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TOP NEWS 2021

Conservative Lasso ex-banker wins elections in Ecuador

AFP/Rodrigo Buendia

65-year-old Guillermo Lasso is the new president of Ecuador. Leftist candidate Andrés Arauz conceded defeat.

- Guillermo Lasso, 65, will be sworn in as President in May
- Win by pro-market Lasso reassures bondholders amid IMF plan

By Stephan Kueffner/Bloomberg

Quito
Petroleumworld 04 12 2021

ConocoPhillips vs Venezuela: Interim receiver appointed for PetroCaribe funds

Jamaica Gleanner

Jamaica pulled into ConocoPhillips, Venezuela battle

By Huntley Medley/Jamaica Gleaner

Kingston
Petroleumworld 04 12 2021

Petrobras fuel pricing policy could change -Bolsonaro

Marcos Corrêa / PR

Brazil's Bolsonaro warns of potential changes to Petrobras' fuel-price policy

- Import-price parity could be revised
- Shareholders to vote on new CEO April 12

By Jeff Fick/Platts

RIO
Petroleumworld 04 09 2021

PDVSA switch crude oil for exports prioritizing gasoline and diesel production

offshore-technology.com

Venezuelan crude flow recedes on diluent gap

By Argus

CARACAS
Petroleumworld 04 09 2021

Ex-Gunvor trader affirm his superiors approve of Petroecuador's bribes

Bloomberg

- Kohut pleaded guilty to aiding bribes for Ecuador oil deals
- Unsealed documents reveal secretly recorded conversations

By Patricia Hurtado and Andy Hoffman/Bloomberg

NEW YORK /GENEVA
Petroleumworld 04 08 2021

Quick Take: Why Ecuador's runoff Sunday's election is important

AFP

Guillermo Lasso y Andrés Arauz

- Lasso says he'll strengthen investor confidence
- Andres Arauz has pledged to continue open-pit mining

By Stephan Kueffner/Bloomberg

QUITO
Petroleumworld 04 08 2021

Mexico minister Nahle charges fuel retailers of nicking subsidies

cuartoscuro

“We are going to review their permits and act accordingly,” Energy minister said.

- Energy Minister Rocio Nahle says she will review fuel permits
- A new fuel bill in congress seeks to give Pemex more control

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 04 07 2021

Ex-Gunvor trader pleads guilty to running bribery scheme with Petroecuador officials

Simon Jacques

U.S. prosecutors in Brooklyn, New York, outlined a years-long scheme involving Kohut and “others,”
along with the energy company Kohut worked for. T

- Kohut admits to plot to pay more than $22 million in bribes
- A new fuel bill in congress seeks to give Pemex more control

By Patricia Hurtado and Andy Hoffman/Bloomberg

NEW YORK /GENEVA
Petroleumworld 04 07 2021

Brazil's watchdog TCU looking at Petrobras refinery sale over price

Petrobras

Petrobras refinery sale under price scrutiny by The TCU, an administrative court that oversees federal spending

By Nathan Walters/Argus

RIO
Petroleumworld 04 06 2021

Sempra selling infrastructure including Mexican renewables for $3.37 billion

brecorder.com

KKR to buy stake in Sempra U.S. infrastructure for $3.37 billion

- Sempra will use proceeds to fund growth of its U.S. utilities
- Move comes as Sempra pushes to simplify corporate structure

By Simon Casey and Josh Saul/Bloomberg

NEW YORK
Petroleumworld 04 06 2021

Petrobras sets monthly ULSD sales record in March
axi-international.com

ULSD sales reach 416,000 b/d

- Tops record set in October
- Refinery utilization at 80%

By Jeff Fick/Platts

RIO
Petroleumworld 04 05 2021

Argentina to incentive gas output, LNG imports to raise

excelerateenergy.com

A second FSRU may be brought in to meet peak demand

- Producers are reviving gas drilling, minister says
- Pricing incentives have improved profit margins

By Charles Newbery/Platts

BUENOS AIRES
Petroleumworld 04 05 2021

Listen: Boosting oil production, environmental commitments pose dual challenges for Pemex

Mexico is deteriorating its climate for energy investors - U.S. voices

Edgard Garrido/Reuters

Mexico's President Andres Manuel Lopez Obrador gestures as he speaks during a news conference at
the National Palace, in Mexico City, Mexico.

By Reuters

MEXICO CITY
Petroleumworld 04 02 2021

PDVSA to increase fuel production in April - company manager

PPSA

PdV (PDVSA) plan to restarting 190,000 b/d Puerto La Cruz by 3 April and 146,000 b/d El Palito by
the third week of April

By Argus

CARACAS
Petroleumworld 04 01 2021

Brazil's PPSA to auction designate pre-salt oil marketer in April

PPSA

Brazil to designate pre-salt oil marketer in April

By Nathan Walters/Argus

RIO
Petroleumworld 04 01 2021

Buenos Aires plays default hardball

Sarah Pabst/Bloomberg

Axel Kicillof Argentina's bondholders' old foe now governor of Buenos Aires.

