Guyana’s Natural Resources Minister Vickram Bharrat and others speaking about lessons learnt in other countries such as […]

Buenos Aires On Debt Restructuring

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(The Province of Buenos Aires, 21.Mar.2021) — Since the announcement of its invitation to holders of certain eligible bonds as set forth in the invitation memorandum dated 24 April 2020 (as amended and supplemented from time to time, the “Invitation Memorandum”) to submit orders to exchange their eligible bonds for […]

Guyanese Communities To Benefit From Solar Streetlights

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(DPI, 21.Mar.2021) — Minister of Local Government and Regional Development, Hon. Nigel Dharamlall has said more communities across Guyana will soon benefit from the installation of solar streetlights. This initiative will be undertaken through the Ministry’s Community Infrastructure Improvement Project (CIIP). Speaking with DPI, Minister Dharamlall said the Ministry is […]

Ecuador Eyes National Energy Plan 2050

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(Energy Analytics Institute, 19.Mar.2021) — Ecuador’s hydrocarbon sector head RenĂ© Ortiz announced the country would start the development process for a mid-century Ecuadorian National Energy Plan (PEN by its Spanish acronym). “This tool will guide long-term actions on issues of energy efficiency, generation, expansion, transmission, distribution and commercialization of electricity; […]

Ecopetrol On Board Member Nominee

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(Ecopetrol, 19.Mar.2021) — Ecopetrol S.A. announced in accordance with the agreement of the Nation’s Declaration as the majority shareholder, and in compliance with standing procedures, the representatives of the hydrocarbon producing departments have signed an agreement in order to unanimously nominate Mr. Hernando Ramirez as their candidate for the Board […]

India Eyes Renewable Energy Sources

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(Energy Analytics Institute, 19.Mar.2021) — India’s government has big ambitions for renewable energies, as 55% of its electricity is generated by burning fossil fuels. The Asian country aims to generate 450 gigawatts (GW) from renewable energy sources by 2030. The country’s solar sector is booming and expected to account for […]

Bolivia Eyes GDP Growth Of 4.4% In 2021

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(Energy Analytics Institute, 18.Mar.2021) — Bolivia’s government adjusted its 2021 Financial Fiscal Program and foresees Gross Domestic Product (GDP) growth of 4.4% and controlled inflation of 2.6% this year. Bolivia’s President Luis Arce anticipates “gradual economy repercussions,” but called for a “sacrifice” from all sectors. Additionally, this year, Bolivia expects […]

LatAm Briefs: Pemex Costs, Ecuador Output

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(Energy Analytics Institute, 18.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Banco do Brasil CEO resigning under pressures from Brazil’s President Jair Bolsonaro, Ecuador’s oil production reaching 506,519 barrels per day (b/d), and Pemex reducing production cost. Banco do Brasil CEO Resigns Under Bolsonaro Pressures Petrobras […]

NIPSCO, Invenergy Ink Solar Transfer Deal

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(NiSource, 18.Mar.2021) — Northern Indiana Public Service Company, LLC (NIPSCO), a subsidiary of NiSource Inc., and Invenergy, a leading developer and operator of sustainable energy solutions, today announced that they have signed a build transfer agreement to bring 250 megawatts (MW) of solar energy to Indiana with the Fairbanks Solar […]

Guyana Basins Summit Day 2 Recap

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(Energy Advance, 18.Mar.2021) — The Guyana Basins Summit (GBS) was officially inaugurated by Hon. Albert R. Ramdin, Minister of Foreign Affairs, International Business and Cooperation, government of the Republic of Suriname who discussed the need for a new paradigm on regional co-operation, a future to be built post oil and […]

Hess Divest Interests In Denmark

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(Hess, 18.Mar.2021) — Hess entered into an agreement to sell its subsidiary Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field, to Ineos E&P AS for a total consideration of $150mn, effective 1 January 2021. “The sale of our Denmark asset enables us to further focus […]

Petrobras On BODs Nominees

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(Petrobras, 18.Mar.2021) — Petrobras, pursuant to CIRCULAR LETTER/CVM/SEP/No.01/2021, reports that it has received the nomination of candidate Pedro Rodrigues GalvĂŁo de Medeiros for the Board of Directors, in case multiple voting process is adopted. Board of Directors election will take place at the Extraordinary General Meeting of 12 April 2021. […]

GoldMining Issues Letter To Shareholders

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(GoldMining, 18.Mar.2021) — GoldMining Inc. issued the following letter from its Chairman, Amir Adnani, updating shareholders on the recent successful launch of Gold Royalty Corp. (GRC) (NYSE American: GROY) and plans for project advancement: Dear Fellow Shareholders, Since going public a decade ago, we entered the first phase of GoldMining’s […]

Petrobras On Fiscal Council Nomination

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(Petrobras, 18.Mar.2021) — Petrobras, pursuant to CIRCULAR LETTER/CVM/SEP/No.01/2021, reports it has received from holders of common shares the nomination of candidates for the Fiscal Council, whose election will take place at the Annual General Meeting of 14 April 2021. Candidates nominated by shareholders FIA DinĂąmica Energia and Banclass FIA: Candidate’s […]

Petrobras On Questionings Energy Ministry

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(Petrobras, 18.Mar.2021) — Petrobras clarifies that it inquired its controlling shareholder, through the Ministry of Mines and Energy (MME), to which the company is linked under Law 9. 478/1997, about the existence of information that should be disclosed to the market, under the terms of CVM Instruction 358/2002, in view […]

Petrobras On BM-C-33 Developments

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(Petrobras, 18.Mar.2021) — Petrobras has approved, together with its partners Equinor and Repsol Sinopec Brasil, the development concept for block BM-C33, operated by Equinor, located in the pre-salt layer of the Campos Basin, in the state of Rio de Janeiro.   The block is about 200 km offshore and has water […]

Mexico To Absorb Pemex Amortization

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(Reuters, 18.Mar.2021) — Mexico’s government will absorb the debt amortization payments as of this year of state oil firm Pemex, the world’s most indebted national oil company, CEO Octavio Romero said on Thursday. Those payments will represent over $6 billion in 2021, Romero said at an event in the southern […]

Ecuador Dedicates $300mn To Coastal Electrification Plan

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(Energy Analytics Institute, 18.Mar.2021) — Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MENNR) as well as the country’s Ministry of Production, Foreign Trade, Investments and Fisheries, together with the National Electricity Corporation (CNEL) signed an inter-institutional agreement to allow for investment of approximately $300mn on works to improve the […]

Mexico Taunts Dzimpona-1 Oil Find

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(Energy Analytics Institute, 18.Mar.2021) — Mexican officials announced discovery of a new giant oil field called Dzimpona-1 in the state of Tabasco. Reserves at the field are estimated between 500 and 600 million barrels of crude oil equivalent (MMboe) The Dzimpona-1 is located near Valeriana and Racemosa, which together hold […]