(Repsol, 30.Apr.2020) â Repsol has launched Solmatch, the first large solar community in Spain, as part of its commitment to offering different supply alternatives to its customers. This product is aligned with the companyâs strategy to become a net zero emissions company by 2050. Generation and self-consumption of renewable energy […]
US Seeks To Investigate Mexico Oil-For-Food Pact
(Reuters, 29.Apr.2020) â The U.S. State Department, the Treasury Department and the U.S. Embassy in Mexico are investigating at least two Mexican firms involved in an oil-for-food pact signed in 2019 with Venezuelaâs government, U.S. officials said on Wednesday. Mexico-based Libre Abordo and an affiliated company, Schlager Business Group, have […]
TGS Files 2019 Annual Report On Form 20-F
(TGS, 29.Apr.2020) â Transportadora de Gas del Sur S.A. today it filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 (the “2019 Annual Report”) with the U.S. Securities and Exchange Commission (the “SEC”). The 2019 Annual Report can be accessed by visiting the Company’s […]
CNOOC Ltd Announces Key Ops Statistics For Q1 2020
(CNOOC, 29.Apr.2020) â CNOOC Limited announced its key operational statistics for the first quarter of 2020. The Company achieved a total net production of 131.5 million barrels of oil equivalent (“BOE”) for the first quarter of 2020, representing an increase of 9.5% year-over-year (“YoY”). Production from China increased by 9.7% […]
Petrobras Powers Past Oil Glut On China Sales
(Bloomberg, 29.Apr.2020) â Petrobras, Brazilâs state-controlled oil giant, is plowing through a global oil glut expecting that exports to China will soon rebound, and with extensive storage capacity helping it endure in the meantime. Demand destruction from the Covid-19 pandemic has prompted producers globally to shut in barrels nobody wants. […]
Is PDVSA Abandoning Its Socialist Agenda?
(Oilprice.com, 29.Apr.2020) â Venezuela seems to be changing tactics when it comes to managing its oil resources. PDVSA is considering a major industry reform that would increase private company activities in its troubled oil industry, according to a document seen by Reuters. This would be a far cry from its […]
A Political Crisis Threatens To Derail Guyanaâs Oil Boom
(World Politics Review, 28.Apr.2020) â Despite growing signs of a dramatic and global economic downturn stemming from the coronavirus pandemic, the small South American country of Guyana appears poised for a period of spectacular economic growth. In its recent semiannual report on Latin America and the Caribbean, the World Bank […]
Fire Reduces Venezuelan Heavy Crude Flow
(Reuters, 28.Apr.2020) â The latest fire to erupt at one of Venezuelan state-owned PdV’s oil installations has temporarily knocked out up to 130,000 b/d of heavy crude production from three of the firm’s joint ventures with foreign partners. PdV said today it has extinguished the blaze, which broke out on […]
Even At $10/bbl, Traders Balk At Buying Nigeriaâs Oil
(Bloomberg, 28.Apr.2020) â The oil price crash isnât getting any easier for Nigeria. Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures reflect an urgent need to offload cargoes in what is a highly competitive marketplace. Even so, […]
PDVSA Proposes Selling Oil Assets To Private Sector
(Forbes, 28.Apr.2020) â In a total about-face on the âsocialismâ and âcommunismâ and the Yankee-Go-Home attitude of the ruling Socialists United of Venezuela (PSUV), the countryâs beleaguered and bankrupt oil firm PdVSA has apparently thrown in the towel. They think itâs a good idea that the closed economy starts selling […]
Petrobras Starts BSBios Binding Phase
(Petrobras. 27.Apr.2020) â Petrobras, following up on the press release disclosed on 23 January 2020, informs that its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBio), on its behalf and representing its partner RP BiocombustĂvel Ltda, is initiating the binding phase of the competitive process regarding the joint sale of all shares […]
LNG Continues Enhancing Global Energy Security: IGU
(IGU, 27.Apr.2020) â The International Gas Union (IGU) is pleased to launch its annual LNG report for 2020. The comprehensive analysis highlights all the material changes in the global LNG industry in 2019. This report features key global LNG industry updates, right across its value chain, demonstrating yet another strong […]
Petrobras Reverses Production Cuts
