(BPTT, 2.Aug.2018) â BP Trinidad and Tobago announced its Angelin platform has arrived in T&T. Angelin, which will be BPTTâs 15th offshore platform, was fabricated in Altamira, Mexico. The topside and jacket sailed from Altamira on June 30. Over the next few weeks they will be installed off the south […]
Granger Says Guyana Energy Head Fit and Proper
(Department of Public Information, Guyana, Alexis Rodney, 2.Aug.2018) â President David Granger said today that he is confident of the work that will be executed by the recently appointed head of the newly established Department of Energy, Dr. Mark Bynoe as the unit takes off the ground. Department of Energy […]
Shell Offers 1H:18 LatAm Updates
(Energy Analytics Institute, Jared Yamin, 1.Aug.2018) â Royal Dutch Shell plc announced the following updates during the first half of 2018. Mexico In the deep-water bid round in Mexico in January for the Gulf of Mexico, Shell won four exploration blocks on its own, four with its partner Qatar Petroleum […]
Shell Provides 3Q:18 Outlook Update
(Energy Analytics Institute, Jared Yamin, 1.Aug.2018) â Royal Dutch Shell plc offered the following outlook for the third quarter of 2018. Compared with the third quarter 2017, Integrated Gas production is expected to be 40 â 70 thousand boe/d lower, mainly due to divestments and higher maintenance. LNG liquefaction volumes […]
Pemex Has or Doesnât Have Money?
(Energy Analytics Institute, Aaron Simonsky, 1.Aug.2018) â If Mexicoâs Pemex doesnât have the necessary funds to invest in deep water or shale activities, how is it the state oil company will have funds to invests in new refineries as proposed by President-elect AndrĂ©s Manuel LĂłpez Obrador? Join the discussion below […]
Pemex Inaugurates 1st Petrol Station with New Image
(Pemex, 1.Aug.2018) â The CEO of Pemex TransformaciĂłn Industrial stated that the new concept will help the franchise maintain its leadership in the national marketâ The first âFlagshipâ service station of the Pemex franchise, located in the colonia Centro in the municipality of AtizapĂĄn Santa Cruz, State of Mexico, was […]
Citgo Raises $$750,000 for Muscular Dystrophy Association
(Citgo Petroleum Corporation, 31.Jul.2018) â The Muscular Dystrophy Association (MDA) depends on partnerships to fulfill their mission, and as their largest corporate sponsor, Citgo Petroleum Corporation hosts the annual MDA Driving for a Cure golf outing for employees and contractors from the Citgo Lemont Refinery. This year, on June 26, […]
Mexico Oil Output to Trend Upwards in 2027
(Energy Analytics Institute, Aaron Simonsky, 31.Jul.2018) â Mexicoâs oil production will cease to decline in 2025. Thatâs according to details of a report published by S&P Global Platts Energy Analyst and Consultant Manager Javier DĂaz during an energy forum. DĂaz announced details of projections for Mexican crude oil production until […]
PetroTrin Refinery Importing Shortfall
(Energy Analytics Institute, Ian Silverman, 31.Jul.2018) â Thatâs according to reports in a local newspaper. âThe refinery at PetroTrin has a capacity of 140,000 barrels of oil per day (bopd); the company produces about 42,000 bopd â a shortfall of about 100,000 bopd, which must then be imported,â reported the […]
Wheatley Falls: Latest Casualty of Energy Scandal
(Jamaica Gleaner, Edmond Campbell, 31.Jul.2018) â The ongoing scandal that began at the state-owned oil refinery Petrojam has claimed its latest casualty with the resignation yesterday of Andrew Wheatley as minister of science and technology. This follows several weeks of allegations of nepotism and cronyism that triggered investigations from several […]
Granger Govât Overwhelmed by Enormity of Tasks
https://www.stabroeknews.com/2018/opinion/letters/07/31/granger-govt-overwhelmed-by-enormity-of-tasks-in-oil-and-gas-sector/ (Stabroek News, 31.Jul.2018) â Dear Editor, The discovery of oil by ExxonMobil in 2015 has put Guyana on a trajectory to receiving significant revenues. A recent Bloomberg article pointed out that of the 10 wells that ExxonMobil has drilled, 8 are commercially viable â with an estimated 4 billion […]
Pampa EnergĂa Reports on Deferral of Edenor Dealings
(Pampa EnergĂa S.A., 31.Jul.2018) â Pampa EnergĂa S.A. announced its electricity distribution subsidiary Empresa Distribuidora y Comercializadora Norte (âEdenorâ) agreed with the Ministry of Energy to differ 50% of the Own Distribution Cost (âCPDâ) variation adjustment set forth under the Concession Agreement corresponding to the semester February-August 2018, to be […]
Venezuela the Clear Leader in Oil Reserves
