Editores LatinPetroleum

Asia
China

Sinopec’s First Geothermal Power Production Pilot Project Connects to Grid

(Sinopec, 6.Nov.2024) — Sinopec Star Co., Ltd., a clean energy subsidiary of China Petroleum & Chemical Corporation, has received the grid access permit for its medium and deep geothermal power generation pilot project in Xianyang, Shaanxi Province, which is officially connected to the grid to produce power. The project, which […]

APA Corp. Reveals 3Q:24, Comments on Suriname, Permian

(APA, 6.Nov.2024) — APA Corporation announced its financial and operational results for the third quarter of 2024. Key Takeaways APA reported a loss attributable to common stock of $223mn or $0.60 per diluted share, which was primarily driven by non-cash impairments of assets in the U.K. and assets held for […]

Sempra Says ECA LNG Progressing, to Start in Spring 2026

HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 6.Nov.2024) — Sempra Infrastructure and its Mexican subsidiary, Infraestructura Energética Nova (IEnova), continue to move forward with Energía Costa Azul (ECA) LNG Phase 1. Sempra Infrastructure said that construction at ECA LNG Phase 1 has progressed, and commercial operations are still slated […]

Bristow and Leonardo Finalize Agreements for AW139 and AW189 Helicopters

(Bristow, 6.Nov.2024) — Bristow Group Inc. and Leonardo finalized a series of long-term agreements that will enhance global fleet support and training for the AW139 and AW189 helicopters, extending into the next decade. These agreements reinforce the strong relationship between the two companies and provides continued support for operations in […]

Sempra Sees Completion of Rosarito Expansion Pipeline in 4Q:24

(Energy Analytics Institute, 6.Nov.2024) — Sempra Infrastructure said the long-awaited Gasoducto Rosarito Expansion Pipeline (GRO by its Spanish acronym) is expected to reach commercial operations in the fourth-quarter 2024 (4Q:24). GRO will support natural gas supply to Energía Costa Azul (ECA) LNG Phase 1, Sempra announced 6 Nov. 2024 in […]

Sempra Reports 3Q:24 Results (PDF Download)

(Sempra, 6.Nov.2024) — Sempra reported third-quarter 2024 earnings, prepared in accordance with generally accepted accounting principles (GAAP), of $638mn, or $1 per diluted share, compared to third-quarter 2023 GAAP earnings of $721mn, or $1.14 per diluted share. On an adjusted basis, the company’s third-quarter 2024 earnings were $566mn, or $0.89 […]

Marathon Oil Reports 3Q:24 Results

(Marathon, 6.Nov.2024) — Marathon Oil Corporation reported third-quarter 2024 (3Q:24) net income of $287mn or $0.51 per diluted share, which includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. Adjusted net income was $360mn or $0.64 per diluted […]

Borr Drilling Reveals 3Q:24 Results

(Borr Drilling, 6.Nov.2024) — Borr Drilling Limited announced unaudited results for the three and nine months ended 30 Sep. 2024. Highlights CEO, Patrick Schorn commented: “The operational performance in the third quarter was solid, with a technical utilization rate of 98.7% and an economic utilization rate of 96.9%. As expected, […]

SSR Releases 3Q:24 Results, Updates on Çöpler Incident

(SSR Mining, 6.Nov.2024) — SSR Mining Inc. reported financial results for the third-quarter 2024 (3Q:24), as well as an update on the 13 Feb. 2024 incident at the Çöpler mine. Following the Çöpler Incident, the company focused on four key priorities: (1) the recovery of our missing colleagues; (2) containment […]

EAI commentary: Mexico and Canada aim to step up LNG efforts

HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 5.Nov.2024, Words: 750) — It’s another landmark moment for North American energy. That is, after Mexico shipped its madden LNG cargo this summer from a facility in Altamira, Mexico off the Atlantic coast. That shipment officially propelling the Latin American country into […]

