Opportunity strikes for International Frontier Resources: Canadian E&P wins bid at auction in Mexico After 77 years, the Mexican government held its auction for oil and gas rights in July of last year. The first auction since Mexico’s decision to loosen the grip of the state-run monopoly held by national oil giant PEMEX saw just two of fourteen shallow-water blocks
MEXICO CITY, MEXICO and CALGARY, ALBERTA–(Marketwired – April 11, 2016) TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that it has been chosen to build, own and operate the Tula – Villa de Reyes pipeline in Mexico. Construction of the pipeline is supported by a 25-year natural gas transportation service contract for 886 million cubic feet a day with the Comisión
Mexico hopes to join the IEA as it continues reforming the oil and gas sector Mexican Secretary of Energy Pedro Joaquin Coldwell today presented International Energy Agency (IEA) Executive Director Fatih Birol with an official letter declaring Mexico’s interest in becoming an IEA member. The declaration of interest is the latest step in Mexico’s ongoing process of reforming its oil
Mexico’s state-owned oil major is on pace to record its lowest annual production in three decades Petroleos Mexicanos (Pemex) has transformed its energy policies and welcomed investments with open arms, but the progress is no match for the 53% drop in Mexico crude oil basket prices from one year ago. Pemex posted a loss of 167.6 billion pesos, or $9.9
Oil and Gas Projects to Target Energy Reform Onshore Blocks Round 1.3 CALGARY, ALBERTA–(Marketwired – Oct. 1, 2015) – International Frontier Resources Corporation (“IFR” or the “Company”) (TSX VENTURE:IFR), on October 1st, is pleased to announce that it has entered into a strategic joint venture agreement with Grupo Idesa S.A. de CV (“IDESA”). The joint venture will allow for the
Mexico Sells 60% of Blocks in Second Auction, Compared to Just 14% in the First Round Mexico’s National Hydrocarbon Commission heard plenty of criticism following its first oil auction in July, in which only two of the 14 available offshore blocks were sold. Its second go-’round was much more successful. The country’s latest oil auction, conducted on September 30, 2015,
Mexico’s rapidly changing oil and gas industry took another step forward last month, reaching an agreement with the United States Bureau of Industry and Security to swap crude oil depending on its respective grades. U.S. refineries, particularly on the Gulf Coast, are more equipped to handle heavy and sour grade crudes like Mexico’s Mayan crude oil. U.S. refineries best suited
Ricardo Garcia-Moreno, partner with Haynes and Boone, speaks to Oil & Gas 360® at The Oil & Gas Conference® 20 in Denver about the recent reforms to the oil and gas industry in Mexico, and what it means for those doing business in the country. Garcia-Moreno outlines the positives of the most recent offshore auction, as well as what could be done
Crude oil swap with Mexico approved The United States will start to export light crude oil to Mexico as part of a crude oil swap, leading the U.S. another step closer to lifting the ban on exporting crude oil. The deal has already been approved by the Obama administration, although the details about how many barrels will be allowed in
Two Wild Cards, Two Steps to Rebalance (NOTE: Part One of this two-part analysis was published yesterday and can be accessed here.) Wild Card No. 1: Iran Iran is the loudest blender of the oil market margarita. The EU used to be the first trading partner of Iran, but due to the sanctions regime, China, the UAE and Turkey are now Iran’s main
The Mexican government announced changes to the requirements for offshore The Mexican government announced that the second round of offshore bids to be held in 77 years in the Gulf of Mexico will be different of those in the first round, which only saw two of the fourteen blocks offered auctioned off. The second auction, due to take place September
American Majors Avoid Shallow Water Round Mexico offered its first auction for oil and gas rights in 77 years today. It presented a total of 14 blocks in the shallow Gulf of Mexico. A handful of bids were received but only two blocks were sold, a result of some bids not measuring up to requirements from Mexico’s Energy Ministry. Only
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