(Reuters, 27.Apr.2020) â Brazilian state-run oil firm Petrobras has reversed most of its previously announced production cuts due to higher-than-expected demand for some fuels, it said on Monday, a surprising turnaround that may be tied to an aggressive bet on bunker fuel. In a Monday securities filing with first-quarter production […]
JinkoSolar Files 2019 Annual Report On Form 20-F
(JinkoSolar, 27.Apr.2020) â JinkoSolar Holding Co., Ltd. announced that the Company filed its annual report on Form 20-F for the fiscal year ended 31 December 2019 with the Securities and Exchange Commission on 24 April 2020. The Company’s annual report on Form 20-F contains its audited consolidated financial statements and […]
Venezuela Floats Lean PdV With Russia Unit
(Argus, 27.Apr.2020) â The two Maduro loyalists who have been effectively running Venezuela’s national oil industry for two months were officially appointed today as acting heads of the oil ministry and PdV, with a mandate to dismantle the company’s bloated Chavez-era organization in favor of a lean structure featuring a […]
Diamond Commences Chapter 11 Proceedings
(Diamond, 27.Apr.2020) â Diamond Offshore Drilling, Inc. announced that the Company and select subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas (the “Chapter 11 Cases”). Diamond intends to use the proceedings to […]
Gerdau S.A. Files Form 20-F
(Gerdau, 27.Apr.2020) â Gerdau S.A. hereby announces that the Form 20-F related to the fiscal year ended December 31, 2019 was filed with the U.S. Securities and Exchange Commission (SEC) and the Securities and Exchange Commission of Brazil (CVM) and is available at the Company’s Investor Relations Website (www.gerdau.com/investidores). Shareholders […]
Pemex To Prioritize Lower-cost Production
(Reuters, 27.Apr.2020) â Mexicoâs state oil firm Pemex on Monday detailed measures aimed at mitigating the effects of a steep drop in oil prices, saying it would prioritize lower-cost production that would allow the government to comply with its âinternational commitments.â Petroleos Mexicanos, as the firm is formally known, detailed […]
Mexican Oil Platforms Cut Staff Over Coronavirus
(Reuters, 26.Apr.2020) â Mexico has begun removing staff from Gulf of Mexico oil platforms to limit the spread of the coronavirus, leaving essential personnel on board, state oil firm Petroleos Mexicanos (Pemex) said on Sunday. Pemex said in a statement that workers had started coming off the rigs as Mexico […]
Why Mexicoâs Oil Industry Is Destined For Disaster
(Oilprice.com, 25.Apr.2020) â Mexico has somewhat inadvertently found itself at the heart of the oil industryâs most burning issues of 2020 â just when it seemed that Russia, Saudi Arabia, the United States and a whole array of prominent oil-producing countries reached an agreement on future OPEC+ production cuts, the […]
Ecuador Names New Electricity Vice Minister
(Energy Analytics Institute, 24.Apr.2020) â Ecuador appointed engineer Jose Luis Peña Arteaga as the countryâs new vice minister of electricity and alternative energies. The official assumed the responsibilities after compliance with Ecuadorian law, the ministry announced 24 April 2020 in an official statement. __________ By Piero Stewart. © Energy Analytics […]
Argentinaâs YPF SA Files Form 20-F
(YPF, 24.Apr.2020) â YPF SA announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2019, with the US Securities and Exchange Commission, including audited financial statements. The document is available on the YPF website at http://www.ypf.com in the Investor Relations section, […]
CPFL Energia Files 20-F Form Annual Report With the SEC
(CPFL, 24.Apr.2020) â CPFL Energia announces that its 2019 20-F Form annual report has been filed with the U.S. Securities and Exchange Commission on April 24, 2020 and is available on the company’s Investor Relations website (www.cpfl.com.br/ir). Investors can receive a printed copy of the report, free of charge, including […]
Moody’s Assigns Baa3 Rating To Ecopetrol Notes
(Moodyâs 24.Apr.2020) â Moody’s Investors Service assigned a Baa3 rating to Ecopetrol S.A.’s proposed new global notes. The Baa3 rating on the proposed notes is based on the rating of Ecopetrol. The proposed notes are senior unsecured, unsubordinated and pari passu with Ecopetrol’s other senior foreign currency debt. Proceeds from […]
Argentina Plans Higher Local Oil Price
(Reuters, 23.Apr.2020) â Argentina plans to issue a decree setting a higher local oil barrel price to protect the domestic industry from being further decimated by a collapse in global prices and slumping fuel demand due to the coronavirus pandemic, two industry sources told Reuters on Thursday. The locally-set oil […]
