Pemex rated as the most indebted Oil company in the world

Bloomberg – After more than a decade of declining production, wasteful spending and a higher tax burden than any other driller in Latin America, it’s little wonder Mexico’s Petroleos Mexicanos is the world’s most indebted oil company. Pemex’s oil output has plunged by almost half since a 2004 peak, and its proven reserves are just …

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NNPC Champions Female Engineers in Nigeria

The Nigerian Society of Engineers (NSE) has commended the Nigerian National Petroleum Corporation (NNPC) for its exemplary role in the advocacy of science and engineering-based education for the girl child through support for the activities of the Association of Professional Women Engineers of Nigeria (APWEN). Engr. Adekunle Mokuolu, President Nigerian Society of Engineers (NSE), stated …

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U.S. Crude Oil production Hits 12.0 MMbpd

Somewhat to its own surprise, the U.S. Energy Information Administration (EIA) estimates that U.S. crude oil production averaged 12.0 MMbpd in January, up 90,000 bpd from December 2018’s level, and setting yet another all-time U.S. oil output record. This breaks the previous record of 11.91 MMbopd set in December. The rapidity with which U.S. oil …

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Canadian crude prices widened to the biggest discount

Canadian crude prices widened to the biggest discount Heavy Canadian crude prices widened to the biggest discount against New York futures this year as pipeline-operator Enbridge reported that rationing on its heavy oil lines would increase next month.  Western Canadian Select, an oil sands benchmark, traded at $15/bbl below West Texas Intermediate futures Tuesday, $1.50 …

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