Pemex Archives - Page 7 of 16 - Editores LatinPetroleum

ANALYSIS: Mexico and Canada aim to step up LNG efforts

HOUSTON, TEXAS (By Pietro D. Pitts, Energy Analytics Institute, 5.Nov.2024, Words: 750) — It’s another landmark moment for North American energy. That is, after Mexico shipped its madden LNG cargo this summer from a facility in Altamira, Mexico off the Atlantic coast. That shipment officially propelling the Latin American country […]

LatAm NRG matters: highlights, heard from Pampa Energia to Ecopetrol and Petrobras

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 1.Nov.2024, Words: 489) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 1 Nov. 2024. —Argentina: Citigroup downgraded Pampa Energia to neutral from buy, adjusted its price target to $75/shr v $58/shr; Citigroup also upgraded YPF to buy […]

Mexico’s Sheinbaum looks to reduce costs at state-owned energy giant Pemex

MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 30.Oct.2024) — Mexico’s President Claudia Sheinbaum Pardo said the main plan for state-owned Pemex was to make the company more efficient internally. Sheinbaum told the media that Pemex had three subsidiaries and 40 affiliates, which made it complex to administer the company.

Pemex Reveals 3Q:24 Results, 1.8 MMb/d Output Goal (PDF Downloads)

(Pemex, 29.Oct.2024) — During the third-quarter 2024 (3Q:24) Petróleos Mexicanos (Pemex) maintained its commitment to provide timely support for operations, employing resources responsibly and efficiently. The Exploration and Production strategy prioritized activities in shallow waters and onshore areas, primarily focusing on promoting the accelerated development of new fields and reducing […]

Pemex’ 3Q:24 production averaged 1.76 MMb/d, while debt falls to $97.3bn

MEXICO CITY, MEXICO (By Fidencio Casillas, Energy Analytics Institute, 29.Oct.2024) — Mexico’s state-owned Pemex reported average liquids and condensate production of 1,764 Mb/d in the third-quarter 2024, of which 549 Mb/d or 31% reportedly came from new developments. In an official statement related by Pemex on 29 Oct. 2024, the […]

Constitutional reform to strengthen Pemex and CFE, Sheinbaum says

MEXICO CITY, MEXICO (By Piero Stewart, Energy Analytics Institute, 28.Oct.2024, Words: 185) — Mexico’s constitution reform is very important as it represents returning Pemex and the Federal Electricity Commission (CFE) to the Mexican people, Mexico’s president Claudia Sheinbaum Pardo told the media in Mexico City. To a certain point the […]

Pemex Looks to Boost Reserves During Sheinbaum Presidency

(Reuters, 23.Oct.2024) — Mexican state oil company Pemex aims to increase its hydrocarbon reserves and ensure their restitution during the government of new President Claudia Sheinbaum, according to an internal Pemex document seen by Reuters on Wednesday. It will also intensify deepwater exploration and develop new business models to attract […]

PEP Reveals Goals and Actions for 2024-2030

(Energy Analytics Institute, 19.Oct.2024) — Pemex Exploration and Production (PEP) announced actions and goals it will pursue during the 2024-2030 timeframe under Mexico’s new President Claudia Sheinbaum. Actions to strengthen PEP include:• Strengthening and increasing exploratory activity with 3D seismic, in order to promote new developments.• New developments will be […]

LatAm NRG matters: highlights, heard from Brazil and Cuba to Mexico and Venezuela

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 18.Oct.2024, Words: 494) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 18 Oct. 2024. —Brazil: TotalEnergies will divest its fuel distribution activities in Brazil to the Brazilian co. SIM Distribuidora, the French co. said.

