- 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)
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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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