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Trinidad’s Petro Chaos

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(TT Newsday, 19.Dec.2019) — Our fuel subsidy gobbles hundreds of millions that could be spent on improving the country and distorts the economy. It is time we scrapped the remaining fuel subsidy and lift the restrictions on fuel retailers that prevent them from importing fuel or setting its price. We […]

Peru Deploys Army To Safeguard Strategic Gas Line

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(Argus, 19.Dec.2019) — Peru’s government has deployed army troops to safeguard a jungle stretch of the Camisea natural gas and gas liquids pipelines from potential attacks under a 60-day emergency declaration. The lines are critical to Peru’s LNG and LPG export businesses, which are operating normally. The emergency measure covers […]

Braskem Selects CenturyLink For Global Operations

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(Braskem, 18.Dec.2019) — Braskem, the largest thermoplastics resins producer in the Americas and leading producer of biopolymers in the world, selected global technology provider CenturyLink, Inc. to deliver a global SD-WAN network solution to more than 50 of its locations across Latin America, North America, Europe and Asia. This SD-WAN network […]

Pemex’s Emergency Drill At Dos Bocas Terminal

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(Energy Analytics Institute, Jared Yamin, 18.Dec.2019) — Mexico’s state oil company Petroleos Mexicanos (Pemex) announced plans to conduct an emergency exercise as part of its annual efforts related to emergency prevention and responses. The emergency exercise — to be held Thursday 19 December 19, at 10 a.m. — will involve […]

Petrobras To Pay Shareholder Remuneration

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(Petrobras, 18.Dec.2019) — Petrobras announced its Board of Directors, at a meeting held 18 Dec., approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,352,827,349.18, corresponding to R$ 0.42 per outstanding preferred share. The payment will be made on February […]

Petrobras Joins Tax Programs

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(Petrobras, 18.Dec.2019) — Petrobras, under the scope of its ongoing contingency assessment process, decided to join the Programs for Partial Tax Remission and Interest and Fine Reduction on VAT (ICMS) Debt established by the states of Amazonas, Alagoas, Bahia, Pernambuco, Rio Grande do Sul and Sergipe. The tax debts included […]

Petrobras Seeks Alternatives For Comperj

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(Petrobras, 18.Dec.2019) — Petrobras has completed the economic feasibility study regarding the completion of the Comperj refinery construction, together with the Chinese company CNPC and its affiliates, under the agreements to implement the strategic partnership, as disclosed to the market on October 16, 2018. The study showed that the completion […]

PDVSA Completes Termobarrancas Maintenance

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(Energy Analytics Institute, Piero Stewart, 18.Dec.2019) — Venezuela’s state oil company PetrĂłleos de Venezuela (PDVSA) carried out major maintenance at the 100-megawatt turbo combustion generator at the Termobarrancas Electric Generation Plant, located in the Obispos municipality of Barinas state. PDVSA also incorporated the 30-megawatt Santa InĂ©s Plant located in the […]

Minerva Bunkering Acquires CEPSA Panama SA

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(Minerva, 17.Dec.2019) — Minerva Bunkering (Pte) Ltd purchased 100% of the share capital of CEPSA Panama SA from Compañía Española se PetrĂłleos, S.A for an undisclosed amount. “As one of the shipping industry’s great transit points, Panama is another key location where Minerva can add value to its customer base […]

Petrobras Starts Sergipe Alagoas Basin Binding Phase

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(Petrobras, 17.Dec.2019) — Petrobras, following up on the release disclosed on 11/01/2019, started the binding phase referring to the sale of its interest in fifteen onshore exploratory blocks, located in the Sergipe-Alagoas Basin.  Qualified parties for this phase will receive a process letter with instructions on the divestment process, including […]

Petrobras Announces E&P Asset Binding Phase

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(Petrobras, 17.Dec.2019) — Petrobras, following up on the release disclosed on 11/01/2019, announces that it has started the binding phase referring to the sale of its interest in fifteen onshore exploratory blocks, located in the Sergipe-Alagoas Basin. Qualified parties for this phase will receive a process letter with instructions on […]

Atlas Says Fourth Brazilian Plant In Operation

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(Atlas, 17.Dec.2019) — Atlas Renewable Energy, a leader in clean energy across Latin America, announces that its fourth project in Brazil, SertĂŁo Solar Barreiras Complex, is fully operational. The plant has an installed capacity of 117MWp (megawatts peak) and will generate an estimated 275 GWh yearly. Located in Barreiras, state […]

