Carbon emissions are on the rise again after a short blip when the pandemic brought entire industries and international travel to a halt. Emissions from burning fossil fuel dropped by Continue Reading
There will be no new exploration and production contracts on the table for private or foreign companies in Mexico under a government plan set to be made public soon. “We Continue Reading
Mexico will likely cut its crude oil production targets for next year, according to Bloomberg, citing a ruling party lawmaker in Mexico. The shift in strategy signals that Mexico’s state-run Continue Reading
Since this once-sleepy stretch of Mexico’s Caribbean coast began its transformation into a glitzy resort community 50 years ago, it has thrived by attracting millions of vacationers during its summer Continue Reading
The Mexican government may need to effect changes in the country’s constitution to strengthen its control of state oil giant Pemex, President Andres Manuel Lopez Obrador said in a memo Continue Reading
Mexico has asked top Wall Street banks to submit quotes for its giant oil hedging program, sources familiar with the matter said on Friday, while trading in crude oil options Continue Reading
The majority of the world’s oil producers have been racing to heavily cut back spending and production in response to the oil market crisis, while Mexico’s national oil company, Petroleos Continue Reading
When a fight erupts between a populist head of state and the business community over renewable energy, you might expect the leader to take the green side of the debate. Continue Reading
Mexico’s state oil firm Pemex has the highest number of employees who have died of the coronavirus, according to Bloomberg estimates of company data and official statements. On Tuesday, Pemex Continue Reading
Mexico’s state oil firm Pemex is asking some of its contractors if they would agree to be paid for their services next year, people familiar with the payment situation at Continue Reading
“With the chapter 11 restructuring process, we will strengthen our financial position and increase our liquidity, at the same time creating a sustainable platform to allow us to successfully weather Continue Reading
U.S. oil companies are calling on President Donald Trump to help persuade Mexican President Andrés Manuel López Obrador not to ditch the energy reforms that his predecessor launched, opening Mexico’s Continue Reading
Mexico’s largest oil refinery, the Salina Cruz refinery, is offline after a fire broke out in the refinery following a 7.4 magnitude earthquake in the area. Pemex, Mexico’s state-run oil Continue Reading
The American Petroleum Institute has asked the US government to urge Mexico to uphold its commitments to the United States-Mexico-Canada Agreement and to stop discrimination against US companies in Mexico’s Continue Reading
US gas pipeline exports to Mexico surged to a new single-day record high this week, propelled by warming summer weather and a soft opening of Mexico’s economy earlier this month. Continue Reading
A policy watchdog in Mexico this week halted the introduction of a set of regulations aimed at further restricting the participation of private clean energy generators in the country, according Continue Reading
Mexico’s economic and financial outlook has worsened amid the coronavirus pandemic, and temporary measures to shore up the financial system will remain in place, the central bank said on Wednesday. Continue Reading
Non-OPEC Mexico, which was the surprise holdout in the OPEC+ meeting in April, bailed out of the group’s one-month extension of the record production cuts. But Mexico’s share of the Continue Reading
rts to Mexico are up sharply this month amid signs of looming demand growth from warming temperatures, a reopening economy and from Fermaca’s delayed Wahalajara pipeline system. Receive daily email Continue Reading
It sounds like a news report out of yet another dystopian novel: Mexico is halting grid connection for new solar and wind power projects. In a world rushing to produce Continue Reading
He was the son of a petroleum worker in a nation that honors its oil company with an annual holiday. When Andrés Manuel López Obrador became president, he made it a Continue Reading
Mexico’s Pemex will receive additional fiscal benefits from the government as part of a series of measures to bolster its finances during the oil price rout, the state-owned oil and Continue Reading
Mexico’s state-held oil firm Petroleos Mexicanos (Pemex) said on Sunday that it had started to reduce the number of oil workers at its offshore oil platforms to reduce the risk Continue Reading
Mexico has somewhat inadvertently found itself at the heart of the oil industry’s most burning issues of 2020 – just when it seemed that Russia, Saudi Arabia, the United States Continue Reading
Mexico’s Pemex declared force majeure on fuel imports, which it receives from the United States, because of tanking demand, Reuters reported , citing two unnamed sources. Bloomberg quoted another unnamed Continue Reading
