(Moody’s, 21.Apr.2016) – Moody’s Investors Service upgraded ratings of several companies with operations in Argentina, with the outlook changed to stable from positive. The rating actions on the companies’ global scale ratings follow Moody’s upgrade on April 15, 2016 of Argentina’s government bond rating to B3 from Caa1, with the […]
IFC, China-Mexico to Invest $200 Mln in Citla
(IFC, 21.Apr.2016) – International Finance Corp. (IFC), a member of the World Bank Group, and the ChinaMexico Fund (CMF), a $1.2 billion private equity fund managed by the IFC Asset Management Company (AMC), will invest $200 million in Citla Energy, SAPI de CV (Citla or Citla Energy), a Mexican independent […]
Pemex and Mexichem Inform the Loss of 13 Workers
(Pemex, 21.Apr.2016) – Pemex’s CEO, JosĂ© Antonio González Anaya; Civil Protection National Coordinator from the Ministry of the Interior, Luis Felipe Puente, and Mexichem’s CEO, Antonio Carrillo, covered the Clorados 3 Plant of PetroquĂmica Mexicana de Vinilo (PMV) located in Coatzacoalcos, which is operated by Mexichem and co-owned by Pemex. […]
Pemex: PMV Plant in Coatzacoalcos Under Control
(Pemex, 20.Apr.2016) – The current situation in the Clorados 3 Plant of PetroquĂmica Mexicana de Vinilo’s (PMV) in Coatzacoalcos, is under control and presents no risk to the population. This was pointed out during a press conference by Pemex CEO JosĂ© Antonio González Anaya; the Governor of Veracruz, Javier Duarte; […]
PetroEcuador Highlights Benefits of Esmeraldas Workover
(Energy Analytics Institute, 19.Apr.2016, Clifford Fingers III) – EP PetroEcuador stands to gain the most from the recent workover to the Esmeraldas Refinery, reported the state company in an official statement. The primary benefit includes recuperating the 110,000 barrel-per-day capacity as well as increasing processing capacity, efficiency, and continuity while […]
Finance Ministry, Pemex Meet With Investors
(Pemex, 19.Apr.2016) – The Minister of Finance and Public Credit, Luis Videgaray, and the Pemex CEO JosĂ© Antonio González Anaya, met in New York with investors, analysts, and executives of financial institutions to emphasize the economic prospects of the company and investment opportunities that resulted from the implementation of the […]
PDVSA Workers Banned From Company for Corruption
(Energy Analytics Institute, Jared Yamin, 14.Apr.2016) — A number of PDVSA workers have been banned from the company for corruption and more are under investigation for the same, announced the country’s comptroller-general Manuel Galindo during an interview with television station Globovision. “Since 2002 a total of 2,000 cases have been […]
Finance Ministry, Public Credit Support Pemex
(Pemex, 13.Apr.2016) – Given the difficult situation of global low oil prices, Pemex faced a liquidity problem, while not a solvency one. In this context, Pemex continues to focus on two main courses: the adjustment of its cost structure and the implementation of a business strategy based on the Energy […]
Petrobras Says Production Reached 2.55 MMBoe/d in March
(Petrobras, 10.Apr.2016) – Petrobras’ oil and natural gas output in March reached 2.55 MMboe/d, including 2.36 MMboe/d produced in Brazil and 183,000 boe/d abroad. Average oil production in March was 2.02 MMb/d, down 3 percent compared to 2.09 MMb/d in the previous month. Domestic average output stood at 1.94 MMb/d, […]
BrasFELS Signs $141 Mln FPSO Contract
(Keppel Corporation Ltd. 7.Apr.2016) – Singapore’s Keppel Corp. Ltd. announced that its unit Keppel Offshore & Marine Ltd. (Keppel O&M), through its subsidiary, Keppel FELS Brasil SA’s BrasFELS shipyard has been awarded a Floating Production Storage and Offloading (FPSO) module fabrication and integration project by its repeat customer MODEC Offshore […]
Searcher Working on South Campeche 3D Seismic
(Searcher Seismic, 7.Apr.2016) – Searcher Seismic announced the South Campeche Ultracube 3D seismic reprocessing project offshore Mexico. The seismic project, totaling approximately 6,834 square miles (17,700 square kilometers), is a merge of three existing surveys. The Holok Alvardo 3D (2003), the Cequi 3D (2010) and the Boloi Norte-Balche-Xulum 3D (2003). […]
Gran Tierra Announces Peso Hedging Program
(Gran Tierra Energy Inc., 6.Apr.2016) – Gran Tierra Energy Inc. announced, through one of its wholly owned subsidiaries, recently transacted Colombian peso (COP) hedges with two banks, providing additional stability to forecasted cash outflows for approximately 110 billion COP or $36 million from June 2016 to May 2017. To complement […]
Gran Tierra Closes $100 Mln Notes Offering
(Gran Tierra Energy Inc., 6.Apr.2016) – Gran Tierra Energy Inc. announced that it has completed its previously announced offering of $100 million aggregate principal amount of 5.0% Convertible Senior Notes due 2021 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, […]
FACT SHEET: PetroEcuador refineries have 175 Mb/d capacity
