Pemex Company News

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Borr Drilling Wins More Mexico Work
Borr has secured a letter of award for a jack-up rig for additional work in Mexico.
8:00 PM EST | July 22, 2021
Fire Breaks Out Near Pemex Offshore Platform
The fire has been controlled and no injuries reported, according to an unnamed source.
8:00 PM EST | July 01, 2021
NOCs to Fill Void as Majors Retreat from Oil and Gas
National oil companies are largely shielded from shareholder pressures.
8:00 PM EST | June 08, 2021
Shell Refinery Employees Will Be Offered Pemex Jobs Under Texas Deal
Shell stated that Pemex's bid was unsolicited.
8:00 PM EST | May 24, 2021
Mexican Official Downplays Biden Admin Energy Concerns
A Biden administration official conveyed to Mexico strong concerns about policies that appear to disadvantage American firms' investments.
8:00 PM EST | May 18, 2021
Pro-Pemex Bill Clears Mexico's Lower House
The bill would remove a linchpin to promote private competition against state-run oil company Petroleos Mexicanos.
8:00 PM EST | April 21, 2021
Pemex 'Indirect Expropriation' Bill Clears Hurdle
Pemex's share of the gasoline and diesel market has fallen by double-digits with the arrival of competition.
8:00 PM EST | April 14, 2021
AMLO Doubles Down on Shielding Pemex from Competition
The Mexican president on Friday sent a bill to congress to give Pemex greater control over the domestic fuel market.
8:00 PM EST | March 28, 2021
Deadline Looms for Mexico Oilfield Development Talks
Talks between Pemex and a group of foreign companies over how to develop the giant Zama oil field may miss a deadline.
8:00 PM EST | March 23, 2021
BHP Awards Mexico Subsea Project
The FEED contract covers the SURF scope for the Trion development.
8:00 PM EST | March 22, 2021
Pemex Turns Another Profit
Petroleos Mexicanos had its first back-to-back quarterly gains in four years.
7:00 PM EST | February 25, 2021
Mexico Seeks to Revive Pemex
Mexico is preparing a significant tax break for its state-owned oil firm, whose headquarters appears in the center of this photo.
7:00 PM EST | February 17, 2021
Pemex Virus Death Toll Rises
Offshore installations have been a locus of infection at Pemex.
7:00 PM EST | February 08, 2021
Why Mexico Needs to Honor Its Energy Reforms
Mexico's energy reforms for market liberalization have struggled to take flight.
7:00 PM EST | January 28, 2021
Foreign Energy Firms Losing Interest in Mexico
Investors reportedly are very hesitant about committing money to Mexico given concerns about the rule of law and lack of regulatory independence.
7:00 PM EST | December 21, 2020
Dolphin Drilling Rig Commences Mexico Contract
Pemex will use the Blackford Dolphin to drill the SAAP-1EXP well. PHOTO SOURCE: Dolphin Drilling
7:00 PM EST | December 14, 2020
Pemex Imposes Vitol Business Ban
The trading arm of Pemex reportedly is imposing a ban on doing business with Vitol.
7:00 PM EST | December 09, 2020
Pemex Pulls Contracts Linked to Cousin of Mexican President
Mexico's state-owned oil company suspended contracts to businesses controlled by a cousin of President Andres Manuel Lopez Obrador.
7:00 PM EST | December 06, 2020
Mexico Cashes In Amid OPEC+ Discord
Mexico reportedly will cash in its oil price insurance policy this year for the fourth time only in the last two decades.
7:00 PM EST | December 01, 2020
Pemex Offshore Workers Claim Virus Testing is Lacking
A Pemex spokeswoman didn’t respond to a request for comment on whether testing had stopped at its platforms and if they were operating near normal capacity.
7:00 PM EST | November 09, 2020
Repsol Seeks Contract for Canadian Crude
The Spanish company has typically sourced heavy crude supplies from Latin America and has been the biggest buyer of Mexican crude in 2020.
8:00 PM EST | October 28, 2020
Mexican President Floats Energy Reform Reversal
President Andres Manuel Lopez Obrador bolstered his defense of Mexico's embattled state-run companies.
8:00 PM EST | October 26, 2020
Oil and Gas Digitalization Budgets Avoid Slashing
The need to ensure worker safety while keeping sites running has fueled investments in digital technology this year, even as companies slash spending in other areas.
8:00 PM EST | October 25, 2020
Oil Sands Output Is Becoming More Valuable
Canadian oil prices are poised to strengthen next year, according to BMO Capital Markets.
8:00 PM EST | October 21, 2020
Private Firms Gain Market Share from Pemex
The trend bodes poorly for the Lopez Obrador administration.
8:00 PM EST | September 28, 2020
Lawmaker Sees Lower Pemex Output Goal
The government's preliminary 2021 output goal for Pemex, whose headquarters appears above, is stretched, said a Mexican lawmaker.
