(Ovintiv, 14.Nov.2024) â Ovintiv Inc.entered into a definitive purchase agreement to acquire certain Montney assets from Paramount Resources Ltd., in an all-cash transaction valued at approximately $2.377bn (C$3.325bn). Upon closing, the acquisition will add approximately 70 MBOE/d of production (approximately 25 Mbbls/d of oil and condensate), 900 net 10,000 foot equivalent […]
Ecopetrol Eyes Greater Gas Availability for Dec. 2024
(Energy Analytics Institute, 14.Nov.2024) â BogotĂĄ-based Ecopetrol continues with efforts aimed at delivering natural gas to the Colombian market. To this end, the state-owned company plans to offer a firm 18 GBTUD of gas in additional to the 16 GBTUD announced last week, for a total of 34 GBTUD, the company […]
Citgo Petroleum Reports 3Q:24 Results
(Citgo, 14.Nov.2024) â Citgo Petroleum Corporation reported its 2024 third quarter financial and operational results. High throughput volume contributed to a third quarter net income of $66mn, EBITDA (1) of $281mn, and Adjusted EBITDA of $290mn compared with a net loss of $25mn, EBITDA of $162mn and Adjusted EBITDA of […]
Mexico to present long-term PEMEX plan
MEXICO CITY, MEXICO (By S&P, 14.Nov.2024, Words: 840) â Mexico’s new government is expected Nov. 13 to present its long-term plan for Pemex as it prepares to modify the state oil and gas company’s bylaws to streamline its operations. Pemex management has given some hints at what is to be […]
Colombian Govât Eager for Post-fossil Fuels Economy. But Costs are a Barrier
BOGOTA, COLOMBIA (AP, 14.Nov.2024) â Colombiaâs fiery left-wing President Gustavo Petro is one of the biggest opponents of fossil fuels on the world stage today, with speeches that lump oil and coal with cocaine as his countryâs âthree poisons.â Heâs set a goal of weaning Colombia off those fossil fuels, […]
Woodside’s Trion development cuts first steel for fabrication of FPU
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 14.Nov.2024) â Australian energy giant Woodside Energy announced the start of steel fabrication for the semi-submersible floating production unit (FPU) for its operated Trion development offshore Mexico where first oil production is slated for 2028. The first cutting of steel for the […]
Massive New IPO to Hoist Venture Global Into Energy Elite
(Bloomberg, 14.Nov.2024) â Venture Global LNG Inc. is poised to join the upper echelon of US energy companies that includes Occidental Petroleum Corp. and PG&E Corp. with one of the worldâs biggest IPOâs of the year. The Gulf Coast natural gas exporterâs plan to file for an initial public offering […]
ARX: An Adventure in the World of Engineering and DesignÂ
(Pini Group, 14.Nov.2024) â By expanding its expertise and integrating several complementary competencies through both organic growth as well as mergers and acquisitions over the last few years, Pini Group has undergone a significant evolution, transforming into a new entity. This growth and diversification have turned the group into a […]
Paratus Successfully Uplists to Euronext Oslo BĂžrs
(Energy Analytics Institute, 13.Nov.2024) â Paratus Energy Services Ltd.‘s shares have been transferred from Euronext Growth Oslo and admitted to trading on Oslo BĂžrs under the same ticker as on the Euronext Growth Oslo, “PLSV”. The action is effective on 13 Nov. 2024, Parts announced 13 Nov. 2024 in an […]
Pemex lays out strategic lines for 2024-2030
MEXICO CITY, MEXICO (Pemex, 13.Nov.2024, Words: 833) â During the morning conference “las mañaneras del pueblo”, held by Mexican President Dr. Claudia Sheinbaum Pardo, PetrĂłleos Mexicanos (Pemex) CEO VĂctor RodrĂguez Padilla introduced the proposed strategic lines for the company for 2024-2030 term to be implemented to strengthen the institution, as […]
RSPO Members Adopt Principles and Independent Smallholder Standard
