LATAMNRG PROSPECTOR VOL 7 2019 Argentina and Bolivia Revise PSA Addendum Petrobras Updates On Unification Of Parque Das Baleias Fields
Mexico Reports Increase In 3P Gas Reserves
Ecopetrol Raised To “Hold” By Zacks Investment Research
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ARGENTINA
Bolivia Seeking To Reduce Diesel Imports By Up To 5%
Indian PM To Secure Key Deals During Argentine President Visit From Sunday
(Energy Analytics Institute, Ian Silverman, 13.Feb.2019) — Bolivia’s Hydrocarbon Minister Luis Alberto Sanchez announced that the country aims to produce around 101 million liters of biodiesel in a pilot plan with an ultimate aim to reduce diesel imports by up to 5%, reported online media La Razón.
(Economic Times, Dipanjan Roy Chaudhury 14.Feb.2019) — India hopes to benefit from Argentine agriculture sector, a strong pillar of local economy, besides tapping natural gas deposits. With an eye on Lok Sabha elections, Prime Minister Narendra Modi plans to conclude agriculture and energy deals with Argentina when he hosts President Mauricio Macri on a state visit between February 17 and 19.
BOLIVIA Bolivia And Argentina Ink Addendum To Gas PSA (Energy Analytics Institute, Aaron Simonsky, 14.Feb.2019) — Executives from Bolivia and Argentina signed an addendum to a natural gas purchase and sales agreement in Santa Cruz that improves the price for Bolivia, and makes marketing of volumes more flexible so that less gas is exported in summer months and more in winter ones, reported online media La Razón.
Irregular Gas Demand In Brazil And Argentina Affect’s Bolivia (Energy Analytics Institute, Ian Silverman and Aaron Simonsky, 14.Feb.2019) — Irregular demand in Argentina and Brazil for Bolivia’s natural gas has had a negative impact on GDP in the small land-locked country, reported writer Yuri Flores with online media La Razón. Bolivia’s GDP was 4.04% in the third quarter of 2018 (3Q:18) compared to 4.44% in the second quarter of 2018 (2Q:18).
YPFB To Commence Exploration Activities In Oruro (Energy Analytics Institute, Ian Silverman, 10.Feb.2019) — Bolivia’s state oil and gas entity Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) plans to initiate exploration projects in the department of Oruro, which include studies in more than twenty municipalities “YPFB is initiating exploration projects in non-traditional areas with the perspective of increasing and replenishing hydrocarbon reserves,” announced YPFB CEO Óscar Barriga Arteaga in an official company statement.
Bolivia Analyzes Soya For Biodiesel Production (Energy Analytics Institute, Ian Silverman, 11.Feb.2019) — Bolivia’s Minister Carlos Romero announced that Bolivia’s state oil and gas entity Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) needs to increase soybean production by approximately 250,000 hectares in order to reach production of 100 million liters of biodiesel from sorghum, reported online media La Razón.
Bolivia’s Former Hydrocarbon Minister Muller Passes Away (Energy Analytics Institute, Ian Silverman, 14.Feb.2019) — Bolivia’s former Energy and Hydrocarbons Minister Herbert Muller, who was a point man for the key gas contract between Bolivia and Brazil, passed away, reported online media La Razón.
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BRAZIL
COLOMBIA
Petrobras Updates On Unification Of Parque Das Baleias Fields
Colombian Experts Reveal Report On Fracking
(Petrobras, 14.Feb.2019) — Petrobras informs that, on this date, the Public Hearing related to the draft of the agreement to be signed with the National Petroleum, Natural Gas and Biofuels Agency (ANP) in relation to the unification of the Parque das Baleias fields was completed. In 2014, ANP determined the unification of the Jubarte, Cachalote, Caxaréu, Baleia Franca, Baleia Anã, Baleia Azul and Pirambú Fields, which resulted in an increase in the collection of special participations (PE) charged on the fields of the so-called Parque das Baleias.
Shell To Tap Brazil Pre-Salt Gas For Power Project (Argus, 13.Feb.2019) — Shell is making its first foray into Brazilian power generation with a ground-breaking project that will use natural gas from the country´s extensive offshore pre-salt deposits. The European major will partner with Japan’s Mitsubishi Hitachi Power Systems (MHPS) and local private equity fund manager Patria to develop the 565MW Marlim Azul power plant that will be supplied by Shell’s Brazilian subsidiary.
Petrobras Sets 2018 Annual Results Release Dates (Petrobras, 12.Feb.2019) — Petrobras reports that its Integrated Report and the 2018 Annual Results will be released on Wednesday, February 27, after market closing.
(Energy Analytics Institute, Piero Stewart, 14.Feb.2019) — A committee of experts created by Colombia’s Ministry of Environment and Mines, and Energy (MME by its Spanish acronym) published a summary technical report with evaluations regarding the viability or not of using hydraulic fracturing or hydraulic stimulation in Colombia to increase the extraction of oil and gas in the Andean country, reported online media El Tiempo.
Ecopetrol Announces Attack Along Mansoyá Orito Pipeline (Energy Analytics Institute, Piero Stewart, 12.Feb.2019) — Colombia’s Ecopetrol activated a contingency plan at the Mansoyá Orito Pipeline (OMO by its Spanish acronym) after registering an attack along the Buenos Aires section of the pipeline located in the municipality of Orito (Putumayo), reported online media Portafolio.