Noble Seeks Value after Diamond Deal, CEO Says

(Noble, 5.Nov.2024) — Noble Corporation plc, which closed the Diamond Offshore Drilling, Inc. acquisition on 4 Sep. 2024, is now looking to capture value, the company’s president and CEO Robert W. Eifler said. “We are excited to have closed on the Diamond acquisition during the third quarter, enabling us to start […]

Noble Reports 3Q:24 Results, Updates on Diamond (PDF Download)

(Noble, 5.Nov.2024) — Noble Corporation plc reported third-quarter 2024 (3Q:24) results. The company also announced an increased capital return program with additional share repurchase authorization of $400mn, and provided revenue, adjusted EBITDA and capital additions guidance for the 4Q:24 along with other details. ____________________

Petrobras Reveals 3Q:24 Webcast Schedule

(Energy Analytics Institute, 5.Nov.2024) — Petrobras has rescheduled for 2 p.m. the webcast to be held on 8 Nov. 2024 to present the company’s third-quarter 2024 results. The event will be presented in Portuguese and will have simultaneous translation into English. The release of the 3Q:24 Financial Performance Report is […]

Asia
China

Sinopec Hosts Session at 7th China International Import Expo

(Sinopec, 6.Nov.2024) — China Petroleum & Chemical Corporation hosted a forum titled “Building Global Energy Partnerships” and a signing ceremony at the 7th China International Import Expo (CIIE 2024) in Shanghai. The exhibition, running from 5-10 Nov. 2024, is focused on the global energy transition and fostering an open, green, […]

Nauticus Robotics Completes US GOM Survey Work for Shell

(Energy Analytics Institute, 5.Nov.2024) — Nauticus Robotics, Inc., which offers subsea robotics and software, successfully completed its initial 2024 Gulf of Mexico (GOM) survey scope for Shell plc‘s subsidiary Shell Exploration and Production, Inc. Successful completion of this work combined with the submission of a final report completes the initial […]

Touchstone Executes Rio Claro Block License

(Energy Analytics Institute, 5.Nov.2024) — Touchstone Exploration Inc.‘s wholly owned Trinidadian subsidiary Primera Oil and Gas Limited (POGL) executed on 4 Nov. 2024 an Exploration and Production (Public Petroleum Rights) license for the Rio Claro block. The Rio Claro License has been formally entered into by POGL, the Government of […]

Midstreamer Bucks the Haynesville Slump

(East Daley, 5.Nov.2024) — Haynesville production has fallen over 3 Bcf/d so far in 2024 in a weak natural gas market, dragging volumes down on many of the largest gathering systems. But DT Midstream (DTM) so far has resisted the Haynesville slump and is looking ahead to a new expansion […]

VinFast and Durango Union Ink MOU on Green Transition

(VinFast, 4.Nov.2024) — VinFast and the Durango Drivers’ Union in Mexico signed a Memorandum of Understanding (MOU) to collaborate on the green transition of public transport, including the potential purchase of 3,000 VF 5 electric cars and 300 electric buses by Durango Driver’s Union for operation in Mexico. This strategic partnership underscores […]

TotalEnergies Energy Outlook 2024 (PDF Download)

(TotalEnergies, 4.Nov.2024) — To contribute to the public debate on the energy transition, TotalEnergies is publishing the 6th edition of its “TotalEnergies Energy Outlook”, which presents three scenarios for the possible evolution of the demand and the global energy system up to 2050 (documents available at this link). TotalEnergies Energy […]

TotalEnergies to Supply 2 mtpa of LNG to Sinopec for 15 Years

(Energy Analytics Institute, 4.Nov.2024) — TotalEnergies signed a sales agreement (HoA) with Sinopec for the delivery of 2 million tonnes per annum (mtpa) of LNG for 15 years, starting in 2028. With the agreement, TotalEnergies strengthens its long-term position in the LNG market in China, the largest market in the […]

Europe
Italy

SACE and Open-es to Boost Competitiveness of Italian Companies

(Eni, 4.Nov.2024) — SACE and Eni announced a strategic partnership to promote synergies through the Open-es alliance. The aim of the agreement is to strengthen support for Italian companies, especially SMEs, in their growth journey by combining sustainability and competitiveness. This includes the integration of the Open-es and SACE ESG […]