8:00 PM EST | September 03, 2020
$83MM Pemex Contract Goes to Dolphin Drilling
The Blackford Dolphin, above, will commence operations offshore Mexico in October. PHOTO SOURCE: Dolphin Drilling
8:00 PM EST | September 02, 2020
Former Pemex Chief Pledges to Fight Charges
The former head of oil giant Petroleos Mexicanos said on Tuesday he will fight money laundering charges and cooperate with authorities.
8:00 PM EST | July 28, 2020
Could AMLO Cancel Mexico Energy Reform?
With a corruption scandal spreading to the energy reform, some political analysts say Mexico's president could decide to further disrupt or even cancel the implementation of that legal overhaul.
8:00 PM EST | July 23, 2020
Pemex Reveals Virus Death Toll
Bloomberg reports that no company has disclosed a worse death toll than Mexico's state-owned oil producer.
8:00 PM EST | July 14, 2020
Pemex Seeks IOUs from Contractors
Pemex's nearly $105 billion in debt already makes it the biggest borrower of any oil company.
8:00 PM EST | July 06, 2020
Pemex Suspends Service Contracts, Sparking Job Losses
The company has suspended contracts with at least eight oil-service providers and suppliers to cut spending.
8:00 PM EST | June 09, 2020
Mexico Refuses to Cut Oil Output
Pemex aims to nearly double drilling to 423 wells this year and accelerate development of 15 recent discoveries.
8:00 PM EST | April 07, 2020
Fight Over Mexico Oil Field Snags Stake Sale
The conflict over Zama has ignited concerns in the oil sector that politics will override economic and technical data.
7:00 PM EST | February 23, 2020
Pemex Ex-CEO Arrest Puts AMLO in Delicate Situation
The arrest of a former top government official is a breakthrough for Mexico's crackdown against corruption, but it puts President Andres Manuel Lopez Obrador in a delicate spot.
7:00 PM EST | February 13, 2020
North America To Lead New Non-OPEC Oil Supply
By 2040, even OPEC, which has long underestimated North American shale, has U.S. crude output going above 17 million b/d.
7:00 PM EST | February 03, 2020
Mexico's Growing Fuel Market Just Got Less Competitive
Two rules designed to facilitate private investment in the energy sector were rolled back this week.
7:00 PM EST | December 17, 2019
Pemex's Oil Find May Not Be a Silver Bullet
The discovery is a welcome development for the beleaguered driller that has experienced almost 15 years of output declines.
7:00 PM EST | December 08, 2019
Unpaid Bills in Mexico Oil Patch Add to Pemex Troubles
Pemex, facing pressure from the government to slow spending, has delayed some payments to contractors for as long as seven months.
7:00 PM EST | November 25, 2019
Pemex Faces Payment Problems After Cyber Attack
A ransomware attack that hit Mexico's Petroleos Mexicanos is disrupting the company's billing systems.
7:00 PM EST | November 11, 2019
McDermott Turns Over Platform to Pemex
The platform's substantial completion milestone means that Pemex can begin commercial operations.
8:00 PM EST | October 27, 2019
Maersk Expands Mexico Footprint
The Maersk Installer subsea support vessel. PHOTO SOURCE: Maersk Supply Service
8:00 PM EST | October 07, 2019
Pemex PMI Turnover is AMLO's Effort to Clean Unit
The replacement of 10 execs at the Pemex arm was an effort to end decades-long questionable practices.
8:00 PM EST | October 02, 2019
Mexico's Growing Reliance on US Oil Will Continue
Proven oil reserves in Mexico have collapsed from 50 billion barrels 20 years ago to just 8 billion barrels today.
8:00 PM EST | September 12, 2019
Pemex Gets $5B Boost from Government
Petroleos Mexicanos will use a new $5 billion capital injection from the Mexican government to improve the embattled state oil company's debt profile by lengthening maturities.
8:00 PM EST | September 10, 2019
Pemex to Use Banks to Help Refinance $5B of Debt
Petroleos Mexicanos has lined up banks to help refinance at least $5 billion of bonds with longer-maturity debt as it works to bolster cash flow and boost oil production.
8:00 PM EST | September 09, 2019
Mexico Budget Assumes Oil Output Growth Not Seen Since 1982
Mexico's conservative budget for next year depends in part on its oil company boosting production by about 17%, something that the country hasn't achieved in almost four decades.
8:00 PM EST | September 08, 2019
Mexico's Central Bank Eyes Uncertain Investment Climate
Mexico's central bank board took aim at President Andres Manuel Lopez Obrador's administration in its most recent meeting, saying policy uncertainty is holding back investors.
8:00 PM EST | August 28, 2019
Is a Mature Mexican Gas Market Within Reach?
Once providing over 40 percent of federal revenues, oil production has been cut in half to below 2 million barrels per day since peaking in 2004.
8:00 PM EST | July 25, 2019
AMLO Dreams of a New Refinery for Mexico
Mexico's future energy minister was looking for inspiration two years ago when she toured the world's largest refining complex, a 7,500-acre maze of industrial plants and pipes in India.
8:00 PM EST | July 25, 2019