(Bloomberg, Amy Stillman and Eric Martin, 6.Sep.2018) — Mexico’s next president said he will continue with tenders for drilling service contracts starting when he takes office. “We are preparing the rescue plan for the oil industry that will consist of producing more crude oil soon, and we will need these […]
Category: Mexico
Mexico energy
AMLO Plans Massive New Oil Refinery
(OilPrice.com, Irina Slav, 5.Sep.2018) — Mexico’s President Andres Manuel Lopez Obrador has plans to build the country’s largest refinery with a capacity to produce 400,000 barrels of gasoline daily, Reuters reports, citing comments by Obrador during a meeting with businessmen in Monterrey. The refinery would cost US$8 billion to build […]
New Fortress Builds On LNG Presence With Irish, Mexican Projects
(LNG World Shipping, Mike Corkhill, 4.Sep.2018) — New Fortress Energy has added two major LNG import projects to its portfolio, as part of its drive to bring the benefits of clean-burning gas to new markets New Fortress Energy (NFE) has agreed to buy a site at Ballylongford in Ireland’s County […]
OOS Drillship to Support Pemex Campaign
(Offshore, 4.Sep.2018) — OOS Energy has won its first drilling contract offshore Mexico. The OOS Tiger 1 drillship will support Marinsa & PPS (Pemex Drilling) for a 15-month program. The vessel, built at Shanghai Shipyard in China, is a moored drillship capable of working in water depths up to 5,000 […]
Mexican Fuel Consumption 778 Mb/d: Jan.-Jul. 2018
(Energy Analytics Institute, Jared Yamin, 3.Sep.2018) — During the first seven months of 2018, the average consumption of gasoline in Mexico was 778,000 barrels per day, or 124 million liters per day. Of the total, approximately 659,000 barrels per day, or 85% of total consumption, corresponded to Pemex Magna, while […]
S&P Confirms Pemex’s Global Rating at BBB+
(Pemex, 31.Aug.2018) — Rating agency Standard and Poor’s (S&P) confirmed the global rating of Petróleos Mexicanos at ‘BBB+’ with stable outlook after its annual review of the company, and modified its individual credit profile from ‘bb’ to ‘bb-‘. Additionally, the global rating and stable outlook reflect not only the implicit […]
Pemex Pauses Light Crude Exports: Data, Source
(Reuters, Ana Isabel Martinez, Marianna Parraga, 30.Aug.2018) — Mexico’s state-run oil firm Pemex has not exported light crude since May, according to a source and export data seen by Reuters on Thursday, as it gears up to process more of the oil at its domestic refineries. Mexico’s President-elect Manuel Andres […]
Pemex’s Oil Workers Donate to Mexican Red Cross
(Pemex, 28.Aug.2018) — Pemex CEO Carlos Treviño Medina, presented the donation of 15,685,324 pesos made by the oil workers’ community in the country as part of the 2018 Fundraiser to the director of the Mexican Red Cross, Fernando Suinaga Cárdenas. He stated that Petróleos Mexicanos’s most important assets are its […]
AMLO Says NAFTA Preserves Energy ‘Sovereignty’
(Reuters, 28.Aug.2018) — Mexican president-elect Andres Manuel Lopez Obrador welcomed a deal between Mexico and the U.S. to overhaul the North American Free Trade Agreement (NAFTA) that he said preserved Mexican “sovereignty” in the energy sector. The U.S.-Mexico deal was announced by U.S. President Donald Trump on Aug. 27, putting […]
Pemex Insider Destined for Key Post Under AMLO
(Bloomberg, Amy Stillman, 28.Aug.2018) — Mexico President-elect Andres Manuel Lopez Obrador will name Fluvio Ruiz Alarcon as Petroleos Mexicanos’s next exploration and production chief, according to two people with knowledge of the plans. Ruiz Alarcon, a former independent adviser to Pemex, will take over on Dec. 1, when Lopez Obrador […]
Renaissance Oil Reports 2Q:18 Results
(Renaissance Oil Corp., 27.Aug.2018) — Renaissance Oil Corp. reported second quarter 2018 results. All dollar figures are Canadian dollars, unless otherwise noted. SECOND QUARTER 2018 HIGHLIGHTS — Revenue in Q2 2018 reached a company record of $7.0 million, an increase of 40% compared with the previous quarter, and higher by […]
Renaissance Oil Advancing at Amatitlán block in Mexico
(Renaissance, 27.Aug.2018) — Renaissance Oil Corp. announced that in the second quarter of 2018 it saw continued oil field development with its partner LUKOIL, at the Amatitlán block in Veracruz, Mexico. During the quarter, six additional wells were drilled intersecting the shallow Tertiary aged Chicontepec formations. To date sixteen Chicontepec […]
Atlas Renewable Energy, Bancomext Closing Long-Term Financing
(Atlas Renewable Energy, 27.Aug.2018) — Atlas Renewable Energy and Banco de Comercio Exterior (Bancomext) announced the signing of a long-term financing agreement for Atlas Renewable Energy’s solar power plant in Mexico, located in the state of Hidalgo. Bancomext will provide $88.5 million dollars to finance the construction of the project, […]
Mexico’s New President To Deal Blow To Oil Industry
