(Petrobras, 4.Nov.2020) — Petrobras has readjusted, on 1 November 2020, the sales prices of natural gas for distributors for the contracts started in January. The adjustments occurred according to parameters negotiated in contractual formulas, due to variations in Brent oil prices and the Real/Dollar exchange rate in the last quarter. […]
Petrobras Reveals Teaser For Bahia E&P Assets
(Petrobras, 4.Nov.2020) — Petrobras informs that it has started the opportunity disclosure stage (teaser), referring to the sale of all of its stakes in a set of twenty-eight onshore production field concessions, with integrated facilities, located in the Recôncavo and Tucano Basins, in different municipalities of the state of Bahia, […]
Africa Oil Inks Deal For New Block In South Africa
(Africa Oil Corp., 4.Nov.2020) — Africa Oil Corp. (AOI) announced that Impact Oil & Gas Limited has entered into two agreements for exploration areas offshore South Africa. The company has a 31.10% shareholding in Impact, a privately owned exploration company with a strategic focus on large scale, mid to deep […]
Talos Energy Provides Operational Results
(Talos, 4.Nov.2020) — Talos Energy Inc. announced its financial and operational results for the third quarter of 2020. Key Highlights: — Production of 48.6 thousand barrels of oil equivalent per day (MBoe/d), of which 67% was oil and 74% was liquids. Production for the quarter was significantly impacted by deferrals […]
Heard: Petronas Spuds Well Offshore Suriname
(Energy Analytics Institute, 4.Nov.2020) — Malaysia-based Petronas and US-based ExxonMobil have commenced drilling of an exploratory well offshore Suriname in Block 52, according to sources close to Energy Analytics Institute (EAI). Prior to the start of summer, Petronas’ Vice President of Exploration Emeliana Rice-Oxley said the company would drill a […]
Petrobras Creates Climate Change Exec Management
(Petrobras, 3.Nov.2020) — Petrobras, reinforcing the growing importance of the transition to low carbon in the company, informs the creation of the Climate Change Executive Management, which will be responsible for leading actions related to carbon management, reduction of air emissions, energy efficiency and climate change. The new structure will […]
Touchstone Raises $30mn In Private Placement
(Touchstone, 2.Nov.2020) — Touchstone Exploration Inc. placed 24,291,866 new common shares of no par value (the “Placing Shares”) with institutional and other investors in the United Kingdom and Canada at a price of 95 pence per Placing Share (approximately C$1.64) (the “Placing Price”), raising gross proceeds of approximately $30mn (approximately […]
CEOs At PetroEcuador And PetroAmazonas Resign
(Energy Analytics Institute, 3.Nov.2020) — The CEOs of Ecuador state oil entities EP PetroEcuador, Ricardo Merino, and PetroAmazonas EP, Juan Carlos Bermeo, resigned within a 24-hour period over the weekend, reported online newspaper El Universo. Issues weighing in on both departures include fees related to Ecuador’s Oleoducto de Crudos Pesados […]
YPF Fuels Wins Top TierTM Certification
(Energy Analytics Institute, 3.Nov.2020) — Fuels produced by Argentina’s YPF again won the Top TierTM international certification, which is promoted by the ten most important automotive companies in the North American market. YPF was the first company in the region and the only one in Argentina to be part of […]
Petrobras Reinforces Climate Change Initiatives
(Petrobras, 3.Nov.2020) — Petrobras, reinforcing the growing importance of the transition to low carbon in the company, informs the creation of the Climate Change Executive Management, which will be responsible for leading actions related to carbon management, reduction of air emissions, energy efficiency and climate change. The new structure will […]
Venezuela Briefs: Black Mkt Gasoline; Diesel Demand
Energy briefs from Venezuela on prices for black market gasoline reaching $11.36/gal and refineries owned by PDVSA only producing enough diesel to cover 25% of domestic demand.
