Pemex – Page 5 – Oil & Gas 360

Pemex communications still spotty after crippling cyberattack

November 26, 2019

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

Reports of Pemex cyberattack has U.S. companies taking precautions

November 25, 2019

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

Mexico’s Pemex won’t pay ransom after cyberattack: energy minister

November 13, 2019

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.

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Pemex posts $4.6 billion loss amid sagging exports, domestic sales

October 28, 2019

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

Borr Drilling Awarded Contract by Pemex

August 6, 2019

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

New Tax Breaks Planned for Mexico’s Indebted Pemex

July 11, 2019

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

Mexican President AMLO Contradicts Report to Opposite, Says Pemex Oil Production is Stable, Not Falling

June 26, 2019

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

AMLO’s Pemex Gamble Gets a Warning

June 6, 2019

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.

Pemex Gets Record $8 Billion Loan in Bid to Reassure Investors

May 13, 2019

From Bloomberg Mexico moved to bolster investor confidence in its embattled state oil company, announcing an unprecedented $8 billion syndicated loan along with new tax breaks for the energy producer. Petroleos Mexicanos officials signed the financing agreement with JPMorgan Chase & Co., HSBC Holdings Plc and Mizuho Financial Group Inc. alongside President Andres Manuel Lopez Obrador at a morning news conference.

Strong Well Results in the Gulf: Talos Energy’s Zama-2 ST1 Appraisal Well Reinforces Zama Predictions

April 16, 2019

Well flow tested at 7,900 BOEPD, core sets Mexican offshore record with 714 feet of whole core Zama will ‘be impactful for the company and for the Mexican economy’ – Talos CEO Duncan Talos Energy Inc. (stock ticker: TALO, $TALO) reported good results for its Zama appraisal program in Block 7, located in the offshore portion of Mexico’s Sureste Basin in the Gulf

Pemex Imports Crude in February, Despite President’s Aversion

March 27, 2019

From Reuters Mexican state oil company Pemex imported crude oil in February despite the new president’s sharp criticism of the previous government’s authorization of foreign oil shipments, official data showed on Tuesday. President Andres Manuel Lopez Obrador, who took office in December, promises to make Mexico energy independent over the next three years and has often blasted foreign imports as

Mexico’s Pemex Posts $7.6 Billion Loss In 2018 As Oil Output Dips

February 28, 2019

From Reuters Mexican state oil company Pemex said on Wednesday its losses narrowed in 2018, helped by currency exchange gains as crude production and refining rates continued to decline. Pemex, Mexico’s largest company, reported a loss of $7.6 billion in 2018, down by nearly half from losses of about $14.3 billion the previous year, according to a filing with the

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