World Oil (Bloomberg) – Senator Joe Manchin called on the Biden administration to swiftly auction drilling rights in the Gulf of Mexico, following a federal appeals court ruling Thursday that casts doubt on the future of that oil lease sale. “Shrinking or further delaying Lease Sale 261 threatens both our energy security and climate goals and could make us more dependent on
Oil Price BP is considering selling 49% of its oil and gas pipeline network on the U.S. Gulf Coast, eyeing proceeds of $1 billion, Reuters has reported, citing unnamed sources. The supermajor has already organized its pipeline stakes into a separate company, in which it plans to keep 51% and sell the rest to fund future dividend payouts and pay down debt,
World Oil (WO) – Talos Energy Inc. and its Mexican subsidiary announced the closing of the sale of a 49.9% interest in Talos Mexico to Zamajal, S. A. de C.V., a wholly-owned subsidiary of Grupo Carso (“Carso”). Talos received $74.85 million in cash at closing, with an additional $49.90 million due upon first production, for an aggregate price of $124.75
Nasdaq The Biden administration on Friday unveiled a plan to phase down oil and gas auctions in federal waters with the release of a long-awaited leasing schedule that includes a maximum of three sales in the Gulf of Mexico through 2029. The Interior Department’s plan includes by far the lowest number of sales since the agency began producing Congressionally-mandated five-year
Oil and Gas 360 HOUSTON, Sept. 21, 2023 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (the “Company” or “W&T”) today announced that it has completed the acquisition of working interests in eight shallow water oil and gas producing assets (the “Assets”) in the central and eastern shelf region of the Gulf of Mexico (“GOM”) from an undisclosed private seller.
Oil Price Mexico’s state oil firm Pemex is expected to start running the long-delayed Dos Bocas oil refinery at full capacity this year, Mexican Energy Minister Rocio Nahle said this week. The oil refinery has seen delays and cost overruns estimated around or even above $3.6 billion, and it hasn’t started producing usable gasoline yet. The plant is one of
Oil Price Chevron and Spain’s Repsol have quit exploration at two offshore blocks in Mexico waters after early work suggested there are not enough resources to make it worthwhile to continue. The two had won the rights to explore the blocks at a tender during the tenure of Mexico’s previous administration, Reuters reported. Now, Chevron told the Mexican energy regulator its work
Nasdaq President Joe Biden’s administration has asked U.S. energy companies to prepare affidavits documenting how Mexico’s protectionist policies disrupted their investments as Washington prepares to escalate a trade dispute with its neighbor, according to three people familiar with the discussions. The request for affidavits from major U.S. oil and renewable energy companies represents the latest and clearest signal that the
World Oil (WO) – Paradigm Drilling Services has recruited Rocio Hoz Cano as Technical Sales Engineer in Mexico to support growth investment in new drilling tools being deployed in the region. Bringing over 10 years of well planning and engineering experience in the drilling sector, Rocio will be responsible for solving clients drilling dysfunctions through the implementation of Paradigm
World Oil (Bloomberg) – ConocoPhillips agreed to a long-term deal to buy liquefied natural gas from an export terminal being developed on Mexico’s west coast. Under a 20-year agreement, ConocoPhillips will buy approximately 2.2 million tons of LNG annually from Mexico Pacific Limited LLC, the companies said in a statement Thursday. The facility in Sonora will cost an estimated
Oil Price Mexico’s state-owned oil giant Pemex, the world’s most indebted oil company, has received a capital injection of $4.16 billion (70 billion Mexican pesos) from the finance ministry, sources with knowledge of the matter told Bloomberg on Friday. The Mexican government and President Andrés Manuel López Obrador are looking to support the company and help it pay off its huge debt,
Nasdaq MEXICO CITY – For Mexican industrial park owners like Sergio Bermudez, business is booming amid a wave of U.S businesses setting up over the border. So-called nearshoring has pulled over $9 billion into Mexico since last October by manufacturers like Unilever ULVR.L, Barbie maker Mattel MAT.O, and Tesla TSLA.O, lured by its proximity to the giant U.S market, cheap labor, and geopolitical stability.
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