Does Venezuela Need A New Hydrocarbon Law? Webinar
(Energy Analytics Institute, 3.Nov.2020) — Does Venezuela need a new organic hydrocarbons law? That’s the question to be addressed on 5 November 2020 by four Venezuelan oil sector officials in a Zoom webinar. The panel will include Luis Pacheco, Francisco Monaldi, Luis Stefanelli and Elias Matta. __________ By Piero Stewart. […]
Case Against Venezuela’s Oil Minister Hits Another Snag
(AP, 3.Nov.2020) — The prosecution of Venezuela’s Oil Minister Tareck El Aissami for violating U.S. sanctions has run into another snag after a federal judge allowed one of his co-defendants to withdraw a guilty plea over allegations that U.S. attorneys withheld evidence in the case. Federal prosecutors in Manhattan on […]
Touchstone Proposes Up To $30mn Private Placement
(Touchstone, 2.Nov.2020) — Touchstone Exploration Inc. proposed placing in the UK and Canada of up to $30mn (approximately £23.2mn and C$40mn) through the issue of common shares of no par value (the”Placing Shares”) with institutional and other investors in the United Kingdom and Canada. In the event of excess demand, […]
Executives At Ecuador’s State Oil Entities Resign
(Reuters, 2.Nov.2020) — The chief executives of Ecuador’s two state-owned oil companies resigned over the weekend ahead of a planned merger of the two firms, the country’s energy ministry said in a statement on Monday. The government has said the merger of Petroecuador, which controls the country’s oil refineries, and […]
Venezuela Oil Exports Fall to New Lows
(Reuters, 2.Nov.2020) — Venezuela’s oil exports fell to a historic low of 359,000 barrels per day (bpd) in October as most of state-run PDVSA’s long-term clients paused trade to meet a U.S. deadline to halt business with the firm, according to data seen by Reuters on Monday. The United States […]
YPFB To Boost Fuel Supplies For “Todos Santos” Weekend
(Energy Analytics Institute, 31.Oct.2020) — Yacimientos Petrolíferos Fiscales Bolivianos (YFB) announced plans to boost fuel volumes to supply the general population over the weekend and through the “Todos Santos” holiday, according to an internal report from the Department of Corporate Commercialization at the state entity. The increased volumes are needed […]
Dubai Investment Team Visits With Guyana
(Guyana Natural Resources Ministry, 31.Oct.2020) — A high-level team from the Private Office of His Highness Sheikh Ahmed Dalmook Al Maktoum, member of the ruling family of Dubai paid a courtesy call on Natural Resources Minister, Hon. Vickram Bharrat to seek and discuss investment opportunities, and strengthen collaboration with Guyana. […]
ExxonMobil To Reduce US Staff Levels
(Exxon, 30.Oct.2020) — As part of an extensive global review announced earlier this year, the company plans to reduce staffing levels in the United States, primarily at its management offices in Houston, Texas. The company anticipates approximately 1,900 employees will be affected through voluntary and involuntary programs. The workforce reductions […]
Latin America Peers Warily Into US Election Mirror
(Argus, 30.Oct.2020) — The region’s recovery from Covid-19 will depend heavily on who is dictating US policy, writes Patricia Garip. Waves of political chaos that recurrently engulf Latin America were not supposed to wash up on stable US shores. Yet days before the 3 November election, the US is convulsed […]
Petrobras Initiates Araucária Binding Phase
(Petrobras, 30.Oct.2020) — Petrobras, following up onthe press release disclosed on 17 September 2020,informs the beginning of the binding phase regarding the sale of all its shares in the wholly-owned subsidiary Araucária Nitrogenados SA (ANSA). Potential buyers qualified for this phase will receive instructions on the divestment process, including guidelines […]
Total’s 3Q:20 Results Call Transcript
(Seeking Alpha, 30.Oct.2020) — Details of Total’s third quarter earnings conference call on 30 October 2020 can be found here. Company Participants Jean-Pierre Sbraire – Chief Financial Officer Conference Call Participants Oswald Clint – Sanford C. Bernstein & Co. Lydia Rainforth – Barclays Bank Biraj Borkhataria – RBC Capital Markets […]
Simón Bolívar Foundation Rejects Maduro Allegations
(Citgo, 30.Oct.2020) — Given the recent accusations made by representatives of the Nicolás Maduro regime, the Simón Bolívar Foundation, the private non-profit foundation of Citgo Petroleum Corporation, categorically rejects the allegations regarding the Foundation’s activities and its President Ms. Mariela Poleo, for being completely false and unfounded. The Simón Bolívar […]
UPME On Pacific Facility Investor Selection
(Energy Analytics Institute, 30.Oct.2020) — Colombia’s Mining and Energy Planning Unit (UPME) officially started the investor selection process for the Pacific Gas Import Infrastructure project, which will encompass LNG storage, regasification, natural gas transportation as well as associated services . Highlights: — The deal will be awarded before the end […]
