Posts Tagged ‘Cantarell’

If We Can’t Get Oil from Mexico…

If We Can’t Get Oil from Mexico…

mexico - tbiCourtesy of Lawrence Delevingne at Clusterstock

This was originally posted at The Oil Drum, and has been reprinted under the Creative Commons Attribution-Share Alike 3.0 United States License.

*** 

The news from Mexico just continues to get worse with bad news from all three of their biggest oil fields, even as our perennial cornucopian talks of “a Mexican surprise.” As Gregor noted recently (h/t ft energysource) at the beginning of the year Cantarell was producing 862,000 bd and at the end of July this was down to 588,000 bd. The graph plotting decline continues to show a linear decent at the rate of 35,000 bd per month or roughly 100,000 bd every three months – giving it just 17-months at that rate (ending right at the end of next year) until there is nothing left. Somewhere in there the drop is likely to stabilize, but suddenly and soon the questions as to where the replacement hundreds of thousands of barrels are going to come from is going to stop being an almost academic exercise.

Mexico: Daily production from one-time super giant cantarell oilfield - tbi

The peak and decline of Cantarell – where Mexico once got most of its oil.

But they aren’t the only ones in trouble. Consider U.S. net imports from Mexico over the same period. That decline also looks pretty linear, with a projected intersection with zero in 2014, depending on where you draw the line.

 the oil drum, monthly us net imports from mexico
Net Imports From Mexico (EIA)

Mexico itself is not likely to be able to come up with much of an answer.

The President just changed the head of Petroleos Mexicanos (Pemex) as the revenues that the state gets from sale of its oil (making up nearly 40% of the federal budget) dropped 30% in the first half of the year. Current Mexican Government predictions that overall Mexican production will stabilize at 2.5 mbd over next year don’t reflect the collapse of Cantarell, and also fail to recognize that the promised increases in production from other fields are not reaching the goals set. It is only a few days since the production at Chicontepec was “evaluated” after falling some 12,000 bd short of target. This field is still in development, with ultimate production targeted at 550,000 to 700,000 bd by 2017, but as it is already 16%…
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Zero Hedge

US Regulators Warn Stablecoin Adoption Could Disrupt Economy, Financial Stability

Courtesy of ZeroHedge View original post here.

Authored by William Suberg via CoinTelegraph.com,

A panel of senior financial regulators in the United States has warned the public about the purported risks of stablecoins and cryptocurrencies

...



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Kimble Charting Solutions

Health Care & Merck Working A Bullish Breakouts!

Courtesy of Chris Kimble

Health Care (XLV) ETF has lagged the S&P for the past few years. Is the lagging trend about to end? It sure could and we should find out very soon!

This chart looks at the Health Care/S&P Ratio (XLV/SPY), which reflects that it has created a series of lower highs and lower lows inside of falling channel (1). Over the past 6-months the ratio has created a series of higher lows, reflecting out performance of XLV to the broad markets.

The ratio is testing a support/resistance line at (2). If the ratio breaks out at (2), it would suggest that health care stocks wi...



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Insider Scoop

CMA CGM Bolsters Its LNG Fuel Supply With Total Deal

Courtesy of Benzinga

CMA CGM said it signed a deal with France's largest energy firm to supply liquefied natural gas (LNG) to power container ships.

The fourth-largest global carrier by capacity, CMA CGM said the deal with Total's marine fuels division will cover LNG supply at the Marseille-Fos fueling hub in the Mediterranean. Terms were not disclosed.

Total will supply approximately 270,000 metric tons of LNG per year over the next 10 years. CMA CGM said it will be the volume needed for its 15,000 twenty-foot equivalen...



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Phil's Favorites

NATO meeting: solidarity reinforced despite uncomfortable time for alliance to be in the spotlight

 

NATO meeting: solidarity reinforced despite uncomfortable time for alliance to be in the spotlight

Courtesy of Megan Dee, University of Stirling

Anniversaries are meant to be a celebration. They represent a moment of reflection – a marker, a milestone, a time to look back. And therein lies their biggest problem. For anniversaries have that unfortunate effect of turning any subject – be it a past event, a married couple, or indeed an international institution – into an object of intense scrutiny. For the North Atlantic Treaty Organization (NATO) celebrating its 70th anniversary in London on December 3-4, that scrutiny has come at an unfortunate time.

Founded in 1949 with the signing of the Washington Treaty, NATO at 70 represents one the longest-standi...



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Digital Currencies

Chinese Crypto Exchange IDAX Locks Cold Wallet As CEO "Goes Missing"

Courtesy of ZeroHedge

By William Suberg via CoinTelegraph.com

Chinese cryptocurrency exchange IDAX has suspended deposits and withdrawals after its CEO allegedly disappeared.

In a blog post on Nov. 29, IDAX, which earlier this week warned it was seeing a run on withdrawals, said the whereabouts of Lei Guorong were currently unkno...



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Chart School

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Courtesy of Read the Ticker

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Comment:
FED has no ammo in the next crisis!


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YIP Corporate debt blows up when econ...



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Members' Corner

Sacha Baron Cohen Uses ADL Speech to Tear Apart Mark Zuckerberg and Facebook

 

Sacha Baron Cohen Uses ADL Speech to Tear Apart Mark Zuckerberg and Facebook

By Matt Wilstein

Excerpt:

Sacha Baron Cohen accepted the International Leadership Award at the Anti-Defamation League’s Never is Now summit on anti-Semitism and hate Thursday. And the comedian and actor used his keynote speech to single out the one Jewish-American who he believes is doing the most to facilitate “hate and violence” in America: Facebook founder and CEO Mark Zuckerberg.

He began with a joke at the Trump administration’s expense. “Thank you, ADL, for this recognition and your work in fighting racism, hate and bigotry,” Baron Cohen said, according to his prepared...



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Lee's Free Thinking

NY Department of Welfare Announces Increased Subsidies for Primary Dealers, Thank God!

 

NY Department of Welfare Announces Increased Subsidies for Primary Dealers, Thank God!

Courtesy of , Wall Street Examiner

Here’s today’s press release (11/14/19) from the NY Fed verbatim. They’ve announced that they will be making special holiday welfare payments to the Primary Dealers this Christmas season. I have highlighted the relevant text.

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has released the schedule of repurchase agreement (repo)...



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The Technical Traders

VIX Warns Of Imminent Market Correction

Courtesy of Technical Traders

The VIX is warning that a market peak may be setting up in the global markets and that investors should be cautious of the extremely low price in the VIX. These extremely low prices in the VIX are typically followed by some type of increased volatility in the markets.

The US Federal Reserve continues to push an easy money policy and has recently begun acquiring more dept allowing a deeper move towards a Quantitative Easing stance. This move, along with investor confidence in the US markets, has prompted early warning signs that the market has reached near extreme levels/peaks. 

Vix Value Drops Before Monthly Expiration

When the VIX falls to levels below 12~13, this typically v...



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Biotech

Why telling people with diabetes to use Walmart insulin can be dangerous advice

Reminder: We are available to chat with Members, comments are found below each post.

 

Why telling people with diabetes to use Walmart insulin can be dangerous advice

A vial of insulin. Prices for the drug, crucial for those with diabetes, have soared in recent years. Oleksandr Nagaiets/Shutterstock.com

Courtesy of Jeffrey Bennett, Vanderbilt University

About 7.4 million people ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

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