(Origis Energy, 24.Jan.2024) — Origis Energy, one of America’s leading renewable energy and decarbonization solution platforms, today announced it has secured $317mn in project tax equity funding from J.P. Morgan for two utility-scale solar and solar plus battery storage projects located in New Mexico and Mississippi respectively. Escalante Solar is […]
SLB Joins LOT Network to Safeguard Innovation from Patent Litigation
(SLB, 24.Jan.2024) — SLB has joined other technology leaders such as Tesla, Microsoft, and Cisco to become part of the world’s largest patent licensing platform, the License on Transfer (LOT) Network. LOT is an international, non-profit community of more than 3,300 leading global companies across all sectors that are committed […]
The US and Angola: Partnering for Prosperity
(US State Department, 24.Jan.2024) — Secretary Antony J. Blinken will visit Luanda, Angola, 24-25 Jan. 2024, where he will meet with President João Lourenço and Foreign Minister Tete Antonio to discuss the U.S.-Angola bilateral relationship and commitments made during the U.S.-Africa Leaders Summit on key areas such as climate, food security, global health cooperation, economic engagement, […]
Petrobras Interested in Area under Production Sharing Regime
(Petrobras, 24.Jan.2024) — Petrobras expressed to the National Energy Policy Council (CNPE) its interest in the right of first refusal in a block to be tendered in the Permanent Offer System, under the Production Sharing Regime, under the terms of Law 12,351/2010 and Federal Decree 9,041/2017. Petrobras approved the expression […]
Bristow Enters Into New Equipment Financing for up to £55mn
(Bristow Group, 24.Jan.2024) — Bristow Group Inc. (NYSE: VTOL) and its subsidiaries entered into a new twelve-year secured equipment financing for an aggregate amount up to £55mn with a syndicate of banks led by National Westminster Bank Plc (NatWest). The proceeds from the financing will be used to support Bristow’s […]
TD Cowen Downgrades Chevron Stock
(Energy Analytics Institute, 24.Jan.2024) — TD Cowen downgraded Chevron Corporation’s stock to Market Perform based on its view that Permian and TCO could continue to weigh on the stock due to execution concerns. TD Cowen listed the following key points related to the downgrade: — Analysts note that CVX has […]
Aquaterra Inks Three-year Analysis Deal with UK Operator
(Aquaterra Energy, 23.Jan.2024) — Aquaterra Energy, involved in global offshore energy engineering solutions, has secured a three-year contract with a leading UK independent exploration and production company to provide analysis services across the company’s global offshore operations – delivering vital insights to optimise their operational performance. The contract will see […]
Recording-Setting Transactions in 4Q:23 Worth for Upstream M&A
(Enverus, 23.Jan.2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity. Q4 recorded a massive $144bn in upstream M&A, the largest quarter EIR has tracked. That pushed full-year 2023 value to more than $190bn, also […]
Uganda on $4bn Financing for Domestic Refinery
(Uganda Government, 23.Jan.2024) — Final negotiations for the financing and construction of Uganda’s $4bn domestic refinery began this month after Alpha MBM Investments from the United Arab Emirates was chosen by the government of Uganda as preferred bidder. The breakthrough was announced by Ruth Nankabirwa, Uganda’s Minister of Energy and […]
BP sees Trinidad Deepwater Gas Getting Greenlight as soon as 2025
(Reuters, 23.Jan.2024) — BP expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said. BP, which holds a 30% stake in […]
Venezuela: Arrests and Detentions of Opposition, Civil Society
(US State Department, 23.Jan.2024) — The United States is deeply concerned by the issuance of arrest orders and detentions against at least 33 Venezuelans, including members of the democratic opposition, civil society, former members of the military, and journalists. Arrests without due process run contrary to the spirit of the […]
Coretrax Starts 2024 with Clutch Contracts, Ambitious Growth Plans
(Coretrax, 22.Jan.2024) — Coretrax, involved in oil and gas well integrity and production optimisation, is set for further growth with five multi-year contract wins secured for 2024 and plans to grow its footprint in Asia Pacific by a further 30% this year. The company also expects to increase its 320 -strong […]
W&T Offshore Closes Acquisition of Six GOM Fields
(W&T Offshore, 22.Jan.2024) — W&T Offshore, Inc. (NYSE: WTI) has completed the accretive acquisition of six fields in shallow waters of the Gulf of Mexico. W&T was the successful bidder for certain synergistic assets in the Gulf of Mexico offered by MLCJR LLC, Cox Oil Offshore, L.L.C., Cox Operating, L.L.C., […]
Sunoco to Buy NuStar in Deal Valued at $7.3bn
