Editores LatinPetroleum

Petrobras on Exploratory Blocks in São Tomé and Príncipe

(Petrobras, 27.Dec.2023) — Petrobras‘ Board of Directors has approved the company’s operations in São Tomé and Príncipe, a country on the west coast of Africa, enabling the acquisition of stakes in 3 exploratory blocks, through a competitive process conducted by Shell. The transaction is part of the scope of the […]

Petrobras on Remuneration Payment to Shareholders

(Petrobras, 27.Dec.2023) — Petrobras, following up on the Material Facts of 1 Mar. 2023, 27 Apr. 2023 and 22 Dec. 2023, will pay today the third installment of the remaining remuneration to shareholders for 2022. The gross amount to be distributed is R$ 0,56252157 per common and preferred share in […]

Argentina’s Milei to Prohibit Rehiring Public Workers

(Energy Analytics Institute, 26.Dec.2023) — Argentina’s president Javier Milei published a decree that prohibits the renewal of jobs of public workers hired in 2023. The decision is part of adjustments by Milei intended to reduce state spending, Venezuela’s daily El Universal reported 26 Dec. 2023 citing data from Argentina’s La […]

Petrobras on Obligation Breach at Carmópolis Cluster

(Petrobras, 26.Dec.2023) — Petrobras, following up on the material fact disclosed on 20 Dec. 2022, informs of the non-compliance with the contractual payment obligation of Carmo Energy and its parent company COBRA INSTALACIONES Y SERVICIOS, S.A., as guarantor, related to the sale of all of its stakes in the set […]

Petrobras Approves Social Responsibility Policy [PDF Download]

(Petrobras, 26.Dec.2023) — Petrobras‘ Board of Directors approved a new Social Responsibility Policy, in line with best practices, after an extensive listening process with the participation of the company’s various stakeholders. The main changes include: Total attention to people, respect, promotion and due diligence in human rights, effective management of […]

Asia
China

XCMG Commissions World’s First New Energy Loader Production Line

(XCMG, 26.Dec.2023) — XCMG Machinery (SHE: 000425, “XCMG”) has officially inaugurated the XCMG Loading Equipment Research Institute and commissioned the world’s first new energy loader production line in Xuzhou, China. “The Institute will play a vital role in the transformation and upgrade of the industry centered on green, intelligent, high-end, […]

AEP to Divest New Mexico Solar Assets

(American Electric Power, 26.Dec.2023) — American Electric Power (Nasdaq: AEP) has entered into an agreement to sell its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC. AEP and PNM Resources, which also owns 50% of NMRD, plan to sell the portfolio of 15 solar […]

Petrobras Starts Equatorial Margin Drilling

(Petrobras, 23.Dec.2023) — Petrobras has started drilling the Pitu Oeste (RN) well today, which marks the resumption of the company’s search for oil and gas in the Equatorial Margin, a region that stretches along the Brazilian coast from the state of Rio Grande do Norte to Amapá. The drilling of […]

NMPRC Approves PNM Distribution Battery Storage Projects

(NMPRC, 26.Dec.2023) — The New Mexico Public Regulation Commission (NMPRC) approved the application from Public Service Company of New Mexico (PNM), wholly-owned subsidiary of PNM Resources (NYSE: PNM), to install 12 megawatts of utility owned distribution-level battery storage to expand the capacity of overloaded feeders at two locations. This innovative solution supports reliability […]

Ellipsis US Acquires Additional Onshore Assets

(Ellipsis, 22.Dec.2023) — Ellipsis U.S. Onshore Holdings LLC, a portfolio company of Westlawn Group LLC, announced the acquisition of additional assets located in multiple onshore U.S. basins. Ellipsis acquired non-operated oil and gas assets with current production of more than 6,000 boe/d (2-stream) and significant operational upside associated with approximately 550 […]

Petrobras to Analyze Mubadala Capital Proposal

(Petrobras, 22.Dec.2023) — Petrobras has received a communication from Mubadala Capital proposing the formalization of recent discussions on the formation of a potential strategic partnership for the development of downstream in Brazil, in continuity with the memorandum of understanding released on 4 Sep. 2023. The initiative has as its scope […]

Petrobras on Dividend Payments

(Petrobras, 22.Dec.2023) — Petrobras, following up on the press releases published on 03/01/2023 and 04/27/2023, informs that it will pay next week, on 12/27/2023, the third installment of the complementary dividends referred to the 2022 fiscal year, based on shareholding position as of 04/27/2023, in connection to the Material Fact […]

Petrobras Informs on Petros Plan Equalization

(Petrobras, 22.Dec.2023) — Petrobras informs that its Board of Directors approved, at a meeting held today, the Deficit Equalization Plan for 2022 (PED-2022) of the Non-Renegotiated Petrobras System Petros Plan (PPSP-NR) and its submission for consideration by the Secretariat for Coordination and Governance of State-Owned Enterprises (SEST). The PED-2022 provides […]

