Mexico Awards 21 Oil and Gas Blocks in Two Auctions
The Mexican government on Wednesday awarded 21 oil and gas blocks across the country in two auctions which put private-sector interest in developing gas in Mexico to the test. In Continue Reading
Mexico Sees Another Four Oil Tenders By End-2018
Mexico is planning to hold four more oil and gas block tenders by November 2018 as part of efforts to ensure the sustainability of its energy industry and make better Continue Reading
Mexico’s Oil Reserves Fall In Spite Of Oil Major Interest
In dollar terms, since mid-2015 Mexico has been a net importer of hydrocarbons (oil, natural gas, petroleum products and petrochemicals combined). To date it has been a relatively small and Continue Reading
Trump Approves New U.S.-Mexico Petroleum Pipeline
To boost American energy exports, the administration of U.S. President Donald Trump has approved the construction of a new petroleum pipeline from the U.S. to Mexico that “ will go Continue Reading
MEXICO Oil Reserves and Production
In dollar terms, since mid 2015 Mexico has been a net importer of hydrocarbons (oil, natural gas, petroleum products and petrochemicals combined). To date it has been a relatively small Continue Reading
Mexico Awards 10 of 15 Blocks in Oil Auction
Mexico awarded 10 blocks of oil and gas for exploration and development to bidders from 10 different countries, including some of the world’s major oil companies, at an auction in Continue Reading
Mexico awaits next oil round with cautious optimism
A flare stack of the refinery of Mexico’s national oil company Pemex is seen in Cadereyta, Mexico, December 20, 2016. Mexico is looking forward to its next round of offshore Continue Reading
Gas Looting In Mexico Turns Deadly
On May 3, a government investigation into illegal pipeline taps in the central state of Puebla turned violent. Gunmen using local civilians as human shields opened fire on army officials, Continue Reading
Mexico’s Pemex Raises Oil Output, Fuel Production In Q1
Mexico’s state energy major Pemex has increased its oil output and the amount of crude it feeds into its refineries, with exports to the U.S. and Asia declining over the Continue Reading
Pemex seeks investors for its refineries, but who’s buying?
Sweeping energy reforms have turned Mexico into one of the world’s most attractive offshore prospects, but one segment is getting no love from U.S. investors: the nation’s aging refineries. Efforts Continue Reading
Mexican Soldiers, Alleged Fuel Thieves Killed in Shootouts
Clashes between soldiers and alleged fuel thieves left 10 people dead and nearly a dozen more injured in central Mexico, the military and state officials said Thursday. Four soldiers and Continue Reading
What Mexico’s Falling Exports Mean For Oil Prices
Oil prices are unable to get up off the canvas, as signs of global market rebalancing continue to be errant. With the first weekly EIA report of the month on Continue Reading
Mexico’s Pemex approves new deep water Gulf joint venture
The logo of Mexico’s state-owned company Pemex is pictured at a refinery in Cadereyta, on the outskirts of Monterrey, Mexico, April 20, 2017. The board of Mexico’s state-owned oil company Continue Reading
Mexico’s Pemex will look to repeat new hedging program
Mexican state-owned oil company Pemex will consider repeating a recently instituted hedging program in future years, as it looks to firm up its balance sheet and avoid the need for Continue Reading
Wall St. Gears Up For The World’s Biggest Oil Trade
International banks are preparing for the Hacienda Hedge – the secretive oil deal that has seen Mexico earn billions from successful bets on future oil prices. Detailed in an analysis Continue Reading
Canadian Oil Disruption, OPEC Output Cuts Open Door for Mexico
Canadian crude shipments to the U.S. are poised to shrink just as the effects of OPEC-led output cuts are being felt in the Caribbean. That’s good news for Mexico and Continue Reading
Are Mexico’s Oil Reserves Almost Depleted?
