Last week marked a preliminary NAFTA 2.0 agreement between Mexico and the US, Fluvio Ruiz, incoming Director General of PEMEX Exploración y Producción, claimed the Ministry of Finance owed PEMEX MX$70 billion and OPEC members are gauging their options to compensate Iran’s dropping oil exports.
Ready to strike oil? Here’s your weekly […]Continue Reading →
Never say never, but unfortunately, things are not looking bright for the oil prices this year. Understanding the drop is essential to predicting future developments, and the nature of it pretty much boils down to the simple laws of supply and demand, athough the impact of a strenghtening US dollar and a reduction in investment […]Continue Reading →
On the 3rd of December PEMEX opened its first gas station in the US, choosing Houston as its base location for living out the American dream. The gas station is selling petrol from the US at the second lowest price in all of Houston, an advantage it will need to compete with the seven other gas stations […]Continue Reading →
Recent events around the globe have led to record-low oil prices, reminding us just how closely the price of oil is linked to geopolitics. Brent crude has fallen 50% since last June, dropping below the US$50 per barrel benchmark today, reaching its lowest since January 2013. Analysts have identified the main causes of this drop […]Continue Reading →
For the first time, Indian Oil Corp. (IOC), a state-owned company and India’s biggest refiner, added Mexican heavy Maya to its crude mix. This unprecedented event came in response to recent sanctions on Iranian oil imports, on which IOC used to rely, imposed by the United States and Europe to halt Iran’s nuclear programme. Even […]Continue Reading →