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Gas Shortage should be over within 48 hours


Ferret

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10 minutes ago, AlanMexicali said:

That is only a half truth. Mexico also has light crude oil and refines it in Mexico to produce gasoline. The reason Pemex is importing less is because they don't need as much now.

https://www.ogj.com/articles/print/volume-98/issue-20/processing/guide-to-world-crudes.html

 

Your link has nothing to do with your post. Here is that link in part:

"As fuel shortage continues, data reveals gasoline imports significantly reduced

 

Mexico imported 45% less gasoline from the US in the first 10 days of January compared to last year
Saturday, January 12, 2019

Mexico has significantly reduced gasoline imports from the United States since Andrés Manuel López Obrador was sworn in as president on December 1, according to a United States research firm.

The period in which they were cut back partially coincides with the current widespread fuel shortage that the government has explained is the result of López Obrador’s decision to close several major petroleum pipelines as part of the strategy to combat fuel theft.

A report published yesterday by The Wall Street Journal (WSJ) cited data from Houston and New York-based ClipperData which shows that under the new government, seaborne gasoline imports from the United States’ Gulf Coast have averaged around 350,000 barrels a day."

You didn't read down to this paragraph?  The situation has also “raised questions about the new administration’s reversal of steps taken by the previous government to begin importing light crude, necessary for mixing with Mexico’s heavy Maya crude at refineries to produce gasoline.” that is in paragraph 14 of this article

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I already read and commented on YOUR link geeser… at the bottom of the first page of this thread. I wanted to read the link that AlanMexicali posted (ogj.com) that required me to register even though the article was old and outdated. Wow. An article from 2000 when there were hardly any new cars on the road in Mexico and most of them were VW bugs. How could it possibly be relevant in 2018? Still have to read it to be able to comment.

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http://www.onecypressenergy.com/2018/11/27/mexican-tea-leaves-2019/

This article, although long, is informative. It appears the pie in the sky Morena Party promises might just have to be that  because of the reality of finances prohibits them from doing a makeover of Pemex and the volume of oil exports and imports already in place.

 

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1 hour ago, Ferret said:

I already read and commented on YOUR link geeser… at the bottom of the first page of this thread. I wanted to read the link that AlanMexicali posted (ogj.com) that required me to register even though the article was old and outdated. Wow. An article from 2000 when there were hardly any new cars on the road in Mexico and most of them were VW bugs. How could it possibly be relevant in 2018? Still have to read it to be able to comment.

The link is old granted but stating light crude oil is necessary in Mexico to refine all Mexican oil to get gasoline is a half truth. The heavy Maya crude is exported and refined here in Mexico into lubricants and other oil based products and mixed with imported light crude to be refined into gas. The Mexican light crude is refined into gas. The importation of light crude was down 45 percent this month from last January as was the importation of gasoline because the supply depots are full and there are 6 tankers off shore ready to unload when the supply depots ship enough product by truck and train. So of course they cancelled ordering light crude. The Morena Party talked about not importing light crude - not exporting as much  heavy  Maya crude which is very profitable for Pemex and a variety of other non feasible plans explained in the article I posted in my post above this one like refurbishing the 6 refineries and building a new very expensive one in Tabasco with taxpayers money while they are financially unrealistic but still haven't any plans in place so far except closing down the bidding on the 100 Pemex auctions that were coming up and closing the pipelines and arranging for 45 more tanker delivery trucks.

This, again a long, article below explains the Pemex auction of contracts that took place and probably benefited some of the billionaires of Mexico to enrich themselves greatly when buying Gulf petroleum platforms or partnering with Pemex or leasing their platforms to Pemex or selling them to foreign shell companies etc.. with tax evasion of their huge profits after been awarded their bid in a closed bid situation.

 

https://www.google.com.mx/amp/s/www.proceso.com.mx/510238/calderon-pena-pemex-ento-plataformas-dos-mil-838-mdd-a-empresa-hechiza/amp

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6 hours ago, mattoleriver said:

Well, there's your problem your contractor was only capable of doing a half-vast job.

Nice pun. But I love how people make assumptions. I didn't have a contractor- I ran the job myself with a crew of workers. That's why I handled ordering the materials.

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18 hours ago, AlanMexicali said:

probably benefited some of the billionaires of Mexico to enrich themselves greatly when buying Gulf petroleum platforms or partnering with Pemex or leasing their platforms to Pemex or selling them to foreign shell companies etc.. with tax evasion of their huge profits after been awarded their bid in a closed bid situation.

 

https://www.google.com.mx/amp/s/www.proceso.com.mx/510238/calderon-pena-pemex-ento-plataformas-dos-mil-838-mdd-a-empresa-hechiza/amp

I don't know about that - 20% of gross revenue on verifiable output is pretty great deal in any business I know of.

