Mexico

PEMEX imported its first shipments of ethane as an internal analysis predicted that Mexico’s production of the petrochemical feedstock would decline by 20 percent in 2018.

Premier Oil has announced its expectation that exploratory appraisal drilling will start in 2018 or 2019 on the Zama field in the Gulf of Mexico which it is developing in consortium with Talos Energy and Sierra Oil & Gas.

Ricardo Anaya, precandidate for the Mexican presidency of the Partido Accion Nacional (PAN) advocated for a revision of the Fiscal Coordination Law so that the state of Campeche is returned a greater part of the oil income it contributes to Mexican government coffers.

The Universidad Nacional Autónoma de México (UNAM) announced that it is seeking patents for a chemical which when injected into reservoirs permits the tracking of flows of fluids within the reservoirs.

International

According to Russian Energy Minister Alexander Nova Russia is evaluating its participation in the current OPEX production cut deal considering the market to be close to equilibrium.

The number of active oil and rigs in the United States rose by 15 last week to reach a total of 939 rigs a difference of 280 year over year.

Thursday Jan. 11 oil prices reached US$70 per barrel for the first time since December 2014.
Hong Kong, London and New York stock exchanges have been shortlisted for the Saudi Aramco IPO expected later in 2018.

 
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