GeoPark: Colombian production resumes after protests
Jun 1, 2021 1:50:pm
Summary
by: Daniel Graeber
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GeoPark: Colombian production resumes after protests
Latin American-focused oil and gas explorer GeoPark said June 1 it was able to resume operations in Colombia following disruptions from domestic protests.
GeoPark announced May 17 that road blockades and other demonstrations affected operations across three fields in Colombia, two of which were operated by the company.
Strikes across Colombia greeted an April tax reform proposal. Working to alleviate chronic debt, Colombian president Ivan Duque proposed a higher tax for middle- and high-income earners, sparking a major public backlash.
Colombian energy company Ecopetrol said last month that its upstream, midstream, downstream and commercial and marketing segments were all impacted by the social unrest. Apart from road blockades, the company said there had been isolated incidents involving its infrastructure.
Lion Energy eyes hydrogen biz
May 5, 2021 3:33:am
Summary The Australian oil and gas explorer will establish a team of hydrogen experts and work with global players to build solar/wind farms and energy storage facilities.
by: Shardul Sharma
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Lion Energy eyes hydrogen biz
Sydney-listed oil and gas explorer Lion Energy would be entering the green hydrogen business, it said on May 5. The company will run the business under the name Lion H
2 Energy.
“We are excited to venture into green hydrogen to participate in the energy transition and to leverage Australia’s comparative advantage in renewable energy,” Tom Soulsby, Lion’s executive chairman, said.
China s ENN Cuts Stake in Santos
Australian oil and gas explorer Santos on March 8 said that China s ENN Group has reduced its stake in the company.
ENN Group sold approximately 107.1mn shares representing a 5.14% interest in the company at A$7.33 (US$5.65)/share. Despite the sale, the Chinese company remains Santos largest shareholder with 9.97% ownership.
“ENN has advised Santos that it remains fully supportive of Santos strategy and future direction and is excited to remain Santos largest individual shareholder,” Santos said.
As a result of the reduced shareholding, Santos 2017 strategic relationship agreement with ENN regarding board representation and other matters is no longer effective. Accordingly, the ENN-nominated director Eugene Shi will resign from the Santos board following the completion of the sale, the company said.
Oz Santos Reports $357mn Net Loss
Feb 18, 2021 3:21:am
Summary
by: Shardul Sharma
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Oz Santos Reports $357mn Net Loss
Australian oil and gas explorer Santos on February 18 reported a net loss of US$357mn during the 12 months to December 31 thanks to lower oil prices. It had recorded a net profit of US$674mn in the previous year.
“The reported net loss after tax of US$357mn includes the previously announced impairments, primarily due to lower oil price assumptions,” it said. Despite the net loss, the company delivered an underlying profit, which removes one-time charges, of US$287mn, down 60% year/year.