(Energy Analytics Institute, 11.Sep.2020) â Venezuela captured an alleged American spy near its Amuay refinery located in FalcĂłn state. âWe have captured an American in FalcĂłn, spying on the Amuay and CardĂłn refineries,â state oil company PetrĂłleos de Venezuela SA (PDVSA) announced 11 September 2020 in an official statement, citing […]
Fitch Affirms Peru LNG At ‘BB-‘; Negative Outlook
(Fitch, 10.Sep.2020) â Fitch Ratings has affirmed Peru LNG S.R.L’s (PLNG) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB-‘. The Rating Watch Negative has been removed, and a Negative Outlook has been assigned. The rating also includes PLNG’s $940mn senior unsecured notes due 2030. PLNG’s Ratings and […]
Equinor Partners With BP in US offshoreWind
(Equinor, 10.Sep.2020) â Equinor entered into an agreement with BP to sell 50% non-operated interests in the Empire Wind and Beacon Wind assets on the US east coast for a total consideration before adjustments of $1.1bn. Through this transaction, the two companies are also establishing a strategic partnership for further […]
Maersk Chips In With Hurricane Laura Relief
(Maersk, 10.Sep.2020) â APM Terminals Mobile, the Alabama State Port Authority, Maersk Special Project Logistics and Team Rubicon worked together this past week to collect over 36,000 pounds of bottled water, non-perishable food and other emergency supplies for distribution to those affected by Hurricane Laura in communities surrounding Lake Charles, […]
Pelican Energy Partners To Buy Baker Hughes Unit
(Pelican Energy, 10.Sep.2020) â Pelican Energy Partners LP announced an agreement to purchase the assets of the Surface Pressure Control Flow (“SPC Flow”) business unit of the Oilfield Equipment segment of Baker Hughes. Pelican is working in cooperation with the management team of SPC Flow to carve-out the business unit […]
Petrobras Signs Onto PACI At World Economic Forum
(Petrobras, 9.Sep.2020) â Petrobras has again become a signatory to the anti-corruption initiative Partnering Against Corruption Initiative (PACI) of the World Economic Forum. PACI is the leading international anti-corruption organization with compliance officers from large multinationals, international organizations and governments. The initiative acts as a global platform for collective action, […]
Seized Gasoline Tanker Arrives Off Freeport, Texas
(Reuters, 9.Sep.2020) â A tanker containing a cargo of Iranian gasoline confiscated by the United States arrived on Wednesday at a Texas port where it was preparing to discharge, according to a pilots group spokesperson. The Euroforce arrived off of Freeport, Texas, on Wednesday and had retained Texas Marine Agency, […]
Petrobras Reports Record S-10 Diesel, LPG Production
(Petrobras, 9.Sep.2020) â Petrobras announced that, for the third month in a row, it has broken the production record of S-10 Diesel, low-sulfur diesel. In August, the company’s refineries processed 1.84 million mÂł of the product, a volume slightly higher than in July, when it reached 1.81 million mÂł, and […]
Equinor Teams Up For Offshore Wind In Japan
(Equinor, 9.Sep.2020) â Equinor, Jera and J-Power partner up and enter a joint bid agreement prior to Japanâs upcoming Round 1 offshore wind auction. The three companies will jointly evaluate and work towards submitting a joint bid in the Round 1 auction once the Japanese government officially opens what will […]
Talos Not Impacted By Expanded Moratorium
(Talos 9.Sep.2020) â Talos Energy Inc. issued a statement clarifying the company’s business will not be impacted by the recently announced Presidential Order extending the current moratorium on oil and gas development in the Eastern Gulf of Mexico (offshore Florida) and imposing new restrictions on oil and gas development in […]
Kosmos To Farm Down Exploration Assets To Shell
(Kosmos, 9.Sep.2020) â Kosmos Energy has entered into an agreement with B.V. Dordtsche Petroleum Maatschappij (Shell), a wholly-owned subsidiary of Royal Dutch Shell PLC, to farm down interests in a portfolio of frontier exploration assets for approximately $100mn, plus future contingent payments of up to $100mn. Under the terms of […]
Hess Corp. CEO John Hess Eyes Imminent Payara Deal
(Energy Analytics Institute, 9.Sep.2020) â Hess Corporation CEO John B. Hess is optimistic the Guyanese government of new President Mohamed Irfaan Ali will give approval in coming weeks for the companyâs Payara offshore development. âIn terms of our Payara development, our joint venture is in close communication with the government […]
Venezuela Oil Collapse Stops Gas Smuggling In Colombia