Maduro Condemns Amuay Attack, Blames Duque
(Energy Analytics Institute, 29.Oct.2020) — Venezuela’s leader Nicolás Maduro Moros says the Amuay refinery in Punto Fijo in Falcón state was attacked by terrorist groups with backing from Colombia. “What has happened is something very serious, it’s an act by terrorist groups that Iván Duque is preparing from Colombia to […]
Ecuador Spot Oil Sales Between 2017-2020
(Energy Analytics Institute, 29.Oct.2020) — EP PetroEcuador conducted 14 crude oil spot sales between 2017 and 2020, daily newspaper El Universo reported 29 October 2020. Details from Ecuador’s Energy Ministry reveal that between 2017 and 2019 approximately 25.8 million barrels were sold for a sum of $1.6bn. In accordance with […]
Ecuador Eyes Suspending Spot Oil Sales In 2021-22
(Energy Analytics Institute, 29.Oct.2020) — Ecuador eyes suspending spot sales of crude oil during 2021 and 2022 with the aim of resuming them in 2023, daily newspaper El Universo reported on 29 October 2020, citing comments from the country’s Deputy Hydrocarbons Minister María Eliza Soledispa. The announcement comes as the […]
Hess CEO Eyes 10 FPSOs In The Stabroek Block
(Energy Analytics Institute, 29.Oct.2020) — Hess Corporation CEO John Hess announced estimated resources offshore Guyana in the Stabroek Block were approximately 9 billion barrels of oil equivalent, and potentially requiring 10 floating production storage and offloading (FPSO) units to develop them. “Incorporating the current assessment of additional volumes from the […]
Hess Corp. 3Q:20 Earnings Call Transcript
(Seeking Alpha, 28.Oct.2020) — Hess Corporation announced it 3Q:20 earnings results. The transcript from the earnings conference call on 28 October 2020 with analyst follows. Company Participants Jay Wilson – VP, IR John Hess – CEO Greg Hill – COO John Rielly – CFO Conference Call Participants Doug Leggate – […]
Valmet Deploys Vuzix M400 Smart Glasses At CMPC Plant
(Vuzix, 29.Oct.2020) — Vuzix® Corporation, a supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced that Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper and energy industries, has deployed Vuzix M400 Smart Glasses at an industrial plant of CMPC, […]
ConocoPhillips Reports 3Q:20 Results
(ConocoPhillips, 29.Oct.2020) — ConocoPhillips reported a third-quarter 2020 loss of $0.5 billion, or ($0.42) per share, compared with third-quarter 2019 earnings of $3.1 billion, or $2.74 per share. Excluding special items, third-quarter 2020 adjusted earnings were a loss of $0.3 billion, or ($0.31) per share, compared with third-quarter 2019 adjusted […]
Guyana, ExxonMobil Negotiating Gas Price
(Argus, 29.Oct.2020) — Guyana is negotiating a gas price with ExxonMobil for a gas-to-power project to be commissioned at the end of 2023, government officials said this week. The US major would supply the gas from the deepwater Stabroek block where it started crude production at the Liza field in […]
Citgo Names John Zuklic As Chief Financial Officer
(Citgo, 29.Oct.2020) — The Board of Directors of Citgo Petroleum Corporation appointed John Zuklic as Vice President Finance and Chief Financial Officer (CFO), reporting to Citgo President and CEO Carlos Jordá, effective 4 Nov. 2020. Zuklic was selected after a thorough, competitive search process that evaluated a number of highly […]
Total Reports Second South African Gas Condensate Find
(Total, 28.Oct.2020) — Total made a significant gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa. This discovery follows the adjacent play opening Brulpadda discovery in 2019, which proved a significant new petroleum province in […]
France’s Total Charters Four New LNG-powered Vessels
(Total, 28.Oct.2020) — Total is pursuing its strategy to reduce greenhouse gases emissions in maritime transportation, by chartering four Aframax-type vessels equipped with liquefied natural gas (LNG) propulsion. These vessels, each with a capacity of 110,000 tons of crude oil or refined products, will be delivered in 2023 and will […]
Exxon Mobil Corporation Declares 4Q:20 Dividend
(Exxon, 28.Oct.2020) — The Board of Directors of Exxon Mobil Corporation declared a cash dividend of $0.87 per share on the Common Stock, payable on 10 December 2020 to shareholders of record of Common Stock at the close of business on 12 November. This fourth quarter dividend is at the […]
Petrobras Updates On Dividend Policy
(Petrobras, 28.Oct.2020) — Petrobras informs that its Board of Directors, in a meeting held yesterday, approved the revision of the Shareholders Compensation Policy in order to enable the Management to propose the payment of dividends compatible with the company’s cash generation, even in years with accounting losses. With the changes […]
Sungrow Crosses 1 GW Of PV Inverter Shipment In Chile