(UPI, Daniel J. Graeber, 31.Jul.2018) â An annual review of energy trends from Italian energy company Eni found the United States is a “game changer,” though its Venezuela with the largest reserves. In a report running nearly 90 pages, the Italian company’s 17th annual review found total oil reserves declined […]
Once Oil Wealthy, Maracaibo Struggles to Keep Lights On
(Reuters, Mayela Armas, 31.Jul.2018) â Across Maracaibo, the capital of Venezuelaâs largest state, residents unplug refrigerators to guard against power surges. Many only buy food they will consume the same day. Others regularly sleep outside. The rolling power blackouts in the state of Zulia pile more misery on Venezuelans living […]
Shell Brazil Invests in FPSO Tanks Solution
(World Oil, 31.Jul.2018) â Aberdeen-based inspection technology and service provider for the oil and gas industry, Innospection, Shell Brazil and SENAI CIMATEC technology institute in Salvador, Brazil, have recently signed a partnership agreement to develop a robot-based technology for in-service inspection of cargo oil tanks of FPSOs. This robot system […]
Peregrino Module Sails to Brazilian Platform
(Energy Voice, David McPhee, 31.Jul.2018) â Watch as Equinorâs Peregrino modules set sail en route to the platform in Brazil to begin Phase 2 of the project. Watch: Equinor Peregrino modules sail to Brazilian platform The modules for the drilling facility have already been delivered but will now undergo stacking […]
Ecopetrol Announces Changes to Management Structure
(Ecopetrol, 31.Jul.2018) â Ecopetrol S.A. reports that at its session on July 27, 2018, Ecopetrol’s Board of Directors approved adjustments to the company’s management structure in addition to those announced last July 4, in response to the Ecopetrol Group’s needs relating to growth, competitiveness and transformation. The Offices of the […]
Power Outage Hits Most of Venezuela’s Capital
(AP, 31.Jul.2018) â Most of Venezuela’s capital is without power following a failure at an electrical plant. Energy Minister Luis Motta Dominguez said on Twitter that Tuesday’s outage has left 80 percent of Caracas without electricity, as well as parts of neighboring Miranda and Vargas states. He offered no further […]
Guyanaâs âAstonishingâ Future
(Trinidad Express, David Renwick, 31.Jul.2018) â The USâs leading oil company, ExxonMobil, continues to make discovery after discovery in its Stabroek block offshore Guyana, the latest being Longtail 1 â its eighth so far. The company says this âcreates the potential for additional resource development in the south east area […]
Guyana: Will its Oil Boom Benefit the People?
(Al Jazeera English, 30.Jul.2018) â Oil companies have identified massive offshore reserves in Guyana, one of South America’s poorest nations. New estimates last week report that more than 4 billion barrels of oil could be extracted from a region known as the Stabroek block, where ExxonMobil expects to start pumping […]
US Charges Point to Rampant Corruption at PDVSA
https://www.insightcrime.org/news/analysis/us-charges-point-to-rampant-corruption-at-venezuela-state-oil-company/ (InSight Crime, 30.Jul.2018) â US authorities are charging a network of Venezuelan elites and international financial actors with laundering over a billion dollars stolen from the state-owned oil company, illustrating once again how corruption has ransacked the South American country, and why it can be considered a mafia state. […]
Mexico’s Next President Promises Pemex Investment
(Bloomberg, Amy Stillman, 30.Jul.2018) â Mexicoâs incoming president named a new chief executive officer for Pemex and promised government investment of 75 billion pesos ($4 billion) in the oil sector, in a bid to revive the state-owned oil company. Andres Manuel Lopez Obrador tapped longtime political ally Octavio Romero Oropeza, […]
Review Guyana Oil Spill Plans Before Signing Contracts
(Kaieteur News, 30.Jul.2018) â Before any contract is signed with an oil operator, the government should require that it presents and obtains approval for contingency plans in the case of emergency. According to the Natural Resource Governance Institute (NRGI), these contingencies should include the availability of equipment and expertise to […]
Petrofac Introduces Partner In Mexico
(Petrofac Limited, 30.Jul.2018) â Petrofac Limited signed an agreement to sell 49% of the Companyâs operations in Mexico(1)(2), including Santuario, Magallanes and Arenque, to Perenco (Oil & Gas) International Limited (âPerencoâ). The transaction is subject to approval by the Federal Competition Commission of Mexico (COFECE), which is expected in Q4 […]
Hold It Right There, Petrotrin!