(Wbur, 9.Sep.2020) â The economic hardship in Venezuela has been a huge burden for neighboring Colombia. Finally, a silver lining: the collapse of Venezuela’s oil industry has stopped gas smuggling into Colombia. NPR’s John Otis reports here. __________
PdV Ad Hoc Chairman Joins Opposition Flight
(Argus, 9.Sep.2020) â The chairman of the Venezuelan opposition’s “ad hoc” board of national oil company PdV has joined a flight of exiled technocrats from the ranks of a struggling US-backed parallel administration led by Juan Guaido. Luis Pacheco, who was named in April 2019, has focused his board efforts […]
Mexico Slashes Crude Targets In 2021 Budget
(Argus, 9.Sep.2020) â Mexico’s government slashed its crude oil output forecast for the next four years, with next year’s target down by 11pc from the original goal. Mexico’s state-owned Pemex expects to produce 1.86mn b/d next year, down by 11pc on the 2.1mn b/d forecast in the company’s 2019 business […]
bpTT And TT Government Ink License Extensions
(bpTT, 9.Sep.2020) â bp Trinidad and Tobago (bpTT) announced the successful completion of negotiations with the government of Trinidad and Tobago on extensions to its exploration & production licenses. For several months, bpTT, its co-licensees and the government have been engaged in negotiations related to commercial issues that are important […]
Trinidad’s Energy Chamber Launches LCMS
(Energy Chamber, 9.Sep.2020) â The Energy Chamber of Trinidad and Tobago announces the launch of its Local Content Management System. The launch of the system took place in a virtual event on 9 September 2020. In attendance were over 300 representatives from the Upstream, Downstream and Energy Service contractors and […]
Air Products To Supply Four Cryogenic Heat Exchangers
(Air Products, 9.Sep.2020) â Air Products, the world’s leader in liquefied natural gas (LNG) technology and equipment, will provide four of its MCRÂź Main Cryogenic Heat Exchangers (MCHEs) for Sonatrach’s GL1Z LNG facility in Arzew, Algeria. The four heat exchangers will each have 1.3 million tonnes per year production capacity […]
Petrobras On Binding Phase For Santos Basin Assets
(Petrobras, 8.Sep.2020) â Petrobras, following up on the release from 10 August 2020, informs the beginning of the binding phase regarding the sale of 50% to 100% of its stake, with the passing of the operation, in the BM-S-51 concession, in the Santos Basin. The concession is located at water […]
Noble Lloyd Noble To drill At Valemon
(Equinor, 8.Sep.2020) â Noble Drilling Norway AS has been awarded a contract for drilling three wells at the Valemon field from the summer of 2021, applying the Noble Lloyd Noble drilling rig. The contract includes an option for drilling one extra well at the Valemon field, and 11 wells that […]
Ecuador Announces PPS For Renewable Projects
(Energy Analytics Institute, 8.Sep.2020) â Ecuador revealed details of a public selection process (PPS) for a private sector concession for a block of non-conventional renewable energy projects, also known as ERNC by its Spanish acronym, with a potential of 200 megawatts (MW). Private investment of up to $300mn is expected, […]
Petronas Boosts Accessibility To Cleaner Energy
(Petronas, 8.Sep.2020) â As part of the companyâs latest customer-centric solution to facilitate the growth of cleaner energy use across Peninsular Malaysia, Petronas recently launched the Virtual Pipeline System (VPS) solution via the Regasification Terminal (RGT) in Pengerang, Johor. The VPS solution that was developed by the Gas & Power […]
Copec Voltex Selects Driivz For Charging Infrastructure
(Copec, 8.Sep.2020) â Copec Voltex, a subsidiary of Copec S.A., a leading energy and mobility company and one of the most trusted brands throughout Latin America and the Southeastern United States, migrated its electric vehicle charging infrastructure to Driivz, the leading end-to-end EV charging and smart energy management software platform. […]
Rafael Ramirez: Venezuela Can Fix Its Own Oil Industry
(Argus, 8.Sep.2020) â Rafael Ramirez served as Venezuela’s oil minister from 2002-2013 and concurrent chief executive of state-owned PdV from 2004-2013, a tumultuous period marked by an oil strike and nationalizations under the late president Hugo Chavez. In this interview, edited for length and clarity, Ramirez, now in exile in […]
Capital Research Acquires Petrobras Preferred Shares
(Petrobras, 8.Sep.2020) â Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, reports it was notified today by Capital Research Global Investors (CRGI), independent investment division of Capital Research and Management Company, that it has acquired preferred shares issued by the company and it manages […]
