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
Nasdaq MEXICO CITY – Mexico’s outgoing president has taken steps to promote a smooth hand-off for national oil company Pemex, three sources told Reuters, but the latest moves will likely postpone a day of reckoning for the world’s most heavily-indebted oil company. Last week, President Andres Manuel Lopez Obrador rolled out fresh support for Pemex, part of his longstanding goal
Investing MEXICO CITY-Mexican tycoon Carlos Slim is interested in increasing his investments in the oil sector, including in U.S.-based Talos Energy (NYSE:TALO)’s projects, after the billionaire businessman bought a stake last year in a major offshore project discovered by Talos. Speaking at a press conference, Mexico’s richest person signaled he would like to grow his company’s presence in the oil
Nasdaq MEXICO CITY (Reuters) – The favorite to be Mexico’s next leader will likely be more open than her mentor President Andres Manuel Lopez Obrador to private investment in energy in order to help fund her renewable power push at a time of tighter public finances, aides, officials and executives said. The president’s drive to tighten state control of energy
Investing Mexican state energy company Pemex’s mounting debt with oil service providers as well as private crude and gas producers threatens production, investment and in some cases even the survival of suppliers, industry groups warned. In addition to financial debt of more than $105 billion, the company disclosed that at the end of September it owed local and foreign companies
World Oil (Bloomberg) — A federal appeals court ordered the Biden administration to sell drilling rights in the Gulf of Mexico within 37 days, a defeat for environmentalists who argued oil leasing and development in the region imperil a critically endangered whale. The ruling Tuesday by the Fifth Circuit Court of Appeals means the US Interior Department has until Dec.
Reuters New Fortress Energy (NASDAQ:NFE) and state energy company Pemex have terminated a deal to develop what could have been Mexico’s first deepwater natural gas project, Reuters reported Tuesday. Pemex wants to continue with the development of the Lakach gas field in the Gulf of Mexico and is in talks with other companies, according to the report, which did not
World Oil (WO) – The American Petroleum Institute (API) called on the Biden administration to help meet growing energy demand by allowing for consistent and predictable access to America’s vast energy resources offshore. In comments submitted to the Bureau of Ocean Energy Management (BOEM) in response to the Call for Information and Nominations for 2024-2029 Gulf of Mexico Lease Sales,
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