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
World Oil (Bloomberg) — Mexico — which imports nearly all of the natural gas it burns — has laid out a somewhat surprising mission: to become one of the world’s top exporters of the fuel, and fast. Although natural gas exports from Mexico are today non-existent, seeing as it produces too little of the power-plant fuel to supply even its own domestic needs, the
Reuters MEXICO CITY – A potentially costly U.S.-led complaint against Mexico’s energy policy has stirred considerable concern inside the Mexican government in spite of President Andres Manuel Lopez Obrador’s defiant attitude, officials and people close to the matter say. Last week, the U.S. Trade Representative demanded dispute settlement talks with Mexico, arguing Lopez Obrador’s drive to tighten state control of
Yahoo Finance MEXICO CITY – Mexican President Andres Manuel Lopez Obrador on Thursday denied his energy policies breached a regional trade agreement after Canada challenged them, and said that he had reached agreement with a host of American investors in the sector. Speaking at a regular news conference, Lopez Obrador said Mexico would defend control of its oil as well
World Oil (Bloomberg) — The U.S. said Mexico’s nationalist energy policies violate North America’s free-trade deal and has requested dispute-settlement talks under the agreement. Mexico’s moves to prioritize energy from its state utility over private renewables companies, as well as denials and revocations of U.S. firms’ abilities to operate in the country’s energy sector, are among the issues the U.S.
World Oil (Bloomberg) — The Biden administration is scrapping planned auctions of drilling rights in the Gulf of Mexico and Alaska’s Cook Inlet — a move that deepens uncertainty over the future of the U.S. government’s offshore oil leasing program. The Interior Department said in an emailed statement it “will not move forward” with two Gulf lease auctions that were
Reuters MEXICO CITY – U.S. Energy Secretary Jennifer Granholm will travel to Mexico this week for talks, with the government’s planned overhaul of the Mexican electricity market potentially on the agenda, President Andres Manuel Lopez Obrador said on Monday. The United States has voiced concerns about an initiative championed by Lopez Obrador which aims to strengthen state control of the
Reuters MEXICO CITY/HOUSTON -A pair of New York businessmen filed a lawsuit in a U.S. court seeking to block Mexico’s state oil company Petroleos Mexicanos (Pemex) from taking control of a Texas refinery, claiming the sale would raise U.S. gasoline prices. Royal Dutch Shell in May agreed to sell its majority stake in the 302,800 barrel per day (bpd) Deer
World Oil MEXICO CITY (Bloomberg) –Mexico could slash Pemex’s taxes further as the world’s most indebted oil company scrambles to reverse long-term oil production declines. “With Pemex, for example, we are constantly or periodically lowering taxes so they have more funds,” said President Andres Manuel Lopez Obrador during his daily press conference on Monday. “And we can lower them more.”
Nasdaq Dec 6 – Petroleos Mexicanos (Pemex) said on MondayPEMX.ULit will issue new debt and that the Mexican government plans to inject up to $3.5 billion into the state oil company to help manage its liabilities. In a statement, the heavily indebted Pemex said it was planning a series of measures to improve its financial condition, including offering U.S. dollar-denominated
