(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. […]
Tag: Pemex
Mexican Group Unhappy About Delayed Auctions
(Reuters, Dave Graham and Ana Isabel Martinez, 19.Jul.2018) – A decision to delay Mexican oil auctions until after the next president takes office does not augur well for opening the country’s energy sector to private investment, the head of a major business association said on Thursday. The government said on […]
Why Is Venezuela Still Sending Subsidized Oil To Cuba?
(OilPrice.com, Haley Zaremba, 17.Jul.2018) – In the past, oil has accounted for 96 percent of Venezuela’s exports and over 40 percent of government revenues. Now, as the nation’s economy continues to crumble amid sanctions, political strife, and low oil prices, the Venezuela’s all-important oil production is plummeting. In fact, last […]
Pemex, Energy Offices to be Moved
(Natural Gas Intelligence, Ronald Buchanan, 13.Jul.2018) – Mexico President-Elect Andres Manuel Lopez Obrador aims to decentralize the government in a sweeping plan to ease the congestion of population, buildings, vehicles and pollution in the “megalopolis” of Mexico City, a strategy likely to impact the country’s energy sector from top to […]
CNH Says Mexico Must Reduce Oil Dependence
(Energy Analytics Institute, Ian Silverman, 13.Jul.2018) – Mexico must reduce its dependence on the United States in regards energy issues. The country can achieve this goal by increasing its refining capacity, reported the daily newspaper La Jornada, citing National Hydrocarbons Commission (CNH by its Spanish acronym) President Juan Carlos Zepeda. […]
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 to a top aide to President-elect Andres Manuel Lopez Obrador. Rocio Nahle, tapped by Lopez Obrador to be energy minister, […]
AMLO Seeks to End Mexico’s Energy Dependence
(TeleSur, 11.Jul.2018) – Mexico’s national energy demand has become highly dependent on the United States. Mexico’s next energy minister under president-elect Andres Manuel Lopez Obrador has said that the new administration’s energy agenda will be to increase domestic gas and diesel production and reduce dependency on foreign imports. Rocio Nahle, […]
Mexican Refineries a Must for “Energy Security”
(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – Given Mexico’s dependence on imported fuel, construction of two new refineries in the country “isn’t a business issue, it’s for energy security,” said researcher and hydrocarbons analyst Fluvio Ruiz AlarcĂłn. Just as recently as May 2018, Mexico imported 520,000 barrels per day of […]
Pemex Alerts Against Criminal Group
(Pemex, 10.Jul.2018) – The State-Owned Productive Company filed a criminal report before the Office of the Attorney General to initiate the investigation of this suspected criminal activity. On June 29th, PetrĂłleos Mexicanos filed a criminal claim before the Office of the Attorney General (initials in Spanish: PGR), upon detecting that […]
Pemex Alerts on Fraud Via Identity Theft
(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – Pemex filed a complaint with the Attorney General’s Office demanding the entity investigate the alleged crimes. In its complaint, Mexico’s state oil company PetrĂłleos Mexicanos warned that a criminal group had been seizing the identities of officials in order to carry out the […]
Renaissance Approved to Develop Chiapas Blocks
(Renaissance Oil Corp. 9.Jul.2018) – Renaissance Oil Corp. received final authorizations from the relevant Mexican authorities to proceed with the development program on the company’s three 100% held producing properties in the state of Chiapas. This development program, designed to significantly enhance production along with the exploration of new formations, […]
Mexichem to Buy Petroquimica Mexicana de Vinilo Stake
(Reuters, 6.Jul.2018) – Mexican chemicals and plastic pipe maker Mexichem agreed to buy state oil firm Pemex’s stake in chemical manufacturer Petroquimica Mexicana de Vinilo. Mexichem said it would pay roughly $178.7 million for Pemex’s 44.09 percent stake in the company, while Pemex separately said that the sale would help […]
Why Mexico’s Energy Reform Needs AMLO
(The Council on Foreign Relations, Amy Myers Jaffe, 20.Jun.2018) – Mexico’s energy reform has taken important first steps but to come to full fruition, several additional critical reforms remain to be designed and implemented, including another constitutional reform. The task of adopting and implementing new reforms is all the more […]
Pemex on High Alert over Hurricane Bud
(Pemex, 12.Jun.2018) – Pemex reports that, due to the arrival of Hurricane Bud to the shores of the Mexican Pacific, it is continuously monitoring the situation and preparing to activate the company’s Hurricane Emergency Response Plan (initials in Spanish: PREH). As part of the PREH safety protocols, the company is […]
Pemex Reports Rise in Illegal Pipeline Connections
(Energy Analytics Institute, Aaron Simonsky, 12.Jun.2018) – Illegal pipeline connections detected by state oil company PetrĂłleos Mexicanos (Pemex) continue their upward trend.  In April of 2018, the illegal connections rose to 1485, the most reported this year, which represent a 94% increase over the same month in 2017, reported the […]
Pemex Lets Contract for Tula Refinery
(Oil and Gas Journal, Robert Brelsford, 11.Jun.2018) – Mexico’s Petroleos Mexicanos (Pemex), through its processing subsidiary Pemex Transformacion Industrial (formerly Pemex Refinacion), has let a contract to a partnership of Saipem SPA and Mexican subsidiary Saimexicana SA de CV for works to be carried out on the heavy oil (H-Oil) […]
Observing Controls In Mexico’s Energy Sector
(Control Risk, Armando Ortega, 11.Jun.2018) — For decades, the most relevant compliance legislation for international companies operating in Mexico was the US Foreign Corrupt Practices Act. Now, as a result of major national economic and legal reforms enacted during President Peña Nieto’s administration from 2012-2018, Mexico’s compliance environment has undergone […]
What is in store for Mexican oil under a new leader?