(Oilprice.com, Nick Cunningham, 26.Aug.2018) — Mexico will likely halt oil auctions for at least two years, dealing a blow to its oil industry. Mexico’s president-elect Andres Manuel Lopez Obrador (AMLO) will reportedly suspend oil auctions for at least two years, according to the Wall Street Journal, with some experts believing […]
Pemex Industrial Transformation to Challenge Cofece Fine
(Pemex, 26.Aug.2018) — As of today, the Commission of Economic Competition (acronym in Spanish, Cofece) published the fine imposed on Pemex TRI for over 418 million pesos, for allegedly having failed to comply with one of the obligations acquired in October 2016, to restore competition in marketing and distributing 7 […]
Fuel Theft Rate Lowers in the State of Guanajuato
(Pemex, 25.Aug.2018) — During a meeting of the Guanajuato Coordination Group, Governor Miguel Márquez Márquez and the CEO of Petróleos Mexicanos, Carlos Treviño Medina, assessed the measures implemented to date by the three levels of government to fight fuel theft in the state, which has resulted in a lower crime […]
Gas Producers Counting on Mexico Have Worries
(Houston Chronicle, Katherine Blunt, 24.Aug.2018) — For years, U.S. producers have counted on Mexico to buy enormous quantities of natural gas from the prolific shale fields in West Texas and elsewhere. The fracking boom has given rise to massive pipeline projects to carry that gas across the border, where energy […]
Electric Stations Rising in Mexico
(Energy Analytics Institute, Jared Yamin, 22.Aug.2018) – From 2015 to July 2018, the number of recharging stations for electric vehicles, or electric stations, has grown by almost a multiple of 13 times, revealed the Electric Sector Energy Saving Program (PAESE by its Spanish acronym). In 2015 the total recharging stations […]
AMLO Eyes Mexican Oil Output at 2.5 MMb/d
(Energy Analytics Institute, Jared Yamin, 22.Aug.2018) – Mexico’s President-elect Andrés Manuel López Obrador announced plans to boost Mexico’s crude oil production to 2.5 million barrels per day (MMb/d) by 2021 from almost 1.9 million today. López said the plan was to boost Mexico’s production by 600,000 barrels per day during […]
U.S. Co. Wins Contract for Mexico LNG Project
(Natural Gas Intelligence, Peter de Montmollin, 22.Aug.2018) — A U.S. company has secured a long-term contract to build a liquefied natural gas (LNG) import project on the southern tip of Mexico’s Baja California peninsula, a region isolated from the country’s main energy transmission systems. New Fortress Energy (NFE) won a […]
Pemex Unit Fined $22 Mln by Competition Authority
(Reuters, 21.Aug.2018) — Mexico’s competition authority said on Tuesday that it has fined a unit of state-owned oil company Pemex for presenting an annual compliance report on antimonopoly measures in the recently opened fuel market a year after it was due. The Federal Commission for Economic Competition, or COFECE, fined […]
New Fortress to Build $184 Mln LNG Terminal in BCS
(MexicoNow, 20.Aug.2018) – U.S. energy infrastructure developer New Fortress Energy (NFE) announced that it was awarded a long-term contract for the development, construction and operation of a terminal dedicated to the import of liquefied natural gas (LNG) in the port of Pichilingue, Baja California Sur. This contract was the result […]
Pemex Advances Digital Changes to Boost Competition
(Pemex, 20.Aug.2018) – Pemex commenced its Digital Week, so personnel could be trained with the new technological tools developed by the Corporate Department of Informational Technology (DCTI) to improve work strategies, as they are integrated through all the areas to become more efficient in the state-owned petroleum company. At the […]
U.S.’s Perry Applauds Mexico’s Plan to End Fuel Imports
(Reuters, David Alire Garcia, 16.Aug.2018) – U.S. Energy Secretary Rick Perry praised the goal set out by Mexico’s incoming president to end massive gasoline and diesel imports, nearly all of which come from the United States, as a measure that will boost prosperity in its southern neighbor. During a visit […]
Pemex Ethylene, PE Output Unaffected by Pipeline Incident
(Platts, 16.Aug.2018) — State-owned Pemex’s ethylene and polyethylene production facilities ran normally even as a pipeline incident led fellow Mexican polymer producer Braskem Idesa to institute a temporary shutdown of operations, company sources said Thursday. The incident occurred last week and resulted in the shutdown of two Pemex gas processing […]
Guyana to Become 5th Largest Oil Producer in LAC Region
(Energy Analytics Institute, Piero Stewart, 15.Aug.2018) – If all goes off as planned, by 2025, Guyana will be the 5th largest oil producer in the Latin American and Caribbean region. That’s according to an analysis of data posted by Trading Economics, and extrapolation of estimates of Guyana’s future oil production, […]