Eni Completes Divestment of Assets in Alaska to Hilcorp

(Energy Analytics Institute, 4.Nov.2024) — Italy’s Eni closed the sale to Hilcorp of 100% of the Nikaitchuq and Oooguruk assets owned in Alaska for a value of $1bn. The deal received the approval of all relevant authorities, and is in line with Eni’s strategy focused on the rationalization of the […]

Phillips 66 Nears Non-Core $3bn Asset Divestment Target

(Energy Analytics Institute, 4.Nov.2024) — Phillips 66 is very close to achieving its $3bn non-core asset divestment target, the company said in its most recent investor update. Phillips 66 has achieved $2.7bn of the target, the company announced in its Nov. 2024 investor update presentation on its website. The deal […]

Touchstone Initiates Output at Cascadura C Well Pad in Trinidad

(Energy Analytics Institute, 4.Nov.2024) — Touchstone Exploration Inc. initiated production at the Cascadura C well pad onshore Trinidad and Tobago. Touchstone has safely commissioned the flowline connecting our Cascadura C surface location to the Cascadura natural gas processing plant, which ties in our Cascadura-2ST1 and Cascadura-3ST1 wells, Touchstone announced 4 […]

Alterra, Neste and Technip Offer Solutions to Build Chemical Recycling Plants

(Alterra, 4.Nov.2024) — Alterra, Neste and Technip Energies have signed a collaboration agreement to advance the circularity of plastics by providing the industry a standardized technology solution for chemical recycling, also referred to as “advanced recycling”. The partners aim to globally offer a standardized modular solution, based on Alterra’s proprietary […]

Diamondback Reports 3Q:24 Results, Updates on Endeavor Deal

(Diamondback, 4.Nov.2024) — Diamondback Energy, Inc. announced financial and operating results for the third-quarter 2024 (3Q:24). THIRD QUARTER 2024 HIGHLIGHTS TRP ENERGY TRADE ____________________

Texas LNG Selects Kiewit as EPC Contractor for 4 MTPA Brownsville Facility

(Pietro D. Pitts, Energy Analytics Institute, 4.Nov.2024) — Texas LNG Brownsville LLC subsidiary of Glenfarne Energy Transition, LLC selected Kiewit, through its subsidiaries Kiewit Engineering Group Inc. and Kiewit Energy Group Inc., to lead the engineering, procurement, and construction (EPC) of the proposed Texas LNG 4 million tonnes per annum […]

Guyana and Suriname Could Provide 12 mmtpa of LNG in the 2030s

(Wood Mackenzie, 4.Nov.2024) — Several gas developments are underway in Guyana and Suriname that could offer new competitive LNG supply sources early next decade, according to a new report from Wood Mackenzie. According to Wood Mackenzie’s report “Can Guyana and Suriname LNG compete against new global supply?”, Guyana and Suriname […]

“LatAmNRG matters” podcast: George Baker on Mexico LNG last mile issues [audio]

HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 4.Nov.2024, Words: 282) — Baker & Associates head George Baker, who published Mexico Energy Intelligence, spoke with Pietro D. Pitts—for his Podcast “LatAmNRG Matters”—about Mexico, Petróleos Mexicanos (Pemex), the Comisión Federal de Electricidad (CFE), the “Zama Drama,” Carlos Slim, and Andrés Manuel […]

TGS and Aquila Complete Utsira OBN Reprocessing Project

(Viridien, 4.Nov.2024) — Viridien and its partners TGS and Aquila Holdings ASA (under its subsidiary Axxis Multi-client AS) announced completion and delivery of the reprocessing of the Utsira ocean bottom node (OBN) seismic survey in the Norwegian North Sea. The reprocessing project has received significant industry support and leverages strong […]

enCore Reveals 5 Year Uranium Contracting Strategy Outlook

(enCore Energy, 4.Nov.2024) — enCore Energy Corp., a uranium producer, revealed the company’s contracting strategy and 5 year forward outlook regarding its uranium sales agreements. As of 31 Oct. 2024, the company has executed seven (7) contracts to supply uranium to nuclear power plants in the US and holds one […]

