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Latin America - World

Pemex running loses with oil prices
down refuse to cut spending, production
Bloomberg

Mexico Refuses to Cut Oil Output and Is Running Up Huge Losses
- Big-spending Pemex stands out as regional peers slash outlays
- Other top regional producers are cutting spending and output

By Amy Stillman and Peter Millard/Bloomberg

MEXICO CITY/RIO
Petroleumworld 04 09 2020

Outside of Saudi Arabia and Russia, most oil producers are racing to deal with the historic oil price collapse by cutting back spending and in some cases production. But Mexico's national oil company is acting like the crash never happened.

Venezuela running empty as U.S. tells
firms to avoid supply gasoline
Manaure Quintero/Reuters

A doctor walks near a closed gas station during the nationwide quarantine due to the coronavirus
disease (COVID-19) outbreak, in Caracas, Venezuela April 7, 2020.
By Marianna Parraga, Luc Cohen, Matt Spetalnick/Reuters

MEXICO CITY/CARACAS/WASHINGTON
Petroleumworld 04 09 2020

Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only provide diesel, according to five people familiar with the situation.

INSIDE OIL: April 09, 2020

EIA SHORT-TERM ENERGY OUTLOOK: April 07, 2020

PW Days' View

Shannon O'Neil/Bloomberg: Coronavirus Is
Killing Lopez Obrador's Big Plans for Mexico

Carlos Becerra /Bloomberg

Doctors fear pandemic, AMLO austerity measures have cut millions out of health budgets, and
weakened the pandemic rapid response system set up in 2009 in the wake of H1N1 flu outbreak.

His “Fourth Transformation” is a victim of his failure to take the pandemic seriously.

PRICES
Petroleumworld.com

Real time prices by Bloomberg
Updated: Apr. 09, 2020 07:58 GMT

(Closing prices)

04/08	OPEC Basket	$21.19	-1.48
04/08	Mexico Basket (MME)	$17.89	+1.24
03/03	Venezuela Basket *	$13.74	-2.15
04/08	ICE Brent	$32.84	+0.97
04/08	NYMEX WTI	$25.09	+1.46
04/08	NYMEX Natural Gas	$1.783	-0.069
04/09	USD/MXN Mexican peso	24.0151	Live data
04/09	EUR/USD	1.0859	Live data
04/08	USD/Bs. (Bolivar)	117.000	Parallel Market

* Venezuelan basket average weekly price

TOP NEWS
Mexico's new ideology may trump the market in president's energy revamp
Mexico's Presidency

Mexico's President Andres Manuel Lopez Obrador attends the presentation of a plan to lift the economy
out of the coronavirus crisis at the National Palace in Mexico City, Mexico April 5, 2020.
By David Alire Garcia/Reuters

MEXICO CITY
Petroleumworld 04 08 2020

Guyana oil drilling with delays in ExxonMobil Payara's development
ExxonMobil

Exxon waits for government approval to proceed with a third production vessel for the Payara development
but some 2020 activities are now being deferred.

By Canute James /Argus

MEXICO CITY
Petroleumworld 04 08 2020

Petrobras sees crude, bunker fuel exports rising in May -CEO
Petrobras

Coronavirus pandemic makes OPEC 'irrelevant'
- Export volumes strong, but prices depressed
- China snapping up barrels as economy restarts

By Platts

RIO
Petroleumworld 04 07 2020

Venezuela on last drops of gasoline
Carlos Becerra/Bloomberg

Soldiers are protecting the last fumes of gasoline in Venezuela
- Free for Years, Gasoline is at $5.67 a gallon on black market
- Five weeks have passed since the state has imported any fuel

By Fabiola Zerpa/Bloomberg

CARACAS
Petroleumworld 04 07 2020

Mexico sticks to oil output, investment plans, oil price crash 'not permanent'
Reuters

Mexico's Energy Minister Rocio Nahle
By David Alire Garcia/Reuters

MEXICO CITY
Petroleumworld 04 06 2020

Virus threatens disaster in Venezuela while Trump pushing hard on Maduro

Bloomberg

Note: JHU CSSE reporting began on Jan. 22, when mainland China had already surpassed 500 cases.
Source: Johns Hopkins University Center for Systems Science and Engineering.

- Impact of Venezuela's coronavirus outbreak likely understated
- Country already had a shortage of hospital beds, virus kits

By David Wainer and Patricia Laya/Bloomberg

NEW YORK/CARACAS
Petroleumworld 04 06 2020

Crude rallies as Saudis call for 'urgent' OPEC+ meeting on output - Factbox

By Jeff Mower/Platts

NEW YORK
Petroleumworld 04 06 2020

Rosneft free of sanctions if Venezuela involvement ends: U.S. officials
Getty

The President of the United States, Donald Trump, asked his Russian counterpart Vladimir Putin on Monday,
to contribute to a "transition" in Venezuela after the Russian state oil company Rosneft ceased operations in that country.

Reporting by Luc Cohen/Reuters

NEW YORK /WASHINGTON
Petroleumworld 04 03 2020

Mexico's economy crashing 8% -Bank of America

Carlos Jasso/Reuters

Currently, 29 people have died and 1,215 patients have been infected with coronavirus in Mexico.
- Country forecast to eventually lose investment grade rating
- Bank of America sees 4.5% recovery in 2021 amid U.S. rebound

By Justin Villamil/Bloomberg

MEXICO CITY
Petroleumworld 04 03 2020

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