(Reuters, 8.Jul.2020) — Petrobras is preparing to launch a tender to build Brazil’s largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production. Petroleo Brasileiro SA, as the Rio de Janeiro-based producer is formally […]
Total Secures $15.8bn For Mozambique Gas Project
(Reuters, 8.Jul.2020) — French oil major Total has secured $15.8 billion in funding for its massive liquefied natural gas (LNG) project in northern Mozambique, according to South African lender FirstRand’s local unit, FNB Mozambique. Total declined to comment. In a press release published on Wednesday, FNB Mozambique said the financing […]
Colombia’s Gamble On Oil Could End In Disaster
(Oilprice.com, 8.Jul.2020) — The latest oil price collapse coupled with the considerable economic fallout from the coronavirus pandemic has battered Colombia’s fragile economy. As the strife-torn Latin American country emerged from decades of civil conflict and narrowly avoided becoming a failed state, it pegged future development and economic growth on […]
SolTrans Turns to AMPLY Power For Bus Charging
(Amply, 7.Jul.2020) — Bringing California closer to its goal to transition all public transit agencies to 100 percent zero-emission bus fleets by 2040, AMPLY Power is managing the charging of electric buses for SolTrans, a public transportation provider for south Solano County, California. Unique to this application, AMPLY is operating […]
Talos To Announce 2Q:20 Results, Host Conference Call
(Talos, 7.Jul.2020) — Talos Energy Inc. will release second quarter 2020 results for the period ended June 30, 2020 on Wednesday, August 5, 2020 after the U.S. financial market closes. In addition to this release, Talos Energy will host a conference call, which will be broadcast live over the internet, […]
Petrobras Decommissions P-12 Platform
(Petrobras, 7.Jul.2020) — Petrobras informs that, after approval by the National Agency for Petroleum, Natural Gas and Biofuels (ANP), the Brazilian Institute for the Environment and Renewable Natural Resources (IBAMA) and the Navy, it started decommissioning the P-12 platform in the Campos Basin. Decommissioning of P-07 and P-15 in the […]
Africa’s Richest Woman to Cooperate In Corruption Probe
(Bloomberg, 7.Jul.2020) — Isabel dos Santos, who is accused of causing billions of dollars in losses to the Angolan government during her father’s 38-year rule, said she is available to cooperate with authorities to clear her name and find out the truth. “What I want to resolve as quickly as […]
Cosan Claims Reorganization May Entail Capitalization
(Reuters, 7.Jul.2020) — Brazilian energy company Cosan SA said its planned reorganization may involve the capitalization of all operating units controlled and co-controlled by the group. In a securities filing on Tuesday, Cosan said the viability of the potential capitalizations of each of the units will be weighed separately and […]
Duke Energy Renewables’ Texas Solar Project Online
(Duke Energy, 7.Jul.2020) — Duke Energy Renewables, a subsidiary of Duke Energy, announced that its 200-megawatt alternating current (MWac) Holstein Solar project in Nolan County, Texas, has begun commercial operation. It is the largest solar project in Duke Energy Renewables’ fleet. “Texas is one of the fastest growing solar energy […]
US Gas Exports To Mexico Set To Rise
(EIA, 6.Jul.2020) — Exports of natural gas by pipeline are the largest component of U.S. natural gas trade, accounting for 40% of all U.S. gross natural gas exports in 2019. EIA expects these exports to increase with the completion of the southern-most segment of the Wahalajara system, the Villa de […]
Will Argentina’s Oil Industry Survive This Crisis?
