Post Tagged with: "Mexico"

A Rough Day at the Park for Crude Oil

A Rough Day at the Park for Crude Oil

By Tyler Losier, Energy Reporter, Oil & Gas 360

Actually, it’s been a rough few weeks for crude oil.

West Texas Intermediate near-month futures are down just about 20% since WTI peaked at $66.60 in late April of this year,

Mexican Tariffs Could Smack U.S. Refiners, Add to Fuel Costs

Mexican Tariffs Could Smack U.S. Refiners, Add to Fuel Costs

From Reuters

HOUSTON (Reuters) – U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by …

June 3, 2019 - 2:44 pm Closing Bell Story‎, Downstream, Energy News, Trade
Mexico Stanches Flow of Stolen Fuel

Mexico Stanches Flow of Stolen Fuel

From The Wall Street Journal

Mexico’s government is notching some successes in its battle against the country’s fuel thieves, dealing a blow to organized crime and restoring lost revenues to financially troubled state-run oil company Petróleos Mexicanos.

During the first …

Oil Explorers Push Ahead in Mexico as AMLO Asks for More Output

Oil Explorers Push Ahead in Mexico as AMLO Asks for More Output

From Bloomberg

International oil companies including Malaysia’s Petronas, U.S. independent Murphy Oil Corp. and Spain’s Repsol SA are pushing ahead with plans to develop Mexico’s deep-water fields, as they face criticism from the government that they aren’t moving fast enough.…

Pemex Imports Crude in February, Despite President’s Aversion

Pemex Imports Crude in February, Despite President’s Aversion

From Reuters

Mexican state oil company Pemex imported crude oil in February despite the new president’s sharp criticism of the previous government’s authorization of foreign oil shipments, official data showed on Tuesday.

President Andres Manuel Lopez Obrador, who took office …

March 27, 2019 - 3:02 pm Closing Bell Story‎, Crude Oil News, Energy News, Mexico
Mexico’s Pemex Posts $7.6 Billion Loss In 2018 As Oil Output Dips

Mexico’s Pemex Posts $7.6 Billion Loss In 2018 As Oil Output Dips

From Reuters

Mexican state oil company Pemex said on Wednesday its losses narrowed in 2018, helped by currency exchange gains as crude production and refining rates continued to decline.

Pemex, Mexico’s largest company, reported a loss of $7.6 billion in …

February 28, 2019 - 2:10 pm Closing Bell Story‎, Crude Oil News, Energy News, Mexico
How Pemex ‘Destroyed’ $1 Billion With Erratic Business Choices

How Pemex ‘Destroyed’ $1 Billion With Erratic Business Choices

From Reuters

Mexico’s state-oil company Pemex burned through $665 million at its fertilizer unit, ignored consultants and made high-risk investments with no discernible business strategy, according to a devastating government audit of its 2017 operations.

The report, published late on …

February 22, 2019 - 5:34 pm Closing Bell Story‎, Energy News, Mexico
AMLO Sounds Death Knell for Oil Reforms With Pemex Farm-out Halt

AMLO Sounds Death Knell for Oil Reforms With Pemex Farm-out Halt

From Bloomberg

Mexico President Andres Manuel Lopez Obrador has suspended future Petroleos Mexicanos farm-out bids, putting one of the final nails in the coffin for the 2014 energy reforms that promised to reverse years of oil-production declines with private companies’ …

February 21, 2019 - 5:47 pm Closing Bell Story‎, Energy News, Mexico
Source: The Society of Petroleum Engineers

Pemex Assistance Plan Fails to Impress Bondholders

From Bloomberg

Mexico’s Petroleos Mexicanos, the world’s most indebted oil company, will refrain from issuing new bonds this year and begin prepaying existing liabilities as part of a broad turnaround plan. The peso and the company’s bonds fell on …

February 15, 2019 - 5:00 pm Closing Bell Story‎, Energy News, Mexico
Source: The Society of Petroleum Engineers

Mexico Pipeline Blast Risks Embroiling AMLO in Elusive Pemex Fix

From Bloomberg

Mexico President Andres Manuel Lopez Obrador is doubling down on a controversial strategy to end fuel theft at Petroleos Mexicanos after a pipeline explosion caused by an illegal tap left at least 85 people dead and many more …

January 21, 2019 - 11:09 am Closing Bell Story‎, Crude Oil News, Energy News, Mexico
Mexican Oil Theft Even Reached Drilling Rigs, President Says

Mexican Oil Theft Even Reached Drilling Rigs, President Says

From Reuters

Mexican President Andres Manuel Lopez Obrador said on Tuesday that widespread fuel theft extended to oil drilling platforms and he pledged to take actions to alleviate shortages sparked by his crackdown on gasoline thieves.

