President-elect Donald Trump is expected to name the CEO of US oil heavyweight Exxon Mobil Corp as the country’s next Secretary of State. Although Trump has yet to officially confirm Rex Tillerson for the appointment, sources close to the Republican transition team claim the decision has already been made, several news outlets reported.
On Sunday, […]Continue Reading →
Oil prices highest since 2015 as producers agree to cut
Oil rose to an 18-month high on Monday after global oil producers agreed to cut production at the end of November. The Organization of Petroleum Exporting Countries will produce 1.2 billion fewer barrels a day starting from January 2017.
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Mexico’s energy, safety and environmental regulator ASEA has published a long-awaited framework for industrial, operational and environment safety in the exploration and extraction of hydrocarbons, the state agency said in a press release on Wednesday.
“These are cutting edge, robust and consistent rules, formed on the principle of risk-based regulation” [MA1] said Carlos de Regules, ASEA’s Executive […]Continue Reading →
Mexico’s state-owned oil company PEMEX announced on Wednesday the issuance of bonds totaling US$5.5 billion, a development the company said signals investor confidence in the NOC and in Mexico.
The issuance consisted of one 10-year with a 6.625 percent fixed rate yield for US$3 billion, a 5-year 5.5 percent fixed rate […]Continue Reading →
Mexico awarded eight out of ten blocks up for grabs in its milestone deep water round, R01-L04, on Monday, with large IOC’s like Chevron, Exxon and Total among the winners of the National Hydrocarbons Commission’s bidding process.
The ten blocks, four located in the Perdido area and six in Cuenca Salina, were awarded […]Continue Reading →
OPEC defies skeptics, agrees to production cuts
The Organization of the Petroleum Exporting Countries (OPEC) defied skeptics last week when it agreed to the first production cut in eight years. Intended to reduce global oil inventories which are at record levels, the countries will cut output by approximately 1.2 million barrels a day by January.
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