Motiva Enterprises LLC (“Motiva”) is a joint venture between Royal Dutch Shell PLC (“Shell”) and Saudi Arabian Oil Company (“Saudi Aramco”), through its subsidiary, Saudi Refining Inc.1 The joint venture was formed in 1998 and became a 50/50 joint venture between Saudi Aramco and Shell in 2002 when Chevron Corp. exited the venture as part…
Tag: Oil & Gas
Investment Opportunities in Mexico’s Denationalized Energy Industry
In December 2013, Mexico passed Constitutional amendments to reopen its energy industry after decades of protectionism and stagnation.1 Ernst & Young estimated in 2014 that total investments in Mexico with objectives to increase production, to improve the midstream network, and to promote energy sustainability would cost between US$35 billion and US$100 billion over a…
Exxon Mobil and the SEC Oil and Gas Asset Reporting Standards
On September 20, 2016, the Wall Street Journal reported that the U.S. Securities and Exchange Commission (SEC) is investigating Exxon Mobil Corporation’s asset valuation.1 The probe focuses on Exxon’s asset valuations in light of climate change regulations.2 As part of the probe, the SEC is investigating Exxon’s tradition of not writing down its reserves during…