(LNG Energy Group, 24.Apr.2024) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) announced that its wholly-owned subsidiary, LNGEG Growth I Corp. (LNG Venezuela), entered into a binding agreement with PDVSA Petroleo S.A. (PPSA), a subsidiary of Petroleos de Venezuela S.A. (PDVSA), the Venezuelan national oil company, for the operation of […] The post LNG Energy Inks Productive Participation Contracts in Venezuela first appeared on Energy Analytics Institute (EAI ..read more

(AP, 24.Apr.2024) — A company started by a Texas billionaire oilman announced a deal Wednesday with Venezuela’s state-owned oil company to rehabilitate five aging oil fields, days after the Biden administration put a brake on sanctions relief over concerns about the fairness of the country’s upcoming presidential election. LNG Energy Group is a publicly traded company […] The post Billionaire Texas Oilman Inks Deal with PDVSA as US Sanctions Loom first appeared on Energy Analytics Institute (EAI ..read more

(BTU Analytics, 23.Apr.2024) — Historically, more than half of Mexico’s heavy sour crude oil exports, mostly Maya blend, end up in the U.S., which is key for refining along the Gulf Coast, also known as PADD 3. However, recent reports suggest Mexico’s national oil company, Petróleos Mexicanos (Pemex), could cut more than 400 Mb/d of […] The post Potential Sour Crude Deficit Looming in the Gulf first appeared on Energy Analytics Institute (EAI ..read more

(Energy Analytics Institute, 22.Apr.2024) — Energy briefs as well as others related to finance and projects during Apr. 2024 including ExxonMobil, Hess and CNOOC announcing a $12.7bn FID for their sixth project offshore Guyana dubbed Whiptail; YPF SA launching the “Andes” project to divest 55 mature conventional fields and focus its investments in Vaca Muerta; […] The post EAI’s NRGBriefs: April 2024 first appeared on Energy Analytics Institute (EAI ..read more

(Argus, 17.Apr.2024)  — Bidders for Citgo‘s US refining assets have until 11 June to submit offers for the company’s 805,000 b/d of refining capacity and associated assets, with a tentative sale hearing set for 15 July. Documents filed Tuesday in the US District Court for the District of Delaware set 11 June as the deadline […] The post June Deadline set for Citgo Auction Bids first appeared on Energy Analytics Institute (EAI ..read more

(Energy Analytics Institute, 17.Apr.2024) — The U.S. Office of Foreign Assets Control (OFAC) issued General License 44A, which supersedes and replaces General License 44, and authorizes the wind down of transactions related to oil or gas sector operations in Venezuela. ____________________ By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved. The post OFAC Issues GL44A to Replace GL44 in Venezuela first appeared on Energy Analytics Institute (EAI ..read more

(S&P Global, 17.Apr.2024) — A few hours before the expiration of a temporary oil and gas sanctions relief license, the governments of Venezuela and the United States continue to negotiate without success its renewal under the requirement of holding competitive presidential elections on July 28, Venezuelan officials said. “Today at noon there was a videoconference, […] The post Negotiations Fail to Renew Venezuela Sanctions Relief License first appeared on Energy Analytics Institute (EAI ..read more

(Argus, 17.Apr.2024) —  The US administration today reimposed sanctions targeting Venezuela’s oil exports and energy sector investments and set a deadline of 31 May for most foreign companies to wind down business with state-owned PdV. The US decision rescinds a sanctions waiver issued last October, which allowed Venezuela to sell oil freely to any buyer […] The post US Reimposes Venezuela Oil Sanctions first appeared on Energy Analytics Institute (EAI ..read more

(Reuters, 17.Apr.2024) — The expiration of the widest U.S. license so far granted to Venezuela’s oil and gas industry will put a ceiling on the South American country’s slow crude production growth unless Washington grants enough individual authorizations to compensate, according to analysts and experts. Washington officials said on Wednesday the license would not be renewed. A […] The post Expiration of US Oil License to Venezuela to Impose a Ceiling on Output Growth first appeared on Energy Analytics Institute (EAI ..read more

(Energy Analytics Institute, 17.Apr.2024) — Energy briefs as well as others related to finance and projects during Apr. 2024 including ExxonMobil, Hess and CNOOC announcing a $12.7bn FID for their sixth project offshore Guyana dubbed Whiptail; Equinor and EQT Corporation swapping Equinor’s operated position in the Marcellus and Utica shale formations in Ohio for a […] The post EAI’s NRGBriefs: Apr. 2024 first appeared on Energy Analytics Institute (EAI ..read more