(RSPO, 13.Nov.2024) â Following the annual Roundtable Conference on Sustainable Palm Oil (RT2024), RSPO Members voted to adopt the 2024 RSPO Principles and Criteria (P&C) and Independent Smallholder (ISH) Standard during the 21st RSPO General Assembly (GA21). The adoption marks a new chapter in realising the global partnership’s vision to […]
Exxon, Hess and CNOOC Hit 500 MMbbls Milestone Offshore Guyana
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 13.Nov.2024) â ExxonMobil Guyana Limited and its Stabroek Block co-venturers, Hess Corporation and CNOOC reached an offshore oil production milestone of 500 million barrels of oil in under 5 years. “Our unrivaled success in developing Guyana’s oil resources at an industry-leading pace, […]
EP PetroEcuador Eyes Exports of 7,920,000 bbls
(Energy Analytics Institute, 13.Nov.2024) â Between Nov. 2024 and Jan. 2025, EP PetroEcuador looks to export 7,920,000 barrels of crude oil, generating revenues of approximately $496mn. The projected exports and revenues highlight the importance of international oil trade as a vital source of income for Ecuador, the state-owned company announced […]
Coterra Reveals Accretive Permian Basin Acquisitions
(Coterra, 13.Nov.2024) â Coterra Energy Inc. has entered into two separate definitive agreements to acquire certain assets of Franklin Mountain Energy and Avant Natural Resources and its affiliates for aggregate consideration of $3.95bn, consisting of $2.95bn of cash and $1bn of Coterra common stock, issued to one of the sellers, […]
GeoPark Reports Exploration Success at Confluencia Norte
(Chad Archey, Energy Analytics Institute, 12.Nov.2024) â GeoPark Limited announced the successful start of production in the Confluencia Norte Block in Rio Negro, Argentina. This marks a major de-risking achievement in GeoPark’s partnership with Phoenix Global Resources (PGR) in the Vaca Muerta formation. The Confluencia Norte Block (GeoPark non-operated, 50% […]
Touchstone Reports 3Q:24 Results (PDF Download)
(Touchstone, 13.Nov.2024) â Touchstone Exploration Inc. reported financial and operating results for the three and nine months ended 30 Sep. 2024 and updated 2024 guidance. Third Quarter 2024 Financial and Operating Highlights âą Achieved average quarterly production of 5,211 boe/d (75% natural gas), a 54% increase relative to 3,391 boe/d […]
Ecopetrol Reveals 3Q:24 Results (PDF Downloads)
(Ecopetrol, 12.Nov.2024) â For the nine months of 2024 (9M24), the Ecopetrol Group has proved once again its ability to overcome challenges and turn them into opportunities through determination and resilience. Despite a defiant global environment, marked by fluctuations in international oil prices and adjustments in global supply and demand, […]
Sources Say Exxon to Sell Older Permian Assets to Hilcorp in $1bn Deal
(Reuters, 12.Nov.2024) â Top U.S. oil producer Exxon Mobil Corp. has agreed to sell conventional oil drilling assets in the Permian Basin of Texas and New Mexico to privately-owned Hilcorp Energy for around $1 billion, four sources familiar with the matter told Reuters. The deal follows a trend of U.S. oil […]
GeoPark and Hocol Confirm Finds, Exploration Progress in Llanos Basin Blocks
(GeoPark, 12.Nov.2024) â GeoPark announces the achievements made in 2024 together with its partner Hocol, a subsidiary of the Ecopetrol Group, in the joint exploration of the Llanos 86, Llanos 87, Llanos 104, Llanos 124 and Llanos 123 blocks in the Llanos basin, Colombia. Llanos 123 Block discoveries and delimitation […]
Oxy Reports 3Q:24 Results, Updates on OxyChem (PDF Downloads)
(Oxy, 12.Nov.2024) â Occidental announced net income attributable to common stockholders of $964mn, or $0.98 per diluted share and adjusted income attributable to common stockholders of $977mn, or $1.00 per diluted share for the third quarter of 2024. “Strong operational performance across all segments has resulted in our highest quarterly […]
TechnipFMC bags iEPCI contract for TotalEnergiesâ GranMorgu offshore Suriname
