LatAmNRG eBrief: Jan. 14 2019

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Tune in to Energy Analytics Institute's LatAmNRG Dashboard to watch, read, and/or listen to the latest upstream, downstream and midstream news from the LAC region.

ANDEAN REGION Exxon Ships Have Not Returned To Area Of Venezuela Dispute Seismic research vessels hired by Exxon Mobil to explore for oil off Guyana’s coast have not yet returned to the site of a December incident with Venezuela’s navy, but they may in the future, Guyana’s foreign minister said.

Venezuela Disputes Guyana’s Account Of Incident Involving ExxonMobil Ships Venezuela has disputed Guyana’s account of what Georgetown said was the dangerous incursion into local waters after a Norwegian ship hired by ExxonMobil was “intercepted” by a Venezuelan naval vessel.

Shareholder Alert: Deadline in Class Action Lawsuit Against Tenaris

ClaimsFiler reminds investors they have until Feb. 11, 2019 to file lead plaintiff applications in a securities class action lawsuit against Tenaris S.A., if they purchased the company’s securities between May 1, 2014 and Nov. 27, 2018, inclusive (the Class Period). This action is pending in the US District Court for the Eastern District of New York.

CGX Energy And Frontera Announce Amendment To Agreement Letter CGX Energy Inc. and Frontera Energy Corp. have further amended a letter agreement previously disclosed in a news release of CGX and Frontera on Dec. 4, 2018 and amended on Dec. 14, 2018, to extend the time of the launch of the equity financing in the amount of approximately $20 mln to occur on or prior to Feb. 6, 2019 and anticipated to be completed on or prior to Mar. 15, 2019, subject to regulatory approval.

SOUTHERN CONE Petrobras Reports Suspension Of Prelim Injunction Related To Divestment Program Petrobras, following the press released on Dec. 20, 2018, announced the injunction rendered by Minister Marco Aurélio Mello on Dec. 19, (ADI No. 5942), was suspended by the President of the Federal Supreme Court, Minister Dias Toffoli, until its judgment by the plenary.

Petrobras Updates On Changes To Board Of Directors Petrobras rec'd communication from its controlling shareholder, as assured by Petrobras By-Laws and Brazilian legislation, with the nomination of three new members to the Petrobras Board of Directors, Eduardo Bacellar Leal Ferreira, John Milne Albuquerque Forman and João Cox. Brazil Gov’t Nominates New Petrobras Board Members Amid Meddling Accusations Brazil’s gov’t nominated three new board members for state-owned oil co.

Petrobras, amid accusations that new CEO Roberto Castello Branco was pushing to oust board members.

Trafigura Refuses To Hand Over Emails In Brazil Bribery Case Commodities trader Trafigura has refused a judge’s order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at Petrobras.

CARIBBEAN GB Energy Plans $2 Bln Expansion GB Energy, the marketing co. that holds the Texaco brand in Jamaica, will be undertaking a $2-bln expansion drive to increase the number of petroleum service stations from 72 a year ago to 87 by YE:19, according to CEO Mauricio Pulido.

New Fortress’ $189 Mln Power Plant On Track In Jamaica Managing director of JAMALCO, Austin Mooney, says construction of the bauxite/alumina co.’s $189-mln gas-fired cogeneration power plant by New Fortress Energy is on track for completion by Feb. 2020.

MPC Caribbean Clean Energy Lists The listing of MPC Caribbean Clean Energy Ltd. on the Jamaica Stock Exchange will take place on Monday, Jan. 14, at 9 am. The co. will also be cross-listed on the Trinidad & Tobago Stock Exchange, at the same time.

Trinidad Energy Sector Outlook 2019 Trinidad & Tobago’s energy sector is predicted to make a modest recovery in 2019, on the back of increased natural gas production and hence increased LNG and petrochemical exports. However, this recovery is fragile and could be threatened by continued low oil prices, especially if gas and petrochemical prices

also decline, announced the Energy Chamber of Trinidad and Tobago President and CEO Thackwray ‘Dax’ Driver.

FINANCIAL HIGHLIGHTS Pan American Silver Corp. said Tahoe Resources Inc. has received a final order of the Supreme Court of British Columbia approving the previously announced plan of arrangement pursuant to which Pan American will acquire all of the issued and outstanding shares of Tahoe.

Newmont Mining Corp. and Goldcorp Inc. entered into a definitive agreement in which Newmont will acquire all of the outstanding common shares of Goldcorp in a stock-for-stock transaction valued at $10 bln.

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