Monday, December 11, 2017

Mexico Cancels GOM Project -- Mexico Blames It On Brazil -- December 11, 2017

From Reuters via Rigzone, data points:
  • the Nobilis-Maximino project, a joint venture with Pemex, scuttled
  • potentially lucrative deepwater GOM project
  • reserves estimated to be 500 million bbls, mostly crude (less than two years of Bakken production)
  • lack of interest by investors
  • Mexico blames it on "low oil prices" and recent Brazil auction
  • recent Brazil auction: six of eight blocks in Brazil were award to majors in late October
  • huge setback for Mexico (see article)
Back To The Future

Mexico loses more than $1 billion in fuel theft -- Argus Media. Data points:
  • much of the theft is attributed to well-organized bands of thieves tapping into pipelines
  • solution: fuel-by-rail (FBR)
  • joint venture between Bravo and USD
    • Bravo: based out of Newport Beach, CA
    • USD: a subsidiary of USD, based out of Houston, TX
  • destination: Queretaro, Mexico -- booming area

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