The Energy Chamber: Dragon Deal a Historic Achievement

(Trinidad and Tobago Energy Chamber, 22.Dec.2023) — The Ministry of Energy and Energy Industries has announced that the Bolivarian Republic of Venezuela has granted the license for the Dragon Gas Field to The National Gas Company of Trinidad and Tobago Limited and Shell to develop and produce gas for export […]

Trinidad Inks Gas Deal with Venezuela

(Trinidad and Tobago Ministry of Energy and Energy Industries, 22.Dec.2023) — Historic and unprecedented energy deals for Trinidad and Tobago that provide us with positive outlooks for our future, the Honorable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister […]

Petrobras Updates on Asset Divestments

(Petrobras, 21.Dec.2023) — Petrobras, following up on the releases disclosed on 09/08/2021, 10/27/2021 and 03/29/2023, informs that it has signed today, with Enauta Energia S.A., contracts for the assignment of its entire stake in the Uruguá and Tambaú fields, in deep waters in the post-salt, located in the Santos Basin. […]

Luca Mining Closes CAD$2mn Private Placement

(Luca Mining, 21.Dec.2023) — Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) closed the CAD $2mn non-brokered private placement (announced on 6 Dec. 2023. In total, the company sold an aggregate of 5,714,286 units of the company at a price of CAD$0.35 per Unit for gross proceeds of CAD$2mn. In addition to the base CAD$2mn funding, Luca […]

Ecopetrol Publishes Measures for Jan. 2024 Meeting

(Ecopetrol, 21.Dec.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that in order to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendency of Colombia (E.C. 029 of 2014), the Board of Directors of Ecopetrol approved the implementation of measures aimed at […]

Tice Family on Release of US Prisoners from Venezuela

(National Press Club, 21.Dec.2023) — Following is a statement via the National Press Club from the family of long-detained journalist Austin Tice, on the release of 10 imprisoned Americans in a prisoner swap with Venezuela. “The news of the release of the US hostages from Venezuela is uplifting and encouraging. No doubt a joyful […]

Harbour, Wintershall Dea Sign Business Combination Agreement

(Wintershall Dea, 21.Dec.2023) — BASF, LetterOne and Harbour Energy plc (21 Dec. 2023) signed a business combination agreement to transfer Wintershall Dea’s E&P business consisting of its producing and development assets as well as exploration rights in Norway, Argentina, Germany, Mexico, Algeria, Libya (excluding Wintershall AG), Egypt and Denmark (excluding […]

Harbour and Wintershall Dea Ink $11.2bn Deal [PDF Download]

(BASF, 21.Dec.2023) — BASF, LetterOne and Harbour Energy plc (21 Dec. 2023) signed a business combination agreement to transfer Wintershall Dea’s E&P business consisting of its producing and development assets as well as exploration rights in Norway, Argentina, Germany, Mexico, Algeria, Libya (excluding Wintershall AG), Egypt and Denmark (excluding Ravn) as […]

Tellurian to Pay Over $7mn to Departing Souki [PDF Download]

(Energy Analytics Institute, 20.Dec.2023) — Tellurian Inc., which is developing the Driftwood LNG project in Louisiana, revealed details regarding compensation for Charif Souki. “As previously disclosed, on 8 Dec. 2023 (the “Termination Date”), pursuant to and in accordance with that certain employment agreement entered into as of 1 Oct. 2021 […]

Volvo Delivers First Electric Trucks in LatAm

(Volvo, 20.Dec.2023) — Volvo Trucks has delivered eight heavy electric trucks to customers in Brazil, Chile and Uruguay. These orders represent Volvo’s first sales of zero-exhaust emission trucks to Latin America. Volvo Trucks is continuing to enter new markets with its battery electric trucks. The company has now delivered its first […]

SSR Mining Updates on Sale of EMX Units

(SSR Mining, 20.Dec.2023) — SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) entered into an agreement with Scotiabank under which the bank will purchase by way of a block trade 6,161,524 units at a price of C$1.93 per unit for gross proceeds to SSR Mining of C$11,891,741 (approximately $8.9mn) (the “sale”). […]

Venezuela grants Dragon gas field license

HOUSTON, TEXAS (Piero Stewart, Energy Analytics Institute, 20.Dec.2023) — The National Gas Company of Trinidad and Tobago (NGC) and Shell were granted a license for the exploration and exploitation of non-associated gas in the Dragon field, located in Venezuela’s Paria peninsula. The license was granted during a signing ceremony in […]

