(Reuters, 9.Mar.2020) — The United States, the European Union, Canada and six European nations have held joint talks on concerns over Mexico’s energy policy, sources told Reuters, as President Andres Manuel Lopez Obrador pushes for a bigger role for the state in the sector. The unusually broad diplomatic encounter is […]
Talos Energy To Postpone Analyst And Investor Event
(Talos, 9.Mar.2020) — Talos Energy Inc. announced that it is cancelling its Analyst and Investor Event previously scheduled for March 12, 2020 in New York City due to health and safety concerns for the potential spread of COVID-19 and the associated state of emergency declaration in New York. The company […]
Mobile Pipeline Order For TITAN®XL Modules
(Hexagon, 9.Mar.2020) — Hexagon Mobile Pipeline, a business of Hexagon Composites, has been awarded an order for TITAN® XL modules with an estimated value of $1.7 million from a leading gas distributor in Mexico. Hexagon’s Mobile Pipeline® modules will transport compressed natural gas (CNG) to industrial operations and gas island […]
Oil Price Plunge Ramps Up Pressure On Pemex
(Reuters, 9.Mar.2020) — A crash in crude prices has intensified pressure on the finances of Mexican state oil firm Petroleos Mexicanos (Pemex), which is facing the threat of a ratings downgrade after posting one of its worst-ever losses last year. Mexican President Andres Manuel Lopez Obrador took office 15 months […]
Oil Price Rout May Trigger Major Shake-up: Woodmac
(WoodMac, 9.Mar.2020) — As global markets reel in the wake of the oil price crash, Wood Mackenzie’s Tom Ellacott said: “The price collapse could be the trigger for a new phase of deep industry restructuring – one that rivals the changes seen in the late-1990s. Ellacott, senior vice president, corporate […]
As Guyana Elections Remain Up In The Air
(News America, 8.Mar.2020) — As tension continues in Guyana one week after its general elections and a top court upheld an injunction blocking the elections commission from proclaiming a winner amid fraud accusations, a non-profit environment and rights campaign group, is accusing the World Bank of engaging in conflict of […]
Mariela Poleo To Head Simón Bolívar Foundation
(Citgo, 8.Mar.2020) — Citgo Petroleum Corporation announced the appointment of Mariela Poleo as President of the Simón Bolívar Foundation (SBF), the company’s non-profit, private foundation dedicated to catalyzing organizations and resources to meet the humanitarian needs of Venezuelans and Venezuelan refugees. As president, she will oversee all facets of SBF, […]
Guyana Court Halts Release Of Election Results
(Reuters, 8.Mar.2020) — Guyana’s top court on Sunday upheld an injunction blocking the elections commission from proclaiming a winner in this month’s presidential election, delaying the results of a vote that has been marred by accusations of fraud. A protester was killed and demonstrators took to the streets after diplomats […]
Venezuela Moves To Arrest Numerous Oil Workers
(Energy Analytics Institute, Piero Stewart, 7.Mar.2020) — Venezuela’s government has arrested numerous oil sector workers for presumably providing confidential information to the US government as well as participating in fuel smuggling activities, according to state oil company PDVSA. The arrested persons include the following: On 28 February 2020, two managers […]
New Commission To Safeguard PDVSA’s Interest
(Energy Analytics Institute, Piero Stewart, 7.Mar.2020) — Venezuela has established a new Presidential Commission which aims to defend and safeguard the interest of state oil company Petróleos de Venezuela Sociedad Anónima (PDVSA). Part of the agenda of the Venezuelan government, with the new commission, is to advance the revolutionary restructuring […]
Barbados PM Mottley On Guyana Elections
(Barbados PM Office, 7.Mar.2020) — The Caribbean Community calls on the electoral officials in Guyana and the representative political parties to work together to achieve a peaceful and lawful completion of the electoral process in Guyana by ensuring the tabulation of the results in all Regions using the Statement of […]
Venezuela Detains Over 30 PDVSA Workers
(Reuters, 7.Mar.2020) — At least 38 workers from Venezuela’s state oil company Petroleos de Venezuela’s, including the president of maritime subsidiary PDV Marina, were detained on accusations of trafficking fuel, Venezuelan Interior Minister Nestor Reverol said on Saturday, describing the accusations as “treason.” The move comes just days after other […]
Is 2020 The Year For Regime Change In Venezuela?