Damages Awarded To Perenco For FET Breach In Ecuador

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(Institutional Institute for Sustainable Development, 17.Dec.2019) — A long-standing tribunal under the France–Ecuador BIT has issued its final award on compensation. The award orders Ecuador to compensate oil and gas investor Perenco Ecuador Limited (Perenco) almost USD 449 million for Ecuador’s imposition of a 99 per cent windfall profit tax […]

Sinopec, EIG Deliver Bid For Petrobras Refinery

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(Reuters, 17.Dec.2019) — China’s Sinopec and U.S.-based EIG Global Energy Partners have delivered non-binding offers to buy Brazilian refinery REGAP from state-run oil firm Petrobras, three people with knowledge of the matter said. With a processing capacity of 150,000 barrels per day, REGAP is the fifth-largest refinery of eight up […]

YPFB Fundamental For Bolivia Gas Supply

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(Energy Analytics Institute, Ian Silverman, 17.Dec.2019) — Bolivia’s Hydrocarbon Minister VĂ­ctor Hugo Zamora said the new team at state oil company YPFB will be fundamental in negotiations related to expansion of a natural gas supply contract addendum with Brazil’s state controlled Petrobras that will allow Bolivia to continue exporting gas […]

YPFB President To Provide Company Update

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(Energy Analytics Institute, Ian Silverman, 17.Dec.2019) — YPFB President Herland Javier Soliz Montenegro announced plans to provide an update on the status of company’s entire production chain within three months. In an official statement 17 Dec. from YPFB, Soliz said the state oil company continues to operation and guarantee mainly […]

Zamora Says ‘YPFB In Good Health’

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(Energy Analytics Institute, Ian Silverman, 17.Dec.2019) — Bolivia’s Hydrocarbon Minister Victor Hugo Zamora announced that the country’s state oil company YPFB was a healthy company. “YPFB is in good health,” Zamora announced 17 Dec. in an official ministry statement. *** © Energy Analytics Institute (EAI)

Ecopetrol To Pay $1.1bn Extraordinary Dividend

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(Energy Analytics Institute, Piero Stewart, 16.Dec.2019) — Colombia’s state oil company Ecopetrol announced plans to pay a $1.1 billion extraordinary dividend in December. The dividend of $89 Colombian pesos per share will be paid to the Bogota-based company’s 41.1 billion shareholders, Ecopetrol announced 16 Dec. in an official statement. The […]

Quality Testing Guyana’s First 3 MMbbls

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(Demerara Waves, Denis Chabrol, 16.Dec.2019) — The Ministry of the Presidency’s Department of Energy denied breaching the procurement process for sale of Guyana’s first three million barrels of oil aimed at what officials say is the removal of impurities and setting of standard for Guyana to get the best price […]

Petrobras Prepays $5bn CDB Loan

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(Petrobras, 16.Dec.2019) — Petrobras, following up on the press release disclosed on August 14, 2019, prepaid a $5 billion loan with China Development Bank (CDB), due in 2027.  This prepayment will lead to the termination of the obligation to preferentially supply, under market conditions and for the term of financing, […]

Total Advances Two Deepwater GOM Projects

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(Total, 16.Dec.2019) — Total announces the final investment decision (FID) to develop the Anchor oil field. Additionally, front-end engineering and design (FEED) has begun for the North Platte discovery. Both projects are located in the deepwater U.S. Gulf of Mexico, off the coast of Louisiana. FID for Anchor Project Total […]

Soliz Named As YPFB’s New President

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(Energy Analytics Institute, Ian Silverman, 16.Dec.2019) — Petroleum engineer Herland Javier Soliz Montenegro was named the new president of Bolivia’s state oil company YPFB, replacing engineer JosĂ© Luis Rivero. Soliz will take over efforts to guarantee the normal supply of natural gas to Bolivia’s domestic market and consolidate exports to […]

Guyana Seeks Buyers For Govt’s Oil Output Share

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(Reuters, 15.Dec.2019) — Guyana has invited companies interested in purchasing the first three deliveries of the government’s share of the country’s looming oil production to present bids this week, the government said in a statement on Sunday. The government will later seek proposals from companies interested in a longer-term contract […]

BNDES Evaluates Sale Of Its Petrobras Shares

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(Petrobras, 13.Dec.2019) — Petrobras received correspondence from Banco Nacional de Desenvolvimento EconĂŽmico e Social (BNDES), in which it communicates the intention to evaluate the sale up to the totality of common shares issued by Petrobras in its ownership, through a secondary public offering of shares with broad distribution efforts in […]

