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 injured. He joins a long line of presidents who have tried to fix Mexico’s struggling state oil producer — with little to
From Reuters Mexican state-run oil giant Petroleos Mexicanos will focus on existing shallow water assets and refining next year at the expense of riskier, deepwater projects under a new government that has vowed to turn around the ailing company. The 2019 budget blueprint presented on Saturday by officials of leftist President Andres Manuel Lopez Obrador calls for some $23 billion
From Bloomberg Pemex has more than tripled its estimated reserves in its Ixachi field. The company now believes the onshore field in Veracruz contains 1.3 billion barrels of oil equivalent in proven, probable and possible, or “3P,” reserves, Petroleos Mexicanos exploration chief Jose Antonio Escalera said Tuesday at a press conference in Mexico City. Pemex expects the field to reach
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 of sovereignty related to the energy reform. The Mexican channel of Congress reported that on Thursday, legislator Marco Gomez, of the Mexican Ecological
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 (PUA) for two offshore areas in Mexico’s Southeast Basin: the Amoca-Yaxche-03 allocation and the Block 7 contiguous production sharing contract.
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 could slow foreign investment in Mexico’s oil industry. The Mexican state oil giant brought in a new head of joint ventures
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 off the southern Gulf coast of Mexico. It’s expected to be the first major development to move forward since the
From Argus Mexico City, 13 April (Argus) — Mexico’s state-run Pemex says it wants to capitalize on Venezuela’s dwindling crude production to boost its own exports of heavy crude to the US market. Asked whether falling crude production in Venezuela could represent an opportunity for the Mexican oil company, Pemex top executive Carlos Trevino said this week “without a doubt
Brazil’s state-controlled oil company, Petrobras, has hedged a portion of its 2018 oil production. The move should protect cash flow against downturns in the marketplace. Bloomberg reported that the company hedged 128 MMBbls, or 350,685 BOPD at an average Brent price of $65/bbl. The average cost, a company filing on Wednesday said, is about $3.48 a barrel. Petrobras has become
From Reuters Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil
International Frontier Resources Corporation (ticker: IFR) has received a drilling permit for its onshore oil and gas block, Tecolutla, with its Mexican JV, Tonalli Energia. Tonalli was granted the right to operate, develop and produce hydrocarbons at Tecolutla through a licensing contract with the Mexican government. The Tecolutla block was awarded to Tonalli as part of the first round and
From Reuters Mexico’s national oil company Pemex has made its biggest onshore oil discovery in fifteen years with a find in the eastern state of Veracruz, President Enrique Pena Nieto said on Friday. Tanker trucks of state-owned company Petroleos Mexicanos (PEMEX) are seen in Ciudad Juarez, Mexico October 4, 2017. REUTERS/Jose Luis Gonzalez Pena Nieto said Pemex made the discovery
