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...
Mexico Announces Infrastructure Projects
(Platts, 5.Oct.2020) — Mexico announced on Oct. 5 a set of infrastructure projects worth almost $14 billion to reactivate the economy, including a new coker for one of its six...
Mexico’s Environment Minister Resigns
(Reuters, 2.Sep.2020) — Mexico's environment minister has resigned after clashing with colleagues over policy priorities, prompting President Andres Manuel Lopez Obrador to defend the government's green credentials on Wednesday. Environment...
Mexico’s Obrador Says 2021 Budget Includes Refinery
(Reuters, 2.Sep.2020) — Mexican President Andres Manuel Lopez Obrador said on Wednesday the 2021 budget would call for spending on priority infrastructure, including refineries and oil production, and would not...
Pemex’s Romero Pushes For Control Over Zama
(Reuters, 29.Jan.2020) — Mexico’s state oil company Petroleos Mexicanos wants operational control over a major offshore oil area discovered by a consortium of private companies before development gets underway, its...
Pemex Supports Hidalgo Municipalities
(Pemex, 3.Dec.2019) — As part of the Community and Environment Support Program (PACMA), the General Director of Petróleos Mexicanos (Pemex), Octavio Romero Oropeza, presented to the Hidalgo State Governor Omar...
Mexico Budget Assumes 1982 Output Surge
(Bloomberg, Amy Stillman, Nacha Cattan and Eric Martin, 9.Sep.2019) — Mexico’s balanced budget for next year depends in part on its oil company boosting production by about 17%, something that...
Mexican Gov’t To Keep Investing In Pemex
(Reuters, 16.Aug.2019) — Mexican President Andres Manuel Lopez Obrador said on Friday that his government would keep investing in state oil company Pemex, which is on the verge of losing...
Mexico To Cut Pemex’s Profit-Sharing Duty To 54%
(Platts, Daniel Rodriguez, 21.Jun.2019) — The Mexican government will cut Pemex's profit-sharing duty, known as DUC, to 54% by 2021 from the current 65%, the company's financial director, Alberto Velazquez,...
Pemex: New Refinery Environmentally Viable
(Reuters, David Alire Garcia, 19.Jun.2019) — Mexican President Andres Manuel Lopez Obrador’s push to build a new oil refinery involves high risks of flooding and other environmental issues, according to...
Mexico Moving Forward With Dos Bocas Refinery Construction In Tabasco
(Energy Analytics Institute, Jared Yamin, 2.Jun.2019) — Mexico’s President Andrés Manuel López Obrador reiterated his decision to build the new Dos Bocas Refinery and continue with the planned modernization of...
Mexico Charges Former Oil Official With Bribery In Anticorruption Drive
(New York Times, Kirk Semple and Azam Ahmed, 28.May.2019) — The administration of President Andrés Manuel López Obrador of Mexico has launched its first major anticorruption prosecution, delivering on a...
Mexico’s State Oil Entity Pemex Swings To Loss In First Quarter
(Reuters, Ana Isabel Martinez, 30.Apr.2019) — Petroleos Mexicanos swung to a 35.7 billion peso ($1.84 billion) net loss during the first quarter as revenues and crude output at the heavily-indebted...
Mexico’s Oil Production In April 2019 Down 1% M-O-M, Down 10% Y-O-Y
(Energy Analytics Institute, Jared Yamin, 22.Apr.2019) — Mexico’s oil production continues to trend downward, according to recent data revealed by government officials. Oil production is currently averaging around 1.685 million...
7 Oil & Gas Problems That Mexico Must Solve
(Forbes, Jude Clemente, 21.Apr.2019) — 1. Since peaking in 2004, Mexico's oil production has been sliced in half to below 2 million b/d Although nearly 45% back then, oil revenues...
CNH Reports 6.9% Drop In Mexico’s Combined 1P Reserves
(Energy Analytics Institute, Jared Yamin, 12.Apr.2019) — Mexico’s National Hydrocarbons Commission (CNH by its Spanish acronym) announced the country’s combined proved (1P) natural gas and crude oil reserves fell 6.9%...
Q&A: Mexico Oil Regulator Says Slow Wins The Race
(Argus, 4.Apr.2019) — Mexico’s oil regulator CNH administers more than 100 contracts for oil and natural gas exploration and production (E&P) that will attract $161bn in investment if all licenses...