Mexico’s oil and gas regulator said last week that the country’s proved hydrocarbon reserves will drop by 10.6 percent in 2017. This forecast, coupled with the lower oil production that Continue Reading
Canadian Oil Disruption, OPEC Output Cuts Open Door for Mexico
Canadian crude shipments to the U.S. are poised to shrink just as the effects of OPEC-led output cuts are being felt in the Caribbean. That’s good news for Mexico and Continue Reading
Down 10%, Mexico Oil Reserves Gone in 9 Years Without New Finds
Mexico’s existing oil reserves are dwindling so fast the country could go dry within nine years without new discoveries. That’s the message from the National Hydrocarbons Commission, which said Friday Continue Reading
Newest Texas Refineries Plan to Turn Shale Into Fuel for Mexico
The newest oil refineries in Texas are looking to join the hottest two plays in the North American oil industry. Raven Petroleum LLC and MMEX Resources Inc. are building refineries Continue Reading
Analysis: Mexico refinery output rebounds as product imports move lower
Refinery production in Mexico is showing some recovery this year after the big drop experienced in 2016, an uptick that might have contributed to lower product imports so far this Continue Reading
Oil breakthrough for Mexico with Eni discovery
Italian energy company Eni said Thursday it confirmed the potential for oil offshore Mexico in the first drilling campaign by a foreign company since 2013. Eni said it confirmed the Continue Reading
Is Mexico’s Oil Boom Under Threat?
In 2013, Mexican President Enrique Pena Nieto launched the Reforma Energética (RE) to reverse the nation’s decline in oil production and encourage green energy initiatives by ending the monopoly of Continue Reading
Mexico’s Pemex sharply reduces losses as oil prices rise
Mexican state-owned oil company Pemex on Monday reported a much smaller fourth-quarter loss, due in large part to higher crude prices. The loss narrowed to $1.58 billion (32.6 billion pesos) Continue Reading
Mexico turns to the Jurassic era for shale oil
Mexico’s plans to develop its shale oil resources have finally taken a step forward following years of largely fruitless efforts by the state owned company Pemex. Canada’s Renaissance Oil and Continue Reading
Mexico says gasoline costs to fall slightly, prices set daily next week
A man points a nozzle at the camera at a Pemex petrol station in Mexico City, Mexico February 3, 2017. Mexico’s Finance Ministry said on Friday that national gasoline prices Continue Reading
Mexico City, Parched and Sinking, Faces a Water Crisis
On bad days, you can smell the stench from a mile away, drifting over a nowhere sprawl of highways and office parks. When the Grand Canal was completed, at the Continue Reading
Mexico’s Pemex Sets Euro Corporate Debt Record with $4.49 Billion Issue
Mexico’s national oil company Petróleos Mexicanos issued €4.25 billion ($4.49 billion) in bonds Tuesday, the largest euro-denominated emerging market corporate bond deal on record. Emerging market investments have recovered from Continue Reading
Trump’s Mexican Standoff May Send U.S. Gas to $2 If Exports End
Natural gas prices in the U.S. may tumble about 40 percent if President Donald Trump’s diplomatic showdown with Mexico becomes an all-out trade war. Prices could slide to $2 per Continue Reading
Mexico’s Growth Slows as Oil Output Drop Outweighs Services
Mexico’s growth slowed in the fourth quarter, dragged down by falling oil production, even before the full impact of President Donald Trump’s potential to hurt the economy was fully felt. Continue Reading
Pemex Refinery Output Hits Lowest Since 1990
Petroleos Mexicanos ’s refinery output in 2016 fell to the lowest level in 26 years as government budget cuts forced the Mexican state oil company to delay maintenance. Only three Continue Reading
Trump’s Border Tax Could Further Reduce Mexico Oil’s U.S. Ties
U.S. President Donald Trump’s proposed tariff on Mexican goods has the country’s oil industry considering just how much it needs the American market. A 20 percent border tax to build Continue Reading
U.S. Gas May Be One Trade That Survives Trump’s Mexico Clash
U.S. Stands to Suffer in Border War With Mexico It could take more than a political standoff between President Donald Trump and Mexico to keep U.S. shale gas from flowing Continue Reading
Mexico’s Pemex imports first diesel cargo via train from U.S.
