In what is becoming a regular occurrence in that company, Mexican state-owned oil company PEMEX experienced another deadly explosion, this time in one of its petrochemical plants:
Four more people have been found dead after last week’s explosion at a petrochemical plant in southeastern Mexico, raising the death toll to 32, state oil giant Pemex and Mexican plastic pipe maker Mexichem said in a joint statement on Sunday.
The vinyl petrochemical plant in the Gulf coast state of Veracruz is a joint venture between Pemex’s petrochemical unit and majority owner Mexichem.
Pemex’s CEO has said that last week’s blast was caused by a leak but he did not how the leak had happened exactly.
It was the latest in a series of fatal accidents at the company.
Mexicans continue to be happy to pay this steep price to keep the company from reforming and letting “imperialist” foreigners in. I wrote about the shambles that is PEMEX here.
Total’s Patrick Pouyanne once again takes time off from being CEO and confusing me over his company’s strategy to play blogger on LinkedIn, this time informing us which countries will be the key energy players in the future. Lord only knows why Pouyanne feels the need to write articles telling us what is widely known and is adequately covered by dozens of other energy-focussed websites, blogs, and publications, but then I’ve always suspected he isn’t entirely sure what a CEO’s job entails. Key quote:
While the profitability of offshore wind farms is still somewhat in question, notably because of the huge maintenance costs involved, onshore wind energy is now profitable without subsidies. Total has tested onshore wind power a few times in the past and intends to take a second look to see if this is an area in which it wants to invest.
So Total is shifting away from fossil fuels and seriously looking at wind farms. Let’s see how that works out. The following picture accompanies the article, no doubt to reinforce the point that Total takes diversity hiring very seriously:
14 women out of 25 people, 9 ethnic minorities, and 4 who look old enough to remember the last oil crash. How many of these, do you suppose, are diverse enough in opinions to speak out against management-driven stupidity?
One would expect that all the majors are facing the same problems.
This graph has been doing the rounds of social medial, comparing the crude oil production cost of various countries:
Those at the very top are probably okay because their economies are diverse enough to withstand a drop in oil production, although Norway might need to scale back its umpteen social welfare programs a bit. Those near the bottom are probably okay because oil isn’t likely to stay rock-bottom for very long. But those in the middle – particularly Angola and Nigeria – are pretty fucked. I don’t know whether this graph represents the technical cost of oil production, or whether it includes the additional costs that come with doing business in these sort of countries. In any case, these costs will almost certainly be under-represented in any calculation, and will likely only increase.