Lopez Obrador said there …

January 16, 2019 - 4:40 pm Closing Bell Story‎, Crude Oil News, Mexico
Source: CatholicVoices.org

Mexico Confirms It Completed 2019 Oil Hedge at $55 a Barrel

From Bloomberg

Mexico’s Finance Ministry confirmed that it spent about $1.23 billion to protect 2019 revenues against falling crude prices in the world’s largest annual oil deal.

The oil producer locked in hedges at $55 a barrel, equivalent to the …

January 11, 2019 - 12:20 pm Closing Bell Story‎, Crude Oil News, Energy News, Mexico
Source: CatholicVoices.org

Fuel Crisis Hits Mexico After Pipelines Are Closed

From The Wall Street Journal

Mexico faced a mounting crisis on Wednesday as gasoline shortages spread across the country after the government closed several key fuel pipelines to prevent theft by organized crime groups.

Mexican President Andrés Manuel López Obrador …

January 10, 2019 - 4:48 pm Closing Bell Story‎, Crude Oil News, Mexico
Lopez Obrador Says Mexico to Build an $8 Billion Refinery

Lopez Obrador Says Mexico to Build an $8 Billion Refinery

From Bloomberg

Mexico plans to start awarding the construction of its seventh refinery as soon as March 2019, President Andres Manuel Lopez Obrador said Sunday at an event at the Dos Bocas port in Tabasco, even as the nation´s refining …

December 11, 2018 - 5:50 am Closing Bell Story‎, Crude Oil News, Energy News, Mexico
Source: CatholicVoices.org

Who will Produce Mexico’s Oil? New President Waits for Production from Existing Contracts Before Considering New Auctions

From Reuters

MEXICO CITY, Dec 5 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Wednesday that he will not cancel oil contracts awarded under the previous government’s energy reform, but that he wants to see production from existing …

December 6, 2018 - 12:20 pm Closing Bell Story‎, International, Mexico, Politics & Opinions
Talos, Hokchi Cross-Assign Offshore Mexico Block Interests

Talos, Hokchi Cross-Assign Offshore Mexico Block Interests

Gulf-based Talos Energy (ticker: TALO) announced today it will cross assign its participating interest (PI) in one of its blocks in offshore Mexico in exchange for PI in another block just south.

Talos Energy’s interest (Block 2), located in the

Talos Energy Announces A Transaction With Pan American Energy To Cross-Assign Interests In Block 2 And Block 31 Offshore Mexico

Talos Energy Announces A Transaction With Pan American Energy To Cross-Assign Interests In Block 2 And Block 31 Offshore Mexico

Mexican Legislators Question Top Energy Officials over Corruption, Reform

Mexican Legislators Question Top Energy Officials over Corruption, Reform

From UPI

Oct. 12 (UPI) — Representatives of diverse political groups in the Mexican Congress questioned the top energy officials in Mexico over corruption linked to alleged Odebrecht bribing, organized fuel theft, declining investment, as well as about potential loss …

October 12, 2018 - 2:43 pm Closing Bell Story‎, Energy News, Mexico
Mexico’s Next President Will Honor Existing Oil Contracts: Official

Mexico’s Next President Will Honor Existing Oil Contracts: Official

From Reuters

MEXICO CITY – Mexico’s president-elect, Andres Manuel Lopez Obrador, assured private energy executives in a closed-door meeting last Thursday their contracts will not be canceled if they meet existing terms, the head of the country’s main oil producers’ …

A First for Mexico

A First for Mexico

Pemex, Talos, Premier Oil, and Sierra Oil and Gas Sign PUA for Zama

Pemex, with the Block 7 Consortium – Talos Energy (ticker: TALO), Premier Oil (ticker: PMO), and Sierra Oil and Gas – have just signed a Pre-Unitization Agreement …

Exclusive Interview: Oscar Roldan Flores, Head of the Mexico National Data Repository

Exclusive Interview: Oscar Roldan Flores, Head of the Mexico National Data Repository

At the 2018 Oil and Gas Conference, Oscar Roldan Flores, Head of the National Data Repository for CNH was interviewed by EnerCom’s Angie Austin.