(FT, 7.Mar.2020) — There have been enough false dawns in Venezuela to deter any confident predictions but a series of developments — all energy related — suggest that 2020 could be the year when regime change might actually occur and the country could begin to resume its role at the […]
Jason Carter Speaks To Media In Guyana
(Energy Analytics Institute, Ian Silverman, 6.Mar.2020) — The Carter Center’s Jason Carter speaks to media in Guyana on 6 March 2020 regarding that country’s elections 2 March 2020 and issues regarding the vote counting process. *** © Energy Analytics Institute (EAI)
Joint Statement From Int’l Observers In Guyana
(The Carter Center, 6.Mar.2020) — The international observer missions from the Commonwealth, the Organization of American States, the European Union, and The Carter Center issue the following statement: The tabulation of results for the election in Region 4 was interrupted and remains incomplete. The law requires that tabulation must be […]
YPF SA Q4 2019 Earnings Call Transcript
(Motley Fool, 6.Mar.2020) — YPF earnings call for the period ending December 31, 2019. Operator Good morning and welcome to the Fiscal Year End Fourth Quarter 2019 YPF SA Earnings Conference Call. My name is Brandon and I’ll be your operator for today. [Operator Instructions]. I will now turn the […]
Petrobras Cuts Bolivia Gas Offtake By 30pc
(Argus, 6.Mar.2020) — Brazil’s state-controlled Petrobras signed an agreement with its Bolivian counterpart YPFB to reduce its natural gas offtake to 20mn m³/d from 30mn m³/d, clearing the way for the Bolivian company to sign contracts directly with clients in Brazil. Today’s agreement modifies a 1999 contract for 30mn m³/d […]
US Eying Not Renewing Chevron’s Venezuela Waiver
(Reuters, 6.Mar.2020) — The U.S. government is preparing to impose new measures as soon as next week to stifle Venezuela’s oil exports, including a move not to renew Chevron Corp’s license to do business with state-run company PDVSA, sources familiar with the matter said. The United States imposed harsh sanctions […]
Echo Energy Extends Existing £1mn Loan
(Echo, 6.Mar.2020) — Echo Energy, the Latin American focused upstream oil and gas company, provides an update on production and operations following the Company’s recent acquisition of a 70% non-operated working interest in the Santa Cruz Sur assets, onshore Argentina. The Company also announces a two-year extension to the Company’s […]
Petrobras Releases Teaser For Colombian Assets
(Petrobras, 6.Mar.2020) — Petrobras has started the opportunity disclosure stage (teaser), referring to the sale of its fuel and lubricant distribution and marketing businesses in Colombia. This project aims to sell 100% of the shares held by Petrobras International Braspetro B.V. (PIB BV) and other Petrobras subsidiaries, in Petrobras Colombia […]
Oil Bonanza Plunges Guyana Into Political Crisis
(The New York Times, 5.Mar.2020) — The discovery of an enormous oil deposit off the coast of Guyana was meant to catapult this tiny country into the top echelons of petroleum producers and put its citizens on the path to better lives. Instead, it has deepened the historical tensions shackling […]
Granger Says Ready To Serve Five More Years As President
(Reuters, 5.Mar.2020) — Guyanese President David Granger on Thursday told supporters his coalition was ready to serve five more years in office following the country’s presidential election on Monday. Opposition leaders have cried fraud and diplomats from the United States and European Union questioned part of the results of the […]
Frontera Announces Quarterly Dividend
(Frontera, 5.Mar.2020) — Frontera Energy Corporation announced that its Board of Directors has declared a dividend of C$0.205 per common share, which will be paid on or about April 16, 2020 to shareholders of record at the close of business on April 2, 2020. This dividend represents a 2.7% yield […]
Frontera Reports 4Q:19 And Year End 2019 Results
(Frontera, 5.Mar.2020) — Frontera Energy Corporation released its Consolidated Financial Statements, Management Discussion and Analysis (“MD&A“), Annual Information Form (“AIF“) and Form 51-101 F1 – Statement of Reserves Data and Other Oil and Gas Information for the Company (the “F1 Report“) for the year ended December 31, 2019. These documents, […]
AMLO Says New Energy Plan Could Be Ready In March
(Reuters, 5.Mar.2020) — Mexico’s President Andres Manuel Lopez Obrador said on Thursday the country’s new energy plan could be ready within 10 days, and the government was analysing proposals by the private sector for joint energy investments. Mexico has pursued a more state-led approach to the energy sector under Lopez […]