(The Sterling Report, Yanique Leiba-Ebanks, 29.Jul.2018) â Petroleum Company of Trinidad and Tobago Ltd (affectionately known as Petrotrin) is the state-owned oil company in Trinidad and Tobago. Its crude oilfields are located across the south-western peninsula of Trinidad, off the east coast of Trinidad, and in Point Fortin. The country’s […]
Trafigura Seeks to End Ricardo Eliçabe Conflict
(Energy Analytics Institute, Ian Silverman, 28.Jul.2018) â Negotiations continue to advance to overcome a labor related conflict at the Ricardo Eliçabe refinery in BahĂa Blanca. The refinery, acquired last May by the Dutch group Trafigura, has been paralyzed for almost two months, reported the daily newspaper Clarin. The labor conflict […]
Sproule To Publish Bolivian Reserve Report
(Energy Analytics Institute, Ian Silverman, 28.Jul.2018) â Sproule International Limited, the foreign consortium that will quantify and certify Boliviaâs hydrocarbon reserves, plans to publish its reserve report in late August 2018. The consortium, which was awarded the project earlier this year for $750,000, had originally planned to publish the report […]
Chuquisaca Signs Multi Billion Oil Deal
(Energy Analytics Institute, Ian Silverman, 28.Jul.2018) â The agreement, signed between the Bolivian government and authorities from the department of Chuquisaca provides for initiation of work in more than 8 areas. Announcement of the planned investments came after meetings between the government, and authorities and representatives from different sectors of […]
Colombia Must Boost Investments 55% to Maintain Output
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) â The South American country needs to boost investments from an projected $4.5 billion in 2018 to a level of $7 billion over the next four years in order to maintain oil production and also increase proven reserves. The investments are needed in order […]
10MW LNG Power Plant for The Nest
(Jamaica Gleaner, Steven Jackson, 27.Jul.2018) â A tripartite deal is in the works for the development of a power plant at CB Group’s expansive property and future home called The Nest, that is meant to supply all the poultry company’s energy needs. The disclosures so far indicate that Jamaica Public […]
Petrobras Targets China with New Crude Oil
(Reuters, Florence Tan and Alexandra Alper, 27.Jul.2018) â Brazilâs state-controlled energy company Petrobras plans to push more crude oil to top importer China by marketing a new medium-sweet grade that could be shipped from October, two sources with knowledge of the matter said. Petrobras expects to start pumping pre-salt oil […]
Pemex Reports 2Q:18 Sales Rose 36%
(Pemex, 27.Jul.2018) â The company recorded operating yields of 120 billion pesos During the first quarter of 2018, it achieved an EBITDA of 288 billion pesos and an EBITDA margin 35 Today, PetrĂłleos Mexicanos announced its financial and operating results for the second quarter of 2018, which show a total […]
Venezuela Inflation to Hit 1 Mln Percent. Thanks, Socialism.
(Washington Post, Megan McArdle, 27.Jul.2018) â According to the International Monetary Fund, by the end of the year, the annual inflation rate in Venezuela will reach 1Â million percent. A number like that is hard to grasp. Simply put, a candy bar that cost $1 today would cost $10,000 at the […]
Venezuela Gasoline Price Likely to Rise
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) â The price of gasoline in Venezuela is likely to increase. For some services such as gasoline, there will be a relative increase in price, reported the daily newspaper El National, citing EcoanalĂtica Director AsdrĂșbal Oliveros. âIt’s as if they were decreeing an unannounced […]
Hiking Gasoline Wonât Fix Venezuelaâs Fiscal Problem
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) â Hiking the price of gasoline in Venezuela wonât fix the OPEC countryâs fiscal problem. Thatâs according to recent statements from an opposition leader. âAlthough the price of fuel has to be raised, it will not be enough to solve the [countryâs] fiscal problem,â […]
Falling Oil Output Squeezes Maduro Government
(Energy Analytics Institute, Piero Stewart, 27.Jul.2018) â The continued decline in Venezuelaâs oil production acts to squeeze the government of President Nicolas Maduro, says an Ecoanalitica executive. âThe fall in oil production puts more restriction on the government,” said Ecoanalitica Director Asdrubal Oliveros during an interview with Shirley Varnagy on […]
Bolivian Groups Strike Over Electric Rates
(Energy Analytics Institute, Jared Yamin, 26.Jul.2018) â Different social organizations in the city of Trinidad, capital of Beni, staged a 24-hour civic strike to reject electricity rates, reported the daily newspaper La RazĂłn. ***
SPS Expects Urdaneta Field Output Increase
