Oil Price Mexico’s indebted state oil company, Pemex, is searching for ways to make $10 billion in bond payments this year, an amount that neither the company nor Mexico’s government has planned for, Bloomberg News reported Monday. Last month, Pemex Chief Executive Officer Octavio Romero said the company was in talks with the government about getting renewed support for paying
Nasdaq MEXICO CITY, Jan 13 – Mexican state oil company Petroleos Mexicanos will take control of the Deer Park refinery in Houston, Texas on Jan. 20, three sources with knowledge of the matter said on Thursday. Royal Dutch Shell RDSa.L in May agreed to sell its majority stake in the Deer Park refinery, which can process up to 340,000 barrels per day
Reuters MEXICO CITY/HOUSTON -A pair of New York businessmen filed a lawsuit in a U.S. court seeking to block Mexico’s state oil company Petroleos Mexicanos (Pemex) from taking control of a Texas refinery, claiming the sale would raise U.S. gasoline prices. Royal Dutch Shell in May agreed to sell its majority stake in the 302,800 barrel per day (bpd) Deer
World Oil MEXICO CITY (Bloomberg) –Mexico could slash Pemex’s taxes further as the world’s most indebted oil company scrambles to reverse long-term oil production declines. “With Pemex, for example, we are constantly or periodically lowering taxes so they have more funds,” said President Andres Manuel Lopez Obrador during his daily press conference on Monday. “And we can lower them more.”
Nasdaq Dec 6 – Petroleos Mexicanos (Pemex) said on MondayPEMX.ULit will issue new debt and that the Mexican government plans to inject up to $3.5 billion into the state oil company to help manage its liabilities. In a statement, the heavily indebted Pemex said it was planning a series of measures to improve its financial condition, including offering U.S. dollar-denominated
World Oil MEXICO CITY (Bloomberg) –Petroleos Mexicanos is replacing its finance chief as President Andres Manuel Lopez Obrador tightens his grip on the struggling state oil giant. In Pemex’s first C-suite shift under the current administration, the Mexican producer named risk management chief Antonio Lopez Velarde its chief financial officer, replacing Alberto Velazquez Garcia, who will run a new unit.
Reuters HOUSTON – A national security review has delayed the sale of Royal Dutch Shell’s controlling interest in a Texas refinery to Mexico’s national oil company Petroleos Mexicanos (Pemex), Shell said on Tuesday. Shell in May disclosed a sale of its 50% interest in the 302,800 barrel-per-day (bpd) Deer Park, Texas, refinery outside Houston to partner Pemex for about $596
World Oil MEXICO CITY (Bloomberg) –Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. The country’s Finance Ministry lowered a preliminary estimate for crude output in 2022 to 1.826 million barrels a day, from a March 31
World Oil MEXICO CITY (Bloomberg) –The Texas oil refinery that Pemex is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence. Mexico’s state-owned oil giant agreed in May to buy Royal Dutch Shell Plc’s majority stake in the Deer Park refinery. The facility’s forced shutdown
Nasdaq MEXICO CITY- Mexico expects an average price of $60 per barrel for its crude oil exports, as well as an average crude production of 1.9 million barrels per day (bpd) for 2022, as state-owned Pemex struggles to increase output, a government source told Reuters. The preliminary forecasts are being used by the finance ministry to calculate part of the
Reuters MEXICO CITY – Mexican state oil firm Petroleos Mexicanos (Pemex) expects to resume by Aug. 30 all oil production shut down by a deadly fire on an offshore platform, the firm’s chief executive said on Tuesday. Five workers were killed, two are missing and six injured in a fire on Sunday on the offshore platform that is part of
Reuters MEXICO CITY – At least one person died and five more are missing due to a fire that erupted on an offshore platform run by Petroleos Mexicanos (Pemex) in the southern Gulf of Mexico, the Mexican state oil and gas company said on Monday. Three Pemex workers were injured and another was in a state of nervous shock, the
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