(Energy Analytics Institute, 25.May.2021) — Energy briefs from the Latin America and Caribbean region including: Pemex’s Deer Park refinery acquisition being labeled a mistake by George Baker and Ecuador’s President Guillermo Lasso taking the helm in the South American oil producing country. LATIN AMERICA AND THE CARIBBEAN Pemex Deer Park […]
Category: Mexico
Mexico energy
Shell to Sell Interest in Deer Park Refinery to Partner Pemex
(Shell, 24.May.2021) — Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex). […]
Pemex To Acquire Shell’s Interest In Deer Park Refinery
(Shell, 24.May.2021) — Shell Oil Company, a subsidiary of Royal Dutch Shell plc, reached agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex). The transaction […]
US Oil Service Group Seeks $100mn From Mexico In Arbitration Claim
(Reuters, 18.May.2021) — A U.S. oil service group introduced a $100 million claim before a World Bank arbitration court alleging Mexico violated investor protections under the NAFTA trade pact by failing to honor agreements, lawyers for the firms and court documents showed. The World Bank’s International Centre for Settlement of […]
BHP Awards McDermott FEED Contract for Trion FPU
(McDermott, 11.May.2021) — McDermott International, Ltd has been selected by BHP PetrĂłleo Operaciones de MĂ©xico, S. De R.L. De C.V., in partnership with Pemex, to provide Front-End Engineering Design (FEED) of a Semi-submersible Floating Production Unit (FPU) for the Trion Project in the Gulf of Mexico. The FPU will be designed […]
Talos Energy Announces 1Q:21 Results
(Talos Energy, 5.May.2021) — Talos Energy Inc. (NYSE: TALO) announced its operational and financial results for the first quarter of 2021. Key Highlights: Successful high-impact sub-salt Miocene deepwater exploration discovery at Puma West, located approximately 15 miles from the prolific Mad Dog field.Successful multi-well drilling program at Green Canyon 18 […]
Mexico Port Works On US-Sanctioned Tankers That Transport Venezuela’s Oil
(Reuters, 30.Apr.2021) — Three Cuban-flagged tankers that are under U.S. sanctions for transporting Venezuelan oil to the Communist-run island have been serviced in the port of Veracruz on Mexico’s Gulf coast, according to vessel tracking data and industry sources. The maintenance work on the vessels — one of which was […]
Vista Oil & Gas Files Annual Report
(Vista Oil & Gas, 28.Apr.2021) — Vista Oil & Gas, S.A.B. de C.V. filed its annual report on Form 20-F for the fiscal year ended 31 December 2020 with the U.S. Securities and Exchange Commission (“SEC”) earlier today, and a Spanish-language 2020 Annual Report (the “Informe Anual CNBV“) with the […]
Vista Oil Releases Sustainability Report
(Vista Oil & Gas, 27.Apr.2021) — Vista Oil & Gas, S.A.B. de C.V. announced the publication of its inaugural 2020 Sustainability Report, underscoring the company’s commitment to embed Environmental, Social and Governance (ESG) practices within its business strategy to create value in the present while building a better future for […]
Pro-Pemex Bill Clears Mexico’s Lower House
(Bloomberg, 22.Apr.2021) — Mexico’s lower house of congress on Wednesday approved a reform to the country’s hydrocarbon law that removes one of the linchpins to promote private competition against state-run oil company Petroleos Mexicanos. The lower house voted 301 in favor, 147 against and two abstentions to approve the proposal, which eliminates […]
Pemex Says Minatitlan Refinery Repair To Take 90 Days
(Argus, 14.Apr.2021) — Full repairs after a major fire at Pemex’s 285,000 b/d refinery in Minatitlan, Veracruz, will likely take 90 days, although some production could restart as soon as 30 April, the state-owned company said. “For security reasons the refinery is not operating but it is hoped that work […]
Pemex’s Lazaro Cardenas Refinery Off-line
(Reuters, 13.Apr.2021) — Petroleos Mexicanos (Pemex) said on Tuesday the Lazaro Cardenas oil refinery it operates in the eastern city of Minatitlan is out of service after a fire last week. Pemex said in a statement production would potentially resume on April 30, although it could take up to 90 […]
How Pemex’s Wings Got Clipped
(Reuters, 30.Mar.2021) — Shortly before taking office late in 2018, President Andres Manuel Lopez Obrador vowed to boost crude oil production at Mexican giant Pemex by nearly half, following more than a dozen years of decline. The ambitious goal of increasing the state-run company’s oil output from 1.8 million barrels […]
ContourGlobal To Capture, Utilize CO2
