Pemex Company News
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Foreign Energy Firms Losing Interest in Mexico
Tuesday, December 22, 2020Investors reportedly are very hesitant about committing money to Mexico given concerns about the rule of law and lack of regulatory independence.
Dolphin Drilling Rig Commences Mexico Contract
Tuesday, December 15, 2020Pemex will use the Blackford Dolphin to drill the SAAP-1EXP well. PHOTO SOURCE: Dolphin Drilling
Pemex Imposes Vitol Business Ban
Thursday, December 10, 2020The trading arm of Pemex reportedly is imposing a ban on doing business with Vitol.
Pemex Pulls Contracts Linked to Cousin of Mexican President
Monday, December 07, 2020Mexico's state-owned oil company suspended contracts to businesses controlled by a cousin of President Andres Manuel Lopez Obrador.
Mexico Cashes In Amid OPEC+ Discord
Wednesday, December 02, 2020Mexico reportedly will cash in its oil price insurance policy this year for the fourth time only in the last two decades.
Pemex Offshore Workers Claim Virus Testing is Lacking
Tuesday, November 10, 2020A 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.
Repsol Seeks Contract for Canadian Crude
Thursday, October 29, 2020The Spanish company has typically sourced heavy crude supplies from Latin America and has been the biggest buyer of Mexican crude in 2020.
Mexican President Floats Energy Reform Reversal
Tuesday, October 27, 2020President Andres Manuel Lopez Obrador bolstered his defense of Mexico's embattled state-run companies.
Oil and Gas Digitalization Budgets Avoid Slashing
Monday, October 26, 2020The 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.
Oil Sands Output Is Becoming More Valuable
Thursday, October 22, 2020Canadian oil prices are poised to strengthen next year, according to BMO Capital Markets.
Private Firms Gain Market Share from Pemex
Tuesday, September 29, 2020The trend bodes poorly for the Lopez Obrador administration.
Lawmaker Sees Lower Pemex Output Goal
Friday, September 04, 2020The government's preliminary 2021 output goal for Pemex, whose headquarters appears above, is stretched, said a Mexican lawmaker.
$83MM Pemex Contract Goes to Dolphin Drilling
Thursday, September 03, 2020The Blackford Dolphin, above, will commence operations offshore Mexico in October. PHOTO SOURCE: Dolphin Drilling
Former Pemex Chief Pledges to Fight Charges
Wednesday, July 29, 2020The former head of oil giant Petroleos Mexicanos said on Tuesday he will fight money laundering charges and cooperate with authorities.
Could AMLO Cancel Mexico Energy Reform?
Friday, July 24, 2020With 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.
Pemex Reveals Virus Death Toll
Wednesday, July 15, 2020Bloomberg reports that no company has disclosed a worse death toll than Mexico's state-owned oil producer.
Pemex Seeks IOUs from Contractors
Tuesday, July 07, 2020Pemex's nearly $105 billion in debt already makes it the biggest borrower of any oil company.
Pemex Suspends Service Contracts, Sparking Job Losses
Wednesday, June 10, 2020The company has suspended contracts with at least eight oil-service providers and suppliers to cut spending.
Mexico Refuses to Cut Oil Output
Wednesday, April 08, 2020Pemex aims to nearly double drilling to 423 wells this year and accelerate development of 15 recent discoveries.
Fight Over Mexico Oil Field Snags Stake Sale
Monday, February 24, 2020The conflict over Zama has ignited concerns in the oil sector that politics will override economic and technical data.
Pemex Ex-CEO Arrest Puts AMLO in Delicate Situation
Friday, February 14, 2020The 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.
North America To Lead New Non-OPEC Oil Supply
Tuesday, February 04, 2020By 2040, even OPEC, which has long underestimated North American shale, has U.S. crude output going above 17 million b/d.
Mexico's Growing Fuel Market Just Got Less Competitive
Wednesday, December 18, 2019Two rules designed to facilitate private investment in the energy sector were rolled back this week.
Pemex's Oil Find May Not Be a Silver Bullet
Monday, December 09, 2019The discovery is a welcome development for the beleaguered driller that has experienced almost 15 years of output declines.
Unpaid Bills in Mexico Oil Patch Add to Pemex Troubles
Tuesday, November 26, 2019Pemex, facing pressure from the government to slow spending, has delayed some payments to contractors for as long as seven months.
