(Argus, 31.Dec.2020) — Bolivia’s new government is looking to cut diesel imports by encouraging exploration with a focus on liquids and transitioning its transportation sector to natural gas, the country’s main export. In his first interview with English-speaking media, hydrocarbons minister Franklin Molina shared his perspective with Argus. Spain’s Repsol […]
Venezuela Briefs: Halliburton Layoffs
(Energy Analytics Institute, 31.Dec.2020) — Briefs from Venezuela related to Halliburton layoffs and the year end message from Petróleos de Venezuela (PDVSA) President Asdrúbal Chávez. Halliburton Lays Off Workers Halliburton Venezuela has been forced to lay off an unknown number of employees related to business restrictions owing to a license […]
Petrobras Comments On Gaspetro’s Divestment
(Petrobras, 30.Dec.2020) — Petrobras, following up on the release disclosed on November 30, 2020, regarding the divestment of Petrobras Gás S.A. (Gaspetro), informs that it received on 22 December 2020 a letter from the Administrative Council for Economic Defense (CADE) in which the agency attests that the continuation of the […]
Petrobras Closes Equity Interest In Sete Brasil Group
(Petrobras, 30.Dec.2020) — Petrobras, following up on the release disclosed on 20 December 2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the […]
Heard Bolivia: Hydrocarbon Reserves, Ecological Fuels
(Energy Analytics Institute, 30.Dec.2020) — Heard on the street from Bolivia related to the Andean country’s plans to boost hydrocarbon reserves and development of projects related to producing ecological fuels. HEARD BOLIVIA — Bolivia’s Ministry of Hydrocarbons and Energy aims to increase activities as part of a plan to boost […]
University Of Los Llanos Inaugurate Meta Campus
(Ecopetrol, 30.Dec.2020) — Ecopetrol and the University of Los Llanos “Unillanos” gave the service the second phase of works of this educational institution at the boquemonte headquarters, in the municipality of Granada (Meta), which will benefit more than 2,000 students from this important region of Colombia. The investments were made […]
The Oil Industry Is Stuck in Virus Alley
(IHS Markit, 29.Dec.2020) — Prices won’t break out of the $40 to $50 range until consumption gets back to normal sometime next year. When will oil sustainably break out of the “Virus Alley”—that $40 to $50 band that has held oil prices in check for months? That’s Question No. 1 […]
![Citgo Releases First-Ever ESG Report [PDF DOWNLOAD]](https://energy-analytics-institute.org/wp-content/uploads/2020/12/qtq80-NEPfid.jpeg)
Citgo Releases First-Ever ESG Report [PDF DOWNLOAD]
(Citgo, 29.Dec.2020) — Marking a new chapter of heightened corporate transparency, responsibility and accountability, Citgo Petroleum Corporation today released its first-ever report detailing the company’s extensive environmental, social and governance (ESG) initiatives. Information contained in this release highlights the company’s progress in 2019 consistent with the accompanying report, as well […]
Carlos Vecchio Says Guaidó Govt Saved Citgo
(Energy Analytics Institute, 29.Dec.2020) — Houston-based refiner Citgo Petroleum, owned by Venezuela’s state oil and gas company Petróleos de Venezuela (PDVSA), continues to benefit from US legal actions to extend protection from creditors until July 2021, says Carlos Vecchio, the Venezuela’s ambassador to the US under the government of opposition […]
UAE Emerges As Hub For Cos. Helping Venezuela
(Reuters, 29.Dec.2020) — In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade. Within weeks, a little-known company based in the United Arab Emirates took over management of […]
Petrobras On Vitol Leniency Agreement
(Petrobras, 29.Dec.2020) — Petrobras informs that it received, as of today, the amount of R$232.6mn, as a result of a leniency agreement entered into between the Federal Prosecutor’s Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the […]
Petrobras On Transpetro Share Capital Reduction
(Petrobras, 29.Dec.2020) — Petrobras informs that, as sole shareholder, it approved today the reduction of share capital of its wholly-owned subsidiary Petrobras Transporte S.A. (Transpetro), in the amount of R$557,020,835.82 (around $107.2mn), in an Extraordinary General Meeting of Transpetro. The capital reduction was made at book value, with no change […]
