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Crude prices fell on Monday in the first trading session after OPEC-members failed to agree on output targets to reduce a bulging glut that has resulted in oil prices falling by more than 60 percent since June 2014. The Organization of the Petroleum Exporting Countries failed to agree on an oil production ceiling on Friday […]
Mexico’s national oil company, Petróleos Mexicanos, is opening its first gas stations in the U.S. with five inaugural stores right here in Texas. Known as Pemex, the Mexican oil company opened its first gas station at 9722 Park Place Blvd. in Houston on Dec. 3. Four more stations are planned to open in Houston this […]
Las fianzas han sido recientemente incorporadas como una opción de garantía de cumplimiento en los contratos de la Ronda 1 de la Comisión Nacional de Hidrocarburos, abriendo con ello mayores oportunidades y ventajas para los nuevos operadores petroleros. El cuadro siguiente muestra las principales ventajas y diferencias entre estas 2 garantías: En conclusión, la fianza […]
The International Monetary Fund on Monday approved the Chinese renminbi as one of the world’s main central bank reserve currencies, a major acknowledgement of the country’s rising financial and economic heft. The I.M.F. decision will help pave the way for broader use of the renminbi in trade and finance, securing China’s standing as a global economic power. […]
The world’s economies have not been idle in the face of climate change. Companies and consumers are endeavouring to reduce their carbon footprint by investing in energy efficiency and changing their travel plans. Financial institutions are pressed to disinvest shares in fossil fuel industries by the “Keep it in the ground” campaign launched by NGOs […]
The iconic Lloyd’s building in London is one of the most emblematic and important places for the insurance industry and it is commonly known as the birthplace of marine insurance throughout the world. It is where vessels, oil rigs and the most complex drilling and construction projects both on land and sea, are protected. By: Paulina […]
In order to make contracts more attractive for bidding on the third call for Round 1, last november 11, the press release No. 129 was issued by the Ministry of Energy (SENER), Secretariat Finance and Public Credit (SHCP) and the National Hydrocarbons Commission (CNH) where they unveiled modifications to the conditions and the model contract […]
The OECD trimmed its global economic forecasts for the second time in three months as slower growth in emerging markets spilled over into countries such as Germany and Japan. World output will expand 2.9 percent in 2015 and 3.3 percent in 2016, down from the 3 percent and 3.6 percent predicted in September, the Organization for […]
A sales push by Saudi Arabia into north Europe’s refineries, a step into rival Russia’s backyard, piles fresh pressure on oil prices already struggling against oversupply. Stung by Russia’s success in supplanting it in the giant Chinese market, Riyadh has embarked on a charm offensive in Europe, cutting its prices for December by more than […]
Since the financial crisis, the tide of recovery has not lifted all boats equally. But in few industries is that more true than in shipping. Demand for oil tankers has boomed: a combination of weak spot prices and higher futures prices, driven by the assumption that supply and demand for crude will eventually rebalance, has […]
