(WoodMac, 27.Aug.2019) — Speaking after BP announced the sale of its Alaska business to Hilcorp in a US$5.6 billion deal, Wood Mackenzie analyst Rowena Gunn said: “The Majors are making progress with their divestment campaigns. This will mean long-held assets and territories will be let go. BP made such a […]
Petrobras Updates On FPSO Rio de Janeiro Leak
(Petrobras, 26.Aug.2019) — Petrobras, following the press release disclosed today, informs that the company Modec has reported that a new overflight has found oil on the sea, with an estimated volume of 6.6 cubic meters, in addition to the 1.2 cubic meter leakage identified and now collected. Seven collection and […]
Petrobras Refinery Sale Draws PetroChina
(Reuters, Tatiana Bautzer and Rodrigo Viga Gaier, 26.Aug.2019) — Brazil’s planned privatization of eight Petroleo Brasileiro SA refineries has lured several of the world’s largest trading and oil companies as prospective bidders, two sources with knowledge of the matter said. Around 20 companies have signed non-disclosure agreements granting them access […]
Petrobras Clarifies News In ‘Folha de São Paulo’
(Petrobras, 26.Aug.2019) — Petrobras reports that it received the Official Letter No. 269/2019/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No 269/2019/CVM/SEP/GEA-1 “Dear Executive Officer, 1. We refer to the news published today, in the newspaper ‘Folha de São Paulo’, ‘Poder’ section, under the title: “‘Press commits suicide and is […]
Oil Chairmen Meets Mgmt
(Trinidad Express, 26.Aug.2019) — Trinidad Petroleum Holdings Ltd’s (TPHL) newly appointed chairman Michael Quamina said the company and its subsidiaries would continue working towards becoming sustainably profitable. Quamina and Newman George met with members of the TPHL management teams to get an overview of the operations and business update. Last […]
Citgo Petroleum Announces 2Q:19 Results
(Citgo, 26.Aug.2019) — The Board of Directors of Citgo Petroleum Corporation is pleased to report significant progress on top company goals. Following its appointment in February 2019, the Citgo Board outlined three main objectives for the company: improving financial and operational stability; protecting assets; and enhancing corporate governance. After only […]
SQM To Hold Investor Day In New York
(SQM, 26.Aug.2019) — SQM will hold an Investor Day in New York on September 10, 2019. Ricardo Ramos, Pablo Altimiras and Gerardo Illanes will present. ***
Trelleborg Awarded Fast Track Contract By MODEC For Eni Mexico Area 1 FPSO
(Trellebord, 24.Aug.2019) — Trelleborg’s offshore operation has been awarded a fast track contract to produce over 80 laminated elastomeric bearings for MODEC, the leading specialist for offshore floating solutions. The first delivery was in July 2019 and the bearings will be installed on a Floating Production Storage and Offloading (FPSO) […]
Bolivia’s Gas Exports Down 30.4% YTD Thru May
(Energy Analytics Institute, Ian Silverman, 24.Aug.2019) — A report by Bolivia’s National Institute of Statistics (INE by its Spanish acronym) published in July 2019 shows that between January and May external demand for Bolivia’s natural gas is down 30.4% compared to the same five-month period in 2018. Bolivian gas exports […]
Eco (Atlantic)’s Incentive Plan – Grant of RSUs
(Eco, 23.Aug.2019) — Eco (Atlantic) Oil & Gas Ltd. granted 3,000,000 Restricted Share Units to directors, officers and advisers, of which 2,900,000 are to existing Executives and Directors, pursuant to the company’s Restricted Share Units Plan (the “RSUs”) and in acknowledgment of the Company’s management’s recent achievements. The RSUs will […]
LatAmNRG Bolivia Briefs: Urea Deals, Gas Export Price
(Energy Analytics Institute, Jared Yamin, 23.Aug.2019) — LatAmNRG briefs related to Bolivia signing deals related to urea and household gas and Brazil’s ANP saying it expects Bolivian natural gas prices to fall by 36% once a bilateral deal between Bolivia and Brazil ends later this year. Bolivia Inks Urea, Household […]
Moody’s Ups Petrobras’ Stand-Alone Credit Profile
(Petrobras, 23.Aug.2019) — Petrobras informs that the rating agency Moody raised its stand-alone credit profile (SCP) by one notch to “ba2″ from ” ba3″ and affirmed the “Ba2“ corporate rating, with a stable outlook. Moody’s highlighted that the upgrade reflects Petrobras’ continued success in improving its credit metrics and liquidity […]
Petrobras Receives Binding Offers For Liquigás
(Petrobras, 23.Aug.2019) — Petrobras, in relation to the news reported in the media, clarifies that as part of the competitive process of divestment of its entire stake in Liquigás Distribuidora S.A. the consortium formed by Itaúsa, Copagaz and Nacional GásButano presented the best binding offer for the acquisition of this […]
