(US Treasury, 24.Sep.2019) â On September 24, the United States designated four companies that operate in Venezuelaâs oil sector as sanctioned, and identified as blocked property four vessels associated with this activity. This action further targets Venezuelaâs oil sector and the mechanisms used to transport oil to NicolĂĄs Maduroâs Cuban […]
SiderĂșrgica MutĂșn To Have A 105MW Power Station
(Energy Analytics Institute, Ian Silverman, 24.Sep.2019) â Boliviaâs SiderĂșrgica del MutĂșn steel plant, located in the municipality of Puerto SuĂĄrez in the province of GermĂĄn Busch in Santa Cruz, will have a 105 megawatt (MW) power capacity. The project, awarded to Chinaâs Sinosteel Equipment & Engineering, will require an investment […]
Maduro Hopes Putin Will Offer More Than Words
(FT.com, Michael Stott and Henry Foy, 24.Sep.2019) â Threats of military invasion, sweeping economic sanctions, people power, recognition of a rival government, even an attempted uprising â the US has tried almost everything to topple NicolĂĄs Maduro. But Venezuelaâs revolutionary socialist president is still clinging to power after six years, […]
Four Colombia fracking Projects Could Attract $5bn In Yearly Investments
(Reuters, 24.Sep.2019) â Four fracking pilot projects in Colombia could bring in $5 billion annually in investment once they are in the production phase, industry leaders said on Tuesday, as the country awaits regulation that will allow the projects to begin. The potential use of fracking in the Andean country […]
Cuba Wonât negotiate On Venezuela, But Russia Might
(Miami Herald, Nora GĂĄmez Torres and Michael Wilner, 24.Sep.2019) â Moscow has maintained communication with members of the Venezuelan opposition even as the Cuban government plans on âgoing down with the shipâ alongside NicolĂĄs Maduro, a senior Trump administration official said on Tuesday. In an interview with the Miami Herald […]
Petrobras Stockpiles LSFO In Malaysia, Singapore
(Argus, 24.Sep.2019) â Petrobras has begun stockpiling low-sulphur fuel oil in Malaysia and Singapore as the 1 January start date approaches for new global marine fuel sulphur regulations. Petrobras is not a registered bunker supplier in Singapore, the biggest bunkering port in the world, but its trading office in Singapore […]
JinkoSolar To Supply 300 MW To Project In Spain
(JinkoSolar, 24.Sep.2019) â JinkoSolar Holding Co., Ltd. signed a module supply contract with METKA EGN, a world-class EPC contractor, for 300 MW of JinkoSolar’s ultra-high efficiency Cheetah modules to be installed at a large-scale solar power plant in the municipality of TalavĂĄn, CĂĄceres, Spain (the “Talasol Project”). “Cheetah modules are […]
Maduro Plots Assembly Grab, Oil-For-Food Floated
(Argus, 24.Sep.2019) â Venezuelan opposition leader Juan Guaido’s constitutional claim to the Opec country’s interim presidency could be undermined by today’s tumultuous return of the governing United Socialist Party (PSUV) to the National Assembly. Over 50 elected PSUV deputies entered the legislative chamber this morning for the first time since […]
GeoPark Finds Oil In Colombiaâs Llanos 34 Block
(GeoPark, 23.Sep.2019) â GeoPark Limited announced the discovery of the new Guaco oil field in the Llanos 34 block (GeoPark operated, 45% WI) in Colombia. GeoPark drilled and completed the Guaco 1 exploration well located along the third and most western major fault trend in the Llanos 34 block. This […]
OWTU To Buy Petrotrin Refinery
(Argus, 23.Sep.2019) â Trinidad and Tobago’s government agreed to sell its mothballed 160,000 b/d Pointe-a-Pierre refinery to a company partly owned by the oil workers’ union. Finance minister Colm Imbert confirmed the $700mn sale to Pet, a firm created by the labor group OWTU in December 2018 as a special […]
Unit Serving Petrobras Halted Due To Regulatory Issues
(Reuters, 23.Sep.2019) â An oil production unit supporting the operations of Brazilian state-controlled oil firm Petroleo Brasileiro SA has been paralyzed since Sept. 19 due to regulatory issues, the operator, Modec, told Reuters on Monday. The nature of the previously unreported irregularities was not immediately clear. However, Modec said the […]
Yakaar-2 Well Confirms Resource Offshore Senegal
(Kosmos, 23.Sep.2019) â Kosmos Energy announced that the Yakaar-2 appraisal well has encountered approximately 30 meters of net gas pay in similar high-quality Cenomanian reservoir to the Yakaar-1 exploration well, continuing the 100 percent success rate of wells targeting the inboard Mauritania/Senegal gas trend. Yakaar-2 was drilled approximately nine kilometers […]
Pemex Says Debt Reduced By $5.0058bn
