(ANH, 11.Jul.2019) â After more than five years without offers or rounds of new blocks for Exploration and Production of hydrocarbons in Colombia, the new Permanent Process of Area Allocation (PPAA) launched by the National Hydrocarbons Agency â ANH at the beginning of 2019 starts to bear its first fruits […]
Talos Increases Credit Facility Commitments And Provides Hedging Update
(Talos, 10.Jul.2019) â Talos Energy Inc. provided an update on the results of its semi-annual borrowing base redetermination and recent hedging activities. Effective July 3, 2019, the Company’s borrowing base of $850 million was unanimously reaffirmed by participants of its syndicated credit facility. In conjunction with the regularly scheduled redetermination, […]
Qatar Petroleum And Chevron Ink Deal For Mega US Petrochemical Plant
(Qatar Petroleum, 10.Jul.2019) â Qatar Petroleum has signed an agreement with Chevron Phillips Chemical Company LLC to develop a new world-scale petrochemical project in the Gulf Coast region of the United States of America. The signing took place at the White House, in the presence of His Highness Sheikh Tamim […]
Argentina Opens Tender For $2bn Vaca Muerta Pipeline
(Reuters, 10.Jul.2019) â Argentina has opened the tender for a new $2 billion gas pipeline from the huge Vaca Muerta shale field, which according to the country’s Energy Secretariat, should be completed the middle of 2021. The pipeline, which a government source previously estimated would cost $2 billion, will run […]
DomRep Launches First Oil Licensing Round
(WoodMac, 10.Jul.2019) â The Dominican Republic today launched its first licensing round, putting 14 blocks across its on- and offshore basins up for bid. The Dominican Republicâs Ministry of Energy and Mines said the blocks on offer lie in the Cibao, Enriquillo, Azua, and San Pedro basins. Wood Mackenzie, a […]
Siemens Turbine Generator To Power Eni Mexico Area 1
(Siemens, 9.Jul.2019) â Siemens will provide MODEC with three 34-megawatt (MW) SGT-A35 gas turbine power generation packages that will power MODEC’s floating production, storage, and offloading (FPSO) vessel. The vessel, referred to as the “Eni Mexico Area 1 FPSO,” will be deployed in the Offshore Area 1 approximately 6 miles […]
Bolivia To Buy Petrobras’ Stake In Gas Pipeline
(Reuters, 9.Jul.2019) â Bolivia’s state-owned oil company YPFB plans to bid on a stake in a natural gas pipeline linking the country to Brazil to secure better terms for its gas sales there, the company said on Tuesday. YPFB intends to bid on an unidentified portion of the 51% stake […]
PdV To Tap Fractionator To Replace Imported Naphtha
(Argus, 9.Jul.2019) â Venezuela’s national oil company PdV is seeking to adapt its infrastructure to cope with a shortage of imported naphtha that is hindering heavy crude production and exports. The company said it plans to build two small pipelines at its Jose industrial complex to supply its 210,000 b/d […]
Trinidad Downgraded By Standards And Poorâs
(Guardian, Curtis Williams, 9.Jul.2019) â Trinidad and Tobago has suffered a downgrade in its sovereign ratings from credit rating agency Standard and Poorâs. In its update on this country, S&P said the decision to downgrade T&T was based on lower-than-expected energy production and economic growth which it expects to weaken […]
Valerie Bosse To Head Wintershall Dea In Brazil
(Wintershall, 9.Jul.2019) â Change at the top of Wintershall Dea in Brazil: Valerie Bosse is the new Managing Director of the Wintershall Dea Business Unit Brazil and is responsible for all previous Wintershall and DEA activities in the country. On 30 April 2019, the two German companies Wintershall Holding GmbH […]
Mexico Auctions Moratorium Give Rival Brazil An Edge
(Bloomberg, Peter Millard and Amy Stillman, 9.Jul.2019) â Mexicoâs moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. ‘Mexico President Andres Manuel Lopez Obrador has halted new bid rounds, and state-owned Petroleos Mexicanos has disappointed potential partners by […]
Petrobras Announces Tender Offers Expiration Date
(Petrobras, 8.Jul.2019) â Petrobras announced the expiration and expiration date results of the previously announced offers to purchase by its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF), of any and all of its outstanding notes set forth in the table below (the âNotesâ). The Offers were made pursuant to the […]
Petrobras And CADE Ink Natgas Market Deal
(Petrobras, 8.Jul.2019) â Petrobras reports that it signed an Agreement with the Administrative Council for Economic Defense (CADE), which consolidates understandings between the parties on the promotion of competition in the natural gas industry in Brazil, including the sale of shareholdings in companies operating thereof. The purpose of the Agreement […]