Mexico’s Struggling Pemex Awaits New President’s Risky Fix
(Bloomberg, Amy Stillman, 14.Aug.2018) – By most financial measures, Mexico’s state oil company is seriously unwell. The country’s new leader is promising to revive it. But the treatment could end up killing the patient. After borrowing more than $100 billion, Petroleos Mexicanos is one of the world’s most indebted oil […]
Technology, New Innovations and the LatAm Energy Sector
(Energy Analytics Institute, Pietro D. Pitts, 14.Aug.2018) – The ability to use hydraulic fracturing to tap shale formations, to remotely monitor and manage assets, and use advanced technology to heat reservoirs, are a few of the many new innovations used in the capital intense hydrocarbon sector. Faced with rising competition […]
Mexico’s Fuel Plan Won’t Immediately Impact Texas
(Texas Tribune, Juan Luis García Hernández, 14.Aug.2018) – After a dramatic spike in gasoline prices incited widespread protests in Mexico last year, then-presidential candidate Andrés Manuel López Obrador made a promise that caught the attention of Texas officials and the state’s oil and gas industry: The veteran left-wing politician vowed, […]
AMLO Pledges More Than $11 Bln for Refineries
(Reuters, 13.Aug.2018) – Mexican President-elect Andres Manuel Lopez Obrador said on Monday his administration will invest more than $11 billion to boost refining capacity in order to curb growing fuel imports. Lopez Obrador, who will take office on Dec. 1, told reporters his government plans to invest $2.6 billion to […]
Two Companies to Ship Fuels from US to Mexico
(Energy Analytics Institute, Ian Silverman, 11.Aug.2018) – To-date, two oil companies are working to export fuels from the U.S.A. to neighboring Mexico, through the Port of Brownsville. “Our main client is P.M.I. Comercio Internacional, a subsidiary of Pemex, that’s dedicated to the import and export of hydrocarbons,” reported the daily […]
Mexico’s CNH to Speak at EnerCom Conference
(Energy Analytics Institute, Jared Yamin, 9.Aug2018) – The 23rd annual EnerCom conference will take place in the Denver Downtown Westin Hotel on Aug. 19-22, 2018. Companies with exposure to Latin America that will participate in special panels during the event include the following: Oil & Gas in Mexico Panel — […]
EAI brief: Pemex’s Salina Cruz refinery halts operations
HOUSTON, TEXAS (By Ian Silverman, Energy Analytics Institute, 9.Aug.2018, Words: 112) – Pemex’ Salina Cruz refinery halted operations Wednesday night due to a power outage. The refinery, located in Oaxaca, is one of six refineries owned by Pemex, and is currently processing 238,000 barrels per day (b/d), reported the daily […]
Sempra Energy Forms North American Infrastructure Group
(Sempra Energy, 8.Aug.2018) – Sempra Energy formed a new operating group for its North American infrastructure businesses and named Carlos Ruiz Sacristán chairman and CEO of the group, Sempra North American Infrastructure. Ruiz has served as chairman and CEO of Sempra Energy’s Mexican operating subsidiary, Infraestructura Energética Nova, S.A.B. de […]
Talos Energy Conference Call, Webcast
(Talos Energy Inc. 6.Aug.2018) – Talos Energy Inc. will host a conference call, which will also be broadcast live over the internet, on Tuesday, August 7, 2018 at 10:00 am Eastern Time (9:00am Central Time). Listeners can access the conference call live over the internet through a webcast link on […]
Talos Energy Announces 2Q:18 Financial, Operational Results
(Talos Energy Inc., 6.Aug.2018) – Talos Energy Inc. announced its financial and operational results for the second quarter ended June 30, 2018, and reaffirmed the previously released pro forma full year 2018 production, expenses and capital expenditure guidance. Combination with Stone Energy Corporation On May 10, 2018, Talos Energy LLC […]
Background: Premier Oil’s Entry Into Mexico
(Premier Oil, 6.Aug.2018) — London-based Premier Oil is focused on development of assets in parts of the world from South East Asia, the North Falklands Basin, as well as Mexico and the world-class oil discovery at Zama. What follows is a backgrounder on Premier in Mexico: In July 2015, Premier […]
Shell Offers 1H:18 LatAm Updates
(Energy Analytics Institute, Jared Yamin, 1.Aug.2018) – Royal Dutch Shell plc announced the following updates during the first half of 2018. Mexico In the deep-water bid round in Mexico in January for the Gulf of Mexico, Shell won four exploration blocks on its own, four with its partner Qatar Petroleum […]
Shell Provides 3Q:18 Outlook Update
(Energy Analytics Institute, Jared Yamin, 1.Aug.2018) – Royal Dutch Shell plc offered the following outlook for the third quarter of 2018. Compared with the third quarter 2017, Integrated Gas production is expected to be 40 – 70 thousand boe/d lower, mainly due to divestments and higher maintenance. LNG liquefaction volumes […]
Pemex Has or Doesn’t Have Money?
