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Fifty years of oil trading
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
Trump’s LNG metamorphosis
Fast-tracking US project approvals and increased trade pressures have already changed the LNG landscape since Trump came to office, with further transformation ahead
Pemex scrambles to plug the gap
The NOC’s dire financial situation and maturing fields have left the authorities with little choice but to reduce crude expectations
Letter from the US: Oil and gas producers face tax threat
Capping state corporate income tax deductions would reduce energy supplies and raise prices
Trump’s energy policy paradox
US consumers are not likely to see gasoline prices fall to Trump’s ‘beautiful number’, at least if the president also wants to encourage more drilling
Letter from the US: Houston has a problem with Trump’s energy policy
At some point it is likely that $70/bl will be quietly accepted as the producer-consumer sweet spot for a US administration having to balance both sides of the ledger
On tariffs, Trump is an open book
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Letter from the US: Trumpism threatens oil producers’ survival
Well-functioning democracies are required for healthier economies and a thriving oil industry
Dangote must face energy security home truths
Nigeria’s mega-refinery is traversing the world in search of crude for the majority of its needs and may well export large swathes of its products
US upstream reasserts strategic importance
The country’s renewed focus on energy security has seen it move closer to Russia and Saudi Arabia on supply
Shell's Deer Park refinery
Refining Mexico US Pemex
Charles Waine
13 July 2021
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Warning signs for Pemex refinery deal

Political downstream agenda and company track record cause unease over Texas refinery purchase

The $596mn acquisition of Shell’s Texas Deer Park refinery by Mexican NOC Pemex is facing increased political hostility in the US after Republican Congressman Brian Babin filed a letter of complaint to Secretary of Energy Jennifer Granholm calling on the deal to be annulled.  Babin expressed concerns with the firm’s lack of operational expertise and highlighted potential security risks associated with a foreign state-owned business holding strategic control of US assets. If finalised, Pemex would take a 100pc stake in the refinery, giving the company access to 340,000bl/d in downstream processing capacity. None of Pemex’s six existing Mexican refineries has the operational complexity of Deer

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