Deadly Houston Fire Highlights Pemex’s Grim Safety Record

(Bloomberg, 14.Oct.2024) — A fatal accident last week at a Houston-area refinery was another reminder of the risks posed by the oil industry that dominates much of the city. The vast Deer Park facility, owned by Mexico’s state-owned oil company Petroleos Mexicanos, halted some of its operations after a hydrogen […]

Pemex Deer Park Scales Back Operations after Accident

(Reuters, 12.Oct.2024) — Mexican national oil company Pemex‘s Deer Park oil refinery near Houston will operate this weekend at a low level following a deadly chemical leak a couple days ago, the company said in a statement late on Friday. The state-owned oil company added that it continues to investigate the cause of […]

LatAm NRG matters, highlights, heard: YPF partner search, Woodside acquires Tellurian

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 11.Oct.2024, Words: 520) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 11 Oct. 2024. —Argentina: YPF S.A. continues to search the world over for potential partners to enter into the Argentina LNG project to be domiciled in […]

Pemex’ general director Padilla provides Deer Park accident update

MEXICO CITY, MEXICO (Energy Analytics Institute, 11.Oct.2024) — Petróleos Mexicanos (Pemex) general director Víctor Rodriguez Padilla provided an immediate briefing related to the 10 Oct. 2024 accident at the state company’s Deer Park refinery in Houston, Texas. Padilla said a sulfur gas leak at the refinery in Houston impacted 35 workers of […]

CSB to Probe Fatal Release at Pemex Refinery in Deer Park

(CSB, 11.Oct.2024) — The U.S. Chemical Safety and Hazard Investigation Board (CSB) announced that it is launching an investigation into a fatal release of hydrogen sulfide at the Pemex petroleum refinery in Deer Park, Texas, which occurred yesterday, October 10. Two contract workers died as a result of the release, […]

New Pemex refinery at about 80% of capacity: Sheinbaum says

MEXICO CITY, MEXICO (Reuters, 10.Oct.2024, Words: 220) — Mexico’s state-owned Pemex’s new oil refinery is processing crude at about 80% of its capacity, the country’s president said on Thursday, an amount that marks a big jump from the company’s latest official data. The Olmeca refinery located near Mexico’s Gulf coast port of Dos Bocas […]

Mexico’s New President Promises to Resume Fight Against Climate Change

(AP, 5.Oct.2024) — In her first days as Mexico’s new president, Claudia Sheinbaum made a point of distancing herself from the fossil fuel reliance promoted by her predecessor and mentor, Andrés Manuel López Obrador, and vowed to resume an energy transition that he halted. “We are going to boost renewable […]

LatAmNRG matters, highlights, heard: Argentina LNG, $7.3bn Amber-Citgo deal

HOUSTON, TEXAS (By editors at Energy Analytics Institute, 4.Oct.2024, Words: 423) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian energy giant Petronas, which has generated a ton of noise in recent wks about its rumored departure from […]

Pemex Posts Drop in Oil Output as AMLO Exits

(Reuters, 27.Sep.2024) — Crude output by Pemex fell in August as Mexico’s national oil company failed to reduce fuel imports in line with company targets, while overall falling well short of the lofty energy trade goals of the country’s outgoing president. While locally produced petroleum product volumes rose during the […]

Sheinbaum taps first woman to lead state power firm CFE

(Reuters, 12.Aug.2024) — Mexican President-elect Claudia Sheinbaum on Monday named Emilia Esther Calleja to lead state power firm Comision Federal de Electricidad (CFE), making her the first woman to hold the post. Calleja has held a number of posts at the power company over the past two decades and adds […]

Pemex Reports 2Q:24 Financial, Operational Results

(Pemex, 26.Jul.2024) — Regarding financial results, Pemex reported a net loss of MXN 255.9bn was obtained in 2Q:24, MXN 281.4bn lower than the net profit of MXN 25.4bn obtained in 2Q23. The 10.2% depreciation of the peso against the dollar during 2Q:24 had a negative impact, resulting in an exchange loss […]