HOUSTON, TEXAS (Piero Stewart, Energy Analytics Institute, 14.Nov.2024, Words: 226) â Technology provider TechnipFMC has been awarded a major integrated Engineering, Procurement, Construction, and Installation (iEPCI) contract by TotalEnergies for its GranMorgu project on Block 58 offshore Suriname. TechnipFMC classifies a “major” contract as one with a value that exceeds […]
Cheniere Publishes Updated Peer-Reviewed LNG Life Cycle Assessment
(Cheniere, 12.Nov.2024) â Cheniere Energy, Inc. announced the publication of an updated life cycle assessment (LCA) study for greenhouse gas (GHG) emissions intensities of the company’s liquefied natural gas (LNG). This peer-reviewed study includes a novel gas-pathing algorithm that further improves the modeling of GHG emissions across Cheniere’s supply chain, […]
Nuvve Provides 3Q:24 Financial Update
(Nuvve Holding Corp., 12.Nov.2024) â Nuvve Holding Corp., a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform that enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, today provided a third quarter 2024 […]
ADNOC Gas Reports Strong 3Q:24 Results; BODs Approves Strategy Update
(ADNOC, 11.Nov.2024) â ADNOC Gas plc and its subsidiaries announced strong earnings for the third-quarter 2024 (3Q:24), with net income increasing 11% year-on-year (YoY) to $1.24bn, beating Bloomberg consensus for the quarter. The announcement of the company’s 3Q:24 results coincides with ADNOC Gas’ Board of Directors approval of an updated […]
Copec Launches Gogoro Battery Swapping and Smartscooters in Chile
(Gogoro, 11.Nov.2024) â Gogoro Inc., involved in battery-swapping ecosystems that enable sustainable mobility solutions for cities and Copec, a Latin American energy company, announced they were launching the first two-wheel battery swapping platform and Smartscooters in Chile. “It is exciting to see the Gogoro ecosystem expanding in Latin America, first […]
Petrobras Commences Commercial Operations UPGN in Rio de Janeiro
(Energy Analytics Institute, 11.Nov.2024) â PetrĂłleo Brasileiro S.A. (Petrobras) said the Natural Gas Processing Unit (UPGN), located at the Boaventura Energy Complex (ItaboraĂ, RJ) commenced commercial operation. The UPGN is currently operating with its first module, which has the capacity to process 10.5 million mÂł/day (MMcm/d) of gas, Petrobras revealed 11 […]
‘Micro-Documentaries’ Sound the Climate Alarm for Global South at COP29
(Rockefeller Foundation, 11.Nov.2024) â As part of Human Development, Children and Youth, Health, and Education Day at the United Nations Climate Change Conference in Baku, Azerbaijan (COP29), a new series of micro-documentaries highlighting the effects of the climate crisis and its disproportionate impact on the Global South has been released, […]
Noble Announces Major Shareholder Notification
(Energy Analytics Institute, 11.Nov.2024) â Pursuant to Section 30 of the Danish Capital Markets Act, Noble Corporation plc announced receipt of a major shareholder notification from First Eagle Investments Management, LLC. First Eagle notified Noble on 8 Nov. 2024 that, as of 5 Nov. 2024, the First Eagle holdings of shares […]
Hot Chili Adds La Verde Cu Mine to its Costa Fuego Coastal Copper Hub
(Hot Chili Limited, 11.Nov.2024) â Hot Chili Limited entered into a three-year Option Agreement to acquire a 100% interest in the historical La Verde open pit copper mine. La Verde is located in the core of the historical Domeyko mining district and lies approximately 30 km south of the company’s […]
Petrobras Starts Commercial Operation of Boaventura Energy Complexâs NGPU
(Petrobras, 11.Nov.2024) â Since 10 Nov. 2024, the Natural Gas Processing Unit (NGPU), situated at the Boaventura Energy Complex (ItaboraĂ, RJ), has been commercially operating its first module, which is capable of processing 10.5 million mÂł/day. Once the second module becomes operational, probably by the end of the year, the […]
