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San Antonio-based refiner Valero to spend $200M in Mexico

May 25, 2017 Updated: May 25, 2017 4:10pm From: Express News By Rye Druzin rdruzin@express-news.net @druz_journo “Investors at an energy expo in Mexico City last week got a sneak peek at San Antonio-based Valero Energy Corp.’s plans to spend $200 million building new fuel storage across the border.” “Valero executives at the Onexpo conference May 17-19 said their […]

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BP sees early promise, growing investment in Mexico energy

Wed May 17, 2017 | 1:15pm EDT REUTERS   By David Alire Garcia “BP Plc’s first foray into Mexico’s recently opened energy market is proving more promising than expected, and the government should offer more big projects to lure investment, the British oil major’s Mexico boss said in an interview.” “Chris Sladen, country manager for Mexico, said […]

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Shell company to open its first gas station this year in Mexico

By Roberto Noguez Noguez Mexico, May 18 (Notimex) . “The Anglo-Dutch Shell will open its first service stations in Mexico this year with the goal of being one of the three most important players in the sector, and not rule out in the future participation in development Of infrastructure.” “Downstream director of the company, Andrés […]

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Wall St. rises as oil price jump boosts energy shares

Tanya Agrawal  “U.S. stocks opened higher on Monday as a rise in oil prices boosted energy stocks, soothing some nerves following a massive cyber attack that locked up 200,000 computers in more than 150 countries. Oil hit a three-week high after top exporters Saudi Arabia and Russia said supply cuts needed to last into 2018, […]

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Exxon, Petrobras Said to Have Discussed Strategic Partnership

Sabrina Valle “Exxon Mobil Corp. and Petrobras have held talks on a strategic partnership that could involve multiple assets in Brazil and overseas in different segments of the industry, similar to the $2.2 billion deal signed with Total SA in December, said people familiar with the conversations. Such a deal could give Exxon access to […]

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Mexico’s Pemex says March crude oil exports hit record low

Reporting by David Alire Garcia; Editing by Andrew Hay “May 5 Mexican national oil company Pemex said on Friday that March crude exports fell to a record low of just above 1 million barrels per day (bpd), while oil output for the month also dipped. Pemex’s March crude shipments averaged 1.001 million bpd, the lowest […]

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Pemex Likely to Return Very Small Amount of Fields to State: CEO

By Adam Williams and Lucia Kassai “Petroleos Mexicanos plans to develop most of the 120 oilfields the government granted the state-owned company, returning “only a very low percentage,” according to the company’s chief executive officer. The production regions were given to Pemex, as the company is known, when Mexico’s oil industry opened to private competition […]

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Oil Rises From One-Month Low Before U.S. Crude Inventory Data

by Grant Smith “Oil rose from its lowest close in a month amid estimates that U.S. crude inventories continue to shrink, although refined products are growing more plentiful. Futures gained as much as 0.9 percent in New York after dropping 1 percent Monday. U.S. crude stockpiles are forecast to have decreased for a fourth week […]

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OPEC May Need to Extend Production Cuts to End of Next Year

By Anthony Dipaola “OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018, a veteran market analyst said. The reaction of global crude inventories to the cuts will determine how long the Organization of […]

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Mexico Seeks New Home for Its Oil as Gulf Coast Turns to Canada

by Sheela Tobben and Amy Stillman “Shipments of crude to the U.S. from Mexico fell to a new low last week, extending a trend that go back to when the Energy Information Administration began compiling preliminary weekly import data in June 2010. Imports totaled 290,000 barrels a day in the week ended April 14, a […]

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