Canada and Mexico are rushing to fill the natural gas vacuum left by the United States’ ongoing moratorium on new liquefied natural gas (LNG) export permits introduced by the Biden Administration in January of this year. The country’s neighbors to the north and south are speeding up their own export …
Read More »Russian Oil Trader Expands in Mexico to Displace USA Refiners
Lukoil PJSC’s trading unit Litasco SA is launching a Mexico operation as the oil giant seeks new markets for Russian products under widespread sanction. Litasco hired oil products trader Yuri Carreno for its new office in Mexico City, according to people with knowledge of the situation. Carreno, who previously spent …
Read More »Eni Makes Oil Discovery Offshore Mexico
Italian oil and gas major Eni SpA on Friday said it had discovered oil in the Sureste Basin offshore Mexico in a prospect that could contain around 200 million barrels of oil in place. The discovery was made on the Yatzil exploration prospect in Block 7, which is located in …
Read More »Shell Sanctions Deepwater Project in U.S. Gulf of Mexico
Shell Offshore Inc, a subsidiary of the UK-headquartered energy giant Shell, has taken a final investment decision (FID) for a deepwater project in the U.S. Gulf of Mexico (GOM), which will be developed as a subsea tie-back to the oil major’s operated Appomattox production hub. While announcing the FID for …
Read More »Oil Majors Shut in Gulf of Mexico Production as Hurricane Ian Advances
Oil supermajors Chevron and BP have evacuated personnel and shut in production at some of their platforms in the Gulf of Mexico as Hurricane Ian advances to the west coast of Florida, in the first shut-in of U.S. offshore oil and gas output this hurricane season. U.S. supermajor Chevron said …
Read More »Mexico Plans to be LNG Export Hub with U.S.-Drilled Natural Gas
Mexico — which imports nearly all of the natural gas it burns — has laid out a somewhat surprising mission: to become one of the world’s top exporters of the fuel, and fast. Although natural gas exports from Mexico are today non-existent, seeing as it produces too little of the …
Read More »Soaring LNG Demand Creates Traffic Jam at Gulf of Mexico Ports
Close to a record number of liquefied natural gas tankers are crowding Gulf Coast export terminals as U.S. exports of the superchilled fuels run at record rates. Reuters reported that Gulf Coast liquefaction facilities are operating near capacity thanks to strong demand, especially from Europe, which is currently trying to …
Read More »Russian Oil Company Starts New Oil Drilling in Mexico
Russian oil company Lukoil on Monday announced that it has started drilling the first exploration well at Block 12, in Mexico, at a depth of 207 meters. ‘After drilling, the geological and geophysical data will be analyzed to make a decision on further exploration at Block 12,’ the company stated …
Read More »Mexico Moves to Launch World’s Largest Oil Hedge
Mexico has asked top Wall Street banks to submit quotes for its giant oil hedging program, sources familiar with the matter said on Friday, while trading in crude oil options has increased this week ahead of the megadeal, Trend reports citing Reuters. The finance ministry has asked banks for price …
Read More »Oil Market Black Monday
The novel coronavirus drastically changed the consumption patterns of hydrocarbon products across the globe.
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