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
President Trump is on track to secure a political victory by forging a breakthrough with congressional Democrats to update the North American trade pact. But in a sign the agreement Continue Reading
Quesqui field holds estimated 500 million barrel 3P reserve Crude production forecast to reach 110,000 b/d by 2021 Denver — Pemex’s largest hydrocarbon reserve discovery in 30 years is boosting Continue Reading
Mexico private imports at 27.78% of total share Increased Pemex production not enough to meet demand Private imports to grow along with storage in 2020 Houston — Growing infrastructure investments Continue Reading
With Mexico’s government insisting that energy companies increase oil and gas output before it auctions off more of the country’s vast reserves or offers more partnerships with state-run Pemex, firms Continue Reading
Mexico plans to shortly launch a tender for the construction of a natural gas pipeline between the Tuxpan port on the eastern coast to Cancun and Merida on the Yucatan Continue Reading
The communications system of Mexico’s oil giant Pemex is still suffering the lingering effects of a cyberattack that occurred earlier this month, sources from the company told Bloomberg. A ransomware Continue Reading
Mexico’s oil hedgers, one of the world’s most-active sovereign oil-trading desk, has spent nearly $1 billion on options contracts to protect the government’s revenues from oil sales for 2020 against Continue Reading
Pemex, Mexico’s debt-burdened state oil producer, has reported a fourth consecutive quarterly loss but lauded a slight increase in crude output as a hopeful sign for the strained finances of the Continue Reading
The audio recordings are part of the evidence in a lawsuit filed last year against the Mexican government by a Mexican oil-field drilling company called Oro Negro. The company claims Continue Reading
Every couple of minutes, a large truck splattered with mud rumbles through the gate to what was once an expanse of mangroves. After recent rains, a lake has formed where Continue Reading
Pirate activity in the Gulf of Mexico is on the rise and so is oil theft from platforms operating in the area, Fox News reports , with losses for Pemex Continue Reading
Pemex is reportedly seeking a way to take over an offshore oil exploration project in the Gulf of Mexico that is currently developed jointly by the Mexican major and U.S. Continue Reading
When U.S. oil firm Talos Energy found nearly a billion barrels off Mexico’s southern Gulf coast two years ago, it marked the first discovery by a foreign firm since the Continue Reading
Mexico’s new government came into power with promises to turn around the country’s oil industry and boost production after, it said, the previous government failed. Despite these promises and the Continue Reading
Mexico’s controversial Dos Bocas oil refinery project will indeed be built despite investor criticism, Mexican Energy Minister Rocio Nahle said during a radio broadcast on Thursday, reported by Reuters . Continue Reading
Pemex has failed to convince ratings agency Moody’s Investor Services with its newly unveiled business plan, an analyst for the Mexican state oil company said on Wednesday, adding that the Continue Reading
President Andrés Manuel López Obrador presented the Business Plan of Petróleos Mexicanos (Pemex) this morning for 2019-2023, stating that the Plan he is supporting he has acted in Pemex’s best Continue Reading
The Mexican government will propose an additional tax reduction for heavily indebted state oil company Pemex [PEMEXF.UL] in the nation’s 2020 budget, President Andres Manuel Lopez Obrador said Thursday, the Continue Reading
Emilio Lozoya was Pemex’s chief executive until 2016 An arrest warrant has been issued for Emilio Lozoya, former chief executive of Mexican state oil company Pemex, prosecutors say. He is Continue Reading
Mexico’s state oil firm Pemex plans to pursue an ultra-deepwater project in the Gulf of Mexico despite limited resources and despite recent pledges to avoid riskier endeavors in which it Continue Reading
Mexico’s leftist president Andrés Manuel López Obrador won the election in a landslide last year, thanks in large part to his promise to crack down on corruption throughout the Mexican Continue Reading
An $8 billion syndicated loan to Mexico’s national oil company Pemex is a sign of confidence by more than 20 banks involved in the operation, Mexican President Andres Manuel Lopez Continue Reading
Mexico has nearly finished reworking the formula it uses to hedge its oil production, a finance ministry official said on Friday, including changes to how it factors fuel oil prices Continue Reading
Mexico’s President Andrés Manuel López Obrador—who criticizes his predecessor’s energy reforms— said on Thursday that the natural gas pipeline contracts that the previous administration had signed were ‘abusive’ and ‘unfair’ Continue Reading
Delayed startup of the Sur de Texas-Tuxpan pipeline, which could continue indefinitely amid possible arbitration proceedings by Mexico’s CFE , already appears to be impacting South Texas gas supply. Over Continue Reading
It is unlikely the Sur de Texas-Tuxpan natural gas pipeline offshore Mexico will begin operating if state power utility CFE proceeds with arbitration over capacity payments made while the already-delayed Continue Reading
Mexico’s planned US$8-billion oil refinery in the home state of President Andrés Manuel López Obrador would have a ‘severe’ impact on air quality in the area, Reuters reported on Thursday, Continue Reading
Mexico’s state-owned producer Pemex reported a continued decline in its crude oil production last month, which was partially offset by a modest uptick in condensates, natural gas liquids and gas Continue Reading
Mexican President Andrés Manuel López Obrador has been a vocal critic of the energy reform of his predecessor Enrique Peña Nieto, who opened in 2013 Mexico’s oil and gas sector Continue Reading
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
Petroleos Mexicanos will focus on shallow water projects and onshore plays, and avoid investing in its deepwater riches for now, as the ailing Mexican state-run oil company seeks to turn Continue Reading
Mexico’s state oil producer Pemex is on the brink of making history as the global bond market’s largest “fallen angel” ever, but in the eyes of the fixed-income world, the Continue Reading
Mexican President Andres Manuel Lopez Obrador’s push to build a new oil refinery involves high risks of flooding and other environmental issues, according to government documents published late on Tuesday, Continue Reading
Recently the Trump Administration announced plans to impose a 5 percent tax on all goods imported from Mexico unless “the illegal migration crisis is alleviated.” These tariffs would potentially rise Continue Reading
Mexico’s oil regulator plans to announce the cancellation of auctions scheduled for October to pick joint venture partners for state-run energy company Pemex in seven onshore areas, two sources close Continue Reading
Trump backed off his proposed trade war with Mexico in the face of intense pressure from business groups and even his own party, but his faith in tariffs remains unbowed. Continue Reading
Ilana Panich-Linsman for The New York Times WASHINGTON — The Mexican foreign minister said Monday that no secret immigration deal existed between his country and the United States, directly contradicting Continue Reading
U.S. refiners and motorists may have dodged a bullet after the U.S. suspended indefinitely the threat to impose tariffs on all imports from Mexico after reaching a deal on immigration Continue Reading
