Mexico

The board of PEMEX named Marco Antonio Murillo as the new Corporate Director of Administration and Services, replacing Carlos Treviño who recently became Director of PEMEX. Murillo has been with PEMEX for 33 years and has worked principally in human resources.

PEMEX announced that the Francisco Madero refinery in Tamaulipas would start reopening in stages starting Saturday, Dec. 16. The refinery was closed in order to return it to profitability by improving its processes.

Mexican chemical and hydrocarbon storage company CYDSA signed a memorandum of understanding with Canadian energy logistics firm ATCO. The companies propose to invest in the storage of oil, natural gas and refined products.

Italian IOC, ENI, announced that it successfully drilled exploratory well Teocalli 2 in the Bay of Campeche, revising its estimate of reserves in the field that it won in licensing Round 1.2 in September 2015 upward from 1.4 million boe to 2 million boe.

International

Brazilian NOC Petrobras and Exxon Mobil signed an agreement to pursue opportunities for the joint development of exploration, development and chemical opportunities outside of Brazil.

Russian IOC Rosneft signed an agreement with the Venezuelan government Saturday, Nov. 16, to operate two offshore natural gas fields in the Caribbean Sea. The fields contain an estimated 180bcm of natural gas.

US crude inventories fell by 5.1 million barrels in the first week of December, according to the EIA. The draw on inventories coincided with the temporary closing of the Keystone Pipeline from Alberta, Canada to the US’ refineries after a leak in South Dakota.

Reconstruction work started in what was Iraq’s largest oil refinery in the city of Baiji. The refinery was occupied by the so-called Islamic State and reoccupied by the Iraqi government in 2015. Work is expected to be completed in 2015.

 
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