(Energy Analytics Institute, Aaron Simonsky, 1.Aug.2018) – If Mexico’s Pemex doesn’t have the necessary funds to invest in deep water or shale activities, how is it the state oil company will have funds to invests in new refineries as proposed by President-elect Andrés Manuel López Obrador? Join the discussion below […]
Pemex Inaugurates 1st Petrol Station with New Image
(Pemex, 1.Aug.2018) – The CEO of Pemex Transformación Industrial stated that the new concept will help the franchise maintain its leadership in the national market The first “Flagship” service station of the Pemex franchise, located in the colonia Centro in the municipality of Atizapán Santa Cruz, State of Mexico, was […]
Mexico Oil Output to Trend Upwards in 2027
(Energy Analytics Institute, Aaron Simonsky, 31.Jul.2018) – Mexico’s oil production will cease to decline in 2025. That’s according to details of a report published by S&P Global Platts Energy Analyst and Consultant Manager Javier Díaz during an energy forum. Díaz announced details of projections for Mexican crude oil production until […]
Mexico’s Next President Promises Pemex Investment
(Bloomberg, Amy Stillman, 30.Jul.2018) – Mexico’s incoming president named a new chief executive officer for Pemex and promised government investment of 75 billion pesos ($4 billion) in the oil sector, in a bid to revive the state-owned oil company. Andres Manuel Lopez Obrador tapped longtime political ally Octavio Romero Oropeza, […]
Petrofac Introduces Partner In Mexico
(Petrofac Limited, 30.Jul.2018) — Petrofac Limited signed an agreement to sell 49% of the Company’s operations in Mexico(1)(2), including Santuario, Magallanes and Arenque, to Perenco (Oil & Gas) International Limited (“Perenco”). The transaction is subject to approval by the Federal Competition Commission of Mexico (COFECE), which is expected in Q4 […]
Pemex Reports 2Q:18 Sales Rose 36%
(Pemex, 27.Jul.2018) – The company recorded operating yields of 120 billion pesos During the first quarter of 2018, it achieved an EBITDA of 288 billion pesos and an EBITDA margin 35 Today, Petróleos Mexicanos announced its financial and operating results for the second quarter of 2018, which show a total […]
Pemex to Carry Out Maintenance On El Señor del Mar
(Pemex, 26.Jul.2018) – The works will not affect the production goals established by Pemex for the current year Starting this Saturday, July 28th and until the 4th of August, Petróleos Mexicanos, through Pemex Exploración y Producción (Pemex Exploration and Production), will perform scheduled maintenance work on the tanker vessel Yúum […]
Pemex Aims to Reduce CO2 Emissions by 25% by 2021
(Pemex, 26.Jul.2018) – Environmental protection and sustainability, the governing principles of the State-Owned Productive Company’s work The CEO of Petróleos Mexicanos, Carlos Treviño, inaugurated the 7th Environmental Conferences this morning For Petróleos Mexicanos, environmental protection and sustainable development are high-priority values. Therefore, the State-Owned Productive Company expects to reduce its […]
Petroleum Geology of Mexico and the Northern Caribbean
(The Geological Society, 25.Jul.2018) – The Gulf of Mexico is a world class prolific hydrocarbon system. As a result of recent energy reform the Mexican sector of this basin has been open to international companies for the first time through a series of competitive licence rounds. The first phase of […]
Pemex Continues Defense Against Claims by Oro Negro
(Pemex, 24.Jul.2018) – The spread published last night by the company Oro Negro seeks to compensate for a series of strategic mistakes made by that company In connection with the spread that was published on July 19 in the American newspaper The New York Times and signed by Juan P. […]