(Pemex, 23.Oct.2018) — Pemex implemented the Hurricane Emergency Response Plan (PREH initials in Spanish) to safeguard and protect workers’ safety and its facilities in the states of Jalisco, Nayarit, Colima, Sonora, and Sinaloa. Because of the geographical region where the hurricane is expected to make landfall, it will not impact […]
Category: Mexico
Mexico energy
Pemex Confirms No Natural Gas Shortages In The Southeast Of Mexico
(Pemex, 23.Oct.2018) — PetrĂłleos Mexicanos through its subsidiary Pemex TransformaciĂłn Industrial (acronym in Spanish, TRI), confirms delivery of almost 100 MMcf/d of natural gas for customers in the Mexican Southeast using a first hand sales scheme. This measure guarantees there will be no natural gas shortages in the southeast region. […]
Phillips 66 Wins Tender To Sell U.S. Bakken Crude To Pemex -Traders
(Reuters, 22.Oct.2018) — Refining firm Phillips 66 was awarded a tender to supply Mexico’s Pemex with at least four 350,000-barrel cargoes of U.S. Bakken crude for delivery from November through December, traders with knowledge of the offer’s results said on Monday. The purchase will mark the state-run company’s first crude […]
Pemex Designates Four Shipments to Import Light Crude Oil
(Pemex, 22.Oct.2018) — PetrĂłleos Mexicanos evaluated several proposals for shipments to supply light crude oil, in accordance to the parameters established by Pemex TransformaciĂłn Industrial (Pemex Industrial Transformation). As a result, PMI assigned four shipments of 350,000 barrels each for the import of Bakken light crude oil, which will be […]
Mexico’s Peso Falls To Lowest Level In 5 Weeks On Pemex Outlook
(Reuters, 19.Oct.2018) — Mexico’s peso currency reversed gains on Friday to fall 1 percent, hitting its lowest level in five weeks after a report by ratings agency Fitch on national oil company Pemex. Following the decision by Fitch to revise the company’s outlook rating to negative from stable, the peso […]
Petrofac Completes Sale Of 49% Interest In Mexican Operations
(Petrofac Limited, 19.Oct.2018) — Petrofac Limited announces that it has completed the sale of 49% of the company’s operations in Mexico to Perenco (Oil & Gas) International Limited, following approval from the Federal Competition Commission of Mexico (COFECE). Related Stories https://energy-analytics-institute.org/petrofac-introduces-partner-in-mexico/ *** #LatAmNRG
Gas Shortages In Southern Mexico To Reach Critical Levels In November
(S&P Global Platts, 18.Oct.2018) — Gas shortages in southern Mexico will reach a critical point in November as Pemex natural gas production continues declining and users lack access to LNG terminals, industrial users in southern Mexico told S&P Global Platts on Thursday. Pemex is not nominating gas for several industrial […]
Moody’s: Mexican Government’s Plan To End Oil Exports Raises Risks
(Kallanish Energy, 18.Oct.2018) — The incoming Mexican government’s announcement to end oil exports is credit negative to both Petroleos Mexicanos (Pemex) and to the government’s credit quality, says Moody’s investors Service, in a new report. The oil company’s operating cash flow would decline and become more volatile under the new refining-focused business […]
Pemex Has Registered 40,000 Illicit Connections Since 2012
(Energy Analytics Institute, Piero Stewart, 17.Oct.2018) — PetrĂłleos Mexicanos (Pemex) has registered 40,000 clandestine pipeline connections in the last six years, announced company General Director Carlos Treviño during a speech to the Chamber of Deputies. “Pemex is most concerned about this problem as it damages a company of Mexican citizens,” reported […]
Pemex Sells $2 Bln Bonds To Fund Investment And Refinance Debt
(Offshore Technology, 17.Oct.2018) — Mexican state-owned petroleum company Pemex has reportedly sold $2bn of its bonds. The sale of the ten-year Pemex bonds is said to have generated about 6.5% in a move, which is aimed at funding the company’s investment, as well as refinance debt. A Pemex spokesperson said […]
Mexico’s Next Government Faces Bind In Pemex Ethane Deal
(Reuters, Diego OrĂ©, 17.Oct.2018) — Mexico’s incoming government will soon inherit a costly dilemma over an ethane supply contract between national oil company Pemex and a consortium led by a unit of Brazilian builder Odebrecht. Under the contract’s terms, Pemex has had to supply ethane well below current market prices. […]
Mexico’s Salina Cruz Refinery Normal After Electrical Accident: Pemex
