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)

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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