Oil and gas investment fund L1 Energy said on Aug. 5 it had appointed a former executive from oilfield services firm Schlumberger as president of its Mexican and South America business.
L1 Energy, part of Russian tycoon Mikhail Fridman's LetterOne Group, said Juan Manuel Delgado, formerly Schlumberger's chairman and executive director in Mexico and Central America, will be responsible for L1 Energy's business development and future operations in Mexico and the broader region.
L1 Energy expanded its operations following the acquisition of German utility firm RWE's oil and gas business DEA earlier this year. It said it intends to invest in Mexico's expanding oil sector.
"We intend to invest for the long term in Mexico as the country's energy industry enters an important new period," L1 Energy executive chairman John Browne, a former chief executive officer at British oil and gas company BP, said.
Recommended Reading
US Crude Oil Stocks, Excluding SPR, Fall to 2-Year Low, EIA Says
2025-01-15 - Crude inventories fell by 2 MMbbl to 412.7 MMbbl in the week ending Jan. 10, the EIA said, compared with analysts' expectations in a Reuters poll for a 992,000-bbl draw.
US Crude Stocks Fell Last Week as Exports Jumped, EIA Says
2024-12-18 - Crude inventories fell by 934,000 bbl to 421 MMbbl in the week, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.6-MMbbl-draw.
Oil Set for Weekly Loss on Surplus Fears After OPEC+ Cut Extensions
2024-12-06 - The Organization of the Petroleum Exporting Countries and its allies on Dec. 5 pushed back the start of oil output rises by three months until April.
What's Affecting Oil Prices This Week? (Dec. 30, 2024)
2024-12-30 - Looking forward, Stratas Advisors forecasts that Brent oil will average $76.90 in 1Q25.
Oil Prices Ease as US Tariffs On Mexico Paused for a Month
2025-02-03 - WTI crude futures were down $0.04, or 0.01%, at $72.49 after climbing as much as 3.7% earlier in the session to reach their highest since Jan. 24 at $75.18.