Venezuelaâs CRP Shuts Down After Blackout
(Oilprice.com, Irina Slav, 8.Jul.2019) â Venezuelaâs refining complex CRP has been shut down after a blackout that occurred on Sunday, Argus Media reports, citing union officials from the complex as saying the blackout was caused by a âcatastrophic failureâ in a turbine at the power plant that supplies electricity to […]
YPF Launches YPF Ventures, Invests In Bird
(YPF, 8.Jul.2019) â YPF announced the launch of YPF Ventures, a corporate venture capital fund that will expand YPF’s influence into emerging energy businesses. YPF is one of Latin America’s largest energy companies with $15B in revenue and 21 thousand employees. YPF Ventures is distinct from other corporate energy venture […]
PDVSA to Restart CRP Refining by 10 Jul. 2019
(Argus, 8.Jul.2019) â VenezuelaÂŽs state-owned PdV plans to restart crude processing at the 940,000 b/d CRP refining complex by 10 July after electricity supply was restored on the Paraguana peninsula, the oil ministry said. The oil ministry said the CRP complex remained off line as of 6pm ET today, but […]
Petrobras Chief Governance, Compliance Officer Resigns
(Petrobras, 5.Jul.2019) â Petrobras informs that its Chief Governance and Compliance Executive Officer, Rafael Mendes Gomes, presented his resignation from the position, for personal reasons. Petrobras will initiate a selection process to choose the new Officer who, according to the company’s governance rules, must be elected by the Board of […]
Eco, Total, Tullow Spud Jethro-Lobe Offshore Guyana
(Eco, 5.Jul.2019) â Eco (Atlantic) Oil & Gas Ltd. announced that drilling operations have commenced offshore Guyana with the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block. Jethro-Lobe was spud at 22:45hrs (Local Guyana time) on Thursday 4th July 2019 using the Stena Forth […]
About Guyana: GECOM
(GECOM, 5.Jul.2019) â Guyana, the only English speaking country in South America was first inhabited by the Amerindians until the era of the European exploration when the Spanish began using it as a trading post during the 16th Century. Background and history Guyana, the only English speaking country in South […]
Arrest Warrant Issued For Former Pemex CEO
(Reuters, 5.Jul.2019) â Mexico’s attorney general’s office said on Friday that a judge issued arrest warrants for the former chief executive of state oil firm Pemex, Emilio Lozoya, three of his family members and one other person, in a graft case involving Brazilian builder Odebrecht. The Finance Ministry said in […]
Petrobras Clarifies On LiquigĂĄs Divestment
(Petrobras, 5.Jul.2019) â Petrobras, in relation to the news published in the media, regarding the sale of LiquigĂĄs Distribuidora SA, clarifies that this divestment project is in the binding phase, as disclosed to the market in June 20, 2019. In the previous phase of the project, Petrobras received non-binding offers, […]
Petrobras Starts Teaser For Espirito Santo E&P Assets
(Petrobras, 5.Jul.2019) â Petrobras started the opportunity disclosure stage (teaser), related to the sale of its entire working interest in PeroĂĄ and CangoĂĄ production fields and in the concession BM-ES-21 (Malombe discovery appraisal plan), located in the EspĂrito anto Basin, including the shared outflow and production offshore facilities and the […]
Petrobras Informs Of Capital Interest Payment
(Petrobras, 5.Jul.2019) â Petrobras informs that in connection to the press released of May 7th, 2019 that it is paying today Interest on Capital (IOC), as defined in art. 9, sole paragraph of its Bylaws. The gross value to be distributed, totaling R$ 1,304,420,126.10, corresponds to a gross amount of […]
Sempra On Cameron LNG With McDermott, Chiyoda
(McDermott, 5.Jul.2019) â McDermott International (McDermott) and Chiyoda International (Chiyoda) announced today they have reached an agreement with Cameron LNG for performance-based commercial considerations related to the construction and commissioning schedule that further aligns the interests of all parties around safe, timely completion of Phase 1 of Cameron LNG, a […]
JinkoSolar Supplies 7.8MW To Two Plants In Hungary
(JinkoSolar, 5.Jul.2019) â JinkoSolar Holding Co., Ltd. announced that it has supplied I+D Energias with 7.8MW of solar modules which were installed at two PV power plants in Hungary. The construction of both plants began in November 2018 and was completed in record time by March 2019. Located in the […]
Trafigura Pte. To Export 340,000 Barrels Of VGO