Pemex Declares Force Majeure On Fuel Imports
(Reuters, 23.Apr.2020) â Mexican state oil company Pemex has declared force majeure over fuel imports from its trading arm PMI Comercio Internacional, two sources with knowledge of the decision said Thursday, as demand craters due to fallout from the coronavirus pandemic. Many gasoline and diesel importers around the world have […]
Pemexâs Trading Arm Declares Force Majeure
(Bloomberg, 23.Apr.2020) â Mexico, the largest recipient of U.S. gasoline exports, is seeking to cancel imports of the fuel from at least one U.S. company amid the rippling effects of the coronavirus on demand. Petroleos Mexicanosâs trading unit, PMI, declared force majeure on imports of gasoline as an armada of […]
Iran Ships Material To Help Repair PDVSA Refinery
(Reuters, 23.Apr.2020) â Venezuela has received refining materials via plane shipment from Iran to help it start the catalytic cracking unit at the 310,000 barrels-per-day Cardon refinery, which is necessary to produce gasoline, an official said on Thursday. The shipments mark a new stage in cooperation between the two OPEC […]
Total Buys Tullow Interests In Uganda Project
(Total, 23.Apr.2020) â Total and Tullow have entered into an Agreement, through which Total shall acquire Tullowâs entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline. The overall consideration paid by Total to Tullow will be $575M, with an initial payment of $500M at […]
Venezuelaâs Oil Output Could Fall Again Soon
(Oilprice.com, 23.Apr.2020) â On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela that they had until December to wind down operations in the country. The Treasury Departmentâs Office of Foreign Assets Control (OFAC) issued a new license that only authorizes âlimited maintenance of essential operationsâ […]
Mexico Announces Emergency $25.5bn Package
(S&P Global Platts, 22.Apr.2020) â Mexico announced a Peso 622.56 billion ($25.5 billion) package on Wednesday that will help the nation face the economic consequences of the coronavirus pandemic, with the focus on Pemex, the state-controlled oil firm. The emergency budget will be aimed at 38 priority projects of the […]
Cameron LNG Begins Train 3 Final Commissioning
(Cameron LNG, 22.Apr.2020) â Sempra LNG, a subsidiary of Sempra Energy, announced that Cameron LNG has entered the final commissioning stage for the Phase 1, three-train liquefaction-export project in Hackberry, La., as it began introducing pipeline feed gas flow to the third and last liquefaction train. “Cameron LNG is a […]
Talos Energy To Announce 1Q:20 Results 6 May 2020
(Talos, 22.Apr.2020) â Talos Energy Inc. intends to release first quarter 2020 results for the period ended March 31, 2020 on Wednesday 6 May 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 […]
Exxon Among 34 Vying To Market Guyanaâs Oil
(Stabroek News, 22.Apr.2020) â Thirty-four companies have submitted expressions of interests (EOIs) to market Guyanaâs entitlement from the Exxon-operated Liza Destiny FPSO in the Stabroek Block, offshore Guyana. The companies include the Stabroek Block operator ExxonMobil, current marketer Shell Western Supply and Trading Ltd, former British Petroleum Company BP, Norwayâs […]
Chevron Barred From Drilling In Venezuela
(Reuters, 22.Apr.2020) â Chevron Corp has been banned from drilling or transporting oil in Venezuela and its assets there are âmothballedâ as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said on Wednesday. The restriction is expected to […]
Ecopetrol On 2019 Earnings Distribution
(Ecopetrol, 22.Apr.2020) â Ecopetrol S.A. informs the ordinary General Shareholdersâ Meeting, held on 7 March 2020, approved the earnings distribution proposal presented for their consideration, which establishes the distribution of an ordinary dividend per share of one hundred and eighty pesos (COP$ 180). The dividend of the minority shareholders will […]
Core Lab Reports 1Q:20 Results
(Core Lab, 22.Apr.2020) â Core Laboratories N.V. reported that continuing operations resulted in first quarter 2020 revenue of $152,400,000. The financial results for the first quarter of 2020 include a non-cash charge of $122,000,000 for the impairment of goodwill and intangible assets in the Production Enhancement segment, a charge of […]
Chevron In Effect Barred From Venezuela
(Bloomberg, 21.Apr.2020) â Chevron Corp. will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regimeâs crumbling oil industry another blow as U.S. President Donald Trump maneuvers for regime change in the Latin American nation. The U.S. Treasury Department will no longer allow the company to […]