(Reuters, 17.Oct.2018) — Mexico’s Salina Cruz oil refinery is operating normally after three people were injured in an electrical accident, a spokesman for state oil company Pemex said on Wednesday. The 330,000 barrel-per-day capacity facility, Pemex’s largest, had a short-circuit on Tuesday evening that sparked flames, the spokesman said. *** […]
Pemex Seeks Up To 2.1 MMbbls Of U.S. Bakken Crude -Traders
(Reuters, 17.Oct.2018) — Mexico’s state-run oil company Pemex received bids this week for up to six 350,000-barrel cargoes of U.S. Bakken crude it wants to import from November through December, according to traders with knowledge of the tender. This is Pemex’s second attempt to import U.S. light oil mostly for […]
Pemex Places $2 Billion Bond In International Markets
(Pemex, 16.Oct.2018) — PetrĂłleos Mexicanos in September disclosed the application of a series of operating and marketing measures could generate an improvement of 30 billion pesos on the 2018 balance sheet, placing the company at an approximate deficit of 49.414 billion pesos, instead of the deficit for 79.414 billion pesos […]
Mexico’s AMLO Presses Big Oil To Start Pumping From Recent Finds
(Oilprice.com, Tsvetana Paraskova, 16.Oct.2018) — Mexico wants Big Oil to start producing from the recently discovered oil fields in Mexico as soon as possible, incoming President AndrĂ©s Manuel LĂłpez Obrador told foreign executives at a recent meeting, Reuters reported on Tuesday, quoting sources and executives who attended the meeting. In […]
Mexico And Brazil’s Crude Politics
(Foreign Policy, Lisa Viscidi, .16.Oct.2018) — A potential return to resource nationalism could set both countries back. Until this year, resource nationalism—when a government asserts its control over a country’s natural resources—seemed to be on the wane in Latin America. With oil prices low, state oil companies were struggling, and […]
Texas Would Have A ‘Party’ If Mexico Prohibited Fracking
(Energy Analytics Institute, Ian Silverman, 16.Oct.2018) — Prohibiting fracking in a generalized manner, as announced by Mexico’s president-elect AndrĂ©s Manuel LĂłpez Obrador (AMLO), would be an error that would benefit the United States. “I’d regret this initiative to ban fracking in a general way in our country. The day it […]
Mexico’s Lopez Obrador Pushes Big Oil To Hurry, But Offers Little
(Reuters, David Alire Garcia, Marianna Parraga, 16.Oct.2018) — At his first meeting with foreign oil majors, Mexico’s leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources say, but gave no sign of offering up new fields to reverse dwindling output. President-elect Andres Manuel […]
Mexico Plans To Enforce Odebrecht Fines Via Seizure -Official
(Reuters, 12.Oct.2018) — Mexico plans to enforce fines imposed on Odebrecht over corruption allegations by confiscating some $30 million owed by state oil company Pemex to the Brazilian firm, a top official at the public administration ministry said. Christian Ramirez, coordinator-general of the public administration ministry (SFP), told Reuters on […]
Pemex Rolls Out New Fuel Additive To Protect Gasoline Engines
(Pemex, 11.Oct.2018) — Pemex introduced the new gasoline additive that will be added into Pemex Magna and Pemex Premium fuels, the additive will be promoted under the brand name of Pemex Aditec. This fuel additive is environmentally friendly, and will keep the engine up to 97 per cent free of […]
Pemex Hopes Gulf Discoveries Mesh With New President’s Goals
(Houston Chronicle, Jordan Blum, 11.Oct.2018) — Leaders of Mexico’s state oil company Pemex initially feared the inevitable election of leftist presidential candidate AndrĂ©s Manuel LĂłpez Obrador, who spoke of rolling back the nation’s recent energy reforms and building new refineries. Now with LĂłpez Obrador set to take office in two […]
Pemex: 2 New Wells Have 180 Million Barrels 3P Oil
(AP, 9.Oct2018) — Mexico’s state-owned oil company says two wells in shallow Gulf of Mexico waters have found about 180 million barrels of proven, probable and possible oil and gas reserves. The Manik well is about 52 miles (85 kilometers) offshore, and the Mulach is about 11 miles (17 kilometers) […]
Pemex Finds 2 New Oil Fields in Gulf of Mexico
(FT, Jude Webber, 9.Oct.2018) — Mexican state-owned oil company Pemex said it had discovered two new shallow water fields that, combined with other discoveries in recent years, would add production of as much as 210,000 barrels of oil per day and 350m cubic feet of gas. The Manik-101 A and […]
Pemex Announces Oil Field Find In Shallow Waters Of Southeast Basin
(Pemex, 9.Oct.2018) — Pemex CEO, Carlos Treviño, confirmed the discovery of seven reservoirs in two new wells in Mexico’s Southeast Basin, named Manik-101A and Mulach-1, which will allow the company to incorporate more than 180 million barrels of oil equivalent (MMBOE) of 3P reserves. Accompanied by Mexico’s Energy Secretary and […]