Hess Finds More Oil At Redtail-1, Yellowtail-2
(Hess, 8.Sep.2020) â Hess announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent. Redtail-1 encountered approximately 232 feet (70 meters) of […]
Total Resigns Operator Role In Foz Do Amazonas Basin
(Total, 7.Sep.2020) â Total notified its partners on 19 August 2020 about its resignation from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin, 120 kilometers offshore Brazil. These exploration blocks are referenced as FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127. Total has informed the […]
What Oil Spill In Venezuela Tells Us About Its Politics
(Javier Corrales, 7.Sep.2020) â The largest oil reserves and one of the worldâs most incompetent governments have brought authoritarianism, economic collapse and environmental disaster to the country. It has been a tough summer for Venezuela. The already ailing country, in the throes of a severe lockdown, is also experiencing a […]
New NW Operating Center To Service Over 50,000 Users
(Energy Analytics Institute, 7.Sep.2020) â The Quito Electric Company (EEQ by its Spanish acronym) announced initial operations on 7 September 2020 at the Northwest Operation Center and Los Bancos Agency to the benefit of more than 50,000 users in towns such as Nanegalito, Nono, Nanegal, Pacto, Gualea and Pedro Vicente […]
Exxon Downsizes As Wall Street Worries About Dividend
(Reuters, 7.Sep.2020) â Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about $48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that will require the top U.S. oil company to make deep cuts to its staff and projects. Wall […]
Libya Oil Units Halt Operations On Virus Spread
(Reuters, 7.Sep.2020) â Two affiliates of Libyaâs National Oil Corp (NOC) have suspended some work because of the spread of the coronavirus, they said in statements posted online on Monday. The countryâs biggest refinery, Zawiya, located west of Tripoli, said it had closed its offices from Sept. 8-17, reducing staffing […]
Iranian Shipments Of Oil To Venezuela
(Dryad Global, 7.Sep.2020) â Reporting from TankerTrackers.com indicates that three Iranian tankers have departed Iran, with a suggested routing to Venezuela, via the Suez Canal. The three vessels in question are: – FOREST (IMO: 9283760), Iranian-flagged oil and chemical tanker.– FAXON (IMO: 9283758), Iranian-flagged oil and chemical tanker.– FORTUNE (IMO: […]
Big Oil Sees Major Potential In Suriname
(Oilprice.com, 7.Sep.2020) â Suriname is one of Latin Americaâs poorest countries. Up until July 2020, the former Dutch colony was mired in a political crisis that emerged from the hotly contested May parliamentary elections. It saw incumbent, former military strongman and convicted murderer, Desiree Bouterse replaced by former police chief […]
The Threat Of Oil Nationalism In Argentina
(Oilprice.com, 6.Sep.2020) â Latin America has a long history of resource nationalism, particularly when it comes to petroleum. Since the end of World War Two, this has acted as a significant deterrent for international energy majors seeking to invest in the regionâs vast hydrocarbon potential. This is being amplified by […]
PDVSA Says Nabarima No Threat To Ecosystem
(Energy Analytics Institute, 5.Sep.2020) â Venezuelaâs state oil company Petroleos de Venezuela (PDVSA) says the Nabarima floating crude storage unit located off the country’s Gulf of Paria doesnât âconstitute in any way any threat to the ecosystem of the area.â In this regard, PDVSA also said on 5 September 2020 […]
YPF To Restart Shale Drilling In Argentina
(Argus, 4.Sep.2020) â Argentina’s state-controlled YPF will resume drilling activity in the country’s Vaca Muerta shale formation after an almost six-month pause resulting from pandemic restrictions. YPF will begin operating two drilling rigs in Vaca Muerta over the next two weeks, chief executive Sergio Affronti said today. The rigs will […]
Hess To Participate In Barclays CEO Conference
(Hess Corp., 4.Sep.2020 â Hess announced that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on 9 September 2020 at 8:25 a.m. ET. A live audio webcast and a replay of the presentation will be accessible via Hess Corporationâs website. Hess Corporation […]
Petrobras Concludes Jupiter Area Drill Stem Test
(Petrobras, 4.Sep.2020) â Petrobras informs the conclusion of the Drill Stem Test (DST) in the area of JĂșpiter Discovery Assessment Plan, located in the Santos Basin presalt. The Jupiter area belongs to the BM-S-24 concession, in which Petrobras is the operator, with an 80% interest, and was acquired in 2001 […]
