(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, […]
Tag: COVID-19
Global Economic Growth Slows Amid Gloomy Outlook
(IMF, 26.Jul.2022) — The global economy, still reeling from the pandemic and Russia’s invasion of Ukraine, is facing an increasingly gloomy and uncertain outlook. Many of the downside risks flagged […]
World Bank: Global Growth to Slow Through 2023
(World Bank, 11.Jan.2022) — Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, […]
CNOOC’s Production Hits Record High
(CNOOC Limited, 25.Mar.2021) — CNOOC Limited announced its 2020 annual results for the year ended 31 December 2020. In 2020, CNOOC Limited strengthened confidence, focused on its own development, proactively […]
Mexico Plans To Help Pemex But Limit Covid Spending
(Bloomberg, 17.Feb.2021) — Mexico is preparing a significant tax break for its state-owned oil firm while the constitution blocks it from taking on debt to increase social spending during the […]
IMF: World Economic Outlook Update
(IMF, 31.Jan.2021) — The International Monetary Fund (IMF) expects policy support and vaccines for Covid-19 to lift economic activity worldwide. Policy Support and Vaccines Expected to Lift Activity Although recent […]
FMC Updates 4Q:20 Outlook, Highlights Brazil, Argentina
(FMC, 19.Jan.2021) — FMC Corporation it is reducing its fourth quarter 2020 outlook. The company is proceeding through its quarterly close, and based on preliminary results expects fourth quarter revenue […]
Global Witness Withdraws Guyana Report
(Global Witness, 11.Jan.2021) — The climate emergency is the greatest threat facing the world. If we are to prevent its worst impacts we all must act now. For Global Witness […]
Petrobras Reports Record Production In 2020
(Petrobras, 7.Jan.2021) — Petrobras registered records in its 2020 annual oil production and total annual production (oil and gas) of, respectively, 2.28 million barrels per day (bpd) of oil and […]
Eurasia Group Publishes Top Risks For 2021
(Eurasia Group, 4.Jan.2021) — As we begin 2021, the United States is the most powerful, politically divided, and economically unequal of the world’s industrial democracies. China is America’s strongest competitor, […]
Perenco To Compensate Workers In Quarantine
(Trinidad and Tobago Newsday, 26.Dec.2020) — Perenco TT Ltd has assured that it has and will continues to fulfil its contractual obligations to its workforce, and that all personnel will […]
Citgo Plans Q4 2021 Overhaul At Corpus Christi Refinery
(Reuters, 21.Dec.2020) — Citgo Petroleum Corp plans an overhaul at its 167,500 barrel-per-day (bpd) Corpus Christi, Texas, refinery in the fourth quarter of 2021, the company said on Monday. The […]
Gov’t Worked With Exxon For Maximum Production
(DPI, 20.Dec.2020) — The government of Guyana says it welcomes the announcement by US oil and gas company ExxonMobil that it has reached maximum production of 120,000 barrels of oil […]
Rescheduling Of Work In Corentyne Block, Guyana
(Frontera, 27.Nov.2020) — Frontera Energy Corporation and CGX Energy Inc, the joint venture partners, announce that their constructive and collaborative discussions with the Government of Guyana have been concluded with […]
ExxonMobil To Reduce Staff Levels In Canada
(Exxon, 25.Nov.2020) — As part of an ongoing global review to identify cost efficiencies and improve long-term competitiveness, staffing levels will be reduced at ExxonMobil’s Canadian affiliates. It is anticipated […]
Nigeria In Recession, Impacted By COVID-19, Oil
(Reuters, 21.Nov.2020) — Nigeria has slipped into a recession after its gross domestic product contracted for the second consecutive quarter, according to data released on Saturday which showed the impact […]
ExxonMobil To Reduce US Staff Levels
(Exxon, 30.Oct.2020) — As part of an extensive global review announced earlier this year, the company plans to reduce staffing levels in the United States, primarily at its management offices […]
Latin America Peers Warily Into US Election Mirror
