Mexico Gives An Appropriate Heisman to Renewables

Mexico Gives An Appropriate Heisman to Renewables Vijay Jayaraj Research Associate: CO2 Coalition.. .… … … [Editor’s Note: Mexico, though a socialist country, is taking a pragmatic approach with energy, putting emphasis on oil and natural gas while giving the Heisman to renewables.] Despite intense news coverage of issues surrounding the U.S. southern border, it

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Petrobras may need new bidding for LNG terminal lease

Brazilian state-run oil company Petrobras may have to start a new bidding process for the lease of a liquefied natural gas (LNG) regasification terminal in Bahia, Kallanish Energy reports. The company said late last week it opened bids from three companies: bp, Compass Gas e Energia and Golar Power. Only one commercial proposal was received,

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ExxonMobil makes new discovery offshore Guyana

ExxonMobil has announced its 18th offshore Guyana crude oil discovery at the Redtail-1 well, Kallanish Energy reports. That discovery will add to the 8 billion oil-equivalent barrels projected from the Stabroek Block. “Our Stabroek Block exploration program continues to identify high-quality reservoirs in close proximity to previous discoveries, establishing efficient opportunities for new projects in

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Exmar readies to dispute YPF’s force majeure notice

Belgium shipping company Exmar is considering the best way to defend its interests in a dispute with Argentina’s YPF, Kallanish Energy reports. The company said last week it received notification of force majeure from YPF under the Charter Agreement and Services Agreement they hold for the Tango FLNG barge. Exmar said the move is “unlawful,” and

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YPF prepares first shipment of LNG from Argentina

Argentine oil company YPF SA said it’s now loading the first shipment of liquefied natural gas for export from the South American country, Kallanish Energy reports. The shipment includes 30,000 cubic meters (1.06 million cubic feet, or Mmcf) of LNG from the Vaca Muerta Shale play, YPF said, in a statement. “This is the first

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Petrobras to sell onshore fields

Brazilian multinational corporation Petrobras Monday launched the sale of two sets of onshore concessions, Kallanish Energy learns. The concessions are located in the northeastern state of Bahia, where Petrobras is operator and fully owns all but two concessions. The deadline for applications is Jun. 24. The Recôncavo Cluster is comprised of 14 onshore fields, which last year

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Venezuela’s crude production lowest in 16 years

In April 2019, Venezuela’s crude oil production averaged 830,000 barrels per day, down from 1.2 million barrels per day (Mmbpd) at the beginning of the year, according to the Energy Information Administration. Last month’s average is the lowest level since January 2003, when a nationwide strike and civil unrest largely brought the operations of Venezuela’s

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Venezuela bypasses U.S. sanctions by selling crude via Russia

Venezuelan President Nicolas Maduro is moving cash from Venezuelan oil sales through Russian state energy giant Rosneft, as he looks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of Venezuela’s growing dependence on Russia, as the U.S. tightens sanctions on Maduro,

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Engie, Caisse to buy Petrobras pipe unit for $8.6B

Petroleo Brasileiro SA (Petrobras) agreed to sell its 90% stake in a Brazilian natural gas pipeline company to France’s Engie SA and Canadian pension fund Caisse de Depot et Placement du Quebec for $8.6 billion. Engie and Caisse won the bidding war for the unit, Transportadora Associada de Gas, known as Tag, beating out Australia’s Macquarie

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U.S. adds companies, ships to Venezuela sanctions list

The U.S. Friday added two companies which ship crude oil from Venezuela to Cuba, along with 34 ships, to a financial sanctions list aimed at increasing pressure on Venezuelan President Nicolas Maduro to step down and turn over power to his opposition. A Treasury Department statement announcing the designation identified one of the companies as Ballito Bay

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Venezuela oil output is said to have dropped by 50%

Power failures that kept Venezuela in darkness for much of March also briefly slashed the country’s crude production by 50%, people familiar with the situation told Bloomberg. Rolling blackouts across much of the country that started on March 7 temporarily paralyzed most of the country’s oil industry, Kallanish Energy finds. Oil output averaged less than

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Activity stops at Venezuela’s main oil port after blackout

Venezuela’s main oil port of Jose, operated by state-run oil giant Pdvsa, was virtually shut down following a massive power blackout Monday, two oil industry workers and a union leader close to the facility told Reuters. The most recent oil shipment for export, on very large crude carrier Dragon, chartered by Russia’s Rosneft, left the

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