Mexico
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
January 08, 2020
Mexican President Andres Manuel Lopez Obrador said officials would announce a plan by mid-February that would make clear how private companies could participate in the nation’s energy sector.
News
January 03, 2020
Mexico’s government hedged oil exports for this year at an average $49 a barrel, locking in protection against low crude prices, the nation’s Finance Ministry said.
News
January 02, 2020
A drive to drill new wells at 20 “priority” fields in Mexico largely using smaller, local service providers is faltering, with Pemex expected to re-bid some of the work in the year ahead.
News
December 10, 2019
API joined more than 200 companies and associations covering a wide range of industries in the USMCA Coalition, which has been working to secure the agreement’s approval in Congress.
News
December 10, 2019
Even as Mexico’s president and Pemex’s CEO touted the country’s most important find in three decades, it appears to be far from a panacea for the beleaguered state driller.
News
November 26, 2019
Companies that help keep Mexico’s faltering oil wells operating are waiting months to get paid and the debts are building up, complicating efforts to revive an industry whose production has plunged by half since 2004.
News
November 18, 2019
The government of Andres Manuel Lopez Obrador is changing rules for clean-energy credits, allowing aging hydroelectric dams operated by Mexico’s state-owned utility to qualify. The move, critics say, dilutes the value of credits initially intended for new wind and solar farms.
News
November 12, 2019
Repsol SA is looking as far away as Western Canada for oil for its European refineries amid dwindling supplies from Mexico and Venezuela.
News
November 04, 2019
Paradigm Drilling Services has recently expanded their teams in the Middle East and Mexico to service increasing drilling equipment demand.
News
October 29, 2019
Bonds of Petroleos Mexicanos rose after the producer reported the first output increase in six quarters as it taps easier-to-reach onshore and shallow water fields.
News
October 08, 2019
Maersk Supply Service has secured a 1.5-year contract with Blue Marine Group to support Pemex from subsea support vessel Maersk Installer.
News
API president & CEO Mike Sommers touts energy’s $2 billion economic impact on New Mexico communities
October 01, 2019
American Petroleum Institute president and CEO Mike Sommers today met with New Mexico business leaders, school administrators, and local leaders, who highlighted the transformational role of safe and responsible energy development in the Permian basin on the state’s economy and local communities.
News
September 27, 2019
The departures were sparked by a disagreement within the company over an external review of new formulas created to price oil sales to refiners in the U.S. and elsewhere.
News
September 19, 2019
Petrofac has signed an agreement to sell its remaining 51% interest in its operations in Mexico, including Santuario, Magallanes and Arenque, to Perenco International.
News
September 17, 2019
Schlumberger will start a new 5,080-km2 wide-azimuth (WAZ) multiclient survey in the Salina del Istmo Basin in the Gulf of Mexico Bay of Campeche, providing the first 3D coverage over this shallow-water target area that includes the recent Zama-1 discovery.
News
September 12, 2019
Whittaker Mexicana will offer a full range of Swire Oilfield Services DNV 2.7-1 certified units included Offshore Containers, baskets, waste skips and tanks to support the increased international operators drilling campaigns across Mexico.
News
September 12, 2019
Talos Energy has received a two-year contract term extension as well as regulatory approvals for additional exploration activities on Block 7, located in the offshore portion of Mexico's prolific Sureste basin. Talos is the operator of Block 7 in a consortium with its partners Sierra Oil & Gas and Premier Oil.
News
September 09, 2019
Mexico’s balanced budget for next year depends in part on its oil company boosting production by about 17%, something that the country hasn’t achieved in almost four decades.