Opinion: The Incredible Plunder of Mexico’s Black Gold
(The New York Times, Ioan Grillo, 26.Mar.2019) — In the first months of this year, the word “huachicolero” — once a rarely used term — has been on the lips...
Mexico Scrambles To Save Its Sinking Oil Company
(Oxford Business Group, 25.Mar.2019) — On February 15 President Andrés Manuel López Obrador (AMLO) announced the launch of Pemex’s Strengthening Programme, a six-year plan designed to improve the company’s financial...
Mexico’s AMLO Takes Nationalist Tone On Energy During First 100 Days
(Houston Chronicle, Sergio Chapa, 21.Mar.2019) — Canceled energy auctions, halted pipeline projects, a ban on hydraulic fracturing, a showdown with fuel thieves, political pressure on regulators to resign and plans...
Mexico Could Pay Pemex Debt From $15 Billion Stabilization Fund
(Reuters, 21.Mar.2019) — Mexico’s deputy finance minister said on Thursday the government was considering using part of a $15.4 billion public income stabilization fund to pay some debt obligations for...
Pemex Plans To Triple Oil Well Drilling This Year To Boost Output
(Reuters, David Alire Garcia, 18.Mar.2019) — Mexico’s national oil company Pemex plans to triple the number of wells it will drill this year, the company’s chief executive said on Monday,...
Mexico Invites Three U.S. Companies, Foreign Firms To Bid On New Refinery
(Reuters, Ana Isabel Martinez, David Alire Garcia, 18.Mar.2019) — Mexico invited a host of international firms, including three U.S. companies, to bid on the construction of an $8 billion oil...
Mexican Voters Love Their President, But Investors Are Wary
(Bloomberg, Nacha Cattan, 7.Mar.2019) — Mexican President Andrés Manuel López Obrador, or AMLO as he’s known, is doing spectacularly well with voters 100 days into his term. The latest survey...
Pemex Posts $7.6 Billion Loss In 2018 As Oil Output Dips
(Reuters, 28.Feb.2019) — Mexican state oil company Pemex said on Wednesday its losses narrowed in 2018, helped by currency exchange gains as crude production and refining rates continued to decline....
AMLO Sounds Death Knell For New Pemex Joint-Venture Partnerships
(Bloomberg, Amy Stillman, 21.Feb.2019) — Mexico President Andres Manuel Lopez Obrador is freezing new joint-venture contracts with Petroleos Mexicanos, squashing investors’ final hopes that the Mexico energy reforms can be...
Mexico To Support Indebted State Oil Firm Pemex With $3.6B
(Oilprice.com, By Tsvetana Paraskova, 15.Feb.2019) — Mexico will support Pemex by injecting US$3.6 billion into the debt-laden state-held oil firm, including by refinancing debt and cutting taxes, Mexican officials said...
Mexico President Says Will Respect Pipeline Deal Despite Costs
(Reuters, 12.Feb.2019) — Mexican President Andres Manuel Lopez Obrador said on Tuesday he will respect contracts that companies have with state-run power utility CFE for pipelines that are not operational...
Mexico Seeks To Revise Private Pipeline Contracts
(Wall Street Journal, Anthony Harrup, 11.Feb.2019) — President Andrés Manuel López Obrador said the Mexican government wants to revise natural-gas pipeline contracts with private companies under which the state-owned electric...
IEnova Comments On Contract With Mexico’s CFE, and Its Employees
(IEnova, 11.Feb.2019) — Infraestructura Energética Nova (IEnova) clarifies the following regarding its natural gas pipelines in Mexico. IEnova is a Mexican company that has operated in the market for 22...
Mexico Says Not Considering Importing More Crude Oil
(Reuters, 28.Jan.2019) — Mexico is not considering importing any more crude oil after it imported from the United States at the end of last year, Energy Secretary Rocio Nahle told...
Can Mexico Stop Its Oil Production Decline?
(Oilprice.com, Tsvetana Paraskova, 24.Jan.2019) — Five years after former president Enrique Peña Nieto ended Pemex’s monopoly and opened Mexico’s oil industry to private foreign investment, the new administration is betting...