Maduro Assigns Oil Sector Workers Three Special Tasks
(Energy Analytics Institute, 3.Sep.2020) â Venezuelaâs President Nicolas Maduro announced three areas of focus for petroleum sector workers as well as others working directly within the state oil giant Petroleos de Venezuela (PDVSA). âI have ordered the AlĂ RodrĂguez Araque Presidential Commission and PDVSA workers [focus] on three tasks: the […]
Houston American Energy Completes Permian Well
(Houston American, 3.Sep.2020) â Houston American Energy Corp. provided an update on recent activities on its U.S. Permian Basin acreage. In Yoakum County, TX, the Frost #2-H frac has been completed and the well is expected to go on production within a week. Houston American Energy holds an 18.6% working […]
Mexico’s Environment Minister Resigns
(Reuters, 2.Sep.2020) â Mexico’s environment minister has resigned after clashing with colleagues over policy priorities, prompting President Andres Manuel Lopez Obrador to defend the government’s green credentials on Wednesday. Environment Minister Victor Manuel Toledo, an academic known for his views on sustainable agriculture and the environmental practices of Mexico’s indigenous […]
Damaged Venezuelan Oil Tanker Drawing Concern
(AP, 2.Sep.2020) â The sight of a huge oil tanker that has taken on water and is leaning to one side off a remote stretch of Venezuelaâs coast has triggered international calls for action. After years of neglect, the FSO Nabarima, a rusting hulk full of thick crude, is in […]
Ecuador Briefs: MENRNR Appointments
(Energy Analytics Institute, 2.Sep.2020) â Ecuadorâs Ministry of Energy and Non-Renewable Natural Resources (MENRNR) announced new appointments at EP PetroEcuador and SCAN. Merino Avendaño Appointed New EP PetroEcuador General Manger (Energy Analytics Institute, 2.Sep.2020) â The Board of Directors of EP PetroEcuador and RenĂ© Ortiz DurĂĄn, the chair of Ecuadorâs […]
Sungrow Inks Deal For Inverter Solution To Dubai
(Sungrow, 2.Sep.2020) â Sungrow, the global leading inverter solution supplier for renewables, announced that the Company partnered with Shanghai Electric to supply its latest 1500V 6.25 MW turnkey solution to the 900 MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, illustrating its efforts in […]
PDVSA, Eni Weigh Options To Transfer Idled Oil
(Reuters, 2.Sep.2020) â Venezuelan state oil company PDVSA and Italy’s Eni are looking at options to safely offload crude from a floating storage facility on Venezuela’s eastern coast that has remained idle for over a year due to U.S. sanctions, according to sources close to the discussions. The companies suspended […]
Mexico’s Obrador Says 2021 Budget Includes Refinery
(Reuters, 2.Sep.2020) â Mexican President Andres Manuel Lopez Obrador said on Wednesday the 2021 budget would call for spending on priority infrastructure, including refineries and oil production, and would not raise taxes. The Finance Ministry is due to present the budget next Tuesday, with the government facing scrutiny over an […]
Manuela Molina Named Sempra’s IR Vice President
(Sempra, 2.Sep.2020) â Sempra Energy announced that Manuela “Nelly” Molina, currently chief financial officer for Sempra Energy’s Mexico subsidiary, Infraestructura EnergĂ©tica Nova, S.A.B. de C.V. (IEnova), has been named vice president of investor relations for Sempra Energy. “Over the past 10 years, Nelly has built a tremendous career at IEnova […]
Venezuelan Opposition Politician Backs Elections
(Wall Street Journal, 2.Sep.2020) â A prominent Venezuelan opposition figure on Wednesday said he is supporting congressional elections in December that Juan GuaidĂł, the opposition leader backed by the U.S., has pledged to boycott. The decision by Henrique Capriles to support the elections is a major fissure in a movement […]
Ecuadorâs Oil Output At 512,439 B/d: MERNNR
(Energy Analytics Institute, 1.Sep.2020) â South Americaâs Ecuador, formerly a member of the Organization of Petroleum Exporting Countries (OPEC), announced production of crude oil reached 512,439 barrels per day on the first day of September 2020. Of the production, PetroAmazonas accounted for 410,104 b/d or 80% of total production while […]
Citgo-6 Surpasses 1,000 Days Of Wrongful Detention
(Energy Analytics Institute, 1.Sep.2020) â More than 1,000 days have passed since Tomeu Vadell, JosĂ© Luis Zambrano, Alirio Zambrano, Jorge Toledo, Gustavo Cardenas and JosĂ© Pereira â known as the Citgo-6 â were lured to Caracas for business meetings and then detained by masked security agents and thrown into one […]