(Energy Analytics Institute, Piero Stewart, 26.Jul.2018) â Southern Procurement Services (SPS) expects production from the Urdaneta Field in Zulia state to increase to 19,000 barrels per day (b/d) from 12,000 barrels per day in 45 days due to the purchase of Russian and Ukrainian equipment. âWe will reach 19 thousand […]
Advantage Lithium Closes Financing
(Energy Analytics Institute, Ian Silverman, 26.Jul.2018) â Advantage Lithium Corp. closes private placement. In the process, the company issued 15,585,956 common shares for aggregate gross proceeds to Advantage Lithium of C$12,001,186. Pursuant to an agency agreement, Advantage Lithium will pay a cash commission of 6% on a portion of the […]
Petrotrin Board, Union Disagree to Agree
(Trinidad and Tobago Newsday, Carla Bridglal, 26.Jul.2018) â The board of Petrotrin has outlined a plan to reorganise and restructure the state oil company in a bid to make it more competitive and become a viable asset to the people of Trinidad and Tobago. The unions, including the most vocal […]
Atlantic Empowers Employees for Process Safety
(Trinidad and Tobago Newsday, Carla Bridglal, 26.Jul.2018) â Atlantic CEO Dr Philip Mshelbila and BPâs vice president Group Process Safety Central Rob DiValerio have highlighted the central role of employees in the systems that protect natural gas plants from leaks and other failures. The two headlined the recently concluded seventh […]
Pemex to Carry Out Maintenance On El Señor del Mar
(Pemex, 26.Jul.2018) â The works will not affect the production goals established by Pemex for the current year Starting this Saturday, July 28th and until the 4th of August, PetrĂłleos Mexicanos, through Pemex ExploraciĂłn y ProducciĂłn (Pemex Exploration and Production), will perform scheduled maintenance work on the tanker vessel YĂșum […]
Pemex Aims to Reduce CO2 Emissions by 25% by 2021
(Pemex, 26.Jul.2018) â Environmental protection and sustainability, the governing principles of the State-Owned Productive Companyâs work The CEO of PetrĂłleos Mexicanos, Carlos Treviño, inaugurated the 7th Environmental Conferences this morning For PetrĂłleos Mexicanos, environmental protection and sustainable development are high-priority values. Therefore, the State-Owned Productive Company expects to reduce its […]
EIA Beta Interactive Data Analysis
(Energy Analytics Institute, Ian Silverman, 26.Jul.2018) â Beta data from the EIA provide users with an interactive way to analyze multiple petroleum data. According to the most recent beta crude oil reserve data provided by the US-based Energy Information Administration, two countries in the Latin American region make the list […]
Bolivia To Start Work on Transmission Line to Argentina
(Energy Analytics Institute, Ian Silverman, 26.Jul.2018) â In two or three weeks, Bolivia expects to start work on an electrical transmission line that will allow it to export energy to Argentina. The lines could be finished in 2019 and allow the small land-locked country to export between 80 and 120 […]
YLB Expects Lithium Certification in December
(Energy Analytics Institute, Ian Silverman, 26.Jul.2018) â Bolivia announced the international certification for the countryâs lithium reserves in Salar de Uyuni will be delivered in December of 2018. The certification work is being carried out by a US company, reported the daily newspaper El Diario, citing Yacimientos de Lito Bolivianos […]
BPTT Eyes Nine Potential New Developments Over 10 Years
(BPTT, 25.Jul.2018) â BP Trinidad and Tobagoâs long-term plan could potentially see the company investing as much as $8 billion dollars in T&T, in 9 new developments in the next 10 years. This was announced by Claire Fitzpatrick, new BPTT president at a media event held at BPTTâs corporate offices […]
Machado Says PDVSA Converted into âJunkâ
(Energy Analytics Institute, Piero Stewart, 25.Jul.2018) â PDVSA has been converted into âjunk or scrapsâ by the administration of the current Venezuelan president. Thatâs according to statements from Venezuelan opposition leader Maria Corina Machado. Her statements were made during a meeting with local media and posted to her twitter account […]
Petroleum Geology of Mexico and the Northern Caribbean
(The Geological Society, 25.Jul.2018) â The Gulf of Mexico is a world class prolific hydrocarbon system. As a result of recent energy reform the Mexican sector of this basin has been open to international companies for the first time through a series of competitive licence rounds. The first phase of […]
ExxonMobil Raises Stabroek Block to More Than 4 Bln Bbls
(ExxonMobil, 23.Jul.2018 ) â ExxonMobil has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a third phase of development and consideration of two additional phases. The increase follows completion of […]