Equinor Signs Deal With YPF
(Zacks Equity Research, 22.Aug.2019) — Equinor ASA recently announced the signing of a deal with the Argentine energy company, YPF Sociedad Anónima YPF, to jointly conduct exploration activities in the CAN 100 Block. The offshore prospect — acquired by YPF Sociedad in May — is located in the North Argentinian […]
Citgo Profits Hit By Fallout From Split-CEO
(Reuters, Marianna Parraga, 22.Aug.2019) — The two new top executives at Citgo Petroleum disclosed this week that net income in the second quarter slid to less than half its level a year earlier, hit by a broad slump for the refining industry as well as complications from U.S. sanctions on […]
TechnipFMC Inks GOM EPCI Contract For PowerNap
(Technip, 22.Aug.2019) — TechnipFMC has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by Shell for the PowerNap project, located in the Gulf of Mexico. TechnipFMC will design, manufacture and install subsea hardware, including subsea tree systems, subsea distribution controls, topside controls, flying leads and connectors […]
Wind Developers Losing Heart On Mexico Amid Stall
(Chron.com, Emily Pickrell, 22.Aug.2019) — Mannti Cummins, a Corpus Christi wind developer, has spent the last 17 years building wind energy projects in the Rio Grande Valley, from Brownsville to Baffin Bay. So when Mexico deregulated its power markets as part of the nation’s landmark energy reforms six years ago, […]
Höegh LNG Partners Reports 2Q:19 Financial Results
(Höegh, 22.Aug.2019) — Höegh LNG Partners LP reported its financial results for the quarter ended June 30, 2019. Highlights — Reported total time charter revenues of $33.8 million for the second quarter of 2019 compared to $35.5 million of time charter revenues for the second quarter of 2018 — Generated […]
Equinor Inks Deal With YPF, Expands In Argentina
(Zacks, 22.Aug.2019 ) — Equinor ASA recently announced the signing of a deal with the Argentine energy company, YPF Sociedad Anónima YPF, to jointly conduct exploration activities in the CAN 100 Block. The offshore prospect — acquired by YPF Sociedad in May — is located in the North Argentinian Basin. […]
Argentina, Chile Ink Emergency Energy Deal
(Energy Analytics Institute, Aaron Simonsky, 22.Aug.2019) — Argentina’s Energy Secretariat Gustavo Lopetegui held meetings with his Chilean counterpart Juan Carlos Jobet to sign an Emergency Energy Coordination Protocol for energy emergencies and discuss bilateral energy cooperation affecting both natural gas, crude oil and electrical interconnections. The Emergency Energy Coordination Protocol […]
Argentina NatGas Exports Reach 5.9 MMcm/d In 1H:19
(Energy Analytics Institute, Aaron Simonsky, 22.Aug.2019) — Argentina shipped an average 5.9 million cubic meters per day (MMcm/d) of natural gas to Chile, Brazil and Uruguay during the first half of 2019. Argentina re-initiated gas exports to Chile in September 2018 under an interruptible modality, after abruptly suspending shipments in […]
Höegh LNG Announces 2Q:19 Presentation Results
(Höegh, 22.Aug.2019) — Höegh LNG Partners LP will hold a presentation Thursday, August 22, 2019, at 8:30 A.M. (EST) to discuss financial results for the second quarter of 2019. The results and presentation material will be available for download at http://www.hoeghlngpartners.com. The presentation will be immediately followed by a Q&A […]
Bolsonaro Wants To Privatize Petrobras
(Reuters, 21.Aug.2019) — The economic team of Brazilian President Jair Bolsonaro wants to privatize state-controlled oil company Petroleo Brasileiro SA before the end of his term in 2022, Brazilian newspaper Valor Economico reported on its website on Wednesday, citing anonymous sources. The report also cites a speech by Economy Minister […]
EIG Reports Advances At Port of Açu
(EIG, 21,Aug.2019) — EIG Global Energy Partners, controlling shareholder of Prumo Logística S.A., a private Brazilian company leading the energy infrastructure hub at Port of Açu, announced major developments at Prumo. Among them, Gas Natural Açu (“GNA”), a joint venture among Prumo, BP and Siemens focused on the development and […]
SQM Reports 2Q:19 Earnings
(SQM, 21.Aug.2019) — SQM reported net income for the six months ended June 30, 2019 of US$150.7 million. Highlights — SQM reported net income for the six months ended June 30, 2019 of US$150.7 million. — Earnings per share totaled US$0.57 for the first half of 2019, lower than the […]
Atlas Says Brazil Solar Plant To Generate 357 GWh/Year
(Atlas, 21.Aug.2019) — Atlas Renewable Energy, leader in clean energy across Latin America, announces that its largest project in Brazil, the Juazeiro Solar Plant, is fully operational. The plant has an installed capacity of 156 MWp (megawatts peak) and will generate an estimated 357 GWh yearly. Located in Juazeiro, state […]
Colombia Pipeline Ready To Transport More Crude
(Reuters, 21.Aug.201 9) — Pipeline company Oleoducto de Colombia is ready to move increased crude output from the center of Colombia to the Caribbean if the use of fracking is approved in the Andean country, the company’s chief executive said on Wednesday. Both the government and investors interested in possible […]
Bolsonaro Said Wanting To Privatize Petrobras: Rpt
(Reuters, 21.Aug.2019 ) — The economic team of Brazilian President Jair Bolsonaro wants to privatize state-controlled oil company Petroleo Brasileiro SA before the end of his term in 2022, Brazilian newspaper Valor Economico reported on its website on Wednesday, citing anonymous sources. The report also cites a speech by Economy […]
Equinor And YPF Ink Offshore Exploration Deal
(Equinor, 21.Aug.2019) — Equinor’s executive vice president for Exploration, Tim Dodson, and YPF’s CEO Daniel Gonzalez have signed an agreement to jointly explore the CAN 100 offshore block, located in the North Argentinian Basin. The preliminary agreement, which was signed at Equinor’s office in Oslo, Norway, sets the core terms […]
Argentina Inks NatGas Export Deal With Chile
(Energy Analytics Institute, Aaron Simonsky, 21.Aug.2019) — Argentina and Chile signed an agreement for the export of natural gas from the former to the latter. The deal — under the framework of Resolution 417/19 from 26 July (which established new guidelines for regarding authorization of natural gas exports) — through […]
SQM To Hold 2Q:19 Conference Call
(SQM, 21.Aug.2019) — SQM will hold a conference call to discuss these results on Thursday, August 22, at 12:00pm ET (12:00pm Chile time). Participant Dial-In (Toll Free): 1-855-238-1018 Participant International Dial-In: 1-412-542-4107 Webcast: https://services.choruscall.com/links/sqm190822.html ***
Capital Discipline In GOM Lease Sale: WoodMac
(WoodMac, 21.Aug.2019) — Capital discipline remains key for offshore operators, judging by the results of today’s US Gulf of Mexico region-wide lease sale. Lease Sale 253 attracted 165 bids from 27 companies, with high bids totalling US$159.4 million. While this is a decrease of about $85 million (35%) from the […]
China Stays Venezuela Course
(Argus, 20.Aug.2019) — The Chinese government is so far showing no sign of curtailing its oil ties to Venezuela, despite state-owned PetroChina’s rescheduling of Merey crude loadings in August. Argus has confirmed that state-owned PetroChina’s trading arm ChinaOil rescheduled up to seven VLCCs of heavy sour Merey in August that […]
Argentina’s Energy Secretariat Meets With Governors, Companies
(Energy Analytics Institute, Aaron Simonsky, 20.Aug.2019) — Argentina’s Energy Secretariat Gustavo Lopetegui held a meeting in provinces with governors and oil company executives to discuss recently announced freezes to oil and fuel prices. This was the first such discussion in which the Argentine government sought to establish joint dialogue with […]
New Caracas Blackout Compounds Energy Woes
(AP, 20.Aug.2019) — Parts of Venezuela’s capital and at least one state endured a power blackout on Tuesday lasting several hours, in an occurrence that has become commonplace in the crisis-stricken nation beset by energy woes. The power went out in a wide swath of Caracas during the early afternoon, […]
ONGC Videsh To Exit Colombian Blocks
(Cogencis, Sukalp Sharma, 20.Aug.2019) — ONGC Videsh Ltd plans to relinquish three exploratory blocks–RC-9, RC-10, and GUA OFF-2–in Colombia in the current financial year ending March due to adverse hydrocarbon prospectivity in these blocks, sources with direct knowledge of the matter told Cogencis. ONGC Videsh is the overseas investment arm […]
Argentina Seeks To Stabilize Peso As Oil Companies Fret About Price Freeze
(S&P Global Platts, 20.Aug.2019) — Argentina’s newly installed economy minister, Hernan Lacunza, said Tuesday he will focus on stabilizing the currency as the key to pulling the country’s economy out of recession and reducing inflation, yet he will face pressure from oil companies who are concerned that a 90-day freeze […]
Petrobras Informs Of CARF Favorable Decision
(Petrobras, 20.Aug.2019) — Petrobras reports that the Administrative Board of Tax Appeals (CARF) issued today a favorable decision on an administrative tax proceeding regarding the collection of CIDE – Importtax on remittances abroad for the payment of charter contracts in the year 2013, in the approximate amount of R$ 5.1 […]