(Energy Analytics Institute, Piero Stewart, 4.Jul.2019) â Trafigura Pte. Ltd. was awarded a deal by EP Petroecuador for the export of 340,000 barrels ± 3% of Vacuum Gas Oil (VGO). The deal will be completed with two shipments comprised of 170,000 bbls ± each, EP PetroEcuador announced 4 July in […]
The National Gas Company Key To Gas Value Chain
(T&T Newsday, Clint Chan Tack, 4.Jul.2019) â The National Gas Company (NGC) needs to remain a key part of this country’s natural gas value chain, but it may have to be more flexible in terms of how it deals with its customers â and the Government will also have to […]
Dozens Arrested For Murder, Extortion Of Petrobras Contractors
(Reuters, Gram Slattery and Rodrigo Viga Gaier, 4.Jul.2019) â Police in Rio de Janeiro arrested more than 40 people on Thursday for their alleged roles in a murderous gang that extorted companies working for state-run oil company Petrobras and established a secret cemetery to dispose of rivals. The arrests highlight […]
Guyana To Boost Royalties On Future Oil Licenses
(Reuters, 3.Jul.2019) â Guyana is preparing to raise the take of the government in future oil licences, the director of the South American countryâs Department of Energy said on Wednesday. U.S. energy giant Exxon, French group Total and Britainâs Tullow Oil are drilling wells offshore Guyana, where Exxon has discovered […]
Bechtel Delivers 1st Cargo To Corpus Christi’s Train 2
(Bechtel, 3.Jul.2019) â Bechtel and customer Cheniere Energy announced the completion of the first commissioning cargo with liquefied natural gas (LNG) from Train 2 at the Corpus Christi Liquefaction (CCL) export terminal in Corpus Christi, Texas. Through its partnership with Cheniere, Bechtel has now delivered seven LNG trains at two […]
Eni Awarded New E&P License Offshore Ghana
(Eni, 3.Jul.2019) â Eni (70%) and its partner Vitol (30%) have been awarded rights to Block WB03, located in the medium deep waters of the prolific Tano Basin, offshore Ghana. This result allows Eni to further consolidate its presence in the Country. Eni will be the Operator of the license […]
Frontera Announces 2Q:19 Peru And Colombia Update
(Frontera, 3.Jul.2019) â Frontera Energy announces a second quarter 2019 operational update. All values in this news release and the Company’s financial disclosures are in United States dollars, unless otherwise noted. Second Quarter Production and Average Oil Prices Frontera delivered estimated second quarter 2019 production of 74,285 boe/d, representing quarterly […]
Constellation Announces Updates Regarding RJ Plan
(Constellation, 2.Jul.2019) â Constellation Oil Services Holding S.A., filed an amended plan (the “Plan”) in its recuperação judicial (“RJ”) proceeding in Brazil on July 1, 2019. The Plan was approved by approximately 90% of its creditors in amount at the general meeting of creditors (the Assembleia Geral de Credores or […]
EPM Commences Tender Offer 8.375% Notes Due 2021
(EPM, 2.Jul.2019) â Empresas PĂșblicas de MedellĂn E.S.P. (EPM) its offer to purchase for cash any and all of its outstanding 8.375% Notes due 2021 (CUSIP No.: 29246B AB4 (144A) / P9379R AB3 (Reg S) / ISIN No.: US29246BAB45 (144A) / USP9379RAB35 (Reg S)) (the “Notes”), from beneficial owners thereof […]
Shale Helps Argentina Hit Oil, Natgas Output Record
(Reuters, 2.Jul.2019) â Argentine oil and natural gas output hit a record high in May thanks to increased production from the countryâs sprawling Vaca Muerta shale formation, the government said on Wednesday. National gas production increased 7.6% in May compared with the same month last year, while oil production grew […]
Total Eclipse Wipes Out Half Of Chileâs Solar Power
(Bloomberg, Laura Millan Lombrana, 2.Jul.2019) â The total eclipse that plunged South America into darkness for a short while on Tuesday also knocked out about half of Chileâs solar power. Chilean solar farms, which can altogether produce about 2 gigawatts of electricity, saw their output slide by 1.2 gigawatts, according […]
Eni Starts Production Offshore Mexico At Area 1
(Eni, 2.Jul.2019) â Eni has started the early production phase from the MiztĂłn field in Area 1, located in the Campeche Bay offshore Mexico. This is the first step in the development of Area 1, estimated to hold 2.1 billion of oil equivalent in place (90% oil) in the Amoca, […]
Venezuela To Blend Oil To Keep Exports Afloat: OilMin
(Reuters, 2.Jul.2019) â Venezuela will stick to its plan of blending domestic and foreign crude to maintain and even increase oil production and exports in the face of sanctions prohibiting U.S. companies from buying the countryâs oil, oil minister Manuel Quevedo said on Tuesday. State-run oil company PDVSA in June […]