(Oilprice.com, 6.Jul.2020) — Throughout the 2010s Argentina’s shale deposits were universally listed alongside the US shale gale, denoting the many similarities Vaca Muerta shares with Eagle Ford in particular and Texas’ shale deposits in general. Providing another layer to the juxtaposition, Argentina’s shale-rich Neuquen Province has historically been the main […]
Petrobras Awards Saipem $325mn Buzios Subsea Deal
(Saipem, 6.Jul.2020) — Saipem has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshore the state of Rio de Janeiro. The Búzios-5 overall production system foresees the interconnection of […]
JinkoSolar To Supply 126 MW Modules For Chilean Project
(JinkoSolar, 6.Jul.2020) — JinkoSolar Holding Co., Ltd. announced it will supply 126 MW of solar modules for the expansion of an existing 160 MW solar PV park in Chile. The local contractor recently announced the 126 MW expansion of an existing 160 MW PV park located in the Antofagasta Region. […]
Petrobras Eyes Braskem Deal With Odebrecht
(Reuters, 6.Jul.2020) — Brazilian state-led oil company Petrobras expects within six months to reach an understanding with engineering group Odebrecht on a new shareholder agreement for petrochemical company Braskem SA , the oil firm’s CEO said Monday. Roberto Castello Branco, chief executive of Petroleo Brasileiro SA, as the company is […]
YPFB Decontaminates Two Buildings In Santa Cruz
(Energy Analytics Institute, 6.Jul.2020) — YPFB’s Corporate Occupational Safety and Health Directorate applied its decontamination protocol to two buildings located on Grigota Avenue in Santa Cruz: the National Vice Presidency of Operations (VPNO) and the other, the one for Administration, Inspection and Contracts (VPACF). “As part of the biosecurity measures, […]
Lion Electric Starts Sales Of Lion8 Trucks
(Lion, 6.Jul.2020) — The Lion Electric Co. (Lion) and Boivin Evolution (BEV) are proud to announce the first sales of Lion8 chassis with fully automated side load bodies to Waste Connections, Inc., a leading provider of non-hazardous solid waste collection, transfer, recycling and disposal services in the U.S. and Canada. […]
Duke Reaffirms CAPEX In Renewables, Grid Projects
(Duke Energy, 5.Jul.2020) — Duke Energy will continue advancing its ambitious clean energy goals without the Atlantic Coast Pipeline (ACP) by investing in renewables, battery storage, energy efficiency programs and grid projects. Duke Energy’s $56 billion capital investment plan will deliver significant customer benefits and create jobs at a time […]
Suriname Awaits Drilling Of Third Apache Well Offshore
(Energy Analytics Institute, 4.Jul.2020) — Suriname, the small Dutch-speaking South America country looking to emulate the success of its immediate neighbor to the north, Guyana, is awaiting drilling results of a third well to be drilled offshore by US-based Apache Corporation and Paris-based Total. The companies have already drilled two […]
Venezuela’s Oil Production Sinks To 300,000 b/d
(Argus, 3.Jul.2020) — Venezuela kicked off July with only around 300,000 b/d of crude production and no oil rigs in operation, according to a series of internal operation reports from state-owned PdV. The production level is the Opec country’s lowest in close to nine decades, with the exception of a […]
Venezuela Awaits New Products Cargo From Italy
(Argus, 3.Jul.2020) — Venezuela will receive another products cargo from Italy next week, highlighting the endurance of debt-related oil trade with EU companies that falls outside the scope of escalating US sanctions on Caracas. The Malta-flagged Gemma is scheduled to berth at Venezuela’s Amuay terminal around 8 July, having loaded […]
Petrobras Eyes LNG Units For Pre-salt Gas
(Reuters, 3.Jul.2020) — Brazilian state-controlled oil company Petrobras is considering installing offshore units to liquefy the growing natural gas production from the so-called pre-salt area, the company’s emissions and climate change manager said during a webinar on Friday. Liquefied natural gas units could be an alternative for the gas associated […]
Petrobras Begins NTS Binding Phase
(Petrobras, 3.Jul.2020) — Petrobras, following up on the press release disclosed on 15 May 2020, announces the beginning of the binding phase regarding the sale of its 10% remaining stake in Nova Transportadora do Sudeste S.A. (NTS). Potential buyers qualified for this phase will receive a process letter with detailed […]
Petrobras’ Teaser For Sale Of Petrobras BiocombustÃvel
