WorldOil OPEC plus or OPEC minus? Rosneft points to oil cartel in flux Since late 2016, the Organization of Petroleum Exporting Countries and other nations, including Russia, Kazakhstan and Mexico, have managed the oil market, giving birth to a group popularly known as OPEC+. McDermott awarded EPCI subsea tie-back contract for Pemex's Ayatsil field McDermott International, Inc. has announced a sizeable contract award by Pemex Exploración y Producción for subsea pipeline flowline installation in support of Ayatsil field, located 50 mi northwest of Ciudad del Carmen, in the Bay of Campeche, offshore Mexico. Petrofac sells interest in Mexico for $200 million Petrofac Limited has announced that it has signed an agreement to sell 49% of the Company’s operations in Mexico, including Santuario, Magallanes and Arenque, to Perenco (Oil and Gas) International Limited. Eni gets approval for development of discoveries in Mexico's offshore Area 1 Eni announces that Mexico’s National Hydrocarbon Commission (Comisión Nacional de Hidrocarburos, CNH) has approved the development plan for the discoveries of Amoca, Miztón and Tecoalli, located in Area 1 (Eni 100%), in the shallow waters of the Campeche Bay. Mexico's next president promises Pemex investment, names new CEO Mexico’s incoming president named a new chief executive officer for Pemex and promised government investment of 75 billion pesos ($4 billion) in the oil sector, in a bid to revive the state-owned oil company. ‘Bridge to Nowhere’ leaves pent-up Permian gas problems unsolved A major Mexican pipeline opened this week after almost two years of delays. That’s the good news for drillers across the border who are seeking an expanded market for natural gas siphoned from the pent-up Permian basin. Steel tariffs: A campaign promise the oil industry hoped Trump would not keep On March 1, U.S. President Donald Trump announced 25% tariffs on imported steel and aluminum. The EandP industry is telling Congress and the administration that this is a bad idea. The real question is “Why Was Anyone Surprised?” Mexico oil hedge expected to continue with president-elect, adviser says Mexico’s new government will probably continue hedging the country’s oil output in what is the world’s largest annual oil deal, according to an economic adviser to president-elect Andres Manuel Lopez Obrador. Mexico's oil reforms expected to slow down with new government The election of Mexico’s first left-wing president in recent decades is expected to slow the country’s march toward the creation of a private oil market, though not derail it. Pemex races ahead in hunt for partners as election approaches Petroleos Mexicanos is accelerating efforts to bring on partners before an election that could slow foreign investment in Mexico’s oil industry.