Pemex Spill Prompts Evacuations In Mexico
(The Oil&Gas Year, 8.Oct.2018) — Around 300 people were evacuated in the Mexican state of Veracruz as hydrocarbons spilled from a vandalised Pemex pipeline into the Tepeyac creek, which flows into the Coatzacoalcos River, local media reported over the weekend. According to officials, the spill has also led to the […]
Pemex Receives “2018 Most Innovative Award”
(Pemex, 5.Oct.2018) — Pemex Digital, Pemex’s Digital Transformation project, which is spearheaded by the Corporate Office of Information Technology and is supported by Pemex CEO Carlos Treviño Medina and the company’s senior management, received the 2018 Most Innovative Award (Las Más Innovadoras 2018), from Netmedia Research’s IT Masters Mag. This […]
AMLO Sees EOR, Pemex Farm-Outs As Key To Boosting Mexican Oil, Gas Output
(S&P Global Platts, Daniel Rodriguez, 4.Oct.2018) — Mexico’s President-elect Andres Manuel Lopez Obrador will allow Pemex to continue farming out projects to boost oil and natural gas production from mature and aging fields, according to a senior adviser to the incoming administration. The incoming administration, in its oil production forecast […]
Mexico’s President-Elect AMLO Commits to Respect Oil Contracts
(Renaissance Oil Corp., 2.Oct.2018) — Renaissance Oil Corp. announced that Mexico’s president-elect, Andres Manuel Lopez Obrador, who will take office on December 1, 2018, assured private energy executives on September 27, 2018 that their contracts will not be canceled if they meet existing terms. During the meeting with AMEXHI, Mexico’s […]
Pemex to Import U.S. LLS Crude for Oct Delivery
(Reuters, 1.Oct.2018) — Mexico’s state-run Pemex has launched a tender to buy 350,000 barrels of U.S. Light Louisiana Sweet (LLS) crude for October delivery, according to a document seen by Reuters on Monday, a deal that marks the first crude imports in over two decades. Pemex, which plans to use […]
Obrador’s Government Will Renovate Refineries of Petroleos Mexicanos
(Prensa Latina, 1.Oct.2019) — The government of elected president Andres Manuel Lopez Obrador will make a strong investment to rehabilitare the six refineries presently property of Petroleos Mexicanos (Pemex) in the country, it was known today. Obrador announced that in the period 2019-2020 they will use with such purpose 50 […]
Mexico’s Oil Regulator Backs Pemex Picking Its Own Partners
(Reuters, 30.Sep.2018) — Mexico’s oil regulator supports a proposal to allow state-run oil company Pemex to pick its own equity partners for exploration and production projects, the head of the National Hydrocarbons Commission (CNH) said on Friday. Aides to President-elect Andres Manuel Lopez Obrador, a fierce critic of a four-year-old […]
Mexico Must Double Oil Exploration Spending to Halt Output Fall: Pemex
(Reuters, Marianna Parraga, David Alire Garcia, 28.Sep.2018) — Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said Friday. […]
Grid Connection for Over 1 GW of Enel Solar Parks in Mexico
(Renewables Now, 28.Sep.2018) — Italian energy major Enel SpA has switched on and hooked to the grid two solar parks in Mexico totalling 1,089 MW. The 828-MW Villanueva and 260-MW Don Jose projects were implemented by the company’s subsidiary Enel Green Power Mexico (EGPM). Their construction required an investment of […]
Mexico Oil Auction Winners Stay Positive
(Bloomberg, Amy Stillman, 28.Sep.2018) — Mexico’s oil auction winners BHP Billiton Ltd and DEA Deutsche Erdoel AG are hopeful that the slowdown in bid rounds is a feature of the country’s political transition and won’t be permanent. “We have expectations that things will pick up again and continue,” said DEA […]
Energy Reform To Continue To Reap Benefits For Mexico: Treviño Medina
(Pemex, 27.Sep.2018) — PetrĂłleos Mexicanos CEO, Carlos Treviño Medina, assured that the Energy Reform is beginning to yield important benefits for Mexico by allowing new financial actors to participate that will contribute to the generation of greater wealth for the country. He stated that this new framework gives the energy […]
Pemex to Begin Importing US Crude in H2 October: CEO
(S&P Global Platts, Daniel Rodriguez, 27.Sep.2018) — Pemex plans to begin importing light crude from the US Gulf Coast in the second half of October, CEO Carlos Trevino told S&P Global Platts. The imports will enable Pemex to raise its total crude processing to 700,000 b/d-800,000 b/d in the final […]
Interview: Pemex’s CEO Expects FID for Four New Fields in 2019
