https://padlet.com/jack_brennan/7jv7qfphwg7p Mexican President: 'It Is Not The Time To Stop' On Historical Oil Reforms en-us 2018-01-17 00:07:45 UTC 2018-01-17 00:42:33 UTC hello@padlet.com jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920091 In 3 rounds Mexico has auctioned 30 exploration zones to BP and Eni. They have also auctioned ten deepwater territories.]]> 2018-01-17 00:12:34 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920091 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920354 $30 oil isn't enough to incentivize companies to set about drilling exploratory wells, let alone building costly production platforms.]]> 2018-01-17 00:15:21 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920354 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920510 Production has fallen from 3.4 million bpd in 2004 to 2.26 million bpd this year.]]> 2018-01-17 00:17:08 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920510 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920634 Mexico's biggest oil field was discovered in 1972. It became one of the most prolific fields with production volumes of 2.2 million bpd in 2003. It has been struggling with barley 400,000 bpd.]]> 2018-01-17 00:18:11 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920634 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920882 PEMEX lost $18 billion on revenues of $108 billion. In 3 quarters in ballooned an oil bust hitting $17 billion. PEMEX is in a $70 billion debt.]]> 2018-01-17 00:20:35 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221920882 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921504 Total long-term liabilities are roughly $ 150 billion. Not good for a business that in 2014 handed over nearly half of its revenues to the state, providing for about 20% of government expenditures.]]> 2018-01-17 00:26:30 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921504 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921744 In order to be ready to meet oil demand in the future, Mexico needs to do what it can to stimulate new investment today, and not just for the good of Mexico, but for all of North America]]> 2018-01-17 00:28:59 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921744 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921745 PEMEX may have the opportunity to shine. Faith Birol shared insights from a new report forecasting that global oil demand would grow by roughly 7 million bpd by 2021, while producers are on track to deliver only 4.1 million bpd of new supplies.]]> 2018-01-17 00:29:02 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921745 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921757 PEMEX and STPRM made a collective agreement, there is a major overhang with the pensions and other labor liabilities of the company. A massive restructuring of PEMEX into 3 main companies. ]]> 2018-01-17 00:29:11 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921757 jack_brennan https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921762 Two weeks ago Pena Nieto replaced PEMEX CEO Emilio Lozoya with Jose Antonio Gonzalez Anaya, a veteran, he served on the PEMEX board for three years. Pena tasked Gonzalez with cutting costs at PEMEX.]]> 2018-01-17 00:29:13 UTC https://padlet.com/jack_brennan/7jv7qfphwg7p/wish/221921762