(Sungrow, 28.Oct.2020) — Sungrow, the global leading inverter solution supplier for renewables, announced that the Company hit 1 GW PV inverter cumulative shipment to Chile and took first place in the shipment ranking in Chile this year, contributing to Chilean renewable energy deployment and coal power phase-out national targets. Chile is […]
Hess Reports 3Q:20 Results, Ups Guyana Resources
(Hess, 28.Oct.2020) — Hess Corporation reported a net loss of $243 million, or $0.80 per common share, in the third quarter of 2020, compared with a net loss of $212 million, or $0.70 per common share, in the third quarter of 2019. On an adjusted basis, the Corporation reported a […]
Africa Oil Reports Find In South Africa’s Block 11B/12B
(Africa Oil Corp., 28.Oct.2020) — Africa Oil Corp. announced a significant gas condensate discovery on the Luiperd prospect located on Block 11B/12B offshore South Africa. This discovery follows the adjacent play-opening Brulpadda discovery in 2019, which proved a significant new petroleum province in the region. The company holds an indirect […]
Maduro Says Amuay Hit By ‘Terrorist Tttack’
(Reuters, 28.Oct.2020) — Venezuelan President Nicolas Maduro on Wednesday said the country’s Amuay oil refinery was victim of a terrorist attack on Tuesday that involved a “powerful weapon”, but said the country had gasoline reserves equivalent to 20 days of consumption. An explosion hit a distillation unit at the 645,000 […]
Ecopetrol’s 3Q:20 Earnings Call Transcript
(Seeking Alpha, 28.Oct.2020) — Colombia’s Ecopetrol announced it 3Q:20 earnings results. The transcript from the earnings conference call on 28 October 2020 with analyst follows. Company Participants Felipe Bayón – Chief Executive Officer Alberto Consuegra – Chief Operating Officer Jaime Caballero – Chief Financial Officer Yeimy Baez – Gas Vice […]
Ecopetrol Reports Positive 3Q:20 Results
(Ecopetrol, 28.Oct.2020) — Ecopetrol S.A. announced the Ecopetrol Group’s financial results for the third quarter and the first nine months of 2020. Financial results were prepared in accordance with the International Financial Reporting Standards applicable in Colombia. *Ebitda adjusted to exclude the effect of the Voluntary Retirement Plan amounts to […]
Ecuador Ends Maintenance At Shushufindi Gas Plant
(Energy Analytics Institute, 28.Oct.2020) — EP PetroEcuador finalized scheduled maintenance at the Shushufindi Gas Plant located in the Sucumbíos province. Work activities took place over 14 days and included an integral revision of the rotating and static equipment at the plant to guarantee operational safety and maintain production at its […]
Total Obtains 20% Of Volumes In Solar Tender
(Total, 27.Oct.2020) — Total, through Total Quadran, a wholly-owned affiliate dedicated to developing and producing renewable energy in France, was awarded 67 megawatt-peak (MWp) of solar projects representing 20% of the volumes awarded in the eighth period of the CRE (French Energy Regulatory Commission) call for tenders. Total is thus […]
Venezuela Briefs: Amuay Explosion; Cardon Gasoline
(Energy Analytics Institute, 27.Oct.2020) — Refinery briefs from Venezuela on another explosion at Petróleos de Venezuela’s Amuay refinery and the restart of gasoline production at its Cardon refinery. Both refineries are located in Punto Fijo, Venezuela. Explosion At PDVSA’s Amuay Refinery An explosion at PDVSA’s Amuay refinery impacted the the […]
Petrobras Acquires FPSO P-71 For Itapu Field
(Petrobras, 27.Oct.2020) — Petrobras informs that, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil Petróleo Ltda (25%) and Petrogal Brasil S.A. (10%), signed a commitment to purchase platform P-71, subject to the foregoing conditions related to milestones in the unit’s physical progress. It was also agreed to prepare […]
Financial Markets Are Not Venezuela’s Enemy
(Bloomberg, 27.Oct.2020) — The Guaido administration’s loss in a lawsuit over Citgo’s assets shows the folly of dragging international investors into the highly polarized conflict of Venezuelan politics. On October 16, Judge Katherine Polk Failla of the Southern District of New York dismissed an attempt by the administration of Juan […]
Petrobras Receives Proposal For Gaspetro
(Petrobras, 27.Oct.2020) — Petrobras informs, regarding the news published in the media, that it received yesterday binding proposals for the sale of its 51% stake in Gaspetro S.A. (Gaspetro) and the proposal of Compass Gás e Energia S.A. was one of those received. The receipt of binding proposals is one […]
Petrobras Approves Ethical Conduct Guide For Suppliers
(Petrobras, 27.Oct.2020) — Petrobras approved the Guide to Ethical Conduct for its suppliers. It is the first document exclusively aimed at our suppliers, with guidelines on expected values and ethical behavior. The Guide applies to all service companies, in Brazil or abroad, that are involved in business processes and have […]