Cotemar and the Silent Mexican Oil Revolution

Mexico’s oil industry has been facing numerous challenges in the recent past owing partly to the sharp drop of oil prices. Consequently, the country is currently reorganizing and re-boosting the industry’s performance by reaching out to privately-owned oil companies. The revolution has been hardly noticeable, and at its center is an unlikely participant; Contemar.

 

About Cotemar

Cotemar was founded 37 years ago with the aim of providing support services for Mexico’s oil industry. The company provides services in three categories. For starters, it provides maintenance, construction, engineering, and modernization services for oil companies’ drilling centers and machinery. It also provides specialized and maritime support vessels to ease navigation in the deep sea off Mexico’s coast. Finally, it provides accommodation and catering services for its client companies’ workers; its accommodation vessels feature facilities such as gyms, TV rooms, and basketball courts. Cotemar has been one of Mexico’s fastest growing oil companies, and the current revolution is further elevating its position in the competitive industry.

 

A Tumultuous Industry

Mexico is not as dependent on its oil resources as it was in the 90s. Nevertheless, the challenges affecting the industry have had a considerable negative impact on its revenues; the country was forced to slash spending by about $10 billion in 2016. Additionally, it was forced to provide up to $4.4 billion in financial aid to the state-owned oil company Pemex.

 

Pemex’s problems have posed a threat to Mexico’s financial wellbeing as the company pays for about a fifth of the government’s budget. As such, the government has been issuing tenders to private companies including Cotemar. However, Cotemar faces many obstacles in its journey ahead owing to the problems left behind in the wake of Pemex’s decline.

 

Challenges Ahead

Perhaps the biggest challenge for Cotemar and other private oil companies in Mexico is infrastructure theft. These companies will likely be embroiled in legal battles fighting to regain ownership of these infrastructures. For instance, Pemex is already dealing with accusations of land grabbing and other related conflicts.

 

The issuance of tenders for deep-water exploration will also pose a problem for Cotemar as well as the government. There was no need of regulation in the past since Pemex was tasked with virtually every aspect of oil exploration and production. However, the involvement of Cotemar and other private companies will necessitate the formation of regulatory bodies. Regulation must also be coupled with other aspects such as taxation, oil production quotas, and royalties, among others. http://cotemar.com.mx/compania/filosofia-cotemar/

 

An Important Aspect Real Estate Developers Should Employ To Succeed In the Market

The real estate industry has been growing over the years and has attracted notable names of influential personalities across the world. Many people have taken a key interest in understanding the principle of property development and management. Hussain Sajwani is a renowned figure in the real estate development and management. He has vast interest in the engineering field, architectural and real estate development. As such, he has earned recognition not only in his native countries but across many countries in the world. Hussain Sajwani comes from the United Arad Emirates and has properties spread across the major cities with his operating base in Dubai. Hussain Sajwani is the founder and chief executive officer of DAMAC Group. DAMAC Group is a property development and management company headquartered in Dubai. The company has focused on building luxuries and state of the art facilities that have changed the appearance of many cities. DAMAC Group has undertaken the construction of multi-billion projects that are supervised by established and recognized engineering firms. This has been its driving force towards developing the real estate industry move to another level.

 

Hussain Sajwani is known to be influential in all quarters. Through DAMAC Group, he has developed a business entity that has attracted personalities like the current US president Donald Trump. This is because they have partnered in undertaking real estate projects together thus strengthening their relationship. Since its establishment in 2002, Hussain Sajwani has been at the center of ensuring the company delivers on its promises. He has been at the center of helping many countries like the United States of America during their war in Afghanistan and Iraq where his companies helped in the provision of foodstuff. Hussain Sajwani retaliates that he is ready to work even more closely with Donald Trump especially after being elected as US president. DAMAC Group is also strategizing to have an upper hand in the real estate investment industry especially with the good prices being offered by London Stock Exchange. Hussain Sajwani has recently partnered with Trump International Golf Club in the building of luxurious villas that have skyrocketed to over $2billion dollars.