Mexico’s state oil company Pemex began receiving imported fuel by train at a new privately run terminal for the first time in January as companies expand storage and transportation operations Continue Reading
Despite Plunging Peso, Wildcatters Try Making Money on Oil in Mexico
Wildcatters are crossing the border into Mexico to pour money into the country’s recently deregulated energy sector, betting that the plunging peso and other economic stress won’t disrupt their business. Continue Reading
Pemex Is So Cash-Starved It’s Selling a Little League Baseball Field
Pemex has put a kids’ recreation park up for sale as it combs through its assets searching for property it can exchange for needed cash. Mexico’s state-run oil company, which Continue Reading
Mexico president tries again to calm anger over gas hike
Mexico’s president tried again on Thursday to calm anger over the big jump in gasoline prices this month amid a historically weak currency and continued threats by Donald Trump to Continue Reading
Oil, Trump, leave Mexico in dire economic straits
Mexico, the second largest economy in Latin America, is facing economic headwinds because of lower oil prices and U.S. trade policy, a study finds. The New Year brought new challenges Continue Reading
600 Hundred Arrested And 1 Dead As Mexican Gas Price Protests Intensify
Some 600 people have been arrested, one policeman killed and around 300 stores looted as protests intensify in Mexico following the weekend decision to hike fuel prices by 20 percent, Continue Reading
Mexican Drug Cartels Threaten To Blow Up Gas Stations Over Massive Price Hike
While Mexico has reasons to be concerned about the upcoming presidential inauguration of Donald Trump, who has vowed to make life, and especially trade relations, for Mexicans far more “complicated” Continue Reading
Weaknesses in Mexico’s oil sector are creating ‘chaos’ during the holiday season
The holiday season has been a little less merry for car owners in Mexico as gasoline shortages in many parts of the country have forced grumbling customers to contend with Continue Reading
Mexicans are outraged over a big hike in gas prices on Jan. 1
Mexican motorists awoke to a shock as gasoline prices at the pump shot up by more than 20 percent in some corners of the country on the first day of Continue Reading
US gasoline exports to Mexico hit record high on refinery issues, strong demand
Mexico’s record-low refinery production and growing consumer demand helped push US gasoline exports there to a new high in October, a trend that has boosted prices in both countries. Gasoline Continue Reading
Mexico: Gasoline Prices Expected To Rise By As Much As 20 Percent In January
Gasoline prices in Mexico will rise by as much as 20 percent at the start of January, the country’s Finance Ministry said Dec. 27, Reuters reported. The price increase was Continue Reading
U.S. refiners cash in on Mexico’s record fuel imports
U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply Continue Reading
Mexico Gasoline Prices to Surge by the Most in Two Decades
Mexico will raise gasoline prices by as much as 20 percent in January, stoking inflation that’s already running at the fastest pace in almost two years. A month after the Continue Reading
U.S. Natural Gas Needs Mexico
The United States became a net exporter of natural gas in November 2016, a development driven by falling imports (due to high domestic natural gas production) and rapidly increasing natural Continue Reading
U.S. refiners cash in on Mexico’s record fuel imports
U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply Continue Reading
Mexico Eyes Higher Oil Output Than Venezuela, Brazil
Mexico plans to increase its crude oil production substantially, overtaking both Venezuela and Brazil if its plans work out. This has emerged after earlier this week, the country awarded nine Continue Reading
Australia’s BHP Billiton Wins Bidding for Stake in Mexico’s Trion Oil Field
Australia’s BHP Billiton won bidding Monday to partner with Mexican state oil company Petróleos Mexicanos in the Trion deep-water oil field in the Gulf of Mexico in an auction in Continue Reading