(Financial Times, Nick Butler, 10.Jun.2018) Among this year’s many elections — from Iraq to Malaysia to Russia — none is more important for the international energy business than the presidential race in Mexico, which will be held on July 1. Unless the polls are all badly awry, the candidate of […]
Howard Injects Natgas into Texas-Mexico Pipeline
(Reuters, 9.Jun.2018) — Howard Energy Partners told U.S. energy regulators that it began injecting natural gas into the Impulsora natural gas pipeline project from Texas to Mexico on May 30, according to a filing made available this week. The Impulsora pipeline is part of the 190-mile (305-km)Nuevo Era system that […]
Pemex, Hidalgo Govt to Partner to Boost Development
(Pemex, 5.Jun.2018) – The CEO of PetrĂłleos Mexicanos, Carlos Treviño Medina, and the Governor of the State of Hidalgo, Omar Fayad Meneses, signed a memorandum of understanding, to promote and boost economic development in the region and strengthen the activities of the oil industry in the State. During a meeting […]
North America’s Energy Future on Trial in Mexico
(Brookings, Carlos Pascual, David G. Victor, and Rafael Fernandez de Castro, 5.Jun.2018) – On July 1, Mexicans head to the polls to select their next president. While it has become fashionable to wall Mexican matters away from American politics, in reality the Mexican election could transform the North American community. […]
Pemex Says JV Wins Bid to Rehabilitate H-Oil Plant at Tula Refinery
(Energy Analytics Institute, Ian Silverman, 31.May.2018) – The partnership Saipem S.P.A / Saimexicana S.A. de C.V won the bid to rehabilitate the H-Oil Plant at the Miguel Hidalgo refinery. Mexico’s state oil company PetrĂłleos Mexicanos announced in an official statement results of the bidding process for rehabilitation and commissioning works […]
Mexico’s Vista Oil & Gas Signs Onshore JV With Jaguar
(Reuters, 23.May.2018) – Mexican energy investment firm Vista Oil & Gas will tie up with Jaguar Exploracion y Produccion on three onshore projects, the company said on Tuesday, acquiring 50 percent stakes with an initial payment of nearly $27.5 million. Vista will pay Monterrey-based Jaguar a further $10 million to […]
Mexican Drillers Sign 1st Deal Without State Oil Giant
(Bloomberg, Amy Stillman, 22.May.‎2018‎) – Two upstart Mexican drillers have signed the first farm-out deal in Mexico’s oil sector that doesn’t include state company Petroleos Mexicanos. Jaguar Exploracion y Produccion agreed to sell a 50 percent stake of three onshore areas in Tabasco and Veracruz to Vista Oil & Gas […]
PEMEX Seeks Partners for Seven Onshore areas
(Energy Analytics Institute, Aaron Simonsky, 3.May.2018) – Mexico’s state oil company PEMEX is seeking partners for land grouped into seven onshore areas containing light and super light crude oil as well as wet gas, announced the country’s National Hydrocarbon Commission (CNH by its Spanish acronym). The seven areas are located […]
Pemex Turns $6 Bln Profit On Oil Prices
(Reuters, 27.Apr.2018) – Mexican state-run oil company Pemex said on Friday its net profit rose 29 percent in the first quarter compared with the year-earlier quarter, helped by higher crude prices and currency movements. The company, one of the largest in Latin America, reported a profit of 113.3 billion pesos […]
Sapura, Partners Awarded Mexico’s Block 30
(Energy Analytics Institute, Ian Silverman, 1.Apr.2018) – The consortium, comprised of three companies, was awarded a block in the southeastern basin of the Gulf of Mexico. “This is a formidable partnership of like-minded companies with significant worldwide experience, which augurs well for future success in Mexico,” said Sapura Energy Berhad […]
Mexico Awards Blocks In Final Oil Auction Before Election
(Reuters, David Alire Garcia & Marianna Parraga, 27.Mar.2018) — Mexico awarded just under half of the 35 shallow-water blocks it tendered on Tuesday, in an auction muddied by the promises of the presidential frontrunner to review contracts awarded under a historic energy opening if he wins the July 1 election. […]