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21 minutes ago, CHILLIN said:

I don't know about that - 20% of gross revenue on verifiable output is pretty great deal in any business I know of.

The article you are commenting on I posted a link to in an above post of mine is translated by Google Translator below:
 
"With Calderón and Peña, Pemex rented platforms for two thousand 838 million dollars to company "enchanting"
 
BY MATHIEU TOURLIERE, NOVEMBER 8, 2017 # PARADISEPAPERS
 
MEXICO CITY (APR) .- In a decade, the company Sea Dragon de México became one of the main leasing companies of drilling platforms in ultra-deep waters for Pemex; the six contracts he obtained during the administrations of Felipe Calderón and Enrique Peña Nieto totaled 2 thousand 838 million dollars.
 
The paradox is that Sea Dragon of Mexico never had one of these platforms: from the beginning, it was designed as an empty shell, whose sole function was limited to subleasing to Pemex platforms that she herself rented to paper companies incorporated in tax havens.
 
Founded by José Farrera Redondo, a PAN entrepreneur based in Campeche and a member of Felipe Calderón's political circle, the company was always the last link in complex offshore structures.
 
Over the last ten years, the company has changed ownership three times: first it belonged to a British investor society established in the Cayman Islands, then it went into the hands of the Lloyds bank in London, and finally it ended up on the billboard. Companies from Seadrill Limited, the giant deepwater drilling firm founded by Norwegians in the tax haven of Bermuda.
 
During all this time, Appleby, the firm specializing in offshore services based in Bermudas, closely followed the movements and rearrangements of the Mexican company in the various schemes that included it. Moreover, he participated in each one of them, since many of the actors involved in these structures -including Seadrill- were his clients.
 
Seadrill created the SeaMex Ltd. company in Bermuda in February 2014, together with Fintech, the investment fund of the Mexican millionaire David Martínez. SeaMex Ltd is a paper company that operates the five platforms that Pemex rented to Sea Dragon of Mexico in 2014, through five contracts awarded by direct award in February and November.
 
In that period, Emilio Lozoya Austin served as CEO of the oil company. In March 2014, during an appearance before the Energy and Environment Commissions of the Chamber of Deputies, the PAN party questioned the then federal official about the decision of Pemex not to go through a public bidding process.
 
"In the world market there are no jack-ups available," Lozoya defended himself, whom former senior executives of the Brazilian company Odebrecht pointed out for receiving millionaire bribes, first as international coordinator of the presidential campaign ofEnrique Peña Nieto, and then as CEO of Pemex Bribes, Brazilian executives said, were granted through offshore companies and in exchange for public works contracts.
 
Appleby in the exploitation of hydrocarbons
 
Internal documents from Appleby, leaked to the German newspaper Süddeutsche Zeitung and shared with the International Consortium of Investigative Journalists (ICIJ) and 97 allied media - including Processes - show that, in the offshore system, the exploitation of Hydrocarbons ceased to be a matter of engineers and geologists.
 
There reign financiers and bankers, guided by the returns of capital, which go to tax havens to maximize their profits. And for that, they hire tax offices and international elite accounting firms. Appleby designed offshore structures for its clients interested in the lucrative Mexican oil business, according to the documents.
 
Advised, for example, the investment fund EnCap Investments L.P. -Incorporated in the Cayman Islands- in the creation of Sierra Oil & Gas, the first company with foreign capital that won tenders in Round One for the operation of oil fields in Mexico.
 
The firm also participated in the preparation of financing agreements for platforms that were leased to Pemex through offshore companies, such as the Menadrill I platform -which caught fire in March 2014- or the Iolair platform -which belongs to a Luxembourg company. and that the Mexican company Cotemar sub-rented Pemex-; He also participated in the registration in Bermudas of Nabors Drilling International II Limited, a subsidiary of the US group Nabors destined to enter into contracts with Pemex.
 
Appleby also incorporated a network of three entities in Bermuda for the company Constructora y Perforadora Latina. These companies became the legal owners of oil platforms, two of which - Santa Maria and Covadonga - were rented to Pemex for the period 2014-2020, for a total amount of 760 million dollars, by direct award.
 
The "Scorpion Project"
 
Sea Dragon of Mexico obtained its first contract on June 20, 2007. It was one of the first that Pemex granted for the exploitation of oil in the ultra-deep waters of the Gulf of Mexico, for a price of around 958 million dollars. The contract stated that the platform would go into operation on March 31, 2010 at the latest, for a daily rent of 555 thousand dollars and with a duration of five years.
 