(Reuters, 22.Jan.2024) — Sunoco LP (NYSE: SUN) and NuStar Energy L.P. (NYSE: NS) announced that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3bn, including assumed debt. Transaction Details Under the terms of the agreement, NuStar common unitholders will receive 0.400 Sunoco common units for each NuStar common […]
Exxon Activists Banished Best with Vote, Not Court
(Reuters, 22.Jan.2024) — Exxon Mobil (XOM.N), opens new tab is trying to banish a climate activist proposal in a Texas court. The $385 billion oil giant would be better off leaving its own shareholders to do so. After all, similar measures have resoundingly failed before. Choosing to instead fight against a vote is […]
Petrobras Informs Resignation, Appointment of BODs Member
(Petrobras, 22.Jan.2024) — Petrobras received a letter of resignation from Mr. Efrain Pereira da Cruz from the position of Board Member and member of the Investment Committee. Due to the vacancy, the Federal Government, through a letter from the Ministry of Mines and Energy, appointed Mr. Renato Campos Galuppo to […]
PM Rowley Attends 2024 Opening of Trinidad Energy Conference
(Office of the PM of Trinidad and Tobago, 22.Jan.2024) — Prime Minister Dr the Hon. Keith Rowley officially opened the 2024 Energy Conference and Trade Show hosted by the Energy Chamber of Trinidad and Tobago at the Hyatt Regency Trinidad in Port of Spain on Monday, 22 Jan. 2024. Under […]
Trinidad in Talks with Europe to Supply Venezuelan Gas
(Reuters, 22.Jan.2024) — Trinidad and Tobago has begun talks with some European countries on the supply of liquefied natural gas (LNG) produced from Venezuelan gas, Prime Minister Keith Rowley said on Monday. Venezuela’s government in December granted a 30-year license to Shell (SHEL.L), opens new tab and Trinidad’s National Gas Company (NGC) for joint […]
DeepOcean Completes Trenching Project in US GOM
(DeepOcean, 22.Jan.2024) — The US operation of ocean services provider DeepOcean has successfully completed the burial of a fuel support pipeline in the US Gulf of Mexico on behalf of Genesis Energy after introducing its jet trenching system to the US market. DeepOcean’s cutting-edge trenching system, UT-1, was utilised for […]
S&P Maintains Ecopetrol’s Credit Rating at BB+
(Ecopetrol, 19.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that S&P Global Ratings modified the outlook of Ecopetrol’s credit rating from stable to negative, as a result of the review in the outlook of Colombia’s credit rating, also from stable to negative. Likewise, S&P confirmed that Ecopetrol’s global rating is maintained […]
US Court Accepts $20.8bn in Claims Against Venezuela in Citgo Auction
(Reuters, 19.Jan.2024) — A U.S. court on Friday approved claims by 17 Venezuela-linked creditors, including ConocoPhillips, Rusoro Mining and Koch Industries, to get proceeds from a coming auction of shares in the parent of Venezuela-owned oil refiner Citgo Petroleum to satisfy claims for expropriations and debt defaults. The list, which […]
Port of Corpus Christi Moved Record Tonnage in 2023
(Port of Corpus Christi, 18.Jan.2024) — Port of Corpus Christi customers set a new high mark in annual tonnage during 2023, moving more than 200 million tons of goods through the Corpus Christi Ship Channel for the first time in its history. The 203 million tons moved in 2023 was […]
CGG to Support Critical Mineral Exploration in Mongolia
(CGG, 18.Jan.2024) — CGG has been selected by the French government as a technical partner to support the LiMongolia project, a joint initiative by the National Geological Survey of Mongolia (NGS) and the French geological survey, BRGM, to evaluate the regional prospectivity of Mongolia for critical minerals, particularly uranium and […]
Ecopetrol Says to Conduct Further Tests at Arauca 8 Well
(Energy Analytics Institute, 18.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) said that in order to determine the materiality of the Arauca 8 well discovery, it would be necessary to complete the analysis and evaluation tests of said well. The Arauca 8 well is located in the Municipality of Saravena […]
Port of Corpus Christi Surpassed 200Mt for First Time in 2023
(Port of Corpus Christi, 18.Jan.2024) — Port of Corpus Christi customers set a new high mark in annual tonnage during 2023, moving more than 200 million tons of goods through the Corpus Christi Ship Channel for the first time in its history. The 203 million tons moved in 2023 was […]
Mark Loquan Departs NGC after Eight Year Tenure
(NGC, 18.Jan.2024) — The National Gas Company of Trinidad and Tobago Limited (NGC) wishes to announce that Mark Loquan will not renew his contract with NGC; and his appointment as Director on the NGC Board and its affiliates will also cease. This becomes effective on 31 Aug. 2024, and follows […]