MDU Resources Completes Spinoff of Everus

(Energy Analytics Institute, 1.Nov.2024) — MDU Resources Group, Inc. successfully completed the spinoff of its construction services subsidiary, Everus Construction Group. As a result of the spin-off, Everus is now an independent public company, MDU announced 1 Nov. 2024 in an official statement. “The successful spinoff of Everus within two […]

Latin America and the Caribbean

Duke Energy Responds to Carolinas Resource Decision

(Duke Energy, 2.Nov.2024) — Duke Energy issued the following statement in response to yesterday’s order by the North Carolina Utilities Commission (NCUC) on its Carolinas Resource Plan. Background On 17 Aug. 2023, Duke Energy filed its proposed Carolinas Resource Plan with the North Carolina Utilities Commission (NCUC), two days after […]

LatAm NRG matters: highlights, heard from Pampa Energia to Ecopetrol and Petrobras

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 1.Nov.2024, Words: 489) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 1 Nov. 2024. —Argentina: Citigroup downgraded Pampa Energia to neutral from buy, adjusted its price target to $75/shr v $58/shr; Citigroup also upgraded YPF to buy […]

Vizsla Silver to Move to TSX from TXXV

(Vizsla Silver, 1.Nov.2024) — Vizsla Silver Corp. received conditional approval to graduate from the TSX Venture Exchange (TSXV) and list its common shares on the Toronto Stock Exchange (TSX). Final approval of the listing is subject to the company meeting certain customary conditions required by the TSX. Upon receipt of […]

Aker Reports 3Q:24 Results, Updates on Renewable Projects (PDF Download)

(Aker Horizons, 1.Nov.2024) — Aker Horizons ASA announced results for the third quarter 2024. Aker Horizons’ net capital employed stood at NOK 6.1bn, a decrease of NOK 1bn from the second quarter, mainly driven by impairments in Mainstream. The company reported a cash position of NOK 3bn and an undrawn […]

Exxon Eyes First Golden Pass LNG Cargo in Late-2025, Woods Says

(Energy Analytics Institute, 1.Nov.2024) — ExxonMobil Corporation, which is partnered with QatarEnergy in the three-train 18 million tonnes per annum (mtpa) Golden Pass LNG project, eyes the ship off of the initial LNG cargo from the project in late 2025, Darren Woods, the chairman and CEO of the Texas-based company […]

Chevron Eyes More Non-core Asset Divestments, Wirth Says

(Energy Analytics Institute, 1.Nov.2024) — California-based Chevron Corporation plans to continue to divest non-core assets as part of its ongoing portfolio optimization efforts. This, as the Federal Trade Commission (FTC) completed its review of Chevron’s merger with New York City-based Hess Corporation, and as the company recently announced several other […]

ExxonMobil Reports 3Q:24 Earnings of $8.6bn (PDF Downloads)

(ExxonMobil, 1.Nov.2024) — Exxon Mobil Corporation announced third-quarter 2024 earnings of $8.6bn, or $1.92 per share assuming dilution. Cash flow from operating activities was $17.6bn and free cash flow was $11.3bn. Capital and exploration expenditures were $7.2bn in the third quarter, bringing year-to-date 2024 expenditures to $20bn, in line with […]

Petrobras Responds to Rumors about Dividends, Strategic Plan

(Energy Analytics Institute, 1.Nov.2024) — Rio de Janeiro-based Petrobras, responding to news published in the Brazilian media about the payment of extraordinary dividends and about its Strategic Plan, said the news wrongly attributed to Petrobras’ Chief Financial and Investor Relations Officer, Fernando Melgarejo, are not true. “There has been no […]

Chevron Reports 3Q:24 Details, Updates on Hess Merger (PDF Downloads)

