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Renaissance Oil Corp. RNSFF

Renaissance Oil Corp is engaged in the acquisition, development, and production of oil and natural gas in Mexico. The group's properties include Mundo Nuevo, Topen, Malva, and Ponton.


GREY:RNSFF - Post by User

Post by Anomalloyon Mar 11, 2020 6:11pm
91 Views
Post# 30795930

The pressure is on AMLO

The pressure is on AMLO

" A dramatic drop in oil prices and a depreciation of Mexican currency are extreme conditions that call for a change in the strategy of President Lpez Obrador's administration in the energy sector, sources said Monday.

https://www.spglobal.com/platts/en/market-insights/latest-news/oil/031020-crude-price-crisis-calls-for-shift-in-mexicos-energy-strategy
  Joint venture contracts known as farm-outs are among the easiest, quickest ways to not only keep the finances of Pemex, the state-owned oil firm, afloat, but also to reach the desired crude production the government wants....
   Pemex contributes to around 17% of the government's annual budget.
Mexico announced in January it had secured a hedge for an undisclosed portion of its exports at a price of $49/b, the same as estimated in the federal 2020 budget, in what is considered the largest oil hedge among Wall Street banks."

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