(Frontera, 11.Apr.2019) — Frontera Energy Corporation announces a first quarter 2019 operational update. All values in this news release and the company’s financial disclosures are in United States dollars, unless otherwise noted. Richard Herbert, Chief Executive Officer of Frontera, commented: “2019 is off to a strong start for Frontera, with […]
To Halt Energy Slide, Mexico Turns To A Trusted Provider: Mexico
(NYT, Elisabeth Malkin, 11.Apr.2019) — President Andrés Manuel López Obrador envisions a future in which Mexico produces more oil, gasoline and electricity. But his strategy to get there relies on reaching back into his country’s past. Breaking with a five-year-old energy overhaul that opened Mexico’s closely held oil industry to […]
CNOOC Propels Development Of China’s LNG Industry At LNG2019
(CNOOC, 11.Apr.2019) — China National Offshore Oil Corporation (CNOOC), the country’s biggest offshore oil and gas producer, is proactive in facilitating the innovation of technology, management and business model, continuously injecting new impetus into the development of LNG industries. CNOOC is committed to providing stable and reliable clean energy and […]
Delek Acquires Shell Deepwater Assets, Expanding E&P Footprint
(Wood Mac, 11.Apr.2019) — Delek Group has stepped out of the Gulf of Mexico shelf and into the deepwater, signing an agreement to acquire Shell’s 22.45% non-operated interest in the Caesar-Tonga field in the Green Canyon protraction area for US$965 million. Commenting on the deal, Michael Murphy, research analyst with […]
Enel Ups Stake In Chile Unit, Supports $3.5bn Capital Hike Plan
(Renewables Now, 11.Apr.2019) — Italian renewables-focused utility Enel SpA (BIT:ENEL) on Wednesday said it has concluded the purchase of an additional 4.62% stake in its Chile-based unit and announced plans to support an upcoming capital hike at the same subsidiary. Enel has settled two previously announced share-swap transactions, buying nearly […]
Ecopetrol President Says Colombia Gas Potential Between 14-64 Tcf
(Energy Analytics Institute, Piero Stewart, 10.Apr.2019) — Colombia’s natural gas potential — including onshore, offshore and non-conventional resources — is between 14 and 64 trillion cubic feet (Tcf), Ecopetrol President Felipe Bayón said on 10 April in an official company statement. Colombia’s potential gas resources are distributed as such: — […]
Vista Oil & Gas Releases Details Related To Shareholder’s Meeting
(Vista, 10.Apr.2019) — Vista Oil & Gas S.A.B. de C.V. announced details of the company’s Ordinary General Shareholders’ Meeting slated for 25 April 2019. Attached you will find the call for the company’s Ordinary General Shareholders’ Meeting, which will take place at 10.00 AM CST (11.00 AM EST / 12.00 […]
PetroPerú President Says Final Cost Of Talara Refinery Is $5 Billion
(Energy Analytics Institute, Ian Silverman, 10.Apr.2019) — The inal cost of the Talara refinery in Peru is $5 billion, including $695 million in interest related to the project’s financing, announced PetroPerú’s President Esteban Bertarelli Bustamante in a company video. This compares to an initial cost of around $5.4 billion, when […]
Lights Dimming On Big Oil In Venezuela
(Argus, Patricia Garip, 10.Apr.2019) — Darkness has befallen Venezuela in more than one sense, and incumbent oil companies are scrambling for a ray of light. It was hard enough for western oil companies to operate in Venezuela before the lights went out in March. Now it is nearing impossible, at […]
Colombia Could Assist, Benefit From Venezuela Oil Recovery: Former Minister
(S&P Global Platts, 10.Apr.2019) — Colombia could use its oil expertise to assist in, and benefit from, the secondary recovery of Venezuela’s heavy crude production, Colombia’s former energy minister said Wednesday. Colombia has a crop of heavy oil fields that contribute to its own 900,000 b/d of current oil production, […]