- Largest Argentine province, run by Kicillof, sued by creditors
- Kicillof says bondholders are “unsupportive, intransigent”

By Jorgelina Do Rosario and Carolina Millan/Bloomberg

BUENOS AIRES
Petroleumworld 04 01 2021

Brazil's pandemic rages while military chiefs exit in new turmoil for Bolsonaro

France 24

Brazil on surpassed 300,000 coronavirus deaths and more than three million cases of infection.

- Army, Navy and Air Force chiefs resign
- Covid-related deaths soar past 300,000

By Nathan Walters and Patricia Garip/Argus

RIO/BOGOTA
Petroleumworld 03 31 2021

Ex-Braskem CEO to plead guilty in Odebrecht bribery and fraud scandal

Epitacio Pessoa / Bloomberg

Ex-Braskem CEO to Plead Guilty in $250 Million Bribery Case

- Jose Carlos Grubisich accused of bribing Brazilian officials
- Case is related to massive fraud prosecution of Odebrecht

By Patricia Hurtado/Bloomberg

NEW YORK
Petroleumworld 03 31 2021

Mexico's AMLO says moving to restore order to nation fuel import markets

FT montage / Bloomberg

Mexican President Andres Manuel Lopez Obrador's (AMLO) bill resembles previously blocked proposals.

- Amendments would require companies to secure storage to obtain import permits
- Permits could be cancelled by regulator under national security concerns

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 03 30 2021.

Venezuela's Maduro 'oil-for-vaccines' plan seeks to sideline opponents

MarsBars/GettyImages

Venezuelan President Maduro offers ‘oil for vaccines' as country sees spike in Covid-19 cases -RT

- Maduro aims to sideline the country's opposition
- Venezuela's opposition is ready to pay for vaccines through the WHO's COVAX program

By Luc Cohen/Reuters

NEW YORK
Petroleumworld 03 30 2021

Mexican President plays the nationalism card with the new energy reform law

dataurgente.com

For Andres Manuel Lopez Obrador, the new energy law is the center of his strategy to keep control of
congress in midterm elections just two months away.

- Bill would be biggest blow yet to landmark energy reforms
- Courts foiled past attempts to regain state energy dominance

By Max De Haldevang, Amy Stillman, and Justin Villamil/Bloomberg

MEXICO CITY
Petroleumworld 03 29 2021

ISA CEO satisfied with Ecopetrol's assuring of no meddling if buys the company

Interconexion Electrica SA

Bernardo Vargas

- ISA plans to sell $400 million in bonds overseas before summer
- Colombia-based company expects to sell Telecom unit this year

By Andrea Jaramillo and Oscar Medina/Bloomberg

MEXICO CITY
Petroleumworld 03 29 2021

AMLO exploit Texas freeze to push Mexico's nationalist energy agenda

Luis Torres/EPA-EFE

Residents wait to fill containers with purified water after a power failure in the state of Chihuahua, Mexico,
last month.

- Outages south of the U.S. border perfect for the president's to put the electricity
sector back in the hands of the state.
- Renewable energy developers I've invested almost $30 billion over the past decade.

By Amy Stillman and Sergio Chapa /Bloomberg

MEXICO CITY
Petroleumworld 03 26 2021

Emerging markets either keep fuel subsidies or combat climate change

Andre Coelho/Bloomberg

Workers fuel vehicles at a Petrobras station in Rio de Janeiro.

- Addicted to cheap fuel, emerging markets face a climate dilemma
- Rising oil prices are testing the developing world's resolve to quit fossil fuels.

By Peter Millard/Bloomberg

RIO
Petroleumworld 03 26 2021

Pemex and Talos negotiations over Zama oil field could take some time

Talos Energy

Pemex Talks With Talos Over Zama Oil Field May Miss Deadline

- Talks over unification with Pemex field may last for weeks
- Talos consortium and Pemex discuss merger of nearby oil fields

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 03 25 2021

Guyana Liza Phase 1 achieved nameplate output capacity of 120,000 b/d -Hess

thehabarinetwork.com

Stabroek Block offshore Guyana

- Sees 4th, 5th Guyana FPSOs online in 2025-26
- Oil price breakevens for first 3 phases around $25-$35/b

By Starr Spencer/Platts

HOUSTON
Petroleumworld 03 242021

Mexico's energy sector on hold as energy counter-reform moves on

MEXICO OIL OUTPUT GROWTH PROSPECTS

S&PGlobal Platts Analytics

- AMLO has consistently worked to undo a reform passed by his predecessor
- Companies are trying to do the minimum amount of activities allowed in their contracts

