Pemex Company News

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Fight Over Mexico Oil Field Snags Stake Sale
Monday, February 24, 2020 The 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, 2020 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.

North America To Lead New Non-OPEC Oil Supply
Tuesday, February 04, 2020 By 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, 2019 Two 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, 2019 The 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, 2019 Pemex, 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, 2019 A ransomware attack that hit Mexico's Petroleos Mexicanos is disrupting the company's billing systems.

McDermott Turns Over Platform to Pemex
Monday, October 28, 2019 The platform's substantial completion milestone means that Pemex can begin commercial operations.

Maersk Expands Mexico Footprint
Tuesday, October 08, 2019 The Maersk Installer subsea support vessel. PHOTO SOURCE: Maersk Supply Service

Pemex PMI Turnover is AMLO's Effort to Clean Unit
Thursday, October 03, 2019 The 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, 2019 Proven 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, 2019 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.

Pemex to Use Banks to Help Refinance $5B of Debt
Tuesday, September 10, 2019 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.

Mexico Budget Assumes Oil Output Growth Not Seen Since 1982
Monday, September 09, 2019 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.

Mexico's Central Bank Eyes Uncertain Investment Climate
Thursday, August 29, 2019 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.

Is a Mature Mexican Gas Market Within Reach?
Friday, July 26, 2019 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.

AMLO Dreams of a New Refinery for Mexico
Friday, July 26, 2019 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.

Pemex Aims to Reverse Oil Declines, Balance Budget
Tuesday, July 16, 2019 Mexico'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, 2019 Pemex, the world's most indebted oil company, will refrain from issuing new bonds this year.

Mexican Oil at a Crossroads
Tuesday, January 29, 2019 Will 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, 2019 Mexico 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, 2019 Latina 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, 2019 Private 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, 2018 Mexican 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, 2018 The 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, 2018 Petroleos 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, 2018 Pemex has more than tripled its estimated reserves in its Ixachi field.

Gasoline Retailers Face Supply Shortage Due to Mexico Fuel Theft
Thursday, November 01, 2018 BP 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, 2018 Pemex 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, 2018 Pemex 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, 2018 Pemex has selected McDermott to install two rigid flowlines for its Ayatsil field, which is located in the Bay of Campeche.

Pemex Hunts for Partners as Election Approaches
Wednesday, June 27, 2018 Pemex is accelerating efforts to bring on partners before an election that could slow foreign investment in Mexico's oil industry.

Mexico's Pemex Says Fire Under Control at Minatitlan Refinery
Monday, June 11, 2018 Mexico's Pemex said that a fire at its Minatitlan refinery was under control and the plants were operating normally.

Reeling From Job Cuts, Mexican Oil Country Pins Hopes on a Rebel
Wednesday, May 02, 2018 The promised wave of investment has yet to arrive.

Mexican State Oil Company Pemex Turns $6B Profit On Oil Prices
Friday, April 27, 2018 Pemex says its net profit rose 29% in the first quarter compared with the year-earlier quarter.

Regulator: Mexico's Pemex Will Tender For Partners In Seven Onshore Areas
Thursday, April 26, 2018 Mexico's CNH says that Pemex will tender for partners in seven onshore areas.

Pemex CEO Says We Must Move To IPO, But Will Take Years
Wednesday, April 25, 2018 Pemex says it must move towards a stock exchange listing like Saudi Arabia's Aramco has done but that such a step would take years.

Crude Processing in Mexico up 9 pct at 834,000 bpd - Pemex CEO
Tuesday, April 10, 2018 Pemex is currently processing about 9 percent more crude oil at its domestic refineries than it did in 2017, Chief Executive Officer Carlos Trevino said.

Pemex Signs Shale Contract With Lewis Energy In Northern Mexico
Monday, March 26, 2018 Pemex says it had signed a contract with US firm Lewis Energy.

Mexico Regulator Wants Minority Stake Floated in State Oil Firm Pemex
Thursday, March 22, 2018 "Pemex needs more capital to invest in its own projects," said an official with Mexico's National Hydrocarbons Commission.

Slowing Mexico Oil Reform Would Be 'A Shame,' Pemex CEO Says
Wednesday, March 07, 2018 Mexico's 2013 decision to end the government monopoly on energy has resulted in billions in investment and the arrival of dozens of international oil companies.

CEO: Mexico's Pemex Eyeing Partners For Heavy Oil Projects
Tuesday, March 06, 2018 Pemex might bring partners into two heavy crude oilfields in the Gulf's shallow waters, the company's chief says.

CERAWEEK: Pemex Seeking Allies For Deepwater Blocks Won In Auction - CEO
Monday, March 05, 2018 Pemex plans to reach out to existing partners to form new joint ventures for a pair of deepwater blocks it won in a January auction.

Mexico's Pemex Posts Nearly $18B 4Q Loss As Output, Refining Dip
Monday, February 26, 2018 Pemex reports a nearly $18 billion fourth-quarter loss.

Pemex Refinery Chief Looks to Deal With Mitsui to Spur Recovery
Friday, February 02, 2018 Pemex is a few months away from closing an agreement for the project with a group led by Mitsui.

Mexico's Oil Reform A Boon For Hard-Hit Oil Service, Seismic Firms
Tuesday, January 30, 2018 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.

Oil's Heavy Hitters Line Up to Dive Into Mexico's Deep Waters
Friday, January 26, 2018 The sale will be Mexico's biggest, in terms of fields and expected investment, since Pemex's monopoly ended in 2013.

Mexico Says Deepwater Oil Tender Doomed By Brazil Competition
Friday, December 08, 2017 Pemex blames the cancellation of a potentially lucrative deepwater Gulf of Mexico project on weak investor appetite.

Sources: Mexico's Pemex Declares Force Majeure On Isthmus Crude Oil
Wednesday, November 29, 2017 Pemex declares force majeure on the loading of Isthmus crude, two sources with knowledge of the matter say.

Mexico's Pemex Makes Biggest Onshore Oil Find in 15 Years - President
Friday, November 03, 2017 Pemex has made its biggest onshore oil discovery in 15 years with a find in the eastern state of Veracruz, President Enrique Pena Nieto said.