Post Tagged with: "Mexico"
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 …
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
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
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 …
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 …
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 …
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’ …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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
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 …
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
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
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 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 …
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 …
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 …
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 …
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
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 …
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
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 …