Touchstone reports on Cascadura test well results
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 11.Nov.2024, Words: 893) â Touchstone Exploration Inc. announces the completion of Cascadura-2ST1 and Cascadura-3ST1 well testing. Highlights
RSPO Roundtable Calls for Bold, New Approaches to Transform Sustainable Palm Oil
(Roundtable On Sustainable Palm Oil, 11.Nov.2024) â Building upon two decades of impact, the Roundtable on Sustainable Palm Oil (RSPO) has called for more concerted efforts to scale innovation and drive transformative and systemic change within the sector. Supported by Thailand’s Ministry of Agriculture and Cooperatives, the RSPO’s Annual Roundtable […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 8 Nov. 2024
(Energy Analytics Institute, 8.Nov.2024) â LatAm NRG highlights, headlines and “heard on the street,” for the week ended 8 Nov. 2024. âArgentina: YPF execs. met in Buenos Aires w/ the Chancellor of Hungry to discuss the Argentina LNG project. âEcuador: Ecuador is looking to acquire 195MW from private cos. in […]
Fitch Maintains Ecopetrol’s Overall Credit Rating at BB+
(Energy Analytics Institute, 8.Nov.2024) â Fitch Ratings on 6 Nov. 2024 revealed that its was maintaining its global credit rating for Ecopetrol at BB+ with a stable outlook. However, Fitch, in a report on Ecopetrol and Colombia, downgraded the Standalone Credit Profile (“SCP”) from ‘bbb’ to ‘bbb-‘ while it affirmed the national long-term and short-term ratings of Ecopetrol at ‘AAA […]
Argentina’s YPF advances VMOS and Oldelval pipeline projects
MEXICO CITY, MEXICO (Pietro D. Pitts, Energy Analytics Institute, 8.Nov.2024) â State-owned YPF SA continues to advance various midstream projects on Argentina’s Atlantic coast, in particular the 2 tranche Vaca Muerta South (VMOS) and the Oldelval pipeline. Work on VMOS has reached the 50% mark.
Woodside Awards Contract to Karratha-based Winyama Contracting
(Woodside, 8.Nov.2024) â Woodside (Woodside Burrup Pty Ltd.) has awarded its largest-ever Traditional Owner construction contract to Karratha company Winyama Contracting Group for the delivery of civil works for the Pluto Train 1 Modifications project. Winyama Contracting Group will be working alongside Kellogg Brown & Root Pty Ltd, Woodsideâs Engineering […]
YPF Reports 3Q:24 Results (PDF Downloads)
(YPF, 8.Nov.2024) â Argentine state-owned YPF SA reported third-quarter 2024 financial and operational results, including details related to shale production in Argentina, Capex, the Vaca Muerta South project, and exports to Chile. ____________________
EXMAR Reports 3Q:24 Results, Opens EXMAR LPG France (PDF Download)
(EXMAR, 8.Nov.2024) â EXMAR NV reported its third-quarter 2024 results and provided an operational update related to the company opening a new French entity, EXMAR LPG France, which will own and operate 6 newbuild dual fuel LPG/NH3 Midsize Gas Carriers (MGC), being constructed at HMD MIPO dockyard in Korea. ____________________
Petrobras Comments on Shareholder Remuneration
(Petrobras, 7.Nov.2024) â Petrobras informs that its Board of Directors (CA), in a meeting held today, approved the payment of interim dividends in the amount of R$ 17.12bn, equivalent to R$ 1.32820661 per common and preferred share in circulation, as an anticipation of the remuneration to shareholders related to the […]
KBR Wins FEED Contract for Sur LNG Train 4 Project in Oman
(Energy Analytics Institute, 7.Nov.2024) â KBR has been awarded a front-end engineering design (FEED) contract for the expansion of the Qalhat LNG complex in Sur, Oman. Under the FEED contract, KBR will provide engineering services for the complex’s fourth LNG train, which will have a capacity of 3.8 million tons […]
Flex LNG Secures TC Extension for Flex Courageous and Flex Resolute