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 03 242021

Judge Moro biased in Lula ruling -Brazil's top court

Wilson Dias/Agência Brasil

Luiz Inacio Lula da Silva (L) and Sergio Moro

- Ruling could upend other Carwash sentences by Sergio Moro
- In last-minute vote reversal, Supreme Court says Moro biased

By Simone Preissler Iglesias and Andrew Rosatir/Bloomberg

BRASILIA/RIO
Petroleumworld 03 24 2021

Jaguar E&P ready to help Mexico to be more independent from Texan gas

Jagua EP

Gas Upstart Jaguar Wants to Help Mexico Depend Less on Texas

- Driller tapping blocks in Burgos and Tampico-Misantla basins.
- Jaguar expects output of 15 million cubic feet of gas mid-year

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 03 23 2021

Heir of family tycoon pursuing bargain deals in Venezuela

Latin American Herald Tribune

Cisneros Group

- Scion of billionaire family hunts for cheap assets in Venezuela.
- Eduardo Cisneros has raised over $200 million to invest
- As Maduro opens up the economy, high-risk opportunities emerge

By Patricia Laya and Nicolle Yapur/Bloomberg

CARACAS
Petroleumworld 03 23 2021

Oil executives weigh a return to Venezuela

voce.com.ve

Drawn by promises of privatization and more autonomy to tap the world's biggest crude

- In Caracas, petro executives are lining up meetings with the Nicolas Maduro regime
- Major oil companies would probably wait for sanctions to be lifted regardless

By Fabiola Zerpa and Ben Bartenstein/Bloomberg

CARACAS/NEW YORK
Petroleumworld 03 22 2021

Mexican court ruled a definitive suspension on electricity law

Ueslei Marcelino/Reuters

President Andres Manuel Lopez Obrador says top court should rule

By Adriana Barrera/Reuters

MEXICO CITY
Petroleumworld 03 22 2021

México ayudará a Pemex amortizando US$6,400M en deuda este año

Jesus R. Cuevas/eleconomista.com.mx

El presidente López Obrador(AMLO) afirmó que continuará la reducción de la carga impositiva de la petrolera estatal.

Por Andrea Navarro/Bloomberg

CIUDAD DE MÉXICO
Petroleumworld 19 03 2021

Empresas privadas venezolanas buscan importar diésel desde Colombia por escasez

Reuters

Camiones se alinean a lo largo de una avenida para llenar sus tanques en una gasolinera como parte
de la creciente escasez de diesel en Caracas, Venezuela, el 5 de marzo

Por EFE

CARACAS
Petroleumworld 19 03 2021

'Citgo Six' were jailed for a deal known to Venezuelan ministers

Jonathan Bachman/Reuters

The logo of PDVSA's U.S. unit Citgo Petroleum is seen at a gas station in Stowell, Texas, U.S., June 12, 2018.

- Venezuelan ministers were informed of deal 'Citgo Six' were jailed for, documents show
- Maduro using the jailed executives as bargaining chips to get concessions from the U.S.

By Luc Cohen/Reuters

NEW YORK
Petroleumworld 03 18 2021

YPF increases diesel, gasoline prices to invest in crude output

Getty

Listen: Mexico aims to make a revitalized Pemex an engine for economic development

- First of three hikes to total 15% this year
- Revenue to help fund $2.7 billion investment program

By Charles Newbery /Platts

BUENOS AIRES
Petroleumworld 03 18 2021

Canada 'concerned' with AMLO new electricity law will harm investments

Stock

President Lopez Obrador to strengthen state power company Comision Federal de Electricidad, or CFE

- $4.1 billion in Canadian assets could be stranded: official
- Move puts Mexico at odds with U.S., Canada on climate change

By Kait Bolongaro/Bloomberg

OTTAWA
Petroleumworld 03 17 2021

Colombia on less addiction to oil boost copper riches and cleaner energy

Stock

American Drillers Line Up to Unlock Colombian Copper Riches

- Government is offering exploration blocks in bidding process
- Nation also plans renewable energy auction in second half

By Oscar Medina/Bloomberg

BOGOTA
Petroleumworld 03 17 2021

Mexico's new oil discovery taken cautiously amid hurdles

CNH

PODCAST: Mexico aims to make a revitalized Pemex an engine for economic development

- Pemex expected to announce discovery on March 18
- Premature to speak about success, observers say
- Potential resources comparable to those found at Quesqui, Ixachi.

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 03 16 2021

Peru election favorite Yonhy Lescano vows to spread mining riches, import natgas

exitosanoticias.pe

Lescano, Presidential front-runner and leader of the Popular Action party said he hopes to lower the cost
of natural gas and support the construction of a gas pipeline between Bolivia and Peru.

