(bp, 6.Feb.2024) — bp delivered strong underlying financial performance in 2023, raising the dividend by 10% and buying back $7.9bn of shares, with net debt falling to its lowest level over the past decade ____________________
TotalEnergies and Vantage enter 75/25 JV Owning Tungsten Explorer Drillship
(TotalEnergies, 26.Feb.2024) — TotalEnergies and Vantage Drilling International signed a binding agreement to create a new joint venture (JV) that will acquire from Vantage the Tungsten Explorer drillship. Pursuant to the terms of the agreement, TotalEnergies will pay $199mn for a 75% interest in the JV owning the rig, with […]
YPF on Final Results with respect to its Tender Offer
(YPF, 6.Feb.2024) — YPF Sociedad Anónima announced the expiration and final results as of 5:00 p.m. (New York City time) on 5 Feb. 2024 of its previously announced cash tender offer for any and all of its outstanding US$346,313,047.20 aggregate principal amount of 8.75% senior amortizing notes due 2024 on […]
JinkoSolar Licenses TOPCon Patents to Solar Cell Company
(JinkoSolar, 6.Feb.2024) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced its affiliated company has recently signed a TOPCon patent license agreement with one of the world’s top five solar cell companies (“Licensee”), granting rights to certain of its N-type TOPCon related patents to Licensee for a fee, allowing Licensee to […]
Cryopeak and Ferus Jointly-announce a Strategic Merger
(Cryopeak LNG Solutions Corporation, 5.Feb.2024) — Cryopeak LNG Solutions Corporation and Ferus Natural Gas Fuels Inc. have merged forming a new LNG production and distribution technology-focused entity which is now named Cryopeak Energy Solutions Corporation. Cryopeak announced the acquisition of all LNG assets from Campus Energy Partners Infrastructure LP, including […]
Venture Global and Grain LNG Ink New Deal
(Venture Global LNG, 5.Feb.2024) — Grain LNG and Venture Global announced the execution of a binding long-term terminal use agreement (TUA) enabling the regasification and sale of LNG from all of Venture Global’s terminals in Louisiana, including CP2 LNG, subject to obtaining necessary federal permits. Under the agreement, Venture Global […]
Summit Nanotech and Cobax Mining Ink Deal for Salar de La Isla
(Summit Nanotech, 5.Feb.2024) — Summit Nanotech and Cobax Mining, a Chilean-based exploration company, signed an agreement to develop an exploration and development program at the Salar de La Isla that prioritizes community, environment, and effective project economics. The geologic focus of the exploration and development program will be the alluvial fan of […]
JinkoSolar Repurchased 400,000 ADSs
(JinkoSolar, 5.Feb.2024) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced that between 20 Dec. 2023 and 2 Feb. 2024, the company repurchased 400,000 American depositary shares of the company (the “ADSs”) in an aggregate amount of approximately US$11.8mn in the open market under its previously announced extended share repurchase program. […]
Sempra Infrastructure and JBIC in Collaboration in Support of the Energy Transition
(Sempra Infrastructure, 2.Feb.2024) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), entered into a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to cooperate on opportunities to advance the energy transition. Through this MOU, Sempra Infrastructure and JBIC aim to further project structuring to […]
ExxonMobil Announces 2023 Results, Updates on Guyana [PDF Downloads]
(Exxon, 2.Feb.2024) — Exxon Mobil Corporation announced fourth-quarter 2023 earnings of $7.6bn, or $1.91 per share assuming dilution. Fourth-quarter results included unfavorable identified items of $2.3bn including a $2bn impairment as a result of regulatory obstacles in California that have prevented production and distribution assets from coming back online. Impairments […]
FAQs: Suspension of Certain U.S. Sanctions with Respect to Venezuela
(OFAC, 2.Feb.2024) — Actions by Maduro and his representatives in Venezuela, including the arrest of members of the democratic opposition and the barring of candidates from competing in this year’s presidential election, are inconsistent with the agreements signed in Barbados in Oct. 2023 by representatives of Maduro and the opposition […]
Aramco’s Shift to Abandon 13 MMb/d Capacity Target
(WoodMac, 1.Feb.2024) — Addressing the Saudi Ministry of Energy’s instructions to Saudi Aramco to abandon its 13 million barrels per day (b/d) target and maintain 12 million b/d, Ann Louise Hittle, vice president of Oil Markets for Wood Mackenzie, said “Based on our forecast for oil demand to peak in […]
Shell Plc Posts Year End 2023 Results [PDF Downloads]
