Reuters MEXICO CITY/NEW YORK – Latin American demand for refined products is rapidly drying up as the coronavirus pandemic worsens, leaving U.S. refiners without their main export destination. The crisis has nearly shut down worldwide air travel and fuel demand, which is expected to fall between 10% and 36% in Latin America through the first half of the year. Although
Houston Chronicle The sale of a stake in Mexico’s giant Zama oil field promised to help Premier Oil pay down debts and strengthen its balance sheet, but an ownership conflict is complicating that process. Some international oil companies operating in Mexico are waiting for a resolution to a conflict between Talos Energy, the field’s primary shareholder, and state-owned Petroleos Mexicanos
Oil and Gas 360 HOUSTON, Jan. 31, 2020 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced the filing of a preliminary Schedule 14C information statement with the Securities and Exchange Commission (“SEC”), an important regulatory step towards closing of the Company’s previously announced acquisition of affiliates of ILX Holdings, among other entities (the “Acquired Assets”, the “Acquisition”,
Reuters MEXICO CITY – Mexican state oil company Petroleos Mexicanos would like to run the operations in a major offshore oil area discovered by a consortium of private companies when development eventually begins, the company’s chief executive said on Wednesday. Chief Executive Officer Octavio Romero told a regular government news conference that the company known as Pemex believes most of
Houston Chronicle Some of Petroleos Mexicanos’s communication systems are still affected two weeks after a cyberattack hit Mexico’s beleaguered state oil firm. For some employees, internet access is limited, some computer files aren’t accessible and they are having difficulty receiving external emails to corporate accounts, according to people in Pemex’s finance, legal and refining departments who asked not to be
Houston Chronicle American oil companies operating south of the border are stepping up their cybersecurity measures after reports of a ransomware attack that allegedly knocked out computers at Mexico’s state-run oil company Petroleos Mexicanos, or Pemex. Mexican media outlets have been reporting over the past two weeks that a ransomware attack prompted the Pemex to shut down all computers at
Reuters Mexican national oil company Pemex will not pay a ransom demanded by suspected cyberattackers who targeted the firm’s computer systems, Energy Minister Rocio Nahle told reporters on Wednesday. Nahle, who also serves as chair of the Pemex board, added that the attack hit the company’s administrative headquarters in Mexico City and that its “plants and wells” continued to operate.
Source: Houston Chronicle Mexico’s state-run oil company Petroleos Mexicanos, or Pemex, reported slightly higher production figures but posted a $4.6 billion loss during the third quarter amid sagging exports and domestic sales. In a Monday morning statement, Pemex reported a $4.6 billion loss on $18.4 billion of revenue during the third quarter. The figures are down compared to a $1.4
By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling is awarded its fourth Mexican contract in less than nine months Borr Drilling (stock ticker: BORR), an international drilling contractor headquartered in Bermuda, has been awarded a contract by Petróleos Mexicanos (Pemex) for the employment of a jack-up drilling rig. Previously, the company has entered into two other similar
From Reuters The Mexican government will propose an additional tax reduction for heavily indebted state oil company Pemex [PEMEXF.UL] in the nation’s 2020 budget, President Andres Manuel Lopez Obrador said Thursday, the latest measure to strengthen the company. Lopez Obrador has pledged to revive Pemex, whose $106 billion debt is the largest for any oil company in the world. In
From Reuters MEXICO CITY — Mexican President Andres Manuel Lopez Obrador said on Tuesday that production at state oil company Pemex has stabilized, despite a report showing that output fell in May from April. Pemex, which has long struggled to reverse declining production, reported on Monday that its crude output dipped 0.7% in May. “I have different information,” Lopez Obrador said
From Bloomberg President Andres Manuel Lopez Obrador’s plan to rescue the heavily indebted state oil company suffered a decisive blow Wednesday, with two ratings agencies warning he’s only hurting Mexico’s finances. In almost simultaneous announcements late Wednesday, Fitch Ratings cut Mexico’s credit rating to BBB from BBB+, while Moody’s Investors Service shifted the outlook on its A3 rating to negative.
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