Kodiak Gas to Buy CSI Compressco in $854mn All-Equity Deal

(CSI Compressco, 19.Dec.2023) — Kodiak Gas Services, Inc. (NYSE: KGS) and CSI Compressco LP (NASDAQ: CCLP) executed a definitive merger agreement under which Kodiak will acquire CSI Compressco in an all-equity transaction valued at approximately $854mn, including the assumption of $619mn of net debt, based on the closing price of Kodiak’s stock on 18 Dec. 2023. […]

GoGold Completes Construction of Zinc Circuit at Parral

(GoGold, 19.Dec.2023) — GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) announces the financial results for the year ending 30 Sep. 2023, with Parral generating $30mn (all amounts are in U.S. dollars) from the sale of 1.4 million silver equivalent ounces. “As we look forwards towards 2024 and the opportunity for value creation for GoGold shareholders, it […]

Scotland
UK

EnerMech Extends Training with OPITO Accreditations

(EnerMech, 19.Dec.2023) — EnerMech’s training centre in Aberdeen has achieved two additional OPITO global training accreditations, allowing the business to develop the skills and competencies of personnel working in lifting operations in any industry around the world. The company’s dedicated facility was originally established to upskill the North Sea’s offshore […]

New Generation Takes Over at Exmar

(Exmar, 19.Dec.2023) — Listed Belgian shipowner sets a strategic milestone as Carl-Antoine Saverys will be the new CEO, taking over from Francis Mottrie who will stay on board as COO. Carl-Antoine Saverys will take over formally as CEO from 1 Jan. 2024. After assuming various roles in the shipping industry, […]

Shell Invests in GOM Sparta Development

(Shell, 19.Dec.2023) — Shell Offshore Inc., a subsidiary of Shell plc, announced the Final Investment Decision (FID) for Sparta, a deep-water development in the U.S. Gulf of Mexico that represents our competitive approach to simplifying and replicating projects. Owned by Shell Offshore Inc. (51% operator) and Equinor Gulf of Mexico LLC (49%), […]

enCore Energy Transfers to NASDAQ

(enCore Energy Corp., 19.Dec.2023) — enCore Energy Corp. (NYSE American: EU) (TSXV: EU) will transfer its stock exchange listing to the Nasdaq Capital Market from the NYSE American LLC. The company shares will continue to trade under the ticker symbol “EU” with expectations that the listing will commence on the […]

Treasury International Capital Data for Oct.

(US Treasury, 19.Dec.2023) — The US Department of the Treasury released Treasury International Capital (TIC) data for Oct. 2023. The next release, which will report on data for Nov. 2023, is scheduled for 19 Jan. 2024. The sum total in Oct. of all net foreign acquisitions of long-term securities, short-term […]

Brazil Long-Term Ratings Upgraded To ‘BB’ From ‘BB-‘

(S&P Global, 19.Dec.2023) — S&P Global Ratings raised its long-term global scale ratings on Brazil to ‘BB’ from ‘BB-‘. The outlook on the long-term ratings is stable. We affirmed Brazil’s global scale short-term ratings at ‘B’ and our national scale long-term rating at ‘brAAA’. We also raised the transfer and […]

Perenco Brazil Announces First Oil to FSO Pargo

(Perenco, 19.Dec.2023) — Perenco Brazil announced that first oil to the Floating Storage and Offloading (FSO) vessel, “FSO PARGO”, has been successfully received following issuance of all operational licensing from the Brazilian regulatory authorities earlier in Dec. 2023. The vessel’s operational start-up is the culmination of significant workstreams from Perenco’s […]

Coretrax Reveals Sales and Operations Appointments

(Coretrax, 19.Dec.2023) — Coretrax, an oil and gas well integrity and production optimisation, has appointed Colin Graham as the company’s first sales and operations manager for Africa as it plans for further growth in the region. Colin joins the business with nearly four decades of oil and gas industry […]

England
UK

Nabors Completes Business Combination Between NETC

(Nabors, 19.Dec.2023) — Nabors Industries Ltd. (NYSE: NBR) issued the following statement from Chairman, President and CEO Anthony G. Petrello regarding the closing of the previously announced business combination between Nabors Energy Transition Corporation (NETC), the special purpose acquisition company (SPAC) sponsored by Nabors, and Vast Renewables Limited. The combined company now trades […]

AquaShip AS and Intership AS Merge

(AquaShip and Intership, 18.Dec.2023) — American Industrial Partners Capital Fund VII, LP, an investment fund managed by American Industrial Partners (AIP) announced that it has become the majority and controlling shareholder in AquaShip AS and Intership AS and will merge the two companies to form one of the largest, most […]