Peru Cuts Gas Reserves, CNPC Block On Hold
(Argus, 10.Apr.2019) — Peru’s natural gas reserves declined after the energy ministry reclassified the potential of Chinese state-owned CNPC’s block 58 from proven/probable reserves to contingent resources. The ministry said the decision was based on the methodology used for the report, which classifies P2 reserves as those that will be […]
Brazil To Pay Petrobras $9B In Oil Contract Settlement
(SeekingAlpha, Carl Surran, 10.Apr.2019) — Brazil’s government will pay $9.06B to Petrobras for revising the contract for the transfer of rights area, Energy Minister Albuquerque announced late yesterday. The resolution opens the way for an Oct. 28 auction to develop excess oil reserves beyond the 5B barrels the company is […]
US Acknowledges Guyana’s Right To Renegotiate Exxon Deal If It So Chooses
(Stabroek News, 10.Apr.2019) — The United States acknowledges that it is within Guyana’s sovereign right to renegotiate the controversial Production Sharing Agreement (PSA) between the country and ExxonMobil and its partners if it so chooses, recently accredited US Ambassador to Guyana, Sarah-Ann Lynch says. “We certainly believe that Guyana is […]
Mexico Would Consider State Gas Stations In Push For Fair Prices
(Reuters, 9.Apr.2019) — Mexico’s President Andres Manuel Lopez Obrador said on Tuesday he would consider creating a chain of government gas stations if existing fuel outlets did not charge “fair prices,” as he seeks to make good on a campaign vow to ensure stable fuel rates. Benchmark gasoline prices have […]
Mexican President Warns Retailers: Keep Gas Prices In Check
(Oilprice.com, Tsvetana Paraskova, 9.Apr.2019) — The Mexican government may consider creating a small network of gas stations that would sell gasoline at lower, “fair prices”, if gas station operators in the country don’t keep gas prices in check, Mexico’s leftist President Andrés Manuel López Obrador said on Tuesday. López Obrador—in […]
Brazil’s Petrobras Announces Final Tender Results
(Petrobras, 9.Apr.2019) — Petrobras announced the final results of its previously announced debt tender offers (the “Waterfall Offers”). As of 11:59 p.m., New York City time, on April 8, 2019 (the “Expiration Date”) holders of US$1,867,021,000 and €371,098,000 principal amount of the outstanding notes of the series set forth in […]
Argentina Sees Steady Growth In Light Crude Exports From Vaca Muerta
(S&P Global Platts, 9.Apr.2019) — Argentina’s state-led YPF is preparing a shipment of light crude from Vaca Muerta, a trend the federal government expects to gain as production increases from the shale play, Argentinian Energy Secretary Gustavo Lopetegui said Tuesday. “This year for the first time in many years we […]
Petrobras Informs On Sale Of Liquigás: Publication Of The New Teaser
(Petrobras, 9.Apr.2019) — Petrobras, following up on the press release disclosed on 04/05/2019, regarding the competitive sale process of 100% of Liquigás Distribuidora SA, informs that the new Teaser, which contains the main information about the opportunity, as well as wider eligibility criteria for the selection of potential participants, is […]
TechnipFMC Inks Significant Subsea Deal For The Lapa Pre-Salt Field In Brazil
(Energy Analytics Institute, Aaron Simonsky, 9.Apr.2019) — TechnipFMC said it has been awarded a significant contract for the Lapa field by Total E&P do Brasil Ltda., on behalf of the Lapa Field Consortium, comprised of Total (35% WI), Shell Brasil Petróleo Ltda. (30% WI), Repsol Sinopec Brasil S.A. (25% WI) […]
Petrobras Updates On National Council of Energy Policy (CNPE)
(Petrobras, 9.Apr.2019) — Petrobras informs that became aware of the CNPE announcement regarding the revision of the Transfer of Rights Agreement in reference to their meeting held today. According to the CNPE statement, Petrobras will be compensated by US$ 9,058 billion (nine billion and fifty eight million dollars) due to […]
