Mexico Archives - Page 4 of 24 -

EXCLUSIVE-Mexico’s Pemex put off repairs despite vast methane leaks: documents and sources

March 22, 2024

Nasdaq MEXICO CITY – Mexican state energy company Pemex put off urgent repairs and maintenance at an important offshore platform for months, resulting in methane spewing into the atmosphere, according to internal documents and three sources familiar with the infrastructure. Methane, the main component of natural gas, is a much more potent driver of global warming in the short term

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

February 23, 2024

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 oil company. Last week, President Andres Manuel Lopez Obrador rolled out fresh support for Pemex, part of his longstanding goal

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

February 14, 2024

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 by Talos. Speaking at a press conference, Mexico’s richest person signaled he would like to grow his company’s presence in the oil

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

December 21, 2023

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 a time of tighter public finances, aides, officials and executives said. The president’s drive to tighten state control of energy

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

December 15, 2023

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 of more than $105 billion, the company disclosed that at the end of September it owed local and foreign companies

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

November 16, 2023

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 endangered whale. The ruling Tuesday by the Fifth Circuit Court of Appeals means the US Interior Department has until Dec.

New Fortress Energy, Pemex scrap Mexican deepwater gas project

November 7, 2023

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 the Lakach gas field in the Gulf of Mexico and is in talks with other companies, according to the report, which did not

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

November 2, 2023

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 Ocean Energy Management (BOEM) in response to the Call for Information and Nominations for 2024-2029 Gulf of Mexico Lease Sales,

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

October 27, 2023

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. “Shrinking or further delaying Lease Sale 261 threatens both our energy security and climate goals and could make us more dependent on

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

October 4, 2023

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 a separate company, in which it plans to keep 51% and sell the rest to fund future dividend payouts and pay down debt,

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

September 29, 2023

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 million in cash at closing, with an additional $49.90 million due upon first production, for an aggregate price of $124.75

US plans sharp reduction in offshore oil and gas auctions

September 29, 2023

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 2029. The Interior Department’s plan includes by far the lowest number of sales since the agency began producing Congressionally-mandated five-year

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