By the time Mexican President-Elect Andrés Manuel López Obrador (a.k.a. AMLO) takes power on 1 December 2018, international investors hope to get a clearer understanding of his administration’s plans regarding international investment in his nation’s offshore oil reserves. While questions remain about AMLO’s policy regarding both new and existing contracts for offshore oil, some experts see reason for optimism.

EnerMech Group Ltd has been acquired from Lime Rock Partners by global alternative asset manager and NASDAQ listed The Carlyle Group for an undisclosed sum.

Atlantic Basin Distillate Tight, Gasoline Weak, but Both Will Stay Supported by Import Requirements into Latin America

The United States likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in EIA’s Short-Term Energy Outlook (STEO). In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999.

Equinor has signed an agreement with PGNiG to sell its non-operated interests in the Tommeliten discovery on the Norwegian Continental Shelf (NCS) for a total of USD 220 million.

Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion since the development plans were submitted to Norwegian authorities.

Oil Balances Tight, But Manageable. Expect More Volatility

VesselsValue (VV), a world leading online valuation provider, is launching daily Discounted Cash Flow (DCF) valuations for Mobile Offshore Drilling Units (MODUs).

Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has reached an agreement with publicly listed Norwegian Energy Company ASA (Noreco), to sell its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU) for a consideration amount of $1.9 billion. SOGU is a wholly-owned Shell subsidiary that holds a 36.8% non-operating interest in the Danish Underground Consortium (DUC).

This acquisition makes Ensco the largest MODU owner by value, with a total fleet (live, on order and joint ventures) worth USD 8.4 Bn knocking Transocean from the top spot which they held for a month due to their merger with Ocean Rig.

Expected drop in refining runs to produce product stock draws. Crude inventory to continue reducing but at slower pace. Hurricane Florence to impact products demand and potentially pipeline supplies in Lower-Mid-Atlantic region.

Impact of 2020 IMO Spec Change on Asia: Which Countries Will Benefit?

IMO Bunker Spec Change Will Reduce Asian Distillate Surplus

Texas-based American investor and entrepreneur Michael Guidry has plans to invest in North Africa with a $1 billion deep-sea port based in Susah, Libya. When completed, annual revenues for the "Port of Susah" are expected to reach $120 million by the year 2040 -- doubling from an anticipated $60 million in 2022, which is the first year the port will be fully operational.

Westwood estimates 2017 global utilization reached a low of 32%, down from 55% in 2014.

CGG S.A. (“CGG”) announces that the Board of Directors has unanimously approved the voluntary delisting of its American Depositary Shares (“ADSs”) from the New York Stock Exchange (“NYSE”) and its voluntary deregistration with the United States Securities and Exchange Commission (“SEC”). CGG believes that the costs associated with continuing the listing and registration of its ADSs exceed the benefits received by CGG, as the primary market for CGG shares is Euronext Paris.