From the Washington Examiner Mexico’s Senate voted overwhelmingly in favor of approving the U.S.-Mexico-Canada Agreement on trade, a deal that would replace the North American Free Trade Agreement. The measure passed with a 114-4 vote, bringing the agreement one step closer to fruition. Mexican President Andrés Manuel López Obrador convened a special legislative session to hold the vote after the Senate
By Tyler Losier, Energy Reporter, Oil & Gas 360 Howard Energy Partners completes expansion of Port Arthur and Corpus Christi terminals This week, Howard Energy Partners (HEP) announced the completion of two expansion projects at its Port Arthur and Corpus Christi bulk liquid terminal facilities, increasing HEP’s Gulf Coast storage capacity to 2.6 million barrels. The expansion also upped the
From Bloomberg President Andres Manuel Lopez Obrador’s plan to rescue the heavily indebted state oil company suffered a decisive blow Wednesday, with two ratings agencies warning he’s only hurting Mexico’s finances. In almost simultaneous announcements late Wednesday, Fitch Ratings cut Mexico’s credit rating to BBB from BBB+, while Moody’s Investors Service shifted the outlook on its A3 rating to negative.
From Reuters WASHINGTON (Reuters) – A White House trade adviser and a leading Republican senator said on Wednesday that a U.S. plan to impose tariffs on Mexican goods might not go into effect, offering hope for Mexico and American businesses concerned about economic damage from a new front in President Donald Trump’s trade wars. Adviser Peter Navarro told CNN that
By Tyler Losier, Energy Reporter, Oil & Gas 360 Actually, it’s been a rough few weeks for crude oil. West Texas Intermediate near-month futures are down just about 20% since WTI peaked at $66.60 in late April of this year, closing out yesterday at $53.25. And by the look of today’s NYMEX chart, it seems as though the rollercoaster ride
From Reuters HOUSTON (Reuters) – U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world’s biggest buyer of U.S. energy products. Mexico sends 600,000 to 700,000 barrels of oil to the United States
Frontloaded CapEx: Talos spends 32% of yearly budget By Richard Rostad, analyst, Oil & Gas 360 Talos Energy (ticker: TALO) announced first quarter results today, showing a net loss of $109.6 million, or ($2.02) per share. Talos spent $155.6 million in the quarter, up from the $142.4 million the company spent in Q4. Talos reports its capital program is heavily
From The Wall Street Journal Mexico’s government is notching some successes in its battle against the country’s fuel thieves, dealing a blow to organized crime and restoring lost revenues to financially troubled state-run oil company Petróleos Mexicanos. During the first three weeks in April, fuel theft fell to just 4,000 barrels a day, compared with an average of 56,000 barrels
Well flow tested at 7,900 BOEPD, core sets Mexican offshore record with 714 feet of whole core Zama will ‘be impactful for the company and for the Mexican economy’ – Talos CEO Duncan Talos Energy Inc. (stock ticker: TALO, $TALO) reported good results for its Zama appraisal program in Block 7, located in the offshore portion of Mexico’s Sureste Basin in the Gulf
From Bloomberg International oil companies including Malaysia’s Petronas, U.S. independent Murphy Oil Corp. and Spain’s Repsol SA are pushing ahead with plans to develop Mexico’s deep-water fields, as they face criticism from the government that they aren’t moving fast enough. “We’re not out there just sitting on acreage and waiting,’’ said Adam Seitchik, general manager of exploration and new ventures at Murphy Oil, speaking
From Reuters Mexican state oil company Pemex imported crude oil in February despite the new president’s sharp criticism of the previous government’s authorization of foreign oil shipments, official data showed on Tuesday. President Andres Manuel Lopez Obrador, who took office in December, promises to make Mexico energy independent over the next three years and has often blasted foreign imports as
From Reuters Mexican state oil company Pemex said on Wednesday its losses narrowed in 2018, helped by currency exchange gains as crude production and refining rates continued to decline. Pemex, Mexico’s largest company, reported a loss of $7.6 billion in 2018, down by nearly half from losses of about $14.3 billion the previous year, according to a filing with the
