This week the oil industry faced a mixed bag. While Russian and Mexican entrepreneurs pledge investment in Mexico’s energy sector, the country continues to experience drops in production and fuel continues to be stolen. Meanwhile, CFE is evaluating the transfer of its pipelines to CENAGAs and investigations are underway in LPG theft.
In Latin America, […]
by Sara Warden
Venezuelan oil prices reached US$86/b, their highest value in five years and US$7 more than Brent crude on the back of political tensions caused by Wednesday’s self-appointment of Juan Guaidó as interim President of the Caribbean country and Nicolas Maduro’s refusal to concede power. One of the causes of this price increase is the possibility […]Continue Reading →
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 →
Shells makes a new discovery in the GoM, Hokchi Energy sets the bar high for private operators and Jaguar E&P and Vista Oil & Gas sign the first private farmout in Mexico’s history. Meanwhile, PEMEX snaps out from a hefty fine and CNH takes another step in raising the interest in IOR and EOR […]Continue Reading →
Conoco Phillips seizes Caribbean assets of Petroleos de Venezuela (PDVSA) to force the state-run company to pay US$2 billion for the concept of damages caused to the American oil giant by the Venezuelan government’s unilateral step to nationalize hydrocarbons assets back in 2007, under the government of late president Hugo Chavez.
The resolution emitted […]Continue Reading →
After months of dropping oil prices with no end in sight, it seems that the commodity has finally come to its senses, with Brent, the international reference, rising up from approximately US$30 to around US$40 in less than one month. The itching question on everyone’s mind is “will it last?”.
Let us recall in brief […]Continue Reading →