Guyana Elects Leader As Vast Oil Boom Dawns
(AP, 4.Mar.2020) — Guyana voted for a new government on Monday in a bruising fight for control of a tiny South American country whose oil revenues in the next decade could make it one of the wealthiest in the hemisphere. A consortium comprised of ExxonMobil and partners, Hess Oil of […]
Total Eyes $3.34B Investment In Brazil Oil And Gas
(Seeking Alpha, 4.Mar.2020) — Total expects to invest 15B reais ($3.34B) in Brazil’s oil and gas industry over the next five years, according to a report in a Brazilian newspaper. Total head of E&P Arnaud Breuillac told Valor Econômico the company plans to spend $600M-$700M/year through 2024 with the aim […]
Cryopeak LNG Completes Largest Ever Delivery of LNG
(Cryopeak LNG Solutions Corporation, 3.Mar.2020) — Cryopeak LNG Solutions Corporation, based in Richmond BC, has completed the largest ever North American delivery of liquefied natural gas (LNG) by truck, with the shipment going to power the Silvertip mine on the Yukon/BC border owned by Coeur Silvertip Holdings Ltd., a subsidiary of Coeur […]
Atlas And DNB Issue Solar PV Bond In Latin America
(Atlas, 3.Mar.2020) — Atlas Renewable Energy, and DNB Markets announced the issuance of a $253 million US private placement (“USPP”) in Green Bond format. The notes were rated investment grade (BBB-) by Fitch Rating (including the construction period of one of the projects) and were issued by subsidiaries of Atlas […]
Parker Drilling Reports 2019 Fourth Quarter Results
(Parker, 3.Mar.2020) — Parker Drilling Company announced results for the fourth quarter ended December 31, 2019, which included a net loss of $2.1 million, or a $0.14 loss per share on revenues of $156.3 million. Fourth quarter Adjusted EBITDA was $25.9 million (Note 1). Michael W. Sumruld, the Company’s Senior […]
Atlas Renewable, DNB Markets Issue Solar PV Bond
(Atlas, 3.Mar.2020) — Atlas Renewable Energy, and DNB Markets announced the issuance of a $253m US private placement (“USPP”) in Green Bond format. The notes were rated investment grade (BBB-) by Fitch Rating (including the construction period of one of the projects) and were issued by subsidiaries of Atlas Renewable […]
Parker Drilling To Host Conference Call
(Parker, 3.Mar.2020) — Parker Drilling Company has scheduled a conference call for 10:00 a.m. Central Time (11:00 a.m. Eastern Time) on Wednesday, March 4, 2020, to review reported results. The call will be available by telephone by dialing (+1) (412) 902-0003 and asking for the Parker Drilling Fourth Quarter Conference […]
Promigas Commissions New Gas Transportation Capacity
(Promigas, 2.Mar.2020) — Promigas has commissioned an infrastructure expansion project in order to transport natural gas from new deposits in the south of the Caribbean region. This expansion – as of today it is transporting 100 Mpcd – enables it to meet commitments taken on in 2019 to deliver a […]
Promigas guarantees energy security In Colombia
BOGOTA, COLOMBIA (By Promigas, 2.Mar.2020, Words: 440) — Because of the drought that has been affecting Colombia, reservoir levels have fallen this week to 44% of capacity, which represents a useful hydroelectric generation volume of almost 8,000 gigawatts per hour (GWh). An increase in thermal generation was therefore required, in […]
OPEC Statutes Roots Point To Caracas
(Energy Analytics Institute, Piero Stewart, 2.Mar.2020) — In Caracas, and by unanimous decision of the founding member of the Organization of Petroleum Exporting Countries (OPEC) under the leadership and vision of the Venezuelan Juan Pablo Pérez Alfonso, the organization adopted its statute at its second meeting held in January 1961. […]
Frontera Extends Deal With PeruPetro
(Frontera, 2.Mar.2020) — Frontera Energy Corporation has executed a six-month extension agreement with Perupetro S.A. with respect to the temporary service contract on Block 192 in Peru. The contract, which was due to expire on March 2, 2020, has been extended to September 2, 2020. The extension will help sustain […]
Venezuela Arrests Officials For Giving US Oil Data
(AFP, 2.Mar.2020) — Venezuela said Monday it had arrested two officials from state oil company PDVSA for providing the US with “strategic and sensitive” details of its sanctions-hit oil operations. Alfredo Chirinos, the company’s special operations chief, and Aryenis Torrealba, PDVSA’s general manager of crude operations, were arrested on Friday, […]
Venezuela’s Oil Exports Rose Ahead Of Wind-down Date
