Pemex discovers new billion-barrel oil field in Tabasco By Amy Stillman on 3/15/2021
AMLO visits a Pemex facility
MEXICO CITY (Bloomberg) Petroleos Mexicanos discovered whatâs expected to be a billion-barrel oil field in Tabasco as it aims to reverse a decade and a half of sinking production.
The new field at the southern part of the Gulf of Mexico, when combined with nearby deposits, is similar in size to other billion-barrel discoveries, Pemex CEO Octavio Romero Oropeza said in an interview with Jenaro Villamil, head of Mexicoâs state-owned broadcasting system, on Sunday night.
âItâs a gigantic field,â said Romero, comparing it to the recently discovered gas and condensate fields Quesqui, with 900 million barrels of oil equivalent, as well as Ixachi, with 1.9 billion. He said that Pemex will provide more details about the discovery on March 18, the nationally celebrated anniversary of Mexicoâs 1930s expropriation
Pemex Offshore Discovery Could Hold 1B Barrels
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GGRAsia – NagaCorp posts US$102mln profit in 2020 despite pandemic
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Wells Fargo unit sale hailed as opportunity
Nicolaas Marais said the money management unit needs investment to thrive.
Wells Fargo Asset Management s new private equity owners may be just what the business needs to help it achieve scale and compete in the $1 trillion AUM club, industry players say.
Parent company Wells Fargo & Co. announced Feb. 23 it was selling its money management business with $603 billion in assets under management in a $2.1 billion deal to private equity firms GTCR LLC and Reverence Capital Partners. The split between the two firms was not disclosed. The deal followed months of speculation over whether the unit would be sold and to whom, with Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. previously named as potential suitors.