Ex-official says Mexico may have to halt oil exports
"The U.S. could soon find itself scrambling to make up 11 percent in lost oil imports.
Mexico, the third-largest foreign supplier of U.S. oil, faces the real possibility of having to halt oil exports in four years, a former top Mexican energy official was reported as saying Tuesday in Mexico’s El Universal newspaper..."
Falling crude prices could slow deep-water drilling
"So far unscathed by plummeting oil prices, costly deep-water drilling projects in the Gulf of Mexico could soon become less attractive if crude prices continue falling, as they did again Tuesday.
Oil prices closed below $60 a barrel, a level widely considered to be near the break-even point for multibillion-dollar deep-water projects that have been a key driver of Houston’s energy economy in recent years.
If prices go lower still, oil companies could be forced to re-evaluate and possibly postpone deep-water projects, just as they have already done with less-costly land and shallow-water drilling plans, analysts said.
“At $50, they probably start canceling projects or slowing projects up,” said Eric Smith, associate director of the Tulane Energy Institute in New Orleans..."
No comments:
Post a Comment