(Shell Plc, 1.Feb.2024) — Shell plc released its fourth quarter results and fourth quarter interim dividend announcement for 2023. ____________________
Ecopetrol Submits Report “Código País” for FY2023 [PDF Download]
(Ecopetrol, 30.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC), submitted the Report on the Implementation of Best Corporate Practices – “Código País” – to the Financial Superintendency of Colombia. The report describes the corporate governance practices adopted and implemented by the company between 1 Jan. 2023 and 31 Dec. 2023. The Código […]
Cheniere Announces Uplisting to the NYSE
(Cheniere, 31.Jan.2024) — Cheniere Energy, Inc. (NYSE American: LNG) and Cheniere Energy Partners, L.P. (NYSE American: CQP) announced that each company has been approved for uplisting to the New York Stock Exchange (NYSE) from the NYSE American. “Cheniere has been listed on the NYSE American or its predecessors for over […]
EAI’s NRGBriefs: January 2024
(Energy Analytics Institute, 31.Jan.2024) — Energy briefs as well as others related to finance and projects during Jan. 2024 including Washington reviewing its sanctions policy on Venezuela; QatarEnergy confirming that Qatar’s LNG production continues uninterrupted; Evercore ISI continuing on Biden’s moves to pause on LNG export terminal approvals; an S&P […]
Pemex’ ESG Outlook [PDF Download]
(Pemex, 31.Jan.2024) — Pemex‘ sustainability plan will focus on the most material components related to the oil and gas industry. And, the three main areas of focus include: emissions reduction and energy transition strategy, industrial safety and health and social and governance. ____________________
Core Laboratories Reports 4Q:23 Results
(Core Laboratories, 31.Jan.2024) — Core Laboratories Inc. (NYSE: “CLB”) reported fourth quarter 2023 revenue of $128,200,000. Core’s operating income was $14,600,000, with diluted earnings per share (“EPS”) of $0.14, all in accordance with U.S. generally accepted accounting principles (GAAP). Operating income, ex-items, a non-GAAP financial measure, was $15,000,000, yielding operating […]
Petroleum sanctions in Venezuela: origins, scope and failures [PDF download]
CARACAS, VENEZUELA (By Carlos Rossi for Editores LatinPetroleum, 31.Jan.2024, Words: 340) — Although US sanctions imposed on Venezuelan individuals for corruption charges date as far back as the beginning of the first decade of this century, the origin of US sanctions against the nation of Venezuela date back to the […]
Hess Reports 4Q:23 Results, Updates on Payara [PDF Download]
(Hess, 31.Jan.2024) — Hess Corporation (NYSE: HES) reported net income of $413mn, or $1.34 per share, in the fourth quarter of 2023, compared with net income of $497mn, or $1.61 per share, in the fourth quarter of 2022. On an adjusted basis, the corporation reported net income of $501mn, or […]
Petrobras Informs on Earnout from Sépia and Atapu
(Petrobras, 31.Jan.2024) ) — Petrobras has received, in cash, an amount of R$1.819bn, referring to the complement of the firm compensation (earnout) of the 2023, from the Sépia and Atapu blocks. The amount already includes the gross-up of the taxes levied on the 28%, 21% and 21% stakes held by […]
Nebula Energy Buys Majority Stake in AG&P LNG
(AG&P Global, 30.Jan.2024) — AG&P LNG (AG&P Terminals & Logistics Pte Ltd), a subsidiary of AG&P Group, announced that Nebula Energy LLC, a fully integrated investment, development, and asset management company with a focus on liquefied natural gas (LNG) and carbon capture and storage (CCS) sectors, has bought majority stake […]
SLB and Equinor Drill Most Autonomous Well Section To-Date
(SLB, 30.Jan.2024) — SLB (NYSE: SLB) announced a significant step toward fully autonomous drilling operations at Equinor’s Brazilian Peregrino C platform. SLB digital technologies for surface automation, autonomous on-bottom drilling, and directional drilling were combined to enable 99% of a 2.6-kilometer section to be drilled in autonomous control mode. Over a […]
SLB Reaffirms 2024 Financial Guidance
(SLB, 30.Jan.2024) — SLB (NYSE: SLB) is reaffirming its full-year 2024 financial guidance. “We acknowledge the decision by Saudi Aramco to maintain its Maximum Sustainable Capacity (MSC) at 12 million barrels per day (MMBD), and not to continue increasing MSC to 13 MMBD,” said SLB Chief Executive Officer Olivier Le […]
Texas Hydrocarbon Industry at a Glance
(Editors at Energy Analytics Institute, 30.Jan.2024) — Texas is a major crude oil and natural gas producing state. Such that in calendar year 2023 its oil production represented 43% of the total US oil production, while its gas production represented 28% of the total US gas production, according to data […]
