Mexico
News
March 15, 2021
Figures from China for the first two months of the year showed a surge in industrial output, underscoring the strength of its V-shaped rebound and reinforcing expectations for increased energy demand.
News
March 15, 2021
Pemex is under pressure to prove that the company is increasing production under the government of President Andres Manuel Lopez Obrador, who swept into power in late 2018, promising to revive it by rolling back the liberalizing energy reforms of his predecessor.
News
February 18, 2021
Lowering Mexico's tax demands on Pemex, its biggest taxpayer, could help the oil giant reorder its finances as it struggles with a $110.3 billion debt load, sinking production, and some of the highest tax obligations of any oil company in the world.
News
January 08, 2021
After a landslide victory in 2018, Mexico's president has cut the knees off a booming renewables market, plowed money into Pemex, and pursued two major infrastructure projects that environmentalists consider ecological disasters.
News
December 03, 2020
The Oil and Gas Climate Initiative's biggest project to date has been to set targets for the reduction of carbon dioxide and methane emissions from its member companies.
News
October 22, 2020
Oil sands producers will benefit from less output of competing crude from Latin America as Pemex expects to cut exports while Venezuelan supplies remain off limits due to U.S. sanctions.
News
October 09, 2020
Petroleos Mexicanos returned to capital markets Thursday for its first debt sale since January as the embattled oil producer seeks to tap improved demand from investors.
News
October 08, 2020
Every year, the Latin American nation locks in the price of its oil exports by buying put options from Wall Street banks. The deal typically roils the market, creating violent swings in the price of oil options.
News
September 18, 2020
AMLO swept into power in December 2018 promising to rescue Pemex by dialing back his predecessor’s 2013-2014 energy reforms, which had ended the company’s nearly eight decades-long monopoly. He has also pledged to ramp up domestic fuel production to reduce dependence on gasoline imports, which account for about 65% of what Pemex sells in Mexico.
News
September 04, 2020
The Mexican government is finalizing the budget proposal for next year, to be handed to congress by Tuesday, trying to square plunging oil income, growing social spending demands and Lopez Obrador’s push for austerity.
News
July 29, 2020
In his first public comments since being extradited from Spain, Emilio Lozoya told a federal judge via video link from a Mexico City hospital that he had been intimidated and used by unnamed people to commit alleged crimes related to a fertilizer plant deal, according to a summary of the proceedings that was provided by court press officials.
News
July 27, 2020
A former head of Mexico’s PEMEX is testifying that lawmakers were bribed to pass a 2014 reform that opened the energy sector to private investment, President Andres Manuel Lopez Obrador said on Friday.
News
July 15, 2020
Mexican legislators allegedly took bribes to vote in favor of a landmark energy reform during the previous administration, and an ex-head of the country’s oil giant will shed light on the matter, President Andres Manuel Lopez Obrador said on Wednesday.
News
July 13, 2020
Talos Energy announced that on July 7, 2020, the company received a notice from Mexico's Ministry of Energy instructing the partners of Block 7 and Pemex to unitize the Zama field. The Zama field extends from Block 7 into the neighboring block to the east, which is operated by Pemex
News
July 08, 2020
World Oil editors discuss the near- and longer-term effects of the Dakota Access pipeline shutdown on U.S. shale, legal precedents being set and who stands to benefit. Also, Pemex appears to be tightening its grip around the neck of the golden goose that is Mexico's oil and gas industry.
News
July 07, 2020
Three contractors that are being asked to defer payment are waiting on $115 million in payouts, according to sources, but the amount owed to companies across Pemex’s supply chain could easily total billions of dollars.
News
June 10, 2020
Mexico’s state oil giant is suspending contracts with service providers and suppliers, triggering thousands of job losses, people with direct knowledge of the situation said.
News
June 10, 2020
SIMMONS EDECO has successfully completed its first drilling contract for Mexico oil and gas operator Newpek, a division of Grupo Alfa, a major player in the food, IT, and automotive sectors in Mexico.
News
May 08, 2020
Simmons Edeco has successfully completed a second series of development drilling of wells for a major oilfield services company in Mexico.
News
April 15, 2020
Pemex hedged its crude exports at an average of $49 a barrel using Asian put-spread options with monthly maturities for the period between Dec. 16 last year and Dec. 15 this year.
News
April 14, 2020
A researcher at China’s biggest oil company said the country’s drillers should copy the hedging strategies of Mexico and shale firms in the U.S., which use financial derivatives to protect against falling oil prices.