On June 20, Pemex granted another multimillion-dollar contract to Grupo R and its subsidiary, Industrial Perforadora de Campeche, owned by José Ramiro Garza Cantú. In the document, the parastatal committed to rent a platform of drilling in ultra-deep waters."
 
To continue.
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36 minutes ago, CHILLIN said:

I don't know about that - 20% of gross revenue on verifiable output is pretty great deal in any business I know of.

Continued translation:

" It was the Bicentennial platform, which also went through a complex international scheme to reach Pemex - involving operations in Seychelles, Belgium, Madeira, Singapore and Panama - which was designed by the Mossack Fonseca law firm, as revealed by Proceso in the global Panama Papers research, published in April of last year.
 

At that time, Sea Dragon of Mexico had just two months of existence: José Farrera Redondo incorporated it on April 14, 2007 in the Public Registry of Property of Campeche, after Pemex even published in the Official Gazette of the Federation to the public tender for the platform's rent.
 
On June 8, Farrera sold the shares of Sea Dragon of Mexico to the companies SeaDragon Offshore Limited and SeaDragon Consulting Ltd., the first incorporated in the Cayman Islands, the second in England, and both operated by British financiers Stephen AlexanderBaird and Matthew Alexander Thompson.
 
None of these companies had formal experience in the energy sector, and even then, Sea Dragon of Mexico won the contract.
 
Farrera is an entrepreneur of Chiapas origin, contractor of Pemex during the PAN administration and husband of the current federal deputy Rocío Matesanz Santamaría, also of the PAN, who was part of the first.
 
Matesanz was also a contractor for Pemex through the company Tecnogolfo, S.A. of C.V., and was close to Mario Ávila Lizárraga, formerly director of logistics maintenance of the Coordination of Maritime Services of Pemex Exploration and Production (PEP), as reported by Proceso in November 2013.
 
With the Pemex contract in hand, SeaDragon Offshore Limited, then owner of Sea Dragon of Mexico, was able to get some loans from Lloyds Bank in London - one for 85 million and another for 34 million dollars - that allowed her to continue construction of two oil platforms, whose helmets were being assembled in the shipyards of the company Sevmash, in Russia.
 
In parallel, British financiers tried to sell the "offshore package" of SeaDragon Offshore Limited in the international financial system. That package contained three Cayman Islands companies - two of them were the respective owners of oil platforms Oban B and Gander, which were still under construction - a contract with Pemex, two companies incorporated in the United Kingdom and one in Mexico.
 
Being incorporated in the Cayman Islands, the mother company, SeaDragon Offshore Limited, and the two companies owning the platforms were guaranteed not to pay taxes on capital or their profits, and this at least until 2026, according to an analysis internal Appleby.
 
In these months, the price of a barrel of oil was around 138 dollars. The offer seduced several investors and the Indian company Great Offshore Limited was one of them. In the summer of 2007, he hired Appleby and other accounting firms to complete the business,initially scheduled for early 2008. The Bermuda firm named the business "Project Scorpion".
 
The plan was as follows: the buyer would inject money to complete the construction of the platforms in the Teesside shipyard in Scotland on time, and the brand new West Pegasus platform - then called Oban B - registered with a Bahamas flag, would enter operations for Pemex in March 2010, as stipulated in the contract.
 
But it did not go as planned. The global financial crisis erupted, the Indian company suffered a dramatic loss of liquidity and the sale did not proceed. The British government, for its part, injected 47 billion dollars of public money to various banks - including Lloyds Bank - to avoid the collapse of the country's financial sector.
 
In January 2009, SeaDragon Offshore Limited decided to complete the platforms at the Jurong shipyard in Singapore. This caused a scandal in Great Britain: Sectors of the population were outraged that Lloyds, the bank that supported the project with public money, has sacrificed the hundreds of jobs that involved the construction of the platforms in the Scottish shipyards of Teesside.
 
Six months later, in June 2009, Lloyds Bank, which had loaned more than 100 million dollars for the construction of the platforms, took control of SeaDragon Offshore Limited - and with it, of Sea Dragon of Mexico.
 
The bank tried, in turn, to sell the package. By the end of 2010, the oil market had recovered, and the Norwegian investment company Aker Asa sent Appleby an email in which it expressed interest in buying offshore companies, since there was a "more than a billion" business behind it. of dollars".
 
It was unsuccessful: in January 2011, Seadrill was made of SeaDragon Offshore Limited for a price evaluated in one thousand 200 million dollars, and moved the entire offshore structure of the Cayman Islands to Bermuda.
 
They delivered the West Pegasus platform to Pemex in August 2011, with a delay of one and a half years, for which he paid a fine of 25.5 million dollars. But this did not matter much: the giant had made his first step in Mexico."
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