(GoGold, 23.May.2024) — GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) presented its fourth annual Sustainability Report that sets out the company’s performance and achievements with respect to its environmental, social and governance (ESG) practices. The company is steadfastly committed to responsible mining practices, prioritizing safety, environmental responsibility, and benefits for local communities. “We’re pleased […]
Norfolk Southern in Deal to Resolve federal East Palestine Derailment Claims
(Norfolk Southern, 23.May.2024) — Norfolk Southern Corporation (NYSE: NSC) has reached an agreement on a consent decree with the following U.S. agencies: the Department of Justice (DOJ), the Environmental Protection Agency (EPA), and the Department of the Interior (DOI) to resolve all their claims and investigations arising from the derailment in East Palestine, […]
Moody’s Changes Ecopetrol’s Credit Rating to Ba1
(Ecopetrol, 23.May.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that credit rating agency Moody’s downgraded its global credit rating from Baa3 to Ba1 and changed the outlook from negative to stable. Additionally, the agency reduced the individual rating (BCA[1]) from Ba3 to B1. The decision to modify the individual rating […]
Mexico’s Presidential Front-runner Walks a Thin, Tense Line
(AP, 22.May.2024) — As she runs to replace outgoing President Andrés Manuel López Obrador, Claudia Sheinbaum is struggling to construct her own image, leaving many wondering whether she can escape the shadow of the larger-than-life incumbent. The former Mexico City mayor and frontrunner in the June 2 presidential election has had […]
Ecopetrol Reports on Investigation by Superintendency
(Ecopetrol, 22.May.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that between May 3, 2024 and May 9, 2024, the company and its subsidiaries, Cenit Transporte y Logística de Hidrocarburos S.A.S. and Oleoducto Central S.A. (Ocensa) were notified of Resolution No. 20884 of April 26, 2024, through which the Superintendency of Industry and Commerce (SIC) opened an […]
PEMEX reaffirms commitment to pay suppliers
MEXICO CITY, MEXICO (PEMEX, 22.May.2024, Words: 291) — The CEO of Petróleos Mexicanos (PEMEX), Octavio Romero Oropeza, currently on a working tour of the southeastern part of the country, is holding a series of meetings with PEMEX’s main suppliers. Besides reaffirming the institution’s commitment to ensure outstanding payments, he is […]
ExxonMobil, Shell Considering Bids for Stake in Namibia Oilfield
(Offshore Technology, 22.May.2024) — ExxonMobil and Shell are among the energy giants evaluating bids for a stake in Galp Energia’s oilfield offshore Namibia, reported Bloomberg, citing sources. TotalEnergies and Equinor are also interested in acquiring the 40% stake that Galp is looking to sell in the Mopane discovery, the sources added. The Mopane field, part of the […]
John Hess Personally Calls Investors to Support Chevron Deal Before Vote
(Bloomberg, 22.May.2024) — John Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter. The Hess Corp. chief executive […]
Developer Seeks Permit to Send US Gas to Mexico for LNG Exports
(Reuters, 21.May.2024) — A Mexican energy developer is seeking U.S. permission to export gas to Mexico, turn it into liquefied natural gas (LNG) and send it to countries with U.S. free-trade agreements, its filing with the U.S. Department of Energy showed. Mexico-based Gato Negro Permitium Uno and partners including Houston-based Big River […]
Zachry Initiates Voluntary Court-supervised Chapter 11
(Zachary, 21.May.2024) — Zachry Holdings, Inc. (ZHI) announced that ZHI and certain of its subsidiaries have initiated a voluntary court-supervised Chapter 11 process that provides them with time and flexibility to resolve issues related to the Golden Pass LNG (GPX) export terminal project in Sabine Pass, TX. This action is […]
APA Reveals over $700mn in Asset Sales from Two Transactions
(APA Corp., 20.May.2024) — APA Corporation (Nasdaq: APA) announced the sale of non-core producing properties by Apache Corporation and certain of its subsidiaries in two separate transactions with aggregate proceeds of more than $700mn, prior to customary closing adjustments. Combined, the properties represent estimated net production in the first-quarter 2024 […]
ADNOC Inks Equity Stake, LNG Offtake Deal with NextDecade
(ADNOC, 20.May.2024) — ADNOC announced the acquisition of a 11.7% stake in Phase 1 (Trains 1-3) of NextDecade Corporation’s (Nasdaq: NEXT) Rio Grande LNG (RGLNG), a liquefied natural gas (LNG) export project located in Texas, US, which is expected to produce a less carbon-intensive LNG. Highlights: –11.7% equity stake in Phase 1 […]
Glass Lewis Urges Hess Shareholders to Vote for Chevron Deal
