Mexico awarded China Offshore Oil Corporation the fourth block tendered from the Gulf of Mexico’s Perdido Fold Belt off the U.S.-Mexico maritime border in a historic deep water oil and Continue Reading
Some of the world’s best-known oil majors are expected to compete in a long-awaited auction for deepwater contracts in Mexico on Monday that marks a key opening of the country’s Continue Reading
Mexico is preparing to auction rights to drill in the oil-rich deep waters of the Gulf of Mexico, considered the crown jewel of the country’s energy industry, which only opened Continue Reading
In Mexico, the era of big oil is just getting started. But for the state oil dinosaur, its best days appear to be behind it. The reign of Petroleos Mexicanos, Continue Reading
Chevron Corp. has joined forces with Petroleos Mexicanos and Japan’s Inpex Corp. to bid next week for the right to explore for oil and natural gas, the first time the Continue Reading
The town that oil built is emptying out. “For Sale” signs are plastered on concrete-block houses and sun-bleached bungalows alike. The idled oil workers who used to cluster in the Continue Reading
When a massive country de-nationalizes its entire energy sector and opens its oil and gas doors for the first time ever to foreign companies, the opportunities are staggering. Welcome to Continue Reading
Donald Trump’s presidency is widely viewed as a boon for the U.S. energy industry, but some of his planned policies could pose problems for the natural-gas business. Mr. Trump has Continue Reading
Hydrocarbon storage Two of Donald Trump’s main pledges during the presidential race were building a wall along the border with Mexico, and making the U.S. energy-independent. Now that the election Continue Reading
Cargoes would be first in eight years amid Asian competition California refineries mainly buy from Saudi Arabia, Canada Mexico is targeting U.S. West Coast refineries to boost sales of its Continue Reading
New discoveries made off the eastern coast of Mexico have the potential to produce more than 20,000 barrels of oil per day, the state energy company said. Mexican state oil Continue Reading
Finance Minister sees possible cut around 100 billion pesos Pemex budget cuts continue to exacerbate oil production losses Mexico will continue to hack into the budget of its oil producer Continue Reading
U.S. oil majors ExxonMobil, Chevron and Hess will bid jointly in the upcoming deepwater oil and gas tender planned by Mexico. The auction, which will take place on December 5, Continue Reading
Morgan Stanley sees dramatic production drop in coming years Cash flow gap forecast to reach record $22 billion this year Petroleos Mexicanos’ deteriorating finances are poised to get much worse, Continue Reading
World’s largest sovereign oil hedge started earlier than usual Mexico spends about $1 billion a year locking in prices Mexico started quietly buying contracts to lock in 2017 oil prices Continue Reading
The petroleum industry in Mexico dates back over a century to 1901 where the commercial production of crude oil began. Since then, both Great-Britain and the United States played major Continue Reading
Producer has deferred purchases of light crude from U.S. Refinery woes, smaller profit margins said to stall plans Ten months after Mexico won special dispensation to import U.S. crude oil, Continue Reading
A U.S. appeals court on Tuesday upheld a decision confirming a $465 million judgment won through arbitration by a unit of KBR Inc in a contract dispute with Mexico’s national Continue Reading
Mexico oil company hasn’t reported positive results since 2012 Pemex had plant explosion, received capital injection in 2Q Petroleos Mexicanos added to more than three years of losses as a Continue Reading
Mexican state oil company Petróleos Mexicanos on Thursday said it recorded an after-tax loss of $4.4 billion in the second quarter, as lower oil prices and output hit sales and Continue Reading
Mexican state oil company Pemex expects to boost crude output over the next few years with a handful of joint ventures that will focus on onshore and offshore fields, a Continue Reading
Mexico’s national oil company Pemex said on Friday it may be forced to shut its largest refinery in the next few days if ongoing protests in the southern state of Continue Reading
Mexico’s national oil company plans a wave of new asset sales and production partnerships to navigate through the oil price downturn and stabilize soaring debt and falling production levels, its Continue Reading
Back in the late 1980s, the air got so dirty in Mexico City that birds would emit a final chirp before they tumbled from the trees onto the sidewalk, their Continue Reading
Statoil ASA may seek to partner with Petroleos Mexicanos in Mexico’s deepwater fields as the producer looks to gain a foothold in the country’s recently opened energy market. “We see Continue Reading
