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Frontera Reports Approval For Guyana Resequencing

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(Frontera, 2.Aug.2019) — Frontera Energy Corporation said a resequencing of CGX Energy Inc.’s work programme in the Corentyne block, offshore Guyana, held by its wholly owned subsidiary, CGX Resources Inc., has been approved by means of an addendum to its Corentyne Petroleum Agreement by the Government of the Cooperative Republic […]

Petrobras Reports Production Boost

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(Reuters, Gram Slattery and Marta Nogueira, 2.Aug.2019) — Brazilian state-run oil company Petroleo Brasileiro SA, or Petrobras, posted a long-awaited production boost in July after a disappointing June, as it ramped up production in the promising offshore “pre-salt” region. In a presentation to discuss quarterly results, Petrobras said it produced […]

Mexican Lawsuit Risks Permian Route To Market

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(Petroleum Economist, Charles Waine, 2.Aug.2019) — Mexico’s ComisiĂłn Federal de Electridad (CFE), the state-owned electricity utility, has started legal proceedings against seven natural gas pipelines. The move intensifies fears about both the anti-business agenda of the country’s president Andres LĂłpez Obrador and further delays to a much-needed release valve for […]

Petrobras Approves Pmt Of Shareholder Remuneration

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(Petrobras, 1.Aug.2019) — Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,608,840,252.20, corresponding to R$ 0.20 per outstanding common and preferred share.   The payment will be made […]

The U.S.’ Plan To Rebuild Venezuela After Maduro

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(WSJ, Paulo Trevisani, 1.Aug.2019) — U.S. Commerce Secretary Wilbur Ross laid out a plan including credit and investment to help rebuild Venezuela’s economy under democratic rule, as Washington continues to push for new leadership in the struggling nation. The American plan is contingent on the removal of Venezuela’s authoritarian leader, […]

Enel Signs With Angloamerican In Chile

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(Enel, 30.Jul.2019) — Enel, through its Chilean subsidiary Enel GeneraciĂłn Chile, and global mining company AngloAmerican signed an agreement whereby Enel’s Chilean subsidiary will supply up to 3 TWh of renewable energy per year to AngloAmerican over a 10-year period, meeting the needs of the mining company’s operations in the […]

Venezuelan Exiles Honing Day-After Action Plan

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(Argus, 30.Jul.2019) — VenezuelaÂŽs fledgling opposition government is putting the final touches on a strategic package of economic measures designed to allow time for a future administration to adopt sweeping structural reforms. The emergency measures, contained in an omnibus legislative bill now before the exile governmentÂŽs special attorney general and […]

Moody’s Confirms Ecopetrol Investment Grade Rating

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(Ecopetrol, 30.Jul.2019) — Ecopetrol S.A. announces that the rating agency Moody’s has kept the Company’s long-term international rating at Baa3, with stable outlook. In its report, Moody’s highlighted the Company’s strength as a leading firm in Colombia, its operating performance and capital efficiency, as well as the stable cash generation […]

Qatar Petroleum Enters Blocks In Guyana

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(Qatar Petroleum, 29.Jul.2019) — Qatar Petroleum has entered into an agreement with Total for a share of exploration and production rights in two blocks offshore Guyana in Latin America. Under the agreement, which is subject to customary regulatory approvals by the government of Guyana, Qatar Petroleum will hold 40% of […]

Petrobras Closes BR’s Public Offering For $9.6 Billion

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(Petrobras, 29.Jul.2019) — Petrobras announces the closing, on this date, of the secondary public offering of 393,187,500 common shares issued by Petrobras Distribuidora S.A (“BR”) and held by Petrobras (“Shares” and “Offer”), in the total amount of R$ 9,633,093,750.00. The value of the Offer already includes the full exercise of […]

Amerisur Reports Completion Of Sol-1 Well

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(Amerisur, 29.Jul.2019) — Amerisur Resources Plc announced completion of testing operations at the Sol-1 exploration well in Colombia. CPO-5 (WI 30%): Sol-1 Exploration Well Update Testing operations on the Sol-1 exploration well are complete. As previously announced, the well was drilled to a final depth of 9,986ft. Following initial analysis, […]

Petropiar JV starts blending

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(Reuters, 29.Jul.2019, Words: 316) — Venezuelan state-run oil company PDVSA said on Monday the Petropiar extra-heavy crude upgrader, part-owned by U.S. oil company Chevron Corp, had begun operations as a blending facility. The facility, which used to produce upgraded crude destined mainly for the U.S. market, is expected to produce […]

Petrobras Reports Modest Output Growth

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(Reuters, Ana Mano and Gram Slattery, 26.Jul.2019) — Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade. In an early Friday securities filing, Petrobras, as the firm […]

Canadian Solar Signs Solar Photovoltaic Project Deal

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(Canadian Solar, 25.Jul.2019) — Canadian Solar Inc. announced that it has signed an agreement for the purchase of electricity from its 32 MWp/23 MWac Suffield solar facility with Direct Energy, one of North America’s largest energy and energy-related services providers, and a subsidiary of Centrica PLC. The Suffield project, located […]

Petrobras Receives Over $100mn Via Recovered Assets

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(Reuters, 25.Jul.2019) — Brazilian state-run Petrobras this week received 425 million reais ($112 million) as a result of leniency deals and recovered assets from parties involved in the country’s sprawling “Car Wash” corruption investigation, the oil firm said on Thursday. With the funds, Petroleo Brasileiro SA, as the firm is […]

Petrobras Reports On BR Shares Purchase Option

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(Petrobras, 25.Jul.2019) — Petrobras, pursuant to article 24 of CVM Instruction 400 of December 29, 2003, as amended, reports that today the over allotment option (“Greenshoe Option”) was fully exercised under the secondary public offering of shares issued by Petrobras Distribuidora SA (“BR”) and held by Petrobras. With the exercise […]

Petrobras Starts Phase For Sale Of Bahia Fields

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(Petrobras, 25.Jul.2019) — Petrobras, following up on the release dated 07/08/2019, announces the beginning of the non-binding phase related to the sale of all its stakes in four onshore fields, located in Bahia, jointly known as Tucano Sul Cluster. Parties qualified for this phase will receive instructions on the divestment […]

Petrobras Receives R$425mn For Leniency Agreements

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(Petrobras, 25.Jul.2019) — Petrobras received this week R$425 million as a result of leniency agreements and repatriations carried out by the Federal Prosecutor’s Office. Thus, the total amount of funds returned to the company as a result of cooperation, leniency agreements and repatriation exceeds R$ 4 billion. Such return involves: […]