(Flex LNG, 7.Nov.2024) â Flex LNG Ltd agreed with the Charterer of Flex Courageous and Flex Resolute, a Supermajor, to amend the existing Time Charter Agreements (“TC”) for the two LNG carriers where the parties have agreed a new firm period from 2029 to 2032 which may be extended by […]
ADIPEC 2024: Looking to Accelerate Sustainable Socioeconomic Progress
(DMG Events, 7.Nov.2024) â ADIPEC 2024 has cemented its position as one of the world’s most influential and commercially successful energy events, with a record number of attendees, industry executives and international ministers uniting to accelerate sustainable socioeconomic progress for the world. Highlights: Held under the theme of ‘Connecting Minds. […]
DXT Commodities Delivers First MedMax LNG Cargo to Asia
(DXT Commodities, 7.Nov.2024) â A ceremony graciously hosted by Dongguan Daosen marked a number of milestones for the partners involved, Shenzhen Gas (via its subsidiary Sino-Benny LPG), DXT Commodities, Hartree Partners and Dongguan Energy (via its subsidiary Dongguan Daosen Natural Gas), in bringing the Dapeng Princess and her cargo from […]
Adaptation Gap Report 2024 [PDF Download]
(UNEP, 7.Nov.2024) â As climate impacts intensify and hit the worldâs poorest, The Adaptation Gap Report 2024: Come hell and high water finds that nations must dramatically increase climate adaptation efforts, starting with a commitment to act on finance. The report finds that progress in adaptation financing is not fast enough […]
Petrobras Reveals 3Q:24 Financial Performance (PDF Download)
(Petrobras, 7.Nov.2024) â Petrobras Chief Financial and Investor Relations Officer Fernando Melgarejo commented on the Brazilian company’s financial performance in the third-quarter 2024. “In this third quarter of 2024, we achieved consistent financial results amid a context of declining Brent prices, which we were able to offset with higher sales […]
APA Eyes Impressive Production Ramp-up Offshore Suriname
(Energy Analytics Institute, 6.Nov.2024) â APA Corporation has entered the development phase of its large-scale GranMorgu oil project offshore Suriname in Block 58 where the company says there are additional exploration opportunities. “We also achieved an important milestone in Suriname with the announcement of GranMorgu, the first offshore development in […]
Frontera Reports 3Q:24 Results, Updates on LatAm Portfolio (PDF Download)
(Frontera, 6.Nov.2024) â Frontera Energy Corporation reported financial and operational results for the third quarter ended 30 Sep. 2024. All financial amounts in this news release are in United States dollars, unless otherwise stated. Gabriel de Alba, Chairman of the Board of Directors, commented: “Frontera remains focused on the execution […]
CFE eyes investments of $23.4bn between 2024-2030
MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 6.Nov.2024) â Mexico’s Federal Electricity Commission (CFE) has its eyes set on a historic investment of $23.4bn between 2024-2030, according to the state-owned agency’s head Emilia Esther Calleja. The details were reveal 6 Nov. 2024 by Esther her participation in an early morning […]
Petrobras Ends Petrobras BiocombustĂvel (PBio) Divestment Project
(Energy Analytics Institute, 6.Nov.2024) â Petrobras‘ Executive Board approved the end of the divestment project of its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBio), which will be retained within the company’s portfolio. This decision is in line with Petrobras’ current strategic guidelines which takes into account the company’s low-carbon businesses, profitably […]
Energy Transfer Reveals 3Q:24 Results, Updates on Ammonia Hub (PDF Downloads)
(Energy Transfer, 6.Nov.2024) â Energy Transfer LP revealed its third-quarter 2024 results including details related to development of a large-scale LNG export facility at existing Lake Charles LNG regasification terminal as well as a ammonia hub concept at Lake Charles, LA and Nederland, TX that would provide infrastructure services to […]