Petrobras Starts Arbitration Against Odebrecht
(Petrobras, 28.Dec.2020) — Petrobras presented today a request for arbitration with an indemnity claim estimated at approximately R$800mn, against Odebrecht S.A., based on the shareholders’ agreement regarding Braskem, for violations of its terms. Braskem is not part of this arbitration, which is protected by confidentiality. __________
Guyana Gets Fourth Oil Lift
(Stabroek News, 28.Dec.2020) — At a price of close to US$49.50 per barrel of oil, Guyana has received its fourth one million barrels of oil scheduled for this year and will get its first lift for 2021 in February next year, Vice President Bharrat Jagdeo yesterday confirmed. It would mean […]
Perenco To Compensate Workers In Quarantine
(Trinidad and Tobago Newsday, 26.Dec.2020) — Perenco TT Ltd has assured that it has and will continues to fulfil its contractual obligations to its workforce, and that all personnel will be compensated for their quarantine periods. A press release from the company on Christmas Day stated, “Perenco remains fully committed […]
Bolivia Finds 1+ Tcf At Boicobo Sur X-1 Well
(Energy Analytics Institute, 24.Dec.2020) — Bolivia announced discovery of more than 1 trillion cubic feet (Tcf) of natural gas at the Boicobo Sur X-1 well located in the Huacaya region of Chuquisaca. Approximately $74mn was invested in the drilling of the well, Bolivia’s Ministry of Hydrocarbons and Energy announced 24 […]
![Colombian Officials On Ecopetrol And Shell Deal [VIDEO]](https://energy-analytics-institute.org/wp-content/uploads/2020/12/291338_1.jpg)
Colombian Officials On Ecopetrol And Shell Deal [VIDEO]
(Energy Analytics Institute, 24.Dec.2020) — Officials from Colombia’s National Hydrocarbon Agency (ANH) and Ministry of Mines commented on approval of assignment of a 50% interest held by state owned Ecopetrol to Shell as well as operation by Shell of three blocks off the Colombian Caribbean coast. RELATED STORY: The ANH […]
ANH Approves Deal Between Ecopetrol And Shell
(ANH, 24.Dec.2020) — The ANH approved the entry of Shell EP Offshore Ventures Limited, Colombian branch as operating partner of three Hydrocarbon Exploration and Production contracts in the deep waters of the Colombian Caribbean, through the assignment of 50% interest in each of those contracts, held solely by the Colombian […]
SBM Offshore Extends Lease For FPSO Espirito Santo
(SBM Offshore N.V., 23.Dec.2020) — SBM Offshore reports a contractual lease extension for FPSO Espirito Santo in Brazil and expects a potential increase in the lease duration for FPSOs in Guyana. SBM Offshore will present an updated pro-forma backlog, taking into account the most recent developments, along with its Full […]
Petrobras Inks Deal To Sell Onshore Fields In Bahia
(Petrobras, 23.Dec.2020) — Petrobras informs that it signed today with Petrorecôncavo S.A. a contract for the assignment of its entire stake in 12 onshore exploration and production fields, denominated Remanso Cluster, located in the state of Bahia. The sale value is $30mn, being (i) $4mn paid on the present date; […]
Entergy And Holtec Request Transfer Of Nuclear Plant
(Entergy, 23.Dec.2020) — Entergy Corporation and Holtec International, through their affiliates, jointly submitted a License Transfer Application today with the US Nuclear Regulatory Commission requesting approval to transfer the NRC licenses for the Palisades Nuclear Plant to Holtec following its shutdown and permanent defueling in the spring of 2022. “Holtec’s […]
Trinidad Co. Shuts Offshore Platforms Over Covid-19
(Trinidad Guardian, 23.Dec.2020) — Perenco Trinidad and Tobago Limited yesterday shut down COVID-hit offshore platforms in its Teak, Samaan and Poui fields and transported all workers to either state facilities or other locations for quarantine pending testing. This after Health Minister Terrence Deyalsingh reportedly intervened in the matter following continuing […]
Petrobras Concludes Redemption Of Global Notes
(Petrobras, 23.Dec.2020) — Petrobras, following up on the release disclosed on 18 December 2020, announced its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) concluded today the financial settlement of the early redemption of the 3.750% Global Notes, 5.375% Global Notes and 8.375% Global Notes, maturing in 2021, and of the […]
TransAlta Acquires 303 MW Portfolio TransAlta Corp.
