Despite global economics wreaking havoc on Pemex, Mexico’s insular ‘energy sovereignty’ policy continues.
Brouillette says he expects the Chinese to honor their agreement to buy $50 billion of US oil, LNG and coal over two years.
The decision, in effect for a year, could increase US petrochemical exports to China.
South Korea passes Canada as the top importer of U.S. oil; China is No. 3.
While many second-tier producers struggle with the effects of added U.S. crude supply, the big three make common cause.
Sanctions forced Indian importers to seek other suppliers.
Booming oil and gas production, particularly from the Permian Basin, has made the industry reliant on foreign markets to continue its growth.
Cartel will discuss whether to maintain its oil production cut of 1.2 million bbl/d.
Cartel members concerned about price slides stemming from trade disputes.
Volume of LNG at Venture’s Plaquemines terminal will increase by 1.5 mtpa.