Experts Call for ‘Serious’ Debate About Fracking in Mexico

(S&P, 16.Jul.2024) — Given the large amount of unconventional hydrocarbon resources found in Mexico and how much fracking technology has advanced, the country cannot afford to neglect their exploitation without a serious debate, experts said at an energy forum held at the Mexican Senate. According to data from the National Hydrocarbons […]

US-Mexico Energy Trade Value Fell in 2023

(EIA, 15.Jul.2024) — The value of all energy trade between the United States and Mexico decreased almost 15% from $77.8bn in 2022 to $66.5bn in 2023, adjusted for inflation. Lower fuel prices more than offset the increase in the volume of energy trade between the two countries. Energy trade value […]

Mexican Billionaire Carlos Slim Wants to Join Pemex in Deepwater Natural Gas Project

(Reuters, 17.Jun.2024) — Mexico’s President Andres Manuel Lopez Obrador said on Friday that businessman Carlos Slim is interested in participating in the country’s first deepwater natural gas project, working alongside state energy company Pemex. In March, Reuters reported that Pemex officials and the billionaire tycoon’s team were discussing ways to […]

Mexico’s Sheinbaum seen Tapping Political Heavyweights for State Energy Jobs

(Reuters, 12.Jun.2024) — Mexico’s former foreign minister, the scion of a legendary political family, and a party boss are in contention for top energy-related jobs in President-elect Claudia Sheinbaum’s government, sources said, suggesting political savvy will trump technical expertise in running state energy companies. The cabinet of President-elect Claudia Sheinbaum […]

PEMEX Concludes Working Sessions with Suppliers

(PEMEX, 23.May.2024) — The CEO of Petróleos Mexicanos (PEMEX), Octavio Romero Oropeza, concluded a three-day round of working sessions held in Villa Hermosa, Tabasco, and in Ciudad del Carmen, Campeche, where he engaged in a direct dialogue with suppliers and contractors who maintain commercial relations with the country’s most important […]

PEMEX reaffirms commitment to pay suppliers

MEXICO CITY, MEXICO (PEMEX, 22.May.2024, Words: 291) — The CEO of Petróleos Mexicanos (PEMEX), Octavio Romero Oropeza, currently on a working tour of the southeastern part of the country, is holding a series of meetings with PEMEX’s main suppliers. Besides reaffirming the institution’s commitment to ensure outstanding payments, he is […]

AMLO’s ‘Dream’ Pemex Refinery Hits Another Delay

(Reuters, 17.May.2024) — Mexican state energy company Pemex started sending 16,300 barrels per day (bpd) of crude oil to its new Olmeca refinery this week, less than 5% of its total capacity, internal data seen by Reuters showed, signaling another delay. President Andres Manuel Lopez Obrador had built hugely ambitious infrastructure project in his […]

Interest Remains in Mexico’s Oil and Gas

(S&P, 15.May.2024) — There is still a lot of private and international interest in developing the oil and natural gas resources in Mexico despite the shift towards state control by President Andres Manuel Lopez Obrador, panelists said during an energy and infrastructure forum May 14-15. However, if Mexico again opened […]

PEMEX Continues Path to Transformation

(PEMEX, 3.May.2024) — During the morning press conference held by the President of Mexico, Andrés Manuel López Obrador, the CEO of Petróleos Mexicanos (PEMEX), Octavio Romero Oropeza, described the operational, financial and administrative progress of the institution for the 2019-2024 period, as part of the strategy to achieve energy self-sufficiency. […]

Potential Sour Crude Deficit Looming in the Gulf

(BTU Analytics, 23.Apr.2024) — Historically, more than half of Mexico’s heavy sour crude oil exports, mostly Maya blend, end up in the U.S., which is key for refining along the Gulf Coast, also known as PADD 3. However, recent reports suggest Mexico’s national oil company, Petróleos Mexicanos (Pemex), could cut […]