(Pemex, 23.Sep.2019) â Today, PetrĂłleos Mexicanos (Pemex) successfully finalized an early debt payment operation. This operation was announced on September 12, and consisted on using the capital received from the Federal Government to issue an offer to repurchase bonds with maturity in the next few years for an amount of […]
Petrobras Reports Mooring Incident At P-50
(Petrobras, 23.Sep.2019) â Petrobras reports that platform P-50, located in the Campos Basin, in the Albacora Leste field, had its production preemptively halted on Sunday night, due to the disruption of the mooring of the anchor system. Anchored by another 15 moorings, the platform is stable and safe, offering no […]
Jinkosolar Invited To UN Climate Action Summit 2019
(JinkoSolar, 23.Sep.2019) â JinkoSolar Holding Co., Ltd. has been invited to the UN Climate Action Summit 2019, which will be held at the UN headquarters in New York on September 23, 2019. To move forward on ambitious climate action globally, UN Secretary-General AntĂłnio Guterres has invited over 100 heads of […]
PDVSAâs Amuay Refinery Knocked Offline
(Argus, 20.Sep.2019) â A fire overnight disrupted limited operations at the 635,000 b/d Amuay oil refinery, the only one of Venezuelan state-owned PdV’s domestic crude-processing plants that has been functioning in recent months. The fire broke out shortly after lightning strikes that were blamed for causing a blackout on the […]
Petrobras Reports Advance Of Eletrobras Receivables
(Petrobras, 20.Sep.2019) â Petrobras entered into a Cession Agreement of Credit Rights, allowing the advance of about R$ 8.4 billion of receivables from Eletrobras, recognized in the Debt Assumption Agreements (IADs) referring to the totality of the debts confessed in 2014 by the Eletrobras Group, with original maturity until January […]
Diplomats Say Guyana Gov’t In Breach Of Constitution
(Reuters, 19.Sep.2019) â U.S. and European diplomats on Thursday declared Guyana’s government in breach of the country’s constitution until new elections are held and called on Guyanese President David Granger to “set an elections date immediately” or possibly face a cutoff of development funding. Guyana’s independent electoral body on Thursday […]
Pemex Personnel Takes Part In National Quake Drill
(Pemex, 19.Sep.2019) â For the commemoration of the National Civil Protection Day, management and operating personnel at various PetrĂłleos Mexicanos (Pemex) facilities in the country participated in the 2019 National Quake Drill, which worked with a hypothetic earthquake of 8.6 degrees Richter in magnitude, with an epicenter in the coastline […]
Argentinaâs Vaca Muerta Comparable to Permian Basin
(Energy Analytics Institute, 4.Sep.2019) â âThe massive Vaca Muerta formation is geologically comparable to the best US oil basins, particularly the Permian Basin in West Texas and southeastern New Mexico, and has the potential to join the ranks of the best oil plays in the world,â Exterran Vice President Federico […]
IFC And FRV Secure Financing For Potrero Solar
(IFC, 18.Sep.2019) â The International Finance Corporation (IFC), member of the World Bank Group, and Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy and a leading global developer of renewable utility-scale projects, has announced the financial close for Potrero Solar (296 MW dc), the company’s second solar farm […]
Petrobras Updates On Provisioning
(Petrobras, 18.Oct.2019) â Petrobras informs that, within its ongoing process of contingencies assessment, it will provision R$ 3.2 billion as a result of: (i) litigation involving the company Sete Brasil, (ii) environmental process in the state of ParanĂĄ; and (iii) disputes on special participation and royalties involving the National Agency […]
Qingdao McDermott Wuchuan Awarded Module Fabrication Contract
(McDermott, 17.Sep.2019) â McDermott International, Inc. announced that its joint venture Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd (QMW) in Qingdao, China, has been awarded a large* contract to provide three complex modules for the Arctic LNG 2 Project in the Yamal-Nenets Autonomous Region in Russia. “This award recognizes QMW’s […]
Sur de Texas Marine Pipeline Achieves Commercial Operation
(IMG, 17.Sep.2019) â Infraestructura Marina del Golfo (IMG), a joint venture between TC Energy Corporation (TC EnergĂa) and Infraestructura EnergĂ©tica Nova (IEnova), announced commencement of the commercial operation of the Sur de Texas-Tuxpan (Sur de Texas) marine natural gas pipeline. With a transportation capacity of 2.6 billion cubic feet per […]
Eco Atlantic Reports 2nd Oil Discovery Offshore Guyana
(Eco, 16.Sep.2019) â Eco (Atlantic) Oil & Gas Ltd. announces a second oil discovery on the Orinduik Block, offshore Guyana. The Joe-1 exploration well was drilled by the Stena Forth drillship to a final depth of 7,176 feet (2,175 meters) in approximately 2,546 feet (780 meters) of water. Evaluation of […]