Esteban Kiper Appointed GM At CAMMESA

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(Energy Analytics Institute, Aaron Simonsky, 12.Dec.2019) — Mr. Esteban Kiper was appointed as General Manager of the Electric Market Management Company or CAMMESA, during an ordinary assembly chaired by Argentina’s Energy Secretariat Sergio Lanziani. “I am a representative of the provinces and I invite all actors in the electricity sector […]

S&P Ups Petrobras’ Global Scale Outlook

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(Petrobras, 12.Dec.2019) — Petrobras said rating agency S&P Global Ratings (S&P) raised the company’s global scale outlook from stable to positive, and maintained its corporate debt rating at “BB-“. Yesterday, the agency revised the outlook on its long-term rating on Brazil to positive, reflecting prospects for an upgrade in the […]

Petrobras’ Teaser For TAG Stake Divestment

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(Petrobras, 11.Dec.2019) — Petrobras started the opportunity disclosure stage (teaser), relating to the sale of its remaining stake (10%) in Transportadora Associada de GĂĄs S.A. (TAG). The teaser, which contains key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on the […]

Petrobras On TOR Amendment

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(Petrobras, 11.Dec.2019) — Petrobras following up on the release dated November 1, 2019, informs that, in alignment with its cash management strategy and in accordance with the provisions of the Amendment Term to the Transfer of Rights Agreement, paid to the Federal Government the amount of R$ 34.420 billion (thirty-four […]

PDVSA Perks Include Yoga And Guitar Lessons

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(Bloomberg, Peter Millard and Fabiola Zerpa, 11.Dec.2019) — Workers are starving, equipment is crumbling and output is languishing near record lows at Venezuela’s state oil producer. Yet yoga, guitar and dance lessons continue. Petroleos de Venezuela SA’s cultural arm is offering those classes to all employees along with workshops on […]

Bolivia’s VPACF Gets New VP

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(Energy Analytics Institute, Ian Silverman, 10.Dec.2019) — Forestry Engineer Marcelo Ayala Torrez was named the new Vice President of Bolivia’s Contract and Control Administration (VPACF by its Spanish acronym). Ayala graduated from the Juan Misael Saracho University, and also holds a master’s degree in environmental studies obtained from the Gabriel […]

Ecopetrol Tapped For Emergency $1bn

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(Forbes, Dylan Baddour, 10.Dec.2019) — As protesters continue to push demands in Colombia, the government here has asked its oil company, Ecopetrol S.A., for a billion-dollar dividend to cover its commitments. The combination of planned tax cuts for corporations, plus new tax cuts and for low income earners offered to […]

Talos Announces GOM Acquisition

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(Talos, 10.Dec.2019) — Talos Energy Inc. entered into a series of definitive agreements to acquire a broad portfolio of U.S. Gulf of Mexico producing assets, exploration prospects and acreage from affiliates of ILX Holdings, Castex Energy and Venari Resources for $640 million as of the effective date. Specifically, Talos has […]

EOG Resources Declares Quarterly Dividend

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(EOG, 10.Dec.2019) — The Board of Directors of EOG Resources, Inc. declared a dividend of $0.2875 per share on EOG’s Common Stock, payable 31 January 2020, to stockholders of record as of 17 January 2020. The indicated annual rate is $1.15. ***

Argentina’s Shale Boom Hits New Milestone

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(Oilprice.com, Irina Slav, 10.Dec.2019) — YPF, the Argentine state energy company, has drilled the longest horizontal oil well lateral, at 3,890 meters, or more than 12,700 feet, in the Vaca Muerta shale play, S&P Global Platts reports, citing a source close to the company. The record-breaking lateral—the horizontal part of […]

Venezuela Oil Output Rises

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(Reuters, 10.Dec.2019) — Venezuela’s crude output in November jumped more than 20% from the prior month to the highest level since the United States tightened sanctions on state oil company PDVSA in August, two people with knowledge of PDVSA data said this week. November output averaged between 926,000 barrels-per-day (bpd) […]

Petrobras To Lease LNG Regasification Terminal

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(Petrobras, 9.Dec.2019) — Petrobras, in accordance with the commitments made through the Agreement, signed with the Administrative Council for Economic Defense (CADE), on July 8, 2019, informs that it is starting the process of leasing the LNG Regasification Terminal of Bahia (TR-BA), at Salvador/BA, and its integrated pipeline. Thus, the […]

Petrobras To Lease Out LNG Terminal

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(Argus, 9.Dec.2019) — Brazilian state-controlled Petrobras has started pre-qualifying bidders for a long-term lease of its 20mn mÂł/d Bahia LNG import terminal and associated pipeline, opening the company’s lock on Brazil’s LNG imports. Petrobras said the planned terminal lease aligns with its July 2019 agreement with anti-trust regulator Cade to […]