Nasdaq MEXICO CITY- Mexico expects an average price of $60 per barrel for its crude oil exports, as well as an average crude production of 1.9 million barrels per day (bpd) for 2022, as state-owned Pemex struggles to increase output, a government source told Reuters. The preliminary forecasts are being used by the finance ministry to calculate part of the
Reuters MEXICO CITY – Mexican state oil firm Petroleos Mexicanos (Pemex) expects to resume by Aug. 30 all oil production shut down by a deadly fire on an offshore platform, the firm’s chief executive said on Tuesday. Five workers were killed, two are missing and six injured in a fire on Sunday on the offshore platform that is part of
Nasdaq Global miner BHP Group BHPB.L, BHP.AX said on Friday it would spend $544 million to develop its Shenzi North oil project in the Gulf of Mexico, and approved advancing its Trion oil project in Mexico into the design and engineering phase. BHP, which is the operator of Shenzi North and holds a 72% stake in it, said the project will add
Nasdaq MEXICO CITY – Mexico’s state oil company Petroleos Mexicanos (Pemex) on Wednesday reported net profit of 14.4 billion pesos ($722.5 million) in the second quarter, reversing course after a loss in the same period last year thanks to higher prices and crude production. Pemex’s financial debt swelled slightly from the first quarter of the year, reaching $115.1 billion at
Bloomberg Mexico’s bill to increase government controls over the fuel market won final congressional approval in the latest blow to the country’s historic opening up of the energy industry. With 65 lawmakers in favor, 47 opposed, and 6 abstaining, the senate on Thursday passed the proposal from President Andres Manuel Lopez Obrador to expand control over gasoline and diesel distribution, imports and
Reuters MEXICO CITY- The United States has raised concerns with Mexico about a worsening climate for U.S. energy investors in the Latin American nation, the Office of the United States Trade Representative (USTR) said. Mexican President Andres Manuel Lopez Obrador, bidding to reverse previous reforms that enticed foreign investors, has sought to strengthen the state’s role in the energy sector,
Reuters Editor’s Note: Talos Energy (NYSE: TALO) will be presenting at The EnerCom Dallas Energy Investment & ESG Conference April 6-7, 2021. EnerCom Dallas is a financial conference that provides institutional investors an early 2021 opportunity to meet CEOs from leading independent E&Ps, including some of the industry’s leading Permian, Eagle Ford, Marcellus, Utica and Canadian producers, and the oilfield service companies
Reuters MEXICO CITY – Mexico plans to renegotiate contracts in the electricity sector with Spain’s Iberdrola and around 10 other firms, President Andres Manuel Lopez Obrador said on Wednesday, heralding fresh tensions between his government and the private sector. “Basically it’s Iberdrola and about 10 more,” Lopez Obrador told a regular government news conference. “We’re going to look for agreements
Reuters MEXICO CITY – Mexico’s president on Thursday forcefully defended his drive to strengthen the state’s role in the energy sector, seeking to temper investor hopes that he might give ground if the new U.S. government under President Joe Biden takes up their cause. President Andres Manuel Lopez Obrador has worked to bolster state oil firm Petroleos Mexicanos (Pemex) and
Reuters MEXICO CITY – Mexico’s government has issued new regulations to limit the ability of private firms to import fuel, according to a weekend decree, fanning concerns that the move may unduly benefit national oil company Petroleos Mexicanos (Pemex). The rules, issued by the energy ministry and scheduled to go into force on Monday, are part of a drive by
Reuters MEXICO CITY – Mexican President Andres Manuel Lopez Obrador said on Thursday his government will investigate allegations bribes were paid by the U.S. subsidiary of the world’s largest independent oil trader Vitol to state oil firm Petroleos Mexicanos (Pemex). Lopez Obrador, speaking at a news conference, said the accusations by the U.S. Justice Department related to bribes allegedly paid
Reuters MEXICO CITY – U.S.-based Sempra Energy will be granted an export permit for a liquefied natural gas facility in northwest Mexico if the company helps address excess supply in the area, Mexican President Andres Manuel Lopez Obrador said on Friday. San Diego-based Sempra had previously signaled its Mexican unit, IEnova, was close to obtaining the permit for the LNG