(Hess, 20.May.2024) — Hess Corporation (NYSE: HES) announced that independent proxy voting and corporate governance advisory firm Glass, Lewis & Co. has recommended that Hess shareholders vote FOR the proposed merger with Chevron. In its report, Glass Lewis notes “the strategic and financial merits of the proposed merger are sound and reasonable” and that […]
Aris Mining on General Meeting Results
(Aris Mining, 18.May.2024) — Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) reports voting results from its Annual General Meeting of shareholders (the Meeting) held earlier today. AGM Voting Results Shareholders holding 46,147,782 shares, being 32.54% of the outstanding shares of the company were represented by proxy at the meeting. The voting […]
Petrobras Ranking by Poder 360
(Energy Analytics Institute, 18.May.2024) — In 2023, Petrobras was the 4th most profitable oil company. Saudi Arabia’s Saudi Aramco remains the leader, on its own, according to Poder 360. Petrobras ranked above other oil majors, including some with higher revenues. This is the case of the British BP, the Norwegian […]
AMLO’s ‘Dream’ Pemex Refinery Hits Another Delay
(Reuters, 17.May.2024) — Mexican state energy company Pemex started sending 16,300 barrels per day (bpd) of crude oil to its new Olmeca refinery this week, less than 5% of its total capacity, internal data seen by Reuters showed, signaling another delay. President Andres Manuel Lopez Obrador had built hugely ambitious infrastructure project in his […]
California Ports Gear up to Build Offshore Wind Ports
(American Journal of Transportation, 17.May.2024) — Two California ports, Long Beach and Humboldt Bay, are gearing up to build offshore wind ports but still need financing. The two ports plan to build facilities that will assemble and launch floating offshore wind turbines to be deployed off the coasts of Central and […]
CGG Changes Name to Viridien
(CGG, 16.May.2024) — At the Annual General Meeting on 15 May 2024, shareholders approved the resolution to change the company’s corporate name from CGG to Viridien. Sophie Zurquiyah, CEO, Viridien, said: “Our new name, Viridien, connects our company’s history to our future, confidently positioning us for accelerated growth as an […]
GoldMining on Voting Rights
(GoldMining, 16.May.2024) — GoldMining Inc. (TSX: GOLD) (NYSE: GLDG) announced that at its annual general meeting held on 16 May 2024, all nominees listed in its management information circular dated 25 Mar. were elected as directors of the company. A quorum of 32.49% of the votes attached to the outstanding shares of the company was present in […]
Exmar Provides 1Q:24 Update
(Exmar, 16.May.2024) — EXMAR’s engineering subsidiaries Exmar Offshore Company in Houston and DV Offshore in Paris had continued high utilization rates for their third-party engineering services, the company said in its first quarter 2024 update. ____________________
U Power’s UOTTA Battery Swapping Technology to Enter the Peruvian Market
(U Power Limited, 16.May.2024) — U Power Limited recently embarked on a collaborative pilot test with a Peruvian mining firm to evaluate electric heavy-duty vehicles on an established haulage route. This venture aims to identify an efficient substitute for traditional fuel-powered trucks, offering the potential to cut energy use and reduce […]
Aris Mining on Results of Annual Meeting
(Aris Mining, 16.May.2024) — Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) reports voting results from its Annual General Meeting of shareholders held earlier today. AGM Voting Results Shareholders holding 46,147,782 shares, being 32.54% of the outstanding shares of the company were represented by proxy at the meeting. The voting results from […]
SSR Mining Comments on Proxy Statement
(SSR, 16.May.2024) — On15 May 2024, SSR Mining Inc. (Nasdaq/TSX: SSRM; ASX: SSR) filed an amendment to the company’s Proxy Statement dated 12 Apr. for its Annual and Special Meeting of Shareholders to be held on 23 May. The purpose of the amendment is to supplement and amend Proposal No. 3 of the Proxy […]
US Election Could Decelerate Energy Transition
(Wood Mackenzie, 16.May.2024) — The Infrastructure Investment and Jobs Act (IIJA) of 2021 and the Inflation Reduction Act (IRA) of 2022 catapulted the US to global leadership in decarbonisation. But a victory for former President Donald Trump in the November 2024 election, combined with long-standing issues around the US relationship with […]
Petronas Discovery in Suriname Approaches 400 MMbbls
(Petronas, 16.May.2024) — Addressing the recent deepwater discovery by Petronas in Suriname, Mark Oberstoetter, Head of Americas (non-L48) Upstream, said “We understand Roystonea and Fusaea’s recoverable resources are approaching 400 million barrels. This could be enough to support an FPSO with an oil processing capacity of up to 100,000 b/d […]