Argentina Reinforces Security Of Vaca Muerta
(Reuters, 16.Sep.2019) â The Argentine government will step up security in the Vaca Muerta oil fields by placing the shale formation under the jurisdiction of the military police, the Ministry of Security said on Monday. Vaca Muerta is viewed as a key source of foreign exchange for ArgentinaÂŽs struggling economy […]
ExxonMobil Reports Tripeltail Find Offshore Guyana
(Exxon, 16.Sep.2019) â ExxonMobil made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block. Tripletail-1 encountered approximately 108 feet (33 meters) […]
Petrobras Maintains Prices
(Reuters, Gram Slattery and Marta Nogueira, 16.Sep.2019) â – Brazilian President Jair Bolsonaro and Petrobras said on Monday the oil firm was not planning to immediately raise fuel prices in response to the attack in Saudi Arabia, showing the state-run firm may be open to overlooking market pricing norms for […]
Petrobras’ P-68 Departs For BerbigĂŁo And Sururu fields
(Petrobras, 16.Sep.2019) â Petrobras reports that the P-68 platform left today the Jurong Aracruz Shipyard, heading to the BerbigĂŁo and Sururu fields, in the Santos Basin pre-salt. Production of these fields is expected to begin in the fourth quarter of 2019. In line with its 2019-2023 Business and Management Plan, […]
Petrobrasâ Private Exchange Offer Results
(Petrobras, 16.Sep.2019) â Petrobras announced the expiration and expiration date results of the previously announced offers to exchange (the âExchange Offersâ), by its wholly-owned subsidiary Petrobras Global Finance B.V. (âPGFâ), relating to seven series of its outstanding notes set forth in the tables below (the âOld Notesâ). The Exchange Offers […]
Petrobras Offers Clarification Of News
(Petrobras, 16.Sep.2019) â Petrobras reports that it received the Official Letter No. 830/2019-SLS, which requests the following clarification: Official Letter no. 830/2019-SLS âDear Gentlemen, In a news report published by the newspaper Valor EconĂŽmico, on 09/13/2019, under the title “Petrobras is studying to combine pre-salt gas pipelines and go public”, […]
Tullow Announces Joe-1 Oil Find Offshore Guyana
(Tullow, 16.Sep.2019) â Tullow Oil plc announces the Joe-1 exploration well has successfully opened a new Upper Tertiary oil play in the Guyana basin. The Joe-1 exploration well was drilled by the Stena Forth drillship to a Total Depth of 2,175 metres in water depth of 780 metres. Evaluation of […]
Petrobras Informs On Petrol Prices Due To Saudi Arabia Attacks
(Petrobras, 16.Sep.2019) â Petrobras informs that, due to the latest events in Saudi Arabia, it will carry on with its international market monitoring process. The company points out that, according to its current pricing practices, there is no pre-defined frequency for applying adjustments. Recognizing that the oil market is volatile […]
Petrobras’ Teasers For REGAP, REMAN, LUBNOR And SIX Refineries
(Petrobras, 13.Sep.2019) â Petrobras, following up on the releases disclosed on April 26, 2019 and June 28, 2019, reports the beginning of the opportunity disclosure stage (teasers) regarding the second phase of sale processes of downstream assets and associated logistics in Brazil, which includes: Gabriel Passos Refinery (REGAP) in Minas […]
LatAmNRG Bolivia Briefs: Morales Inaugurates 480MW Plant In Cochabamba
(Energy Analytics Institute, Ian Silverman, 12.Sep.2019) â LatAmNRG briefs related to Boliviaâs President Evo Morales inaugurating a 480 megawatt plant in Cochabamba and Morales saying Bolivia to produce 3,370 megawatts of energy in 2019. Morales Inaugurates 480MW Plant In Cochabamba (Energy Analytics Institute, Ian Silverman, 12.Sep.2019) â Boliviaâs President Evo […]
Petrobras’ Teaser For Amazonas Fields
(Petrobras, 13.Sep.2019) â Petrobras reports that it has started the opportunity disclosure stage (Teaser), regarding the sale of its interests in two onshore concessions, including outflow facilities, denominated CupiĂșba and CarapanaĂșba Cluster, located in the state of Amazonas. The Teaser, which contains key asset information and eligibility criteria for selection […]
Petrobras Reveals Staff Plan For Employees
(Petrobras, 13.Sep.2019) â Petrobras informs that it has approved a staff plan for employees allocated to assets/units in divestment process, which provides for three tools: Internal Recruitment, Termination by Mutual Agreement Procedure (PDA) and a Specific Voluntary Severance Program (PDV). The staff plan will be presented to the employees at […]
Petrobras Discloses Teaser For Onshore Fields
