Mexico

PEMEX is on the point of sealing a US$2.6 billion deal with a consortium headed by Japanese conglomerate Mitsui & Co for a coking plant in its ailing Tula refinery.

Mexico’s second deepwater licensing Round 2.4 was a great success with 19 of 29 blocks being awarded. Shell won 9 blocks.

Mexico’s NOC PEMEX plans to raise its refining output from 500,000bpd to 900,000bpd by the second quarter of 2018.

Geoscience data provider TGS won a commercial contract to process its entire library of more than 30,000 wells in Mexico.

International

Shares of Chevron fell as the company performed below its fourth quarter earnings estimates.

The production reduction agreement between OPEC and non-OPEC producers has achieved one goal of reducing inventories to normal levels according to Goldman Sachs.

China became the world’s largest importer of oil in 2017 surpassing the United States, by importing 8.4 million barrels per day.

The Nordstream-2 pipeline from Russia to Germany  for construction and operation in German waters from German authorities

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