HOUSTON, TEXAS (Clifford Fingers III, Energy Analytics Institute, 5.Apr.2016, Clifford Fingers III, Words: 88) – EP PetroEcuador’s 3 refineries — Esmeraldas, La Libertad and Shushufindi — had a combined processing capacity of 175,000 barrels per day (b/d) at year end 2015, reported the state company in an official statement. The […]
PascualesCuena Product Pipeline Online in May 2016
(Energy Analytics Institute, 5.Apr.2016, Clifford Fingers III) – Construction of the Pascuales-Cuenca product pipeline will allow EP PetroEcuador to develop a LPG transport and distribution system to supply the southern region of the country, reported the state company in an official statement. Construction of the pipeline will also allow the […]
PetroEcuador Exports Reached 131.4 MMbbls in 2015
(Energy Analytics Institute, 5.Apr.2016, Clifford Fingers III) – EP PetroEcuador reported crude exports of 131.4 million barrels (MMbbls) in 2015, which generated revenues of $5,477 million, reported the state company in an official statement. Derivative sales in the Ecuadorian domestic market were 92.7 MMbbls, which generated revenues of $3,440 million. […]
El Niño Pulling Down Venezuela’s Water Reserves
(Energy Analytics Institute, Piero Stewart, 1.Apr.2016) – Venezuela, which relies on hydroelectric energy to generate 62 percent of its electricity, could be overcome by power outages in coming months as water levels at many of its dams, including the large Guri, are at dangerously low levels. Water levels at Guri […]
Rosneft to Partner with PDVSA in Mariscal Sucre
(Energy Analytics Institute, Piero Stewart, 1.Apr.2016) – Russia’s Rosneft OAO and PDVSA signed an agreement for joint development of production, treatment and the sale of natural gas from the Mariscal Sucre project offshore. Rosneft and PDVSA will each hold a 50% interest in the venture which includes the fields Patao, […]
Venezuela Turns to Gold Rush to Prevent Economic Collapse
(Energy Analytics Institute, Piero Stewart, 1.Apr.2016) – Venezuela plans to immediately focus efforts on the exploitation and export of its massive gold resources located in Bolivar state in an attempt to avoid a financial default on its international obligations later this year. Resource-rich Venezuela’s Bolivar state contains gold reserves of […]
Petrobras’ New Program to Encourage Voluntary Severance
(Petrobras, 1.Apr.2016) – Petrobras launched a new Program to Encourage Voluntary Severance (PIDV), which will be open to all employees, regardless of their age or length of service at the company. The goal is to adjust its workforce to the needs of the Business and Management Plan, optimizing productivity and […]
Ecuador Considers Venezuela as Partner in Refinery
(Energy Analytics Institute, 30.Mar.2016, Clifford Fingers III) – While Ecuador continues to seek financing from foreign investors looking to invest in the estimated $13 billion Pacific Refinery project, the country continues to reserve an interest for Venezuela. “Venezuela is part of the project and is a strategic partner that will […]
Keppel FELS Delivers Another Two Rigs
(Keppel FELS, 27.Mar.2016) – Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), delivered two jackup rigs to Mexican company, Grupo R. Built to Keppel’s proprietary KFELS B Class design, the rigs, CANTARELL I and CANTARELL II, will be chartered to PEMEX, […]
Battery-hungry World Turns to South America’s ‘Lithium Triangle’
(Reuters, 15.Mar.2016) — Far from the soy and cattle that dominate its vast fertile pampas, Argentina harbors another valuable commodity that is rocketing in price and demand and luring newly welcomed foreign investors. Lithium, the so-called “white petroleum”, drives much of the modern world. It forms a small but essentially […]
GenPower, ExxonMobil Sign Framework for LNG Supply
(Golar LNG, 4.Mar.2016) — Golar GenPower Brasil Participações S.A., a joint venture between LNG Power Limited (UK), a standalone non-recourse subsidiary of Golar LNG Limited and GenPower Participações S.A., announced that it has signed a framework agreement for the supply of LNG to the natural gas fired power generation project […]
Statoil Strengthens Its Position In Uruguay
(Statoil, 15.Feb.2016) — Statoil has signed a farm-in agreement with Tullow to acquire a 35% working interest in offshore exploration block 15 in the Pelotas basin, deepening its position in Uruguay. “With this transaction, we are increasing our exposure to the upside potential of this untested geological setting. This is […]
Ecuador’s Refinery Dream Seems More A Fantasy
(S&P Global Platts, 15.Feb.2016) — It was supposed to be the biggest investment ever in Ecuador: $12 billion for a 300,000 b/d refinery and a kick-start to industrialization with a major petrochemical complex. After $1.2 billion and eight years of broken promises, the Eloy Alfaro Refinery of the Pacific near […]
Petrobras OTC 2015: Offshore Video
(Energy Analytics Institute, Jared Yamin, 30.Oct.2015) – Brazil’s state oil entity Petrobras discusses its challenges in the pre-salt during the Offshore Technology Conference in Houston, Texas.