Ecopetrol Reveals Senior Management Changes
(Ecopetrol, 17.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, the following changes will be made in its senior management: Alejandro Arango, who has been serving as Corporate Vice President of Human Talent, presented his voluntary resignation from the position, which was accepted as of 18 Jan. 2024. Victoria Irene […]
Trinidad Energy Chamber Comments on Paria Incident
(The Energy Chamber, 17.Jan.2024) — The Energy Chamber of Trinidad & Tobago welcomes the fact that the report from the Commission of Enquiry into the tragic Paria incident has been made public. Sharing the lessons gathered from this incident is critical for the prevention of similar events in the future. […]
Cochilco Eyes Higher Copper Prices in 2024-25
(Energy Analytics Institute, 17.Jan.2024) — Cochilco expects its average copper price to reach $3.85 per pound (lb) in 2024. This compares to $3.80/lb in 2023, the company announced 17 Jan. 2024 on Instagram. The company expects the price to average $3.90/lb in 2025. Cochilco said the higher prices were due […]
Staatsolie’s Jagesar Emphasizes Need for National Model
(Energy Analytics Institute, 17.Jan.2024) — Staatsolie managing director Annand Jagesar emphasized the importance of developing a national model for regulation, exploration and development. Jagesar’s comments were made on 17 Jan. 2024, according to a post by the AAPG SPE, and at the start of a two-day multidisciplinary program titled: “Technical […]
NGC Green Joins NGC Group of Companies
(NGC, 17.Jan.2024) — Over the past few years, the local energy sector has been embracing the transition towards a cleaner energy future. NGC has been leading that movement, by pursuing a diverse Green Agenda, and integrating sustainability into all aspects of our business. NGC has delivered a milestone achievement to […]
Talos Reveals Commencement of Underwritten Public Offering
(Talos, 17.Jan.2024) — Talos Energy Inc. (NYSE: TALO) commenced an underwritten public offering of $300mn of shares of its common stock, par value $0.01 per share. The company expects to grant the underwriters a 30-day option to purchase $45mn of additional shares of its common stock. The company intends to use the net proceeds from this […]
Gas Prices Down 45% as 2024 Set to Remain Bearish
(Wood Mackenzie, 17.Jan.2024) — The market sentiment for gas and liquefied natural gas (LNG) will remain bearish into 2024 with European prices having fallen by 45% to US$10 per million British thermal units (mmbtu) in the past three months according to a report by Wood Mackenzie. The report ‘Global Gas and […]
Dtek Buys Stryde Seismic System for Ukraine Exploration
(Stryde, 17.Jan.2024) — Stryde agreed a deal to provide Ukraine’s leading and biggest private energy operator, Dtek Oil&Gas with 30,000 Stryde™ and its Nimble System™ to acquire 3D and 2D seismic surveys across the country. The new contract will see Stryde deliver its portable and agile nodal system to support […]
Ecopetrol Prices Cash Tender Offer for Outstanding 4.125% Notes due 2025
(Ecopetrol, 16.Jan.2024) — Ecopetrol S.A. (NYSE: EC) announced the tender offer consideration (the “Total Consideration”) payable in connection with the previously announced cash tender offer (the “Offer”) by Ecopetrol, which commenced on 9 Jan. 2024, to purchase any and all of its outstanding 4.125% Notes due 2025 (the “Securities”), upon […]
Exxon to Buy Another 1.2 mtpa of LNG from Mexico Pacific
(Reuters, 16.Jan.2024) — Mexico Pacific said on Tuesday it had reached a deal to supply Exxon Mobil with an additional 1.2 million tonnes per annum of liquefied natural gas, clearing the way for a final investment decision to expand its Saguaro Energia LNG plant. ExxonMobil LNG Asia Pacific tied up […]
![OFAC Updates on PDVSA Bond, Transactions [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/06/BCS-Blog-What-is-the-OFAC.jpg)
OFAC Updates on PDVSA Bond, Transactions [PDF Download]
(Energy Analytics Institute, 16.Jan.2024) — The US Office of Foreign Assets Control (OFAC) authorized certain transactions related to state-owned Petróleos de Venezuela, S.A.‘s 2020 8.5% bond on or after 16 Apr. 2024, the agency revealed 16 Jan. 2024 in an official statement. ____________________ By Piero Stewart. © Energy Analytics Institute […]
Aker BP and DeepOcean Finish Autonomous Inspection Trials
(DeepOcean, 16.Jan.2024) — DeepOcean and Aker BP successfully completed subsea trials with an Autonomous Inspection Drone (AID) at the Aker BP operated Alvheim field in the central North Sea. “While testing of autonomous technology is exciting on its own, our primary purpose was to find out if subsea inspection can […]
Port of Corpus Christi Commission Names New Officers