Over 30 Cos Vie For Guyana Oil Trading Contract
(Reuters, 21.Apr.2020) â More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions of interest for a contract to market the Guyanese governmentâs share of the countryâs crude, the government said on Tuesday. […]
Trump Tells Chevron To âWind Downâ In Venezuela
(AP, 21.Apr.2020) â The Trump administration on Tuesday ordered Chevron Corp. to âwind downâ operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling or exporting, as the U.S. increases pressure on President NicolĂĄs Maduro to give up power. Chevron is the last major […]
Brazilian Producer Appoints MiX To Monitor Its Fleets
(MiX, 21.Apr.2020) â MiX Telematics confirmed that one of Brazil’s largest ethanol and sugar producers have appointed MiX Telematics to assist in modifying driver behavior and reducing vehicle collisions. The major industry player accounts for 10% of ethanol supply in Brazil; grinding 27 million tons of sugarcane in one harvest […]
Trinidad Monitoring Oil Prices On Global Market
(Jamaica Gleaner, 21.Apr.2020) â The Trinidad and Tobago Government Tuesday urged nationals not to panic as the oil-and-gas-rich country prepared to count the possible loss of billions of dollars in revenue as a result of the historic drop in oil prices on the global market. âOil and gas are cyclical. It […]
Ecopetrol Files Form 20-F For Fiscal Year 2019
(Ecopetrol, 20.Apr.2020) â Ecopetrol S.A. announced filing of its annual report under Form 20-F for the fiscal year ended December 31, 2019 with the U.S. Securities and Exchange Commission (the “SEC”). With the filing of its annual report under Form 20-F the Company complies with its reporting obligations with the […]
How Will The Oil $$ Crash Affect Trinidad And Tobago?
(Trinidad Express, 20.Apr.2020) â History was created on the global oil market today when the price of the US benchmark, West Texas Intermediate, plunged into negative territory for the first time ever. At 2.30 p.m. today in New York, where the WTI benchmark is traded, the futures price of American […]
Raizen Halts Crude Runs At Buenos Aires Refinery
(Argus, 19.Apr.2020) â Raizen has suspended operations at its 110,000 b/d Buenos Aires refinery in response to the plunge in oil demand caused by coronavirus restrictions. Raizen, a joint venture between Shell and Brazilian energy and logistics conglomerate Cosan, halted crude processing on 17 April after running out of storage. […]
Petrobras Starts Papa-Terra Binding Phase
(Petrobras, 17.Apr.2020) â Petrobras, following up on the press release disclosed on 3 February 2020, announces that it has started the binding phase referring to the sale of its entire stake at the Papa-terra field, located in deepwater in the Campos Basin. Qualified parties for this phase will receive a […]
Petrobras Says S&P Maintains Scale Rating
(Petrobras, 17.Apr.2020) â Petrobras announces the rating agency S&P Global Ratings affirmed the âBB-â global scale rating for Petrobras, with a stable outlook. The stand-alone credit profile remained at “bb”, one notch above the sovereign. S&P highlighted that the company’s liquidity position remains strong despite forecasted lower operating cash flow […]
Guyanaâs Oil Dream: A Tale Of Smoke And Mirrors
(Jamaica Gleaner, 17.Apr.2020) â Picture soaring sky-scrapers with glistening glass windows adorning cathedrals of steel that dominate the illuminated skyline. This image encapsulates the dreams of many developing countries which seek to achieve unparalleled development, especially upon discovery of vast resource deposits. Expectations for these nations are initially high, with […]
Petrobras Eyes Restart At Ships Hit By Coronavirus
(Reuters, 17.Apr.2020) â Brazilian state-run oil firm Petrobras plans to restart operations in the coming days at two ships used in offshore oil production that suffered coronavirus outbreaks, an executive told journalists during a call on Friday. Petrobras Exploration and Production Director Carlos Alberto de Oliveira said operations at the […]
Fitch Downgrades PEMEX, CFE, IEnova And Cometa
(Fitch Ratings, 17.Apr.2020) â Fitch Ratings has downgraded the international Foreign- and Local-Currency Long-Term ratings for Petroleos Mexicanos (PEMEX), Comision Federal de Electricidad (CFE), Infraestructura Energetica Nova, S. A. B. de C. V. y Subsidiarias’ (IEnova) and Cometa Energia, S. A. de C. V. following this week’s downgrade of Mexico’s […]