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The popularity of methanol as a bunker fuel will hinge on commercial considerations rather than environmental concerns, as the marine industry confronts an array of viable alternatives that comply with the International Maritime Organization’s 2020 sulfur cap, sources said at an industry event. Methanol is a biodegradable, clean-burning marine fuel that reduces smog-causing emissions, and […]
A pipeline network with spare capacity could allow Mexico to export oil and gas from its flagship offshore Trion project to the United States, the head of Mexico’s oil regulator said on Thursday. The deep water Trion development, with prospective reserves of almost 500 million barrels of oil, was farmed out in December by state-run […]
Mexico’s National Hydrocarbons Commission (CNH) presided over the signing of seven deepwater exploration and production contracts on Friday, bringing an end to the country’s historic Round One series of oil auctions. The contracts were for blocks located in the Gulf of Mexico: three in the Perdido Fold Belt, a 40,000 sq.-kilometer (15,450 sq.-mile) area located […]
After being punished last year on speculation that now President Donald Trump could win the 2016 presidential election, the iShares MSCI Mexico Capped ETF (NYSEArca: EWW) is rebounding in earnest this year. EWW, the largest Mexico ETF trading in the U.S., is higher by more than 9% year-to-date and has surged almost 7% over the […]
BHP Billiton has signed a contract with Pemex Exploration & Production Mexico to finish work on the Trion discovery in the deepwater Gulf of Mexico. BHP secured a 60 per cent interest in the resource in December last year with Pemex retaining the remaining 40 per cent stake. Trion has an estimated recoverable resource of […]
Mexican national oil company Pemex produced 10.6 percent less crude oil in January than in the same month last year, the company said. January crude output averaged 2.02 million barrels per day (bpd), down from 2.26 million bpd during the same month in 2016, according to company data released on Friday. Meanwhile, crude oil exports […]
Too much fanfare and accompanied by voluminous industry coverage, Mexico recently concluded Round 1.4, the country’s first ever deepwater licensing round. However, Mexico’s shallow waters may yet have a future too: Bay of Campeche reserves remain considerable and indeed, the country’s third shallow water bid round is ongoing. It is therefore worth reviewing the current […]
A border tax floated by aides to U.S. President Donald Trump is “not a good idea” for bilateral energy trade, a senior Mexican official said on Wednesday, also confirming that Mexico’s second-ever deepwater oil auction would happen this year. A 20 percent border tax on Mexican imports to the United States has been pitched by […]
When it comes to NAFTA and energy, there is no doubt that Mexico gets the better end of the deal with a series of special carve outs for its national industry. The result has been an unbalanced, incongruous relationship between the United States, Mexico and Canada. In other words, when it comes to energy, NAFTA […]
BHP Billiton has approved its share of the $US9 billion ($11.8bn) Mad Dog 2 offshore oil project in the US Gulf of Mexico, six weeks after operator BP ticked off on the project. For BHP, its 23.9 per cent stake in the 140,000 barrels per day platform will set it back $US2.2bn ($2.8bn) and offset […]
