Mexico

PEMEX announced that CEO Carlos Treviño would be meeting with investors in New York in the next week to promote the companies business plans and international focus.

PEMEX registered a US$19 billion loss in 4Q17 due to foreign exchange losses and higher financial costs.

Mexico has announced licensing round 3.3 which will consist of nine unconventional blocks located in the Burgos basin.

Prior to winning nine blocks in licensing round 2.4 Shell maintained secret a major discovery in the adjacent US GoM.

International

Exxon Mobil has pulled out of a joint venture with Rosneft as a result of US sanctions against Russia.

The Philippine government and unnamed Chinese oil company are discussing the possibility of collaborating in the exploration of fields in the South China Sea.

The United States is considering an oil embargo against Venezuela prior to the country’s April 22 elections.

The head of OPEC will be dining with United states shale producers during the CERA week conference in Houston.

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