US Warns Maduro of Sanctions Snap Back
(Energy Analytics Institute, 30.Jan.2024) — US State Department spokesperson Matthew Miller said there’s still time for the Nicolás Maduro regime in Venezuela to change course but said that if they didn’t that Washington was prepared “to allow General License #44 expire and “our sanctions will snap back into place.” “There […]
Port of Corpus Christi Names Cindy Bertolami CFO
(Port of Corpus Christi, 30.Jan.2024) — The Port of Corpus Christi has appointed Cindy Bertolami as its new Chief Financial Officer (CFO). Bertolami succeeds Kent Britton, who was appointed Chief Executive Officer in Sep. Previously, Bertolami served four years as Director of Finance for the Port of Corpus Christi. She […]
Biden’s Gas Export Review has Uncertain Consequences
(The Hill, 30.Jan.2024) — President Biden’s pause on gas export projects may not have significant impacts by itself, energy analysts say. But the changes he’s making to underlying gas project reviews could have implications for global gas supply and climate change, depending on whether gas projects face higher risks of being rejected. The Biden […]
US Refiner Marathon Petroleum Reports 4Q:23 Results [PDF Download]
(MPC, 30.Jan.2024) — Marathon Petroleum Corp. (NYSE: MPC) reported net income attributable to MPC of $1.5bn, or $3.84 per diluted share, for the fourth quarter of 2023. This compares to net income attributable to MPC of $3.3bn, or $7.09 per diluted share, for the fourth quarter of 2022. Adjusted net income […]
QatarEnergy, Excelerate Energy Ink 15-Year Supply Deal for Bangladesh
(QatarEnergy, 29.Jan.2024) — QatarEnergy and Excelerate Energy signed a long-term LNG sale and purchase agreement (SPA) for the supply of LNG from Qatar to Bangladesh. Pursuant to the SPA, Excelerate will purchase up to one million tons per annum (MTPA) of LNG from QatarEnergy to be delivered to floating storage […]
New Fortress Receives Customs Ruling for Its FLNG Facility
(New Fortress, 29.Jan.2024) — New Fortress Energy Inc. (NASDAQ: NFE) (announced that U.S. Customs and Border Protection has issued a ruling confirming that the transportation of LNG produced at the company’s FLNG facility located offshore Altamira, Mexico by non-U.S. qualified vessels would not violate the Jones Act. As a result of this ruling, NFE is now […]
OFAC on Wind Down of Transaction of CVG [PDF Download]
(Energy Analytics Institute, 29.Jan.2024) — The US Department of the Treasury‘s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 43A on 29 Jan. 2024, which relates to “Authorizing the Wind Down of Transactions Involving CVG Compania General de Mineria de Venezuela CA.” ____________________ By Ian Silverman. © Energy […]
Petroleum sanctions in Venezuela [PDF download]
CARACAS, VENEZUELA (Energy Analytics Institute, 28.Jan.2024) — If the US experiences the return of Donald Trump as president, or if in Venezuela Maria Corina Machado’s handpicked successor wins, or both, no one is sure what will happen. So international oil companies (IOCs) will likely sit tight and not invest but […]
Biden-Harris List Top Climate Accomplishments
(Energy Analytics Institute, 28.Jan.2024) — US President Joe Biden said 28 Jan 2024 on X, formerly Twitter, that “climate action offers an opportunity for the nation to come together and do some really big things.” Some of the top climate accomplishments to date of the Biden-Kamla Harris term follow, according […]
Venezuela Court Disqualifies Leading Opposition Candidate
(Al Jazeera, 27.Jan.2024) — Venezuela’s Supreme Justice Tribunal has upheld a ban which prevents presidential candidate Maria Corina Machado from holding office, upending the opposition’s plans for elections planned for later this year. Machado, a former lawmaker, won the opposition’s independently run presidential primary last October with more than 90 […]
Leaders on Biden-Harris Pause on Pending Decisions of LNG Exports
(The White House, 27.Jan.2024) — This week, the Biden-Harris Administration announced a temporary pause on pending decisions for exports of Liquefied Natural Gas (LNG). During this period, the Department of Energy will evaluate the impacts of LNG exports on energy costs, America’s energy security, and climate change – the existential threat of […]
YPF SA names Horacio Daniel Marin as president
HOUSTON, TEXAS (Aaron Simonsky, Energy Analytics Institute, 26.Jan.2024, Words: 34) — Argentina’s state-owned energy giant YPF SA announced the appointment of Horacio Daniel Marin as president of the company. ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.