Texas’ Pete Olson Calls For Maduro To Release Citgo 6
(The Katy News, 8.Apr.2019) — Rep. Pete Olson (TX-22) issued the following statement calling on the Maduro regime to release the six Citgo executives, five of whom are Texans, who have been detained in Venezuela since November 2017: “The CITGO 6 are Texas and Louisiana residents who have been detained […]
KBR Awarded Pre-FEED Contract For BP’s Greater Tortue Ahmeyim Project
(KBR, 9.Apr.2019) — KBR, Inc. announced that BP has awarded KBR’s UK operating subsidiary the Pre-FEED Services contract for Phases 2 and 3 of BP’s Greater Tortue Ahmeyim project, for the further development of Tortue field beyond Phase 1, located at the maritime border of Senegal and Mauritania. These next […]
Nigeria Advised To Emulate Trinidad And Tobago In Gas Utilization
(African News Network, 9.Apr.2019) — Nigeria has been advised to emulate the way Trinidad and Tobago develops and utilizes gas resources for the benefit of its citizens. The Island’s high commissioner in Nigeria, William Wallace, says the country should copy what happens in his country, where he said citizens and […]
AES Gener Announces Expiration And Final Tender Results
(AES, 8.Apr.2019) — AES Gener S.A. announced the final results of the previously announced offer to purchase for cash (the “Tender Offer”) of any and all of its 8.375% Junior Subordinated Capital Notes due 2073, listed in the table below (collectively, the “Notes.”). The Tender Offer for the 2073 Notes […]
Repsol And Petro-Peru Raise Fuel Prices Again In Peru
(Energy Analytics Institute, Ian Silverman, 8.Apr.2019) — Repsol and Petro-Peru released details of their new fuel prices over the weekend. According to the details, fuel oil and gasoline prices rose between 0.6% and 3% per gallon, including taxes, online media El Comercio reported, citing data from Peru’s Consumers and Users […]
Ecuador’s Oil Production Climbs To 522 Mb/d In March 2019
(Energy Analytics Institute, Piero Stewart, 8.Apr.2019) — Ecuador’s production of crude oil rose to 522 Mb/d in March 2019 compared to 519 Mb/d in February and 517 Mb/d in January 2019, the country’s Energy Ministry announced 8 April 2019 in a post on its twitter account. Of the amounts in […]
Shell Invests In Nature In Move To Tackle CO2 Emissions
(Shell, 8.Apr.2019) — Carbon-neutral driving launch in the Netherlands complements investments in new electric vehicle charge points. Reforestation partnerships announced in the Netherlands and Spain Shell today announces a programme to invest in natural ecosystems as part of its strategy to act on global climate change, including addressing carbon dioxide […]
Argentina’s Incumbent Political Party Wins Rio Negro Oil Province Election
(S&P Global Platts, 8.Apr.2019) — The incumbent political party in Rio Negro, an oil province in Argentina, won the re-election on Sunday; a result that could favor President Mauricio Macri’s chance for a second term in October, allowing him to press ahead with measures and policies driving a recovery in […]
La Banderita Wind Farm Starts Operations In La Pampa
(Energy Analytics Institute, Aaron Simonsky, 8.Apr.2019) — With entry into commercial operation of the La Banderita wind farm in La Pampa, there are currently already 35 renewable energy projects with a combined installed capacity of 1,024.3 megawatts (MW) that have come online since 2016. These projects — awarded through RenovAr […]
Oil Pipeline Explodes In Mexico Sending Flames Shooting 16ft Into The Sky
(Mailonline, Stefan Boscia, 8.Apr.2019) — An oil pipeline has exploded in the Mexican city of Leon in the aftermath of a botched attempt to steal fuel by one of the country’s notorious drug cartels. Flames reaching as high as sixteen feet were the only lights some residents of the central […]
KBR Adds BHGE To Development Of Mid-Scale LNG Reference Design