(Chevron, 1.Nov.2024) — Chevron Corporation reported earnings of $4.5bn ($2.48 per share – diluted) for third quarter 2024, compared with $6.5bn ($3.48 per share – diluted) in third quarter 2023. Foreign currency effects decreased earnings by $44mn. Adjusted earnings of $4.5bn ($2.51 per share – diluted) in third quarter 2024 […]

Enbridge Eyes Final Phase of Squirrel Solar Project

(Energy Analytics Institute, 1.Nov.2024) — Enbridge Inc. will fund US$168mn towards the third and final phase of the Fox Squirrel Solar project in Ohio, which is expected to enter service in late 2024 and generate 177MW of renewable power, Enbridge said 1 Nov. 2024 in its third-quarter 2024 (3Q:24) financial […]

Tailwater E&P Buys Non-Operated Permian Basin Assets

(Energy Analytics Institute, 1.Nov.2024) — Tailwater Capital LLC acquired a significant, off-market non-operated working interest asset package in the Permian Basin from Accelerate Resources Operating LLC. The acquisition further solidifies position of Tailwater E&P LLC as an key investor in high-quality, energy-producing assets in the lower 48, Dallas-based Tailwater said […]

Enbridge Reports 3Q:24 Results, Updates on Kaskida (PDF Downloads)

(Enbridge, 1.Nov.2024) — Enbridge Inc. reported third quarter 2024 (3Q:24) financial results, provided a quarterly business update, and reaffirmed its 2024 financial guidance and outlook. Highlights CEO COMMENT Greg Ebel, President and CEO commented the following: “This quarter, we concluded the successful acquisition of the three U.S. natural gas utilities […]

Commonwealth LNG and Kimmeridge Commit to Natural Gas Certification

(Kimmeridge, 1.Nov.2024) — Kimmeridge-backed Commonwealth LNG and Kimmeridge Texas Gas (KTG) announced a commitment to obtain independent certification of their natural gas operations under the protocols developed by MiQ. The initiative supports Kimmeridge’s innovative ability to deliver a “wellhead-to-water” net zero cargo for Scope 1 and 2 greenhouse gas emissions […]

PRM Acquires LMS Manufacturing, LLC

(Energy Analytics Institute, 1.Nov.2024) — Product Recovery Management, Inc. (PRM)—a manufacturer of environmental treatment equipment, focusing on the environmental remediation and landfill gas markets—acquired Marianna, Florida-based LMS Manufacturing and Metal Fabrication. PRM announced the deal 1 Nov. 2024 in an official statement but did not provide any financial details. PRM’s acquisition […]

Commonwealth LNG Launches Initiatives in SW Louisiana

(Commonwealth, 1.Nov.2024) — Commonwealth LNG, a Kimmeridge portfolio company, announced a comprehensive package of community support initiatives for Cameron Parish, Louisiana, the future site of Commonwealth’s LNG export terminal, which is anticipated to begin construction in the first half of 2025. Commonwealth’s community investments will focus on providing critical healthcare […]

C3E Recognizes Nine Leaders for Outstanding Achievements

(C3E Initiative, 1.Nov.2024) — The Clean Energy Education & Empowerment (C3E) Initiative has announced the winners of the 2024 C3E Awards, honoring nine women for outstanding leadership and accomplishments in clean energy. The C3E Initiative aims to close the gender gap and increase the participation, leadership, and success of women in clean […]

Enbridge Notifies of Series 9 Preferred Shares Conversion Right

(Enbridge, 1.Nov.2024) — Enbridge Inc. does not intend to exercise its right to redeem its currently outstanding Cumulative Redeemable Preference Shares, Series 9 on 1 Dec. 2024. As a result, subject to certain conditions, the holders of the Series 9 Shares have the right to convert all or part of […]

England
UK

Shell Reports Sequential Rise in 3Q:24 Production

(Energy Analytics Institute, 31.Oct.2024) — Shell plc completed a number of scheduled maintenance activities ahead of time, which paved the way for higher production, Shell CFO Sinead Gorman said 31 Oct. 2024 during the company’s third-quarter 2024 (3Q:24) webcast with analysts. Shell reported total production of 1.811 Mboe/d in the […]