(TransAlta, 23.Dec.2020) — TransAlta Renewables Inc. entered into definitive agreements for the acquisition of three assets from TransAlta Corporation (“TransAlta”) consisting of: — a 100% direct interest in the 207 MW Windrise wind project located in the Municipal District of Willow Creek, Alberta; — a 49% economic interest in the […]
Venezuela’s Oil Unions Accuse Govt Of Persecution
(AFP, 23.Dec.2020) — Venezuela’s vital oil industry is failing and the socialist government is feeling the pressure, and now the regime of President Nicolas Maduro is being accused of lashing out at the sector’s unions. In recent months, several union leaders have been arrested, accused of terrorism, sharing confidential information […]
Petrobras Starts Bahia Terra Cluster Non-binding Phase
(Petrobras, 23.Dec.2020) — Petrobras, following up on the release disclosed on 4 November 2020, informs the beginning of the non-binding phase, referring to the sale of all of its stakes in a set of 28 onshore production field concessions, with integrated facilities, located in the Recôncavo and Tucano Basins, in […]
Petrobras On New Contracts With Braskem
(Petrobras, 22.Dec.2020) — Petrobras informs that it has signed new long-term contracts with Braskem S.A. to supply petrochemical naphtha to the industrial unit in the state of São Paulo and to supply ethane and propane to the industrial unit in the state of Rio de Janeiro. The naphtha contract, in […]
Petrobras Confirms Oil At Buzios Well
(Petrobras, 22.Dec.2020) — Petrobras confirmed oil of excellent quality with the drilling of well 9-BUZ-48D-RJS, located in the extreme northwest of Búzios field in the Santos Basin. The well is located 188 km from the city of Rio de Janeiro and was drilled at a water depth of 1,850 meters. […]
Petrobras Inks New Supply Deal With Braskem
(Petrobras, 22.Dec.2020) — Petrobras signed new long-term contracts with Braskem S.A. to supply petrochemical naphtha to the industrial unit in the state of São Paulo and to supply ethane and propane to the industrial unit in the state of Rio de Janeiro. The naphtha contract, in the estimated amount of […]
AMLO’s Nationalism Casts Energy Projects Into Limbo
(Bloomberg, 22.Dec.2020) — Mexican President Andres Manuel Lopez Obrador’s hardball tactics against foreign energy companies are halting projects and reversing a process that until recently made the country one of the world’s hottest oil and renewable markets. About 200 wind farms, natural gas plants, solar arrays and other projects have […]
Venezuela Resumes Direct Oil Shipments To China
(Reuters, 22.Dec.2020) — Venezuela has resumed direct shipments of oil to China after U.S. sanctions sent the trade underground for more than a year, according to Refinitiv Eikon vessel-tracking data and internal documents from state company Petroleos de Venezuela (PDVSA). Chinese state companies China National Petroleum Corp (CNPC) and its […]
Guyana Plans To Export 5-6 Crude Cargoes In 2021
(Argus, 22.Dec.2020) — Guyana plans to export “five to six” 1mn bl cargoes of its crude entitlement from the deepwater Stabroek block in 2021 to offset lower-than-expected shipments in 2020, natural resources minister Vickram Bharrat told Argus today. The government had projected five lifts in 2020 but managed only three […]
Pemex, Talos To Keep Talking Over Shared Oil Find
(Reuters, 22.Dec.2020) — Mexico’s energy ministry has approved a 60-day extension for talks between state oil company Pemex and a private consortium led by U.S.-based Talos Energy Inc over the future of a massive shared crude deposit, Talos chief executive Tim Duncan told Reuters on Tuesday. The energy ministry’s previous […]
BPC plc Spuds Perseverance #1 Well Off The Bahamas
(Energy Analytics Institute, 21.Dec.2020) — Bahamas Petroleum Company plc (BPC) announced commencement of the drilling operations at the Perseverance #1 well offshore The Bahamas. Highlights: — Drilling of the Perseverance #1 well has commenced. — The well spud on 20 December 2020, at 06.30 EST. The well is anticipated to take […]
Gunvor Closes Innovative New Natural Gas Facility
(Gunvor, 21.Dec.2020) — Gunvor Group successfully closed a new €300mn financing facility, which consists of a syndicated, pan-European natural gas repo facility to cover multiple jurisdictions in Europe with a shared security package. It will be used to support Gunvor’s growing natural gas activity across Europe, where the company is […]
ExxonMobil Hits Guyana Oil Output Goal
(Argus, 21.Dec.2020) — ExxonMobil reached targeted crude production of 120,000 b/d at the Liza 1 well on Guyana’s deepwater Stabroek block, a milestone that had been delayed by an earlier re-injection glitch and equipment delays. The target was achieved a year after start-up of the Liza Destiny floating production, storage […]
PetroRio Reveals Long-Term Financing With Prisma
(PetroRio, 21.Dec.2020) — PetroRio S.A., in accordance with best corporate governance practices and transparency, and in order to maintain informational equity in view of the possible share offering disclosed in the Material Fact of 15 December 2020, informs its shareholders and the market in general about recent events of the […]
PetroRio Buys Ventura’s Atlantic Zephyr Rig For $1
(PetroRio, 21.Dec.2020) — PetroRio signed an agreement with Ventura for the acquisition, for $1 (one US Dollar), of the Atlantic Zephyr rig, a semi-submersible anchored rig suitable for interventions and completions in wells with water depths up to 300m. This acquisition’s purpose is to reduce operational costs and increase the […]
Petrobras Receives “Dragon” Supercomputer
(Petrobras, 21.Dec.2020) — Petrobras started to receive the equipment that compose the supercomputer called “Dragon”, a high performance computer aiming at a greater geophysical processing performance, reducing geological and operational risks. Petrobras has increased investment in high-performance computers and, in less than two years, it has put into production nine […]
Citgo Plans Q4 2021 Overhaul At Corpus Christi Refinery
(Reuters, 21.Dec.2020) — Citgo Petroleum Corp plans an overhaul at its 167,500 barrel-per-day (bpd) Corpus Christi, Texas, refinery in the fourth quarter of 2021, the company said on Monday. The fourth-quarter 2021 turnaround could be rescheduled, Citgo said. Sources told Reuters on Friday that Citgo was postponing planned maintenance scheduled […]
Mexican Watchdog Warns Against Fuel Import Changes
(Argus, 21.Dec.2020) — Proposed changes to rules governing importing and exporting hydrocarbons, refined products and petrochemicals in Mexico would “seriously affect competitive conditions in the commercialization of fuels,” competition watchdog Cofece said. Cofece called on the economic development ministry (SE) to not issue a proposal that would give the government […]
Suriname: The Next Oil Superpower or Failed State?
