Mexico

A new milestone has been accomplished in the Mexican oil and gas industry with the inclusion of the first public company, with the purpose of acquiring O&G assets, on the Mexican Stock Market (BMV). Vista Oil& Gas raised 30 percent more capital than expected, making it the fourth-largest IPO in the history of the BMV.

The CNH gave its favorable opinion to the Ministry of Energy to approve the migration of three PEMEX deepwater previous allocations to a license contract format. This opens the possibility that PEMEX may seek to establish future farm-outs in the areas of Maximino-Nobilis and Chachiquin.

With these future farmouts, Pemex is seeking to develop deepwater projects

ASEA endorses and issues the new standard procedure for filling LP gas cylinders. This new norm seeks to standardize the safety process that must be followed for the partial or total filling of the cylinders according to the different economic needs of the consumers

 

International

The economic and social crisis in Venezuela rose as a result of sanctions imposed by the US to prohibit the importation of hydrocarbons from that country, and due to the refusal of 12 American countries to recognize the new Constituent Assembly predisposed in the last elections of Venezuela.

Production Cuts will remain up to March 2018.

OPEC production keeps oil price below US $50 per barrel, even with the 75 percent reduction in oil production accomplished, the International Agency of Energy (IEA), estimates that the demand for oil in the world will increase faster than expected, in addition to this agreement, stock markets WTI and Brent oil prices reacted to the tension between North Korea and the US.

 
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