By Marco Aquino/Reuters

LIMA
Petroleumworld 03 16 2021

Pemex new discovery of possible billion-barrel field

Alejandro Cegarra/ Bloomberg

Pemex CEO Octavio Romero touts discovery of possible billion-barrel field

- New field may contain about 1 billion to 2 billion barrels
- Pemex chief Octavio Romero speaks in interview on Sunday night

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 03 15 2021

Govt intervention seen distorting power markets, delaying investments in Latam

Chris Hunkeler/Flickr

Political intervention, institutional weakness undermine LatAm regulators: panel

- Ideological charge unavoidable, but technical expertise needed
- Regulatory stability key for investments

By Sheky Espejo/Platts

HOUSTON
Petroleumworld 03 15 2021

AMLO's new Electricity Law suspended by Mexican federal court

energyforward

The two-day-old electricity law suspended in Mexico court

- Federal court said the suspension should apply nationwide
- Decisions are setback for Lopez Obrador's push to protect CFE

By Justin Villamil/Bloomberg

MEXICO CITY
Petroleumworld 03 12 2021

Venezuela's Gas Stations under Capitalism Maduro-style

Bloomberg

A person looks at a new fuel pump at a VIA Petroleos de Venezuela SA (PDVSA) gas station in Caracas, Venezuela

- Venezuela's new stations offer fuel, liquor to those who can pay
- A plan to dodge U.S. sanctions via fuel distribution to local entrepreneurs

By Fabiola Zerpa/Bloomberg

CARACAS
Petroleumworld 03 12 2021

Argentina to frack in Vaca Muerta or to commit on climate goals

Patricia Monteiro/Bloomberg

A gas drilling rig in the Vaca Muerta formation.

- Natural gas fracking could be its ticket out of a years-long economic crisis,
but it jeopardizes a promise to wipe out emissions by 2050.

By Jonathan Gilbert and Laura Millan Lombrana/Bloomberg

BUENOS AIRES
Petroleumworld 03 11 2021

Total and Apache JV to keep drilling in Suriname after test well instability

Total

Total-Apache FID in Suriname expected in late 2021

- Drilling of Keskesi East-1 well halted after excess pressure hikes
- Next well in the exploration queue is Bonboni

By Jordan Blum/Platts

HOUSTON
Petroleumworld 03 10 2021

Petrobras' Carwash graft convictions may get thrown out

Patricia Monteiro/Bloomberg

Brazil's top court may upend Carwash graft convictions after Supreme Court Justice Edson Fachin
annulled former judge Sergio Moro's 2017 convictions of the former president Lula da Silva.

- Court ruling on whether star ex-judge Moro acted impartially
- Panel of 5 justices was tied 2x2 before session suspended

By Simone Preissler Iglesias and Samy Adghirni/Bloomberg

RIO/BRASILIA
Petroleumworld 03 10 2021

PetroEcuador to increase drilling at its ITT's Amazon oil fields to boost output

Georg Ismar/Alamy

A flame flares at the oil production facility on the border of the Yasuní national park in Ecuador.

- PetroEcuador to drill 72 wells at Ishpingo
- State oil company to drill 8 wells at Tambococha
- Ishpingo wells to produce up to 3,000 b/d.

By Alex Emery/Platts

LIMA
Petroleumworld 03 10 2021

Petrobras hike domestic diesel, gasoline prices effective March 9

Getty

Petrobras commits to parity with imports

- Increase keeps pace with rising oil prices
- Import prices currently higher than wholesale

By Jeff Flick /Platts

RIO
Petroleumworld 03 09 2021

Mexico's "Sembrando Vida" tree-planting program ended up in deforestation

Source: World Resources Institute estimates

By Max De Haldevang/Bloomberg

MEXICO CITY
Petroleumworld 03 09 2021

Valero to reroute Mexico imports, double capacity ofstorage network

Source: Valero

Valerio could shift from rail to ships as main import route

- Company to reach 6 million barrels of storage in 2022
- Demand picking up slowly

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 03 08 2021

U.S. Virgin Islands refinery to test Biden's promises on poverty and pollution

Alvin Baez/Reuters

Installations of the Limetree Bay petroleum refinery are seen in St Croix, U.S. Virgin Islands June 28, 2017
when they were owned by Hovensa.