Petronas, ExxonMobil Report Find in Suriname’s Offshore Block 52
(Petronas, 16.May.2024) — Petronas Suriname E&P B.V., a subsidiary of Petronas, has made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well in Suriname’s Block 52, located about 170 kilometres offshore and 9 kilometers east from Roystonea-1 The well was spudded in Feb. 2024 and successfully drilled […]
Geopark Reports 1Q:24 Results
(GeoPark, 15.May.2024) — GeoPark Limited (NYSE: GPRK) reports its consolidated financial results for the three-month period ended 31 Mar. 2024 (“First Quarter” or “1Q2024”). A conference call to discuss these financial results will be held on 16 May 2024, at 10:00 am (Eastern Daylight Time). FIRST QUARTER 2024 SUMMARY In […]
3R PETROLEUM Clarifies News Published in Pipeline Valor
(3R, 15.May.2024) — 3R PETROLEUM ÓLEO E GÁS S.A.(B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44, hereby, in reference to the news published by Pipeline Valor, on this date, under the title “3R and Enauta conclude merger and call shareholders’ meeting”, provide the following clarifications: — […]
Interest Remains in Mexico’s Oil and Gas
(S&P, 15.May.2024) — There is still a lot of private and international interest in developing the oil and natural gas resources in Mexico despite the shift towards state control by President Andres Manuel Lopez Obrador, panelists said during an energy and infrastructure forum May 14-15. However, if Mexico again opened […]
Lula Fires Petrobras CEO Prates After Dividend Dispute
(Bloomberg, 15.May.2024) — Shares of Brazil’s state-owned oil company Petroleo Brasileiro SA declined after President Luiz Inacio Lula da Silva fired Chief Executive Officer Jean Paul Prates following a dispute over dividend payments. Prates’s dismissal was confirmed late Tuesday by people familiar with the matter, who asked not to be identified discussing private matters. Petrobras, […]
Petrobras on Official Letter from Ministry of Mines and Energy
(Petrobras, 14.May.2024) — Petrobras informs that it has received Official Letter No. 214/2024/GM-MME, through which the Ministry of Mines and Energy (MME), after being informed of Mr. Jean Paul Prates’ request for early termination of his term as CEO of Petrobras through negotiation and, if approved, his intention to subsequently […]
ADNOC Delivers Bulk Shipment of CCS-Enabled Certified Low-Carbon Ammonia to Japan
(ADNOC, 14.May.2024) — ADNOC delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage (CCS) to Mitsui & Co., Ltd. for use in clean-power generation in Japan. The low-carbon certification process, from production to delivery, has been conducted by TÜV SÜD, an internationally […]
Petrobras on its CEO Jean Paul Prates
(Petrobras, 14.May.2024) — Petrobras informs that it received this evening from its CEO, Mr. Jean Paul Prates, a request that the company’s Board of Directors meet to consider the early termination of its mandate as CEO of Petrobras in a negotiated manner. Additionally, Jean Paul informed that, if and once […]
PETRONAS Signs PSC for the Bobara Working Area, Eastern Indonesia
(PETRONAS, 14.May.2024) — PETRONAS E&P Bobara Sdn. Bhd., a subsidiary of PETRONAS, signed a Production Sharing Contract (PSC) for the Bobara Working Area located at the offshore of West Papua, Eastern Indonesia. PETRONAS has been awarded the Bobara Working Area with a total acreage of 8,444.49 square kilometers during the […]
PETRONAS Signs a 20-Year PSC Extension Deal for Ketapang Contract Area
(PETRONAS, 14.May.2024) — IPC Ketapang II Ltd. (PCK2L), a subsidiary of PETRONAS, signed a Production Sharing Contract (PSC) extension for the Ketapang Contract Area located in the Java Sea following the approval granted by the Government of Indonesia through the Ministry of Energy and Mineral Resources on 21 Dec. 2023, […]
PETRONAS Comments on Power Loss at LNG Complex in Bintulu
(Energy Analytics Institute, 14.May.2024) — PETRONAS subsidiary Malaysia LNG Group of Companies (MLNG) encountered a loss of power at around 11:30 p.m. on 10 May 2024 at the PETRONAS LNG Complex (PLC) in Bintulu. Prior to the incident, the facility was operating at optimal efficiency, PETRONAS said 14 May in an […]
Poland Hunts for $330mn of Orlen Payments for Venezuela Oil
(Reuters, 14.May.2024) — A Swiss unit of Polish refiner Orlen paid two Dubai-based intermediary companies $330 million for Venezuelan oil, but Venezuela’s state oil company PDVSA never received the money, according to sources and a document seen by Reuters. Prosecutors in Poland are investigating the loss of about $400 million […]
Aris Mining Results Boosted by Segovia Project