(S&P Global Platts, Daniel Rodriguez, 27.Sep.2018) — Mexico’s state oil company Pemex expects to make a final investment decision (FID) and begin development of its Ixachi, Pokche, Xikin, and Suuk discoveries in 2019, CEO Carlos Trevino told S&P Global Platts. These fields are at the top of Pemex’s project pipeline, […]
Talos Energy Announces Approval Of Zama Appraisal Plan
(Talos Energy, 27.Sep.2018) — Talos Energy Inc. announced the Mexican oil & gas regulator, the National Hydrocarbons Commission (CNH) has approved the appraisal plan for the Zama discovery. The approval of the appraisal plan by the CNH is a key approval required to commence the appraisal of the Zama discovery. […]
Venezuela Faces Fresh Blow With Ship-Fuel Rules Threatening Exports
(Bloomberg, 27.Sep.2018) — New rules forcing ships to use cleaner marine fuels may deal yet another blow to cash-strapped Petroleos de Venezuela SA, an exporter of high-sulfur fuel oil. From Jan. 1, 2020, vessels will have to switch to less-polluting bunker fuel or be fitted with equipment to curb emissions, […]
Pemex Plans up to 100,000 b/d of Light Crude Imports, Says CEO
(Reuters, David Alire Garcia, Marianna Parraga, 26.Sep.2018) — Mexican state-run oil company Pemex expects to begin importing up to 100,000 barrels per day of light crude oil, likely from the United States, from late October and at least until the end of November, its chief executive said on Wednesday. “A […]
Giving More Money to Pemex Could Hurt The Company
(Energy Analytics Institute, Ian Silverman, 25.Sep.2018) — Contrary to what is thought, investing in Pemex and increasing its production could weaken the oil company, since it hasn’t achieved the profitability necessary to operate with good finances. The solution is no as easy as just opening the wellhead and allowing production […]
Pemex, Consortium Sign First Ever Pre-Unitization Agreement in Mexico
(Pemex, 20.Sep.2018) — Pemex and the Block 7 consortium signed the first ever pre-unitization agreement in Mexico. PetrĂłleos Mexicanos (Pemex) and Talos Energy, as operator of the Block 7 Consortium, announced that Pemex and the international Block 7 Consortium (Talos Energy, Sierra Oil and Gas, and Premier Oil) signed a […]
Pemex CEO Launches Management System at Cangrejera Petrochemical Complex
(Pemex, 19.Sep.2018) — The CEO of PetrĂłleos Mexicanos, Carlos Treviño Medina, launched the Management Assessment System at the Cangrejera Petrochemical Complex, located in the state of Veracruz that will help increase the production value of oil products processed in this center, through the identification of critical inventory items, oversight the […]
Pemex Performs Earthquake Drill at 140 Facilities Across Mexico
(Pemex, 19.Sep.2018) — At 13:16 hours, on September 19th a massive, country-wide earthquake drill started and 140 PetrĂłleos Mexicanos facilities participated simultaneously. This country-wide drill is held in Mexico each year to commemorate the National Civil Defense Day and as a day to honor the victims of the devastating 1985 […]
Mexico’s New President Should Postpone Oil Auctions: Former Pemex Official
(Reuters, Collin Eaton, 19.Sep.2018) — A former Petroleos Mexicanos board member said on Wednesday Mexican President-elect Andres Manuel Lopez Obrador has enough political support to change the nation’s energy law and should postpone planned competitive oil auctions until the law is revised. Fluvio Ruiz Alarcon said, following an address at […]
IEnova, BP Sign Contract For Liquid Fuels Terminal In Baja California, Mexico
(Sempra Energy, 11.Sep.2018) — Sempra Energy announced its Mexican subsidiary, Infraestructura EnergĂ©tica Nova, S.A.B. de C.V. (IEnova) signed a long-term contract with British Petroleum (BP) for the remaining 50 percent of the initial capacity of the proposed Baja Refinados liquid fuels marine terminal in Baja California, Mexico. Under the agreement, […]
Mexico Oil Production to Reach 2.6 MMb/d by 2025: Lopez Obrador
(S&P Global Platts, Daniel Rodriguez, 11.Sep.2018) — Mexico’s President-elect Andres Manuel Lopez Obrador said Sunday he plans to focus on developing and exploring onshore and shallow water areas under the control of state oil company Pemex to boost the country’s oil production. “We have a projection, and our plan is […]
Concerns Raised Over Contract Release Program in Mexico
(S&P Global, 6.Sep.2018) — Mexico gas market observers have expressed concern that a lack of liquidity and supply guarantees will complicate the final phase of Pemex’s natural gas contract release program, which is designed to allow the entry of new gas marketers. Mexico’s Energy Regulatory Commission (CRE) last week approved […]