Houston Chronicle Plans to build a new $8 billion refinery in Mexico got a boost from the Chinese government. During a Monday morning event in Mexico City, China’s ambassador to Mexico Zhu Qingqiao announced that the Bank of China and the Industrial and Commercial Bank of China, or IDBC, would invest $600 million into the Dos Bocas Refinery. Already under construction
Houston Chronicle Royal Dutch Shell Plc is seeking a bigger share of Mexico’s fuel market, even as regulatory changes make it harder for foreign companies to compete. The Anglo-Dutch oil major, which already owns about 200 gasoline stations in 12 states in Mexico, plans to grow its share of the retail fuel market to as much as 15% from 1%
Houston Chronicle The Houston offshore oil and gas producer Talos Energy announced the results of a $640 million buying spree, picking up a slew of assets in the Gulf of Mexico from multiple companies backed by Riverstone Holdings and other private equity firms. Talos, which focuses on both the U.S. and Mexican sides of the Gulf, would acquire substantially all
Houston Chronicle Some of Petroleos Mexicanos’s communication systems are still affected two weeks after a cyberattack hit Mexico’s beleaguered state oil firm. For some employees, internet access is limited, some computer files aren’t accessible and they are having difficulty receiving external emails to corporate accounts, according to people in Pemex’s finance, legal and refining departments who asked not to be
Houston Chronicle American oil companies operating south of the border are stepping up their cybersecurity measures after reports of a ransomware attack that allegedly knocked out computers at Mexico’s state-run oil company Petroleos Mexicanos, or Pemex. Mexican media outlets have been reporting over the past two weeks that a ransomware attack prompted the Pemex to shut down all computers at
Reuters Mexican national oil company Pemex will not pay a ransom demanded by suspected cyberattackers who targeted the firm’s computer systems, Energy Minister Rocio Nahle told reporters on Wednesday. Nahle, who also serves as chair of the Pemex board, added that the attack hit the company’s administrative headquarters in Mexico City and that its “plants and wells” continued to operate.
Source: Reuters RIO DE JANEIRO/MEXICO CITY (Reuters) – When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks a dramatic change from only a year ago. In early October 2018, Brazil’s current president, Jair Bolsonaro, was in
Source: Houston Chronicle Mexico’s state-run oil company Petroleos Mexicanos, or Pemex, reported slightly higher production figures but posted a $4.6 billion loss during the third quarter amid sagging exports and domestic sales. In a Monday morning statement, Pemex reported a $4.6 billion loss on $18.4 billion of revenue during the third quarter. The figures are down compared to a $1.4
From Reuters Mexico will soon unveil a set of major infrastructure projects drawn up by the private sector to lift the economy, President Andres Manuel Lopez Obrador said on Wednesday, seeking to banish the specter of recession from his young administration. Speaking at a news conference, Lopez Obrador said some 1,600 projects were under consideration that would “reactivate” Mexico, Latin
From Reuters A consortium formed by Hokchi Energy, Talos Energy and Wintershall Dea has given up a Mexican oil contract in the Gulf of Mexico’s shallow waters due to lack of commercial discovery, the country’s oil regulator said on Wednesday. As part of Mexico’s flagship energy reform, the consortium in 2015 was awarded a contract to explore the block, area
Source: Houston Chronicle Petroleos Mexicanos’s head of crude oil trading Victor Briones has left the company, people familiar with the matter said Thursday. Briones, who worked for two decades at PMI, the trading arm of Mexico’s state-owned oil company, left amid an external review of new formulas created to price oil sales to refiners in the U.S. and elsewhere, one
Source: Reuters – A sweeping oil reform enacted several years ago in Mexico came under fresh attack from President Andres Manuel Lopez Obrador on Tuesday, as he dismissed it as a give away that has yielded no additional output from new private entrants into the market. The president also appeared to dampen speculation from some business-friendly advisers that he will
