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ifyoucanttakeajoke


Feb 12, 2016, 12:21 PM

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Mexico oil hedging...

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Hey, Steve. Is Mexico still getting top dollar for it's heavy crude while the rest of the world is losing their shirts? Just wondering.



YucaLandia


Feb 12, 2016, 12:40 PM

Post #2 of 3 (6010 views)

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Re: [ifyoucanttakeajoke] Mexico oil hedging...

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 Back when 2015's oil prices moved up over $50 a bbl, Mexico made a series of hedge contract oil prices at $48 & $49 last summer (2015)... hedging Maya & Brent crude.

http://www.bloomberg.com/news/articles/2015-07-29/mexico-said-to-start-annual-oil-hedging-program-as-prices-drop
and
http://www.wsj.com/articles/mexico-hedges-2016-oil-exports-at-49-a-barrel-1440042509

These contracts have saved/gained Mexico roughly $6 billion USD in 2015 versus typical oil futures contract prices.

The $49 bbl hedged price continues through 2016, so Mexico's sweet investment gains should continue nicely through 2016, on at least 212 million bbls.

as American producers, Saudi's , Gulf States, Russia & Iran continue to increase production of their cheap ... big-$$-losing prices at $25 - $30 a bbl.

Happy Trails,
steve

If only Peña Nieto followed the Mexican economists & oil ministry's practical rational examples and good foresight.
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Read-on MacDuff
E-visit at http://yucalandia.com


YucaLandia


Feb 12, 2016, 12:51 PM

Post #3 of 3 (6007 views)

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Re: [YucaLandia] Mexico oil hedging...

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I mention EPN (Nieto), because he just recently replaced (fired) the head of this very-successful department - and plugged in one of his cronies.

Will EPN's guy try to 'fix what ain't broken' ... Will EPN's guy try to 'put his own stamp' on things ?

or will he let the current fine fine team continue to do good work ?

???
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Read-on MacDuff
E-visit at http://yucalandia.com

(This post was edited by YucaLandia on Feb 12, 2016, 12:53 PM)
 
 
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