The Mexican subsidiary of U.S. railroad operator Kansas City Southern expects its gasoline transport business to grow at least 15 percent by volume this year, and possibly much more, a Continue Reading
On February 15 President Andrés Manuel López Obrador (AMLO) announced the launch of Pemex’s Strengthening Programme, a six-year plan designed to improve the company’s financial position through the liquidation of Continue Reading
The Mexican government plans to use money from a public income stabilization fund to help reduce the sizeable debt pile that state energy major Pemex has accumulated. Reuters reports , Continue Reading
Highlights 80% of work to develop 20 new fields awarded Company will develop every discovery it finds going forward Lopez Obrador says NOC will be more efficient than private operators Continue Reading
The Mexican government will invite four firms to bid on the construction of an $8 billion refinery for state oil company Pemex, officials said Monday, as President Andres Manuel Lopez Continue Reading
Mexico’s national oil company Pemex plans to triple the number of wells it will drill this year, the company’s chief executive said on Monday, in a bid to grow crude Continue Reading
Mexico’s state-run Pemex could delay to next year a call to energy companies to form joint ventures planned for October, amid government complaints that these firms have not invested quickly Continue Reading
Mexico’s President Andrés Manuel López Obrador does not rule out a possible listing of the ailing state oil firm Pemex on the local market. Pemex could also issue a new Continue Reading
Mexican President Andres Manuel Lopez Obrador on Tuesday denied any delay to a flagship refinery project in his home state after the deputy finance minister was quoted as saying $2.5 Continue Reading
The president’s spokesman declined to confirm or deny information Cancellation of auction rounds would make Mexico produce 600,000 b/d less in the long term Mexico City — Mexico could reconsider Continue Reading
Mexico’s government will likely announce “significant” new measures to help Pemex later this month, Finance Minister Carlos Urzua said on Friday, as the state oil company tries to avert a Continue Reading
Mexico will continue to need U.S. natural gas imports over the next decade, despite efforts by the new Mexican government to reduce dependence on American natural gas, data and analytics Continue Reading
Ratings agency Standard & Poor’s (S&P) on Monday slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up Continue Reading
Mexico Pacific Limited is pursuing a mid-scale LNG export project in Mexico’s Sonora state. Mexico Pacific Limited (MPL) has awarded KBR, Inc. a pre-front end engineering design (pre-FEED) contract for Continue Reading
Auctions scheduled later this year to pick joint venture partners for Mexican state oil company Pemex will proceed, an official at the national oil regulator said on Thursday, despite the Continue Reading
One of the seven members on the governing panel of Mexico’s National Hydrocarbons Commission (CNH) has stepped down citing personal reasons halfway through his term, Reuters reports , adding this Continue Reading
Mexico’s central bank on Wednesday cut its economic growth forecasts for this year and next, flagging the risk of rating downgrades to the country and state-run oil firm Pemex, and Continue Reading
Mexican state oil company Pemex said on Wednesday its losses narrowed in 2018, helped by currency exchange gains as crude production and refining rates continued to decline. Pemex, Mexico’s largest Continue Reading
The equivalent of 1,145 truckloads of oil is stolen in Mexico per day from PEMEX – the state-owned petroleum company. That’s 146 billion Mexican Pesos (USD$7.4 billion) in lost revenue Continue Reading
Mexico’s Pemex produced 1.62 million barrels of crude per day in January, less than any month in almost three decades, the state-owned oil company said on Friday, underscoring the challenges Continue Reading
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
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 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
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 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 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
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 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
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
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
A massive fireball that engulfed people scooping up fuel spilling from a pipeline ruptured by thieves in central Mexico killed 21 people and badly burned 71 others in what was Continue Reading
At least 21 people were killed and 71 were injured on Friday when a pipeline ruptured by suspected fuel thieves exploded in central Mexico as dozens of people tried to Continue Reading
Fuel continues accumulating at Mexico’s ports and storage terminals, the government and state-run Pemex said on Wednesday, as the government struggles to accelerate deliveries to gas stations via truck instead Continue Reading
Mexico’s government, dealing with fuel shortages stemming from a crackdown on theft, is expected to postpone a new rule requiring pumping stations to sell cleaner diesel, according to sources with Continue Reading
Mexican President Andres Manuel Lopez Obrador said on Tuesday that widespread fuel theft extended to oil drilling platforms and he pledged to take actions to alleviate shortages sparked by his Continue Reading
Despite a call to increase imports from President Andres Manuel Lopez Obrador, Mexico’s gasoline shortages are unlikely to be eased as logistical restraints prevent supply from moving inland. Receive daily Continue Reading
Conceived as a bold plan to attack corruption, a crackdown by Mexico’s new president on rampant fuel theft has turned into a battle to prevent economic chaos after state governments, Continue Reading
Gasoline shortages in Mexico sparked by a government crackdown on fuel theft prompted warnings from business leaders that industries like carmaking will suffer if the problem persists, while lines at Continue Reading
A major fuel pipeline that supplies Mexico City remained closed after suffering two ruptures in a single day, the president said on Friday, as the government works to stem shortages Continue Reading
President Andres Manuel Lopez Obrador has launched the most sweeping attack against rampant corruption and organized crime of his young administration: aiming to stop a growing fuel theft racket that Continue Reading
Seaborne gasoline imports from the U.S. Gulf Coast have averaged about 350,000 barrels a day under Mr. López Obrador, a 28% decline from December 2017 and January 2018, according to Continue Reading
Pemex’s 173,000 b/d Tuxpan-Poza Rica-Azcapotzalco gasoline and diesel pipeline was shut Thursday night again after a new leak was found after being restarted earlier that day, President Andres Manuel Lopez Continue Reading
Mexico completed its 2019 oil hedge, the world’s largest sovereign derivatives trade, at an average of $55 per barrel, placing the equivalent of $1.23 billion in put options, the finance Continue Reading
With huge queues at fuel stations and panicked customers lining up with jerry cans, Mexico’s new leftwing president Andrés Manuel López Obrador has upset the public as he wages the Continue Reading
Key Mexican oil refineries are shut down, Mexico’s president said on Thursday, as the government’s drive to stamp out gasoline theft from pipelines is pressuring the distribution of supplies from Continue Reading
Gasoline shortages in Mexico sparked by a government crackdown on fuel theft prompted warnings from business leaders that industries like carmaking will suffer if the problem persists, while lines at Continue Reading
One of the world’s biggest oil producers is facing a man-made crisis: Its gas stations are running out of gas. There are mile-long lines at filling stations across central Mexico. Continue Reading
Mexican President Andres Manuel Lopez Obrador said on Tuesday a military-assisted crackdown had dramatically reduced fuel theft and uncovered a secret pipe that was used to siphon gasoline out of Continue Reading
An offensive by Mexico’s new government against fuel theft at one of the country’s main refineries has led to days of shortages at gas stations in several central states, as Continue Reading
Mexico’s military have taken control over 58 key fuel installations in the country, including refineries, upon orders by new President Andres Manuel Lopez Obrador, who has vowed to fight corruption Continue Reading
