Alberta Government Allowing Another 50 Mbbl/d in Production in May-June 2019; Bringing Total Allowable Volumes to 3.71 Mmbbl/d 3/19/2019

The Alberta government reported another easing of crude oil curtailments on the horizon. In May 2019, they will raise limits by 25 Mbbl/d and then they will mirror that in June 2019. Since the start of Government-mandated curtailments, Alberta has permitted 150 Mbbl/d in production increases since January 1, 2019. The June increase will bring allowable Canadian production to 3.71 MMbbl/d.

Mexico Invites International Firms to Bid on the Construction of Pemex's $8 Billion Oil Refinery in Tabasco, Mexico 3/19/2019

Mexico invited several international firms, including U.S. companies Bechtel, Jacobs Engineering, and KBR, to bid on the construction of Pemex's $8 billion oil refinery near the Dos Bocas port in Tabasco, Mexico. The facility will include 17 processing plants and 93 storage tanks and a processing capacity of 340 Mbbls/d of heavy crude. The facility is anticipated to be constructed within three years and will represent the first oil refinery to be built in Mexico in roughly four decades.