(Argus, 30.Oct.2020) — The region’s recovery from Covid-19 will depend heavily on who is dictating US policy, writes Patricia Garip. Waves of political chaos that recurrently engulf Latin America were […]
Simón Bolívar Foundation Rejects Maduro Allegations
(Citgo, 30.Oct.2020) — Given the recent accusations made by representatives of the Nicolás Maduro regime, the Simón Bolívar Foundation, the private non-profit foundation of Citgo Petroleum Corporation, categorically rejects the […]
Petrobras Boosts Production Outlook
(Reuters, 20.Oct.2020) — Brazilian state-run oil company Petrobras said on Tuesday that 2020 production should exceed previously disclosed estimates, as the firm ramps up production at some of its most […]
OAS Mission In Bolivia To Observe Elections
(OAS, 9.Oct.2020) — The Electoral Observation Mission (EOM) of the Organization of American States (OAS) will begin to arrive in La Paz tomorrow to begin the tasks of observation in […]
Petrobras Reports Record S-10 Diesel Production, Sales
(Petrobras, 7.Oct.2020) — Petrobras reports that in September, for the fourth month in a row, it surpassed the record production of S-10 low sulfur diesel, reaching the 1.89 million m³ […]
IMF OKs $6.5bn Extended Facility For Ecuador
(IMF, 1.Oct.2020) — The Executive Board of the International Monetary Fund (IMF) approved a 27-month extended arrangement under the Extended Fund Facility (EFF) for Ecuador, with access equivalent to SDR […]
Investors Pull Plug On Argentina’s Prized Shale Play
(Oilprice.com, 19.Sep.2020) — Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock […]
US Secretary Of State Mike Pompeo Arrives In Guyana
(DPI, 17.Sep.2020) — The arrival of United States (US) Secretary of State, Mr. Michael Pompeo on these shores today marks an historic development in the relationship between Guyana and the […]
US Secretary Of State To Reach Guyana Soon
(DPI, 17.Sep.2020) — The United States Secretary of State Mr. Michael Pompeo is set to arrive this evening and will be the highest-ranking sitting government official to visit Guyana since […]
Ecopetrol Aims To Drill 100 Permian Wells By YE:21
(Reuters, 14.Sep.2020) — Colombian oil company Ecopetrol SA aims to drill a total 100 wells by end-2021 in the Permian Basin of West Texas as global oil prices recover, Chief […]
PPSA Sale Plan Stokes Oil Contract Debate
(Argus, 12.Aug.2020) — The Brazilian government’s plan to sell state-owned pre-salt marketing company PPSA has stalled amid congressional foot-dragging over a change in pre-salt contract terms. Addressing reporters late yesterday, […]
Colombian Oil Major Reports Surprise Profits
(Oilprice.com, 12.Aug.202) — The March 2020 oil price crash and COVID-19 pandemic has hit the global energy sector hard. In response oil companies are slashing capital spending, driving down costs […]
Saudi Arabia Turns Off America’s Oil Taps Again
(Bloomberg, 9.Aug.2020) — The strategy worked wonders in 2017. It will be more challenging this time around unless the pandemic eases its grip on oil demand. For the second time […]
Trump Hits Wall With Bid To Place Ally At LatAm Bank
(Bloomberg, 7.Aug.2020) — Mexico called for delaying the election of a new chief for a key Latin American development bank amid controversy caused by U.S. President Donald Trump’s push to […]
Investors Want To Know: Colombia’s Negative Outlook
(Fitch Ratings, 22.Jul.2020) — Colombia’s sovereign metrics have deteriorated further since its April downgrade to ‘BBB-‘, underpinning the range of downside risks reflected in the country’s Negative Rating Outlook, says […]
Petronas New Energy Teams Up with Nefin Group
(Petronas, 20.Jul.2020) — Following the launch of its first solar rooftop solution, M+ by Petronas last year, Petronas New Energy is now set to grow in the domestic renewable energy […]
Siemens To Establish Mobile Working As “New Normal”
(Siemens, 16.Jul.2020) — Siemens will establish mobile working as a core component of its “new normal” and will make it a permanent standard, both during the global pandemic and beyond. […]