Pemex to Remain A Fiscal Challenge for Next President of Mexico

(S&P Global Ratings, 15.Apr.2024) — Mexico’s relationship with state-owned oil giant Pemex will remain a fiscal challenge for the country’s next presidential administration, said S&P Global Ratings in “Pemex Will Remain A Fiscal Challenge For Mexico’s Next President.” The national elections in June encompass the presidency and both chambers of […]

Mexico’s Zama Project Undergoing Changes in Engineering Design

(Offshore staff, 12.Mar.2024) — The Zama offshore oilfield development project operated by state company Pemex has been “delayed for the right reasons,” according to Talos Energy Chief Executive Tim Duncan. Duncan said that the delay will allow needed changes to the engineering design that will enable the project to move […]

Woodside Gets Social Impact Assessment Approval for Trion

(Woodside Energy, 13.Feb.2024) — Woodside announced the Trion oil and gas project has received approval for its Social Impact Assessment from the Mexican Ministry for Energy. The Social Impact Assessment was submitted in May 2023. It provides a comprehensive assessment of the project and outlines the ways in which Woodside […]

Pemex’ ESG Outlook [PDF Download]

(Pemex, 31.Jan.2024) — Pemex‘ sustainability plan will focus on the most material components related to the oil and gas industry. And, the three main areas of focus include: emissions reduction and energy transition strategy, industrial safety and health and social and governance. ____________________

Wood inks engineering design for 100,000 b/d Trion project offshore Mexico

MEXICO CITY, MEXICO (By Fidencio Casillas, 8.Jan.2023, Words: 240) — Wood secured a contract from HD Hyundai Heavy Industries for detailed engineering of the topsides facilities on Woodside Energy‘s Trion Floating Production Unit (FPU) in Mexican waters of the Gulf of Mexico. Once finished, Trion will have a production capacity […]

Pemex Reports 3Q:23 Results [PDF Downloads]

(Pemex, 27.Oct.2023) —In the third quarter of 2023 (3Q23), Petróleos Mexicanos‘ operating performance was positive, supported by a responsible financial policy. In exploration and production, the strategy continued to favor the accelerated development of new fields, the reduction of times between development and start-up, the early incorporation of production from […]

EAI’s NRGBriefs: Aug. 2023

(Energy Analytics Institute, 31.Aug.2023) — Energy briefs as well as others related to finance and projects during August 2023 including Petrobras commenting on divestment process related to the LUBNOR refinery; Petrobras commenting on Sete Brasil; FMC Corporation on revenues in Latin America in the second quarter 2023; Sempra appointing Richard Mark to […]

Cuban Oil Tankers Becoming Regular Visitors to Mexican Ports

(Reuters, 10.Aug.2023) — Cuba has begun using its own tankers to ramp up crude imports from Mexico, which in the second quarter surpassed Russia as a key oil provider to the fuel-thirsty island, according to vessel monitoring data. Following days-long lines to fill drivers’ tanks and power blackouts, the communist-run nation saddled […]

Talos Energy Reveals 2Q:23 Operational and Financial Results

(Talos, 8.Aug.2023) — Talos Energy Inc. (NYSE: TALO) announced its operational and financial results for fiscal quarter ended June 30, 2023. Key Highlights: Drilled a successful commercial discovery at the Talos-operated Sunspear prospect.Announced a transaction with Grupo Carso, selling a 49.9% interest in Talos Energy Mexico 7, S. de R.L. de C.V. (“Talos […]

Woodside makes $7.2bn FID for Trion offshore Mexico [PDF download]

PERTH, AUSTRALIA (By Woodside, 20.Jun.2023, Words: 257) — Woodside has made a final investment decision to develop the large, high-quality Trion resource in Mexico. The expected returns from the development exceed Woodside’s capital allocation framework targets and deliver enduring shareholder value. First oil is targeted for 2028. The development is subject to […]

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Paratus Energy Services Ltd Announces 4Q:22 Trading Update

(Paratus Energy, 21.Mar.2023) — Paratus Energy Services Ltd. announced a trading update for the fourth quarter 2022 and updates on Paratus, its subsidiaries and associated companies. 1. Key Financial Highlights 1.1 Paratus In the fourth quarter ending 31 December 2022, Paratus generated $52mn in revenue and $24mn in EBITDA[1]. In the third quarter ending 30 September 2022, Paratus […]

Pemex Lays Out Strategic Plan 2023-27 [PDF Download]

(Energy Analytics Institute, 21.Dec.2022) — Mexico’s state-owned energy giant Pemex revealed its Strategic Plan for 2023-2027 with production growth targets among others for the five-year period. ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.

