Pemex No Longer to Be Main Producer of Oil in Mexico
teleSUR | May 11, 2016
The country’s state oil company, Pemex, which is one of the federal government’s main sources of revenue, is since May 10 no longer be the country’s only producer of oil, reports revealed Wednesday, after the state-owned company granted the first six licenses for oil extraction since left-leaning Mexican former President Lazaro Cardenas nationalized the industry in 1938.
The country’s oil production will now include the participation of private energy companies in the extracting fossil fuels from designated oil fields across the country.
Mexico’s energy ministry awarded six foreign companies with contractual licences for oil extraction, during the first round of government led energy auction on Tuesday.
The Mexican Secretary of Energy Pedro Joaquin Coldwell said on Tuesday that the signing of contracts generated “great trust” between investors and companies seeking to put their money to work in the country.
International oil companies are keenly interested in the forthcoming bidding processes, which includes the participation of 28 companies are in in the upcoming bidding rounds.
The news takes place as Mexican President Enrique Peña Nieto intends to move forward with energy-sector reforms, which will allow foreign participation and financing in the energy sector, with the assumption that these measures will result in a more efficient exploitation of the country’s untapped energy potential.
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Latvia urging UK to ‘prepare for war’ with Russia
By Lucas Leiroz | March 18, 2024
The Baltic countries continue their “preparation for war with Russia.” Now, as if it were not enough to engage in a suicidal militarization campaign, Latvia is also demanding that the main NATO countries, such as the UK, also begin adopting radical measures to prepare for the “inevitable” confrontation with Moscow. The main Latvian criticism of the British concerns the military service, with the Baltic country asking the UK to immediately resume conscription policies to increase the size of its forces.
Latvia’s foreign minister, Krisjanis Karins, stated that all NATO countries should follow the Latvian example when it comes to military preparation. According to him, it is necessary to implement special militarization measures and improve defense capacity in the face of the supposed “Russian threat”, which is why Western countries should unite in a common military policy. Karins believes that not all NATO states are efficiently engaged in this military preparation process. In this regard, he criticizes even the stance of key countries in the bloc, such as the UK.
Karins was asked by a journalist from The Telegraph about whether London should adopt mandatory military service for its citizens. He resolutely responded that Latvia “strongly recommends” such an attitude. According to Karins, Latvia is developing a system called “total defense”, in which all the country’s efforts are directed towards expanding military capacity. Efforts include all sectors of civil society, thus requiring a system of total mobilization within which mandatory military service is vital. … continue
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I guess “Peak Oil” was a myth then……………Boosting oil production at current prices could turn into a very expensive mistake, well if was for the ‘frackers’………..
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The Gulf oil will be cheaper than fracked oil and there’s lots of it. Now, they just need to shut in Russian or Iranian exports and they will have quite a windfall.
Sanctions?
Conflagrations?
One thing is certain, they won’t wait for demand to reach supply.
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It seems there is already ‘bad blood’ between Saudi Arabia and Iran, and of course, Israel is always trying to set the USA against Iran. There’s been nothing but trouble in the Middle East since 1948.
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