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 was expected to open the new Olmeca refinery last December before it announced it was postponing the opening until July
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 announced that Zamajal, a wholly owned subsidiary of Grupo Carso, has agreed to acquire a 49.9% interest in Talos’ Mexican subsidiary, Talos
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 report stated that the current July goal was “not feasible,” which would mark a setback for President Andres Manuel Lopez
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