(The Port of Corpus Christi, 16.Jan.2024) — The Port of Corpus Christi Commission named new officers and announced two new Commissioners who took their oaths of office, administered by Nueces County Judge Connie Scott, at the Congressman Solomon P. Ortiz International Center during the governing body’s first meeting of the […]
Exergy Supports Decarbonization in Turkey
(Exergy International, 16.Jan.2024) — Exergy International, a global provider of clean energy technology, leader in new generation geothermal ORC power plants, yesterday signed a contract with Emirler Enerji Elektrik Uretim A.S. for the supply of a 8 MWe geothermal binary plant, the Emirler 1 JES Unite 2, located in Saraykoy, in Denizli region, Turkey. Exergy […]
Coretrax Buys Well Technology, Secures Fresh Deals
(Coretrax, 16.Jan.2024) — Coretrax, a global leader in oil and gas well integrity and production optimisation, has strengthened its well intervention capabilities after acquiring a complementary suite of technology from Wireline Drilling Technologies. The significant investment has expanded Coretrax’s offering. Since completing the acquisition, the firm has signed a global route to […]
Strohm Completes First TCP Jumper in West Africa
(Strohm, 16.Jan.2024) — Strohm, the world’s first and leading TCP technology company, has supplied TotalEnergies with a thermoplastic composite pipe (TCP) Jumper, which has been commissioned in deep water (1600 m) in West Africa. This installation has followed a rigorous testing programme, during which TotalEnergies qualified the Netherlands-based company’s TCP Jumper for […]
1PointFive and Trafigura Announce DAC Credit Agreement
(1PointFive, 16.Jan.2024) — 1PointFive, a carbon capture, utilization and sequestration (CCUS) company, and Trafigura, a market leader in the global commodities industry, announced that Trafigura has agreed to purchase carbon dioxide removal (CDR) credits to be produced from 1PointFive’s first industrial-scale Direct Air Capture (DAC) facility, STRATOS, which is currently […]
US Corporate Defaults Fueled 80% Jump in Global Tally in 2023
(S&P Global Ratings, 16.Jan.2024) — The number of global corporate defaults rose 80% in 2023, S&P Global Ratings Credit Research & Insights said today in a new report, and more credit deterioration is likely in 2024 amid slowing economic growth and high financing costs. In “Corporate Defaults Jumped 80% In […]
Mexico Pacific Inks Optional LNG Offtake with ExxonMobil
(Mexico Pacific, 16.Jan.2024) — Mexico Pacific signed a third long-term Sales and Purchase Agreement (SPA) with ExxonMobil LNG Asia Pacific (EMLAP) for an additional 1.2 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Train 3 of Mexico Pacific’s Saguaro Energia project located on the west coast of […]
![Guyana’s Finance Minister Presents 2024 Budget [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2024/01/guyana-presupuesto-2024-source-guyana-govt.png)
Guyana’s Finance Minister Presents 2024 Budget [PDF Download]
(Guyana’s Finance Ministry, 15.Jan.2024) — Guyana’s Finance Minister Dr. Ashni K. Singh, M.P presenting the South American country’s budget for 2024, highlighting the nascent oil and gas sector, which continues to drive growth in gross domestic product (GDP). ____________________
Talos Announces Strategic $1.3bn Acquisition of QuarterNorth
(Talos, 15.Jan.2024) — Talos Energy Inc. (NYSE: TALO) announced the execution of definitive agreements to acquire QuarterNorth Energy Inc. for $1.29bn (the “Transaction”). QuarterNorth is a privately-held U.S. Gulf of Mexico exploration and production company with ownership in several prolific offshore fields. QuarterNorth’s assets will provide additional scale from high […]
Aker BP 4Q:23 Trading Update
(Aker BP, 15.Jan.2024) — Aker BP (OSE: AKRBP) (OTCQX: AKRBF; AKRBY) announces its preliminary production and sales figures for the fourth quarter 2023. The company’s equity production for the period was 444.3 thousand barrels of oil equivalents per day (mboepd). Net volume sold in the quarter was 466.9 mboepd. For the […]
Xergy Opens News Offices in Australia and Scotland
(Xergy, 15.Jan.2024) —Technology company, Xergy, has opened new offices in Perth, Australia, and Dundee in Scotland to support increasing demand for its project management software, Proteus. The new offices have created 10 new roles, taking Xergy’s total workforce to 34. Headquartered in Scotland’s energy capital, Aberdeen, with an office in […]
Golden Arrow Announces $5mn Option Agreement
(Golden Arrow, 12.Jan.2024) — Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF) announced that New Golden Explorations Chile SpA (NGE), a wholly-owned subsidiary of the company, has entered into an option agreement (fully executed 9 Jan. 2024) with Sociedad de Servicios Andinos SpA (SSA). Under the option agreement, NGE has granted […]