From Bloomberg Uncertainty over Mexico’s elections July 1 have potential partners on hold State oil company still plans to farm out 11 onshore fields on October 31 Petroleos Mexicanos is accelerating efforts to bring on partners before an election that could slow foreign investment in Mexico’s oil industry. The Mexican state oil giant brought in a new head of joint ventures
From the Houston Chronicle Talos-led GOM discovery putting wind in Pemex sails Pemex is finalizing a development agreement with a group led by the Houston exploration and production company Talos Energy, which made the discovery last year about 37 miles off the southern Gulf coast of Mexico. It’s expected to be the first major development to move forward since the
From Argus Mexico City, 13 April (Argus) — Mexico’s state-run Pemex says it wants to capitalize on Venezuela’s dwindling crude production to boost its own exports of heavy crude to the US market. Asked whether falling crude production in Venezuela could represent an opportunity for the Mexican oil company, Pemex top executive Carlos Trevino said this week “without a doubt
Brazil’s state-controlled oil company, Petrobras, has hedged a portion of its 2018 oil production. The move should protect cash flow against downturns in the marketplace. Bloomberg reported that the company hedged 128 MMBbls, or 350,685 BOPD at an average Brent price of $65/bbl. The average cost, a company filing on Wednesday said, is about $3.48 a barrel. Petrobras has become
From Reuters Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil
International Frontier Resources Corporation (ticker: IFR) has received a drilling permit for its onshore oil and gas block, Tecolutla, with its Mexican JV, Tonalli Energia. Tonalli was granted the right to operate, develop and produce hydrocarbons at Tecolutla through a licensing contract with the Mexican government. The Tecolutla block was awarded to Tonalli as part of the first round and
From Reuters Mexico’s national oil company Pemex has made its biggest onshore oil discovery in fifteen years with a find in the eastern state of Veracruz, President Enrique Pena Nieto said on Friday. Tanker trucks of state-owned company Petroleos Mexicanos (PEMEX) are seen in Ciudad Juarez, Mexico October 4, 2017. REUTERS/Jose Luis Gonzalez Pena Nieto said Pemex made the discovery
Mexico’s National Center for Natural Gas Control (CENAGAS) conducted its first open season for capacity rights to its natural gas pipeline grid. The auction took place in May, 2017. In “Round 0”, which took place in October, 2016, CENAGAS allocated approximately 4.1 Bcf per day of capacity to PEMEX, Mexico’s Federal Electricity Commission, and a number of independent power producers.
IFR jointly owned partner Tonalli shoots for first well on Tecoluta in 1H 2017 International Frontier Resources Corporation (ticker: IFR) has officially taken over operatorship of onshore oil and gas development block Tecolutla from state-owned PEMEX in Mexico. IFR’s jointly owned Mexican company Tonalli Energia has initiated oil field services contracting, and the company said it has found service providers
“Things are moving, and it is hard, but we are on the right track” – PEMEX CEO Jose Antonio Gonzalez Anaya During a conference call outlining the company’s five-year plan Wednesday, PEMEX CEO Jose Antonio Gonzalez Anaya said the company will meet its financial targets for the year, and that he believes they are on the right track to make
A weak peso and increased interest expenses continue to hurt PEMEX Mexican state-owned oil major PEMEX reported its third quarter earnings Friday, showing a smaller net loss this quarter than last year. The company’s net income loss for the quarter was 118 billion pesos ($6.25 billion), according to the company’s quarterly materials, 29.4% less than in Q3 2015. According to
PEMEX hopes to attract its first consortium of international majors, for Trion farm out As Mexico continues the privatization of its oil and gas sector, state-run PEMEX is seeking international oil majors to help develop the country’s more technically challenging offshore assets. Among the first that PEMEX is looking to develop in cooperation with other companies is the Trion light
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