For the first time in nearly eight decades, the ubiquitous Pemex gas stations have competition along Mexico’s highways and city streets. Two companies have opened three gas stations under their Continue Reading
Mexican state oil giant Pemex has until 2018 to meet new fuel quality standards that will affect 40 percent of its diesel production that does not yet comply, the energy Continue Reading
Petroleos Mexicanos is in talks with Exxon Mobil Corp., Total SA and Chevron Corp. as Mexico’s struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Continue Reading
The winners of acreage from the first three bidding rounds in Mexico last year are moving ahead on plans to develop oil from the country’s major energy reforms, with the Continue Reading
Petroleos Mexicanos posted a loss for the 14th consecutive quarter as massive spending cuts diminish the state oil producer’s ability to arrest years of declining production. The first-quarter loss narrowed Continue Reading
Donald Trump wants a wall along Mexico’s northern border. Energy companies are perforating it with pipelines. They are laying steel pipes, some beneath the Rio Grande riverbed, to export billions of Continue Reading
Rescue teams recovered four bodies Sunday at the site of an explosion at a petrochemical plant in southern Mexico , bringing the number of workers killed in the accident to Continue Reading
Mexichem has declared force majeure on one internal contract in the wake of a blast at a petrochemical plant that killed at least 24 people, the company’s Chief Executive Officer Continue Reading
The death toll from an explosion at a petrochemical plant owned by chemicals company Mexichem SAB and state oil company Petróleos Mexicanos has risen to 13, Pemex Chief Executive José Continue Reading
A marked rise in U.S. oil options volatility for contracts expiring in 2017 has sparked speculation among traders that the market is preparing for Mexico’s annual hedging program, worth billions Continue Reading
An explosion rocked a major petrochemical facility of Mexican national oil company Pemex in the Gulf state of Veracruz on Wednesday, killing at least three people and injuring dozens more, Continue Reading
Mexican officials are setting out to assure investors of government support for state oil company Petróleos Mexicanos after the firm received a $4.2 billion financial lifeline to help it through Continue Reading
Mexico’s government said Wednesday it will support troubled state-oil firm Petróleos Mexicanos, or Pemex, with $4.2 billion in fresh capital and money to make this year’s pension payments, a step Continue Reading
The Mexican government will provide a capital injection of Peso 73.5 billion ($4.2 billion) for Pemex that analysts described as the first salvo in a battle to defend the survival Continue Reading
Mexico will use $13.6 billion from a central bank surplus to pay down debt and boost its rainy day fund, shoring up finances as it prepares a support plan for Continue Reading
Mexico plans to cut spending next year in order to meet its zero deficit target as manufacturing exports slowed and lower oil prices weighed on revenue. After slashing 2016 spending Continue Reading
An employee walks at Pemex refinery in Salamanca, Guanajuato state. Mexico’s proven oil reserves fell… MEXICO CITY–Mexico’s proven oil and gas reserves fell sharply last year as oil prices dropped Continue Reading
For the past eight decades, Mexican drivers have had only one choice of filling stations: state oil firm Petróleos Mexicanos. But that is going to change in coming months as Continue Reading
A view of Mexico’s national oil company Pemex’s refinery in Salamanca, in Guanajuato state, Mexico, February 8, 2016. Picture taken, February 8, 2016. Mexican state-run oil company Pemex expects to Continue Reading
Oil companies operating in Mexico’s deep waters must use national suppliers for 8 percent of the projects by 2025, the government said on Tuesday, a relatively low rate meant to Continue Reading
Mexico will hold a private bidding round for the nation’s shale oil fields this year in part to cater to continued interest from U.S. drillers eyeing expansion south of the Continue Reading
Petroleos Mexicanos’ woes are hitting home for suppliers that less than two years back were preparing for an oil boom. Cotemar, one of Mexico’s largest oil service providers, will lay Continue Reading
Petroleos Mexicanos’s financial woes continue to mount as the country’s biggest company reported a 168.9 billion pesos ($9.3 billion) loss in the fourth quarter and laid out plans for deep Continue Reading
Mexico’s state oil company Petróleos Mexicanos, reeling from the drop in world oil prices, will cut 100 billion pesos ($5.5 billion) from its budget this year by deferring investments and Continue Reading
Mexico’s state-owned oil company is taking deepwater development off its plate for now. Driven to rip $5.5 billion out of its budget this year to cope with a lengthening market Continue Reading