(ContourGlobal, 29.Mar.2021) — ContourGlobal plc and Alpek, S.A.B. de C.V. formed a new company that is developing a CO2 capture and liquefaction facility for sale to the food, beverage, and medical industries. The facility will be integrated into ContourGlobal’s 420 MW Combined Heat and Power Plant located in Altamira, Mexico […]
Sener To Decide On Zama Unitization
(Talos, 26.Mar.2021) — Talos Energy Inc. announced that the unitization process of the Zama field will enter its next phase, as established in Mexican regulation. The Mexican Ministry of Energy (“SENER”) is now required to propose finalized terms of a Unitization and Unit Operating Agreement (“UUOA”) based on international best […]
Lopez Obrador Eyes Oil Permits
(Reuters, 26.Mar.2021) — Lopez Obrador argues previous administrations skewed the energy market in favor of business interests and were intent on carving up national oil firm Petroleos Mexicanos (Pemex) and power utility the Comision Federal de Electricidad (CFE). His new initiative, a copy of which was seen by Reuters, set […]
Kootenay Announces Drilling At Copalito Project
(Kootenay Silver, 25.Mar.2021) — Kootenay Silver Inc. announce that a 3,500-meter core drilling program has commenced at the Copalito gold and silver project, located in Sinaloa State, Mexico. The program will follow up the results of 40 shallow drill-holes totaling 4,153 meters completed in 2020, confirming gold and silver mineralization […]
Mexico Seeks Better Terms From Vitol
(Reuters, 22.Mar.2021) — Mexico is looking to renegotiate some of its hundreds of millions of dollars-worth of contracts with Vitol SA after the global energy trader acknowledged paying kickbacks to win business with state oil company Pemex, Reuters has learned. The dispute in Mexico, the world’s fourth-largest importer of refined […]
LatAm Briefs: Pemex Costs, Ecuador Output
(Energy Analytics Institute, 18.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Banco do Brasil CEO resigning under pressures from Brazil’s President Jair Bolsonaro, Ecuador’s oil production reaching 506,519 barrels per day (b/d), and Pemex reducing production cost. Banco do Brasil CEO Resigns Under Bolsonaro Pressures Petrobras […]
Mexico To Absorb Pemex Amortization
(Reuters, 18.Mar.2021) — Mexico’s government will absorb the debt amortization payments as of this year of state oil firm Pemex, the world’s most indebted national oil company, CEO Octavio Romero said on Thursday. Those payments will represent over $6 billion in 2021, Romero said at an event in the southern […]
Mexico Taunts Dzimpona-1 Oil Find
(Energy Analytics Institute, 18.Mar.2021) — Mexican officials announced discovery of a new giant oil field called Dzimpona-1 in the state of Tabasco. Reserves at the field are estimated between 500 and 600 million barrels of crude oil equivalent (MMboe) The Dzimpona-1 is located near Valeriana and Racemosa, which together hold […]
Talos Energy Announces 4Q:20 And YE:20 Results
(Talos, 10.Mar.2021) — Talos Energy Inc. announced its operational and financial results for the fourth quarter and full year 2020. The company also announced its year-end 2020 reserves figures as well as 2021 operational and financial guidance. Key Highlights – Fourth Quarter 2020: Production of 59.4 thousand barrels of oil […]
Talos Energy To Host 4Q:21 Conference Call
(Talos, 10.Mar.2021) — Talos Energy Inc. will host a conference call, which will be broadcast live over the internet, on Thursday, 11 March 2021 at 10:00 AM Eastern Time (9:00 AM Central Time). CONFERENCE CALL AND WEBCAST INFORMATION Listeners can access the conference call live over the Internet through a […]
Mexican Electric Law Temporarily Cut
(Argus, 11.Mar.2021) — A court temporarily suspended Mexico’s new electricity law yesterday, a day after it took effect, signaling the start of a wave of litigation against the controversial reform. “While this interim relief was requested by one company, it will have general effect,” stated a Mexico City court judgment […]
Kootenay Commences Drilling In Mexico
(Kootenay Silver, 3.Mar.2021) — Kootenay Silver Inc. announced that a 5,000-meter core drilling program has commenced at the Columba silver project, located in Chihuahua State, Mexico. The Program will focus on step out and infill drilling on impressive results to date in the high-grade F-vein and its associated hanging wall […]
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Borr Drilling’s Fleet Status Report [PDF Download]
(Energy Analytics Institute, 26.Feb.2021) — Borr Drilling Limited provided a fleet status report through 26 February 2021. The update can be found here. ____________________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Borr Drilling Reveals Preliminary 4Q:20 Results
