Pemex – Page 2 – Oil & Gas 360

Mexico’s new Pemex refinery still needs important work, is far from ready, sources say

June 24, 2024

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 prices ease slightly, eyes on talks for Gaza ceasefire

April 9, 2024

Yahoo Finance HOUSTON – Oil prices dipped for a second straight day on Tuesday, as talks for a ceasefire in Gaza continued, but losses were limited to less than a dollar a barrel as Egyptian and Qatari mediators met resistance in their search to find a way out of the war. The talks in Cairo, also attended by the director

Nine injured in Pemex Akal-B oil production platform fire offshore Mexico

April 8, 2024

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

EXCLUSIVE-Mexico’s Pemex put off repairs despite vast methane leaks: documents and sources

March 22, 2024

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

Fallout from Mexican president’s Pemex ‘rescue’ set to greet successor

February 23, 2024

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

Pemex’s failure to pay debts threatens suppliers’ survival, industry warns

December 15, 2023

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

New Fortress Energy, Pemex scrap Mexican deepwater gas project

November 7, 2023

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

Mexico backs state oil giant Pemex with $4 billion capital injection

July 28, 2023

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,

Large oil spill spotted near site of Pemex natural gas platform explosion in Gulf of Mexico

July 19, 2023

World Oil (Bloomberg) – A large oil spill has been spotted in the Gulf of Mexico near the site of a deadly explosion at a Petroleos Mexicanos natural gas platform, according to Mexican newspaper Reforma. A scientist working with environmental groups including Greenpeace detected the leak on July 4, days before the blast off the coast of Mexico’s Campeche, Reforma said.

Pemex sinks deeper into junk: Fitch

July 17, 2023

Oil Price Fitch Ratings has downgraded Petroleos Mexicanos—or Pemex—squarely into junk territory after several accidents and “weak operating performance”. Fitch also lowered its ESG score after those accidents, which included an explosion at a natural gas platform that ended with fatalities and damages to critical infrastructure and assets, to reflect “the environmental and social impact” of those events. Fitch slammed the company’s

Exclusive: Mexico’s oil regulator, constrained by government, dropped plans to fine Pemex

July 12, 2023

Nasdaq MEXICO CITY – Mexico’s oil regulator shelved plans to impose at least three fines against the national energy company Pemex for violations at the country’s most promising new fields, two dozen previously unreported documents showed and three sources confirmed. It is the latest sign of a weakened regulator, which, after government-backed changes in the leadership, lets Pemex operate with

“Massive” explosion on Pemex production platform leaves two dead, cuts output by 700,000 bbl

July 10, 2023

World Oil (Bloomberg) – Petroleos Mexicanos said it lost production capacity for about 700,000 bbl of oil, more than a third of its daily output, after a massive platform explosion on Friday that left at least two people dead. The company is working to recover production, Pemex Chief Executive Officer Octavio Romero confirmed in a video late Saturday, adding that

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