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Mexico, foreign firms set for landmark oil auction MEXICO CITY: Mexico holds on Wednesday the first oil auction of a historic energy reform that reopens the industry to foreign investors, with US, European and Asian firms jostling for contracts.Nearly 80 years after kicking foreign energy companies out of the country, the government is offering 14 blocks in shallow waters of the Gulf of Mexico worth an estimated $17 billion in total.The auction is the climax of President Enrique Pena Nieto's top economic reform, which was enacted last year after a heated debate in Congress, with leftist parties warning against giving up a symbol of national sovereignty.The daylong event could give Pena Nieto's administration a brief break from the embarrassing fallout of the weekend jailbreak of the country's most powerful drug lord, Joaquin "El Chapo" Guzman, his second escape in 14 years.While foreign firms have eagerly-awaited this moment, the government has played down expectations of a big sale, predicting ...

Oil prices lift after Chinese stocks rebound NEW YORK: Oil prices rose Thursday after a spate of losses, as a rebound in Chinese stocks somewhat eased concerns about financial turbulence in the world's biggest energy consumer.US benchmark West Texas Intermediate for August delivery advanced $1.13 to $52.78 a barrel, after falling 13 percent in five straight sessions.Brent North Sea crude for August, the global benchmark, finished at $58.61 a barrel, a gain of $1.56 from Wednesday's settlement."It's a better day," said Bart ...
Oil prices fall as Greece debt crisis talks drag on NEW YORK: Oil prices fell Thursday as traders kept an eye on Greece's prolonged negotiations with creditors to avoid a debt default and possible exit from the eurozone.US benchmark West Texas Intermediate for August delivery fell 57 cents to $59.70 a barrel.Brent North Sea crude for August, the global benchmark, closed at $63.49 a barrel in London, down 29 cents from Wednesday's settlement. "The Greece headlines continue to dominate the trade... and I think there ...
Crude down again on oil products weakness; Greece, Iran eyed NEW YORK: Crude oil fell for a second straight day on Thursday, weighed by weaker U.S. refined fuels markets and potential negative impact from Greece's debt crisis on European energy demand.Worries of a possible glut emerging in U.S. gasoline and diesel supply after large builds in both last week added to concerns that millions of barrels of Nigerian crude were floating around the Atlantic Basin looking for buyers.Brent crude settled down 29 cents, or 0.5 ...
Oil prices fall as US ouput remains at record highs NEW YORK: Oil prices fell Wednesday as the weekly US industry report showed domestic output still high and commercial fuel inventories generous.In New York US benchmark West Texas Intermediate for August delivery lost 74 cents at $60.27 a barrel in NYMEX trade.In London Brent crude for August dropped 96 cents to $63.49 a barrel.The weekly official US oil report showed domestic crude output edged up to a record 9.6 million barrels a day in the ...
Oil down on gasoline buildup fear; Greek debt worry NEW YORK: Crude oil futures fell for a second straight session on Monday on concerns that U.S. demand for gasoline may fade after a strong stretch and on worries about the potential fallout from the Greek debt crisis.The slide came despite data from market intelligence firm Genscape suggesting a big draw on the week on stockpiles at the Cushing, Oklahoma delivery point for U.S. crude futures.Gasoline fell almost 2 percent, retreating from last week's near ...
Brent edges up, US crude off low as Fed weakens dollar NEW YORK: Brent crude edged up and U.S. crude eased on Wednesday in volatile trading as both contracts trimmed losses after the Federal Reserve left the outlook for interest rate increases uncertain, brokers and analysts said.The Fed said the economy was likely strong enough to support an interest rate increase by the end of the year, although it lowered expectations for 2015 economic growth because of a weak start to the year."The Fed again cited ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln