Mexican national oil company Pemex plans to refinance $2.5 billion in debt this year while trying to revive oil production to boost income, the state-owned company’s chief financial officer said, Continue Reading
The Mexican government will cut Pemex’s profit-sharing duty, known as DUC, to 54% by 2021 from the current 65%, the company’s financial director, Alberto Velazquez, said Thursday. “Results from this Continue Reading
Pemex will avoid investing in deepwater offshore projects, instead focusing on areas where it has experience, including the shallow waters of the Gulf of Mexico and onshore fields, Reuters quoted Continue Reading
Mexico’s Pemex plans to book as reserves more than 20 billion boe via exploration and increased recovery factors, allowing it to achieve its December 2024 production goal of 2.6 million Continue Reading
A massive fire at Philadelphia Energy Solutions Inc’s oil refinery on Friday damaged the largest U.S. East Coast plant to the point that it could remain shut for an extended Continue Reading
U.S. energy firms increased the number of oil rigs operating for the first time in the past three weeks as U.S. crude futures soared around 10% this week. Big energy Continue Reading
Canada’s Senate passed on Thursday two controversial bills restricting the movement of oil tankers off the northern coast of British Columbia and overhauling the assessment process for oil pipelines—bills which Continue Reading
Members of the US House of Representatives’ tax-writing committee said they will work on a new bill to expand incentives for renewable and clean energy amid complaints that their new Continue Reading
The nation’s addition of one oil rig was offset by a loss of four gas rigs this week. The United States gained one oil rig and lost four gas rigs Continue Reading
General Electric Co said on Friday it plans to demolish a large power plant it owns in California this year after only one-third of its useful life because the plant Continue Reading