Colombian Congress Discusses Energy, Gas Subsidies (Energy Analytics Institute, Piero Stewart, 11.Feb.2019) — Colombia commenced discussions in congress related to the National Development Plan (PND), which included an article that would eliminate energy and gas subsidies to people in Stratum 3, while reducing the subsidies to persons in Stratums 1 and 2, reported online media Portafolio.
ENERGY ANALYTICS INSTITUTE | LATAMNRG PROSPECTOR | HOUSTON • CARACAS
Ecopetrol Raised To “Hold” By Zacks Investment Research (Daily Political, 15.Feb.2019) — According to Zacks, “In Colombia, Ecopetrol is the largest energy firm with an integrated business model. The company’s businesses are well diversified. It has helped Ecopetrol post EBITDA margin of 48% in first nine months of 2018, the strongest since 2014.
country’s Federal Electricity Commission (CFE by its Spanish acronym).
2U, Inc. Announces Partnership with EGADE In Monterrey
JAMAICA Total Poised To Become Largest Network W/Epping Acquisition (Jamaica Gleaner, Avia Collinder, 15.Feb.2019) — Total Jamaica Limited appears poised to take the top spot in the local petrol market, at least in terms of the number of stations that it operates, with the announced agreement to acquire rival Epping.
MEXICO Mexico Reports Increase In 3P Gas Reserves (Energy Analytics Institute, Jared Yamin, 12.Feb.2019) — Mexico’s combined proved, probable and possible natural gas reserves rose 3.7% to 30 trillion cubic feet at year-end 2018 compared to 29 trillion cubic feet at year-end 2017, according to data released February 12 by the country’s National Hydrocarbon Commission (CNH).
CFE Plans To Modernize 60 Thermoelectric Plants (Energy Analytics Institute, Jared Yamin, 11.Feb.2019) — Mexico plans to modernize 60 thermoelectric plants that exist in the country, reported online media El Financiero, citing comments from Manuel Bartlett, head of the
(Energy Analytics Institute, Jared Yamin, 11.Feb.2019) — 2U, Inc. announced a new partnership with Latin American business education leader, EGADE Business School at Tecnológico de Monterrey, Mexico, to deliver an online MBA for global business professionals. EGADE MBA Online is 2U's first full degree program in Latin America and expected to launch in Fall 2019, the company announced in an official statement.
Canadian Solar’s Project In Mexico Starts Commercial Operations (Canadian Solar, 14.Feb.2019) — Canadian Solar Inc. announced that its first solar power project of 68 MWp in Mexico started commercial operations in January 2019. The solar plant, located in Aguascalientes, Mexico, is powered by over 200,000 Canadian Solar high-efficiency poly modules CS6U-P. The plant will generate 145 gigawatt hours (GWh) of electricity annually, enough to power 20,690 households and offset 72,700 tons of carbon dioxide emission each year.
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TRINIDAD
VENEZUELA
Methanol, Good Mix For Fuel
U.S. Judge Rules Former Venezuelan Oil Minister Ramirez Owes $1.4Bn
(Trinidad and Tobago Newsday, Carla Bridglal, 14.Feb.2019) — As of November 30, 2018, Trinidad and Tobago ceased being a producer of fuel. Now the country will have to import fuel on the open market, leaving it vulnerable to the volatility of commodity prices. The methanol lobby, however, believes it has a solution to help lower the fuel import bill and save the country up to half a billion dollars annually. All it takes is a small substitution.
(Reuters, 14.Feb.2019) — A federal judge in Houston ordered a former Venezuelan oil minister this week to pay the owners of a defunct Houston oil company $1.4 billion in damages in a fraud suit, although it is unclear if or how the payment will ever be made.
De Novo Sparks Hope For Proman In TT
Trafigura Halts Oil Trade With Venezuela – Source
(Trinidad and Tobago Newsday, 14.Feb.2019) — The Proman Group has had an indelible mark on the petrochemicals industry in TT. The Swiss-based conglomerate might not be a household name, but its plants make up 60 per cent of the tenants at the Point Lisas Industrial Estate, including Methanol Holdings (Trinidad) Holdings, one of the biggest methanol producers in the world, and Caribbean Nitrogen Company (CNC) and its sister, Nitrogen 2000, which have a collective output of over one million tonnes of ammonia per year.
(Reuters, Julia Payne, 15.Feb.2019) — Global commodities firm Trafigura has decided to stop trading oil with Venezuela due to U.S. sanctions on the OPEC nation’s energy sector, a source with direct knowledge of the matter said.
Gopee-Scoon: Trinidad Getting Better Fuel From Paria
(FT.com, John Paul Rathbone and Gideon Long, 13.Feb.2019) — Venezuela’s parallel, opposition government sought to take control of the country’s oil revenues from the regime of Nicolás Maduro by naming an interim board of directors to state oil company PDVSA and its most valuable foreign asset, the US-based refiner Citgo.
(Trinidad and Tobago Newsday, Richardson Dhalai, 15.Feb.2019) — Trade Minister Paula Gopee-Scoon says the country is getting higher quality fuel from Paria Fuel Trading Co Ltd (Paria Fuel) than it was receiving from Petrotrin before its closure.
Venezuela Opposition Names Interim Board To Oversee Oil Group PDVSA
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