By Laura Sanicola/Reuters

NEW YORK
Petroleumworld 03 08 2021

Mexico and Brazil fuel demand fizzles out amid renewed virus restrictions

SETBACK
Virus surge chokes fuel use in top U.S. buyers Mexico and Brazil

- Both nations are big markets for U.S. diesel and gasoline
- Countries reimposed lockdown measures amid slow vaccination

By Lucia Kassai/Bloomberg

HOUSTON
Petroleumworld 03 05 2021

Industry and consumers prepare legal battle against Mexico new electricity law

Mexico Energy Outlook SENER's Forecast

Judicialization bad for the country in times of needed investments

- Presidential initiative approved by majority in Senate
- Companies and associations expected to object

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 03 05 2021

U.S. lawmakers want Blinken to appoint special envoy for Venezuela

Dept of State

Secretary of State Antony J. Blinken

- Representatives want Biden to make priority of ousting Maduro
- Special envoy post remains vacant as regime remains in power

By Nick Wadhams/Bloomberg

WASHINGTON
Petroleumworld 03 04 2021

CERAWeek: Brazil, Colombia counting on gas as energy transition strategy

CERAWeek-IHS Markit

Mexico to continue importing gas from US despite reserves

- Ecopetrol increasing gas participation to 35% of upstream portfolio by 2030
- Brazil concentrating on ultra-deepwater; laying ground for gas investments

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 03 03 2021

CERAWeek: Colombia accelerating reforms to attract clean energy investment -Duque

CERAWeek-IHS Markit

"This can be the largest expansion of an energy matrix base on non-conventional renewables," -Ivan Duque,
President of Colombia

- Colombia aiming to become main investment target in Latin America
- Country to increase renewables contribution to 14% of generation

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 03 03 2021

Bondholders pushing for payment of Venezuela defaulted 2025 notes

- Acceleration on $1.6 billion of notes foretells legal battle
- Some $60 billion of Venezuelan debt remains in default

By Nicolle Yapur and Maria Elena Vizcaino/Bloomberg

CARACAS/NEW YORK
Petroleumworld 03 03 2021

Venezuela oil exports plunge 13% after U.S. sanctions on key traders

- The U.S. blacklisted Elemento and Swissoil for helping Maduro
- Shipments fell 13% in February, most of it going to China

By Lucia Kassai/Bloomberg

HOUSTON
Petroleumworld 03 02 2021

Uruguay's Ancap moves toward the hydrogen clean-energy era

Elusive Profits
Ancap exits a lost decade marred by bad investments, pandemic.

- Uruguay seeks investors for first hydrogen pilot project
- Country may have hydrogen-export capability by end of decade

By Ken Parks/Bloomberg

MONTEVIDEO
Petroleumworld 03 02 2021

Pemex reports first back-to-back earnings in years on currency

Pemex

- Fourth-quarter production rose to 1.68 million barrels a day
- State company will get about $5 billion in federal aid

By Amy Stillman/Bloomberg

RIO
Petroleumworld 03 01 2021

Ecopetrol CEO defends $4 billion the electric utility deal that unnerved investors

F. Carter Smith/Bloomberg

Felipe Bayon Pardo, chief executive officer of Ecopetrol SA, speaks during the 2019 CERAWeek by IHS
Markit conference in Houston, Texas, U.S., on Tuesday, March 12, 2019.

- Colombian oil company seeking majority stake in power firm ISA
- “I'm convinced this is a good business,” Felipe Bayon says

By Ezra Fieser and Oscar Medina/Bloomberg

BOGOTA
Petroleumworld 03 01 2021

General Silva e Luna new Petrobras CEO will learn on the Job

AFP

Jair Bolsonaro y Joaquim Silva e Luna, en 2018.

- Silva e Luna, nominated by Bolsonaro, is ex-Defense Minister
- Investors dumped Petrobras assets on intervention concerns

By Peter Millard and Samy Adghirni/Bloomberg

RIO
Petroleumworld 02 26 2021

Ecopetrol to invest $600 million in U.S. Permian Basin

EIA

Ecopetrol and partner Oxy to drill 90 wells in 2021

- Also anticipates 2025 start to Brazil production
- Overall crude production slides 3.9% in 2020

By Chris Kraul/Platts

BOGOTA
Petroleumworld 02 26 2021

Petrobras' new CEO seeks investment, less volatility

ITAIPU

Joaquim Silva e Luna

- Joaquim Silva e Luna speaks in an interview after nomination
- Brazil needs less fuel price volatility, while avoiding losses

By Peter Millard and Samy Adghirni/Bloomberg

RIO
Petroleumworld 02 25 2021

Mexico's new energy rules could hurt competitiveness, move to benefit Pemex

Creative commons

Mexico might find it hard to meet Paris agreement obligations

- Lower House of Congress approved presidential initiative by majority
- Bill sent to Senate for vote; outcome expected in weeks

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 02 25 2021

Petrobras takes down the Real in Brazil's worst rout in months

- The real and Ibovespa index lead losses among major countries
- Oil giant down 21% as trading volume surges after CEO change

By Aline Oyamada/Bloomberg

SAO PAULO
Petroleumworld 02 24 2021

Enauta restarts production well at Santos basin offshore Atlanta Field

teekay.com

Petrojarl I FPSO.