(Borr Drilling, 26.Feb.2021) — Borr Drilling Limited announces unaudited results for the three and twelve months ended December 31, 2020. Highlights in the Fourth Quarter of 2020 Total operating revenues of $60.2mn, net loss of $46.7mn and Adjusted EBITDA of $6.6mn for the fourth quarter of 2020.On 5 October 2020, […]
![Pemex’s 4Q:20 Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2021/03/header-2021-03-05-Resultados-preliminares-al-31-de-marzo-de-2020-Webcast-4Q20-pdf.png)
Pemex’s 4Q:20 Results [PDF Downloads]
(Energy Analytics Institute, 26.Feb.2021) — Mexico’s state oil and gas entity Pemex provided operational and financial details related to its fourth quarter 2020. What follows are select company reports. ____________________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Pemex To Host 4Q Conference Call
(Energy Analytics Institute, 25.Feb.2021) — Mexico’s state oil giant Petróleos Mexicanos (Pemex) will host its fourth quarter and year-end 2020 conference call on 26 February 2021. To sign up to listen to the broadcast, follow this link. ____________________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Mexico Looks to Strengthen Energy Sector
(Energy Analytics Institute, 18.Feb.2021) — Mexico’s President AndrĂ©s Manuel LĂłpez Obrador said the recent Texas freeze that saw many residents in the state lose power and water service, demonstrated why his country needed to strengthen its energy sector. Highlights: The Texas storm that commenced Friday night 12 February 2021 froze […]
IEnova Reports YE:20 And 4Q:20 Financial Results
(IEnova, 18.Feb.2021) — IEnova reported year-end and fourth quarter 2020 financial results. Highlights: – Top priority remains the health and safety of our employees while ensuring the continuity of safe and reliable operations – Full-year adjusted EBITDA up 7% to $1,006mn, meeting our 2020 Guidance – Fourth-quarter adjusted EBITDA of […]
IENova To Host 4Q:20 Earnings Call
(IEnova, 18.Feb.2021) — IEnova announced plans to host its earnings call regarding its year-end and fourth quarter 2020 financial results. IEnova will broadcast a live discussion of its earnings results over the internet on Friday, 19 February 2021 at 11 a.m. ET with the company’s senior management. Access is available […]
Mexico Plans To Help Pemex But Limit Covid Spending
(Bloomberg, 17.Feb.2021) — Mexico is preparing a significant tax break for its state-owned oil firm while the constitution blocks it from taking on debt to increase social spending during the pandemic, Finance Minister Arturo Herrera said in an interview. Lowering the state’s demands on Pemex, its biggest taxpayer, could help […]
Mexico Presses US To Guarantee Gas Supplies
(Reuters, 17.Feb.2021) — The Mexican government called the top U.S. representative in Mexico on Wednesday to press for natural gas supplies after the Texas governor ordered fuel to remain in the state during a freeze that has overwhelmed its energy grid. Already, earlier this week, natural gas supplies to Mexico […]
NOCs Risk Wasting $400bn Amid Energy Transition
(Reuters, 9.Feb.2021) — National oil companies (NOCs) risk squandering $400 billion on expensive oil and gas projects over the next decade that may only break even if the world fails to meet the Paris climate goals, a non-governmental organisation said on Tuesday. In a new report called Risky Bet, the […]
![Work At Dos Bocas Continues [PHOTOS]](https://energy-analytics-institute.org/wp-content/uploads/2021/01/dosb-source-sener-jan-22-c-1.jpg)
Work At Dos Bocas Continues [PHOTOS]
(Energy Analytics Institute, 23.Jan.2021) — Construction work at the Dos Bocas refinery in Mexico continues to move forward, announced Mexico’s Energy Secretariat Rocio Nahle. Nahle is seen here explaining work at the refinery to other energy sector workers while she also monitored the arrival of new equipment from state oil […]
Mexican President Wants To Dissolve Energy Regulators
(Argus, 8.Jan.2021) — Mexican President Andres Manuel Lopez Obrador plans to dissolve Mexico’s independent energy, telecommunications and competition regulators, incorporating them into government ministries. “These organizations have only served as smoke screens for illicit activity and hiding information … they cost a lot, do not work and do not benefit […]
Pemex Investigates Offshore Pipeline Fire
(Argus, 2.Jan.2021) — Mexico’s state-run Pemex is investigating the cause of a fire that broke out yesterday on a pipeline that carries hydrocarbons from an offshore production platform near Dos Bocas, Tabasco. Pemex shut the offshore pipeline that connects the platform to a separation facility near the Dos Bocas port […]