Mexico, the largest recipient of U.S. gasoline exports, is seeking to cancel imports of the fuel from at least one U.S. company amid the rippling effects of the coronavirus on Continue Reading
As the oil price crash squeezes oil companies across the globe, Mexico’s Hacienda Hedge is set to deliver $6.2 billion to the Latin American country, Mexico’s President Manuel Lopez Obrador Continue Reading
The oil price meltdown will affect Mexico’s economy and is bound to deepen the global economic crisis, Mexican President Andrés Manuel López Obrador said on Tuesday, a week after he Continue Reading
With crude prices collapsing, Mexico’s president says his country will shut down new wells in a move that comes just over a week after he almost wrecked a global oil Continue Reading
Investment in Mexico’s offshore oil sector is set to plunge by 21 percent between 2020 and 2025 compared to previous expectations, as the price crash and the financial issues of Continue Reading
Mexico’s Pemex is looking for joint venture opportunities, the country’s energy regulator said. That’s despite the president’s decision to suspend all new bidding rounds and review all contracts with foreign Continue Reading
Mexico’s Pemex has too much gasoline and nowhere to store it, potentially racking up significant ship fees as demand wanes because of the fast-spreading coronavirus. A lack of storage capacity in Continue Reading
As of April 15, Mexico, the world’s 10th-most populous country, had recorded 5847 cases and 449 deaths related to COVID-19, far behind the figures reported by its northern neighbor, the Continue Reading
While Mexico’s leftist President Andrés Manuel López Obrador wants to make state oil firm Pemex the pillar of a turnaround in the country’s declining oil production, hundreds of Pemex workers Continue Reading
This weekend, OPEC and its partners managed to agree on a historic oil production cut to the tune of 9.7 million bpd. The initial number the cartel eyed was 10 Continue Reading
Mexico will reduce its oil output by 100,000 barrels per day (bpd) from May after top oil producers collectively agreed to cut production by 9.7 million barrels per day at Continue Reading
Outside of Saudi Arabia and Russia, most oil producers are racing to deal with the historic oil price collapse by cutting back spending and in some cases production. But Mexico’s Continue Reading
Mexico President Andrés Manuel López Obrador promised Monday to stick with his modest economic recovery plan after the country’s main business groups reacted negatively to the proposal, which would expand Continue Reading
Mexico’s most powerful business lobbies said on Monday that President Andres Manuel Lopez Obrador’s plans to lift the Mexican economy out of a coronavirus-induced crisis were insufficient and more was Continue Reading
Mexico’s President Andres Manuel Lopez Obrador on Sunday will outline measures to alleviate the economic impact of the coronavirus outbreak with a focus on shielding the poor but is likely Continue Reading
Residents asked to remain at home as cases near 1,000 Social distancing could cut demand, imports by 400 MMcf/d As the number of reported coronavirus cases in Mexico continues to Continue Reading
Mexicans on Wednesday feared measures to contain the coronavirus outbreak would lead to widespread looting after criminals robbed stores that were closed and posted calls on social media for people Continue Reading
Petroleos Mexicanos has been in an unrelenting downward spiral for decades. Pemex, Mexico’s state-owned oil company, has seen a vast and speedy decline of its production rates for the last Continue Reading
Mexican state-owned oil firm Petróleos Mexicanos (Pemex) reported on Thursday a net loss of US$8.77 billion (169.8 billion Mexican pesos) for the fourth quarter of 2019, widened from a loss Continue Reading
Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government. The global oil major Continue Reading
Although the populist economic policies of Mexican President Andres Manuel Lopez Obrador haven’t triggered a significant slowdown in the country’s economy, the reversal of his predecessor’s liberalizing energy reforms are Continue Reading
Mexico’s future is in large part dictated by the future of its oil and gas industry, and the rolling back of landmark energy reforms has now put that all in Continue Reading
The largest oil hedge in the world cost Mexico “ around $1 billion ” for 2020, Mexico’s Finance Minister Arturo Herrera said on Thursday, according to Reuters. Herrera had said Continue Reading
Pemex’s massive new oil discovery at the Quesqui field might paradoxically prove to be the worst news of 2019 for Mexico’s energy sector, as it will be used to justify Continue Reading
US gas exports to Mexico could see significant upside in 2020, thanks to recent infrastructure upgrades and growing, latent demand south of the border. Any potential growth in southbound volumes, Continue Reading
