Bloomberg Mexico’s state-owned oil company is taking deepwater development off its plate for now. Driven to rip $5.5 billion out of its budget this year to cope with a lengthening market downturn, it makes sense that Petroleos Mexicanos would look first to its riskiest and most expensive operations. The company reported its 13th quarterly loss, bringing its total losses for ...

BLOOMBERG Brazil’s economic and political crises are proving to be a boon to one of the nation’s most embattled sectors: ethanol producers. Drivers, who used to switch between ethanol and gas depending on the price gap, are now just going for the cheaper, less-efficient ethanol as they try to cut short-term spending amid a battle with inflation as high as ...

Bloomberg With liquidity in the Gulf Cooperation Council (GCC) region falling and economic growth cooling, companies want to maximise the efficiency of their cashflow and working capital finance. They are starting to look for more complex instruments, driving change in the banking sector. Traditionally, firms sourcing supplies from abroad simply used letters of credit (LCs). The LC then allowed the ...