Kicking Mexico’s Addiction To U.S. Natural Gas
Mexico is looking for ways to reduce its overwhelming dependency on U.S. natural gas imports, which currently satisfy over 50 percent of its demand. This is the highest foreign gas Continue Reading
How Pemex ‘destroyed’ $1 billion with erratic business choices
Mexico’s state oil company Pemex burned through $665 million at its fertilizer unit, ignored consultants and made high-risk investments with no discernible business strategy, according to a devastating government audit Continue Reading
Mexico to inject $3.6 billion in Pemex, seeks to prevent credit downgrade
Mexico will inject $3.6 billion into ailing state oil company Pemex, officials said on Friday, promising to strengthen its finances and prevent a further credit downgrade, although investors saw the Continue Reading
Tax Cuts Or Not, Mexico’s Pemex Is Doomed
Last week a hefty package of $3.5 billion worth of tax cuts were granted to the struggling state oil company Petroleos Mexicanos (Pemex) to be spread over the next six Continue Reading
Mexico Cut Off U.S. Oil Imports as Fuel Ran Low
Mexico has stopped buying U.S. light crude oil under its new president, a decision that former government officials say has likely aggravated the country’s gasoline shortage crisis. President Andrés Manuel Continue Reading
Crude oil production from Mexico’s Pemex up slightly in December
Crude production from state-owned oil company Pemex averaged 1.71 million barrels per day (bpd) in December, up 0.8 percent compared to output the previous month, according to company data published Continue Reading
Can Mexico Stop Its Oil Production Decline?
Five years after former president Enrique Peña Nieto ended Pemex’s monopoly and opened Mexico’s oil industry to private foreign investment, the new administration is betting again on the state oil Continue Reading
Mexico completes purchase of 670 fuel trucks as shortages continue across several states
Mexico City — The Mexican government said Thursday it had closed the purchase of 670 distribution trucks as fuel shortages continue in several states amid its fight against fuel theft. Continue Reading
Offshore Mexico Appraisal Well Encouraging
The Zama appraisal program includes three penetrations. Talos Energy reported late Wednesday that the initial phase of appraisal drilling near its Zama-1 discovery in Block 7 offshore Mexico was concluded. Continue Reading
Missteps in Mexican pipeline blast trigger new scrutiny of fuel plan
Mexico’s new government knew a pipeline was leaking but did not act for hours before a blast killed at least 85 people, a minister said on Sunday, increasing scrutiny of Continue Reading