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 and sent prices soaring. The auction fulfills a provision in President Joe Biden’s 2022 climate change law, the Inflation
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 with its southern neighbor, according to people familiar with the discussions. The move would represent a significant escalation in already-strained
Oil and Gas 360 HOUSTON, March 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 March 23, 2023, Pemex, as operator, submitted the Zama Unit Development Plan (“UDP”) to Mexico’s National Commission of Hydrocarbons (“CNH”) for formal approval. An
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 may contain around 200 MMboe in place. Yatzil-1 EXP is the second commitment well of Block 7 and the eight
Oil Price Mexico’s state-owned oil company Pemex saw three fires in one day at three separate facilities that it operates in Mexico and the United States. Pemex reported on Thursday a fire at the storage facility Tuzandepetl in the state of Veracruz. The fire started in the drilling equipment for reasons that are yet unknown, the Mexican company said. Five workers
World Oil (WO) — Williams and Chevron U.S.A have agreed to support natural gas development in the prolific Haynesville basin as well as the deepwater Gulf of Mexico. Williams will provide natural gas gathering services to Chevron’s 26,000-acre Haynesville dedication. Chevron has agreed to a long-term capacity commitment on Williams’ Louisiana Energy Gateway (LEG) project. Additionally, Williams has agreed to
Nasdaq MEXICO CITY – Mexican President Andres Manuel Lopez Obrador on Saturday signed a decree handing over responsibility for lithium reserves to the energy ministry, after nationalizing lithium deposits last April. During an event in Sonora, Lopez Obrador signed the decree that orders the energy ministry “to take the actions necessary to carry out” the nationalization process. It also declares 234,855 hectares
World Oil (WO) — Shell Offshore Inc., a subsidiary of Shell plc (Shell), announced has begun oil production at the Shell-operated Vito floating production facility in the U.S. Gulf of Mexico (GoM). With an estimated peak production of 100,000 boed, Vito is the company’s first deep-water platform in the GoM to employ a simplified, cost-efficient host design. “Vito is an
Oil Price Mexico’s indebted state oil company, Pemex, is searching for ways to make $10 billion in bond payments this year, an amount that neither the company nor Mexico’s government has planned for, Bloomberg News reported Monday. Last month, Pemex Chief Executive Officer Octavio Romero said the company was in talks with the government about getting renewed support for paying
Oil Price New Mexico is set to overtake Mexico’s crude oil production in the current month. That’s what commodity analysts at Standard Chartered have projected in a new report obtained by Oilprice.com, with New Mexico’s production in September just 74,000 barrels per day less than Mexico’s. “The surge in New Mexico’s output is centered on two counties, Lea and
Oil Price The United States and Canada are frustrated with Mexico’s approach to energy. The country’s energy policy has fluctuated over the last decade as different presidents have taken wildly different approaches to transform the sector. The previous Mexican President, Enrique Peña Nieto, made a seismic shift when he opened up the long-nationalized sector to international investors. For nearly 80
Oil Price The United States and Mexico will continue talks aimed at settling an energy policy dispute after failing to reach an agreement within the set minimum period, Bloomberg has reported, citing the sides chose to keep negotiating instead of the U.S. opting for arbitration. It was the United States that requested the talks earlier this year, under the United