Mexico’s national hydrocarbons commission — CNH — was established in November 2008 as an organization with …

Will Mexico’s Energy Sector Rise or Fall?

Will Mexico’s Energy Sector Rise or Fall?

Will Mexico’s new president divert Mexico’s energy sector away from successful reform?

Reuters reported last week that Mexico’s President-elect Andres Manuel Lopez Obrador (nicknamed ‘AMLO’) told reporters that Mexican oil auctions are suspended pending a review of the contracts awarded …

Map: World Review

U.S. and Mexico Strike Preliminary NAFTA Accord, Canada Expected to Return to Table

From the Los Angeles Times

The Trump administration has reached a deal with Mexico on a rewrite of the North American Free Trade Agreement, but the two sides now need a quick buy-in from Canada, which is expected to return …

August 27, 2018 - 2:21 pm Closing Bell Story‎, Energy News, Trade
Map: World Review

Netherland Sewell to Present Oil & Gas Seminar in Mexico City Next Month

Netherland Sewell & Associates (NSAI) will wrap up its slate of 2018 Oil & Gas Property Evaluation Seminars with a 2-day seminar in Mexico City on September 5-6, 2018.

The seminar will be held at the Centro Asturiano Polanco, with …

Cushing, Okla., is one of the United States oil facilities in the Keystone Pipeline System.

TransCanada’s 4,250-kilometre (2,640 mile) Keystone Pipeline System transports approximately 20 per cent of western Canadian crude oil exports to key refineries in the U.S. Midwest and Gulf Coast, where it is converted into fuel and other useful petroleum products.

Mexico Oil Hedge Expected to Continue With AMLO, Adviser Says

From Bloomberg

Mexico’s new government will probably continue hedging the country’s oil output in what is the world’s largest annual oil deal, according to an economic adviser to president-elect Andres Manuel Lopez Obrador.

The country’s annual sovereign oil hedge and …

Pemex Races Mexico Presidential Election in Hunt for Partners

Pemex Races Mexico Presidential Election in Hunt for Partners

From Bloomberg

Uncertainty over Mexico’s elections July 1 have potential partners on hold

State oil company still plans to farm out 11 onshore fields on October 31

Petroleos Mexicanos is accelerating efforts to bring on partners before an election that …

June 29, 2018 - 11:20 am Closing Bell Story‎, Energy News, Mexico
Energy XXI Gulf Coast to be Acquired by Cox Oil for Approximately $9.10 per Share

Energy XXI Gulf Coast to be Acquired by Cox Oil for Approximately $9.10 per Share

Energy XXI Gulf Coast, Inc. (NASDAQ: EGC) has signed a definitive agreement to be acquired by a privately held Cox Oil affiliate that owns and operates assets in the Gulf of Mexico.

Cox will acquire all the outstanding shares of …

Mexico Retaliates With 25% Duties on American Steel Products, 20% on U.S. Pork

Mexico Retaliates With 25% Duties on American Steel Products, 20% on U.S. Pork

From Reuters

Mexico put tariffs on American products ranging from steel to pork and bourbon on Tuesday, retaliating against import duties on metals imposed by President Donald Trump and taking aim at Republican strongholds ahead of U.S. congressional elections in …

June 5, 2018 - 10:20 am Closing Bell Story‎, Energy News, Mexico
Talos Energy Updates Production Guidance

Talos Energy Updates Production Guidance

Houston-based Gulf of Mexico producer Talos Energy Inc. (ticker: TALO) outlined the company’s strategy today in a new update.

The company projects 2018 pro forma production sales volumes of 18 – 19.5 MMBOE, or an average daily production 49 – …

Pemex Seeks to Achieve Global Oil Company Status

Pemex Seeks to Achieve Global Oil Company Status

From the Houston Chronicle

Talos-led GOM discovery putting wind in Pemex sails

Pemex is finalizing a development agreement with a group led by the Houston exploration and production company Talos Energy, which made the discovery last year about 37 miles …

May 4, 2018 - 2:37 pm Closing Bell Story‎, Energy News, Mexico