- Shutdown to replace oil heaters
- Second well to be operational in Q1
- Well producing about 10,400 b/d

By Jeff Fick/Platts

RIO
Petroleumworld 02 24 2021

Pemex gets a tax break of $3.6 billion

- Fiscal stimulus of 14% will be applied to tax on hydrocarbons
- Pemex's debt of $110 billion is the highest of any oil company

By Amy Stillman and Eric Martin/Bloomberg

MEXICO CITY
Petroleumworld 02 23 2021

Petrobras new CEO cost in value $19 billion over two days

Petrobras Craters, Real Falls in Brazil's Worst Rout in Months

- Analysts downgrade stock after President named new CEO
- Interference risk might delay sale of the company's refineries

By Vinicius Andrade/Bloomberg

SAO PAULO
Petroleumworld 02 23 2021

Default risk mispricing in Pemex's bonds -traders

- Pemex’s output is at the lowest level in over four decades
- Finance minister says government’s support is unwavering

By Justin Villamil and Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 02 22 2021

Fuel prices move Bolsonaro to replace Petrobras CEO with a General

br.advfn.com

General Joaquim Silva e Luna, a former defense minister and CEO of the Itaipu hydroelectric dam.

- Brazil leader had been at odds with Petrobras over fuel prices
- Concerns about a general shift away from market policies grow

By Peter Millard, Marisa Castellani, and Patricia Xavier/Bloomberg

RIO/BRASILIA
Petroleumworld 02 22 2021

Mexico's officials push for Texas restoring energy exports

Ron Jenkins/Getty

Texas energy freeze stretches to sixth day, raises Mexico's ire

- Texas Governor ban interstate or cross-border shipments.
- Exports of natural gas via pipeline dropping off 75%

By Jeniffer Hiller/Reuters

HOUSTON
Petroleumworld 02 18 2021

Mexico to help Pemex in debt reduccion, tax, finances

Alejandro Cegarra/Bloomberg

Mexico to Announce ‘Significant' Aid for Pemex -Arturo Herrera, Finance Minister

- Government to reduce state oil giant's tax burden in 2021
- Government will work on Pemex debt situation in coming weeks

By Max De Haldevang/Bloomberg

MEXICO CITY
Petroleumworld 02 18 2021

Mexico could develop gas storage capacity to prevent Texas supply cut

Oilprice

Storage capacity shortage identified by previous administration

- Country considering policy to increase production
- No permanent impact on fuels market

By Sheky Espejo/Platts

MEXICO CITY
Petroleumworld 02 17 2021

PDVSA breaks up LPG black market scheme

pdvsa

The average poor Venezuelan family traditionally uses at least two canisters per month for cooking.

- The head of PDVSA Gas Comunal arrested
- More senior figures in PDVSA are involved

By Argus

CARACAS
Petroleumworld 02 17 2021

Texas power blackouts spill next door, Mexico blames U.S.

Bloomberg

U.S. Energy Crisis Deepens With Nearly 5 Million in the Dark. Mexico Blames U.S. as Energy Crisis Spills
Across the Border

- Mexico says 4.77 million homes and businesses lost power
- Blackouts are ‘why Mexico must seek autonomy’: state utility

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 02 16 2021

Guyana revise its crude oil expectations, cautious on 2021 oil price

villagevoicenews.com

Finance minister Ashni Singh.

- Guyana's oil income has reached $206.6mn
- Forecasts output of 750,000 b/d by 2026.

By Canute James /Argus

PORT SPAIN
Petroleumworld 02 16 2021

As nation starves bankrupted by Socialism,Venezuela cedes control of companies

More than 5 million Venezuelans have left in a desperate attempt to avoid ruin.

- Investors join with public food companies
- New managers expected to hand over part of production, profits

By Fabiola Zerpa and Nicolle Yapur/Bloomberg

CARACAS
Petroleumworld 02 15 2021

Ecuador to recount votes between Perez and Lasso for presidential runoff candidate

Johis Alarcon/Bloomberg

Officials gather ballots at a polling station during the first round of presidential elections in Quito, Ecuador, on Feb. 7.

- National Electoral Council brokers recount in 17 provinces
- Recount to decide who faces Andres Arauz in April 11 runoff

By Stephan Kueffner/Bloomberg

QUITO
Petroleumworld 02 15 2021

YPF out of default with 60% support for key bond swap

- Government to give access to dollars to pay rest of 2021 notes
- Results give YPF $630 million in debt relief through 2022

By Scott Squires and Jonathan Gilbert/Bloomberg

BUENOS AIRES
Petroleumworld 02 12 2021

CFE to cancel Mexico's independent power contracts

Luis Antonio Rojas/Bloomberg

Mexico's CFE Aims to Consolidate Power -Bloomberg

By Rebecca Conan /Argus

MEXICO CITY
Petroleumworld 02 12 2021

AMLO's new Mexico energy reform might increase prices and emissions

Source: BNEF

The growing share of renewables has helped cut wholesale electricity prices by 69% over that time frame.

