The President of Mexico, Andrés Manuel López Obrador, announced on Monday that the state-owned oil company Petróleos Mexicanos (Pemex) finalized the purchase of the Deer Park refinery, which is located in Houston, Texas. The Deer Park refinery was a joint property between the multinational oil company Shell and Pemex: each company owned 50% of the...
OIL AND GAS
The American Petroleum Institute urged the Secretaries of State, Energy, Economy and the U.S. Trade Representative to demand that the Mexican government comply with the commitments acquired in international treaties. The API is a conglomerate of exploration, production and service companies of the American Union, who have been affected by the...
Gas theft and its consequences are growing by leaps and bounds in Mexico, after approximately 60% of the clandestine intakes discovered over the last 20 years were found in the last three years. In 2018 there were 12,581 clandestine intakes, in 2019 there were 13,136 and in 2020 they rose to more than 23,000 clandestine intakes.
The supply crisis that has been affecting the country for the past five days has turned the Mexican electricity system upside down and forced hundreds of factories to shut down machines or reduce production. Although Texas, Mexico's main supplier, announced this Friday that it is lifting the ban on hydrocarbon exports, the industry has already...
Mexico changes its oil hedging strategy
20/02/2021
Mexico is revamping its massive sovereign oil hedge, copying some of the tactics that U.S. shale producers use in an effort to keep their market presence under the radar and secure better prices. The changes are among the most significant since Mexico introduced the modern version of the country's strategy for pricing its crude, a closely watched...
The massive blackout in northern Mexico has exposed the weaknesses of its energy system: the heavy dependence on gas from the United States and the country's shortcomings in production and infrastructure. President Andrés Manuel López Obrador has used it to defend a new energy model in which Mexico is self-sufficient and does not depend on foreign...
Cantarell is the largest oil field ever discovered and exploited in Mexico's history; its impressive dimensions placed it in sixth place in the very reduced category of supergiants known in the orb. Its reserves transformed the country's history and proposed new routes for Pemex to position it among the main oil-producing and exporting companies.
Pemex at Sea, a look at offshore activities
12/01/2021
The sea was a promise and Pemex was so clear about it that, since the second decade of its existence, it broke the barrier of land to develop the first marine seismological study in 1949, carried out in the northern portion of the Isthmus of Tehuantepec, on the continental platform of the Gulf of Mexico, with successful results that led...
The world oil industry continues to be submerged in the crisis in which it was involved in the first months of 2020 due to the coronavirus pandemic, and Petróleos Mexicanos (Pemex) is no exception.