20 Companies: The Biggest Polluters In The World
(Insider Monkey, 2.Jan.2021) — In this article we are going to list the 20 companies that are the biggest polluters in the world. Click to skip ahead and jump to the 10 companies that are the biggest polluters in the world. Look, I don’t think there are many educated people […]
AMLO’s Nationalism Casts Energy Projects Into Limbo
(Bloomberg, 22.Dec.2020) — Mexican President Andres Manuel Lopez Obrador’s hardball tactics against foreign energy companies are halting projects and reversing a process that until recently made the country one of the world’s hottest oil and renewable markets. About 200 wind farms, natural gas plants, solar arrays and other projects have […]
Pemex, Talos To Keep Talking Over Shared Oil Find
(Reuters, 22.Dec.2020) — Mexico’s energy ministry has approved a 60-day extension for talks between state oil company Pemex and a private consortium led by U.S.-based Talos Energy Inc over the future of a massive shared crude deposit, Talos chief executive Tim Duncan told Reuters on Tuesday. The energy ministry’s previous […]
Mexican Watchdog Warns Against Fuel Import Changes
(Argus, 21.Dec.2020) — Proposed changes to rules governing importing and exporting hydrocarbons, refined products and petrochemicals in Mexico would “seriously affect competitive conditions in the commercialization of fuels,” competition watchdog Cofece said. Cofece called on the economic development ministry (SE) to not issue a proposal that would give the government […]
Moody’s Warns Of Pemex Downgrade
(Reuters, 15.Dec.2020) — Mexican state oil giant Pemex could sink deeper into junk territory if Mexico’s sovereign credit rating is downgraded, ratings agency Moody’s said on Wednesday. Moody’s stripped heavily indebted Pemex of its investment grade rating in April and downgraded it to junk status by cutting its rating to […]
Mexico Wrapping Up 2021 Oil Hedging Program
(Reuters, 11.Dec.2020) — Mexico is wrapping up purchases for the 2021 edition of an oil hedging program that insures its revenues from oil sales, sources familiar with the legendarily opaque trade said, following a particularly challenging year. Negotiations to purchase the bulk of the financial contracts that protect Mexico against […]
Total Closes Participation in the EnergĂa Costa Azul LNG Export Project
(Total, 10.Dec.2020) — Total, Sempra LNG and IEnova signed binding agreements finalizing Total’s equity investment in the EnergĂa Costa Azul liquefied natural gas export project (ECA LNG), located in Baja California, Mexico. Total now holds a 16.6% equity share of the project, for which the final investment decision was taken last […]
McDermott Awarded Deal By BHP For Trion Project
(McDermott, 10.Dec.2020) — McDermott International, Ltd announced it has been selected by BHP PetrĂłleo Operaciones de MĂ©xico, S. De R.L. De C.V. to perform the preliminary Front-End Engineering Design (pre-FEED) extension phase for a Floating Production Unit (FPU) that could be installed in a water depth of approximately 8,200 ft […]
Heard Mexico: Braskem Ideas Shuts PE Complex
(Energy Analytics Institute, 3.Dec.2020) — Brazilian-based Braskem Idesa has shut down its Ethylene XXI polyethylene (PE) complex in the city of Coatzacoalcos, after a Mexican state energy agency shut off natural gas supplies from state owned Petroleos Mexicanos (Pemex). __________ By Ian Silverman. © Energy Analytics Institute (EAI). All Rights […]
Sempra Announces Integrated Transactions
(Sempra, 2.Dec.2020) — Sempra Energy announced a series of integrated transactions intended to simplify its energy infrastructure investments under one platform – creating scale, unlocking portfolio synergies and better positioning the business for growth. To accomplish this, the company announced its intention to launch a stock-for-stock exchange offer for the […]
Mexico Wins Over $2bn On Oil Hedge
(Bloomberg, 1.Dec.2020) — Mexico will cash in its oil price insurance policy this year for the fourth time only in the last two decades, receiving a payout of about $2.5 billion from its 2020 sovereign oil hedge, people familiar with the transaction said. In an ironic turn of events, Mexico […]
Pemex To Begin 2021 Oil Hedge Contracting Soon
(Reuters, 26.Nov.2020) — Mexican oil giant Pemex is about to start the process of contracting an oil hedge for 2021, a senior source at the company told Reuters, after the previous two hedges delivered bumper payouts for the highly-indebted company. Pemex’s hedge is separate and much smaller than the one […]