(Reuters, 2.Mar.2020) — Venezuela’s oil exports rose 9% in February from the previous month, as some buyers rushed to take cargoes ahead of the expiration of a wind-down period as part of new U.S. sanctions on PDVSA and its trade partners, data from the state-run firm and Refinitiv Eikon showed. […]
Guyana Holds Crucial March Election
(Aljazeera, 2.Mar.2020) — Guyana’s economy is expected to be transformed by oil and gas discovered off the poor South American country’s shores. Voters in Guyana will head to the polls on Monday in a crucial election that will decide which party oversees an oil boom that is expected to transform […]
Ecopetrol Restricts Travel To Asia And Europe
(Reuters, 2.Mar.2020) — Colombia’s state-run oil company Ecopetrol SA placed restrictions on business travel to all Asian and European countries on Monday in response to the coronavirus outbreak, its chief executive told Reuters. The company is closely monitoring the effects of the virus on crude demand, Chief Executive Felipe Bayon […]
Venezuela’s Maduro Announces PDVSA Shake Up
(Energy Analytics Institute, Piero Stewart, 29.Feb.2020) — Venezuela’s President Nicolas Maduro revealed key executive changes within state oil company Petroleos de Venezuela (PDVSA) in an announcement published in the country’s Official Gaceta dated 28 February 2020. The new appointments approved by the president include: — Erwin Enrique Hernández Hernández, named […]
Petroboscán Advancing With Materials Warehouse
(Energy Analytics Institute, Piero Stewart, 29.Feb.2020) — The Petroboscán joint venture, which partners Venezuelan Petroleum Corporation (CVP) and Chevron Corp., is advancing with a management and optimization project related to a materials warehouse in the Boscán field, located in the municipality of La Cañada de Urdaneta in Zulia state. Activities […]
Opinion: Can Venezuela’s Oil Sector Ever Recover?
(IAD, 28.Feb.2020) — At the dawn of the 1920s, Venezuela had drilled its first oil wells and was just two years away from the eruption of almost a million barrels of oil from the Barroso No. 2 well on the shores of Lake Maracaibo — an event that would amplify […]
Citgo Says Gerd Knutsen Released From Seizure
(Citgo, 28.Feb.2020) — Citgo Petroleum Corporation confirms that the Gerd Knutsen and its crew have safely reached international waters, and that the Company intends to pursue the Maduro regime, and any entities that may have assisted it, for unlawful seizure of its cargo. BACKGROUND ON CITGO GERD KNUTSEN SEIZURE Citgo […]
Colbún Reports Expiration Date Of Tender Offer
(Colbún, 27.Feb.2020) — Colbún, S.A., a publicly traded stock corporation (sociedad anónima abierta) organized under the laws of the Republic of Chile (the “Company”), announced that it is extending the expiration date of its previously announced tender offer (the “Tender Offer”) to purchase for cash any and all of its […]
Sempra Energy Reports Strong 2019 Results
(Sempra, 27.Feb.2020) — Sempra Energy reported full-year 2019 earnings of $2.1 billion, or $7.29 per diluted share, up from $924 million, or $3.42 per diluted share, in 2018. On an adjusted basis, the company’s full-year 2019 earnings were $1.9 billion, or $6.78 per diluted share, compared to $1.5 billion, or […]
Pemex Posts Steep 2019 Loss In Blow To AMLO’s Plan
(Reuters, 27.Feb.2020) — Petroleos Mexicanos posted a $18.3 billion net loss for 2019 on Thursday, nearly doubling the previous year’s loss and dealing a major blow to the Mexican president’s quest to revive the heavily-indebted state oil company. The company known as Pemex said it had racked up a $9 […]
Make The Future Returns For Shell Eco-Marathon
(Shell, 27.Feb.2020) — Shell Oil Company, in conjunction with Sonoma Raceway and Speedway Motorsports, announced Make the Future Live California featuring Shell Eco-marathon Americas will return to Sonoma Raceway as the 2020 competition venue from April 1-4, 2020. Shell Eco-marathon is a global academic program – with regional events in […]
Coronavirus’ Greatest Upstream Impact: On Prices
(WoodMac, 27.Feb.2020) — The upstream oil and gas sector’s biggest commercial fear from the Coronavirus (COVID-19) epidemic is its impact on demand and prices. Only a small proportion of global supply comes from the worst-affected regions. Manufacturing shutdowns and shipping bottlenecks are causing project delays. Vessels and other large components […]
Sempra Energy Declares Dividends
(Sempra, 25.Feb.2020) — Sempra Energy’s board of directors has declared a $1.045 per share quarterly dividend on the company’s common stock, which is payable April 15, 2020, to common stock shareholders of record as of March 20, 2020. The declared quarterly dividend represents an 8% increase to the company’s common […]