Pemex Signs Shale Contract With Lewis Energy
(Reuters, 26.Mar.2018) — Mexican state oil company Pemex said on Monday it had signed a contract with U.S. firm Lewis Energy for the exploration and extraction of a shale gas deposit in the north of the country, in the Eagle Ford formation. Pemex said it expected the contract, in the […]
Process for Pemex Second Farm-Out Begins
(Pemex, 7.Mar.2017) – The approval of the bidding process for the selection of a partner for the exploration and extraction of the Ayin and Batsil fields in the coastline of Tabasco, it strengthens the PetrĂłleos Mexicanos strategy to establish associations to stabilize the oil production and to begin increasing it […]
Mexico In Full Swing
(Petroleum Economist, Aldo Flores-Quiroga, 8.Feb.2018) — Mexico’s oil and gas industry will be completely open to private investment by end-2018. For the first time in almost eight decades, domestic and foreign companies will be allowed to do business throughout the value chain, from oil exploration to service stations. Free entry […]
Petroteq Energy, Pemex Ink Deal
(Energy Analytics Institute, Jared Yamin, 1.Feb.2018) – In January Petroteq Energy Inc. reached an agreement with Mexico’s state-owned oil entity Pemex. Through its Petrobloq subsidiary, Petroteq is developing a supply chain management system for Pemex that could improve efficiency, announced Petroteq in an official statement. ***
Mexico Tops BP Growth Plans
(Reuters, Jessica Resnick-Ault, 17.Jan.2018) – BP is expanding its retail presence with plans to open 3,000 branded retail stations globally in the next five years, half in Mexico, as that market becomes increasingly open to international business. The company already has over 100 retail outlets in Mexico, many operated by […]
Open Season Fees, Delays Puzzle Mexico’s Investors
(Platts, 11.Aug.2017) — Pemex has yet to announce the next phase of its refined products logistics open season, which could be impacting investment decisions on new midstream projects in Mexico, according to sources. Mexico’s petroleum liberalization does not call for the sale of Pemex logistics assets. But the use Pemex’s […]
CFE Cancels Baja California Sur Natural Gas Project
(Platts, 30.Jun.2017) — Mexican state-run utility CFE has canceled its auction to bring natural gas into the Pacific state of Baja California Sur, the company said. CFE said the gas project isn’t necessary as its new underwater transmission line project will fulfill the electricity needs of the state. “By opting […]
Venezuela Output To Fall 100-150 Mb/d in 2017
(Energy Analytics Institute, Piero Stewart, 26.Mar.2017) – An inability to boost foreign and domestic investments in Venezuela’s oil sector in 2017 will result in further declines in the Caribbean nation’s production of crude oil, according to IESA Professor Richard Obuchi. Producing petroleum requires investments, and if they do not materialize, […]
Peña Nieto Presides Over Commemoration Ceremony
(Pemex, 18.Mar.2017) – Mexican President Enrique Peña Nieto presided over the commemoration ceremony on March 18, 2017 at the maritime terminal of Ciudad del Carmen, Campeche. He assured that PetrĂłleos Mexicanos is the most representative company of Mexico and an important part of the country’s national identity. “We are,” he […]
Pemex Director Visits Families of Salamanca Accident
(Pemex, 17.Mar.2017) – JosĂ© Antonio González Anaya, General Director of PetrĂłleos Mexicanos, met with the family members of the workers who were injured in the explosion of the Dispatch Terminal in Salamanca. He visited the family of the worker who is being cared for at the Hospital in Picacho in […]
Mexico’s Fuel Consumption in January 2017
(Energy Analytics Institute, Fidencio Casillas, 12.Mar.2017) – Mexico consumed 193 million liters of fuel in January 2017, state oil company PetrĂłleos Mexicanos (Pemex) Gasolinera wrote in a twitter post. Of the total consumption, approximately 130 million liters or equivalent to 817,000 barrels per day (67 percent of total consumption) corresponded […]
