Mexico detains gang accused of $2.2 mln in monthly crude oil theft

September 30, 2014

09/29/14 Reuters

energy - oil barrelsMexico arrested five members of a gang suspected of stealing more than 4 million liters (25,200 barrels) of crude oil per month, the government said on Monday, which amounts to at least $2.2 million at current Mexican crude prices. Tomas Zeron, head of the attorney general’s criminal investigations unit, told reporters that among the detainees is the gang’s leader, a businessman in the state of Guanajuato who held a 2011 gasoline distribution concession from state oil company Pemex.

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Shell’s Experience in Mexico Could Help It Make a Deal in Gulf

September 29, 2014

09/26/14 The Wall Street Journal

Oil barrelsMexico’s energy overhaul will soon open up the abundant oil and gas lying beneath very deep waters in its side of the Gulf of Mexico, and few international companies are better positioned to grab the opportunity than Royal Dutch Shell.  It has been doing business in Mexico for decades, and has a 20-year partnership with Pemex, Mexico’s national oil company, in a refinery near Houston.

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Mexico speeds up energy auctions

September 29, 2014

09/26/14 Financial Times

shutterstock_102739391Mexico is accelerating the bidding process for the historic opening-up of its energy sector, and expects to unveil the fiscal terms in November and award the first contracts in April or early May next year. The expedited timetable, announced to a packed room of international oil company executives at an energy conference in Cancún, is a further market-friendly sign from Mexico as it seeks billions of dollars of investment in a sector locked under state control for nearly eight decades.

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Oil companies eye Mexico’s ‘sweet shop’

September 29, 2014

09/26/14 Financial Times

energy - oil barrelsMexico is “like a sweet shop in the oil business”, according to one executive, and international energy companies are eyeing the goodies it offers as they wait for technical and fiscal details to work out how much they can splurge. Mexico is accelerating the bidding process in the reform of its energy sector. It expects to announce fiscal terms in November and to award the first contracts – for shallow water fields – in late April-early May. Deep-water fields will be awarded in September-October 2015.

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Japan’s Mitsui sells 25 percent stake in Arizona copper mine to Grupo Mexico

September 25, 2014

09/25/14 Reuters

mineJapanese trading house Mitsui & Co Ltd (8031.T) said it had sold its 25 percent stake in Silver Bell Mining to a unit of Grupo Mexico (GMEXICOB.MX) that already owns the remaining 75 percent in the operator of Silver Bell copper mine in Arizona. The sale comes as part of Mitsui’s three-year business plan, mapped out in May, to sell off 700-900 billion yen ($6.4-8.2 billion) of assets by March 2017 to fund investment plans and seek returns to shareholders. “After examining our global assets, we’ve decided to sell some assets which are not among our top priority list,” a Mitsui spokesman said on Thursday.

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Mexico Plans Roadshow to Promote Oil Bidding Round

September 25, 2014

09/24/14 The Wall Street Journal

energy- oil pumps 2Mexico’s government is starting meetings this week with local and foreign investors to promote the country’s first public oil tenders after opening its state-run energy sector to competition. Top officials of the Energy Ministry are expected to meet Thursday with Mexican companies interested in participating at an event organized by the main business group CCE, said Lourdes Melgar, deputy minister for hydrocarbons, in an interview with The Wall Street Journal.

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How Mexico’s cartel crackdown smashed its iron industry

September 24, 2014

09/23/14 CNBC 

mineIron ore lies abandoned in titanic piles like a gray lunar landscape amid these green hills. Government security forces descended on an open-pit mine here in July to shut it down and confiscate hundreds of tons of raw metal. The reason? The mine was operated by the bloodthirsty Knights Templar cartel, which has diversified from cooking crystal meth to a range of rackets. It was not the only narco mine. Since soldiers and marines flooded Michoacan in January to fight the Knights Templar, they have helped shutter more than 100 pits of iron, copper and other metals. In total, a whopping 700,000 tons of minerals have been confiscated and are piled up in mounds like this.

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