Mexico faces an election in June amid rising natural gas demand and infrastructure needs. See what NGI analysts gleaned from the recently completed 4Q2023 earnings season.

  • SLB Corp. (SLB): CEO Olivier Le Peuch told investors on SLB’s 4Q2023 earnings conference call that “in the international markets, we expect full year revenue growth reaching the mid-teens [on a percentage basis], led by the Middle East and Asia, and Europe and Africa.” Conspicuously absent from that is Latin America, which would be a continuation of the lack of momentum from the past year. In fact, according to Baker Hughes statistics, the average rig count in Latin America for February was 165, down from 181 year/year. All those other regions Le Peuch mentioned are up year-over-year. Now that’s certainly...