GAZPROM & LUKOIL: $30 BLN FOR MEXICO
Russian energy giants Gazprom and Lukoil are interested in investing in the power generation sector in Mexico, the Bloomberg news agency reported on Thursday citing CEO of the ProMexico trade and investment promotion organization, writes ITAR-TASS.
Francisco Gonzalez Diaz said Mexico is expected to get $30 billion in foreign investment next year. In particular, the country's reforms in the energy sector will enable Russian companies to cooperate with the Mexican state-owned electric utility, CFE.
In February, Russian oil company Gazprom Neft announced plans to expand its asset portfolio with oil production in Mexico. Russia's second largest oil company, Lukoil, signed a cooperation agreement with the Mexican state-owned petroleum and petrochemical company Pemex in January.
Lukoil CEO Vagit Alekperov later said the company planned to join Mexico's offshore projects in the Gulf of Mexico.
In August last year, Russia's giant energy monopoly Gazprom showed interest in Mexico's infrastructure projects, and in particular, in modernizing the gas pipeline system of Mexico's Pemex.
Over 70 years, private companies had no access to Mexico's energy market. An energy reform carried out last year allowed foreign companies access to oil and gas fields in the country.
|July, 23, 13:55:00|
|July, 23, 13:50:00|
|July, 23, 13:45:00|
|July, 23, 13:40:00|
|July, 23, 13:35:00|
|July, 23, 13:30:00|
IEA - For the third consecutive year, global energy investment declined, to USD 1.8 trillion (United States dollars) in 2017 – a fall of 2% in real terms. The power generation sector accounted for most of this decline, due to fewer additions of coal, hydro and nuclear power capacity, which more than offset increased investment in solar photovoltaics.
EIA - Crude oil production from the major US onshore regions is forecast to increase 143,000 b/d month-over-month in July from 7,327 to 7,470 thousand barrels/day , gas production to increase 1,066 million cubic feet/day from 69,466 to 70,532 million cubic feet/day .
U.S. FRB - Industrial production rose 0.6 percent in June after declining 0.5 percent in May. For the second quarter as a whole, industrial production advanced at an annual rate of 6.0 percent, its third consecutive quarterly increase. Manufacturing output moved up 0.8 percent in June.
U.S. DT - The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $69.9 billion. Of this, net foreign private inflows were $58.8 billion, and net foreign official inflows were $11.1 billion.