MERNNR Extends Offers For El Aromo And Villonaco
(Energy Analytics Institute, 10.Jul.2020) — René Ortiz, the head of Ecuador’s Ministry of Energy and Non-Renewable Natural Resources (MERNNR) extended terms for the delivery of technical and economic offers — […]
Renewables Key To LatAm Economic Recovery
(Reve, 8.Jul.2020) — The International Renewable Energy Agency (IRENA) and the Latin American Energy Organization (OLADE) will boost ties to put the renewables driven energy transformation at the heart of […]
Petrobras To Cut Over 20% Of Workforce
(Reuters, 1.Jul.2020) — Some 10,000 employees of Brazil’s Petrobras, or 22% of its workforce, have accepted voluntary buyouts, Chief Executive Roberto Castello Branco said on Wednesday, as the state-run oil […]
Brazil’s IBP Sees COVID-19 Impact Until The End Of 2021
(Reuters, 30.Jun.2020) — Brazil’s oil industry expects a recovery in domestic demand in the next months driven by growing China imports, but the negative effects of COVID-19 are expected to […]
YPF Issues Force Majeure Notice On Tango FLNG
(Reuters, 26.Jun.2020) — Belgian shipping company Exmar has said that it had received a force majeure notice from Argentine oil company YPF SA under charter and services deals for the […]
Keith Rowley’s Address – Energy, Renewables Event
(Trinidad Prime Minister, 24.Jun.2020) — Prime Minister Dr the Hon Keith Rowley’s Feature Address – Energy Efficiency and Renewables Conference 2020. Ladies and Gentlemen, a very good morning to you […]
Exxon Reduces Guyana Crude Production
(Tudor Pickering, 16.Jun.2020) — Reports out last night that XOM was forced to reduce output at its Liza Phase 1 project in the Stabroek block offshore Guyana due to an […]
Petrobras Refineries Near Pre-pandemic Levels
(Reuters, 12.Jun.2020) — Utilization rates at refineries owned by Brazil’s Petrobras are nearing pre-pandemic levels, as lower fuel imports by competitors and resilient international demand for bunker fuel provide a […]
Exxon Oil Output Falls On Gas Compressor Problem
(Stabroek News, 7.Jun.2020) — Production at Exxon-Mobil’s Liza-1 project in the Stabroek Block, offshore Guyana, has plummeted from 80,000 barrels per day (bpd) to now between 25,000 and 30,000 bpd […]
Oil Workers In Mexico Plead To Come Home
(The Guardian, 4.Jun.2020) — Dozens of Trinidad and Tobago oilfield workers in Mexico have issued a plea to the government to allow them to return home. The workers issued a […]
Pemex Continues With Tula Refinery Contingency
(Energy Analytics Institute, 3.Jun.2020) — Pemex’s “Miguel Hidalgo” refinery in Tula carried out preventive measures to mitigate the risks of the Covid-19 pandemic among its work force as well as […]
Global LNG Demand Faces Seasonal Contraction
(WoodMac, 2.Jun.2020) — The global liquefied natural gas (LNG) industry is about to face its first seasonal demand contraction since 2012, with demand in summer 2020 expected to fall 2.7% […]
Trinidad-Venezuela Ties Omit Natural Gas For Now
(Argus, 29.May.2020) — Trinidad and Tobago declared explicit support for Venezuela’s US-sanctioned government this week, but the political ties will not revive natural gas cooperation in the near term because […]
Fitch Affirms Raizen’s IDRs At ‘BBB’; Outlook Negative
(Fitch Ratings, 28.May.2020) — Fitch Ratings has affirmed Raizen Combustiveis S.A.’s and Raizen Energia S.A.’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BBB’ and National Long-Term Ratings […]
Covid-19 Crisis Could Crush Brazil’s Oil Boom
(Oilprice.com, 20.May.2020) — The coronavirus is spreading like wildfire in Brazil, and the country’s oil industry could get dragged down with it. “Brazil has the worst COVID growth rate of […]
Colombia Eyes Intervention In Oil Pipeline Tariffs
(Reuters, 20.May.2020) — Colombia’s government could make an unprecedented intervention in oil pipeline tariffs, which private producers have criticized as too high, the president of the country’s National Hydrocarbons Agency […]