Mexico

Source: Reuters

Fallout from Mexican president’s Pemex ‘rescue’ set to greet successor

Nasdaq


MEXICO CITY – Mexico’s outgoing president has taken steps to promote a smooth hand-off for national oil company Pemex, three sources told Reuters, but the latest moves will likely postpone a day of reckoning for the world’s most heavily-indebted …

Source: Reuters

Mexican tycoon Slim cites interest in more oil investments, growing stake in Talos

Investing


MEXICO CITY-Mexican tycoon Carlos Slim is interested in increasing his investments in the oil sector, including in U.S.-based Talos Energy (NYSE:TALO)’s projects, after the billionaire businessman bought a stake last year in a major offshore project discovered …

Source: Reuters

ANALYSIS-Mexico’s Sheinbaum spurs hope of more private investment in energy after Lopez Obrador

Nasdaq


MEXICO CITY (Reuters) – The favorite to be Mexico’s next leader will likely be more open than her mentor President Andres Manuel Lopez Obrador to private investment in energy in order to help fund her renewable power push at …

Source: Reuters

Pemex’s failure to pay debts threatens suppliers’ survival, industry warns

Investing


Mexican state energy company Pemex’s mounting debt with oil service providers as well as private crude and gas producers threatens production, investment and in some cases even the survival of suppliers, industry groups warned.

In addition to financial debt …

Source: Reuters

Biden administration ordered to sell Gulf of Mexico oil leases next month

World Oil


(Bloomberg) — A federal appeals court ordered the Biden administration to sell drilling rights in the Gulf of Mexico within 37 days, a defeat for environmentalists who argued oil leasing and development in the region imperil a critically …

Source: Reuters

New Fortress Energy, Pemex scrap Mexican deepwater gas project

Reuters


New Fortress Energy (NASDAQ:NFE) and state energy company Pemex have terminated a deal to develop what could have been Mexico’s first deepwater natural gas project, Reuters reported Tuesday.

Pemex wants to continue with the development of …

Source: World Oil

U.S. oil groups urge Biden administration to support energy security by removing offshore production barriers

World Oil


(WO) – The American Petroleum Institute (API) called on the Biden administration to help meet growing energy demand by allowing for consistent and predictable access to America’s vast energy resources offshore.

In comments submitted to the Bureau of …

Source: World Oil

Machin calls for Gulf of Mexico oil drilling auction after court ruling

World Oil


(Bloomberg) – Senator Joe Manchin called on the Biden administration to swiftly auction drilling rights in the Gulf of Mexico, following a federal appeals court ruling Thursday that casts doubt on the future of that oil lease sale.…

Source: Reuters

BP considers selling $1 billion stake in its Gulf Of Mexico pipeline network

Oil Price


BP is considering selling 49% of its oil and gas pipeline network on the U.S. Gulf Coast, eyeing proceeds of $1 billion, Reuters has reported, citing unnamed sources. The supermajor has already organized its pipeline stakes into …

Source: World Oil

Talos Energy closes $125 million sale with Grupo Carso to develop Zama oil field offshore Mexico

World Oil


(WO) – Talos Energy Inc. and its Mexican subsidiary announced the closing of the sale of a 49.9% interest in Talos Mexico to Zamajal, S. A. de C.V., a wholly-owned subsidiary of Grupo Carso (“Carso”).

Talos received $74.85 …

Source: Reuters

US plans sharp reduction in offshore oil and gas auctions

Nasdaq


The Biden administration on Friday unveiled a plan to phase down oil and gas auctions in federal waters with the release of a long-awaited leasing schedule that includes a maximum of three sales in the Gulf of Mexico through …

W&T Offshore announces accretive acquisition of producing properties in the Gulf of Mexico

W&T Offshore announces accretive acquisition of producing properties in the Gulf of Mexico

Oil and Gas 360


HOUSTON, Sept. 21, 2023 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (the “Company” or “W&T”) today announced that it has completed the acquisition of working interests in eight shallow water oil and gas producing assets …

Source: Oil price

Mexico vows long-delayed oil refinery will reach full capacity this year

Oil Price


Mexico’s state oil firm Pemex is expected to start running the long-delayed Dos Bocas oil refinery at full capacity this year, Mexican Energy Minister Rocio Nahle said this week.

The oil refinery has seen delays and cost overruns …

September 14, 2023 - 1:30 pm Closing Bell Story‎, Crude Oil News, Downstream, Energy News, Mexico
Source: Oil Price

Oil majors pull out from Mexico exploration projects

Oil Price


Chevron and Spain’s Repsol have quit exploration at two offshore blocks in Mexico waters after early work suggested there are not enough resources to make it worthwhile to continue. The two had won the rights to explore the …

Source: Reuters

Exclusive: Biden administration moving to escalate energy trade dispute with Mexico

Nasdaq


President Joe Biden’s administration has asked U.S. energy companies to prepare affidavits documenting how Mexico’s protectionist policies disrupted their investments as Washington prepares to escalate a trade dispute with its neighbor, according to three people familiar with the discussions.…

Paradigm Drilling Services expands Mexican sales team to support new drilling tool development

Paradigm Drilling Services expands Mexican sales team to support new drilling tool development

World Oil


(WO) – Paradigm Drilling Services has recruited Rocio Hoz Cano as Technical Sales Engineer in Mexico to support growth investment in new drilling tools being deployed in the region.