LatAmNRG Briefs: BAML Says Mexico’s Fuel Shortages Will Not Impact Inflation
[caption id="attachment_6297" align="alignnone" width="1024"] Source: La Jornada[/caption] (Energy Analytics Institute, Jared Yamin, 16.Jan.2019) — Heard on the street and LatAmNRG briefs on Mexican petroleum sector backs AMLO actions against fuel...
Mexican Oil Theft Even Reached Drilling Rigs, President Says
(Reuters, 15.Jan.2019) — Mexican President Andres Manuel Lopez Obrador said on Tuesday that widespread fuel theft extended to oil drilling platforms and he pledged to take actions to alleviate shortages...
Pemex Urges Citizens To Avoid Panic Shopping For Fuel
(Pemex 9.Jan.2019) — The Mexican Government, through Petróleos Mexicanos, calls for the public to avoid panic shopping, as this could generate a fuel shortage. Once more, it reminds the public...
Fuel Theft Offensive Causes Gasoline Shortage In Mexico
(Oilprice.com, Irina Slav, 7.Jan.2019) — Mexican drivers in several states are struggling to fill their tanks as the new government fights massive fuel theft by seeking to move more gasoline...
Mexico Fuel Theft Crackdown Sparks Shortages, Puts Gov’t On Defensive
(Reuters, 7.Jan.2019) — Mexican President Andres Manuel Lopez Obrador said on Monday that his crackdown against fuel theft was yielding positive results, even as the intervention sparked severe fuel shortages...
Pemex Makes Progress In Supplying Fuel To Affected States
(Pemex, 6.Jan.2019) — By mandate of the Mexican Government, Pemex has made significant progress in restoring fuel distribution, using various alternative supply lines in the affected states. Although there have...
Pemex Responds To Delays In Fuel Distribution
(Pemex, 5.Jan.2019) — Petróleos Mexicanos reports that safer transportation methods are being used as part of the Joint Plan of the Mexican Government to combat fuel theft, which has caused...
Mexico Kicks Off War On Its Vast Black Market For Oil
(Wolf Street, Don Quijones, 1.Jan.2019) — “We’re not just talking about the theft of oil, but about a plan involving government insiders and a complex distribution system. It’s not easy...
Mexico’s Renewed Focus On Oil And Natural Gas
(Forbes, Jude Clemente, 30.Dec.2018) — Mexico’s new President Andrés Manuel López Obrador(AMLO) took office on December 1 and will serve one six-year term. It was the largest landslide in Mexico’s...
Mexican President Calls Fuel Theft An Inside Job
(AP, 30.Dec.2018) — The theft of US$3 billion in fuel every year from Mexico’s state-run fuel depots and pipelines is an inside job, the country’s new president said Thursday. President...
Mexico Aims To Boost Crude Output
(AP, 19.Dec.2018) — Mexican President Andres Manuel Lopez Obrador detailed plans Saturday to “rescue” the national oil industry by boosting crude production at the state-owned oil company by 45 per...
Colombia Looks To Fracking To Revert Declining Production
(NGI, Christopher Lenton, 17.Dec.2018) — Though hydraulic fracturing (fracking) has transformed the energy sector in the United States, only Argentina in Latin America has followed its lead in commercially developing...
LatAmNRG Briefs: Chile, Mexico, Peru, Uruguay
(Energy Analytics Institute, Jared Yamin, Ian Silverman and Aaron Simonsky, 16.Dec.2018) — Heard on the street and other LatAmNRG briefs from Chile on its $515 million Energy Access Fund, Mexico’s...
National Hydrocarbon Plan Aims To Rescue Petróleos Mexicanos
(Energy Analytics Institute, Jared Yamin, 15.Dec.2018) — With the intervention of the Mexican government the most important company in the country will be rescued so that it becomes, once again,...
Mexico Aims To Rescue Pemex With Gov’t Help, Says Oropeza
[caption id="attachment_5666" align="alignnone" width="2850"] Petróleos Mexicanos General Director Ing. Octavio Romero Oropeza. Source: Pemex[/caption] (Pemex, 15.Dec.2018) — The general director of Petróleos Mexicanos, Eng. Octavio Romero Oropeza, affirmed that with...
Mexico Cancels Bidding On Two Oil, Gas Auctions
(Houston Chronicle, Sergio Chapa, 12.Dec.2018) — The Mexican government has cancelled bidding on two auctions that would have allowed hydraulic fracturing in the border state of Tamaulipas and brought more...
