Mexico Allows Fuel Imports to Lure Investment, Cut Prices
Mexico, which ended a 76-year oil monopoly in 2014, is now speeding the liberalization of the fuel market as it seeks to lure investment and push down prices for consumers, Continue Reading
Foiled by Oil
“Pemex revenues are down 70% in the past 18 months. That is what Peak Oil looks like.” “Oil in the ground is wealth only on paper – you may own Continue Reading
Exclusive: Pemex sees Mexico’s Maya crude as low as $19/barrel by end-March
Mexican state oil company Pemex expects its top-selling Maya heavy crude oil to fall as low as $19 per barrel by the end of March, an internal document seen by Continue Reading
Mexican president replaces Pemex chief as calls to cut costs grow
Mexican president Enrique Peña Nieto has replaced the chief executive at Pemex, the state oil company that is bleeding cash because of the oil price slump, with instructions that all Continue Reading
Pemex’s steady output declines continued in 2015
Petroleos Mexicanos (Pemex) reported liquid hydrocarbons production in 2015 of 2.59 million b/d, down 7% compared with the 2014 total and 10% compared with the 2013 total. Offshore production accounted Continue Reading
Texas Railroad Commission, Mexico Discuss Shale Development
Mexico’s Ministry of Energy (SENER) is seeking to learn how it can replicate the success of South Texas’ Eagle Ford shale. Representatives of Mexico’s National Hydrocarbons Commission (CNH), Ministry of Continue Reading
Mexican Government Considers Capitalization of Pemex
The Mexican government is considering a capitalization of Petróleos Mexicanos to bolster its working capital, but requires that the state oil company come up with a plan to cut costs Continue Reading
Oil Price Slide Puts Pemex in Spotlight
The drop in Mexican crude oil prices this week to around $20 a barrel is likely to put pressure on an already tight budget of state oil company Petróleos Mexicanos, Continue Reading
Mexican Crowds Defy Authorities, Steal Diesel from Pipelines
Rebellious crowds of people in a rural area in central Mexico are defying police and soldiers by stealing diesel from illegally tapped pipelines, creating the potential for fires that have Continue Reading
Amid Weak Oil Prices, Pemex Touts Its Rock-Bottom Production Costs
With oil prices sinking to levels not seen in more than a decade, Mexican national oil company Petróleos Mexicanos said Tuesday that its production costs are among the lowest in Continue Reading