Nature Wood Announces 1H:23 Financial Results

(Nature Wood, 18.Dec.2023) — Nature Wood Group Limited disclosed its unaudited financial results for the six months ended 30 Jun. 2023. Financial Highlights: Total revenue for the first half of 2023 stood at approximately $15.6mn, marking a decrease of 49.6% from the $31mn recorded in the same period of last year.The company reported […]

KAES to Buy Wever Fertilizer Plant from OCI Global for $3.6bn

(KAES, 18.Dec.2023) — Koch Ag & Energy Solutions (KAES), a global provider of solutions for the agriculture, energy and chemical markets, announced an agreement to acquire OCI Global‘s fertilizer plant in Wever, Iowa, for $3.6bn. The transaction, once finalized, will give KAES 100% ownership of the state-of-the-art facility, which was opened in […]

Germany to End EV Subsidy Programme

(Reuters, 16.Dec.2023) — Germany’s electrical vehicle subsidy programme will end prematurely on Monday after paying out some 10bn euros since 2016, the Economics Ministry said, the latest sign of belt-tightening following the adoption of a revised 2024 budget this week. The new budget had to be slimmed down after a ruling by […]

QatarEnergy Inks PSCs for Offshore Suriname Blocks

(QatarEnergy, 15.Dec.2023) — QatarEnergy signed two Production Sharing Contracts (PSCs) for Suriname’s offshore Blocks 64 and 65, which it had won during a bid round held in June 2023. Pursuant to the signed contracts, QatarEnergy will own a 30% working interest in block 64, while TotalEnergies (the operator) will own […]

TotalEnergies Expands Presence in Suriname with New License

(TotalEnergies, 15.Dec.2023) — TotalEnergies and its partners QatarEnergy and Petronas signed a production sharing contract for Block 64 with Staatsolie Maatschappij Suriname, the state-owned oil company of Suriname. “TotalEnergies is delighted to expand further its presence in offshore Suriname, together with two strategic partners. This new block fits well with […]

Petrobras Inks New Deal with Bolivia’s YPFB

(Petrobras, 15.Dec.2023) — Petrobras, further to the announcements made on 24 May 2022 and 5 Aug. 2022, informs that, after complying with internal governance procedures, it has signed a new amendment to the natural gas purchase agreement with Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). The amendment signed today changes the delivery […]

Steel Dynamics Provides 4Q:23 Earnings Guidance

(Steel Dynamics, 15.Dec.2023) — Steel Dynamics, Inc. (NASDAQ/GS: STLD) provided fourth quarter 2023 earnings guidance in the range of $2.60 to $2.64 per diluted share. Comparatively, the company’s third quarter 2023 earnings were $3.47 per diluted share and prior year fourth quarter earnings were $3.61 per diluted share. Fourth quarter 2023 profitability from the company’s steel operations is expected […]

TG Natural Resources to Buy Rockcliff Energy for $2.7bn

(Quantum, 15.Dec.2023) — Rockcliff Energy II LLC, a portfolio company of Quantum Energy Partners, announced the entry into a definitive agreement with TG Natural Resources LLC (TGNR), in which TGNR will acquire 100% of the membership interests in Rockcliff for $2.7bn, prior to customary adjustments (the “Transaction”). Rockcliff is a […]

Petrobras on First Installment of Remuneration to Shareholders

(Petrobras, 15.Dec.2023) — Petrobras, following up on the Material Fact of 08/03/2023, informs that it will pay today the first installment of the remuneration to shareholders for the second quarter of 2023. The gross amount to be distributed today is R$ 0.574652 per common and preferred share in the form […]

Petrobras Updates on Divestment of Stake in UEG Araucária S.A. (UEGA)

(Petrobras, 15.Dec.2023) — Petrobras, following up on the release disclosed on 27 Oct. 2023, informs that it has closed the competitive process for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA), together with the sale of the stakes of its partners, Companhia Paranaense […]

Brazilian Bid Round Opens New Offshore Frontier in Pelotas Basin

(WoodMac, 14.Dec.2023) — A total of 193 blocks were auctioned in Brazil’s December 13 oil and gas licensing round, 192 under concession and one under production sharing agreement, signaling strong optimism for the industry, according to Wood Mackenzie. Highlights from these bid rounds included: The total amount in bonuses was […]

S&P Global Releases its 2024 Energy Outlook

(S&P Global, 14.Dec.2023) — Analysts at S&P Global Commodity Insights, an independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities, energy and energy transition markets, today released their latest 2024 energy outlook. OVERVIEW After years of turbulence, global markets are still striving to find sustainable […]

China’s Solar Production Costs Fall by 42% in Last Year

(WoodMac, 14.Dec.2023) — The cost of producing solar modules in China has dropped by 42% in the last 12 months to US$0.15 per watt (/W) giving manufacturers in the country an enormous cost advantage over international rivals according to a new Horizons report from Wood Mackenzie. The report: ‘Top of […]