Pemex Faces Payment Problems After Cyber Attack
Tuesday, November 12, 2019A ransomware attack that hit Mexico's Petroleos Mexicanos is disrupting the company's billing systems.
McDermott Turns Over Platform to Pemex
Monday, October 28, 2019The platform's substantial completion milestone means that Pemex can begin commercial operations.
Maersk Expands Mexico Footprint
Tuesday, October 08, 2019The Maersk Installer subsea support vessel. PHOTO SOURCE: Maersk Supply Service
Pemex PMI Turnover is AMLO's Effort to Clean Unit
Thursday, October 03, 2019The replacement of 10 execs at the Pemex arm was an effort to end decades-long questionable practices.
Mexico's Growing Reliance on US Oil Will Continue
Friday, September 13, 2019Proven oil reserves in Mexico have collapsed from 50 billion barrels 20 years ago to just 8 billion barrels today.
Pemex Gets $5B Boost from Government
Wednesday, September 11, 2019Petroleos 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.
Pemex to Use Banks to Help Refinance $5B of Debt
Tuesday, September 10, 2019Petroleos 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.
Mexico Budget Assumes Oil Output Growth Not Seen Since 1982
Monday, September 09, 2019Mexico'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.
Mexico's Central Bank Eyes Uncertain Investment Climate
Thursday, August 29, 2019Mexico'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.
Is a Mature Mexican Gas Market Within Reach?
Friday, July 26, 2019Once 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.
AMLO Dreams of a New Refinery for Mexico
Friday, July 26, 2019Mexico'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.
Pemex Aims to Reverse Oil Declines, Balance Budget
Tuesday, July 16, 2019Mexico's Petroleos Mexicanos aims to balance its budget by 2021 and reverse a decade and half of declining crude production as early as next year.
Pemex Assistance Plan Fails to Impress Bondholders
Friday, February 15, 2019Pemex, the world's most indebted oil company, will refrain from issuing new bonds this year.
Mexican Oil at a Crossroads
Tuesday, January 29, 2019Will history or recent reforms drive future policy for the Mexican oil industry?
AMLO Doubles Down to End Fuel Theft after PEMEX Explosion
Monday, January 21, 2019Mexico President Andres Manuel Lopez Obrador is doubling down on a controversial strategy to end fuel theft.
Mexican Driller Latina Is Said to Bid for Pemex Contract
Thursday, January 17, 2019Latina Offshore is working along with one of the consortia invited by Pemex to submit offers for oil-services contracts, according to sources.
Mexico Fuel Sellers Said to Seek Pemex Alternative
Friday, January 11, 2019Private gasoline retailers are scrambling for alternatives to state-owned Pemex to supply their service stations in Mexico that are running out of fuel.
AMLO Earmarks $23B to Boost National Oil Industry
Monday, December 17, 2018Mexican President Andres Manuel Lopez Obrador is boosting Pemex's budget to $23 billion next year to reverse flagging oil production and increase domestic fuel output.
Mexico Cancels Two Oil and Gas Auctions
Wednesday, December 12, 2018The Mexican government canceled February bidding on two oil and gas auctions, including one which offered blocks targeting shale resources.
Pemex Refineries Operating at Lowest Level in Almost 3 Decades
Thursday, November 29, 2018Petroleos Mexicanos' refineries are operating at the lowest level in almost three decades.
Pemex Triples Estimate for 'Most Important Onshore Field in 25 Years'
Wednesday, November 28, 2018Pemex has more than tripled its estimated reserves in its Ixachi field.
Gasoline Retailers Face Supply Shortage Due to Mexico Fuel Theft
Thursday, November 01, 2018BP Plc and Total SA are among international gasoline retailers that are facing a supply shortage in Mexico.
Pemex Signs Landmark Offshore Deal
Friday, September 21, 2018Pemex and a three-way JV have struck what is reportedly the first pre-unitization agreement ever signed in Mexico.
Data, Source: Mexico's State-Run Pemex Pauses Light Crude Exports
Friday, August 31, 2018Pemex has not exported light crude since May, according to a source and export data seen by Reuters.
Bay of Campeche Subsea Tieback Contract Goes to McDermott
Wednesday, August 01, 2018Pemex has selected McDermott to install two rigid flowlines for its Ayatsil field, which is located in the Bay of Campeche.