NFE Finalizes Deals with Pemex Regarding Lakach Offshore Gas Field

(New Fortress Energy, 22.Nov.2022) — New Fortress Energy Inc. (NASDAQ: NFE) has finalized its agreements with Petróleos Mexicanos (Pemex), Mexico’s state-owned oil company, to develop and operate an integrated upstream and natural gas liquefaction project off the coast of Veracruz in Southeastern Mexico. The agreements comprise a long-term strategic partnership, expressly supported by His Excellency […]

Pemex Confirms Damage to Ethane Pipeline in Tabasco

(Energy Analytics Institute, 20.Sep.2022) — State-owned Petróleos Mexicanos (Pemex) said an excavator accidentally hit one of its pipelines, which caused an ethane gas leak that triggered a fire. Pemex confirmed the damaged infrastructure was a 24-inch ethane pipeline that runs from Ciudad Pemex to Cangrejera, the company announced on 20 […]

Pemex Acknowledges Releasing Methane Plume

(The Associated Press, 8.Sep.2022) — Mexico’s state-owned Petroleos Mexicanos oil company acknowledged Thursday it released a plume of methane, a potent greenhouse gas, in the Gulf of Mexico late last year, but said it was far smaller than Spanish researchers said. A report published in June by Spanish university researchers in the […]

Pemex Requests $6.5bn More Funding for ‘Dos Bocas’ Refinery

(Reuters, 12.Aug.2022) — Mexico’s state-oil company Pemex requested this week almost $6.5 billion in additional funding from the government to pay for works at the ‘Dos Bocas’ refinery this year, according to a document and two sources familiar with the matter. The additional funding is to cover works not initially included in […]

Mexico Oil Refinery Accident Leaves 1 Dead, 1 Missing

(AP, 29.Jul.2022) — A fire at an oil refinery operated by Mexico’s state-owned Petroleos Mexicanos company left one worker dead and another missing Friday. The company, known as Pemex, said the accident occurred early when lightning apparently started a fire at a waste processing tank. A pump truck that was […]

NRGBriefs: Pemex Assumes Operation of YÙUM K’AK’NÁAB FPSO

(Energy Analytics Institute, 24.Jul.2022) — Energy briefs including BW Offshore Limited saying Mexico’s state-owned Pemex has assumed ownership and operation of the FPSO YÙUM K’AK’NÁAB. LATIN AMERICA AND THE CARIBBEAN Mexico — BW Offshore Limited said w/ effective from 22 July 2022 that Pemex has assumed the ownership and operation […]

S&P Revises Pemex’s Outlook to Stable

(Reuters, 6.Jul.2022) — S&P Global Ratings revised on Wednesday the outlook for Mexico’s state-oil firm Pemex to stable from negative, after it reviewed Mexico’s long-term outlook. According to the rating agency, high crude oil prices are improving Pemex’s credit metrics, although the company’s weak liquidity continues to affect its assessment […]

NFE Inks Deal with Pemex for Lakach Field, FLNG Deployment Solution

(New Fortress Energy, 5.Jul.2022) — New Fortress Energy Inc. today announced that it has signed an agreement with Petróleos Mexicanos (Pemex) to form a long-term strategic partnership that benefits from the complementary capabilities of each company. The partnership is expressly supported by His Excellency Andrés Manuel López Obrador, the President of Mexico, and by Octavio […]