(Petrobras, 3.Jul.2020) — Petrobras started the opportunity disclosure stage (teaser), regarding the sale of its wholly-owned subsidiary Petrobras BiocombustÃvel S.A. (PBIO). This transaction consists of the sale of 100% of Petrobras’ shares in PBIO, including three biodiesel plants, and does not include the sale of PBIO’s stakes in BSBios (50.0%) […]
Lawmakers Seek To Block Sale Of Petrobras’ Refineries
(Reuters, 2.Jul.2020) — Brazilian lawmakers are seeking a Supreme court injuction to prevent state-run oil company Petrobras from selling its refineries Landulpho Alves and Repar, according to documents seen by Reuters. In their request, lawmakers argue that the sale cotradicts a previous court decision ordering Petrobras to ask for the […]
AlgaEnergy Expands To France And North Africa
(AlgaEnergy, 2.Jul.2020) — AlgaEnergy S.A., a global leader in microalgae biotechnology, continued its global expansion with the appointment of Bachar Blal as Regional Business Manager of its new subsidiary in France and North Africa. Blal has 25 years of agricultural experience in the biological input business in Europe and Africa, […]
Fitch Downgrades Suriname’s IDR To ‘C’
(Fitch Ratings, 2.Jul.2020) — Fitch Ratings has downgraded Suriname’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘C’ from ‘CCC’. KEY RATING DRIVERS The downgrade of Suriname’s Long-Term Foreign Currency IDR to ‘C’ reflects Fitch’s view that the Government of Suriname has begun a distressed debt exchange (DDE) in relation […]
Kichwa People Return To Ecuadorian Court
(Amazon Watch, 2.Jul.2020) — Now 8 years since the court’s decision, the community will once again demand the Ecuadorian government comply with the ruling that requires the removal of buried explosives in their territory and the guarantee of free prior and informed consultation in accordance with international and national standards. […]
Golar Power Enters Alliance With Galileo
(Galileo Technologies, 2.Jul.2020) — The Agreement was signed yesterday in Sao Paulo and will leverage Golar Power’s natural gas distribution Project, without pipelines, in the interior of Brazil. The project will also tap into new biomethane sources. Golar Power, one of the world’s largest LNG integrated companies, entered into a […]
YPF’s Exchange Offer For $1bn 8.5% Senior Notes
(YPF, 2.Jul.2020) — YPF Sociedad Anónima commenced an exchange offer for any and all of its outstanding US$1,000,000,000 aggregate principal amount of 8.500% Senior Notes due 2021 (the “Old Notes“) (144A CUSIP / ISIN Nos. 984245 AM2 / US984245AM20 and Reg S CUSIP / ISIN P989MJ BG5 / USP989MJBG51) for […]
Court To Auction Gasoline Destined For Venezuela
(Reuters, 1.Jul.2020) — A federal court in Houston on Wednesday was expected to auction 100,000 barrels of gasoline that a shipping company suspected a Venezuelan shipping magnate close to the socialist government in Caracas planned to send to the country. The company, Marshall Islands-based Brujo Finance Company, feared the deal […]
Guaido Team Adds to PDVSA Ad Hoc Board
(Reuters, 1.Jul.2020) — Venezuela’s opposition-held National Assembly on Tuesday named three new members to an ad hoc board of directors for state Petroleos de Venezuela (PDVSA), which controls some of the company’s most important overseas assets. It was the latest shakeup in opposition leader Juan Guaido’s overseas leadership team, which […]
Politics Entangling Exile PdV Board
(Argus, 1.Jul.2020) — An “ad hoc” board of state-owned PdV that is a key part of US-backed opposition leader Juan Guaido’s parallel administration is running into political resistance in the run-up to National Assembly elections in early December. Ten deputies in the opposition-controlled assembly withheld support for three board appointments […]
Venezuelan Crude Arrives At Milazzo
(Argus, 1.Jul.2020) — A cargo of Venezuelan crude has arrived at the 235,000 b/d refinery run by Italy’s integrated Eni and Kuwait’s state-owned KPC at Milazzo, Sicily. Around 1mn bl is on board the Delta Tolmi waiting to discharge, and will be the first Venezuelan crude at Milazzo since February […]
Petrobras Supports TCFD
(Petrobras, 1.Jul.2020) — Petrobras is supporting the Task Force for Climate-related Financial Disclosures (TCFD), an initiative by the Financial Stability Board of the G20 group, which is comprised by 19 leading global economies and the European Union, with the mission of developing recommendations for the disclosure of financial risks related […]
Sempra’s IEnova Unit To Report 2Q:20 Earnings 22 Jul.