(KBR, 8.Apr.2019) — KBR, Inc. announced it has selected Baker Hughes, a GE company, as part of the ongoing development of KBR’s standardized mid-scale Liquefied Natural Gas (LNG) design. The design utilizes ConocoPhillips’ Optimized Cascade® technology as part of a broader partnership previously announced by KBR and COP. The mid-scale […]
Knowledge Exchange Spurs China-Argentina Infrastructure Projects
(Xinhua, 8.Apr.2019) — Knowledge exchange between Chinese and Argentine technicians spurs large-scale joint infrastructure projects within the framework of the Belt and Road Initiative (BRI), said Argentine workers at Chinese company Power China. Chinese company Power China is currently helping develop Argentina’s alternative energy sources by building a series of […]
Chile, India, And Jordan Set The Green Standard
(The Christian Science Monitor, Timmy Broderick, 8.Apr.2019) — Solar panels, wind turbines, geothermal vents – all three are technologies that were once solely the province of wealthy nations. Now they have been swiftly adopted in developing countries as costs have plummeted. In fact, global emerging economies added more clean power […]
Enel Green Power Switches On 86-MW Solar Plant In Colombia
(Renewables Now, 8.Apr.2019) — Italian energy major Enel SpA inaugurated on Friday an 86.2-MW solar photovoltaic (PV) farm in Colombia’s Cesar department. The company’s local renewables subsidiary, Enel Green Power Colombia (EGPC), has invested nearly USD 70 million (EUR 62.3m) in the El Paso PV farm, the local energy ministry […]
Students Put Energy Efficient Cars To The Test At Shell Eco-marathon Americas
(Shell, 7.Apr.2019) — Make the Future Live California featuring Shell Eco-marathon Americas drew more than 1,000 students to Sonoma Raceway to compete for the title of most fuel-efficient vehicle. Northern Illinois University of DeKalb, Illinois took home first place in the Internal Combustion Engine Prototype category with their gasoline-fueled vehicle […]
Neuquén Holds 73% Of Argentina’s Recoverable Shale Gas
(Energy Analytics Institute, Pietro D. Pitts, 7.Apr.2019) — Argentina contains the second largest recoverable non-conventional natural gas resources in the world with 802.2 trillion cubic feet (Tcf), only trailing Asian giant China, which holds 1,115 Tcf, according to data published by US-based Energy Information Administration or (EIA). Of the resources, […]
Siderúrgica Del Mutún Eyes Exporting 150,000 Tons Of Iron To Mainly Argentina
(Energy Analytics Institute, Ian Silverman, 29.Apr.2019) — Siderúrgica del Mutún (ESM by its Spanish acronym) exported 20,000 tons of Bolivian iron to Argentina in the first quarter of 2019, announced ESM President Jesús Lara. “The goal this year is to export around 150,000 tons of iron, mainly to the Argentine […]
Pemex Said Not To Issue Debt Over the Medium-Term
(Energy Analytics Institute, Jared Yamin, 30.Apr.2019) — Petróleos Mexicanos (Pemex) will not return to financial markets to issue debt over the medium term because spreads are high since the market is taking into account the company’s low credit quality, the Secretary of the Treasury and the rating agency Standard & […]
LatAmNRG Colombia Briefs: El Paso Solar Park, Seeking Electricaribe Investors
(Energy Analytics Institute, Piero Stewart, 5.Apr.2019) — Heard on the street and LatAmNRG briefs related to Colombia an inauguration of the 86.2 megawatt El Paso solar park in Cesar and the Colombian government seeking investors and/or operators for Electricaribe. Colombia Inaugurates 86.2 MW El Paso Solar Park In Cesar (Energy […]
New U.S. Sanctions Seek To Block Venezuelan Oil Shipments To Cuba
(NYT, Annie Karni and Nicholas Casey, 5.Apr.2019) — The Trump administration announced on Friday its latest round of economic sanctions against the government of President Nicolás Maduro of Venezuela, this time aimed at oil shipments between Venezuela and Cuba, a country that the administration has accused of propping up Mr. […]