- Wholesale power prices declined by 69% from 2018 to 2020
- Energy from Mexico's power auctions is cheaper than CFE Plants

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 02 11 2021

Biden soft move on sanctions could revive Caribbean crude oil tanker loadings

Reuters

Aframax Caribbean-USGC runs down 75% in 2020 from 2016

- Sanctions lifting would release 500,000 b/d of crude
- Guyana provides potential return of Caribbean Suezmax business

By Nicole Baquerizo, Catherine Wood, Barbara Troner /Platts

HOUSTON
Petroleumworld 02 11 2021

Pemex workers deaths up on new Covid-19 wave

Bloomberg

- Death toll rose at fastest rate since August last month
- A total of 472 employees and 13 contractors have died to date

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 02 09 2021

Ecuador 2nd place vote count still on, bonds plunge

- Second round of presidential election scheduled for April 11
- Indigenous candidate unexpectedly leads race for second place

By Stephan Kueffner, Ben Bartenstein, Sydney Maki/Bloomberg

QUITO/NEW YORK
Petroleumworld 02 09 2021

Ecuador on election runoff as indigenous candidate Yaku Perez take second place

AFP

Andres Arauz (center) leads in the first round of Ecuador's elections, while Yaku Perez (left) and
Guillermo Lasso are competing for second place.

- Second round of presidential election scheduled for April 11
- Socialist canditate led with 32.2% of votes

By Stephan Kueffner/Bloomberg

QUITO
Petroleumworld 02 08 2021

Colombian govt will negociate with Ecopetrol for power giant ISA

rumbominero.com

Colombia's ISA Group, the state-owned holding company that owns a high-voltage transmission network
of nearly 40,600 kilometers, deployed in Colombia, Peru, Bolivia and Brazil. 40,600 kilometers, deployed in
Colombia, Peru, Bolivia and Brazil.

- Finance Ministry and oil firm to enter exclusivity contract
- Ecopetrol made offer for government's 51.4% stake in ISA

By Ezra Feiser/Bloomberg

BOGOTA
Petroleumworld 02 08 2021

AMLO's electricity revamp in doubt, Mexico's supreme court ruling a setback

researchandmarkets.com

Mexico business group says CFE bill is ‘indirect expropriation'

- Supreme Court ruled against new electricity regulations
- Decision could impact president's bill to give CFE preference

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 02 05 2021

Ecuador's Sunday vote key for the financial markets

americasquarterly.org

Andres Arrauz -Democratic Center, Guillermo Lasso -Conservative, Yaku Pérez -Environmental activist

- Either accept aid from the international financial comunity
- Or return to socialism

By Stephan Kueffner and Sydney Maki/Bloomberg

QUITO
Petroleumworld 02 05 2021

Mexico's senate leader open to debate new energy bill with private companies

Bloomberg

Mexico's ruling party senate leader Ricardo Monreal said a new government bill that would favor the state utility over private investors requires dialogue with the companies to ease their heavy opposition and avoid ending in lawsuits. - Video

- Electricity bill can change with investor input, Monreal says
- Reforms on outsourcing, regulation on hold until midterms

By Max De Haldevang and Michael O'Boyle/Bloomberg

MEXICO CITY
Petroleumworld 02 04 2021

Fracking activity in Vaca Muerta hits 17-month high in January

opsur.org.ar

Argentina's Vaca Muerta activity was up 39% on month, nearly double on year.

- YPF was the most active fracker
- Vista Oil & Gas trailed, followed by Tecpetrol and Pluspetrol

By Charles Newbery/Platts

BUENOS AIRES
Petroleumworld 02 02 2021

YPF bondholders divided on debt offer as deadline near

- Clifford Chance group says it wants more cash up front in swap
- Another group approved of YPF's latest changes, supports offer

By Scott Squires and Jonathan Gilbert/Bloomberg

BUENOS AIRES
Petroleumworld 02 03 2021

Petrobras shows record oil exports

Andre Ribeiro/Petrobras

Petrobras had its best operating performance in 2020

By Nathan Walters /Argus

RIO
Petroleumworld 02 03 2021

PDVSA January crude production up by 100,000 b/d to 520,000 b/d

EIA

Venezuela's Orinoco Belt production rose to 290,000 b/d

- Output in Monagas state was 150,000 b/d, while Zulia-Trujillo registered 80,000 b/d
- Petropiar operating at 27% capacity , Petromonagas at 49% and Sinovensa at 48%

By Mery Mogollon/Platts

CARACAS
Petroleumworld 02 02 2021

Grupo de Energía de Bogota-GEB takes on Ecopetrol in battle for Isa

GEB

GEB líder en energía eléctrica y gas natural en Colombia, con presencia en Colombia, Perú, Brasil y Guatemala.