Bolivia Starts Warnes Thermoelectric Plant
(Energy Analytics Institute, 9.Oct.2015) – The Warnes Thermoelectric Plant, located in Bolivia’s Santa Cruz department, will provide 200 megawatts (MW) of energy to the country’s electric grid during its first phase of operations, according to a statement posted on the website of Bolivia’s Vice Presidency. To-date, $171 million has been […]
Venezuela’s Torres Corrected During NY Meetings
(Energy Analytics Institute, Piero Stewart, 8.Oct.2015) – Rumors have it that Venezuela’s Finance Minister Rodolfo Marco Torres had to be corrected on a number of occasions while talking about the country’s financial situation. ***
Venezuelan Officials Visit with T&T’s Rowley
(Energy Analytics Institute, Piero Stewart, 8.Oct.2015) – A Venezuela delegation is expected to visit with Trinidad and Tobago Prime Minister K. Rowley, Venezuela finance minister Rodolfo Marco Torres writes in twitter post. The Venezuela delegation could be comprised of Torres, Foreign Minister Delcy Rodriguez, and Oil Minister Eulogio Del Pino. […]
OPEC Must Be Stronger on Geopolitical Front
(Energy Analytics Institute, Pietro D. Pitts, 8.Oct.2015) – “OPEC should convert itself into a stronger actor in geopolitical, geo-economics, and social areas as well in the permanent search for peace,” PDVSA radio reports in a weekly broadcast, citing Venezuela’s energy minister and PDVSA President Eulogio Del Pino. OPEC has had […]
Rosneft Drills Record Well in Venezuela
(Rosneft, 8.Oct.2015) – Rosneft, as part of a PetroMiranda JV including PDVSA and Gazprom Neft, has drilled an unprecedented horizontal well GG1-14 at the Junin-6 block. The well is unique for the shallow depth, only 1,140 feet or about 347 meters, of the reservoir interval and the length of horizontal […]
Petroecuador Says Time to Buy Light Crude
(Reuters, 6.Oct.2015, Alexandra Valencia) – Ecuador’s state-run oil company Petroecuador said it is ready to advance discussions with 24 companies interested in supplying light crude to the Andean country. The smallest OPEC member has said it wants to import crude for the first time in decades as light reserves are […]
Venezuela to Start Mariscal Sucre Project by YE:15
(Energy Analytics Institute, Pietro D. Pitts, 1.Oct.2015) – Venezuela will soon start offshore gas production at the Mariscal Sucre project. Production from Cardon IV block is currently at 300 million cubic feet per day (MMcf/d) and expected to reach 450 MMcf/d shortly, said PDVSA President Eulogio Del Pino during a […]
PetroCabimas to Drill Curazaito Exploration Well
(Energy Analytics Institute, Piero Stewart, 1.Oct.2015) – This will be the first exploration well to search for and confirm the presence of oil and gas in Curazaito in Zulia state, PDVSA says in radio broadcast. The well will be located in the Cabimas block on the eastern coast of Lake […]
Oil Price Collapse to Affect Venezuela Cash Flow
(Energy Analytics Institute, Pietro D. Pitts, 1.Oct.2015) – Due to the fall in oil prices, all of the oil companies and governments have experienced a strong negative impact to their cash flow. As such, the investment capacity of all the actors has declined enormously and a lot of large projects […]
Smuggling of Venezuelan Gasoline to Aruba to Continue
(Energy Analytics Institute, Pietro D. Pitts, 1.Oct.2015) – The smuggling of Venezuelan gasoline to Aruba and other countries will continue as long as a large gap between gasoline prices exists, said EnergyNomics President Carlos Rossi in an interview in Houston, Texas. “Contraband is a way to keep the military happy […]
![Trinidad & Tobago Gas Master Plan Final Report [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/01/pp-tt-gas-2015.png)
Trinidad & Tobago Gas Master Plan Final Report [PDF Download]
(Poten & Partners, 30.Sep.2015) — Trinidad & Tobago’s final master natural gas plan prepared for the Ministry of Energy and Energy Affairs as of September 2015 by Poten & Partners. ____________________
LatAmNRG: Heard on the Street 3Q:15
(Energy Analytics Institute, 30.Sep.2015) – Information in this section, provided by Energy Analytics Institute editors and reporters, is hearsay and thus should be treated as such. The names of our many sources have been withheld to protect their identities and family members in Venezuela. REGARDING VENEZUELA * China could ask […]