(Petrobras, 13.Sep.2019) â Petrobras reports that it has started the opportunity disclosure stage (Teaser), regarding the sale of its interests in two onshore concessions, including outflow facilities, denominated CupiĂșba and CarapanaĂșba Cluster, located in the state of Amazonas. The Teaser, which contains key asset information and eligibility criteria for selection […]
GeoPark Adds Four Brazilian Exploration Blocks
(GeoPark, 12.Sep.2019) â GeoPark Limited announced the expansion of its portfolio with four new exploration blocks in the Reconcavo and Potiguar basins in Brazil. GeoPark was preliminarily awarded the REC-T-58, REC-T-67, REC-T-77 and POT-T-834 blocks in the first cycle of the Permanent Offer held by Brazilâs National Agency of Petroleum, […]
Alaska Airlines Launches #FillBeforeYouFly
(Alaska Airlines, 12.Sep.2019) â Alaska Airlines today announced its #FillBeforeYouFly initiative to partner with guests and employees to continue reducing the use of single-use plastics inflight. The aim: rally with flyers to bring their own water bottle and fill it before they board. This is one of Alaska Airlines’ many […]
Pemex To Refinance Debt
(Pemex, 11.Sep.2019) â Pemex announced a series of measures intended to improve its financial condition. This operation considers a capital contribution from the Federal Government equivalent to 5 billion US dollars to be used for the prepayment of debt. In line with the strategy of strengthening the companyâs finances under […]
Daqo Inks Two-Year Deal With JinkoSolar
(Daqo, 11.Sep.2019) â Daqo New Energy Corp. signed a two-year polysilicon supply agreement with JinkoSolar Holding Co., Ltd., one of the largest and most innovative solar module manufacturers in the world. Under the terms of the supply agreement, Daqo New Energy will supply JinkoSolar with 12,000 to 14,400 MT and […]
Talos Energy Receives Extension For Block 7
(Talos, 11.Sep.2019) â Talos Energy Inc. announced that it has received a two-year contract term extension as well as regulatory approvals for additional exploration activities on Block 7, located in the offshore portion of Mexico’s prolific Sureste Basin. Talos is the operator of Block 7 in a consortium with its […]
Pemex Reveals Measures To Improve Financial Condition
(Pemex, 11.Sep.2019) â PetrĂłleos Mexicanos (Pemex) announced a series of measures intended to improve its financial condition. First, Pemex announced that it expects to receive a capital contribution (the “Capital Contribution”) in an amount in Mexican pesos equivalent to U.S. $5.0 billion from the Government of Mexico as part of the Government’s […]
CNPC Skips Venezuelan oil Loading For Second Month
(Reuters, Chen Aizhu, 10.Sep.2019) â China National Petroleum Corp (CNPC), a leading buyer of Venezuelan oil, will skip cargo loadings for a second month in September as the state oil giant looks to avoid breaching U.S. sanctions, two sources with knowledge of the matter said. CNPC made a surprise halt […]
Exec Suite: Chileâs Energy Minister Juan Carlos Jobet
(Chileâs Energy Ministry, 10.Sep.2019) â Jobet holds a degree in Commercial Engineering from the Universidad CatĂłlica and a masterâs degree in Business Administration and another in Public Administration from Harvard University. Between 2000 and 2010, he began his career in the corporate financial advising firm Asset Chile. In 2010, he […]
Colombia Court Maintains Fracking Moratorium
(Reuters, 10.Sep.2019) â Colombiaâs top administrative court maintained a temporary moratorium on the use of fracking on Tuesday, stymieing potential pilot projects amid ongoing arguments in a wider case regarding the use of the technique to extract oil and gas. The decision by three magistrates from the Council of State, […]
Protest In Peru Halt Fronteraâs Output
(Reuters, 10.Sep.2019) â Indigenous communities took control of a small airport and an oil pumping station in Peru to demand the government clean up pollution, halting production at an oil block operated by Frontera Energy Corpâs, a tribal chief said on Tuesday. Protesters in the Amazonian region of Loreto want […]
Petrobras Finishes Maromba Field Divestment
(Petrobras, 10.Sep.2019) â Petrobras, following up on the release dated 03/08/2019, concluded the sale of its 70% interest in the Maromba field, located in shallow waters in the Campos Basin, to BW Offshore Production do Brasil Ltda. (âBWOâ). The transaction was completed with the payment of the first installment of […]
Rosneft Issues Statement On Venezuela
(Rosneft, 10.Sep.2019) â In connection with statements by US special envoy Elliott Abrams, Rosneft reaffirms its position regarding the Company’s operations in Venezuela. Rosneft is an investor in the oil and gas sector of Venezuela and has been such long before the introduction of US sanctions against Venezuela. Accordingly, any […]