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After years of low oil prices and reduced offshore activity, the Trump administration has given the oil industry a boost, offering proposals for a massive drilling plan and a rollback of Obama-era regulations.
Low oil and gas prices are continuing to restrict the petroleum industry’s development of exploration and production infrastructure, but the need to deliver affordable liquefied natural gas (LNG) and other fuels to economic centers will boost prospects for pipeline and other distribution infrastructure investments in Asia and other regions.
Believed to be the largest greenfield job in Latin America as well as the biggest private-sector investment in Mexico, the $5.2-billion Etileno XXI petrochemical complex was designed to produce more than 1 million tons per year of polyethylene resins to boost Mexico’s global trade balance and its tax revenue from thermoplastics.
The Obama administration wants to cut methane emissions from energy production on federally owned lands by requiring oil and natural-gas companies to limit flaring at wells and take steps to reduce leaks.
