Cotemar is the Backbone of Mexican Oil & Gas Industry

Cotemar is considered the backbone of Mexican oil & gas industry due to the offshore services it provides to Pemex which is also known as Petroleos Mexicanos. The company was founded in 1971 to serve the Mexican energy industry. With the passage of time, Cotemar transformed itself into a top service provider in strategic fields like specialized vessels and catering & accommodation, especially in Campeche Bay area.

 

 

The company uses leading technology to provide efficient processes to contribute to the oil & gas production. For almost four decades, Cotemar is continuing to provide Petroleos Mexicanos with efficient and result oriented solutions to meet their industrial needs. Cotemar provides them services like maritime support, accommodation & catering, specialized vessel, construction, modernization, maintenance, and engineering.

 

 

Recently, Petroleos Mexicanos canceled two contracts with Cotemar due to fluctuating international oil prices. However, Cotemar is confident of overcoming the crisis. According to an official, it is a normal thing to happen in this sector due to reasons like a budget cut. Cotemar is not the only company to be affected by this move. However, it has made Cotemar delay renewing of boats from specialist company Prosafe.

 

 

Prosafe has confirmed that its work with Cotemar is affected by the budget cuts made by Petroleos Mexicanos. Cotemar was working with Prosafe to get three semisubmersible work platforms. As a result, Prosafe had to lay off two thousand personnel due to the cancellation of the vessel’s order. The workforce of Prosafe is now reduced to five thousand people.

 

 

Cotemar is continuing to operate specialized vessels for the National Oil Company. The vessels are used for the purpose of personnel transportation, maintenance, and construction of production platforms. According to Manager of Prosafe, Cotemar also uses fleets of other companies. Cotemar still has other contracts with Petroleos Mexicanos, and it is using large fleets of several boats for that purpose. Prosafe is hopeful of things getting stable.

 

 

In 2015, the prices of crude oil went down to as low as fifty dollars per barrel. As a result, Cotemar had to lower its equipment’s renting price. The manager of Prosafe denied that he criticized Petroleos Mexicanos. He showed support to the company for making necessary changes in contracts and management. According to him, the actions taken by Petroleos Mexicanos is by international trends. Cotemar is working on the modernization and innovation of its offshore rigs and processing centers.

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The Glorious Highland Capital Management

Highland Capital Management is a registered Securities and Exchange Commission investment advisor. It was co-founded in 1993 by Mark Okada and James Dondero. Highland Capital Management is the leading and most experienced credit managers globally. Highland mainly specializes in offering credit facilities.

The credit facilities include credit hedge funds, loan obligations based on collateral(CLO), private equity and also long-only funds. Highland also specializes in offering alternative investments. This includes upcoming markets and also either long or short equities.

The Highland Capital Management client base is diversified, which leads to its high annual profit despite changing economic trends been experienced globally. Its customer base includes financial institutions, government, high net-worth individuals, corporations, and public pension plans.

Apart from investing in the financial markets, Highland Capital Capital also pays back to the community where their employees live and work. It also supports the local community organizations and the non-profit making organizations by mostly financing their activities. Apart from the financing, it also offers advisory services and volunteering services to the organizations not only in their community but the whole world as a whole.

According to Nasdaq, Highland Capital Management also focuses on investing in programs mostly concerned with education, healthcare and also its members’ initiatives in the society. In June 2016, James Dondero, the President of Highland Capital teamed up with Linda Owen, Woodall Rodgers Park Foundation, former president, due to the increasing spending on charitable activities.It has invested more than 10 million dollars to organizations all over the world since 2005.

Highland Capital has affiliates which include; NexPoint Advisors, Nexpoint capital, Highland Brasil, Nexpoint Residential Trust and also Acis Capital Management. Nexpoint Residential Trust deals with real estate.

Highland Brasil specializes in investment opportunities in the emerging markets. Acis Capital Management deals with CLO management and CLO investing and has 3.5 billion dollars under management. Nexpoint advisors deal with hedging risks.

Nexpoint Capital provides investors with opportunities due to change in healthcare of a nation.Together, Highland and its affiliates manage about 15.4 billion dollars of assets.

Highland Capital Management headquarters are located in dallas, Texas. It also has offices situated in New York, Sao Paulo, Seoul, and Singapore.

One Of The Capital Group’s Biggest Asset

When he started his career as a participant, Tim D. Armour probably never thought he would be still working for the company thirty three years later. The veteran and now the chairman and chief executive officer at Capital Group has garnered respect not only in his company but also in the investment industry. He is the kind of person who will speak and people will listen as he has adequate knowledge about the industry.

Prior to being elected as the company’s chief executive officer, he had been the vice president, in charge of the strategic decisions of the company. Even before he was elected, the board of directors were working to replace the late Jim Rothenberg with Tim. However, after Jim Rothenberg’s untimely death, the board unanimously elected Tim to fill up his shoes. Speaking to the press, Tim expressed the loss and the sorrow that hit the company but promised to use the insight he learned with working with the late CEO to benefit the company.

Since his elections he has led the company into profitable ventures around the globe. One of his achievements was leading the company into signing a partnership with the Korean based Samsung Asset Management. The Korean based company seeks management expertise and counsel from Capital Group while Capital Group wishes to learn their marketing strategies. During the announcement, Tim agreed that the partnership would be beneficial to the two companies and also give Capital Group a chance to delve and penetrate into the Korean market.

Tim Armour has a strong relationship with his clients and his employees. When asked what he thinks about the economy, he believes that it is stagnant and will be so for some time. The federal government feels the pinch and understands the dangers of state of the economy. In order to stabilize it, the investors will have to give.

Tim Armour is an alumni of Middlebury College. Here, he graduated with a bachelors in Economics. He began his career at the company and in thirty three years at the company, Armour has earned himself several titles till date. At Capital Research and Management Inc. a sister firm of the Capital Group he is the principal executive officer and also the equity investment advisor.