(National Interest, 21.Dec.2020) — Although 2020 will go down as one of the worst years for most countries, it was a pivotal time for Suriname. The small, Dutch-speaking South American country had a critical election; its economy was upended by poor economic management by the outgoing government; the coronavirus pandemic […]
Hortensia Jiménez To Head Bolivia’s ABEN
(Energy Analytics Institute, 21.Dec.2020) — Bolivia’s Hydrocarbons and Energy Minister Franklin Molina Ortiz named Hortensia Jiménez Rivera as Executive General Director of Bolivia’s Nuclear Energy Agency or ABEN. Jiménez is a chemical engineer with professional experience working for public, private and international organizations in Bolivia and across Latin America. __________ […]
Bolivia Gets 454 Domestic Gas Installations In Mizque
(Energy Analytics Institute, 20.Dec.2020) — Bolivia’s Hydrocarbons and Energy Ministry with assistance from state oil and gas company Yacimientos Petrolifos Fiscales Bolivianos (YPFB) completed the installation and connection of 454 residences to the country’s gas network in the municipality of Mizque in the department of Cochabamba. “We want gas to […]
Gov’t Worked With Exxon For Maximum Production
(DPI, 20.Dec.2020) — The government of Guyana says it welcomes the announcement by US oil and gas company ExxonMobil that it has reached maximum production of 120,000 barrels of oil per day (b/d) – a success to which it has contributed. Minister of Natural Resources Hon. Vickram Bharrat said the […]
Maxeon Solar Wins Patent Validity Ruling In China
(Maxeon Solar, 20.Dec.2020) — Maxeon Solar Technologies, Ltd., a global solar innovation leader, received a positive patent validity ruling in a patent invalidation action filed in China by the Chinese solar manufacturer LONGi Green Energy Technology Co., Ltd. The action was filed against one of Maxeon’s patents for the proprietary […]
Chile Names Jobet New Bi-Minister Of Energy
(Energy Analytics Institute, 19.Dec.2020) — Chile’s President Sebastian Piñera Echenique named Juan Carlos Jobet as the bi-minister of the South American country’s energy ministry. Jobet reconfirmed the details in a social media post. __________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.
YPFB Confirms Find At Yarará -X1 Exploratory Well
(Energy Analytics Institute, 19.Dec.2020) — Drilling of the Yarará X-1 (YRA-X1) exploratory well, which commenced on 14 September 2020, reached a final depth of 2,850m and encountered the presence of hydrocarbons. “The immediate plan is to develop wells in the area,” Bolivia’s Ministry of Hydrocarbons and Energy announced 19 December […]
ANP Board Agrees To Maintain Covid-19 Protocols
(Energy Analytics Institute, 18.Dec.2020) — The ANP Board approved on 17 December 2020 a resolution to maintain temporary safety measures and protocols to deal with the emergency that has arisen from the Covid-19 pandemic, the agency said in an official statement. The new regulation will establish deadlines and procedures to […]
NGC, Touchstone In Gas Supply Partnership
(NGC, 18.Dec.2020) — The National Gas Company of Trinidad and Tobago Limited (NGC) signed a natural gas supply agreement with Primera Oil and Gas Limited, a subsidiary of Canadian energy exploration company Touchstone Exploration on 18 December 2020. Primera, acting on behalf of its joint venture partner Heritage Petroleum Company […]