Total Joins Chevron in Gulf of Mexico Development

9/24/2017 Financial Tribune

French Total has expanded its presence in the Gulf of Mexico by closing a farm-in agreement with Chevron for the development of seven prospects covering 16 blocks in the deepwater section of the gulf.  The French company said the prospects it will develop are located in the Wilcox play in the central Gulf of Mexico, next to the Anchor discovery, and in the Norphlet area, close to the Appomattox discovery, Oil Price reported.

Total will take stakes of between 25-40% in the prospects, to add to its already existing interests in producing fields in the GOM: a 17-% stake in the Tahiti field, whose operator is again Chevron, and a 33.33% interest in the Chinook field, operated by Brazil’s Petrobras. The French major also holds 40% in the North Platte field, operated by Cobalt Energy.French Total has expanded its presence in the Gulf of Mexico by closing a farm-in agreement.

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Mexico and U.S. executives to share data to make case for free trade

12/8/2016 Reuters 

HE_Enrique_Peña_Nieto,_President_of_Mexico_(9085212846)Mexican and U.S. business leaders will share information on cross-border economic integration as they seek to build a case for free trade under the government of President-elect Donald Trump, a top industry group said on Wednesday.

Trump has threatened to renegotiate or withdraw from the North American Free Trade Agreement (NAFTA), prompting concern in Mexico about the future of the economy, trade and foreign investment.

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Giant Aluminum Stockpile Was Shipped From Mexico to Vietnam

Wall Street Journal 12/1/2016
sea tradeVUNG TAU, Vietnam—One of the world’s largest aluminum stockpiles, which until a few months ago was stored under hay and plastic tarp in a Mexican desert, has been moved to a remote port here in southern Vietnam.

Starting early this year, 500,000 metric tons of aluminum has been trucked out of the Mexican city of San José Iturbide and shipped to Vietnam, according to shipping records and people familiar with the matter. Much of it now sits under black tarps, guarded by baton-wielding men on motorcycles, at a factory and waterfront complex in this South China Sea port about a two-hour drive south of Ho Chi Minh City.

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U.S.-Mexico trade talks leave one top sugar company with sour taste

10/6/16 Reuters 

As the U.S. government reworks a supply deal with Mexico, a top player in one of the world’s largest sugar markets is crying foul and claims competitors are using the trade talks to deny it access to cheap Mexican sugar imports.

Mexico is the top supplier to the U.S. sugar industry and negotiators from both countries are in talks to change a 2014 trade pact that prescribes the balance of raw and refined sugar that heads north to ensure U.S. refiners have what they need.

But CSC Sugar LLC, which produces liquid sugar to sweeten ice cream and make frosted coatings, said the proposals would exclude it and others from the export quota allotted to Mexico.

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The Growing Influence of Latino Executives in Dallas-Fort Worth

09/2017 D Magazine

With its booming economy and business-friendly environment, companies—and workers—continue to flock to Texas. Nearly half of all new arrivals to the state are foreign-born, according to the Federal Reserve Bank of Dallas. The Fed took a look at the economic impact of immigration in its “Gone to Texas” research report, calling it both a cause and consequence of rapid regional growth.

Fifty-eight percent of the state’s immigrants hail from Mexico, followed by Asia and Central and South America. Beyond boosting local employment ranks, Latino immigrants are a growing entrepreneurial force. There are more than 70,000 Latino-owned businesses in North Texas, and they generate an estimated $10.7 billion in annual revenue, according to New York-based Stout Risius Ross Inc.

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Despite fears, Mexico’s manufacturing boom is lifting U.S. workers

08/21/2016 Los Angeles Times

ensamblaje.jpgEnrique Zarate, 19, had spent just a year in college when he landed an apprenticeship at a new BMW facility in San Luis Potosí, Mexico. If he performs well, in a year he’ll win a well-paid position, with benefits, working with robots at the company’s newest plant.

Within a decade or so, most of the BMW 3 series cars that Americans buy will probably come from Mexico, built by people like Zarate.

“When you start with such little experience, and get such a big salary, it’s unbelievable,” says Zarate, whose father is a taxi driver and whose mother is a housewife.

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Wal-Mart Sells Mexico Clothing Chain to Liverpool for $1 Billion

08/10/2016 Bloomberg

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Photo credit: Bloomberg

Wal-Mart Stores Inc.’s Mexican unit agreed to sell its Suburbia clothing chain to El Puerto de Liverpool SAB, Mexico’s biggest department store chain operator, in a deal valued at 19 billion pesos ($1.03 billion).

The transaction, which involved 119 stores, is subject to regulatory approval, Wal-Mart de Mexico SAB and Liverpool said in statements Wednesday after markets closed. Liverpool will pay 15.7 billion pesos, assume 1.4 billion pesos of debt and distribute an additional 3.3 billion pesos to shareholders after the deal is completed. As part of the deal, Liverpool will also pay rent to Walmex for all 34 store locations where Suburbia stores stand alongside Wal-Mart stores.

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