By Diana Delgado/Argus

BOGOTA
Petroleumworld 02 02 2021

Petrobras makes new subsalt discovery in Campos Basin subsalt C-M-411 block

Wiki

Urissane find made in C-M-411 block about 200 km offshore in waters that are 2,950 meters deep

- Block acquired at 14th bid round
- Petrobras holds 50% operating stake

By Jeff Fick/Platts

RIO
Petroleumworld 02 01 2021

Guyana warns of Venezuela intentions as Maduro regime seize fishing vessels

ONSA-Venezuela

Two Guyanese registered fishing vessels – the Lady Nayera and the Sea Wolf – operating off Waini Point,
were intercepted by Venezuelan naval vessel Commandante Hugo Chavez GC 24 on Thursday January 21,
2021. There are reports that Venezuela's navy has seized another fishing vessel.

By Canute James/Platts

PORT SPAIN
Petroleumworld 02 01 2021

Colombia and Brazil oil exports rose despite pandemic

eppetroecuador.ec

In 2020 Ecopetrol also found new homes for its crudes, including renewed exports to South Korea
and India and exported about 411,000 b/d globally.

By Monica Rojas/Argus

HOUSTON
Petroleumworld 01 26 2021

YPF to boost hydrocarbons investment by 73% in 2021 to rebuild output

Mercopress

Company is trying to reduce near-term debt payments

- Focus will be on returning to oil and gas production growth
- Available cash is key to investment

- Chevron, Reliance meet with U.S. officials to discuss Venezuela
- Topic of oil swaps that exchange crude for diesel is on agenda

- State-oil producer to issue debt, equity to fund acquisition
- Public tender offer process not necessary, Ecopetrol says

- Pemex's 2020 oil production reached 1.61 million daily barrels
- Company is under financial strain with $110.3 billion of debt

- New exchange proposal would now pay interest through 2022
- Offer includes pledge on some shares of YPF Energia Electrica

Jim Allen/FreightWaves

KCS's fourth quarter refined products shipments to Mexico grew by 87pc from a year earlier

Schneyder Mendoza/AFP

Venezuelan migrants cross the Tachira river, the natural border between Colombia and Venezuela,
as the official border remained closed in Cucuta, Colombia, on Nov. 19, 2020.

- Pandemic increases hostility to the diaspora of 5.4 million
- Attacks and insults greet venezuelans fleeing a ruined homeland

- Industry expect the US to take a firmer line on new policy
- Projects still on hold

- With chemical additives, Hamaca crude becomes “Singma Blend”
- Origins erased, rebranded cargo is sold to Chinese buyers

- Sanctions relief 'the big unknown' for oil producers
- Attar says extra Saudi Arabian cut may accommodate Iranian barrels

- "Some geopolitical changes are there," says India oil minister
- Crude importer also unhappy with sudden Saudi production cuts

- Shale driller stuns creditors, swap into new note
- But investors are balking at the terms energy firm proposed

- Sanctions on traders, tankers and extend to those working with Mexican network
- Ban on Citgo share seizures extended until July

- Money laundering of Venezuelan billions at around 30 Swiss banks
- Questionable funds from Venezuela flowed into several hundred accounts

- Peso-denominated notes will fund environmental projects
- Ministry will pursue debt buy backs, credit director says

- Brazil leads regional air travel recovery
- US exports to Brazil nearly halt in 2020

- Pacific island nation tells Venezuela ‘that oil tanker isn’t ours’
- Government of Palau sends diplomatic note to Venezuela

- "These organizations have only served as smoke screens for illicit activity .."
- Would save the government Ps20bn ($1bn)

- Venezuela's Maduro vowed to "reconquer" the disputed Essequibo province
- US reaffirmed its support for Guyana's stance

- Concession auction set for October 2021
- Public audience for auction set for Feb. 3

- The country failed to boost its target of cutting emissions 22% by 2030
- Two years of environmental backsliding

- Brazilian giant posts production of 2.3 million barrels a day
- Most comes from pre-salt fields being ramped up for years

- Government owns 51.4% of the electricity transmission company
- Administration looking for ways to narrow the fiscal deficit

- Shipments slumped by half in December to 231,613 barrels a day
- OPEC+ may raise output further on prospects of higher demand

World Rings in 2021
Valentyn Ogirenko/Reuters

A couple embrace during New Year's day celebrations in central Kyiv, Ukraine January 1, 2021.