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PdVSA surrenders 49% stake in Refidomsa under debt-for-equity swap deal
Venezuela’s national oil company PdVSA has surrendered its stake in an oil refinery in the Dominican Republic as compensation for defaulted bond payments.
Mexico takes steps to prevent Vitol, Trafigura from doing business with Pemex
Energy Minister Rocio Nahle announced last week that Mexico’s government had barred two major international commodity traders, Vitol and Trafigura, from doing business with the national oil company Pemex.
Petrobras sells REMAN to Atem
Petrobras revealed earlier this week that it had struck an agreement with Atem, a local fuel distributor, for the sale of Refinaria Isaac Sabba (REMAN), a 46,000 barrel per day refinery in Amazonas State.
US Gulf Coast sees oil supply disruptions from Mexican outage
The US Gulf Coast was facing disruptions to its crude supplies as a result of an outage in Mexico this week.
Imperial unveils renewable diesel plan for Strathcona refinery
Canada’s Imperial Oil unveiled a plan this week to produce renewable diesel at its 191,000 barrel per day Strathcona refinery in Alberta using vegetable oil as feedstock.
Beacon sanctions Shenandoah project in deepwater Gulf
Beacon Energy Offshore has made a final investment decision on the Shenandoah project in the deepwater US Gulf of Mexico.
Growth amid uncertainty for the oil sands
Oil sands production has reached an all-time record high and is set to grow further still, but the picture is far more uncertain in the longer term.
Oil tycoon Wood urges against end to oil exploration
bneGREEN: Russia drafts hydrogen development plan
Russia plans to emerge as an exporter of hydrogen within the space of a few years and supply as much as 12mn tonnes per year (tpy) of the fuel by 2035, under a draft development plan approved in August.
Egypt earmarks $2.74bn in public investments for the power sector in the current FY2020/2021
On Guyana’s future prospects
IEEFA, a US-based non-profit, says the Stabroek contract may unfairly curb Guyana’s earnings from oil sales. Its arguments may have the effect of drying up funding for future investors seeking to follow ExxonMobil’s example.
CGX, Frontera spud Kawa-1 at Corentyne
CGX Energy and Frontera Energy, both based in Canada, have spudded the Kawa-1 exploration well at the Corentyne block offshore Guyana.
ExxonMobil, partners agree on seven-month extension for second well at Kaieteur
ExxonMobil (US) and its partners in the Kaieteur block offshore Guyana have agreed to push the deadline for drilling their second exploration well back by seven months.
Brazil, Argentina begin negotiations on Vaca Muerta gas pipeline
Brazil and Argentina have begun negotiations on a multi-billion-dollar pipeline project that would facilitate exports of gas from fields in the Vaca Muerta shale formation, Brazilian President Jair Bolsonaro said last week.
Brazilian gas output hits new record high in July
Production of natural gas in Brazil reached a new high of 139mn cubic metres per day in July, slightly above the previous record high of 138.7 mcm per day reported in January 2021, according to newly released statistics.
Indonesia’s oil, gas output in July misses target again
Indonesia’s oil and gas production in July remained below the government’s 2021 production target of 1.71mn barrels of oil equivalent per day, Indonesian Energy Minister Arifin Tasrif said this week.
India’s crude production slides in July
India’s crude production continued to slide in July even as natural gas production rebounded on the back of new fields being brough onstream.
Guyana, Suriname expect drilling activity to remain high for next two years
Guyana and neighbouring Suriname are expecting exploration drilling to remain at a high level over the next two years.
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