15 Guyanese Companies To Attend Aberdeen Exhibition
(Stabroek News, 20.Aug.2019) — The representatives of 15 Guyanese companies will be participating in an oil and gas conference and exhibition in Aberdeen, Scotland, next month. This was revealed yesterday by President of the Georgetown Chamber of Commerce and Industry (GGCI) Nicholas Deygoo-Boyer during a briefing at the residence of […]
‘The More Operators In Guyana’s Oil Fields The Better’
(Stabroek News, 20.Aug.2019) — Guyana is better off with more operators and countries involved in its oil fields, British High Commissioner to Guyana Gregory Quinn has said in wake of UK-based Tullow Oil’s recent offshore oil discovery. Tullow last week announced the discovery of oil in commercial quantities in its […]
Venture Global Announces FID For Calcasieu Pass LNG
(Venture Global LNG, 20.Aug.2019) — Venture Global LNG, Inc. is proud to announce the final investment decision (FID) and closing of the project financing for the company’s Calcasieu Pass LNG facility and associated TransCameron pipeline in Cameron Parish, Louisiana. The proceeds of the debt and equity financing fully fund the […]
Trinidad Inks Definitive Agreement With Shell
(Ministry of Energy and Energy Industries, 19.Aug.2019) — The Honourable Minister of Energy and Energy Industries announces the finalization of negotiations between the Government and Shell Trinidad and Tobago Limited on gas related issues. In April 2018, a Team led by the Honourable Prime Minister held high-level discussions with the […]
Cameron LNG Starts Ops For Train 1 Export Project
(Cameron LNG, 19.Aug.2019) — Sempra LNG, a Sempra Energy subsidiary, today announced that Cameron LNG’s first train of the liquefaction-export project in Hackberry, La., has begun commercial operations under Cameron LNG’s tolling agreements. “This is an exciting moment for Cameron LNG and for Sempra Energy,” said Carlos Ruiz Sacristan, chairman […]
CNPC Suspends Venezuelan Oil Loading
(Reuters, Chen Aizhu and Marianna Parraga, 18.Aug.2019) — China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South American exporter, three sources with direct knowledge of the matter told Reuters on Monday. The Trump administration in early August […]
Colombia’s Transandino Pipeline Damaged
(Reuters, 17.Aug.2019) — A bomb and two illegal valves have damaged sections of Colombia’s Transandino pipeline, state-run oil company Ecopetrol said on Saturday. The two valves, installed to steal crude, were placed by unknown persons in the municipality of Barbacoas in southwestern Narino province, near the border with Ecuador, the […]
BW Offshore Gets ANH Approval For Maromba Field
(BW Offshore, 17.Aug.2019) — BW Offshore (BWO) announced The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) has granted BW Offshore status as operator in Brazil and approved the transfer of Chevron and Petrobras’ participating interest in the Maromba field to BW Offshore. “We are proud to announce […]
Argentina Enforces Fuel Price Caps
(Argus, 16.Aug.2019) — The price cap takes effect immediately, according to a decree published in the Official Bulletin, the newspaper of record. The downstream sector must keep oil product prices at the same levels as August 9 in all outlets, including retail and wholesale, through November 15, the decree states. […]
Argentina Freezes Local Oil, Fuel Prices For 90 Days
(Baker McKenzie, 16.Aug.2019) — In a context of a series of government measures aimed at appeasing the adverse economic effects arising as a result of the recent primary presidential elections in Argentina, the National Executive Branch issued today Emergency Decree 566/2019 freezing the exchange rate and price of crude oil […]
Argentina Caps Oil Prices By Decree
(Argus, 16.Aug.2019) — Argentina implemented a three-month freeze on fuel and crude prices through an emergency decree, eschewing an earlier plan to apply a decades-old law that was designed to avoid shortages. The decree specifies that refiners and hydrocarbon producers must fulfill all existing domestic demand during the period when […]
Sungrow Supplies Argentina’s Solar Plant
(Sungrow, 16.Aug.2019) — Sungrow, the global leading inverter solution supplier for renewables, announced that a 100.1 MWp solar plant utilizing the Company’s 1500Vdc central inverter solutions came online in Cafayate, Salta Province, Argentina, demonstrating the Company’s dedicated contribution to the largest solar plant in one of LATAM’s most booming solar […]