(Sempra, 1.Jul.2020) — Sempra Energy’s Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), plans to release its second-quarter 2020 earnings by 6 p.m. ET, July 22, in advance of a conference call with IEnova executives at 11 a.m. ET, July 23. Briefing materials also will be posted by 6 […]
ANH Receives Five Expressions Of Interest
(Energy Analytics Institute, 1.Jul.2020) — With the five expressions of interest and/or requests for the incorporation of areas presented by two companies, Colombia’s National Hydrocarbon Agency (ANH) will firmly begin the third cycle of the Permanent Allocation of Areas Process (PPAA by its Spanish acronym). The third cycle contemplates the […]
Eni Reports New Gas Discovery Offshore Egypt
(Eni, 1.Jul.2020) — Eni has successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the prospect called Bashrush. The discovery further extends to the west the gas potential of the Abu Madi formation reservoirs discovered and produced […]
Petrobras To Cut Over 20% Of Workforce
(Reuters, 1.Jul.2020) — Some 10,000 employees of Brazil’s Petrobras, or 22% of its workforce, have accepted voluntary buyouts, Chief Executive Roberto Castello Branco said on Wednesday, as the state-run oil company intensifies its quest to slim down and refocus on core businesses. In a webinar hosted by Brazilian newspaper Valor […]
Venezuela’s Oil Exports Sank In June To 77-year Low: Data
(Reuters, 1.Jul.2020) — Venezuela’s oil exports slumped in June to their lowest level since 1943 after half a dozen tankers, looking to avoid the threat of U.S. sanctions, sailed away from the nation’s waters without loading, according to vessel tracking data. The fall in oil exports has starved the socialist […]
Sasol Sells Escravos GTL Plant In Nigeria To Chevron
(Sasol, 1.Jul.2020) — Sasol and Chevron have signed an agreement that will result in Sasol selling its indirect beneficial interest in the Escravos GTL (EGTL) plant in Nigeria to Chevron. The transaction will release Sasol from associated company guarantees and other obligations. Sasol will continue to support Chevron in the […]
Maersk Awarded Deal Offshore Suriname
(Evercore ISI, 30.Jun.2020) — Maersk Drilling announced the 6th-Gen Maersk Developer was awarded a one-well exploration contract from Petronas for offshore Suriname. The $20.4M backlog includes integrated drilling services and mobe & demobe fees, which implies an all-in dayrate of $267kpd for an estimated 75 days. Notes DRLCO COO Morten […]
Essar Bid For Petrobras’ Bahia Refinery
(Reuters, 30.Jun.2020) — Indian conglomerate Essar Group made a binding offer to Brazil’s Petroleo Brasileiro SA to buy the country’s second largest oil refinery, two people with knowledge of the matter said on Tuesday. Petrobras, as Brazil’s state-controlled oil producer is known, has received at least two offers for the […]
Delek Reports Rise In Revenues In Israel, Abroad
(Delek, 30.Jun.2020) — Delek Group published its first quarter 2020 reports. — Start of production at Leviathan field leads to an increase of 88% in revenues from energy business in Israel and an almost 4-times increase in operating income; — Sharp rise in Ithaca’s revenues, which amounted to USD 348 […]
EP PetroEcuador Awards Spot Sale To Phillips 66 Co.
(Energy Analytics Institute, 30.Jun.2020) — EP PetroEcuador awarded the second spot market sale of 2020 to US refining company Phillips 66 Company. The sale is for 3,600,000 barrels of Oriente crude oil of approximately 24-degrees API. Phillips 66 offered the best differential with a value of -$1.77 per barrel, EP […]
Atlas And Dow Ink Solar Energy PPA In Brazil
(Atlas, 30.Jun.2020) — Atlas Renewable Energy, a leading renewable energy company in Latin America along with the American material science multinational company Dow announced the signing of a large-scale solar energy contract in Brazil. The clean energy supply will be through the Jacaranda photovoltaic solar plant, located in Juazeiro, the […]
Sempra Energy Advances North American Strategy
(Sempra, 30.Jun.2020) — Sempra Energy completed its business exit from South America, following the recently announced sale of its Chilean businesses, which generated approximately $2.23 billion in total cash proceeds, subject to post-closing adjustments. The completion of the Chilean transactions concludes Sempra Energy’s sales of its South American businesses in […]
Brazil’s IBP Sees COVID-19 Impact Until The End Of 2021
(Reuters, 30.Jun.2020) — Brazil’s oil industry expects a recovery in domestic demand in the next months driven by growing China imports, but the negative effects of COVID-19 are expected to last through the end of 2021, lobbying group IBP said in a note on Tuesday. Consumption could drop by more […]
Brazil’s Refinery Utilization Rate Stable
(S&P Global Platts, 30.Jun.2020) — Brazil’s refineries returned close to pre-pandemic levels in June, despite several incidents at processing units across Latin America’s biggest country that led to output volatility during the month, the Mines and Energy Ministry said June 30. State-led oil company Petrobras, which operates 98% of Brazil’s […]
Supermajors Are Flocking To This Booming Oil Frontier
(Oilprice.com, 30.Jun.2020) — Exxon is moving to rapidly expand its exploration footprint in this little-known venue, French Total SA is spudding its first well here, small-cap Eco Atlantic – of offshore Guyana fame – is stepping up offshore activity, and onshore, fellow junior Recon Africa is hoping to be sitting […]
Chevron Completes Purchase Of Puma Energy (Australia)
(Chevron, 30.Jun.2020) — Chevron Australia Downstream Pty Ltd., a wholly-owned subsidiary of Chevron Corporation, today announced that it has completed the acquisition from Puma Energy Asia Pacific B.V. of all shares and equity interests of Puma Energy (Australia) Holdings Pty Ltd for the amount of AU$425 million. The acquisition adds […]