Mexico

WHAT'S NEXT?: Mexico's economy and status with the U.S. faces uncertain times as a result of Donald Trump's recent election as America's next president. The impacts of Donald Trump's pre-election threats are already being felt by Mexico's economy and may have unforeseen consequences for both nations.

[New] U.S. said that U.S. production shut-ins will reach at least 2 million barrels a day in June, including natural gas liquids, with Permian-focused producers in West Texas and New Mexico driving 42% of the curtailments expected.
[New] After the World Bank predicted a 20% drop in global remittances this year, remittances sent to Mexico increased 36% in March reaching a record $4 billion.
[New] Pemex can continue marketing ULSD only in Mexico City, Guadalajara and Monterrey - Mexico's three largest cities, and on the northern border with the United States until the end of 2024.
[New] Projected to be at least four times more energy efficient than Sierra, El Capitan is expected to go into production by late 2023, servicing the needs of NNSA's Tri-Laboratory community: Lawrence Livermore National Laboratory, Los Alamos National Laboratory and Sandia National Laboratories.
[New] Researchers at the Department of Energy's Joint BioEnergy Institute and Lawrence Berkeley National Laboratory (Berkeley Lab) have discovered a new enzyme that will enable microbial production of a renewable alternative to petroleum-based toluene.
[New] A technique developed by Rice University and Los Alamos National Laboratory will allow researchers to quickly probe atom-thick materials to measure hydrogen production.
[New] A simplified catalyst production process developed by Oak Ridge National Laboratory could double the output of high-value chemicals used in making materials found in soda bottles and tires.
[New] Scientists at the Institute of Chemistry of Chinese Academy of Sciences and the US Department of Energy's Brookhaven National Laboratory have designed a new type of cathode that could make the mass production of sodium batteries more feasible.
[New] The transition from laboratory experiments to industrial scale production of biofuels made from algae will happen within 10 years.
[New] Scientists at the Department of Energy's SLAC National Accelerator Laboratory and Stanford University have created a small device for hydrogen peroxide production that could be powered by renewable energy sources.
[New] Production run spot checks of materials for lithium-ion batteries and fuel cells could be a thing of the past because of a process developed at Oak Ridge National Laboratory.
[New] Some automated processes will provide even more productivity gains and health benefits beyond central laboratory automation.
Uncertainty over the policies of Mexican President Andres Manuel Lopez Obrador will continue to hurt investment and impact on the industry's growth this year.
Some experts estimate that the United States, Mexico, and Canada represent 20% of global oil and gas supply, as well as 20% -25% of the expected additions to international supply over the next 25 years.
The Bank of Mexico had room to cut the monetary policy rate and predicted a rate of 4.25% by the end of the year.
The International Monetary Fund (IMF) predicts a Mexico contraction of 6.6% this year - the second worst in Latin America behind imploding Venezuela.
Already in a recession, the International Monetary Fund (IMF) expects Mexico's gross domestic product (GDP) to contract by 6.6% in 2020, second worst in Latin America behind only Venezuela.
Growth of 3% is anticipated for turkey exports next year, supported by strength in shipments to Mexico - the largest buyer of U.S. turkey meat - with continued low turkey prices expected to draw additional international buying interest.
Although 2020 growth may well outperform last year's, with Mexico's oil output expected to be stronger and construction experiencing a recovery there will not be a return to the growth rates of recent years.
Consumers in Argentina, Brazil, Chile, Colombia, Mexico, and Peru will spend $129 billion online by 2023, representing a compound annual growth rate of 22.3% from 2018.
U.S. liquefied natural gas (LNG) and pipeline exports will still hit fresh records in coming years as more LNG export plants and pipelines to Mexico enter service.

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Last updated: 02 June 2020