Prices of gas LP, commonly used for cooking and heating in Mexico, rose by up to 60 percent in the first 10 months of 2017 as distributors raised prices citing high international prices and complicated logistics.
The inconstancy of Mexico’s exports of Olmeca grade crude oil is sending clients to look elsewhere after there were no exports of the light crude in September, May and June. No reasons were given by PEMEX for the intermittent production.
The consortium formed by Talos Energy, Premier Oil and Sierra Oil continue in talks with PEMEX to reach a pre-unitization agreement for the landmark of the Zama discovery, which extends into adjacent blocks held by the Mexican NOC.
Twelve members of a criminal organization tapping oil pipes in the state of Puebla were arrested with 60,000 liters of gasoline and diesel as part of the country’s ongoing struggle with pipeline theft.
Saudi Arabian oil exports to the United States dropped to a thirty year low as the kingdom attempts to lower its crude oil stocks in the United States in a bid to keep upward pressure on prices.
Oman’s oil minister Mohammed bin Hamad al-Rumhi confirmed his expectation that Saudi Arabia would take its oil company Aramco public in 2018, in accord with earlier statements by Saudi Aramco’s chief executive saying that the Saudi Arabian NOC would be listed on the Tadawul, the kingdom’s domestic stock market in the second half of 2018.
Chinese oil inventories rose by 37 million barrels the first nine days of November after falling in October and September according to satellite images.
Four oil platforms operated by Shell on the United States’ side of the GoM were shut on the Enchilada platform, notified the company on Tuesday, Nov. 14.