New Gas Plus project to be announced - reports - Argentina
New Gas Plus project to be announced - reports - Argentina
Saturday, November 21, 2009
(BNamericas.com) - The Argentine government is set to announce a new Gas Plus program allowing companies to sell natural gas at above-regulated rates, according to local press reports.
The new program could attract as much as US$900mn in new investments, newspaper El Cronista reported.
So far, only US oil company Apache (NYSE: APA) has won rights to sell gas under existing Gas Plus conditions.
Apache has four approved Gas Plus projects including two each with Argentine wholesale power regulator Cammesa and oil firm Pampa Energía, a company official told BNamericas.
"We presented seven projects in total for Gas Plus approval, of which six were approved on technical grounds," the official said. "Four of them have commercial approval."
Apache will supply 10Mf3/d (285,000m3/d) of natural gas from the Guanaco and Ranquil-Co fields in Neuquén province to Cammesa for US$4.10/MBTU starting in 2010. The contract is for one year.
The federal energy department also approved Apache's project to supply 50Mf3/d from two fields in Neuquén and Río Negro provinces to Pampa Energía for US$5/MBTU beginning in 2011.
Regulated gas in Argentina typically sells for US$1/MBTU due to a tariff freeze put in place during the 2002 crisis.
The new Gas Plus program has yet to be finalized, Apache said.
"The new version of Gas Plus hasn't been published as far as we know," the Apache official said. "But it looks like it seeks to make conditions of the current Gas Plus program a little more flexible."
Argentina's planning ministry had no comment on the matter when contacted by BNamericas....
PDVSA drills two exploratory wells in 1H09, earnings down 67% - Venezuela
Saturday, November 21, 2009
(BNamericas.com) - Venezuela's state-owned PDVSA, the fourth largest oil company in the world, drilled two exploratory wells in the first six months of the year and is currently drilling another two, the company said in... more
Argenta begins production tests on OA x-1 well - Argentina
Saturday, November 21, 2009
(BNamericas.com) - Canadian oil junior Argenta Oil & Gas (TSXV: AZA) has started a long term production test on its OA x-1 well on the Covunco block in Argentina's Neuquén basin, the company said in a statement.
Ear... more
Eni set to sell Gas Brasiliano - Brazil
Saturday, November 21, 2009
(BNamericas.com) - Italian oil major Eni (NYSE: ENI) is planning to sell its Gas Brasiliano natural gas distribution company in Brazil, Agência Estado reported.
Gas Brasiliano operates in the northwest state of São ... more
Pemex awards consulting contract for refining works tenders - Mexico
Saturday, November 21, 2009
(BNamericas.com) - Mexico's state oil company Pemex has awarded the contract to supervise development of basic engineering and technical information for various refining works as a step toward future EPC tenders, accord... more
Export basket up to US$72.75/b - Venezuela
Saturday, November 21, 2009
(BNamericas.com) - Venezuela's average oil export basket price rose US$0.05 in the week of November 16-20 to US$72.75/b, the energy and oil ministry (Menpet) reported.
The average price for 2009 so far has been US$... more
Pemex crude output down 5.62% in October - Mexico
Saturday, November 21, 2009
(BNamericas.com) - Mexican state oil company Pemex's E&P subsidiary PEP produced 2.60Mb/d in October, down 5.62% year-on-year, according to company statistics.
Production, however, was the highest Pemex has recorded... more
Salta launches renewables study - Argentina
Saturday, November 21, 2009
(BNamericas.com) - Argentina's Salta province has launched a study into the use of renewable power in conjunction with the Inter-American Development Bank (IDB).
The study will look at the feasibility and environmen... more
Pampa, YPF sign US$29mn agreement for Neuquén block - Argentina
Saturday, November 21, 2009
(BNamericas.com) - Pampa Energía (NYSE: PAM) subsidiary Petrolera Pampa will invest US$29mn in Argentine oil company YPF's Rincón del Mangrullo block in Argentina's Neuquén province, Pampa Energía said in a statement. <... more
Ministry releases E&P promotional folder - Nicaragua
Saturday, November 21, 2009
(BNamericas.com) - Nicaragua's energy and mines ministry has released a hydrocarbons E&P promotional folder that includes available areas and a summary of legal and fiscal terms.
Available offshore acreage in the Ca... more
Gaffney, Netherland eye reserves evaluation contract - Bolivia
Saturday, November 21, 2009
(BNamericas.com) - Bolivia's state hydrocarbons company YPFB has extended to December 2 from November 25 the deadline to submit offers to quantify and certify the country's natural gas and liquid hydrocarbons reserves. ... more
IN BRIEF Government plans small scale LNG plant - Bolivia
Saturday, November 21, 2009
(BNamericas.com) - Bolivia's government envisions installing a small scale LNG plant in Santa Cruz department, hydrocarbons and energy minister Oscar Coca announced.
The fuel would be exported to Paraguay and Urugua... more