Petrobras Proved Reserves Reach 10.9 Billion Boe in 2023
(Petrobras, 26.Jan.2024) — Petrobras discloses its proved reserves of oil, condensate, and natural gas, according to SEC (US Securities and Exchange Commission) regulation, estimated at 10.9 billion barrels of oil equivalent (boe), as of 31 Dec. 2023. Oil and condensate, and natural gas correspond to 84% and 16% of this […]
Petrobras Reaches 2023 Production Target
(Petrobras, 26.Jan.2024) — Petrobras reached total oil and natural gas production of 2.78 MMboed in 2023, 3.7% higher than the production recorded in 2022. Commercial production of oil and natural gas was 2.44 MMboed and oil production 2.24 MMbpd. These results exceeded our Strategic Plan 23-27 guidances and were in […]
Democratic Leaders Response to Biden’s US LNG Export Decision
(The Natural Allies Leadership Council, 26.Jan.2024) — The Natural Allies Leadership Council, including former Senator Mary Landrieu (D-LA), former Congressman Tim Ryan (D-OH), former Congressman Kendrick Meek (D-FL) and former Philadelphia Mayor Michael Nutter, issued the following statement regarding the Biden Administration’s decision to delay the approval of new U.S. […]
DOE Halting LNG Export Projects
(DOE, 26.Jan.2024) — The United States Department of Energy (DOE) today provided notice that it will initiate a process to update the assessments used to inform whether additional liquefied natural gas (LNG) export authorization requests to non-Free Trade Agreement countries are in the public interest. The United States is the […]
Petrobras on Board Member Appointment
(Petrobras, 26.Jan.2024) — Petrobras, further to the announcement made on 01/22/2024, informs that its Board of Directors has appointed Mr. Renato Campos Galuppo as a board member. The analysis and election process was submitted to the applicable governance procedures, and no impediment was found to the assumption of a management […]
Norfolk Reports 4Q:23 and FY: 23 Results
(Norfolk, 26.Jan.2024) — Norfolk Southern Corporation (NYSE: NSC) announced its fourth quarter and full-year 2023 financial results. For the quarter, income from railway operations was $808mn and diluted earnings per share were $2.32. These fourth quarter results include a $150mn charge associated with the incident in Eastern Ohio inclusive of […]
RPC Reports 4Q:23, FY:23 Financial Results
(RPC, 25.Jan.2024) — RPC, Inc. (NYSE: RES) announced its unaudited results for the fourth quarter and full year ended 31 Dec. 2023. * Non-GAAP and adjusted measures, including adjusted operating income, adjusted net income, adjusted earnings per share (diluted), EBITDA and adjusted EBITDA, adjusted EBITDA margin, and free cash flow […]
Kootenay Updates Estimates at La Cigarra Project, Chihuahua Mexico
(Kootenay, 25.Jan.2024) — Kootenay Silver Inc. (TSXV: KTN) announced an updated Mineral Resource Estimate (“MRE”) on its 100% owned La Cigarra Project, located in the Parral Silver District of Chihuahua State, Mexico. The current Resource Estimate, calculated by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services in accordance with NI 43-101 standards […]
Talos Announces Pricing of Two Upsized Offerings
(Talos, 25.Jan.2024) — Talos Energy Inc. (NYSE: TALO) announced that its wholly owned subsidiary Talos Production Inc. priced an upsized offering of $625mn in aggregate principal amount of new 9.000% Second-Priority Senior Secured Notes due 2029 and $625mn in aggregate principal amount of new 9.375% Second-Priority Senior Secured Notes due […]
Aker BP awarded 27 licenses in APA 2023
(Aker BP, 25.Jan.2024) — The Norwegian authorities are offering Aker BP ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round. For 17 of the licenses Aker BP is also granted operatorship. The award consolidates our position as the most active independent exploration […]
Golden Agri-Resource, Verborg Forge Strategic Partnership
(Golden Agri-Resources, 25.Jan.2024) — Golden Agri-Resources (GAR), a global agribusiness and palm oil producer, is pleased to announce a strategic partnership with Verborg Group, a new entrant in the vegetable oil market. The collaboration entails a multi-year contract, where GAR will be the exclusive supplier of over a million tons […]
Biden-Harris Earmark $254mn to Decarbonization
(DOE, 25.Jan.2024) — In support of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) announced $171mn for 49 projects across 21 states to reduce industrial greenhouse gas (GHG) emissions and accelerate the development of innovative decarbonization technologies. DOE also announced that applications are open for an $83mn […]
Earnings Look Forward, Highlighting Deltas: Evercore ISI
(Evercore ISI, 24.Jan.2024) — It became clear a number of weeks ago that this was not the quarter for all the gory detail on current quarter prints or outlooks particularly for most E&Ps. There is little reason to believe earnings season will stop being the key volatility event of the […]