Mexico Archives - Page 8 of 24 -

Pemex replaces CFO as Mexico’s president tightens his grip

December 2, 2021

World Oil MEXICO CITY (Bloomberg) –Petroleos Mexicanos is replacing its finance chief as President Andres Manuel Lopez Obrador tightens his grip on the struggling state oil giant. In Pemex’s first C-suite shift under the current administration, the Mexican producer named risk management chief Antonio Lopez Velarde its chief financial officer, replacing Alberto Velazquez Garcia, who will run a new unit.

National security review stalls sale of Shell U.S. refinery to Mexican state oil firm

November 30, 2021

Reuters HOUSTON – A national security review has delayed the sale of Royal Dutch Shell’s controlling interest in a Texas refinery to Mexico’s national oil company Petroleos Mexicanos (Pemex), Shell said on Tuesday. Shell in May disclosed a sale of its 50% interest in the 302,800 barrel-per-day (bpd) Deer Park, Texas, refinery outside Houston to partner Pemex for about $596

Pemex reduces 2022 oil output forecast after platform troubles

September 9, 2021

World Oil MEXICO CITY (Bloomberg) –Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. The country’s Finance Ministry lowered a preliminary estimate for crude output in 2022 to 1.826 million barrels a day, from a March 31

EXCLUSIVE-Mexico forecasts $60 per barrel prices for 2022 crude oil exports

August 27, 2021

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

Pemex targets restoring oil output lost to platform fire by Aug 30

August 25, 2021

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

BHP approves funding for Shenzi North, Trion oil projects in Mexico

August 6, 2021

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

Mexico’s Pemex posts quarterly net profit; debt swells to $115 bln

July 28, 2021

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

Mexico’s fuel market grip is poised to tighten, buoying AMLO

April 23, 2021

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

U.S. voices concern to Mexico about ‘deteriorating climate’ for energy investors

April 2, 2021

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,

Exclusive: Pemex would consider letting private group operate Zama oil field, CEO says- oil and gas 360

EnerCom Dallas Presenter Update: Exclusive: Pemex would consider letting private group operate Zama oil field, CEO says

March 22, 2021

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

Mexican president plans renegotiation of power industry contracts

March 3, 2021

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

Mexico defends state-led energy policy as investors look to Biden

January 21, 2021

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

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