Category: Highlights

Mexico’s energy system relies heavily on U.S. natural gas and this could lead to price increases and supply shortfalls if the United States focuses more on the liquefied natural gas (LNG) export market, according to analysts at Fitch Ratings Inc. If the U.S. increases gas exports to Europe as a result of Russia’s invasion of Ukraine, “Mexico could face high gas prices and shortages,” said Velia Valdes, an associate director in Latin America Corporates. She spoke during a webinar Fitch organized on the Mexican energy sector. So far, the Russia-Ukraine…

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Oil at $150 a barrel is not “outside the realm” of possibilities, says one energy trader. “It’s hard to take anything off the table right now. Russia is starting to retaliate with its own response to U.S. sanctions, whether that’s demanding payments in rubles or potentially not allowing crude to flow through a very prominent pipeline through Kazakhstan,” Rebecca Babin, senior equity trader for CIBC Private Wealth, told Yahoo Finance Live. “As we’ve seen this escalate in ways that were very low probabilities when we started, and having these tangential impacts…

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International chemicals giant Linde has joined a host of Western oil producers, oilfield service providers and technology players in exiting Russia following the country’s invasion of Ukraine, putting in doubt Moscow’sambitions of becoming a major global exporter of liquified natural gas by 2030. As a member of a consortium with Technip Energies and Russia’s Nipigazpererabotka, Linde is a key partner underpinning a multi-billion dollar engineering, procurement and construction contract for the Arctic LNG 2 export project led by Novatek, Russia’s largest independent gas producer. In a statement placed on a…

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The International Monetary Fund (IMF) is not convinced with the government’s justifications for a recently announced amnesty scheme and has doubts over the financial impact and financing sources of the prime minister’s relief package on electricity and petroleum prices. As a result, the Fund’s mission and the government authorities are unlikely to conclude the ongoing seventh review of the $6 billion Extended Fund Facility (EFF) shortly and may lead to the disbursement of about $1.9bn worth of two tranches close to the federal budget due in June, depending on the outcome of…

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Oil rose towards $116 a barrel on Tuesday, adding to a 7% surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities. European Union foreign ministers are split on whether to join the United States in banning Russian oil. Some countries, including Germany, say the bloc is too dependent on Russia’s fossil fuels to withstand such a step.   “It is still not clear whether this will really happen,” wrote Carsten Fritsch of Commerzbank in…

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