American mutual funds are scouring Europe for bargains, snapping up Dutch oil drillers, French drugmakers and Swiss food producers on speculation the region’s rally is just beginning as the U.S. bull market ages.
Mexico’s monopoly over its $95 billion per year oil industry is poised to end after senators from the nation’s two biggest political parties agreed to allow output sharing contracts and licenses for outside producers.
Senators from Mexico’s two biggest political parties proposed a bill to break the nation’s 75-year oil monopoly by amending the constitution to allow production sharing contracts and licenses for outside producers.
Royal Dutch Shell Plc, Europe’s biggest oil company, halted plans to build a $20 billion gas-to- liquids plant in Louisiana, citing the potential cost and uncertainty about future crude and natural gas prices.
Citgo Petroleum Corp. will try to restart the vacuum section of a crude unit at its Lemont refinery in mid-January that was shut after an October fire, according to a person familiar with the progress of repairs.