Category: Mexico

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

The world’s biggest and most secretive financial oil trade is facing unusual roadblocks this year. Mexico typically buys as much as $1 billion worth of financial positions to protect its Continue Reading

The United States and Mexico struck a deal on Friday to avert a tariff war, with Mexico agreeing to rapidly expand a controversial asylum program and deploy security forces to Continue Reading

The bonds of Mexican state oil company Pemex took a beating on Friday as investors fretted over chances that Moody’s ratings agency could soon follow Fitch in downgrading the debt Continue Reading

U.S. oil companies are frantically lobbying congressional allies and the White House against President Donald Trump’s plan to slap escalating tariffs on Mexican exports, saying it would hike the price Continue Reading

U.S. refiners warned the Trump administration that tariffs on imports from Mexico could deliver a punishing blow to refiners and raise the cost of gasoline just as the U.S. driving Continue Reading

A Mexican delegation arrived in Washington for meetings with U.S. officials to discuss immigration after President Trump threatened escalated tariffs on all Mexican imports unless it does more to stem Continue Reading

U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. refiners that use Mexican oil by boosting prices, and raising concerns about Continue Reading

Mexican investigators have filed charges with federal prosecutors against the former head of state-run oil company Petróleos Mexicanos in connection with a corruption probe, officials said on Monday. The case Continue Reading

Highlights Pemex expects to add 320,000 b/d from 20 new fields by end of 2021 Company aims to develop 20-40 new fields every year Program to have a major focus Continue Reading

The enormous debt of Mexico’s state oil firm Pemex has not increased since the new administration took office in December 2018, and will not increase in the future, Mexican President Continue Reading

Mexican President Andres Manuel Lopez Obrador took office in December vowing to revive state-owned energy company Pemex and put the brakes on foreign investment to give the public a bigger Continue Reading

The Mexican government has approved a fiscal stimulus measure that could see Pemex raise oil production by as much as 400,000 bpd, S&P Global Platts reports , quoting the country’s Continue Reading

Mexico moved to bolster investor confidence in its embattled state oil company, announcing an unprecedented $8 billion syndicated loan along with new tax breaks for the energy producer. Petroleos Mexicanos Continue Reading

Mexico’s newest oil refinery project is set to exceed the planned budget—and in a big way—according to Moody’s cited by Reuters. The massive undertaking—by Mexico itself, no less—will most likely Continue Reading

President Andrés Manuel López Obrador said state oil company Petróleos Mexicanos would build an oil refinery after bids by private companies came in above his government’s $8 billion budget. The Continue Reading

Mexico’s government is notching some successes in its battle against the country’s fuel thieves, dealing a blow to organized crime and restoring lost revenues to financially troubled state-run oil company Continue Reading

Pemex is struggling–to put it lightly. Petroleos Mexicanos, Mexico’s long-mismanaged state-owned oil company, has been bleeding money as its production levels have fallen to a trickle of their former production Continue Reading

Mexican President Andres Manuel Lopez Obrador said on Tuesday that a government drive to stamp out fuel theft launched days after his administration took office had generated savings of 12 Continue Reading

Amid the differences between the U.S. and Mexico recently, including different views over immigration and trade, relations in the energy patch continues to expand. In fact, energy trade represented 12 Continue Reading

Highlights New fields under development will yield light crude Mexico aims to increase domestic crude refining, curbing heavy exports Pemex needs a significant financial boost to achieve its output potential Continue Reading

Illegal taps on petroleum pipelines increased in both January and February compared to the same months last year despite the federal government’s crackdown on fuel theft.  The state oil company reported Continue Reading

A Mexican think tank has declared that Pemex’s newest refinery is doomed in a grim analysis released this month. The Mexican Institute for Competitiveness (Instituto Mexicano para la Competitividad, or Continue Reading

Mexico’s government will open retail gasoline stations controlled by the army if retailers do not decrease fuel prices, President Andres Manuel Lopez Obrador said Tuesday. Register Now CIF Eastern Mexico Continue Reading

While Mexico suffered the bloodiest year of violent deaths in 2018, even bigger trouble may be ahead for the embattled country. For the first time in more than 50 years, Continue Reading