 

Paradigm Drilling Services expands Mexican sales team to support new drilling tool development- oil and gas 360

Bringing over 10 years of well planning and …

Source: Reuters

ConocoPhillips signs 20-year LNG agreement from Mexican terminal

World Oil


(Bloomberg) – ConocoPhillips agreed to a long-term deal to buy liquefied natural gas from an export terminal being developed on Mexico’s west coast. Under a 20-year agreement, ConocoPhillips will buy approximately 2.2 million tons of LNG annually from …

August 4, 2023 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, LNG, Mexico
Source: Reuters

Mexico backs state oil giant Pemex with $4 billion capital injection

Oil Price


Mexico’s state-owned oil giant Pemex, the world’s most indebted oil company, has received a capital injection of $4.16 billion (70 billion Mexican pesos) from the finance ministry, sources with knowledge of the matter told Bloomberg on Friday.

The …

Source: Reuters

FOCUS-In Mexico, private cash races to plug nearshoring energy crunch

Nasdaq


MEXICO CITY – For Mexican industrial park owners like Sergio Bermudez, business is booming amid a wave of U.S businesses setting up over the border. So-called nearshoring has pulled over $9 billion into Mexico since last October by manufacturers …

Source: Reuters

Pemex sinks deeper into junk: Fitch

Oil Price


Fitch Ratings has downgraded Petroleos Mexicanos—or Pemex—squarely into junk territory after several accidents and “weak operating performance”. Fitch also lowered its ESG score after those accidents, which included an explosion at a natural gas platform that ended with …

Source: Reuters

Exclusive: Mexico’s oil regulator, constrained by government, dropped plans to fine Pemex

Nasdaq


MEXICO CITY – Mexico’s oil regulator shelved plans to impose at least three fines against the national energy company Pemex for violations at the country’s most promising new fields, two dozen previously unreported documents showed and three sources confirmed.…

Source: Reuters

“Massive” explosion on Pemex production platform leaves two dead, cuts output by 700,000 bbl

World Oil


(Bloomberg) – Petroleos Mexicanos said it lost production capacity for about 700,000 bbl of oil, more than a third of its daily output, after a massive platform explosion on Friday that left at least two people dead.

The …

Source: Reuters

EIA: Energy trade between U.S. and Mexico hits record levels

Oil Price


The U.S. Energy Information Administration (EIA) has reported that energy trade in 2022 between the United States and Mexico totaled $81.9 billion in real prices, an all-time high. U.S. energy exports to Mexico in real prices totaled $55.8 …

Source: Oil Price

Mexico’s energy conundrum: AMLO’s nationalization plans face scrutiny

Oil Price


Mexico’s state-owned oil company Pemex has faced challenge after challenge, following scrutiny over its poor safety standards and low production levels and now it’s likely to miss the scheduled launch of its new refinery.

The indebted oil firm …

June 6, 2023 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Mexico
Source: Reuters

Billionaire Carlos slim buys stake in huge Mexican oilfield

Oil Price


Talos Energy is selling 49.9% of its Mexican subsidiary to a unit of Grupo Carso, owned by billionaire Carlos Slim, with which the buyer gets access to the huge Zama oilfield offshore Mexico.

 

Talos Energy on Thursday …

Source: Reuters

New Pemex oil refinery to again miss production launch – document

Nasdaq


MEXICO CITY – A new oil refinery belonging to Mexico’s state-owned Pemex, a top priority of the country’s president, will again miss its promised launch date to begin production, according to an internal audit report seen by Reuters.

The …

Source: Reuters

US to kick off Gulf of Mexico oil drilling rights auction

BOE Report


The Biden administration will hold an auction of oil leases in the U.S. Gulf of Mexico on Wednesday, the first test of demand for new investment in the region since the Russian invasion of Ukraine tightened energy supplies …

March 29, 2023 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, Mexico, Offshore
Source: Reuters

Exclusive: US plans ultimatum in Mexico energy dispute, raising threat of tariffs

Yahoo Finance


The Biden administration plans to send Mexico an “act now or else” message in coming weeks in an attempt to break a stalemate in an energy trade dispute as bipartisan calls grow for the U.S. to get tougher …

Talos Energy and its partners announce submission of unit development plan for Zama Project in Mexico

Talos Energy and its partners announce submission of unit development plan for Zama Project in Mexico

Oil and Gas 360


HOUSTONMarch 23, 2023 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) and the other Zama Unit Holders Wintershall Dea, Harbour Energy plc (“Harbour”) and Petróleos Mexicanos (“Pemex”), today announced that on …

Source; Reuters

Eni makes oil discovery offshore Mexico

World Oil


(WO) – Eni made a new oil discovery on the Yatzil exploration prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. According to preliminary estimates, the new finding …