(Aris Mining, 14.May.2024) — Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) announces its full financial and operating results for the three months ended 31 Mar. 2024 (Q1 2024). Aris Mining previously released Q1 2024 production results and announced that it is on track to deliver full-year 2024 guidance while its expansion projects advance […]
GeoPark on Acquisition in Argentina
(GeoPark, 13.May.2024) — GeoPark Limited (NYSE: GPRK) signed an Asset Purchase Agreement with Phoenix Global Resources (PGR), a subsidiary of Mercuria Energy Trading, for the acquisition of non-operated working interest (WI) in four adjacent unconventional blocks in the Neuquén Basin in Argentina as follows: a 45% WI in each of the […]
Petrobras on Remuneration to Shareholders
(Petrobras, 13.May.2024) — Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of interim dividends and interest on own capital in the amount of R$13.45bn, equivalent to R$ 1.04161205 per outstanding common and preferred share, in anticipation of the remuneration to shareholders for the […]
Petrobras Reports 1Q:24 Financial Performance
(Petrobras, 13.May.2024) — In 1Q:24, Petrobras said its net revenue fell 12% compared to 4Q23, mainly influenced by lower revenue from diesel sales in the domestic market and exports. The reduction in revenue from oil products in the domestic market was mainly due to lower prices, the seasonality of consumption, […]
Petrobras Release 1Q:24 Tax Report
(Petrobras, 13.May.2024) — Petrobras reported a 9% increase in tax payments in the first quarter of 2024 when compared to the same period of 2023, driven by higher ICMS (VAT) collection. A total of R$68.2bn was collected by the government from January to March 2024. This amount includes taxes due […]
Comment Ridge Receives $5mn Grant for Mahalo East
(Comet Ridge, 10.May.2024) — Comet Ridge Limited (ASX:COI) has been awarded a $5mn grant from the Queensland government to undertake a pilot test in Comet Ridge’s 100% held Mahalo East block (ATP 2061). Mahalo East currently has independently certified 2C (31PJ) and 3C (122PJ) Contingent Resources and the pilot test […]
SMA Mineral and Infinium to Advance eFuels Project in Norway
(SMA Mineral, 10.May.2024) — eFuels leader Infinium reached an agreement with SMA Mineral that will advance the development of Infinium’s eFuels project at the Mo Industripark in Mo i Rana, Norway. The Infinium facility will utilize the carbon dioxide (CO2) that SMA will produce at its Zero Emission Quick Lime […]
Paris Summit Aims Commitments of $4bn for African Women
(African Development Bank Group, 10.May.2024) — Summit expected to build on ground-breaking clean cooking initiatives launched at COP28; African Development Bank’s Adesina (www.AfDB.org), Tanzanian President Hassan, Norway Prime Minister Jonas Gahr Støre and International Energy Agency Executive Director Fatih Birol to co-chair event. Development partners gathering in Paris on 14 May […]
Ecopetrol Calls Holders of Domestic Public Debt for Ordinary Bondholders Meeting
(Ecopetrol, 10.May.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, in light of the statutory reform approved by its Shareholders’ during their ordinary meeting held on 22 Mar. 2024, its local bondholders are summoned to consider said reform, in compliance with Colombian regulations applicable to securities issuers, particularly Article 6.4.1.1.42 of Decree […]
YPF Reveals 1Q:24 Results
(YPF, 10.May.2024) — YPF SA said it achieved a new quarterly record high in operational efficiencies, delivering positive evolution in shale oil production. YPF also released its Form 20-F. ____________________
Subsea Integration Alliance Awarded Contract Offshore Türkiye
(Subsea7, 10.May.2024) — Subsea 7 S.A. announced the award of a large1 contract by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye. The award will be booked in backlog in Q2 2024. An initial contract was awarded in May 2023 to a […]
Citgo Petroleum Reports 1Q:24 Results
(Citgo, 9.May.2024) — Citgo Petroleum Corporation reported its 2024 first quarter financial and operational results. Historically favorable refining margins and strong asset reliability led to first quarter net income of $410mn, EBITDA of $709mn and Adjusted EBITDA of $677mn, compared with net income of $937mn and EBITDA of approximately $1.4bn(2) for the first quarter of 2023. (1) EBITDA […]
GeoPark Signs New Offtake Agreement with Vitol for the Llanos 34 Block in Colombia
(GeoPark, 9.May.2024) — GeoPark Limited (NYSE: GPRK) announces the execution of an offtake and prepayment agreement with Vitol, one of the world’s leading energy and commodity companies. The offtake agreement provides for GeoPark to sell and deliver to Vitol a minimum of 20,000 bopd of production from the Llanos 34 […]