Chevron Seeks Relief From Trump’s Venezuela Oil Sanctions
(Bloomberg, Fabiola Zerpa, Peter Millard and Kevin Crowley, 2.Jul.2019) â Chevron Corp. is lobbying the U.S. for sanctions relief so it can continue doing business in oil-rich Venezuela where President Donald Trump has been pushing for regime change. Chevron executives have been telling local staff that the company expects waivers […]
Ahmeyim-1 Well Expands Resource Potential Offshore
(Kosmos, 1.Jul.2019) â Kosmos Energy announced the Greater Tortue Ahmeyim-1 well (GTA-1), drilled on the eastern anticline within the unit development area of Greater Tortue, has encountered approximately 30 meters of net gas pay in high-quality Albian reservoir. The Greater Tortue Ahmeyim LNG project is on track to deliver first […]
Former Petrobras CEO Appointed Nubank Member
(Reuters, 1.Jul.2019) â Brazilian financial startup Nubank has appointed former Petroleo Brasileiro SA’s Chief Executive Ivan Monteiro as a member of its risk committee and finance consultant, it said on Monday in a statement. Monteiro’s hiring comes at a time that Nubank is broadening its product offering beyond credit cards […]
Petrobras To Divest Refinery Assets To Trim Leverage
(Zacks, 1.Jul.2019) â In a bid to forge ahead with divestment goals, Petrobras has commenced the process of offloading four refineries namely Rnest, Rian, Repar and Refap. The move is part of a broader plan of the Brazilian oil giant to jettison eight of its refineries that constitute 50% of […]
Moody’s Assigns B2 Rating To Pampa Energia’s Notes
(Moodyâs, 1.Jul.2019) â Moody’s Investors Service assigned a B2 rating to Pampa EnergĂa S.A.’s proposed senior unsecured notes. The outlook is stable. Net proceeds from the proposed issuance will be used for liability management, capital spending, working capital and/or make capital contributions to certain subsidiaries or affiliates. The rating of […]
Building LNG-powered Ships Along U.S./Mexico Border
(Chron.com, Sergio Chapa, 1.Jul.2019) â Keppel AmFELS has built offshore drilling rigs and platforms here for decades. But the last few years have not been particulary kind to the offshore energy companies, which in the face of low oil prices and competition from shale, has delayed, canceled and scaled back […]
Bolivian Economy Stable But Storm Clouds Loom
(AP, Carlos Valdez, 1.Jul.2019) â Abraham RodrĂguez’s small shoe store grew into a factory that employed more than a dozen workers during an economic boom in Bolivia when prices for the gas and minerals it produces soared. Today, he can only employ one worker. He says the tax-free import of […]
JinkoSolar Commissions Solar Project In Abu Dhabi
(JinkoSolar, 1.Jul.2019) â JinkoSolar Holding Co., Ltd. announced that the world’s largest[1] solar plant of 1,177MWp, which was jointly developed by the Company, Japan’s Marubeni Corp. and Emirates Water and Electricity Company (EWEC), has recently started commercial operations as scheduled at Sweihan in Abu Dhabi. The AED3.2 billion project, which […]
Petrobras Commences Cash Tender Offers
(Petrobras, 1.Jul.2019) â Petrobras announces that its wholly-owned subsidiary, Petrobras Global Finance B.V. (âPGFâ), has commenced cash tender offers to repurchase certain of its outstanding U.S.Dollar-, Euro-and Pound Sterling-denominated notes (the âTender Offersâ). Tender Offers PGF has commenced offers to purchase for cash: (1) any and all of its outstanding […]
LatAm Briefs Bolivia: Govt Income, Mangnetoteluric Study
(Energy Analytics Institute, Ian Silverman, 1.Jul.2019) â LatAmNRG briefs related to Bolivia and government receiving 67.4% of all hydrocarbon revenues during 2006-2018, the country eying natural gas reserves reaching 15 trillion cubic feet by 2025, and state oil and gas entity YPFB commencing a mangnetoteluric study in Cochabamba. Bolivia Received […]
Pemex To Invest Combined $283 Million In Uchbal Field
(Energy Analytics Institute, Jared Yamin, 29.Jun.2019) â Mexicoâs state oil company PetrĂłleos Mexicanos (Pemex) plans to invest $266 million in development activities related at the Uchbal field, corresponding to its allocation AE-0006-5M-Amoca YaxchĂ©-04, and according to the exploration and production plan approved by Mexicoâs National Hydrocarbons Commission (CNH by its […]
Pemex Refinances $8 Billion In Debt
(Energy Analytics Institute, Jared Yamin, 28.Jun.2019) â Mexicoâs state oil and gas entity Pemex announced refinancing of $8 billion in debt with support of 23 national and international banking institutions, the company announced in an official statement. The agreement allows Pemex to refinance up to $2.5 billion in debt and […]