Pemex Director Meets Oil Sector Leaders
(Pemex, 8.Mar.2017) – The General Director of PetrĂłleos Mexicanos, JosĂ© Antonio González Anaya, had an intense activity during CERA week, the most important event of the oil industry globally, which is held annually in the city of Houston. Throughout three days, he met with directors of various oil companies and […]
Pemex, BHP Billiton to Develop Trion Block
(Pemex, 3.Mar.2017) – PetrĂłleos Mexicanos and the Australian company BHP Billiton signed an agreement to develop the deep-water Trion Block during an event hosted by the President of Mexico, Enrique Peña Nieto. This is the first farm out agreement that Pemex has undertaken to explore and produce and is the […]
Renaissance, Lukoil to Partner in Amatitlán Block
(Renaissance Oil Corp., 11.Jan.2017) – Renaissance Oil Corp. announced that PJSC LUKOIL, one of the world’s largest oil producers, has chosen Renaissance as their partner for the Integrated Exploration and Production Contract for the 230 km2 (56,800 acres) Amatitlán block, near Poza Rica, Veracruz, Mexico. Highlights — Renaissance acquires 25% […]
Mexico’s Double-Digit Gasoline Price Increase
(Energy Analytics Institute, Fidencio Casillas, 5.Jan.2017) – The prices of gasoline in Mexico is set to increase gradually and up to 20 percent on average, effective January 1, 2017, although the increases were originally planned to take place in 2018, reports La Radio del Sur. With the stipulated price increases […]
Pemex to Make Peso Payment to Suppliers
(Energy Analytics Institute, Fidencio Casillas, 6.Jun.2016) – Pemex is preparing to make payments of nearly 30 billion Mexican pesos to its providers, announced a company executive. The Mexico City-based oil company paid 95 billion Mexican pesos to providers in late May 2016, reported the daily newspaper LaJornada, citing Pemex General […]
Pemex Gasoline Consumption At 22% of Total Vs. 8% in 2011
(Energy Analytics Institute, Fidencio Casillas, 5.Jun.2016) – The consumption of premium gasoline in Mexico has evolved favorably over the last six years with the Premium grade gaining territory on the Magna grade. Between 2011 and 2016, the consumption of Pemex’s Premium grade gasoline within the Mexican border increased to 22 […]
Pemex and Mexichem Inform the Loss of 13 Workers
(Pemex, 21.Apr.2016) – Pemex’s CEO, JosĂ© Antonio González Anaya; Civil Protection National Coordinator from the Ministry of the Interior, Luis Felipe Puente, and Mexichem’s CEO, Antonio Carrillo, covered the Clorados 3 Plant of PetroquĂmica Mexicana de Vinilo (PMV) located in Coatzacoalcos, which is operated by Mexichem and co-owned by Pemex. […]
Pemex: PMV Plant in Coatzacoalcos Under Control
(Pemex, 20.Apr.2016) – The current situation in the Clorados 3 Plant of PetroquĂmica Mexicana de Vinilo’s (PMV) in Coatzacoalcos, is under control and presents no risk to the population. This was pointed out during a press conference by Pemex CEO JosĂ© Antonio González Anaya; the Governor of Veracruz, Javier Duarte; […]
Finance Ministry, Pemex Meet With Investors
(Pemex, 19.Apr.2016) – The Minister of Finance and Public Credit, Luis Videgaray, and the Pemex CEO JosĂ© Antonio González Anaya, met in New York with investors, analysts, and executives of financial institutions to emphasize the economic prospects of the company and investment opportunities that resulted from the implementation of the […]
Finance Ministry, Public Credit Support Pemex
(Pemex, 13.Apr.2016) – Given the difficult situation of global low oil prices, Pemex faced a liquidity problem, while not a solvency one. In this context, Pemex continues to focus on two main courses: the adjustment of its cost structure and the implementation of a business strategy based on the Energy […]
Keppel FELS Delivers Another Two Rigs
(Keppel FELS, 27.Mar.2016) – Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), delivered two jackup rigs to Mexican company, Grupo R. Built to Keppel’s proprietary KFELS B Class design, the rigs, CANTARELL I and CANTARELL II, will be chartered to PEMEX, […]