(BOE Report) – 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 month, gasoline and diesel import volumes were still much higher
World Oil (Bloomberg) – Carlos Slim, Latin America’s richest person, boosted his stake in U.S. oil and gas producer Talos Energy Inc. this week in the aftermath of a surprise exit by its founder and chief executive officer that sparked a drop in shares. Through his Control Empresarial de Capitales holding firm, Slim bought about 2.7 million shares this week
World Oil (Bloomberg) — Petroleos Mexicanos has reached a deal with an oilfield-services provider to drill in the Gulf of Mexico as the heavily indebted state energy company turns to the private sector to boost crude production. Pemex reached an agreement with Mexico-based CME Oil and Gas to revive the Bacab and Lum fields, mature deposits that are part of
World Oil (Bloomberg) –Carlos Slim, Latin America’s richest person, took advantage of the equity-market selloff to boost his majority stakes in two U.S. energy companies. Slim’s Control Empresarial de Capitales SA spent $24.2 million on the first two days of this month to snap up 923,000 shares of Talos Energy Inc. and 357,000 shares of PBF Energy Inc., according to
Yahoo Finance MEXICO CITY/NEW YORK/SINGAPORE – Mexico is seeking to import more motor fuel for next year than it had previously planned, to compensate for delays in the startup of its new Olmeca refinery, half a dozen traders said, marking an about-turn by state energy company Pemex. The purchases for next year signal that the refinery would not be ready
World Oil (WO) – Eni has made a new discovery on the Yopaat-1 EXP exploration well in Block 9, approximately 63 km off the coast in the mid-deep water of the Cuenca Salina in the Sureste basin offshore Mexico. The preliminary estimates indicate a discovered potential of around 300-400 MMboe of oil and associated gas in place. The well has
World Oil (Bloomberg) – A company controlled by Mexico’s richest person, Carlos Slim, is investing $1.2 billion to develop a vast field in the Gulf of Mexico that is expected to produce gas around 2026, a potential model for how Mexico’s state oil company will work with private enterprise. Slim’s Grupo Carso SAB agreed to a deal with Mexico’s state-run
Oil Price Mexico has allowed Pemex to defer its June monthly tax payments to July 31 as the government continues to support its state oil giant that has been reeling under $100 billion in debts for years. Petroleos Mexicanos, as Pemex is officially known, has been granted a government deferral of the so-called DUC levy for May, due in June,
BOE Report Mexican state energy company Pemex is unlikely to produce any commercially viable motor fuels at its new Olmeca refinery before the end of the year, five sources said, despite pressure that it should be ready before the outgoing president’s term ends. President Andres Manuel Lopez Obrador, a resource nationalist, inaugurated the 340,000-barrel-per-day refinery in July 2022 in his
Oil and Gas 360 The frontrunner in Mexico’s next presidential elections, Claudia Sheinbaum, will invest billions in new natural gas generation capacity and solar power, Bloomberg has reported, citing a plan presented to local business leaders. The plan also includes upgrading hydropower capacity and expanding Mexico’s grid with 3,850 km of new transmission lines. Sheinbaum will also continue supporting state-owned oil
World Oil (Bloomberg) – Mexico’s state-controlled oil company said a fire at one of its Akal-B oil platforms in the Campeche Bank left nine people injured Saturday afternoon. Petroleos Mexicanos, also called Pemex, said two of the injured were its employees while the rest were from other companies. None had serious injuries and the fire was controlled in under 20
Nasdaq MEXICO CITY – Mexican state energy company Pemex put off urgent repairs and maintenance at an important offshore platform for months, resulting in methane spewing into the atmosphere, according to internal documents and three sources familiar with the infrastructure. Methane, the main component of natural gas, is a much more potent driver of global warming in the short term
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