Mexico’s New Gov’t Starts Oil Industry Reform With $8-Bn Refinery Overhaul
(Reuters, Alexandre Meneghini, 10.Dec.2018) — Mexico’s new government detailed plans Sunday to build an $8 billion oil refinery in the home state of President Andres Manuel Lopez Obrador and to...
AMLO Announces National Plan For Pemex Refineries
(Energy Analytics Institute, Jared Yamin, 12.Dec.2018) — Mexico’s President Andrés Manuel López Obrador presented the country’s National Refining Plan, which includes rehabilitation of six Pemex refineries, and construction of another...
Mexico’s President AMLO Appoints New Pemex CEO Romero
(Energy Analytics Institute, Jared Yamin, 7.Dec.2018) — Mexico’s President Andrés Manuel López Obrador appointed Engineer Octavio Romero Oropeza as the new CEO of Pemex. Romero assumed the position on December...
AMLO’s Road Toward Energy Independence Is Full Of Potholes
(Bloomberg, Amy Stillman, 6.Dec.2018) — In the tropical heat of southeastern Mexico, bulldozers prep the site of a massive new crude refinery on the outskirts of Paraiso, an impoverished oil...
Mexico’s New President Throws Down Gauntlet To Oil Majors
(Reuters, Frank Jack Daniel and David Alire Garcia, 5.Dec.2018) — Mexico’s new president, Andres Manuel Lopez Obrador, said on Wednesday he would not cancel contracts issued to foreign and national...
Mexico’s Oil Crisis Deepens
(Oilprice.com, Irina Slav, 27.Nov.2018) — Mexico’s state oil company Pemex said it produced an average 1.76 million bpd of crude in October, down 7 percent from October last year, Reuters...
Bright Star of Mexico’s Energy Reform Bowing Out Of Spotlight
(NGI, Ronald Buchanan, 15.Nov.2018) — One of main energizers of Mexico’s nascent energy reform, Juan Carlos Zepeda, has resigned as president of the upstream regulator, the Comisión Nacional de Hidrocarburos...
Officials At Mexico’s Central Bank, Oil Regulator Resign
(Financial Times, Jude Webber, 14.Nov.2018) — A deputy governor of the Bank of Mexico and head of the country’s oil regulator have both stepped down early from their posts, a...
Mexico Should Fix Pemex Finances Before New Refining Investments: IMF
(Reuters, 8.Nov.2018) — The International Monetary Fund (IMF) on Thursday called for an improvement in Mexican state oil company Pemex’s financial position before it invests in building new refineries. Mexico’s...
Fitch’s Mexico Outlook Downgrade Based On Energy Policy Uncertainty
(NGI, Andrew Baker, 6.Nov.2018) — Fitch Ratings late last month revised its outlook for Mexico, citing, among other things, potential energy policies to be implemented by incoming President-Elect Andrés Manuel...
Mexico Spends $1.2 Billion To Lock In Crude Rally For 2019
(Bloomberg, Eric Martin, 30.Oct.2018) — Mexico spent about 23.5 billion pesos ($1.2 billion) through the third quarter from its budget stabilization fund, which historically has been used almost exclusively to...
Private Investment To Drive Mexico’s Oil Production Growth
(Chron.com, Rye Druzin, 24.Oct.2018) — Mexico’s national oil company is expected to only produce 1.9 million barrels a day by 2031. Mexico’s oil production could rebound to 3.5 million barrels...
President-elect Lopez Obrador Slams Pemex For Crude Import Plan
(Reuters, 23.Oct.2018) — Mexico’s president-elect Andres Manuel Lopez Obrador on Tuesday criticized state-run Pemex’s plan to import U.S. light crude from refiner Phillips 66, calling it a sign of the...
Mexico’s Next Government Faces Bind In Pemex Ethane Deal
(Reuters, Diego Oré, 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...
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 Andrés Manuel López Obrador...
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...
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 Andrés Manuel López Obrador (AMLO), would be an error that would benefit...
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...
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...
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...
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...
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...
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...
AMLO to Continue Drilling Service Contracts
(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...
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...
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...
Mexico’s Gov’t to Focus on Boosting Fuel Output
(Reuters, 12.Jul.2018) – Mexico’s next energy agenda will prioritize increasing gasoline and diesel production and later decide on possible changes to the industry reform championed by the outgoing government, according...