More Countries Hold Recoverable Shale Gas
(EIA, 25.Sep.2015) – The amount of unproved technically recoverable shale natural gas around the world has reached 7,576 Tcf, higher than previously estimated, according to a survey by the U.S.-based Energy Information Administration (EIA). New names were added to the list of countries with shale reserves. The U.S. holds 622.5 […]
Statoil Awards Wood Group Contract Offshore
(Statoil ASA, 22.Sep.2015) – Norway’s Statoil ASA, on behalf of the Peregrino license partners, has been awarding a contract to Wood Group to provide 4-year operations and maintenance for 2 wellhead platforms (Alpha and Bravo) and modification services for both units and the FPSO Peregrino in the Campos Basin, offshore […]
PetroEcuador Esmeraldas Refinery Restarts FCC Unit
(PetroEcuador, 18.Sep.2015) – PetroEcuador says activities initiated on September 11, 2015 to restart the fluid catalytic cracker unit at the Esmeraldas refinery, according to a statement posted to the state oil company’s website. The definitive restart of FCC unit is estimated for late-November 2015. The unit has undergone 14-months of […]
$1.2 Bln Esmeraldas Rehab Work Near Complete
(PetroEcuador, 18.Sep.2015) – PetroEcuador says that overhaul work is being performed on processing units at the 110,000 barrel per day (b/d) capacity Esmeraldas refinery that have deteriorated due to inadequate maintenance work, according to a statement posted to the state oil company’s website. Work is being performed on the catalytic […]
Petrobras Clarifies Gaspetro Details
(Petrobras, 17.Sep.2015) – Due to the article published in the press on the potential sale of Gaspetro, Petrobras clarifies that, as announced on June 29, 2015, a divestment plan has been approved totaling $15.1 bln for the 2-year period 2015 and 2016. Therefore, the company is considering divestment opportunities in […]
Lliquimuni Well Results by November 2015
(El Diario, 17.Sep.2015) – Results from the Lliquimuni exploration well are expected to be ready in late-October or early-November, reported the daily newspaper El Diario, citing Bolivia’s energy minister Luis Alberto Sánchez. Investments in the well — to be drilled to a total depth of approximately 3,200 meters — are […]
Petrobras Output Sets Record in August
(Petrobras, 16.Sept.2015) – Petrobras’ oil and natural gas production in Brazil and abroad reached 2.88 MMboe/d in Aug.2015, a new record. It is up 0.8% on the previous record of 2.86 MMboe/d set in Dec.2014. This volume is also up 4.5% on Aug.2014 (2.76 MMboe/d). Oil and natural gas production […]
Venezuela, Saudi Arabia Joint Commission
(Energy Analytics Institute, Piero Stewart, 15.Sep.2015) – Venezuela’s Foreign Minister and Vice President of International Affairs at PDVSA, Delcy RodrĂguez, accompanied by Minister of Commerce and Industry of Saudi Arabia Tawfiq bin Fouzan Alrabiah, opened the First High Level Joint Commission Venezuela-Saudi Arabia at the Antonio Jose de Sucre Casa […]
Venezuela Oil Sector Viable with $40/bbl
(Energy Analytics Institute, Piero Stewart, 15.Sep.2015) – “A $40 per barrel oil price is not a low price for Venezuela,” says Ramon Espinasa, oil economist at the Inter-American Development Bank (IDB), from Washington during an interview broadcast by Venezuelan radio station 99.9 FM. Venezuela’s oil sector is able to maintain […]
Petrobras Clarifies Details of Expense Cuts
(Petrobras, 15.Sep.2015) – Petrobras hereby responds to BM&FBovespa Official Letter 2851/2015-SAE, which requests the following clarifications: BM&FBovespa Official Letter 2851/2015-SAE      “We request that you provide clarification, by 9 a.m. on 9.Sep.2015, of the content of the article published by the newspaper Valor EconĂ´mico on 14.Sep.2015, entitled “Petrobras promises unprecedented expense […]
Venezuela’s Good, Bad Position
(Energy Analytics Institute, 14.Sep.2015) – In terms of decisions made by Venezuelan government, a former AVHI executive in Caracas shares his thoughts. “What is good for you is bad for everybody else, that’s not a good position for Venezuela,” EnergyNomics President Carlos Rossi tells Energy Analytics Institute in a phone […]