This weekend, a swarm of drones launched by a yet-to-be-confirmed perpetrator hit one of Saudi Arabia’s most important oil infrastructures. While it is difficult for rockets to pass their state-of-the-art missile defense system, the strikes managed to do massive damage due to drones flying low, and unexpectedly coming from the west. As a result, relations in the Middle East are deteriorating further, as oil prices rise sharply. In Mexico, both PEMEX and the private sector have been restless, too.
Ready for more? Your weekly roundup has arrived!
Drone strikes devastate key Saudi Arabian infrastructure that produces 5 percent of the world’s supply
On September 15, Saudi Aramco installations were hit heavily. While Yemeni rebels claimed to be the perpetrators, Saudi Arabia itself claims to have found proof in the wreckage of an elaborate attack devised by Iran. Washington suggests that Yemen might be behind the attacks.
Tweeting on the issue, Trump hinted Saudi Arabia might be correct in assuming Iran being the real perpetrator and even hinted that the US is ready to retaliate.
Oil prices rose sharply, while Saudi Arabia promises a swift return to production
The international market seems to still be on edge, resulting in an almost 20 percent increase in the WTI and Brent oil prices. Exporting prices for Mexican oil rose considerably as well. However, all that glitters is not gold. AMLO immediately sat down with PEMEX and promised the Mexican people that gasoline and diesel prices would not to increase, in order to diffuse any potential unrest before it starts.
CNH allows companies to explore in shallow waters
The government entity handed over permits for exploration in shallow waters to Total E&P Mexico and Shell and granted PEMEX more investments in these fields, potentially to increase its recovery of oil by 30 percent.
Private companies double gasoline and diesel imports to Mexico
Shell and BP have imported 30.44 million barrels of oil to Mexico, a 126 percent increase compared to 2018, with the aim to raise price competitiveness in the country.
Polarcus launches two vessels to gather seismic data in Mexico
Data will be used to shorten the exploration cycle in the Salina del Istmo offshore basin.