YPFB President Says Incahuasi-5 Well To Add 3.5 MMcm/d Of NatGas Output
(Energy Analytics Institute, Ian Silverman, 5.Apr.2019) — Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) President Oscar Barriga says the Incahuasi-5 well, located 250 kilometers southwest of Santa Cruz department, will have a positive impact on Bolivia’s overall production profile. The Incahuasi-5 well will have a maximum production potential of 3.5 million cubic […]
Petrobras Announces TAG Sale Offer
(Petrobras, 5.Apr.2019) — Petrobras informs that, in the scope of the competitive sale process of 90% of Transportadora Associada de Gás SA (“TAG”), ENGIE group, jointly with the Canadian investment fund Caisse de Depot and Placement du Quebec (“CDPQ”), presented the best proposal, representing an Enterprise Value of R$ 35.1 […]
ENN Signs Heads Of Agreement Of Sales With Woodside Energy
(ENN Group, 5.Apr.2019) — ENN has signed a Heads of Agreement (HOA) with Woodside Energy for the procurement of 1.0 million tonnes of LNG per annum from Woodside’s portfolio for a period of 10 years, commencing in 2025. ENN Group CEO Mr. Zhang Yesheng and Woodside Energy CEO Peter Coleman […]
Ecopetrol Files Form 20-F For Fiscal Year 2018
(Ecopetrol, 5.Apr.2019) — Ecopetrol filed its annual report under Form 20-F for the fiscal year ended December 31, 2018 with the U.S. Securities and Exchange Commission (the “SEC”). With the filing of its annual report under Form 20-F the company complies with its reporting obligations with the U.S. Securities and […]
Indigo Natural Resources LLC Provides Operational Update
(Indigo, 4.Apr.2019) — Indigo Natural Resources LLC, a privately-owned natural gas and natural gas liquids company with assets in the Haynesville Shale, the Bossier Shale and the Holly Vaughn formation today provided an operational update focused on Indigo net production, midstream joint venture gathering throughput and year-end 2018 Indigo reserves […]
Venezuela flaring nearly 2 Bcf/d of gas as oil production falls
CARACAS, VENEZUELA (Pietro D. Pitts, Energy Analytics Institute, 4.Apr.2019, Words: 280) — Venezuela, home to the world’s largest oil reserves and one of Latin America’s larger oil producers, is flaring around 2 billion cubic feet per day (Bcf/d) of natural gas associated with the production of the country’s bread-and-butter commodity, […]
New Reference Price For Jet A-1 Fuel In Uruguay
(Energy Analytics Institute, Aaron Simonsky, 4.Apr.2019) — Uruguay will establish a new reference price for its Jet A-1 fuel as part of an initiative to position Uruguay on par with regional airports. Authorities from ANCAP and Uruguay’s Ministry of Industry confirmed that from 29 April 2019 that an adjustment will […]
Argentina Energy 2019: Oil & Gas, Lithium and Energy Transition
(Institute of the Americas, 4.Apr.2019) — On March 27-28, the Institute of the Americas convened its annual Energy Roundtable in Buenos Aires with the participation of over 100 representatives from the federal, provincial and city government, regulators, industry, academia and civil society. The two day Roundtable counted several high level […]
Phoenix Awarded Concession At Puesto Rojas Block In Argentina
(Phoenix, 4.Apr.2019) — Phoenix Global Resources plc has been granted an unconventional concession for its Puesto Rojas block in Mendoza province. The company has been notified by Mendoza Province that it has been successful in its application for an unconventional concession for the entire Puesto Rojas block. The new concession […]
Venezuela Blackouts Cut Oil Output by Half During March
(Bloomberg Fabiola Zerpa, 4.Apr.2019) — Power failures that plunged Venezuela into darkness for much of March also briefly slashed the country’s crude production by half, according to people familiar with the situation. Rolling blackouts across much of the country that started on March 7 paralyzed most of the country’s oil […]